State Auto Mutual Insurance Company Selects BancTec to Provide Remittance Processing and Document Imaging Solution

DALLAS, May 10 /PRNewswire/ -- BancTec, a global provider of advanced, high-volume, document and payment processing solutions and services, announced that State Auto Mutual Insurance Company has selected BancTec's remittance processing and document imaging solutions to process insurance payments and other incoming documentation.  The BancTec solution will replace State Auto's legacy system, and process up to a peak of 40,000 payments per week.

"BancTec's ability to offer a high-speed imaging platform, as well as a single, integrated system for managing the capture, processing and archival of payments and related documents, was an important factor in selecting their solutions for this critical project," said Pam Holladay, Payment Services Manager, State Auto.  "Not only will we save time and money processing our remittances, and generating Image Cash Letters (ICL) instead of paper deposits, we can also leverage the new imaging system to 'insource' work from other departments and scan their documents as well."  

State Auto's imaging requirements will be fulfilled by BancTec's IntelliScan® XDS high-speed, mixed-document scanner.  The IntelliScan XDS offers an unparalleled combination of image quality, optical resolution and throughput, enabling State Auto to utilize the transport for scanning many different sized document types.  PayCourier® and PayCourier® Archive form the software components of the new solution. Demonstrating the robustness and flexibility of the solution offering, this application will reside on State Auto's corporate network.

About BancTec

BancTec helps clients around the world simplify the process of managing their information.  Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries.  BancTec's offerings include business solutions, business process outsourcing, and infrastructure services.  With headquarters in Dallas, BancTec serves clients in 50 countries.  For more information on how BancTec can help you optimize information management, visit www.banctec.com or call 1-800-BANCTEC.

Forward-Looking Statements

All statements in this press release that do not directly and exclusively relate to historical facts are "forward-looking statements" describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings.  These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements.  For a written description of these factors, see the section titled "Risk Factors" in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007.   The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.  

SOURCE BancTec