Endpointe Awards 10th Fed District To COCHA

Endpointe, The National Check Image Exchange, the country's first and only electronic check clearing network that capitalizes on existing imaging infrastructure and settlement relationships, today announced the signing of COCHA, the Central Oklahoma Clearing House Association. COCHA will now be able to electronically clear every eligible item in the 10th District. Any image-enabled COCHA clearing member will be able to participate in the Endpointe National Check Image Exchange. COCHA's members include the most prominent financial institutions in the Central Region of the United States.

The Endpointe National Check Image Exchange offers a real technology breakthrough not only for the financial institutions in the 10th District but for every service bureau, and clearinghouse across the country. Endpointe's mission is to help all U.S. financial institutions clear and settle their check-based transactions by exchanging electronic images between member institutions and check processing organizations. Endpointe is the first and only U.S. clearing network that capitalizes on existing check imaging infrastructure and settlement relationships, with the goal of connecting every endpoint in the nation. Endpointe is not dependent on a particular technology standard. It is open to all image-enabled check processing entities.

"Endpointe is going to be a great asset for all of the financial institutions in the 10th District. Check Image Exchange will significantly reduce check-handling costs for all of our Clearing Member institutions," said Sharon Lewis, Executive Director of COCHA.

"Many of the traditional fixed costs will disappear with Endpointe's check image exchange. This is truly a watershed moment for our industry. The Endpointe National Check Image Exchange has created a well-tailored solution that solves a specific problem - the problem of handling and clearing checks more efficiently and profitably," added Ms. Lewis.

"We are delighted to be working with COCHA. A considerable part of our development effort has been in defining the rules and standards for how check images will be shared and used. In an industry as regulated as Banking is, such factors are critical. As our first clearinghouse partner COCHA has been a tremendous help to us," said Mark Craig, General Manager of Endpointe.

"The Endpointe National Check Image Exchange was designed for financial institutions, and clearinghouses to participate in a secure national clearing network for sharing and exchanging check images with each other. We have invested a great deal of money and thousands of man-hours developing comprehensive rules for the truncation of checks at the bank of first deposit and subsequent exchange of check images. We are in negotiation with other clearing entities and will soon award the 11th and 12th Fed Districts. When these announcements are made, we will have extended our subscription availability to the Endpointe National Check Image Exchange to over 4,000 image-enabled financial institutions west of the Mississippi. This will enable institution-to-institution exchange and settlement of over 1 billion checks per month," continued Mr. Craig.

"We are very excited about the future of the Endpointe National Check Image Exchange," said Mr. Craig. "Once the word gets out that financial institutions will be able to slash millions of dollars from non-earning assets with a dramatically shorter collection cycle we will achieve phenomenal growth and participation," added Mr. Craig.

ABOUT THE Endpointe National Check Image Exchange

Endpointe is dedicated to helping all U.S. financial institutions clear their check-based transactions by exchanging images between member banks, thrifts, credit unions, service bureaus, clearinghouses, and the Federal Reserve. Endpointe is building the country's first and only electronic clearing network that capitalizes on existing imaging infrastructure and settlement relationships, with the goal of connecting every endpoint in the nation.

ABOUT COCHA

The Central Oklahoma Clearing House Association (COCHA) is a non-profit 501c(6) business and trade association originally organized in 1903 as the Oklahoma City Clearing House. The association's primary focus is to provide an efficient and cost-effective mechanism for the exchange of locally deposited items between member financial institutions. Program participation and support services assist member institutions at various levels from check clearing to loss avoidance to benefits compensation.

Endpointe National Exchange Headquarters 4344 Charter Avenue Oklahoma City, OK 73116