SOURCE: LendingTools.com

June 23, 2008 08:00 ET

LendingTools.com Opens Technology Development Center in Birmingham, Alabama

WICHITA, KS and BIRMINGHAM, AL--(Marketwire - June 23, 2008) - LendingTools.com, a leading application service provider (ASP) for correspondent institutions serving community banks, announced today it has opened a development center in Birmingham, Alabama. The new site is in addition to a development center located in the company's headquarters in Wichita, Kansas. Primary research and development in the office will focus on network infrastructure support and new service offerings.

Eddie Ageeb, Product Development Manager, joined LendingTools.com in January and now oversees all software development, quality control and change control activities for the company. With 20 years of experience from Marquette Bank and Document Solutions, Inc. Mr. Ageeb has served as Director of Product Quality, Director of Technical Services, Director of Sales Support, Vice President of Client Services and Vice President of Business Development. With the acquisition of Document Solutions by Open Solutions, Inc., Ageeb advanced to Vice President of Operations for the item processing group. Now living in Birmingham, AL, Mr. Ageeb graduated from St. Augustine's College, Nassau, Bahamas, and Control Data Institute, Minneapolis, Minnesota.

"We selected Birmingham for the location of this office because of its pool of technology talent with banking experience," stated Theron Goering, Chief Information Officer for LendingTools.com. "Alabama has a favorable business climate and it meets our needs for geographic separation of operations to facilitate disaster recovery functions."

LendingTools.com sells a comprehensive series of services to establish private correspondent bank environments. The services include over 30 transaction types for cash management including originating and processing ACH items and domestic and international wires as well as image deposit, cash letters and exchange. The daily dollar value processed through the services exceeds two billion dollars and is growing rapidly.

"A pillar of commitment to our customers is uninterrupted, fast response for their daily business transactions," stated Ageeb. He continued saying, "that requires us to be forward looking in our infrastructure capabilities and new service offerings. To ensure only the best service continues to be provided to our customers, a core goal of the Birmingham staff will be to keep our capabilities comfortably ahead of the performance curve as we grow." Initial staffing for the Birmingham office has been completed.

About LendingTools.com

LendingTools.com, Inc. specializes in the design and delivery of web-based applications for the financial services industry and delivers them through correspondent processing organizations. Its OnWe® Network provides a low cost option for community bank image exchange through a series of OnWe Network Community Hosts. Over 28 percent of the nations' banks utilize one or more LendingTools.com services daily to originate and process ACH, wire, and imaged check transactions valued in excess of two billion dollars. Among others, OnWe, onwe, On-We and on-we are registered trademarks of LendingTools.com. "The last mile for image exchange" is a registered service mark of LendingTools.com. A privately held corporation, LendingTools.com was founded by and is now operated by former bankers. Please visit www.LendingTools.com and www.OnWe.com for more information.

Contact Information

  • CONTACT:
    Larry Best
    Chief Marketing Officer
    LendingTools.com
    (316) 239-3404
    Email Contact