inBusiness will promote Image Exchangeâs iXchange, a digital check clearing network. iXchange was designed specifically to assist community financial institutions in taking full advantage of the recently passed Check Clearing for the 21st Century Act.
Image Exchange will promote inBusinessâ outReach financial management software that helps banks strengthen their operations, increase non-interest income, and extend their consumer and business service offerings in effort to create a unique and sustainable competitive advantage.
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.
"The people behind Image Exchange have serviced the community banking community for a number of years," said Kevin Anderson, co-founder of inBusiness. "The powerful exchange network they have developed provides a valuable service to community banking industry," he said.
The outReach software suite includes DDA Overdraft Tracking & Reporting Module, Loan Past Due Tracking Module, Customer Response Module, and LEAP, their Loan Extension Account Program. inBusiness also offers Overdraft Shelter, an overdraft solution that allows bank customers to overdraw their account within pre-determined limits in times of need and Check Pursuit, a free check recovery service offered through banks to their business customers and direct to individual business.
"We recognize that the services that inBusiness provides to community banks are very valuable," said David Brasfield, president and CEO of Image Exchange and Brasfield Technology. "The more a bank is able to examine and manipulate its customer data through inBusinessâ software solutions, the better service it is able to provide to its customers, resulting in a successful, growing institution."