US-based First Technology Capital, Inc. (FTC) has announced that it has purchased all of the business assets of United Recovery Services (URS), a division of United Computer Capital Corporation (UCCC). URS, located in Cherry Hill, New Jersey, is one of the US's leading providers of business continuity services for both item and remittance processing. URS's New Jersey Recovery Facility contains all of the equipment and infrastructure necessary to allow a financial institution to recreate their production-processing environment at URS's site in the event of a disaster or outage at their production facility.

Mr. James Bates, President of FTC, stated, "With hundreds of billions of dollars flowing through the item and remittance processing facilities daily, financial institutions cannot afford to be without the capability to process those transactions in a timely fashion." Mr. Bates went on to say, "There are also government regulations like Check 21 that require financial organizations to take the necessary steps to ensure the continuity of services in the event of some form of outage at the production processing site."

The site in New Jersey will provide a logical extension of FTC's current recovery capabilities located both at one of their sites in Phoenix, Arizona and in partnership with a major disaster recovery supplier at a site in Atlanta, Georgia. "The ability to accommodate multiple customers in the event of a multiple disaster or a regional outage has always been of great importance to the financial community when choosing a recovery supplier," said Mr. Bates. "The addition of Cherry Hill to our inventory of facilities only strengthens our ability to accommodate multiple, simultaneous outages within our customer base."

FTC, organized in 1990, is currently the world's largest provider and lessor of secondary market MICR equipment to the financial industry. FTC buys, sells, and leases new, used and refurbished banking equipment manufactured by IBM, Unisys, NCR, BancTec and others. In addition to the MICR services, FTC offers a comprehensive array of business continuity services aimed at the financial services industry. This offering provides financial institutions with comprehensive recovery back up for its check processing operation and it allows total subscriber control over the item processing operation. Corporate offices are located in Versailles, Kentucky with additional sales and service offices in Chicago, Atlanta, New York, Phoenix, and, Florida.

http://www.ftc-us.com/

•Date: 26th Sept 2006• Region: US •Type: Article •Topic: BC markets
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