Press Releases

Vicor Hires Industry Veteran for National Account Team

Ed Gaspredes to Advance VICOR’s Receivables Management Strategy

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

RICHMOND, CA, February 17, 2004 – VICOR, Inc., the leading provider of integrated receivables processing and management solutions, today announced that Ed Gaspredes has joined the company as Vice President, National Account Management. With over 25 years of industry experience, Gaspredes is recognized as an expert in remittance, lockbox, and check processing solutions, reinforcing VICOR’s unmatched expertise as it broadens it client base.

In his role, Gaspredes will be responsible for advancing VICOR’s vision of receivables processing and management solutions: how VICOR software products help customers cut costs, improve quality, and highly align receivables management with business processes to enhance customer relationships, increase fee income, and position themselves for growth.

Gaspredes will report to Mike Dignen, Senior Vice President, National Account Management.

“We are delighted to have a person of Ed’s stature in the transaction processing industry join our team,” said Dignen. “Ed’s expertise, accomplishments, and strategic marketing skills will position him as a key player in helping VICOR continue its momentum as the leader in receivables processing, as well as in taking us to leadership roles in new market segments.”

“The tremendous success of VICOR is a reflection of the exceptional commitment, skill, and client-driven thinking that our team brings to their jobs every day,” said VICOR President Robert F. Kirk. “VICOR will continue to invest in its people and its infrastructure as we collaborate with our customers to face and exceed the challenges of tomorrow.”

“I am excited to be working with VICOR’s outstanding national account team and to be raising market awareness of VICOR’s leading suite of automated receivables offerings,” said Gaspredes. “I look forward to helping VICOR take advantage of its unique opportunity to establish itself in new market segments by delivering on its promise of extraordinary value.”

Gaspredes joins VICOR from Advanced Financial Solutions, Inc. (AFS), where he served as Senior Account Executive for receivables solutions. Previously, he was a sales representative for Network Appliance, where he was responsible for successful sales campaigns at several large accounts. Before joining Network Appliance, Gaspredes spent 17 years with BancTec, Inc., where he established the largest revenue-producing territory in the company’s history. Gaspredes holds a bachelor’s degree in economics from the University of Maryland.

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 over 100 million transactions in 2003, representing more than $1.2 trillion. VICOR is headquartered in Richmond, CA, and is privately held. For more information, call 510-621-2000 or visit www.vicor.com.