Goldleaf Technologies Partners with Intelligent Banking Solutions

Goldleaf Launches Remote Deposit Express Service
New Service Allows Financial Institutions to Offer Check Truncation Independent of Merchant Location or Backroom Check 21 Capabilities

Brentwood, TN, January 1, 2005 - Goldleaf Technologies today announced the launch of its Remote Deposit Express service, enabling community financial institutions to accept check deposits electronically from merchants. The service is an optional module now available on Goldleaf’s industry-leading, Web-based ACH origination system, Goldleaf Client. Last year, approximately 400 financial institutions originated over $15B in ACH transactions on behalf of 3,000 companies using Goldleaf Client.

“ The Check 21 pundits were half right,” says Paul McCulloch, Goldleaf President and CEO. “Check truncation was supposed to begin in the bank’s backroom, slowly make its way to the teller line, and, eventually, years later, reach the merchant site. All of this will happen, but big banks have reversed the sequence and introduced a competitive urgency to Check 21 right now in 2005,” insists McCulloch, referring to recent announcements by Bank of America, Wachovia, and other super-regional banks that are rolling out remote deposit/capture services to entice commercial clients located outside their respective branch footprints. “The race is on,” he says, “and whoever puts the scanner at the merchant site first wins.”

“ Community financial institutions are no longer limited or protected by their geography,” adds David Peterson, Executive Vice President of Goldleaf. “Implementing Remote Deposit Express is not just a defensive move against competitive encroachment; it’s an offensive strategy for securing deposit relationships beyond traditional branch borders,” he continues. “Whether your priority is building lost-cost core deposits to fund loan growth, expanding your market reach without the expense of additional branches, or protecting your most profitable business accounts, Remote Deposit Express is the answer.”

Remote Deposit Express is a Web-based, bank-branded, front-end solution that requires no software installation. Merchants scan, truncate, and submit checks electronically through a secure, 128-bit RS4 encrypted Internet connection. Financial institutions may process the standardized X9.37 image files electronically or on paper as substitute checks, making implementation of Remote Deposit Express independent of an institution’s Check 21 readiness on the backend.

Remote Deposit Express is a simple, optional module on the existing Goldleaf Client system many financial institutions already use to provide ACH origination services via the Web. As such, financial institutions may now offer remote deposit (i.e., check truncation) services and/or ACH origination/check-conversion services to participating businesses via a single Web-based, front-end solution using a check scanner.
For more information on Remote Deposit, call 877-999-BANC or email your inquiry to info@goldleaf.com.

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