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Arkansas Bankers’ Bank now has private correspondent banking alternative for respondents.
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Arkansas Bankers' Bank has licensed the rights to become a Community Host for the OnWe Network.
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'Arkansas Bankers’ Bank has become an OnWe Network Community Host as part of our efforts to continually increase efficiency and lower operating costs for our respondents,” said James N. Thomason, president and CEO of Arkansas Bankers’ Bank. “In a broader perspective, the Bank now offers a private correspondent banking alternative for our respondents. They now have the cost saving opportunity to completely replace their FedLine Advantage connection with lower cost Arkansas Bankers’ Bank services.”
Arkansas Bankers’ Bank has seen the majority of their 150 respondents adopt image technology over the past year to enhance their customer service and lower their operating costs. Becoming a Community Host for the OnWe Network will now allow the flexibility for each of its respondents to choose the clearing route best suited to their needs.
The OnWe Network differs from national image exchange models by enabling a local approach to meeting the exchange needs of community banks. A bank’s “on us” payments are the least expensive payments to settle because both the payer and the payee are customers of the same bank. With the OnWe Network, a bank can use a similar process with trading partners to save on expenses by conducting the entire clearing and settlement process within the group of banks served by the Community Host.
Arkansas Bankers' Bank Mission is to provide the most efficient products and services at the least possible cost. That’s the reason Arkansas Bankers' Bank is always your correspondent –never your competitor.
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Representatives involved with this story:
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