CTS North America Reports Strong Corporate Growth in 2012

WIXOM, Mich.--(BUSINESS WIRE)--CTS North America, a market leader in providing branch automation solutions to the financial services industry, reported significant corporate growth in 2012, including major deployments of its LS150 scanners with two of the country’s top five financial institutions; the establishment of several key strategic industry partnerships and a 289 percent increase in revenue year-over-year.

“Last year’s success resulted from turning our financial institution customers’ specific requirements into superior branch solutions”

To support its sustained growth, CTS opened a service and distribution facility adjacent to its US corporate offices in Wixom, Michigan. The company also increased staffing with the addition of three management-level positions in sales and operations functions.

The company established strategic partnerships with industry leaders including BLM Technologies, a leading provider of end-to-end branch technology solutions and Identification Verification Services (IVS, formerly Financial Crimes Services), a check fraud and accountability solutions provider. Through its partnership with BLM, the multi-functionality exclusive to CTS scanners provides BLM remote deposit capture solutions with advanced security features to customers that face a high potential for check fraud. Leveraging IVS’ SNARE software, CTS’ check scanners scan government-issued identification cards and immediately verify their authenticity. This enables law enforcement agencies and financial services companies to gain greater operational efficiency while enhancing their authentication and fraud prevention controls (including document identification, imaging and verification of ID including red flag compliance).

New products introduced by CTS in 2012 include the ID capture on the LS150 and LS40 scanners, enabling the scanning of ID cards through a unique by-pass feeder including 2D barcodes plus magnetic stripe reader-all in a single device with a very small footprint and Onepoint™, a new option available on the LS150 teller scanner that enables a receipt printer or other USB device to be connected and powered through the scanner.

"Last year’s success resulted from turning our financial institution customers’ specific requirements into superior branch solutions," said Glen Fossella, COO, CTS North America. "This sets the stage for 2013 as CTS brings an even broader set of branch automation technologies to the market designed to enable our customers’ retail strategies.”

About CTS North America

CTS North America is a market leader in providing branch automation technology to the financial services industry. Its parent company, CTS Electronics, is a global provider of automated systems for payments, document processing, cash recycling and deposits. CTS has more than one million peripherals installed across five continents, including more than 500,000 document readers and check scanners worldwide. Additional information is available online at www.ctsna.com.