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Arkansas Bankers' Bank, a correspondent bank that provides cash management, loan participation and international wire services to 130 stockholder- and customer-owned banks throughout the state, Monday endorsed Shazam, the electronic fundstransfer network, to members.
Arkansas Bankers' Bank also backed Shazam's debit card network for members, James Thomason, the Arkansas Bankers' Bank president and CEO, tells ATM&Debit News.
"Some of our members already are Shazam customers, but we hope with this endorsement, more will become Shazam customers,"Thomason says. "We chose to endorse Shazam because it can offer our members the products
and services they need to succeed."
Shazam welcomes the endorsement, says James P. Ghiglieri Jr., the network's vice president of corporate communications. "It's another wonderful endorsement," Ghiglieri says. "It tells community bankers, they [Arkansas Bankers' Bank] conducted the due diligence for them."
Arkansas Bankers' Bank's endorsement of Shazam follows a recent endorsement by the Community Bankers of Georgia (ADN, 7/31).
The Arkansas Community Bankers, a trade association, endorsed Shazam more than 10 years ago, Ghiglieri says.
Members own and -control Johnston, Iowa-based Shazam, an EFT network serving community financial institutions. Shazam and Little Rock, Ark.-based
Arkansas Bankers' Bank agreed to a three- to five- year contract.
The agreement renews automatically, Thomason says.
