Bankers' Bank Northeast, a wholesale correspondent bank in Glastonbury, Conn., has agreed to offer local check-clearing via image to its 165 community-bank customers in New England and New York.
LendingTools.com Inc. of Wichita plans to announce today that the bank licensed the rights to become a community host for its OnWe Network.
Peter J. Sposito, the bank's president and chief executive, said in a press release that LendingTools' image-exchange service would work with the bank's bank-to-bank communications software, called Stars, which most of the bank's clients already use.
Bankers' Bank Northeast is the sixth community host for such local image-exchange services, LendingTools said. Such services seek to lower costs by limiting the number of intermediaries in the process and to standardize the check-processing operations of the client banks.
