Source Technologies Takes MICR Printing Beyond The Bank

Charlotte, N.C. Jan 7, 2005 -Source Technologies, a leading provider of integrated solutions for managing financial transactions and other secure business processes, announced the availability of its ST9420 magnetic ink character recognition (MICR) laser printer for retail environments. Source Technologies will target the emerging retail, restaurant and securities markets with a low-cost desktop MICR printer that allows users to centrally manage the remote printing of checks.

“The ST9420 allows users to effectively put the checkbook in the local office and still maintain centralized control. This low-cost solution will radically change this business process for its users,” said Miles Busby, founder and president, Source Technologies.

“Banks have long enjoyed the efficiency, security and convenience of on-demand MICR Printing. Now we are bringing those benefits to the retail environment in an affordable, desktop format. With secure MICR Printing, restaurant managers will be able to print payroll checks on-site and cut vendor checks on-demand. Securities firms will be able to centrally manage the on-site printing of checks for customers in satellite offices.”  

The ST9420 prints 32 pages per minute and features the same check fraud protection found in Source Technologies’ banking industry solutions including password protection, drawer and front panel locks, toner detection and security fonts. The printer comes in two formats: The ST9420 is a parallel, locally attached printer and the ST9420N is network capable and allows for centralized management of remote MICR Printing.

About Source Technologies
Founded in 1986, Charlotte, N.C.-based Source Technologies is a leading provider of integrated solutions for managing financial transactions and other secure business processes. In addition to the concourse™ family of self-service kiosks, Source Technologies offers secure disbursement software solutions and magnetic ink character recognition (MICR) printing solutions and consumables for secure document applications. Customers include nine of the top ten U.S. Banks, plus hundreds of Fortune 1000 and mid-sized companies. Source Technologies has created more than $400 million in economic value for its customers in the last ten years. For more information, visit www.sourcetech.com.