ACOM Solutions Financial Documents Division Introduces No-Investment, Pay-As-You-Go In-House Checks Program for Banks, Credit Unions.

Business Editors

ATLANTA--(BUSINESS WIRE)--May 19, 2004

The Financial Documents Division of ACOM Solutions, Inc. has advanced its position as the leading innovator in in-house check solutions with the introduction of a program that equips banks and credit unions with high-performance in-house check production systems with no capital outlay required of the financial institution, it was announced today by Division General Manager Mark Firmin.

"These institutions are being squeezed by competition and by a long period of low lending margins, and new sources of non-interest revenue can help to stop the bleeding," Firmin said. "Check sales are one such source because at the average bank, some 40 percent of personal checking accounts and 75 percent of business accounts currently obtain their checks through discount offers in newspaper ads or on the Internet. This program allows them to start recapturing that business immediately without going into their capital budgets."

Customers and credit union members not only reject the high costs and long delivery times of third party check vendors in large numbers, but they blame the banks, which can do nothing about it, Firmin said. Meanwhile, the Federal Reserve System and the clearing houses discourage the use of the "discount" checks because of high rejection rates - always a significant cost factor for financial institutions.

The issue could be further complicated by implementation of the Check Truncation Act of 2003, since low quality checks may be inadequate for the image processing and electronic delivery of the duplicates (IRDs).

With ACOM solutions in place, institutions are positioned to compete with discounters on price and quality, and still double or triple the amount they make on orders placed with the third party vendors. Instead of investing capital dollars in an in-house check solution, the institution simply remits a percentage of each order to ACOM after debiting their customer's account for the charges.

The turnkey ACOM solution is comprised of in-house check production software and computer, printer and finishing hardware, and an inventory of check printing consumables that the company monitors and replenishes as necessary. The package also includes two days of installation and training and a portfolio of marketing support materials. After installation, ACOM makes periodic on-site preventive maintenance calls to assure uninterrupted service.

All the financial institution has to do is provide a place for the equipment and someone to run it, Firmin said. Input of customer information is unchanged. Staffing can be accomplished using existing personnel or with inexpensive part-time help.

"Because the institutions can control both costs and delivery schedules, in-house check solutions provide an opportunity to recapture lost customer loyalty and take a stronger competitive posture while adding significantly to their bottom line."

About ACOM Solutions

ACOM Solutions Financial Documents Division is the premier developer and marketer of check and financial document production solutions that enable financial institutions to streamline their front office and back office check and financial document production activities, and to create and fulfill customer check orders and reorders in-house, versus outsourcing to commercial check vendors. ACOM Solutions, Inc. is a multidivisional, international developer and marketer of conventional and e-business solutions that integrate with enterprise applications to enhance back office and B2B processes for electronic, Internet and paper-based commerce. For more information, contact ACOM Solutions Financial Documents Division at 3305 Breckinridge Blvd, Suite 130, Duluth, GA 30096; telephone [phone]; email [e-mail]; Web: www.inhousechecks.com.