Prospera launches innovative business deposit solution

By February 13, 2019Business, Community

Abbotsford, BC, February 13, 2018: Prospera Credit Union is pleased to announce the launch of a new electronic cheque deposit service for business members dubbed, “Advanced Business Deposit,” or ABD. This new service allows business members to remotely scan and deposit cheques without having to make a trip into the branch.

Before ABD, business members needed to make a trip down to their local branch to ensure their funds were being deposited in a timely manner. Trying to make it to a branch during business hours, while running a business can be a daunting task. Often, employers end up paying staff to prepare and deliver deposits on work time, which adds cost and risk to their business processes. “Cash flow is king for business owners, so anytime we can save them a step in the deposit process – it’s a big win,” said Ed Michielsen, Vice President, Business Banking.

Advanced Business Deposit is a hardware and software solution that enables members to use a cheque scanner to make their cheque deposits to their Prospera operating accounts in real time from their home or place of business. “We are excited to offer this new convenient service and really want to help our business members achieve success by providing a digital solution that will give them back time and allow them to focus on their business,” said Stacey Irwin, Senior Manager, Digital Banking. 

A soft launch of Advanced Business Deposit started in Fall 2018 and the initial response from members has been incredible. “The feedback from all of our business members using the ABD service has been entirely positive. From the ease of the initial setup, to the convenience and simplicity of processing the deposits, the experience for all of them has been excellent and the value received through use of the service has been significant,” said Prospera’s Manager of Cash Management, Jim Brown.

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