Celent Confirms Panini as Market Leader in Distributed Check Capture Market

Panini Ends 2006 with Banner Results

DAYTON, Ohio--(BUSINESS WIRE)--Panini has been confirmed as the market share leader in distributed check capture based on independent, third-party research conducted by Celent, a leading research and consulting firm in the global financial services industry. This powerful data verifies Panini has installed more than twice the number of check scanners than its closest competitor within the top 100 U.S. banks (as measured by asset size).

“This year we will focus on extending our market leadership in the industry and developing outstanding relationships with both our customers and partners.”

Celent utilized Informa Research Services, Inc. (Calabasas, California) to execute a telephone survey among each of the top 100 financial institutions in the nation. The survey targeted retail and treasury contacts representing product management, IT and operations. Upon completion of the survey, Celent directly contacted financial institutions and various vendors to add precision to the data.

The Celent research, conducted in late 2006, also found that two-thirds of installed check scanners used by the top 100 banks for distributed check capture are Panini, and over 80% of devices deployed in the nation’s top 10 banks are Panini, as well.

“Our customers’ recognition of Panini as the standard for distributed capture is evident in these results,” states Doug Roberts. “This year we will focus on extending our market leadership in the industry and developing outstanding relationships with both our customers and partners.”

The Celent research, together with banner results for 2006, substantiated Panini’s market leadership. The company led the industry by shipping its 100,000^th My Vision X™ check scanner in 2006, which predominates the top 100 banks. In addition, Panini increased revenue by nearly 50% over 2005, continuing a strong revenue climb.

The Panini My Vision X can be found in many of the nation’s top 100 banks. For more information regarding the Celent Top 100 research, visit Panini’s website at www.panini.com.

About Panini

Founded in Turin, Italy, Panini has a successful sixty year history of enabling clients to capitalize on shifts in the global payments processing market. Panini has a rich history of technology innovation, leveraging the company’s expertise in research & development. With state-of-the-art engineering resources and ISO-9000 quality certified production, Panini will continue to deliver market leading solutions. Panini North America, established as a wholly owned subsidiary in 1995, offers check capture solutions that help customers fully realize the advantages and efficiencies available with the digital transformation of the paper check. Panini’s scalable check capture solutions address the complete range of distributed check processing opportunities including teller capture, back-counter, corporate capture, cash vault, microfilm replacement and remittance processing. For more information please call 937.291.2195 or visit www.panini.com.

About Celent

Celent, LLC is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis.