Benchmark Technologies Group, Inc., a leading cash management automation solutions developer, has been acquired by Digital Check Corp., a significant image capture and payments processing technology provider. Benchmark Technology Group would become a Digital Check Corp subsidiary but retain its brand, market, and operational independence.
Established in 1985, Benchmark offered proprietary banking systems manufactured by IBM, Bunker-Ramo, NCR, ISC, and Burroughs. Benchmark offered both new and refurbished versions of these and other in-demand terminal systems. Personal computers soon overtook proprietary terminal systems, significantly altering the business. Benchmark reinvented itself in this changing market.
Benchmark offers production services to credit unions and banks, some of which have been clients for 20 to 30 years and have grown to become one of the nation’s largest, despite their origins as community banks. Benchmark aided in their growth by assisting them in making informed technology decisions. As a trusted adviser, Benchmark provided consumers with genuine feedback on navigating hardware selections, testing software compatibility, aiding with software integrations, and managing technology installations.
This acquisition emphasizes Digital Check’s strategy of expansion and revenue diversification in check and cash automation solutions, which assist clients in meeting their financial transaction automation objectives. Digital Check and Benchmark hope to increase customer value by integrating the two software solution firms.
Jeff Hempker, president of Digital Check, states, “Digital Check is pleased to add Benchmark Technology Group to our family of companies. We view this as an opportunity for the entire Digital Check Corp. ecosystem for further commitment to deliver deep domain expertise to the financial transaction automation market and beyond.
As always, our focus will remain on enabling our partners and customers revenue growth, new operational efficiencies, predictable outcomes, and an optimized workflow for the future.”
Jack Malinowski will take over as president of Benchmark Technology Group while serving as Chief Technology Officer and Inspirational Leader. Malinowski says, “We are thrilled to join our respective software initiatives in check and cash automation. Benchmark will also continue to provide technology project services and best-in-class hardware options from a variety of manufacturers, including the Digital Check brands.
Our two organizations have enjoyed an excellent relationship for 17 years, and our cultures already align by placing the customer at the center of all we do. This is a natural and seamless transition that only strengthens our software growth opportunities.”
Joey Jackson, VP of Cash Automation at Benchmark, states the modern consumer’s need for High-Tech banking. The new digital channels drive customers away from branches, forcing financial institutions to make additional efforts to entice them back to physical locations to create personal relationships that lead to high-value offerings that boost wallet share. Simultaneously, he offers Benchmark’s revolutionary cash handling software.
Studies show that people go to branches for three reasons: seeking investment advice, discussing lending options, and completing cash transactions,” Jackson explains. “Benchmark’s CashWare solutions address branch cash handling. CashWare enables branches to secure cash and provide fast and convenient access to it anywhere in the branch through innovative software which manages cash recycler technology.”
Since Benchmark’s CashWare allows a universal banker to execute cash transactions remotely using a tablet, customers will not have to wait endlessly to get their cash.