Farmers & Merchants Bank Unveils Image Cash Letter Service for Electronic Check Processing
New technology enables organizations to scan and process large quantities of checks electronically, saving time and reducing processing costs.
Long Beach, CA, April 21, 2012 --(PR.com)-- Businesses and nonprofit organizations now have the ability to process large quantities of checks electronically with Farmers & Merchants Bank’s (F&M) Image Cash Letter Service. The software application, commonly known as x9.37, reduces the time, cost and risk associated with transporting paper checks to the bank by allowing customers to scan and process checks remotely.
“Many businesses and nonprofit organizations have long been hampered by the significant financial and time investment associated with processing paper checks,” said Ken Nagel, chief information officer and senior vice president of information technology services for Farmers & Merchants Bank. “F&M’s Image Cash Letter Service will reduce this administrative burden and streamline the deposit and accounting process.”
Image Cash Letter enables users to scan checks at their processing location and securely transmit the images electronically for clearing. The service is intended for users that process a minimum of 2,000 checks per month, including property management companies, churches, healthcare organizations and retailers.
“Image Cash Letter provides our customers a secure and reliable system for remote check processing that will save time, increase cash flow and will work seamlessly with systems they may already have in place,” said Nagel.
Additional information about F&M’s Image Cash Letter Service is available on F&M’s Deposit Services page or by contacting an F&M Electronic Banking Specialist at (866) 437-0011.
About Farmers & Merchants Bank
Founded in Long Beach in 1907 by C.J. Walker, Farmers & Merchants Bank has 21 branches in L.A. and Orange counties. The Bank specializes in commercial and small business banking along with business loan programs. Farmers & Merchants Bank of Long Beach is a California state chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender. For more information about F&M, please call the media contacts listed or visit the website, www.fmb.com.
“Many businesses and nonprofit organizations have long been hampered by the significant financial and time investment associated with processing paper checks,” said Ken Nagel, chief information officer and senior vice president of information technology services for Farmers & Merchants Bank. “F&M’s Image Cash Letter Service will reduce this administrative burden and streamline the deposit and accounting process.”
Image Cash Letter enables users to scan checks at their processing location and securely transmit the images electronically for clearing. The service is intended for users that process a minimum of 2,000 checks per month, including property management companies, churches, healthcare organizations and retailers.
“Image Cash Letter provides our customers a secure and reliable system for remote check processing that will save time, increase cash flow and will work seamlessly with systems they may already have in place,” said Nagel.
Additional information about F&M’s Image Cash Letter Service is available on F&M’s Deposit Services page or by contacting an F&M Electronic Banking Specialist at (866) 437-0011.
About Farmers & Merchants Bank
Founded in Long Beach in 1907 by C.J. Walker, Farmers & Merchants Bank has 21 branches in L.A. and Orange counties. The Bank specializes in commercial and small business banking along with business loan programs. Farmers & Merchants Bank of Long Beach is a California state chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender. For more information about F&M, please call the media contacts listed or visit the website, www.fmb.com.
Contact
Farmers & Merchants Bank
Nick Kopinga
714 426 0444
www.fmb.com
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HKA, Inc. Public Relations
Nick Kopinga
714 426 0444
www.fmb.com
Media Contact
HKA, Inc. Public Relations
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