Press Release

BankServ Named to Inner City 100 List for Impressive 5-Year Growth

SAN FRANCISCO, May 7, 2008 — For the fourth time, BankServ has been named to the ICIC-Inc. Magazine Inner City 100 list for its rapid growth. With a cumulative five-year growth rate of 168%, BankServ placed 76th on the 2008 list of the fastest-growing businesses in inner city communities nationwide.

In making its fourth 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 five years, it has grown from approximately 40 employees to more than 120, and now works with over 400 banks in 53 countries.

"As a company located in one of the most demographically diverse places in the country, BankServ has benefited immensely from the variety of talents we find in the local workforce," said David F. Kvederis, BankServ’s president and CEO. "As we've grown, we have encountered the need for workers who do everything from program computers to speak a foreign language fluently. The San Francisco community attracts exactly the kind of bright and talented people we want."

Kvederis pointed to one recent deal as an example of local businesses and residents working side by side: A local bank serving the region's large Chinese-American population was getting busy every January as customers sent money to their families in Asia for the Chinese New Year. After installing one of BankServ's automated systems, the bank tripled its capacity to handle international money transfers.

"This is a deal that probably couldn't have happened in any other place in the country," Kvederis said. "Our company, the bank, and the local community all benefited from living and working next to each other."

This year's Inner City 100 award is the most recent of several awards that BankServ has been honored with for outstanding growth. The company is also a three-time member of the Inc. 500 — a list of the fastest-growing private companies in America — as well as Deloitte & Touche's annual compilation of the fastest-growing firms in the Silicon Valley region.

"We are delighted to celebrate businesses like BankServ that are playing a critical role in urban communities throughout the country," said David G. Latimore, president and chief executive officer of the Initiative for a Competitive Inner City. "These high-growth businesses help create jobs, income, and wealth for local residents, and they prove our belief that the most effective way to create economic equality in America's inner cities is to focus on sustainable business growth and investment."