User:Ddecaluwe/sandbox

WAUSAU Financial Systems was initially founded in 1974 as Wausau Accounting Systems. . Today WAUSAU Financial Systems is a privately held company specializing in point-of-presentment processing technology and services, headquartered in Mosinee, Wisconsin.

History
WAUSAU Accounting Systems installed its first magnetic ink character recognition (MICR) capture system in 1982. In 1988 WAUSAU Accounting Systems officially changed its name to WAUSAU Financial Systems. WAUSAU Financial Systems acquired SoftCHECK, a company specializing in deploying image and item processing systems, in 1997.

In 1997 WAUSAU also acquired Culverin Corporation assets, allowing WAUSAU to offer remittance processing technology. That same year WAUSAU and CheckFree ACH Solutions, a business unit of CheckFree Corporation, announced a check conversion option for remittance processing customers.

In 2002, WAUSAU along with Zions Management Services Company, EDS and the Western Payment Alliance (WesPay), announced a plan to organize a forward presentment pilot for financial institutions, allowing financial institutions to capture images throughout the entire payment process. . WAUSAU announced in April of 2003 that they, along with NetDeposit, had products to handle new regulations proposed under the Check 21 act, which allowed a "[|substitute check]" (otherwise known as an electronic check image) to have the same legal status as the paper check. . Check 21 passed on October 28th, 2003.

In 2005 WAUSAU was purchased by Frontenac Corporation, a private equity firm based in Chicago. . Simultaneously with the sale of WAUSAU, WAUSAU purchased its development partner, Kyris Imaging Software. The move was an effort to position WAUSAU Financial Systems for growth in the remittance processing and retail and wholesale lockbox processing sectors.

In 2007 WAUSAU Financial Systems announced the acquisition of Data Management Products, Inc., (DMP), giving WAUSAU a wholesale lockbox process. In 2008 WAUSAU expanded its partnership with First Data, Corporation, giving WAUSAU the capability to offer outsourced retail.

WAUSAU then partnered with Eastern Bank in 2010 to acquire their wholesale lockbox operations and convert it to an outsourced lockbox processing center.

Headquartered in Mosinee, Wisconsin, today WAUSAU has nearly 400 associates throughout the United States.

Industry Awards

 * 2002: Wausau Financial Systems is honored as The Association for Work Process Improvement (TAWPI) as the "Hall of Fame" winner, denoting significant contributions toward the advancement of information capture technology.
 * 2006: Wausau Financial Systems is awarded the "Best of Breed" Remote Capture solution by industry analyst group Celent.
 * 2007: Recipient of the BAI Innovation Solution Award in 2007 for its Enterprise Content Management document handling solution.
 * 2008: Wausau Financial Systems is declared "Best in Class" Remote Corporate Capture solution for large and medium-sized banks by independent analyst firm Aite Group.
 * 2009: Wausau's Paperless Branch solution named "Best Management Solution" by BankNews.
 * 2011: WAUSAU recognized as OPEX Corporation's #1 reseller.