LT Introduces New Correspondent Services to Speed and Ease Operations
Wichita KS, June 14, 2011, - LendingTools.com, Inc. (LT) launches two new services that further enhance their industry-leading Correspondent Gateway designed specifically for correspondent institutions. Live Wire and ACH Advance both support a commitment to provide clients with real-time processing, increased operational efficiencies and cost savings so they may focus on their core competencies.
LT has vast experience interfacing to in-house and third-party wire transfer platforms that have ranged from basic, manual batch processes to advanced, near-real-time processing systems. LT’s new Live Wire service enables clients to take advantage of real-time processing of wire transfer transactions and a direct interface to the Federal Reserve without adding the expense and overhead of an additional third party provider. By integrating directly with processing channels, LT provides clients with real-time balance validation to immediately process both domestic and US dollar foreign wires, followed by immediate notifications, account posting and reporting, in an affordable, all-inclusive system. Live Wire is fully integrated into LT’s white-labeled Correspondent Gateway (SaaS) and, when combined with the system’s other available real-time modules, creates a true real-time processing environment for its users.
ACH Advance enables LT to act as an outsourced sending point, receiving point or disaster recovery site for ACH files and related activity with the Federal Reserve on behalf of client institutions. Instead of manually uploading and downloading files from one terminal to another or relying on in-house automation, LT’s ACH Advance clients benefit from an unattended solution that integrates the entire ACH transaction workflow from originator to ACH operator and back, all in a single system.
'Implementing Live Wire and ACH Advance to our daily operations has given us the ability to increase our daily wire and ACH volume without increasing staff. Unattended automation allows our staff to focus on what matters - compliance and risk exception transactions rather than on delivering files,” said Rachel Carlson, IT Systems Analyst with Bankers’ Bank Northeast, an early adopter. “Our clients benefit by seeing their activity in real-time; no more waiting for confirmations to be delivered.”
'Since LT is Bankers’ Bank Northeast’s service provider for our bank to bank communications platform, not only was LT the logical choice for real-time wire delivery, the addition of this enhancement to our platform made good financial sense for us and our clients; we are able to deliver faster and more efficient customer service without raising fees.”
“Both of these enhanced services complement our commitment to bringing the latest technology to our correspondent customers,” said Mike Isaacs, President and CFO of LT. “One of LT’s greatest strengths is the ability to deliver customized solutions as a service for the diverse processing needs of our clients.”