Independent Bankers Financial Corp. of Irving, Tex., has agreed to use the Private Correspondent Suite of services from LendingTools.com Inc. for financial transactions and cash management services at its TIB-The Independent BankersBank.
LendingTools said Monday that TIB, the largest U.S. bankers' bank, plans to use the suite, which it will rebrand as TIBlink, to process nearly 30 types of transactions, including automated clearing house transactions, domestic and international wire transfers, federal funds management, and many pass-through transactions.
TIB plans to let its more than 1,300 correspondent banks offer LendingTools' business services to their customers, including ACH origination and management, wires, account options, remote deposit capture, and multifactor authentication, LendingTools said.
Eric Goering, the Wichita vendor's president, said TIB's conversion to his company's services from technology developed in-house should be complete by the fall, enabling TIB's correspondents in 46 states, Guam, and Bermuda to begin offering cash management services under their individual brands to business customers.
