SAINT PAUL, MN – Design Center Inc., Saint Paul, Minn., today, announced the launch of its peer-to-peer payment app, ExcheQ. North American Banking Company (NABC), a Twin Cities-area community bank, developed the app. ExcheQ LLC., is jointly owned by Design Center Inc., NABC and United Bankers’ Bank (UBB), Bloomington, Minn.
“ExcheQ uses same‐day ACH payment‐processing, enabling community bank customers to quickly and securely send money to family, friends and coworkers,” says Michael Bilski, North American Banking Company’s CEO and chair of the U.S. Faster Payments Council, whose mission is to facilitate a world class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability.
“We’re excited to introduce a P2P solution that is designed, developed and priced especially for community banks,” said John Peterson, UBB’s interim president and Chief Marketing Officer. “We feel the ExcheQ app is a safe, simple and cost effective solution that will assist community banks in expanding their payment offerings, strengthening their customer retention and acquisition strategies, leveling the playing field with credit unions and larger institutions to ultimately remain competitive in the markets they serve.”
Banks that offer the app receive access to professionally designed and customizable marketing materials along with live, personal, technical support. UBB is currently enrolling banks on the ExcheQ platform, and the amount of time needed to setup a bank is just one to two hours.
Design Center is working with ExcheQ to incorporate the app into digital solutions they build for clients. Ken Haus,
President of Design Center and Vice President of ExcheQ, said “Not many design and development studios are offering financial tools like this. As with all of our digital solutions, ExcheQ is innovative, practical, highly responsive, and users love it.”