Veritec entered into agreement with Security First Bank of Fresno

Veritec, a pioneer and developer of proprietary two-dimensional matrix technology and developer of mobile banking debit card solutions, announced that its subsidiary, Veritec Financial Systems ("VTFS"), entered into a license and maintenance agreement for its mobile banking platform with Security First Bank of Fresno, California. According to the agreement, Security First Bank will issue debit cards and prepaid gift cards on VTFS' mobile banking platform, and VTFS will provide back-end card processing services to the Bank for all cardholder transactions. Security First Bank and VTFS expect to begin issuing and processing cards as early as July of this year. Jeff Hattara, President and CEO of Veritec, Inc., commented: "Veritec is very pleased to enter into this innovative agreement with Security First Bank. Security First Bank is a highly respected bank that provides exceptional service to its accountholders and to its community. VTFS looks forward to supporting Security First Bank with its debit and gift card programs." Steve Jones, Executive Vice President and CFO of Security First Bank, said: "Veritec's banking platform and its professional services enable Security First Bank to be in a position to offer new and exciting debit and gift card products and related services to accountholders. It has also provided the Bank with a means to be able to reach out to those in our community that are currently under-banked with a service that helps people to manage their money more securely and far less expensively."