Executive National Bank annouces Remote Deposit Service for community associations

Online, November 18, 2009 (Newswire.com) - Executive National Bank introduces "Deposit Advantage" a revolutionary remote deposit solution which was created to meet the demands of the community association industry.

The new service which was designed by RemitPro, allows a management company to make deposits directly from their office without the need for deposit ticket and endorsing the checks. Using the newest OCR and Car/Lar recognition software the management company can use a single scanner to make deposits to multiple accounts in a user-friendly platform.

The system is customizable to allow the integration of payment coupons or barcode. By using payment coupons each scanned check can be assign to a Unit ID or homeowner's account ID. This not only creates a very detail reporting of the payments but also allows for integration with most accounting software's.

"Basically, we have created a solution that can be deployed as an in-house lockbox for any size management company", said Cesar Delanoval, Senior Vice President of Executive National Bank. "We have received great acceptance of this new service; management companies can benefit greatly by using this new technology. Now they can do the deposit and posting process in half the time with the use of fewer employees, while at the same time imaging all the checks. It's a win-win situation, Everyone wins"

The system provides image retrieval of previously scanned checks, settlement reports, Excel downloadable files, virtual endorsement profile and multi-account processing. Deposits are posted on the same if processed before 5:30 p.m. EST.

For more information about this program, contact Cesar Delanoval at (305) 256-3311 or (305) 274-8382