Applied Business Software (ABS) announces support for the Canadian Payments Association AFT File Standard
FOR IMMEDIATE RELEASE
LOS ANGELES, Calif., September 9, 2011 – Applied Business Software Inc. (ABS), developer of The Mortgage Office™, the leading loan servicing software solution for the lending industry, is excited to announce its support of the Canadian Payments Association (CPA) AFT File format.
For years, The Mortgage Office’s ACH Express module has supported the National Automated Clearing House Association’s (NACHA) format. NACHA is the standard used by institutions throughout the United States, including the Federal Reserve, to electronically transfer funds. ABS set out to offer the same for its Canadian customers.
“In our continuing effort to provide the most cost-effective, feature-rich software to the Canadian market, we are proud to announce the support of the CPA Standard 005 format”, said Carlos Nodarse, ABS’ Director of Software Development. “Our software is used by some of the largest lenders in Canada. This is new functionality reduces their costs while increasing their productivity.”
The Canadian Payments Association (CPA) is a not-for-profit organization that plays a leadership role in providing safe and efficient clearing and settlement systems to enable member financial institutions to meet the payment needs of Canadians. On average, some 23 million payment items, representing approximately $173 billion in transactions, were cleared and settled through the CPA’s systems each business day during 2009.
About Applied Business Software
Applied Business Software, founded in 1978 and creator of The Mortgage Office™, is a market leader and global provider of software systems and solutions to the lending industry. The Mortgage Office™ is a complete suite of software products designed from the ground up to specifically address the needs of those who originate and service loans. The Mortgage Office™ has consistently rated superior in design, system interface, expandability, and ease of use. This Windows application collaborates fully with the Microsoft Office suite of products and is designed to make loan servicing more profitable and your overall business run more efficiently. ABS is based in Long Beach, California. For additional information about ABS’s products and services, visit www.themortgageoffice.com or call (800) 833-3343.
Applied Business Software, Inc.
Carlos Nodarse, Director of Software Development