- BancTec, Inc. Awarded Contract From Chevron U.S.A. Inc. for State-of-the-Art Transaction Processing and ARC Solution -

LONG BEACH, Calif., June 9 -- BancTec, Inc., the most recognized name worldwide in transaction processing, announced today that it has been awarded a contract from Chevron U.S.A. Inc. (Chevron), for an integrated image-based remittance processing and accounts receivables conversion (ARC) solution. The advanced system will include PayCourier, BancTec's sophisticated high-volume remittance solution, and the MICRWorks, RemitWorks, and ReturnWorks ARC modules.

Under the new agreement, Chevron will upgrade to BancTec's PayCourier, a highly scaleable transaction processing product that uses a single database for paper and electronic payments, providing a single point of entry for all remittance posting. Chevron also will install BancTec's ARC module. PayCourier will run on BancTec's fully featured, multi-speed E-Series transports, which use an uphill power feed hopper and an intelligent gap management system.

BancTec's ARC module uses high-speed image technology to scan paper checks and capture accounts receivables and bank account information. The data then is converted into automated clearing house debits and is processed electronically. The process speeds funds availability and streamlines operations -- delivering both customer service and bottom-line benefits. Additionally, PayCourier offers on-screen assistance for ARC transactions when recovering from hardware jams.

"We look forward to working with Chevron to unlock new flexibility, cost savings and productivity improvements," stated Malcolm J. Gurney, vice president of marketing, worldwide solutions, at BancTec. "Winning this contract validates our new technology roadmap, and solidifies our leadership position in the emerging ARC arena."

About BancTec, Inc.

Founded in 1972, BancTec is the most recognized name worldwide in transaction processing. BancTec has deployed transaction and document solutions in over 50 countries, counts among its customers some of the most prominent companies in the world, and is honored to be a member of the TAWPI Hall of Fame. The vendor's product suite combines unique flexibility, scalability, and connectivity to provide users with unprecedented levels of automation in the capture, processing, and distribution of electronic and paper documents and transactions. BancTec complements its product suite with a line of proven hardware solutions, and dependable service and support. To learn how BancTec can help your organization reduce IT costs, increase productivity, and improve quality, visit our corporate Web site at www.banctec.com .