LONDON, June 17 /PRNewswire/ -- BancTec, a global provider of advanced,
high volume document and payment processing solutions and services,
announced today that it has been selected by EDS to provide it with an
outsourced check clearing platform in the United Kingdom. BancTec will
provide the clearing solution in partnership with EDS over the next 10
years, jointly providing a service for one of the world's largest financial
services firms.
"Our check processing platform is a time-tested solution capable of
handling extreme production volumes," said Steve Downey, General Manager,
BancTec Limited. "As this platform is implemented over the next two years,
we will be able to enhance operations and reduce costs for this customer,
allowing them to concentrate on outward-focused activities, not backroom
processes. We look forward to partnering with EDS to make this a successful
project for one of the world's premier financial service providers."
BancTec has enjoyed a leading position in the remittance processing and
check clearing industry. The company's experience has enabled its solution
to become one of the premier options for financial institutions seeking
payment-processing facilities.
BancTec's solution improves payment processing by eliminating manual
sorting. Validation operations are performed using document images. Not
only does this lead to accelerated processing, it enables customer service
inquiries to be handled rapidly online providing increased customer
satisfaction at a lower cost.
About BancTec
BancTec helps clients around the world simplify the process of managing
their information. Founded in 1972, the company provides a wide range of
solutions for automating complex, high-volume and data-intensive business
processes for clients in the financial services, healthcare, manufacturing,
government, services and utilities industries. BancTec's offerings include
business solutions, business process outsourcing, and infrastructure
services. With headquarters in Dallas, BancTec serves clients in 50
countries.
Forward-Looking Statements
All statements in this press release that do not directly and
exclusively relate to historical facts are "forward-looking statements"
describing BancTec's objectives, targets, plans, strategies, costs,
anticipated capital expenditures and expected cost savings. These
statements represent BancTec's intentions, plans, expectations and beliefs,
and are subject to risks, uncertainties and other factors, many of which
are outside the Company's control. These factors could cause actual results
to differ materially from such forward-looking statements. For a written
description of these factors, see the section titled "Risk Factors" in the
Company's Registration Statement on Form S-1, as amended, initially filed
with the Securities and Exchange Commission on August 8, 2007. The Company
disclaims any intention or obligation to update these forward-looking
statements whether as a result of subsequent events or otherwise except as
required by law.
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