PADUCAH, Ky., April 11, 2011 /PRNewswire/ -- Computer Services, Inc. (CSI) (OTCQX: CSVI) announced today the formation of its Document Services division. This new division offers a cohesive, end-to-end solution for every aspect of the check capture, archival and statement print process.
"Our newly formed Document Services Division combines the resources of three separate operating units of CSI – Myriad Systems, Inc., Summit Financial Solutions, Inc., and our CSI Data Services data center operations – into a single group focused on providing a best of class product line devoted to electronic and paper document production," explained Steve Powless, Chief Executive Officer. "The new division was formed as part of our Strategic Growth Initiative that is focused on leveraging enterprise-wide opportunities to cross-sell products, integrate the technologies we have developed and acquired, and seek potential opportunities to grow CSI through selective acquisitions."
Myriad Systems, Inc., acquired by CSI in 2009, offers a complete line of check capture, statement print, electronic statement production, and specialized printing for a wide variety of financial and other institutions.
Summit Financial Solutions, Inc., acquired by CSI in 2007, offers check imaging software used by over 400 financial institutions across the country.
CSI Data Services processes over 20 million checks and one million plus statements per month for 350 financial institutions served through its network of data centers and branch/merchant capture installations.
According to Powless, "This reorganization will allow us to create a broader product line with more capabilities than our individual business units provided in the past. We believe the integration of all aspects of the check capture, archival and statement print process will enhance service offerings to existing customers while expanding our opportunities to increase sales to more companies in the financial services industry."
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, regulatory compliance and document delivery solutions to financial institutions and corporate entities across the nation. Technology planning, personal account management and world-class customer service explain why CSI is known as one of the nation's premier providers of technology solutions for the financial services industry. CSI's stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.
This news release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. All statements except historical statements contained herein constitute "forward-looking statements." Forward-looking statements are inherently uncertain and are based only on current expectations and assumptions that are subject to future developments that may cause results to differ materially. Readers should carefully consider: (i) economic, competitive, technological and governmental factors affecting CSI's operations, customers, markets, services, products and prices; and (ii) other factors discussed in CSI's Information and Disclosure Statements and other documents posted from time to time on the OTCQX website, including without limitation, the description of the nature of CSI's business and its management discussion and analysis of financial condition and results of operations for reported periods. CSI undertakes no obligation to update, and is not responsible for updating, the information contained in this release beyond the publication date, whether as a result of new information or future events, or to conform the statement to actual results or changes in CSI's expectations, or otherwise or for changes made to this document by wire services or Internet services.