ATLANTA, July 16, 2009 (GLOBE NEWSWIRE) -- Goldleaf Financial Solutions Inc. (Nasdaq:GFSI), a provider of integrated technology-based solutions designed to improve the performance of financial institutions, today announced that Los Angeles-based 1st Century Bank has selected the company's Automated Clearing House (ACH) solution.
As one of Southern California's most well capitalized banks and $260 million in assets, 1st Century Bank's goal is to gain large core deposit accounts. In order to do so, it needed to blend its service-based offerings with the full range of technology that its larger competitors offered. It selected Goldleaf's ACH Solution to meet this need and immediately secured its largest checking account client due to its increased ACH capabilities.
"We are at a very opportune time for community banks; small is viewed as being safe, and those of us with strong capital and solid equity are in the position to win highly-coveted accounts," Steve Goodrich, senior vice president, head of banking at 1st Century Bank, explained. "Goldleaf's ACH Solution offers us a very sophisticated system that appeals to money center bank clients. We selected the solution for its advanced reporting capabilities and robust features that would attract new clients. It has made our processes much more efficient as well."
Goldleaf's complete ACH solution includes comprehensive training that covers daily operations, risk management, security, digital compliance, and marketing. 1st Century Bank executives estimate that all of its 700 clients that have a high ACH volume will elect to use the Goldleaf solution. The bank has already migrated some of its repetitive payments, to the ACH Solution to make daily operations more efficient. "The transition to the Goldleaf platform was so clean that our clients did not even know we had made the change," Goodrich said.
"Goldleaf's ACH Solution is a way for 1st Century Bank to be proactive in strengthening existing relationships while continuing to build new ones," Lynn Boggs, CEO of Goldleaf, said. "Our solutions excel in financial institutions of all sizes. In the case of 1st Century Bank, its clients will be able to easily transition from [banking with] tier one institutions while still realizing all of the same technology benefits. What is more, the bank has been able to substantially enhance its internal efficiencies in the process."
About Goldleaf
Goldleaf Financial Solutions, Inc. offers a strategic suite of integrated technology and payment processing solutions to global financial institutions of all sizes. Goldleaf's products and services enable financial institutions to succeed in today's competitive market, solidify their trusted financial relationships, expand their community presence and improve profitability through the efficient use of technology. For more information about Goldleaf and its solutions, please visit the company at www.goldleaf.com.
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