Press Release

BankServ Named to List of Fastest-Growing Urban Firms

May 4, 2006 — For the third straight year, BankServ, a San Francisco-based financial services provider, has been named to the Inner City 100, a ranking of the fastest-growing companies in the core urban areas of American cities. With a five-year growth rate of 514.3%, BankServ placed 31 st on this year's list.

The Inner City 100 competition, originally launched in 1999 as a partnership between Inc. Magazine and the national non-profit group Initiative for a Competitive Inner City, spotlights entrepreneurship in urban areas as a key to creating healthy and functional city centers. In making its third appearance on the list, BankServ is drawing recognition for its commitment to the city of San Francisco , where it has maintained its headquarters since 1996.

"In the past decade, a lot has changed in the San Francisco business climate — soaring rents, the rise and fall of the high-tech sector, and the increasing appeal of outsourcing certain jobs to other companies or to other countries, to name a few," said David F. Kvederis, BankServ's president and CEO. "We view it as a remarkable sign of stability that BankServ has kept its core operations at home while at the same time expanding into the national and global markets."

This year's Inner City 100 award is the most recent of several that BankServ has been honored with in recent years for outstanding growth. The company is also a two-time member of the Inc. 500 – a list of the fastest-growing privately held companies in the United States – checking in most recently at No. 144 in 2004 for overall growth of 1,090 percent since 1999. It has also been included in the Deliotte Technology Fast 500 and Silicon Valley Fast 50, which rank the growth of all publicly and privately held technology firms in North America and Silicon Valley, as well as the San Francisco Business Times' Fast 100, a list of the 100 fastest growing private companies in Northern California .

Today, BankServ boasts over 400 bank clients in 52 countries. Kvederis attributes the company's steady growth and stability to its ability to adapt to the constant change in the financial industry.

"Banking has changed a lot in the past 10 years. In 1996, we were selling check-scanning machines to grocery stores. Today, we're providing important backroom processing of money transfers and foreign exchange for banks around the world," Kvederis said. "Receiving these awards provides confirmation that we're developing products for which there is a real need."