SOURCE: BankServ

January 08, 2008 10:00 ET

BankServ's Global Funds Exchange (GFX) System Impresses New Client, Park Bank, With Its Remarkable Speed and Advanced Features

SAN FRANCISCO, CA--(Marketwire - January 8, 2008) - BankServ (www.bankserv.com), worldwide experts in electronic payments, today announced that Park Bank of Milwaukee has joined BankServ's GFX Service Bureau. Park Bank, the 7th largest bank in metro-Milwaukee, has been added to the growing list of more than 100 financial institutions that use BankServ's GFX system for Fedwire transactions.

Park Bank signed with BankServ in August of 2007 and was fully up and running with the new and improved GFX 2.12 platform on December 12. The Park Bank GFX implementation was a success from the outset, resulting in the completion of the bank's wire transfers in record time on their first day of production.

"If every day goes as well as our implementation day, GFX is worth every penny," commented Kim Seidel, Vice President, Park Bank. "Our wire transfer reps are very happy with the GFX system and love how easy it is to use. Our banking clients are also very satisfied with the new wire system and are extremely impressed with GFX's speed. One of our clients was thrilled when he received a GFX wire confirmation well in advance of the bank's previous process and even before the sending bank sent an acknowledgement."

"BankServ is very pleased to have our new bank customers and their clients experience the same high level of satisfaction enjoyed by all our long-time users of our GFX Service Bureau," comments Dennis Mierzwa, Vice President of Wire Services, BankServ. "BankServ works very hard to perfect and frequently adds valuable, ground-breaking features to the GFX system -- both to keep our current wire clients satisfied and to bring in new business. BankServ offers some of the most advanced electronic payment and wire services across the globe."

New features of the 2.12 release of BankServ's GFX wire system include system monitoring alerts as well as email alerts, enhanced operator history and audit trail functions, and ability to cross reference users and accounts, creating a flexible hierarchy for account and transaction access. GFX 2.12 also supports the next generation of BankServ's GFXWeb products as a secure solution for remote access, combining multi-factor authentication and customer friendly and efficient workflow. Mierzwa comments, "GFX 2.12 reflects BankServ's commitment to remain a top leader in the field with our GFX Service Bureau and other payment solutions."

Today, BankServ maintains the largest number of clients processing in its fully-redundant GFX Service Bureau. As a leader in electronic payments, BankServ continues to differentiate itself through both its service bureau and in-house offerings across a wide range of payment services including Fedwire, FX, SWIFT, and Check21 processing.

About BankServ

Since 1996, BankServ has been developing and delivering electronic payments technology for financial institutions across the globe, including systems for Fedwire, SWIFT, online payments and Check 21. BankServ, the largest Federal Reserve approved Fedwire vendor, currently has over 100 Financial Institutions in the United States using Global Funds Exchange. More information about privately held BankServ can be found at www.bankserv.com.

About Park Bank

Park Bank of Milwaukee, WI, takes relationship banking to a higher level: true partnership. As one of the largest independent commercial banks in Southeastern Wisconsin, with assets exceeding $800 million, Park Bank has succeeded by building long-term relationships and consistently putting its customers' interests first. More information about Park Bank can be found at www.parkbankonline.com.