Press Releases

VICOR Tops Competitors in Ranking of Financial Technology Suppliers

Contact: Mike Dignen
VICOR, Inc.
610-524-5950 or mdignen@vicor.com

RICHMOND, CA, November 3, 2004 – VICOR, Inc., a leading provider of image-based lockbox processing and receivables management solutions, has been ranked among the top 100 global technology and service providers to the financial services industry in the first annual American Banker/Financial Insights FinTech 100 Special Report. VICOR is the only company specializing in remittance solutions to be ranked in the FinTech 100.

“We are pleased to be recognized by American Banker and a widely respected analyst group like Financial Insights, an IDC company, whose vendor ranking is indicative of the strong industry validation VICOR has received for our comprehensive suite of lockbox processing and receivables management solutions,” stated Bob Kirk, president of VICOR. “To VICOR, it’s all about enabling the next generation of lockbox processing – helping our customers highly align receivables management with business processes to cut costs, enhance client relationships, increase fee income, and position themselves for growth.”

VICOR continues to build on the market-leading lockbox processing and receivables management capabilities of its flagship RIDS (Receivables Information Delivery System) platform. By expanding on traditional lockbox processing functionality to include full-page imaging, exceptions resolution and processing tools, and the ability to provide clients with intra-day delivery of receivables data and images of checks and documents, VICOR offers clients the ability to take full control of their receivables handling. New features, such as remote keying and capture, will broaden RIDS’ appeal in the Check 21 environment.

VICOR will demonstrate RIDS in its expo hall booth (No. 518) at the Association for Financial Professionals (AFP) 25th Annual Conference, November 7-10, in San Diego.

“VICOR’s focus and continued investment in RIDS have effectively moved this robust platform to the forefront of the financial services industry,” said Mike Dignen, senior vice president, national account management, at VICOR. “RIDS is the only lockbox processing system that offers the end-to-end performance and scalability needed to handle the wide range of demanding receivables functions required in today’s increasingly competitive global business environment. The results of the FinTech 100 further validate the strength of VICOR and clearly reflect VICOR’s ongoing commitment and investment in RIDS.”

The FinTech 100 special report evaluated vertical technology companies that derive more than one-third of their total annual revenues from sales to financial services industry clients. Financial Insights then analyzed and verified these companies’ data, in many cases developing estimates on a range of industry sources, to create a ranked list based in order of their total 2003 financial services industry revenues.

In addition to revenue data, other information was gathered for the FinTech 100, such as: application/service provided; vendor/product reputation; adherence to industry standards; number of banking clients; and number and value of acquisitions in financial services.

The rankings are contained in a special report, published as a supplement to the November 2nd issue of the daily American Banker. The special report also will be distributed at the Bank Administration Institute’s 2004 Retail Delivery Conference in Las Vegas and the 6th Annual Mortgage EC Conference in Las Vegas.

About VICOR, Inc.

VICOR is a leading provider of image-enabled receivables processing and management solutions. The company’s flagship product, RIDS (Receivables Information Delivery System), is the first payment processing and cash management platform to offer full color images and intra-day delivery of receivables information via the Internet and other publishing options. Currently installed in 22 sites, RIDS processed wholesale, wholetail, and retail remittance transactions in 2003, representing more than $1.2 trillion in value. VICOR is headquartered in Richmond, CA, and is privately held. For more information, visit www.vicor.com.