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THE FEDERAL RESERVE BANK OF BOSTON SIGNS AGREEMENT WITH BANCTEC TO DEVELOP IMAGE-BASED CHECK ARCHIVAL PROTOTYPE SYSTEM

 DALLAS, March 30 /PRNewswire/ -- BancTec, Inc. (NASDAQ: BTEC) today announced that its Advanced Development Group has signed an agreement with the Federal Reserve's check image processing development group which authorizes BancTec to develop a prototype system to explore the functional aspects of image archival which could be used to support image-based truncation environments.
 BancTec will provide a three-tiered archival system which will store images on a variety of media and automatically migrate images from one medium to another at pre-set times under system control. The development work will begin immediately and is scheduled to be completed in the second half of fiscal year 1994.
 BancTec's Chairman and Chief Executive Officer, Grahame N. Clark, states, "Image technology and storage media have only recently advanced to the point where this type of prototype system would be possible. BancTec was chosen to participate in this study because of an innovative and potentially very cost effective approach to hierarchical storage, our open systems architecture (OSA) platform and an innovative, on-line image quality monitoring system. We are pleased to be a part of a development program which could be eventually have a major impact on check processing throughout the United States."
 BancTec, Inc. is a leading worldwide provider of integrated financial transaction processing systems, application software and support services. BancTec develops turn-key document image processing and data capture solutions for the banking, financial services, insurance, government, utility, telecommunications and retail industries. The company also designs, manufactures and markets document processing equipment for OEM customers and provides third-party maintenance and support services for local area networks and personal computers.
 -0- 3/30/93
 /CONTACT: Gary Robinson, senior vice president and chief financial officer of BancTec, Inc., 214-450-7753/
 (BTEC)


CO: BancTec, Inc. ST: Texas IN: FIN SU:

TS -- NY024 -- 0897 03/30/93 09:18 EST
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Publication:PR Newswire
Date:Mar 30, 1993
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