Versabanq provides no cost AmSchedule software ideal for banks & credit unions to accommodate virtually any borrower's request for a custom amortization schedule
LONDON, ON, Oct. 18 /CNW/ - David Taylor, President & C.E.O. of Pacific & Western Credit Corp., (TSX: PWC) is pleased to announce that Pacific & Western Credit Corp's wholly owned subsidiary, Versabanq Innovations Inc., has made its new product, AmSchedule Express, available as a free download on its Versabanq website. Interested financial institutions can download this product at www.versabanq.com/products/. Versabanq's main product line is a comprehensive end-to-end Asset and Deposit Management System (AMS and DMS) for small and medium financial institutions. AmSchedule Express is a simple component of this system that has been designed to easily plug into a bank's or credit union's lending operations, allowing them to accommodate virtually any borrowers request for a custom amortization schedule. Mr. Taylor, Versabanq's Chairman and CEO, stated that, "we are providing this tool to give our target customers a feel for the tremendous versatility and ease of use of our banking software. Many small financial institutions struggle to accommodate their customers' request for custom amortization schedules by using spreadsheets, which can be time consuming and prone to error. AMS and DMS truly is software you can bank on." Mr. Mark Sibthorpe, Publisher of BankNews TV Publishing Corp., an external 3rd party that conducted a bench-marking exercise of AMS and DMS, stated that Versabanq's banking software represented one of the most interesting sets of products reviewed. "The software provides incredible flexibility and speed, featuring excellent portfolio management and extensive reporting and analysis tools" along with "many pluses that other products could learn from". David Taylor added that while the Canadian market of hundreds of small to mid-sized banks and credit unions are an obvious target market, he expected Versabanq's state of the art software to be particularly appealing to the U.S. market. This is due to the fact that it is fully Basel II compliant and U.S. financial institutions will soon need Basel II compliant software. More than 50% of the huge U.S. financial institution industries are squarely in Versabanq's target market. The licensing of Versabanq's Software has the potential to provide a very significant new revenue stream for Pacific & Western Credit Corp. To receive company news releases via e-mail: Karen McConnell, (519) 675-4204, email@example.com. Further information on PWC is available through Pacific & Western's corporate web site at http://www.pwbank.com and http://www.pwcorp.com.
For further information: For further information on VersaBanq: Neil Beaton, (519) 488-1257, firstname.lastname@example.org or Steve Estabrooks, (519) 488-1261, email@example.com; For further information on PWC: Bruce Schruder, Investor Relations, 1-800-244-1509, InvestorRelations@pwbank.com; Tel Matrundola, Vice President, Public & Government Relations, (416) 203-0882, firstname.lastname@example.orgBack