Cambridge Mercantile Group and LendingTools.com Sign Deal to Offer Banks and Credit Unions Superior Efficiency with International Wire Transfers
--Cambridge Mercantile's online platform now integrates with the LendingTools.com (LT) Correspondent Gateway -- Financial Institutions working with LT can depend on Cambridge's reputation for secure international wire transfers with high performance in Straight-Through-Processing -- Top features include automated workflow, user-friendly interface and complete visibility into all post-transaction records.
TORONTO, ONTARIO, Aug 12, 2014 (Marketwired via COMTEX) -- Cambridge Mercantile Group, a global payment and risk management solution provider, is pleased to announce its recent partnership with LendingTools.com, innovator of the Correspondent Gateway, the industry leading, all-inclusive correspondent payment platform. Through this collaboration, LT will offer its bank and credit union users a world-class solution for international wire transfers that streamlines all transaction processes, ensuring optimal precision and providing greater access and control of all remittances.
As the number of businesses who expand their reach globally continues to grow, so too does the demand for fast and reliable payment solutions with competitive currency rates. Financial Institutions that already receive excellent support with LT for their correspondent payment needs will enjoy the customer experience provided by Cambridge's account team with more than 100 years combined knowledge behind them.
"Cambridge has an impressive platform that integrates seamlessly with the Correspondent Gateway and complements our existing clearing capabilities. We look forward to providing our own clientele with the benefits this end-to-end system has to offer, among which include automated workflow, intuitive user interface, and comprehensive remittance reporting," said Jon Budd, senior vice president, Sales, LT.
"We know the unique challenges that financial institutions manage in their day-to-day business inside out and this helps us serve our clients through a very consultative and proactive approach," said Mike Rockouski, senior vice president, Financial Institutions, Cambridge Mercantile Group. "LT has a strong reputation in this market and we hope that through our expertise we can help them continue to grow the business."
Headquartered in Wichita, KS, LT specializes in the design, delivery and integration of web-based applications for correspondent financial institutions and their respective customer base. Over 20,000 users from more than 3,000 financial institutions utilize LT services on a daily basis. LT is SSAE16 (formerly SAS 70 Type II) Certified and is regulated and examined under FFIEC guidelines as a Technology Service Provider. A privately-held, Kansas Corporation. Please visit www.LendingTools.com for more information.
About Cambridge Mercantile Group
Since its inception in 1992, Cambridge Mercantile Group has grown to become a leading provider of global payments and currency risk management solutions. With more than 14,000 clients worldwide, Cambridge is among the largest bank-independent providers of hedging and risk management products, powered by technologies widely regarded as industry leading. Cambridge delivers a superior level of service to clients through extensive knowledge of foreign exchange and award-winning operational capabilities, supported by an experienced trading, account management and consultative sales team. With offices strategically located across the globe, including North America, Europe and Australia, Cambridge facilitates the secure movement of over $23 billion annually. For more information, visit www.cambridgefx.com .