Source Technologies’ Miles Busby Named Entrepreneur of the Year

Charlotte, N.C., June 28, 2004-Miles Busby, president of Source Technologies, a leading provider of integrated solutions for managing financial transactions and other secure business processes, received the 2004 Carolinas’ Ernst & Young Entrepreneur of the Year Award for “Realizing Business Potential.”

The “Realizing Business Potential” award, created in conjunction with Microsoft’s sponsorship, was established this year to recognize companies with fewer than 100 employees that have demonstrated success and expansion as a direct result of employing computer technology in their business practices. Nominees were judged on overall company excellence, financial performance, innovation and personal commitment to one’s company and community.

Busby founded Source Technologies in 1986, producing magnetic ink character recognition (MICR) printing solutions and consumables for secure document applications in the financial services industry. However, Busby recently took Source Technologies in a new direction with the development of its teller-assisted self-service solution, concourse™.

“We breed an entrepreneurial spirit at Source Technologies, and that makes people passionate about their work,” said Miles Busby, president Source Technologies. “The company was already successful before launching concourse, and stepping outside of that core business meant taking a risk. Thankfully, the risks are paying off, but it would not have been possible without a passionate, dedicated team.”

concourse enables increased teller productivity and customer satisfaction in financial institutions by allowing customers to manage their own in-bank transactions. Tellers oversee transactions from a centralized monitoring station and step in to help customers with problems or provide a transaction receipt (similar to the self-check in model adopted by the airline industry). With customers setting up their own transactions, wait times decrease for processing account inquiries, cash/check or mixed deposits, check cashing, deposit slips, electronic transfers and payments.

The 27 finalists from North and South Carolina were honored at a black-tie event on June 17 at the Westin Charlotte. Busby was one of eight award recipients and, as a Carolinas’ award recipient, is now eligible for consideration in the 2004 National Ernst & Young Entrepreneur of the Year program. Winners of the national competition will be announced at the annual awards celebration held in Palm Springs in November.

About Source Technologies
Founded in 1986, Charlotte, N.C.-based Source Technologies provides integrated solutions for managing financial transactions and other secure business processes within the financial services industry and FORTUNE 1000 companies. Clients include nine of the Top 10 U.S. banks. In addition to concourse, Source Technologies offers magnetic ink character recognition (MICR) printing solutionsand consumables for on-demand document applications, and a family of disbursement software solutions that help organizations securely print, void or reissue MICR-encoded checks, disbursements, and other transaction-related items.