Press Releases
VICOR Hires Financial Services Industry Veteran as
Vice President of Business Development
Rick Smith to Advance VICOR's New Product and
Market Strategies
Contact: Mike Dignen
VICOR, Inc.
610-524-5950 or mdignen@vicor.com
RICHMOND, CA, December 8, 2004 – VICOR, Inc.,
the leading provider of integrated receivables processing
and management solutions, today announced the creation
of a senior management position charged with accelerating
the growth of its new product and market initiatives.
As part of today’s announcement, 25-year financial
services industry veteran Rick Smith has been named
vice president of business development and will report
directly to VICOR President Bob Kirk. Smith is widely
recognized as one of the thought leaders in the imaging,
workflow, and bank automation and information technology
systems arenas.
With this move, VICOR elevates the status of its business
development initiatives. In his role, Smith will be
responsible for advancing the company’s vision
for new markets and products, and leveraging its technical
expertise in receivables processing and management –
an area in which VICOR has achieved tremendous success
and anticipates future growth.
“These moves are designed to intensify our focus
on our core businesses and position VICOR for accelerating
growth and leadership as we unveil new product and market
initiatives,” said Kirk. “By creating a
business development post on our management team, we’re
in a much better position to make the right marketing
and R&D decisions in the emerging parts of our business.
We’re empowering Rick to focus all of his energy
on spearheading the creation of world-class systems
and solutions that build on VICOR’s successful
value propositions.”
Smith joins VICOR from eBusiness Design Group, Inc.,
in San Diego, a strategic marketing consulting firm
that he co-founded. At eBusiness Design Group, he helped
companies meet the challenges of the digital economy
and the new emerging business models of the Internet.
Smith led eBusiness Design Group’s development
into a nationally known firm with five consultants and
six associates. Before founding eBusiness Design Group,
Smith worked for leading technology companies such as
BancTec, Olivetti, and Recognition Equipment.
Smith holds a bachelor’s degree in aviation management
from Auburn University and an MBA in international marketing
from U.S. International University in San Diego.
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.
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