Nationwide networks have several thousand endpoints but, few are significant endpoints for individual community financial institutions. Governed by ECCHO Rules for the protection of OnWe Network Members, the OnWe Network is built to leverage the regional clearing patterns of community financial institutions served by a common correspondent, a strategy that results in a higher percentage of items clearing within each regional OnWe Network. Bankers’ banks, regional correspondents and corporate credit unions serve as the processing, investment and settlement backbone of the community market, and the OnWe Network leverages the value of these existing relationships by collectively expanding the reach, aggregating clearing volumes and providing state-of-the-art technology to community financial institutions through their correspondents.

Many community institutions incur additional clearing fees in sending items to other local endpoints via traditional clearing methods. Lacking the cooperative infrastructure necessary to automatically exchange items directly with local competitors. Community financial institutions often find that most expensive endpoints to reach are literally down the block. Regional OnWe Networks provide opportunities to efficiently build regional direct clearing arrangements with significant endpoints.

For remote endpoints outside of the OnWe Network Community, the Community Host serves as the aggregator to clear items with other regional and national exchanges leveraging the collective volume of all members to minimize clearing costs.

Nationwide image exchange services have additional overhead associated with the requirement to support all possible endpoints, and item processor-based networks have gaps in regional coverage and often require banks to change service providers to participate. OnWe Network communities are processor independent and regionally centered, providing a cost efficient solution with a higher penetration on the significant clearing endpoints that matter most.

Leveraging the same VECTOR image exchange technology utilized by the nation’s largest banks across a larger number of member institutions drives down the individual cost to each Host and community financial institution to participate in an OnWe Network Community. With centralized infrastructure, operations and support provided by LendingTools.com, the technical knowledge, redundancy and security requirements are handled by a trusted partner, allowing Community Host institutions to focus on deepening relationships, maximizing clearing relationships and assisting all members in becoming fully image-enabled without a significant investment in in-house technology. This efficiency is passed on to the community institution in the lowest per item fees for image exchange in the market today.