Birmingham, AL (June 29, 2004) Image Exchange LLC announced today the intent of First National Banker’s Bank of Baton Rouge, LA to endorse iXchange, Image Exchange’s digital check clearing network designed to accommodate the electronic exchange and settlement of check images for community financial institutions. In addition to recommending Image Exchange to their respondent banks, FNBB will provide the settlement component of Image Exchange for respondents that desire to clear through FNBB.
iXchange provides a network for the exchange of check images and related posting and settlement information. The network offers image exchange with a regional and community bank focus and correspondent settlement flexibility as well as a gateway to other exchanges. Banks who begin digitally clearing checks through iXchange will realize an immediate savings off their monthly Federal Reserve fees. These savings will continue to grow as more institutions join the network.
“We look forward to the opportunity to work with everyone involved with Image Exchange,” said Joseph F. Quinlan, Jr., chairman, president and CEO of FNBB. “We believe their check clearing solution is an excellent choice for our respondent banks and we are pleased to be involved as a settlement agent.”
“We have worked with FNBB on a number of occasions and are continually impressed with the level of excellence achieved within their organization,” said David Brasfield, president of Image Exchange. For them to be a settlement agent of Image Exchange is a natural fit and we appreciate them endorsing us to their customers.”
For More Information Contact:
Karly Field, VP Marketing