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Community Banking Systems Purchases License to Utilize DataTreasury's Patented Technology; Deal Greatly Enhances Company's Position in Document-Imaging Industry.


DALLAS Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S.  -- Community Banking Systems (CBS (Cell Broadcast Service) See cell broadcast. ), a leading check and document imaging software development company and a provider of image-based solutions for U.S. independent banks, announced today that it has purchased a license to utilize technology patented by DataTreasury Corporation. This technology is covered by U.S. Patent Nos. 5,910,988 and 6,032,137, which were issued to DataTreasury in 1999 and 2000 for image capture, centralized processing Processing performed in one computer or in a cluster of coupled computers in a single location. Centralized processing evolved from the computers in the 1960s, which were stand-alone with all input and output in the same room.  and electronic storage of document and check information, and it is the subject of a series of high-profile patent-infringement lawsuits DataTreasury has filed against a number of banks and financial-services companies.

"At CBS, our primary goal is to ensure our customer base is provided the most advanced products and services possible," said E.L. Shockey, chief executive officer of CBS. "Licensing DataTreasury's patents facilitates the present and future technological growth of our company, while protecting customers from concerns regarding these patents."

CBS was founded by Sean Pennock and Jeremy Cockrill, formerly with Advanced Financial Solutions and, later, Wausau Financial Systems. "In our past experience, we found that lower-tier financial institutions were being ignored by the industry, and that's why we founded CBS," said Mr. Cockrill, chief software officer of CBS. "Now we're changing the rules and leveling the playing field."

Keith DeLucia, chief executive officer of DataTreasury, said, "CBS is a pioneer in community banking technology and document image processing See document imaging.

Document Image Processing - (DIP) Storage, management and retrieval of images.
, and access to DataTreasury's technology will give this company an even greater edge over its competition. We're honored hon·or  
n.
1. High respect, as that shown for special merit; esteem: the honor shown to a Nobel laureate.

2.
a. Good name; reputation.

b.
 to add them to our growing list of licensees." Other licensees of DataTreasury's patented technology include banking giant JPMorgan Chase JPMorgan Chase (NYSE: JPM TYO: 8634 ) is one of the oldest financial services firms in the world. The company, headquartered in New York City, is one of the leaders in investment banking, financial services, asset and wealth management and private equity. With assets of $1.  & Co., check-processing software provider NetDeposit, Inc., and RDM Corporation RDM Corporation[2] is a Canadian software and hardware company focused on the payment processing industry headquartered in Waterloo, Ontario, Canada, which was founded in 1987. , one of the world's largest manufacturers of point-of-sale check-image repositories While acknowledging services such as [ROAR: [1]] and [OpenDOAR: [2]] it is perhaps necessary to provide a list of individual repositories described in more detail within wikipedia here. .

About Community Banking Systems (CBS)

Dallas-based CBS (www.combanksys.com) employs the most advanced back office imaging technology built solely and specifically for community banks. With a unique combination of technology and process improvement expertise, CBS helps banks improve their customer service and reduce costs by streamlining their imaging operations. Commitment to the independent bank is reflected in the quality of customer care, the industry experience of the CBS team, the design of Community Banking Systems software products and the implementation of CBS services.
COPYRIGHT 2005 Business Wire
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Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Comment:Community Banking Systems Purchases License to Utilize DataTreasury's Patented Technology; Deal Greatly Enhances Company's Position in Document-Imaging Industry.
Publication:Business Wire
Geographic Code:1USA
Date:Oct 20, 2005
Words:371
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