Panini board agrees multi-year payments investment programme

Source: Panini

Panini S.p.A., a global provider of advanced systems for remote image-capture and payment processing, unveils that its Board of Directors has recently approved its multi-year innovation and growth strategy. The plan has been developed to enable the Group to leverage and extend its market share leading position worldwide while providing financial institutions and customers with the lowest cost of ownership, best reliability and broadest portfolio of industry partnerships.

Implementation of this strategy includes extensive Panini investment in research and development, supply chain operations, marketing, and customer services. Panini will scale its existing global organizational and industrial capabilities via internal and external growth.

"Panini projects very positive results for 2007 year end, with strong financial performance and the attainment of an unprecedented industry result with the delivery of our 200,000th My Vision X check scanning unit," says Ugo Panini, President and Managing Director of Panini S.p.A. "Our commitment is to continue along this path of double digit growth over the next 5 years, with an aggressive plan of investment in technology innovation and quality along the entire value chain, in order to give to our worldwide partners and customers the advanced, superior solutions they expect from the distributed capture market leader."

Panini will ensure its long term commitment to the North American market, the largest Group segment in terms of turnover/revenue, where it maintains relationships with industry technology providers, channel participants, Financial Institutions, and end users as key elements of comprehensive market coverage.

While doing business globally, the Group will be also increasing its presence in a number of strategic markets in Europe, Asia, and Latin America, to develop a deep market understanding of local customer needs and to facilitate cross-exchange of technology and experience between different markets.

Panini will look for ways to provide additional value for current customers and new targeted market segments through the development and delivery of new capabilities in the areas of products, software, and services.

Panini plans investments in new products and technologies for the distributed capture market and for a wider range of applications in the payments sector, including solutions for corporate, small business, retail and banking customers.

The first milestone of this multi-year strategy of innovation will be the complete redesign of Panini's market leading My Vision X check scanning product suite. The new product and connected strategic program will be launched by Mid November, and shown for the first time at the BAI Retail Delivery Conference and Expo, held in Nevada, USA, from November 13 to 15, 2007.

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