Morphis Virtual Cash Deposits Deliver for Michigan Banks

Morphis, Inc. announces today the general release of its new VirtualCashDeposit(sm) service after the successful completion of live production trials involving two Michigan banks. 

“A SmartSafe is a machine that counts and verifies notes deposited by a merchant,” explained Debra Miller, Morphis Director of Sales, “Morphis VirtualCashDeposit does exactly that, it takes the money deposited into the machine and deposits it into the merchants regular bank account. It’s a little like magic, except with an audit trail.”

The GL codes, along with the actual contents of each deposit allows for painless posting of account data; along with transmission of the cash letter to the Federal Reserve Bank and any correspondent bank clearing house. This is one more piece of automation by Morphis Software that drastically decreases the possibility of human error.

Alif Rahman, company president said, ”Morphis has been in the currency supply chain automation business for over twenty years. This technology was actually developed to automate the link between the bank’s core accounting system and deposits verified by the armored vaults. We thought if it works for this, will it work for that? And it does! Everybody loves it.”

Morphis has immediate plans to offer the service to its existing customers, with general release to the banking community late Q3 in conjunction with its new bank cash automation product Morphis M1.

To learn more about the latest news from Morphis, please make sure to register for our next Webinar.

Date: September 9, 2021
Time: 10 AM (CST)
Hosts: Trent Pratt & Alif Rahman
Duration: 45 mins
Click Here to Register

About Morphis, Inc.
Morphis was founded in 1999 and has become the world’s leading supplier of payment systems and currency supply chain management software. Central banks, depository institutions, card issuers, armored carrier companies, BTM operators and many other companies in the consumer financial services sector use Morphis products daily. By utilizing proprietary technology, Morphis provides cutting edge, on-demand analytics, and fulfillment logistics, delivering efficient, robust solutions for enterprise cash management. Their software suite includes a customer relationship management platform; applications for cash forecasting, logistics optimization, and financial reporting; and tools for managing assets, vendors, contracts, and service tickets. Their customers have a choice of on-site licensing or SaaS licensing, ideal for larger clients, and web-based applications for
small businesses.

To learn more about Morphis and the services they offer for cash-in-transit and similar businesses, visit us at http://www.morphisinc.com, or contact Debra Miller, Director of Sales at 1 850 748 8007 or [email protected]