Growing demand for digital imaging software by financial
institutions has accelerated sales growth for Advanced Financial
Sales for 1998 soared to $31 million from $17 million for 1997
AFS President Gary Nelson expects sales for 1999 to reach $40
Much of the Oklahoma City-based company's growth is being fueled
by financial institutions upgrading item-processing capabilities to
the latest in digital imaging technology.
Advanced Financial Solutions is the developer of AFS ImageVision,
a digital imaging system used by more than 3,500 financial
institutions and non-financial businesses.
"Financial institutions are fiercely clambering to position
themselves to compete in a market driven by the value of customer
service and operational efficiencies," Nelson said on Wednesday.
Digital imaging software, like AFS ImageVision, scans each
financial document and saves the image as a digital file. By storing
the images on a computer, financial institutions considerably
simplify the item-processing function, and streamline record
retention and retrieval.
"Financial institutions are demanding more speed, higher quality
and the ability to process large daily volumes of items," Nelson
said. "Digital imaging technology can deliver all three."
But growth is not limited to financial institutions.
AFS took major steps outside the banking industry during 1998,
Nelson said. Major sales and significant growth were recorded in
state government, city and county government, security firms,
insurance and oil and gas. Contracts included three of the largest
oil and gas companies in the United States, he said.
The company also has strong international sales. AFS received
major contracts during the year from Kenya, Mexico, Asia and Brazil.
The company now has about 65 employees. In addition to the
headquarters in Oklahoma City, AFS has an engineering office in
Norman and sales offices in Tulsa, Dallas, Los Angeles, Charlotte,
N.C., New York, Baltimore and Atlanta. The New York, Baltimore and
Atlanta offices opened since mid-1998.
In a quest to increase service as well as achieve an advantage
over the competition, financial institutions like Sterling Bank of
Houston were some of the early adopters of computer-driven, image-
"We've always embraced innovation as long as it improves customer
service and, at the same time, demonstrates an ability to increase
productivity, " said Glenn Rust, executive vice president of
operations and technology at Sterling Bank. …