Source: Goldleaf Financial Solutions
Goldleaf Financial Solutions (NASDAQ:GFSI), a provider of integrated technology-based solutions designed to improve the performance of financial institutions, today announced Square 1 Bank, with offices nationwide, has successfully deployed its Remote Deposit Express (RDX) solution to more than 60 percent of its customer base.
With approximately $900 million in assets, Square 1 Bank provides financial services to venture capital firms and their portfolio companies. According to bank executives, most of its customers are early stage companies and, in addition to needing core banking products such as checking accounts, money market accounts and online access, they also needed the ability to make easy, timely, efficient deposits. Whether customers had one check or one hundred checks, this market segment demanded the most sophisticated technology available, which led the bank to explore Goldleaf's solution. The bank selected Goldleaf's remote deposit solution based on a number of criteria.
"As part of our strategy, Square 1 Bank demands forward thinking partners who provide solutions that best suit our customers' needs," said Donna Connolly, senior vice president, treasury management, Square 1 Bank. "Our customers are well ahead of the technology curve, and as a result, we consider it paramount that we are well-prepared to meet their expectations. While there were many reasons that Square 1 selected Goldleaf, one of the most important was their reputation for exceptional customer service. Customer relationships are our number one priority and that same philosophy holds true for Goldleaf. They are knowledgeable, responsive and customer-focused, which makes them a perfect match for Square 1 Bank."
From her past experience in the banking industry, Connolly knew about the benefits of remote capture and used some of that knowledge when evaluating vendors. After extensive consideration of various vendors, Goldleaf came out on top based on RDX's ease of use, price, functionality and simple deployment. According to Connolly, since the technology is still relatively new to the market, she knew it would be evolving and wanted to be sure that it was a solution where the investment would be easy to scale. In addition, given Goldleaf's longevity in the market and expertise in ACH, Connolly felt Goldleaf would remain a market leader.
Goldleaf's scanners and functionality also played a role in the selection of RDX. RDX enables customers to download the drivers directly from the Internet, which catered directly to Square 1 Bank's tech savvy customer base. Customers did not have to install any software and receive downloads or upgrades in the mail, and additionally, nothing needed to remain on Square 1's servers.
Lynn Boggs, CEO of Goldleaf, said, "Goldleaf's Remote Deposit solution was designed to be easy to use, while leveraging robust and sophisticated technology for maximum functionality. Square 1 Bank's unique business model forces the bank to have the latest technology and, working together, we have ensured they have a superior remote capture solution to offer their customers. For both our companies, exceeding the expectations of our customers is not just a goal - it's our mantra. Providing the best products and services is one thing, but coupling it with excellent customer service is truly a differentiator in today's market."