Merchant Remit improves processing speed and accuracy for check payments — with or without coupons or other types of supplemental payment documentation.

In deciding to replace another remittance system, the bank selected Goldleaf's Merchant Remit with its "project builder" module due in part to the capability to pre-define item processing rules for specific lines of business. With this technology, Farmington Savings Bank provides customized processing to a major property management company with 65 separate entities, generating hundreds of checks per day for deposit.

"Goldleaf's remittance/lockbox solution is built on a commercial-based platform and easily interfaces with our core system," said Kenneth Jones, system engineer at Farmington Savings Bank. "Previously, we had to re-process remit deposits through the teller system, and our reporting functions were cumbersome. Merchant Remit allows us to automatically process checks only, without batching, and it integrates seamlessly into our Check 21 environment. Merchant Remit generates accounts receivable posting files and reports while retaining all MICR information for research and retrieval. Another driving factor in our selection process was the capability of Goldleaf's Merchant Remit to expand as we bring on more customers and lines of business, without the time and expense of custom outsourced programming."

"Farmington Savings Bank has served its communities for more than 150 years with a commitment to the highest level of service," said Lynn Boggs, CEO of Goldleaf Financial Solutions. "The advanced technology of the Merchant Remit system allows the bank to provide flexible and efficient automated payment processing for specific lines of business required by its commercial accounts. This partnership with Goldleaf is yet another example of how Farmington Savings is expanding its offerings to provide its customers the highest level of satisfaction."