Source Technologies Opens Atlanta Software Development Office

CHARLOTTE, June 21, 2004 -Source Technologies, a leading provider of integrated solutions for managing financial transactions and other secure business processes, announced expansion plans with the opening of a software development office in Atlanta. The Atlanta team, lead by Snehal Vashi, vice president of software development, will drive new product initiatives and test special projects.

“The Atlanta expansion supports Source Technologies’ overall goal of raising the bar in terms of innovation in software development and that means stepping out of our comfort zone,” Vashi said. “Atlanta offers a mature software market and more opportunities to recruit top talent, pushing the envelope for ourselves as well as the entire industry.”

Atlanta resident since 1989, Vashi’s relationships run deep in the technology community, and will help Source Technologies reach its growth and software development objectives. Vashi recently served as an advisor to the Atlanta Technology Development Center (ATDC) in its Entrepreneur-in-Residence program through the Georgia Institute of Technology and holds leadership roles in the Technology Association of Georgia (TAG) and The Indus Entrepreneurs organizations. Vashi’s own entrepreneur experience includes founding two Atlanta-based technology companies, Simtrex Corp., a software simulation provider for the CRM market, and Zebrasoft, Inc., a software provider to the shrink-wrap retail software market.  

“The successful launch of our self-service solution, concourse™, and our Check 21 IRD product set the tone for 2004 as the year of growth and big ideas,” said Miles Busby, president, Source Technologies. “I have great confidence that the Atlanta development team will continue the momentum.”

Source Technologies expects to move into new office space in Atlanta during the third quarter.

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. Source Technologies offers magnetic ink character recognition (MICR) printing solutions and consumables for on-demand document applications, a family of disbursement software solutions that help organizations securely print, void, or reissue MICR-encoded checks, disbursements, and other transaction-related items, and the ground-breaking concourse family of assisted self-service kiosks enabling financial institutions, retailers, and governments to automate in-person business transactions.