Sharon Savings Bank Successfully Implements BSG Financial's CourtesyConnect, Re$ubmitIt.Both Programs Help Bank Increase Non-Interest Income, Add Value to Accountholders LOUISVILLE, Ky. -- BSG BSG Battlestar Galactica BSG Broadband Stakeholder Group (UK) BSG British Society of Gastroenterology (London, UK) BSG Business Systems Group BSG Business Solutions Group BSG Basigin Financial, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a provider of profit-enhancing programs and marketing services to the financial industry, announced that Darby, Pa.-based Sharon Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. has successfully implemented CourtesyConnect[R], BSG Financial's Web-based overdraft protection solution, and Re$ubmitIt[R], the technology provider's electronic check recovery service. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. bank officials, Sharon Savings Bank ($163 million in assets) chose BSG Financial based on industry referrals and the company's high level of organization through detailed and personal project management. CourtesyConnect simplifies the process for making fair and prudent pay-return decisions, manages client contact and increases the bank's non-interest income. Re$ubmitIt also adds a new source of revenue and enhances the bank's relationships with business accountholders by improving collections on NSF checks NSF check A check not honored by the bank on which it was written because of insufficient funds in the drawer's account. An NSF check is an overdraft. . "Sharon Savings Bank has been serving Pennsylvania's Delaware County Delaware County is the name of six counties in the United States of America:
CourtesyConnect, the Web-based platform for managing overdrafts, provides the outsourced, profit-enhancing functions sought by the bank, which did not want to build or host the program in-house. In addition, CourtesyConnect ensures compliance with all federal guidelines and features a household view of multiple account relations to facilitate sound accountholder decisioning. "There is great potential impact on a financial institution's non-interest income in offering a courtesy overdraft program, and BSG Financial provides the most compliance-focused and consumer-centric approach to this means of profit-enhancement," said Barrett Nichols, founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BSG Financial. "As a Web-based program, CourtesyConnect enables Sharon Savings Bank to give its customers a service they have come to expect without having to invest in additional hardware or IT staff." The Re$ubmitIt program takes advantage of electronic check processing technology, resulting in recovering more funds from NSF NSF - National Science Foundation items in less time than traditional collection methods. Re$ubmitIt helps Sharon Savings Bank increase revenue and offer a valuable benefit to commercial accountholders. In addition to generating revenue through the successful collection of bad checks, Re$ubmitIt can also re-submit other NACHA-formatted electronic items, allowing the bank to leverage the program to increase revenue beyond paper checks. "We consider Sharon Savings Bank to be our partner not only in generating additional income, but also in upholding their commitment and high-level service to their customers," Nichols said. About Sharon Savings Bank Sharon Savings Bank, established December 1873, is a mutual, state chartered bank Chartered Bank A financial institution whose primary roles are to accept and safeguard monetary deposits from individuals and organizations, and to lend money out. The details vary from country to country, but usually a chartered bank in operation has obtained government permission based in Delaware County, Pa. The bank serves surrounding areas with three branch offices and an Administration and Lending office located in Delaware County, as well as two branch offices located in South Philadelphia South Philadelphia, nicknamed "South Philly," is the section of Philadelphia bounded by South Street to the north, the Delaware River to the east and south, and the Schuylkill River to the west. South Philadelphia is coterminous with the zip codes 19145, 19146, 19147, and 19148. . Sharon Savings Bank currently has $190 million in assets. For more information about the bank and its products and services, visit www.sharonbank.com. About BSG Financial, LLC Louisville, Ky.-based BSG Financial develops and manages innovative, profit-enhancing programs for the financial industry. Its flagship program, "The Responsible Approach[TM]", uniquely provides the industry's first outsourced solution for courtesy overdraft management, CourtesyConnect[R], as well as the in-house OverdraftHonor[R] program. The company also provides Re$ubmitIt, an electronic recovery solution for returned deposit items that increases income for financial institutions and their commercial customers, and a sale/leaseback program to help banks and credit unions generate capital from non-earning depreciated Depreciated may refer to:
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 $28 billion. For more information about the company, visit www.BSGfinancial.com. |
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