CheckAlt Selected by Atlantic Coast Bank to Process Payments for ATM, Business Customers

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Atlantic Coast Bank Chooses CheckAlt for ATM and Remittance Processing Expertise

CheckAlt today announced that it has been selected by Atlantic Coast Bank to process payments from Atlantic Coast’s ATMs and provide remittance processing services to Atlantic Coast’s business customers.

“We selected CheckAlt for their outstanding reputation and commitment to customer service excellence,” said John W. Faiella, Senior Vice President, Chief Lending Officer of Atlantic Coast Bank. “We are very pleased to enter into a partnership that will be mutually beneficial and provide the highest level of convenience and security to our business customers while assisting with the acceleration of their working capital cycle.”

CheckAlt will provide item processing for six of Atlantic Coast Bank’s ATMs. Also, CheckAlt will deliver the lockbox services driving Atlantic Coast’s new remittance processing solution for their business customers. CheckAlt operates three remittance processing locations in Florida and one in Georgia that will serve Atlantic Coast’s customers, and will be adding additional locations in 2015.

“Through our suite of payment services, we’re able to offer a host of solutions to our financial institution clients,” said Shai Stern, co-chairman and CEO of CheckAlt. “We support our clients’ growth by letting them pick and choose the products and services that meet their individual needs. We also continue to develop new products as the banking landscape changes, to anticipate and meet new needs as they arise.”

CheckAlt is committed to developing products and services based on Check 21, the 2003 federal law designed to speed commerce and end reliance on transportation of paper checks. Check 21 enables the most efficient, cost-effective payment technologies, such as Image Cash Letters (ICL) and eChecks. CheckAlt incorporates Check 21-based technologies into its ATM item processing, branch processing, eChecks, electronic payment applications, remote deposit capture (RDC), and more.

For more information about CheckAlt, please visit http://www.checkalt.com.

About Atlantic Coast Bank
Atlantic Coast Bank, founded in 1939 in Waycross, Georgia is a federally chartered community bank serving more than 20,000 account holders throughout Northeast Florida and Southeast Georgia. With eleven branch offices and its headquarters in Jacksonville, FL, customers have access to a network of more than 850,000 ATMs nationwide. With over $713 million in assets as of September 30, 2014, Atlantic Coast Bank is positioned to be the premier community bank of the region. Atlantic Coast Bank exceeds the banking needs of its customers, while providing a high level of customer service. Current service offerings include mortgages, consumer loans, commercial loans and SBA loans for personal and business banking customers. The Bank’s holding company Atlantic Coast Financial Corporation is publicly traded on the NASDAQ under ticker symbol ACFC. For more information visit http://www.atlanticcoastbank.net or follow us on Facebook at AtlanticCoastBank and on Twitter @AtlanticCoastBk

About CheckAlt
CheckAlt is a Check 21 application and processing provider. CheckAlt assists financial institutions in more efficiently processing their items from all capture points within the bank or credit union, and in attracting and retaining business customers with innovative white label payment solutions. Additionally, CheckAlt offers easy-to-integrate APIs for mobile and web developers that want to accept Check 21 payments. Products include eChecks, Item Processing, Remote Deposit Capture (RDC), Mobile, eCommerce, and Lockbox Services. Find out more about CheckAlt at http://www.checkalt.com.

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Josh Wendroff
CheckAlt
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