The Bankers Bank, an Oklahoma City correspondent, has begun offering image exchange using a new Web-based, hosted service from the Endpoint Exchange LLC unit of Metavante Technologies Inc.
The service, X9 Express Direct, lets the bank, the main operating unit of Bankers Bancorp of Oklahoma Inc., process image files in the standard X9.37 format on behalf of the community banks that use its services. The correspondents are not required to install a dedicated client station or virtual private network router on their own facilities, Metavante said Tuesday.
Endpoint Exchange, the Milwaukee vendor's image-clearing unit, provides the hosting and accepts the check images using secure file transfer protocol over the Internet.
The Bankers Bank and several of its client banks began live processing on May 8, Metavante said. The Oklahoma City bank provides services to more than 240 banks in the region.
Endpoint Exchange is one of the nation's four largest image-clearing networks. The others are operated by the Federal Reserve banks, The Clearing House Payments Co. LLC, and Viewpointe LLC.
