BSG Financial Selected as Endorsed Provider by New Jersey Bankers Association.

Company's Re$ubmitIt program increases bad check collections for business customers, enhances revenue for banks

GALLOWAY, N.J. -- BSG Financial, LLC, a provider of profit-enhancing programs and marketing services to the financial industry, announced at the New Jersey Bankers Association (NJBA) 2008 Bank Senior Management Conference that the NJBA has officially selected BSG Financial as an endorsed provider for its Re$ubmitIt electronic check recovery solution.

According to NJBA officials, Re$ubmitIt is the type of beneficial, non-controversial product they seek to introduce to their member banks. The association recognized Re$ubmitIt as a solution that creates market differentiation and can increase core deposits. With Re$ubmitIt, banks help their commercial accountholders more successfully collect funds from NSF checks and other returned deposit items, while alleviating the burden of the collection process. The completely outsourced program generates income for member banks through a revenue share of the service fee collected from the check writer.

"When we learned that a $16 billion holding company in Pennsylvania with affiliates in New Jersey was planning to implement Re$ubmitIt, we knew this was a service our member banks needed to know about too," said John McWeeney, president and chief executive officer of New Jersey Bankers Association. "What we learned through a comprehensive due diligence process is that Re$ubmitIt fulfills so many of our member banks' objectives, from increasing income to making them more competitive in the marketplace. We're enthusiastically recommending this program to our members."

Business customers are able to transfer the burden of collections to Re$ubmitIt, whose automated process recovers 100 percent of the face value of the returned items its collects for the business. Because of strategic timing of the electronic submissions and multiple attempts to collect, Re$ubmitIt can double the likelihood of recovering funds from the check writer over traditional collection methods, such as letters and phone calls. The program also offers free secondary collections for items that cannot be collected electronically, further enhancing the value of the service for business accountholders.

Re$ubmitIt not only processes paper NSF checks, but also electronic ACH originations and check conversions, including: back office conversions (BOC), accounts receivable conversions (ARC) and Web-authorized payments (WEB). As such, revenue garnered from the program is expected to increase along with the use of electronic payments.

"The endorsement of Re$ubmitIt demonstrates the NJBA's commitment to serve member banks through facilitating their growth and profitability," said Barrett Nichols, founder and CEO of BSG Financial. "We look forward to working closely with this outstanding organization to bring Re$ubmitIt to the community banks it servesObanks that are clamoring for solutions to help them survive and thrive in these difficult financial times."

About New Jersey Bankers Association

The New Jersey Bankers Association has served the New Jersey banking community and its affiliates since 1903, providing continuing education, developing and monitoring state and federal legislative agendas and disseminating financial information to both consumers and the industry alike. For more information, visit www.njbankers.com.

About BSG Financial, LLC

Louisville, Ky.-based BSG Financial develops and manages innovative, profit-enhancing programs for the financial industry. In addition to Re$ubmitIt[R], the company offers CourtesyConnect[R], the industry's first Web-based overdraft management system, ExpenseMark[TM], a sourcing and procurement service to reduce expenses and improve an institution's efficiency ratio; and a Sale/Leaseback program to help banks and credit unions generate capital from non-earning depreciated assets.

BSG Financial, recognized by Bank Technology News as an industry innovator, is privately owned and serves financial institutions nationwide whose assets range from $100 million to more than $35 billion. For more information about the company, visit http://www.bsgfinancial.com/.