Document Security Systems, Inc. Uses NCR Technology for
Successful Test of Check 21 Survivable Image Verification
ROCHESTER, N.Y., Jan. 20 /PRNewswire-FirstCall/ -- Document Security Systems,
Inc. (AMEX:DMC) announced today that they have successfully tested checks
containing Document Security System's (DSSI) new patent-pending
AuthentiGuard(TM) Survivor 21(R) technology using NCR Corporation's high-speed
check scanners, which are widely utilized by the banking industry.
Under the new "Check 21" regulations that took effect in October 2004, banks
are no longer required to physically sort and distribute checks back to the
"drawn on" or "originating" banks. Instead, electronic scans of the check can
replace this process. Banks are at risk to potential check fraud because they
will no longer have the actual original check returned to them by the banking
institution at which the check was presented for payment. Therefore, a method
is required to determine the authenticity of a scanned check. One such
validation method developed by DSSI is to have a hidden security feature appear
on the scanned image of the check, thereby confirming that the check that has
been scanned is authentic. This test, conducted by NCR Corporation, confirms
that the banking industry now has an economical solution to the problem of
validating the authenticity of checks as they enter the electronic check era.
Denis Bergeron, director of Product Management & Marketing for NCR's Payment
Solutions group, stated, "Document Security Systems' Survivor 21(R) image was
successfully tested on NCR's iTRAN check processing transports by our Research
and Development team. The hidden icon image developed by Document Security
survived the high-speed scans and remained prevalently shown on the electronic
images. Other components of the image that Document Security had calibrated to
disappear, such as the hidden anti-copy word "Void," did not survive the scans
as planned. This is good news for the industry. It addresses an important and
immediate concern banks have expressed as they move towards check truncation
and image exchange." Patrick White, Chief Executive Officer and President of Document Security
Systems, Inc. stated that, "We are extremely gratified that NCR Corporation,
one of the leading providers of high-speed check scanning equipment to the
banking industry, has validated our Survivor 21(R) technology. We believe that
this successful test demonstrates that Document Security Systems has created a
solution to the potential problem of increased check fraud under the new "Check
21" regulations. According to the American Bankers Association's most recent
survey, attempted check fraud at U.S. banks totalled more than $4.3 billion in
2001, with actual bank losses totalling $698 million, and most banking industry
observers believe these numbers may rise as a result of "Check 21." By
utilizing our technology, banks can reduce the possibility of check fraud
without purchasing expensive new hardware or software to assist in the
verification of the scanned electronic checks. To utilize this new technology,
all that a bank would need to do is to direct its check printer to replace
their current check paper stock containing outdated security background
pantograph with new checks that contain our Authentiguard(TM) Survivor 21(R)
printed pantograph." Document Security Systems also reported that a number of large check printers
are in the process of test printing its new patented-pending technology.
For Licensing and other information contact:
Contact: Earle Ingalls
Company: Document Security Systems, Inc. Voice: 877-276-0293
Fax: 585-325-2977
Email: Safe Harbor Statement
This release contains forward-looking statements regarding expectations for
future financial performance, which involve uncertainty and risk. It is
possible the Company's future financial performance may differ from
expectations due to a variety of factors including, but not limited to, changes
in economic and business conditions in the world, increased competitive
activity, achieving sales levels to fulfill revenue expectations, our ability
to market and sell our technology, consolidation among its competitors and
customers, technology advancements, unexpected costs and charges, adequate
funding for plans, changes in interest and foreign exchange rates, regulatory
and other approvals and failure to implement all plans, for whatever reason. It
is not possible to foresee or identify all such factors. This press release
contains forward-looking statements within the meaning of section 27A of the
Securities Act of 1933 and section 21E of the Securities Act of 1934. Investors
are cautioned that there are additional risks associated with investing in our
Company, and are referred to the Risk Factors contained in our Exchange Act
filings with the SEC, which risks may change from time to time. Any
forward-looking statements in this report are based on current conditions;
expected future developments and other factors it believes are appropriate in
the circumstances. Prospective investors are cautioned that such statements are
not a guarantee of future performance and actual results or developments may
differ materially from those projected. The Company makes no commitment to
update any forward-looking statement included herein, or disclose any facts,
events or circumstances that may affect the accuracy of any forward-looking
statement.
About Document Security Systems, Inc.
Document Security Systems, Inc. (AMEX:DMC) is one of the world leaders in
optical anti-scanning, anti-counterfeiting technologies for homeland security,
governments, law enforcement agencies, security printers, brand packaging, and
businesses concerned with enhancing security and reducing identity theft. The
Company develops, licenses and sells anti-counterfeiting technologies and
related products such as its new AuthentiGuard(TM) safety paper which protects
original documents from copying or duplication. Document Security also offers
its verification technology to authenticate originals from forgeries. The
various anti-scanning technologies can be utilized on currency, vital records,
brand packaging, labels, tickets, ID Cards, passports and gift certificates to
name just a few of the possible applications. Document Security System's
anti-counterfeiting solutions stand out as a result of the Company's industry
leading technology and unique understanding of customer needs. The Company's
product suite includes: AuthentiGuard(TM) Block-Out(R), AuthentiGuard(TM)
Pantograph 4000(R), AuthentiGuard(TM) ObscuraScan(R), AuthentiGuard(TM)
Prism(R), AuthentiGuard(TM) Survivor 21(R), and AuthentiGuard(TM) Laser
Moire(R).
For Investor Relations contact:
Contact: Cherrie Mahon
Company: Document Security Systems, Inc. Title: Shareholder Relations
Voice: 877-276-0293
Fax: 585-325-2977
Email: Websites: http://www.documentsecurity.com/
http://www.safetypaper.com/
http://www.legalstore.com/
http://www.patrickprinting.com/ or
Sabre Holdings
Filo Vallano, 682-605-1104
DATASOURCE: Document Security Systems, Inc.
CONTACT: Cherrie Mahon, Document Security Systems, Inc., Shareholder Relations, 1-877-276-0293, ; Filo Vallano, Sabre Holdings, +1-682-605-1104, Web site: http://www.documentsecurity.com/ http://www.safetypaper.com/ http://www.legalstore.com/ http://www.patrickprinting.com/
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