Pacific & Western Bank launches banking pilot for insolvency professionals

LONDON, ON, April 3, 2012 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) is pleased to announce that its subsidiary Pacific & Western Bank of Canada has launched a pilot banking services program with one of Canada's largest insolvency and restructuring companies. The automated banking services will deliver a more efficient banking interface with smoother, automated banking transactions, substantial cost savings, as well as significant operational efficiencies. Pacific & Western Bank has been working in collaboration with major insolvency industry firms in developing its custom banking software over the past year.

Following a successful pilot of the software and banking services, it will be made available industry-wide.

David Taylor, President & C.E.O. of Pacific & Western stated, "I am very pleased to be working with key members of the insolvency industry to pilot our custom banking software solution, which will help them to more seamlessly and efficiently conduct their banking. With this initiative and our agreement with Royal Bank to provide cheque clearing and EFT services, Pacific & Western Bank is well positioned to become the 'bank of choice' for insolvency professionals across Canada."

Pacific & Western Bank of Canada is wholly owned by Pacific & Western Credit Corp., whose shares trade on the TSX under the symbol PWC.

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