Source Technologies' ST9445 MICR Printer Secures Substitute Checks, Protects Banks Against Check 21 Fraud

Business Wire, Nov 16, 2004

LAS VEGAS -- Latest Addition to Family of IRD-ready Printers and Check21 Software Solutions

Source Technologies, a leading provider of integrated solutions for managing financial transactions and other secure business processes, announced the availability of its ST9445 magnetic ink character recognition (MICR) laser printer for secure image replacement document (IRD) printing at the Bank Administration Institute's Annual Retail Delivery Conference. The ST9445 features a wide paper format and print speeds up to 45 pages per minute or 4,050 IRDs per hour.

The ST9445 printer offers a dependable IRD solution for mid-volume production environments along with ease of use for on-demand IRD printing. It is ideal for financial institutions that need a flexible platform to support an evolving Check 21 strategy. Additionally, the ST9445 printer is compatible with Source Technologies' IRD Print Manager software application, providing management of complex IRD workflow processes and secure control over distributed IRD printing.

"The substitute check is an entirely new type of negotiable document, creating both challenges and opportunities for banks," said Miles Busby, founder and president, Source Technologies. "Banks now have the capability to successfully create secured check image files, but managing and printing that file along its path to becoming a substitute check poses a credible threat for internal and external fraud if left unsecured."

Hundreds of financial institutions, including nine of the top 10 U.S. banks, use Source Technologies' software and printers for check and IRD printing.

"Secure MICR printing has been our core business for nearly 20 years, and developing both hardware and software solutions for substitute checks is a natural extension of that expertise," Busby added.

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 its family of magnetic ink character recognition (MICR) printers and consumables, Source Technologies offers secure disbursement software and the CONCOURSE(TM) family of branch automation and self-service solutions. Customers include nine of the top 10 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.source-us.com.