Press Release
BANKSERV SIGNS UP AMARILLO NATIONAL BANK FOR GLOBAL FUNDS EXCHANGE (GFX)
August 09, 1999 - SAN FRANCISCO, CA — BankServ, a leading provider of software and online services to the banking, financial services and retail industries, has signed a new software licensing agreement with Amarillo National Bank, of Amarillo, Texas.
The bank signed a multi-year agreement for use of BankServ's Global Funds Exchange (GFX) wire transfer software. Monetary terms of the transactions were not disclosed.
GFX improves automation of a bank or financial institution's wire transfer operations. With GFX, users can originate domestic and foreign funds transfers and monitor related activity automatically, with minimal operator intervention. GFX also includes automated OFAC (Office of Foreign Asset Control) screening, is Y2K compliant and can be linked to a low-cost Internet cash management service hosted by BankServ.
Annually, America's banks and financial institutions transfer $328 trillion dollars through the Fedwire system. The average wire transfer is worth $3.3 million. BankServ in 1998 became the first non-bank, private company allowed to transfer money through Fedwire and is still the only non-bank with coast-to-coast Fedwire access. BankServ GFX users include Commercial Bank of San Francisco, Fiduciary Trust International, of New York, and Gulf Bank, of Miami.
About Amarillo National Bank
Amarillo National Bank is a $1.2 billion-asset institution founded in 1892 and has grown to include more than 500 employees. The bank provides a variety of services to commercial customers located throughout the Texas panhandle. It is one of the most technologically advanced banks for its size in the country, installing the first ATM in the state of Texas. It also won "Best Internet Banking Site" in November 1998 from Retail Delivery News, beating out Royal Bank of Canada for the top spot. Amarillo National Bank has been continuously family owned and operated since 1909. More information about the bank can be found at www.anb.com.