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Details

Nov 13, 2019The company serves the financial services sector. More specific, the company is a developer of software implementation solutions that facilitate financial institutions, their corporate customers and their technology vendors to efficiently support check image cash letter (ICL) technology at the enterprise level.

Key aspects
· Established source of recurring revenue through annual maintenance programs
· Qualified personnel with deep knowledge of the check image exchange process
· Strong domestic and international presence with global financial players
· Established long-term relationships with leaders in the financial industry in both the United States and Canada
· Successful internet marketing strategy available for customers with competitive pricing
· Competent and ethical personnel with memberships in the X9 & ECCHO standards committees and associations

Opportunities
· Further research on how check ICL files can be used in the process of remote deposit, remittance processing, fraud detection, and others
· Offer of a periodic upgrade to the current ICL processing software
· Addition of more customers which translates to recurring revenue opportunities
· Change pricing model from one-time software license purchase to an annual license fee & automatic renewal that includes maintenance
· Leverage the company's large customer base and promote the platform solution to augment item processing in an efficient and cost effective way

Headquartered
Houston, Texas

Current markets
The company serves key customers in the financial sector, primarily the banking industry seeking to improve internal processes. The company serves the United States and other international markets.

Real estate
The company operates out of a 2,025 square-foot facility leased from an unrelated third party in Houston, Texas. According to management, there is room for expansion in the current space.

Shareholder/owner objectives
The company is 100% owned by a single individual who acts as a silent partner. The impetus for selling is the owner's desire for financial planning and consolidation as he nears retirement age.

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