|[July 23, 2014]
Allied Payment Network Honored as One of the 2014 Indiana "Companies to Watch"
FORT WAYNE, Ind. --(Business Wire)--
Payment Network, a provider of online and mobile bill payment
services to the financial industry, announced that it has been
recognized as one of the 2014 Indiana "Companies to Watch," an awards
program presented by the Indiana Office of Small Business and
Entrepreneurship (OSBE), its Indiana Small Business Development Center,
the Indiana Economic Development Corporation (IEDC), and endorsed by the
Edward Lowe Foundation.
"Companies to Watch" recognizes Indiana's privately-held second-stage
companies that have experienced exceptional growth and are well
positioned for future growth. Allied was selected based on the company's
positive and measurable impact on Indiana's diverse economy, which is
driven by the success of Allied's innovative online and mobile bill pay
The 27 companies honored range in industries and have headquarters based
in 12 counties throughout the state. From 2010 through 2013, these
companies generated $379 million in revenue and added 622 employees
(both in Indiana and out of state), reflecting a 120 percent increase in
revenue and 96 percent increase in jobs for the four-year period. That
translates into a 40 percent annual revenue growth and 32 percent annual
growth in employees.
"This year's class of 'Companies to Watch' demonstrates the creativity
and business skills of Hoosier entrepreneurs from throughout Indiana,"
said Lt. Governor Sue Ellspermann. "They are already making meaningful
contributions to our economy and creating jobs in a variety of business
enterprises. I congratulate them on their success and how they show that
Indiana is 'a state that works' for small business."
"It is an honor to be named one of Indiana's 'Companies to Watch' and be
included among this elite group of companies," said Ralph Marcuccilli,
president of Allied. "We have experienced incredible growth over the
past four years, and we expect that growth to cotinue - we have several
new products in the pipeline and we look forward to launching these
products throughout the second half of this year."
Allied is the inventor of Picture Pay®, which is still the
only turn-key mobile photo bill payment system in the United States that
can be deployed at community financial institutions. It allows financial
institutions' customers to pay any bill using their smartphone camera.
With Picture Pay, users simply take a picture of the bill, enter the
amount and date, and the bill is paid. By completing data entry for the
user, Picture Pay removes the biggest barrier to bill pay adoption - the
hassle of entering a new payee and account information online. In
addition to Picture Pay, Allied offers a full suite of online and mobile
bill pay channels including solutions for internet bill pay, small
business payments, over-the-counter payments and online loan payments,
About Allied Payment Network
Allied Payment Network is an industry-leading provider of emerging bill
pay technologies to the financial services and retail industries. With
its award-winning solution, Picture Pay®, Allied pioneered
the first mobile photo bill pay application for smartphones and has
brought the same level of innovation to its full suite of online and
mobile bill pay channels including solutions for internet bill pay,
small business payments, over-the-counter payments and online loan
payments, among others. Allied's goal is to make the bill paying process
easier and more convenient for consumers, and more efficient and cost
effective for the financial institutions who serve them. For more
information, visit www.AlliedPayment.com.
Under the leadership of Lt. Governor Sue Ellspermann, the Indiana Office
of Small Business and Entrepreneurship (OSBE) oversees the Indiana Small
Business Development Center (ISBDC), the Procurement Technical
Assistance Center (PTAC), and the Indiana Small Business Ombudsman. The
OSBE staff helps grow the Indiana economy by assisting entrepreneurs and
small businesses through programs and personal consultation. For more
information on OSBE and to see how Indiana is "the state that works" for
entrepreneurs visit www.osbe.in.gov.
About the ISBDC
As part of OSBE, the ten Indiana Small Business Development Centers
(ISBDC) support the formation, growth, and sustainability of Indiana's
small businesses by providing entrepreneurs expert guidance and access
to a network of resources. Funding for the regional ISBDCs comes from
state universities, chambers of commerce, economic development offices,
mayor offices, and banks. Statewide financial support is provided by
U.S. Small Business Administration, the State of Indiana and Ivy Tech
Community College. Administratively, the ISBDC Lead Center is operated
by the Office of Small Business and Entrepreneurship (OSBE), an agency
of the Office of Lt. Governor Sue Ellspermann. To learn more about the
ISBDC and to become a client visit: http://isbdc.org.
About Indiana Companies to Watch
Indiana Companies to Watch is an awards program celebrating second-stage
entrepreneurs presented by the Office of Small Business and
Entrepreneurship, its Small Business Development Center, the Indiana
Economic Development Corporation and endorsed by the Edward Lowe
Foundation. Sponsors include the Barnes & Thornburg, Katz Sapper &
Miller, Key Bank and Ivy Tech Corporate College.
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