The PrivateBank Increases Efficiencies with Goldleaf's Remote Deposit Express.
BRENTWOOD, Tenn. -- Please replace the release dated Dec. 12, 2007 with the following corrected version due to multiple revisions.
The corrected release reads:
THE PRIVATEBANK INCREASES EFFICIENCIES WITH GOLDLEAF'S REMOTE DEPOSIT EXPRESS
Technology vendor one of the first to provide remote deposit solution with Web-based CAR/LAR service
Goldleaf Financial Solutions, Inc. (NASDAQ:GFSI), a provider of integrated technology-based solutions designed to improve the performance of financial institutions, today announced that Chicago-based Private Bancorp's Georgia subsidiary, The PrivateBank has been able to significantly improve read rates and increase efficiencies through the Web-based CAR/LAR service of Goldleaf's Remote Deposit Express (RDX).
On average, The PrivateBank transmits between 13,000-15,000 items a month, comprising more than 70 percent of the total number of the bank's items that are running through remote deposit. According to the bank, the CAR/LAR enhancement presents significant time-savings to its customers, as well as read rates close to 90 percent. For some of the bank's larger volume customers, it has reduced the scanning time by half.
"With the Goldleaf enhanced CAR/LAR feature, our clients were able to streamline its operations while reducing the time it took us to proof our merchant deposits," said Colleen Conaty, associate managing director at The PrivateBank. "Business clients have been able to achieve greater productivity and near flawless read rates. Goldleaf has the most robust remote capture solution in the market, and its help desk and support are easily the best in the industry. With Web-based CAR/LAR, RDX is a key differentiator for our bank, especially when competing for core deposits in today's business climate."
Through its technology license from Parascript, an image analysis and pattern recognition technology provider, Goldleaf becomes one of the first remote deposit capture providers to offer a true Web-based CAR/LAR service.
"We are pleased to be working with Goldleaf to enhance productivity of remote deposit capture by offering best-of-breed courtesy and legal amount recognition technology," said Mike Fenton, vice president of sales and operations for Parascript. "Parascript's capability to recognize data from checks and other images is very valuable for remote deposit tasks such as Goldleaf's Web-based CAR/LAR service."
Mark Hancock, executive vice president and managing director of The PrivateBank said, "We have received very positive feedback from our clients on the advantages of RDX's CAR/LAR, which we consider a testament to our success. RDX integrates seamlessly with our core processing system, and as a Web-based solution, offers every benefit from convenience to cost and time savings."
"The PrivateBank has been able to enhance its business and increase its customer's level of satisfaction through our product," said Lynn Boggs, CEO of Goldleaf Financial Solutions. "Using our Web-based CAR/LAR solution allows financial institutions, like The PrivateBank, to leverage technology while increasing the accuracy of information, therefore enabling the bank to be better equipped for today's competitive marketplace. Goldleaf understands a bank's commercial customer relationships very well and because of that understanding we are able to help institutions make money and prosper."
Goldleaf Financial Solutions, Inc., offers a strategic suite of integrated technology and payment processing solutions to community financial institutions. Goldleaf's products and services enable community 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. Goldleaf works with clients through the United States, Caribbean and Central America. For more information about Goldleaf and its set of solutions, please visit the company at www.goldleaf.com.
Safe Harbor Statement
Certain statements made in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control, that may cause the Company's actual results or performance to materially differ from any future results or performance expressed or implied by such forward-looking statements. These statements involve risks and uncertainties, including, without limitation, risks and uncertainties associated with the ability of the Company's suite of products and services to enhance the competitiveness of its clients. These and other risks and uncertainties the company faces are detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company cautions investors that any forward-looking statements made by the Company are not necessarily indicative of future performance. The Company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services.
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|Date:||Dec 17, 2007|
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