2008-10-23 15:26:03 -

www.bsgfinancial.com - BSG Financial Michele Rowan, 502-581-1511 x 224 Director of Marketing BSG Financial, LLC, a provider of profit-enhancing programs and marketing services to the financial industry, announced that the New York Bankers Service Corporation (NYBSCO), a wholly owned subsidiary of the New York Bankers Association (NYBA), has officially selected the company's Re$ubmitIt electronic check and

item recovery solution to help its member banks increase income and provide a valuable service to business customers.

BSG Financial made the endorsement announcement during a presentation by BSG Financial's executive vice president, Mike Wummer, entitled, "Improve Your Merchants' Collections While Increasing Your Bottom Line by Utilizing Electronic Re-Submission Technology."

According to NYBSCO officials, Re$ubmitIt is the type of product they seek to promote to NYBA member banks because of its ability to produce income and provide excellent service. With Re$ubmitIt, banks help their commercial account holders more successfully collect funds from NSF checks and other returned deposit items, while alleviating the burden of collections for the business. The completely outsourced program also generates income for member banks through a revenue share of the service fee collected from the check writer.

"In this competitive environment, where the creation of income and core deposits is a goal for all institutions, many banks are targeting commercial account customers," said Daniel Babb, vice president of member services for the New York Bankers Association. "Re$ubmitIt creates a market differentiator that helps banks win these deposit accounts and retain their current customer base. It adds tremendous value at no cost to commercial customers, while generating much-needed non-interest income for the bank."

With Re$ubmitIt, a bank automatically sends a returned deposit item to Re$ubmitIt instead of returning it to the business account holder for collection. Re$ubmitIt re-presents the returned item electronically - up to two additional times - to the check writer's account for recovery. On average, 70 to 75 percent of all items are collected in full.

Because of strategic timing of the electronic submissions and multiple attempts to collect, Re$ubmitIt can double the likelihood of recovering funds from the check writer over traditional collection methods, such as letters and phone calls. The program also offers free secondary collections for items that cannot be collected electronically, further enhancing the value of the service for business account holders.

Re$ubmitIt not only processes paper NSF checks, but also electronic ACH originations and check conversions, including: back office conversions (BOC), accounts receivable conversions (ARC) and Web-authorized payments (WEB). As such, revenue garnered from the program is expected to increase along with the use of electronic payments.

"The NYBA joins a growing list of state banking associations that recommend Re$ubmitIt to their member banks. Through their growing support, more and more banks are enjoying the rewards of this program, which solidifies banking relationships and grows revenue," said Barrett Nichols, founder and CEO of BSG Financial. "Now more than ever, banks must provide profitable solutions that serve customers well. Re$ubmitIt successfully does both."

About New York Bankers Association

The New York Bankers Association is comprised of the commercial banks and thrift institutions that engage in banking in New York State. Its members have aggregate assets in excess of $9 trillion and more than 340,000 New York employees. The organization provides member banks with advocacy services related to legislative and regulatory issues impacting the commercial banking and thrift industry in the Empire State; professional development opportunities for bankers; and income-producing and cost-saving products and services. For more information, visit www.nyba.com.

About BSG Financial, LLC

Louisville, Ky.-based BSG Financial develops and manages innovative, profit-enhancing programs for the financial industry. In addition to Re$ubmitIt(R), the company offers CourtesyConnect(R), the industry's first Web-based overdraft management system, ExpenseMark(TM), a sourcing and procurement service to reduce expenses and improve an institution's efficiency ratio; and a Sale/Leaseback program to help banks and credit unions generate capital from non-earning depreciated assets.

BSG Financial, recognized by Bank Technology News as an industry innovator, is privately owned and serves financial institutions nationwide whose assets range from $100 million to more than $35 billion. For more information about the company, visit www.bsgfinancial.com.

Company's Re$ubmitIt Program Increases Bad Check Collections for
Business Customers, Enhances Revenue for Banks