CHICAGO, April 16 -- LendingTools.com, a leading application service provider (ASP) for correspondent institutions and community financial institutions, announced today at NACHA Payments 2007 the availability of ExtraNet FP ACH Risk Management. The new product is delivered as an integrated module of the company's successful ExtraNet Financial Portal in use by over 2,000 community financial institutions for internal and corporate cash management services.
ACH transactions and dollar volumes continue to grow at double-digit rates. The ACH Risk Management module provides a comprehensive, integrated platform to monitor the growing and increasingly complex business of ACH origination. With the new OCC guidelines for monitoring ACH risk, it is more important than ever for community financial institutions, as well as their correspondent institutions, to implement tools that help monitor the risks associated with ACH activities. LendingTools.com's ExtraNet FP ACH Risk Management solution will help community financial institutions comply with ACH risk management guidelines with one simple, integrated platform.
"Designed specifically for community financial institutions, ExtraNet FP ACH Risk Management is a new component of our transactional portal platform offering," explained Eric Goering, president and CEO of LendingTools.com. "With our ACH Risk Management system, community financial institutions will have more visibility and control over their ACH origination activities than ever before. With improved risk management, they will be able to increase their fee income by pursuing new ACH origination customers."
LendingTools.com is an exhibitor at NACHA Payments 2007. The conference is taking place at the Hyatt Regency Chicago. During the conference, attendees may receive additional information about ExtraNet FP ACH Risk Management at the LendingTools.com exhibit booth.
LendingTools.com, Inc. specializes in the design and delivery of web-based applications for the financial services industry and delivers them through correspondent processing organizations. Its OnWe Network provides a low cost option for community bank image exchange through a series of OnWe Network Community Hosts. Over 2,000 financial institutions utilize one or more LendingTools.com services daily to originate and process ACH, wire, and imaged check transactions valued in excess of one billion dollars. LendingTools.com, Inc. is a privately-held Kansas corporation, and was founded by and is operated by bankers. LendingTools.com maintains two offices and data centers in Kansas and an office in Dallas, Texas.
Please visit www.lendingtools.com/ and www.onwe.com/ for more information.
CONTACT: Larry Best, Chief Marketing Officer of LendingTools.com, Inc.,
+1-316-267-3200, ext. 104, LBest@LendingTools.com
Web site: www.lendingtools.com/