Goldleaf Financial Solutions (NASDAQ:GFSI), a provider of integrated technology-based solutions designed to improve the performance of financial institutions, today announced that Dallas-based Lone Star Credit Union has selected the company's Automated Clearing House (ACH) solution.
Goldleaf's complete ACH solution includes comprehensive training that covers daily operations, risk management, security, compliance, and marketing.
According to Brian Harper, CFO for Lone Star, the credit union began looking for an ACH solution as a way to automate payroll processing for a member business owner that had rapidly expanded from four to 400 employees. Goldleaf's browser-based ACH solution enables Lone Star's member business owners to gain efficiencies quickly, automating payroll processing, accounts receivables and payables to improve cash flow. As demand continues to grow, Lone Star has been able to streamline electronic payments for member business owners using Goldleaf's ACH, while also reducing costs and maintaining the integrity of the data through controlled security access.
"Functionality was one of the biggest benefits of the Goldleaf ACH platform," Harper said. "Goldleaf easily offered the most robust and scalable solution, which allows us to create a tailored environment for our member business owners based on their specific needs. There is nothing else comparable to the Goldleaf ACH solution in the market today, and we believe this differentiates our credit union from other institutions. The scope and depth of its platform is a compelling value proposition, one that has enabled our credit union to provide leading products and services to our member business owners."
Harper also cited the immediate impact of the solution - its member business owners were able to reap efficiencies and productivity gains on day one. By automating the process, Lone Star was able to revamp its entire ACH process, saving money by settling directly with the Federal Reserve, while also minimizing internal resources that could be re-deployed to focus on additional strategic initiatives.
Todd Shiver, EVP of Goldleaf Financial Solutions, said, "Our mission is to help our clients succeed and improve efficiencies, increase profitability, be more competitive and provide the best products and services in their market. We believe Goldleaf's ACH solution enables Lone Star Credit Union to stand apart from the competition, while also demonstrating its strategic focus and member-centric approach to providing products and services."