Chexar^sm is a technology, processing, and network company that provides financial institutions and retailers with a centralized turn key risk management system enabling them to safely and profitably offer professional check cashing services at their retail locations. With every new transaction, Chexar is also building a distributed “Check Cashing Network” that will soon allow the holders of Chexar Memberships to cash any type of check, at any Chexar client location.

Chexar clients are non-traditional lenders, such as finance companies, title pawn companies, pay day loan companies, or traditional mainstream banks. These clients all share the desire to offer CHECK CASHING services to their customers, but do not see check cashing as a core competency in their organizations. Our clients have also done enough research to realize that check cashing is not as simple as cashing payroll and government checks. They understand that to truly be competitive with this offering, they need the ability to say YES to almost every kind of check their customers bring in to their stores to cash.

The Chexar SMART SCORE^sm system combines a learning database with a LIVE RISK MANAGEMENT CENTER to successfully underwrite and authorize all types of check for its clients. Since its launch in 2001, Chexar’s system has maintained an industry leading approval rate of over 96% on all types of checks, with loss rates below the industry average. Similar claims may be made by industry look-a-likes, but only Chexar’s SMART SCORE^sm system has maintained this kind of performance while cashing over $650 million in checks of ALL TYPES (denominated in US Dollars). For example, other systems stop short of hand written payroll, two party checks, money orders, and checks greater than $10,000.

Chexar enables its clients to handle ALL CHECKS safely and profitably on a fully outsourced basis.

Chexar^sm and the SMART SCORE^sm system was born as the core operating platform for the nation’s leading Hispanic Banking initiative, El Banco de Nuestra Comunidad. El Banco combined traditional retail banking, including FDIC insured deposit products and innovative credit products, with non-traditional services such as check cashing for non-depositors. El Banco and its technology platform (now Chexar) have been featured in TIME® Magazine, The Economist®, the Wall Street Journal®, the American Banker®, and many other publications during the past 7 years.

On October 31, 2007, Chexar sold the 12 branch banking operation of El Banco to The Peoples Bank of Winder, Georgia, enabling us to focus all of our efforts on our technology and processing business. El Banco continues to utilize the Chexar SMART SCORE^sm system as its main operating platform.