VisiFI Launches Real-Time General Ledger
Only Real-Time Solution that Updates in Milliseconds
BIRMINGHAM, AL (July 7, 2020) –
VisiFI, a Dedagroup company and thought leader for fintech solutions, has launched its unique Real-Time General Ledger (Real-Time GL) solution for the first time in the United States.
VisiFI’s solution is the only Real-Time GL that updates account information in milliseconds, as transactions occur. This allows credit unions to capture and view transaction data in an instant, streamlining accounting operations and improving decision-making efficiency. The Real-Time GL stores and presents data instantly, not at the end of each day. The information provided through this solution shows timely detail about each transaction instead of summarized data; this is crucial for Credit Unions to have full control over account balancing.
“We are excited to offer credit unions an efficient way to improve their operations with our Real-Time General Ledger solution,” said Roger Willey, Chief Revenue Officer, Dedagroup North America. “The benefits are irreplaceable; the value of real-time is that decisions can be made at any time, within the context of the most current information. Every decision makes a difference in how the Credit Union performs and how they are perceived by their members.”
VisiFI’s Real-Time GL solution is part of a wider company strategy to help Credit Unions transform to be more lean, agile and quick in order to better serve member needs. By storing all important transaction details and offering employees comprehensive filtering criteria to research, pinpoint specific data, and make corrections on demand, this solution is driving real advantage in real time.
“With the Real-Time General Ledger, we are now able to run our financials on demand, and no longer have to wait for this data until the day after,” said Michael Santoro, Chief Financial Officer at Peach State Federal Credit Union. “This is not only a crucial timesaving element, it also allows us to set the foundation of a data-driven organization. Having instant access to information about how we are performing helps us to make better informed decisions on the fly.”
VisiFI’s exclusive real-time methodology, in use by the financial services industry throughout Europe for over 25 years, leverages this knowledge and proven experience to deliver new capabilities to the U.S. credit union market. The Real-Time GL is already deployed at over 40 VisiFI customers.
VisiFI launched in February 2020 and combines the expertise of three proven innovators – Dedagroup, EPL and Intech – into one company vision that unites technology, people and processes with intelligent solutions that elevate the performance of financial institutions to operate efficiently, attract new customers and encourage member loyalty.
A thought leader for fintech solutions, VisiFI introduces innovative approaches that enable credit unions across the country to compete more effectively in the ever-changing consumer finance market. The U.S. based company consolidates the unique strengths of three experienced and proven industry leaders, Dedagroup, EPL Inc, and Intech, blending the technology, people and processes to form VisiFI, the pre-eminent credit union service organization (CUSO).
Dedagroup is the IT branch of the Lillo Group, a prominent family owned company worth $3.3B (revenues 2019) whose core business is grocery retail. The entrepreneurial history of this Italian company is 100 years old: courage to change, in business models and regions, and social impact are the core values it is rooted in. Dedagroup was founded in 2000 to support the evolution of companies, financial institutions and public authorities through the extensive use of technology. Today it acts as the aggregation hub for 21 different companies in the Software and the Solutions as a service industry. Dedagroup has grown steadily to over $283M revenues (2019) and 1800 employees, serving more than 3,600 customers, worldwide. USA, Mexico, UK, Switzerland, European Union and China are the countries where it operates directly or through its network of business partners.