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Goldleaf Announces Sierra Xpedite Retail Remote Deposit Solution

^{Published on 2008-11-18 06:07:53 - Market Wire}
 

ATLANTA--([ BUSINESS WIRE ])--[ Goldleaf Financial Solutions Inc ]. (NASDAQ:GFSI), a provider of integrated technology-based solutions designed to improve the performance of financial institutions, today announced its Sierra Xpedite Retail Remote Deposit solution allowing financial institutions to extend the reach of remote deposit across retail customer segments including consumers, micro businesses and small businesses. Sierra Xpedite Retail Remote Deposit is a new Goldleaf browser-based client application built using rich user interface technology with optimized workflows to meet the specific needs of small volume depositors. The solution facilitates the cost effective deployment of remote deposit functionality to financial institution retail customer segments through support for commercially available flatbed and multi-function (print, scan, copy, fax) scanning devices many users already have.

Retail banking is incredibly competitive, forcing financial institutions to continuously offer new products and services that are simple, intuitive and cost effective. Sierra Xpedite Retail Remote Deposit is a high value offering that allows users to make bank deposits from the convenience of their home or office, saving trips to the bank or a nearby ATM. The solution can also be fully branded and integrated with online banking and portal sites that are already familiar to users, leveraging the financial institutions' investments in existing systems.

"Ultimately, whether this is rolled out to specific, high value customer segments or to the mass market of consumers, financial institutions will need to offer a scalable, easy to deploy consumer remote deposit solution to remain competitive," said Lynn Boggs, CEO of Goldleaf Financial Solutions. "As a market leader in remote deposit, image capture and other payments solutions, Goldleaf has deep domain knowledge of the risks, security and compliance considerations that accompany this offering. We are a proven deposit automation leader that understands the complexities and technologies that are involved in deploying this product."

The solution has built-in risk mitigation procedures, including multi-factor authentication and duplicate item detection, but Boggs points out that institutions still need to perform due diligence on their customers to ensure they meet certain criteria. For instance, customers may be required to have existing relationships in good standing with the institution or may be subject to a credit analysis or lengthier hold times. Goldleaf's Sierra Xpedite's Retail Remote Deposit may be particularly attractive to institutions with a geographically diverse customer base or those with a strategic focus on expanding beyond their existing footprint.

"Retail remote deposit is truly a way for institutions to differentiate themselves in the market today," Boggs continued, "With more than 100,000 deposit automation users deployed worldwide, Goldleaf has solidified its position as a leading authority on remote deposit capture. This is a simple evolution of our successful Sierra Xpedite product line, and it reinforces our mission to anticipate and exceed the needs of Goldleaf's customers."

A preview of Sierra Xpedite Retail Remote Deposit will be demonstrated to attendees of the BAI Retail Delivery Conference and Expo in Orlando, Fla. this week. The solution will be available in the first quarter of 2009.

About Goldleaf

Goldleaf Financial Solutions, Inc. offers a strategic suite of integrated technology and payment processing solutions to financial solutions of all sizes. Goldleaf's products and services enable financial institutions to succeed in today's competitive market, solidify their trusted financial relationships, expand their presence and improve profitability through the efficient use of technology. Goldleaf works with clients across six continents. For more information about Goldleaf and its solutions, please visit the company at [ www.goldleaf.com ].

Safe Harbor Statement

Certain statements made in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control, that may cause the Company's actual results or performance to materially differ from any future results or performance expressed or implied by such forward-looking statements. These statements involve risks and uncertainties, including, without limitation, risks and uncertainties associated with the ability of the Company's suite of products and services to enhance the competitiveness of its clients. These and other risks and uncertainties the company faces are detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company cautions investors that any forward-looking statements made by the Company are not necessarily indicative of future performance. The Company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services.