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Source Technologies Grows Customer Base by 11 Percent YTD

CHARLOTTE, N.C. – Dec. 9, 2014 – Source Technologies, a leading provider of integrated solutions for managing financial transactions and other secure business processes, announced continued market adoption of its magnetic ink character recognition (MICR) printing and transactional kiosk solutions, signing more than 100 new customers in 2014 as more financial institutions transform their branches to be more efficient and effective sales and customer service channels.

Moving into 2015, Source Technologies remains committed to developing next-generation technology solutions that enable financial institutions to drive innovation at the branch or retail locations. The company’s latest self-service kiosk solution, the Personal Teller Machine, resides within the branch and is unique in that it communicates directly with the teller platform (rather than the ATM platform) to provide more intelligent interactions with customers. Additionally, Source Technologies introduced its latest Self-Service BillPay solution earlier this year – a complete, automated solution engineered specifically for retailers that want to offer their customers quick and simple self-service bill payment capabilities in-store.

By integrating Source Technologies’ kiosks at the branch or storefront, financial institutions provide customers with a unique and innovative experience for bill payment, personal remittance, credit applications and self-service banking, improving branch channel efficiency and effectiveness through a user-friendly design.

“Digital engagement is where things are headed, but in-person selling is where things are,” said Bob Meara, a senior analyst with Celent’s Banking practice. “A bank’s slowness to redesign branch operating models is placing both top line sales and efficiency ratios at risk.”

“The industry is rife with talk of ‘The Branch of the Future,’ but the reality is, it is happening right now,” said Keith Hamilton, CEO of Source Technologies. “Financial institutions must embrace modern technologies today that automate transactions historically handled by tellers, enabling these tellers to fulfill more consultative roles. Next generation, self-service banking kiosks are the key to making the branch channel more efficient, while empowering customers to decide how they want to bank.”

Other new products introduced in 2014 include Source Technologies’ ST9717 secure MICR printer and RiskPartner® and RiskPartner® Enterprise, the company’s fully automated, hyper-targeted negative news search engines designed specifically for financial institutions’ compliance professionals who are responsible for enhanced due diligence and “know your customer” initiatives.

This year, Source Technologies also formed strategic partnerships with several industry-leading companies, including Lexmark’s Perceptive Software to launch Perceptive Secure Print – an integrated software and MICR printer solution that delivers secure printing for documents on an as-needed basis. Additionally, Digitek Computer Services is now a reseller of Source Technologies’ line of ST9700 secure MICR printers and printing supplies.

About Source Technologies

Founded in 1986, Charlotte, NC-based Source Technologies is redefining the branch channel by helping banks transform their branches with automation, innovative technology and superior engineering. The company’s print solutions empower businesses to automate the secure printing of sensitive information and negotiable documents, and its ground-breaking transactional and interactive kiosks for self-service and retail applications enhance the self-service experience. Customers include six of the Top 10 US banks, 69 of the Fortune 100, and thousands of small and mid-sized companies. For more information, feel free to visit www.sourcetech.com or connect with them on FacebookTwitter and LinkedIn

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