The OnWe Network image exchange network began production in October, 2006. This network is unique within the check processing industry in that it is the only image exchange network designed and built specifically for correspondent community financial institutions and centered on regional clearing patterns. The Network equips correspondent processors known as Community Hosts to perform clearing and settlement for their community financial institution customers. Community Hosts may also exchange with other regional networks, other Community Hosts and with the national exchange services connected to the OnWe system.

The first exchanges took place between two community financial institutions. Since then additional institutions have been added to the exchange process on a weekly basis. The number and total value of items being exchanged is now growing rapidly as additional members begin to use the network. Current Community Hosts in the network represent relationships with over 1200 community financial institutions.

A primary criterion for successful development of a regional OnWe Network is the level existing relationships between the Community Host and financial institutions within their market area. The broader the penetration within the Network geography, the greater the percentage of items that will clear between the Network members at significantly lower cost. Items clearing outside of the Network are routed through selected additional exchange networks that can be modified as new participants are added. The result is a greater reduction in total clearing fees than other exchanges can currently offer.

The OnWe Network, which encompasses all OnWe Network Communities, operates under ECCHO Rules and LendingTools.com, the creator of the OnWe Network, is a Sponsoring Organization of ECCHO.

LendingTools.com is a leading provider of electronic services to the correspondent banking market. The correspondent market allows the aggregation of financial transactions from many community institutions into large central volumes which can be delivered at lower prices. LendingTools.com is a pure application service provider (ASP), delivering all of its services via secure Internet. The company’s services currently reach 20% of all banks in the United States. Its customers’ transaction volumes make LendingTools.com one of the 20 largest ACH originators in the U.S. Its electronic check services serve as the primary delivery mechanism for Check 21 products in multiple regional and national relationships. The company pioneered the concept of community “OnWe” exchanges to create competitive regionalized check image exchanges through collaboration among community financial institutions.
 
The LendingTools.com web site is - www.LendingTools.com