 |
 |
 |
 |
 |
 |
 |
 |
||||
 |
|
 |
||
|
|
||||
 |
||||
|
||||
Davidson Joins Slavens to Create Branch21
Davenport,
Iowa
March, 2004
Former software president joins Slavens to modernize bank processing.
New Era Financial Services Inc., a local leader in backoffice bank processing, today announced Todd Davidson, founder and former president of Golden Gate Software, Inc., will join Matt Slavens, president and CEO of New Era Financial Services, to create a new company, Branch21. Branch21 will perform as an electronic based innovator of financial processing products and services. Davidson, having spent the last twenty years in the Silicon Valley area of California returns home to expand NEFS fundamental practices and guide Branch21 into the digital future of banking. "Banking by nature, particularly among small banks, is a conservative business and has not yet taken full advantage of modern technology and economies of scale. Check 21 legislation, approving the electronic processing of checks, offers banks and financial institutions a rapid growth path to the future of bank processing," said Davidson.
Davidson will oversee the sales and marketing functions at Branch21. With more than ten years of experience growing sales and marketing organizations in the technology field, Davidson brings a wealth of knowledge. Most recently, Davidson co-founded and grew a software company specializing in high performance data synchronization from the ground to over $30m in sales. As the company grew and added a financial partner, Davidson stepped away from operational duties, though remains active as a board member. "I tend to be entrepreneurial and enjoy the customer interaction found within smaller companies. Any time you can bring innovative products and services to a market that is undergoing a technology shift, I am interested," says Davidson.
For Slavens, it is a time to expand. The Slavens family has a long, prosperous history in banking dating back over 50 years. "I have been in and around banking all of my life," said Matt Slavens. However, Matt’s focus has always been the technology. "Perhaps it is my training, but I have always gravitated to improving the processing side of the business." For over ten years, Slavens has grown and developed New Era Financial Services into the local leader in bank processing. Three years ago, Matt Slavens separated from the family and assumed complete control and ownership of New Era.
"We have established ourselves as responsive, reputable and customer focused provider of the check and core processing, however, our growth has been somewhat limited by distance and the notion of banks as direct processors," said Slavens. Existing technology allows checks to be scanned, turned into electronic files and processed digitally. For community banks the investment into new hardware, software and personnel simply does not make sense, so many are turning to outsourcing their processing to take advantage of economies of scale and benefits of electronic payment. The increase in debit and credit cards has already eroded the volume of checks and centralized processing and electronic presentation is the natural next step.
Due to the market dynamics, both Davidson and Slavens see a rapid growth path. "Today, we process for about 40 banks. We believe that number could triple or quadruple within 2 years."
About Branch21 Inc.
Branch21, Inc., in combination with its’ affiliate New Era Financial Services, is a premier provider of service and software solutions for community banks and financial institutions. With a comprehensive line of item and core processing products and services including branch capture, image item processing, image statement preparation, internet banking and complete data processing, Branch21 is leveraging technology to deliver integrated, cost effective banking solutions. Over 50 financial institutions are served through Branch21’s products and services. For more information contact slund@branch21.com
