Strong Market Adoption for Branch Technology in 2016 Drives Growth for Source Technologies

CHARLOTTE, NC – Jan. 24, 2017 – Source Technologies, a leading provider of integrated solutions for managing financial transactions and other secure business processes, announced continued market adoption of its transactional self-service kiosks and magnetic ink character recognition (MICR) printing solutions. Source Technologies signed 160 new customers in 2016 and is seeing a 16 percent increase in revenue year-over-year as more financial institutions transform branches into more efficient and effective sales and customer service channels.

Source Technologies continues to fulfil its commitment of enabling financial institutions to drive technological innovation at the branch through its next-generation retail banking self-service solutions. Just recently, the company announced the release of the 8-Series Countertop Kiosk, designed to handle a wide array of organizational needs while featuring the same projective capacitance touchscreen technology pioneered by Apple®. Additionally, Source Technologies announced enhancements to its Personal Teller Machine, a self-service kiosk, which now includes mobile pre-staging for self-service transactions, and proximity sensors to detect the presence of a customer.

2016 marked Source Technologies’ 30th anniversary. During the year, the company welcomed the addition of key executives Eric Eicke, Director of Software Innovations, who rejoined the company in February and Summer Cline, Vice President of Finance, who joined in June. Additionally, the company’s Series 6 and Series 8 Personal Teller Machines were included in Celent’s “Assisted Self-Service Devices for the New Branch: Balancing Efficiency and Engagement” — for their unique smaller footprint design, enabling financial institutions to more easily integrate self-service solutions within existing branch layouts.

“Our industry has been talking about ‘The Branch of the Future’ for many years now, but 2016 marked a definitive shift in how financial institutions are thinking about their branch networks,” said Keith Hamilton, CEO of Source Technologies. “As branches become more strategically important with regards to generating revenue, innovative technology like our self-service kiosks will enable tellers and other branch staff to fulfill more consultative roles, creating operational efficiencies and an improved customer experience.”

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 6 of the Top 10 US banks, 69 of the Fortune 100, and thousands of small and mid-sized companies.  For more information, visit www.sourcetech.com, or follow them on FacebookTwitter and LinkedIn.