Press Release

BankServ Named to List of Fastest-Growing Silicon Valley Firms

San Francisco, Oct. 31, 2006 – For the second time in three years, BankServ has placed among the 50 fastest-growing high-tech companies in the Silicon Valley region, ranking 31st on the 2006 Deloitte & Touche Technology Fast 50 list for software and information technology announced on Oct. 25. Based on 188 percent growth over a five-year period ending in 2005, the financial services firm returned to the lineup that this year includes elite company such as Apple, NVIDIA, Symantec and Electronic Arts. The award marked an improvement of seven places over BankServ's 38th-place position in the 2004 list.

Also within the past week, BankServ was recognized by the San Francisco Business Times, placing 85th on the magazine's list of the 100 fastest-growing private firms in the Bay Area that includes firms in all industries.

In August, BankServ announced that it had signed a contract with its 100th bank customer to process wire transactions with its Global Funds Exchange system. Over the past year, it has also more than doubled the client base for its DepositNow! service that lets users scan checks and deposit them electronically using a desktop PC.

This summer, the company introduced a new version of DepositNow! that automatically updates users' accounting records in QuickBooks®, as well as a new check scanner, named the SB1000, that sells for roughly half the cost of most similar hardware on the market.

"We are very proud that we have been able to maintain such a strong growth rate over the past five years, especially since BankServ also won this award two years ago,” said Dave Kvederis, the company's president and CEO. “These awards are a tangible acknowledgment of the dedication and hard work of the BankServ employees who made it happen."

In addition to this week's honors, BankServ was also named in May to the Inner City 100, a list of the fastest-growing U.S. companies located in urban centers. It was also recognized by Inc. Magazine as one of the 500 fastest-growing private firms in the nation in 2003 and 2004.