|By Marketwired .||
|March 13, 2014 07:32 PM EDT||
SAN JOSE, CA -- (Marketwired) -- 03/13/14 -- Focus Business Bank (OTCQB: FCSB) has entered into a marketing agreement with Strongroom Solutions to put a state of the art Payables Lockbox service in the hands of property management companies to support electronic accounts payable processing services for their homeowner associations (HOA's). This announcement was made by Teresa Powell, executive vice president of Focus Business Bank.
"Our marketing partnership with Strongroom Solutions enhances our suite of cash management services specifically designed to assist property management companies," stated Powell. "A medium to large property management company may receive upwards of 5,000 vendor invoices a month for their homeowner associations. Our commitment is to provide a solution which streamlines vendor payments, provides better management controls, and eliminates the paper and labor intensive burden of the past. We believe we have the business partner to make this happen in Strongroom Solutions," concluded Powell.
"Strongroom is excited to be working with Focus Business Bank to deliver innovative payables solutions that make HOA managers more profitable," noted Tyler Gill, chief executive officer of Strongroom Solutions. "Our history is based on our early success and understanding of the HOA industry, a vertical market that covers 325,000 communities and over 63 million Americans."
About Focus Business Bank
Focus Business Bank is dedicated to meeting the banking needs of closely-held businesses and professionals in Santa Clara County. The Bank's office is located at 10 Almaden Boulevard in downtown San Jose, California and offers a variety of commercial banking products including loans, deposits, remote deposit capture and other cash management services oriented toward closely-held businesses and their owners. The Bank specializes in commercial loans and is an SBA Preferred Lender. The Bank also serves not-for-profit businesses and condominium homeowner associations by offering expertise, market knowledge and specialized products and services to these clients.
About Strongroom Solutions
Founded in 2007, Strongroom Solutions is a private company based in Houston, TX providing accounts payable (AP) software solutions to small, midsize, and large enterprise businesses. Strongroom's products are delivered exclusively through financial institutions as banks increasingly offer AP products as part of a comprehensive treasury offering.
Richard L. Conniff
President and Chief Executive Officer