VSoft Announces Q1, Q2 Milestones, Revenue Growth

2010 Marks Introduction of New Core Solution, Imaging Solution Reaches More Than 4,000 Credit Union Branches, Revenue Increases 26 Percent

ATLANTA--(BUSINESS WIRE)--VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced new milestones achieved during the first and second quarters of 2010. During the period, the company introduced CoreSoft, its new core solution, reached a milestone with 4,000 credit union branches leveraging its imaging solutions, and closed its fiscal year with global revenue increases of 26 percent when compared to the fiscal year ending in 2009.

“The industry is experiencing a shift in its processes, which yields the opportunity to dramatically improve baselines by selecting more integrated, economical solutions. We look forward to setting these new, heightened standards throughout the remainder of 2010.”

“VSoft offers financial institutions the opportunity to increase productivity and efficiency – something that is needed now more than ever,” said Murthy Veeraghanta, chairman and managing director, VSoft Corporation. “The industry is experiencing a shift in its processes, which yields the opportunity to dramatically improve baselines by selecting more integrated, economical solutions. We look forward to setting these new, heightened standards throughout the remainder of 2010.”

CoreSoft meets an industry need to replace legacy systems with a technology that can provide seamless, real-time, high-volume and high-performance transactions across multiple channels supporting all the deposit and lending activities. The flexible solution is scalable to any size financial institution helping them attain long-term growth strategies. Virginia-based Carter Bank and Trust collaborated in the development of the solution, earning the bank and VSoft a feature in Bank Technology News’ (BTN) 9th Annual Innovator Awards issue this June.

VSoft introduced a Software as a Service (SaaS) delivery model for its full suite of check processing, document and reporting solutions in April, enabling credit unions such as Arizona Federal Credit Union to have all of the functionality of a full in-house image processing system while leveraging the infrastructure of VSoft’s data center, VSoft Managed Services. Other credit unions, including Guardian Credit Union selected its ASP platform, VServe, to handle branch item capture, image exchange and research/archiving of its images.

About VSoft Corporation

VSoft Corporation offers core and payment-processing solutions that improve service, reduce cost and maximize efficiency for financial institutions. Its solutions provide seamless, real-time, high-volume and high-performance transactions across multiple channels and can be delivered in–house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions.

VSoft’s services have been trusted by more than 1,900 banks, credit unions and savings institutions, as well as transaction processors, governments, utilities, telecommunications and retail organizations worldwide. The company’s growth and stability has been recognized by inclusion in the 2007, 2008 and 2009 Inc. 5000, the 2008 and 2009 Software 500, recognition as a Top 10 Fastest Growing Company in Atlanta in 2008 and a feature in Bank Technology News’ 9th Annual Innovator Awards for its core solution. For more information call 770–225–7692 or visit www.vsoftcorp.com.

Editor's Note: The correct usage of the company name, VSoft Corporation, is either referring to it as VSoft Corporation or VSoft, with both the "V" and the "S" capitalized.