CUTEK and XDI Create a Cooperative Marketing Agreement to Generate Industry Exposure and Increased Marketshare 

 

— Xpress Data, Inc. and CUTEK have commenced with a cooperative marketing agreement to generate enhanced exposure for their products and increased revenues for the future. —

 

SAN DIEGO — January 18, 2006 — To generate industry exposure and more credit union clients, CUTEK, a financial technology consulting firm for credit unions using Symitar’s Episys™ core processing systems, and Xpress Data, Inc., an outsource notice service provider for credit unions nationwide, have embarked on a cooperative marketing agreement. The agreement calls for CUTEK to promote XDI as its business partner, receiving marketing assistant fees for successful referrals. As a result, each company looks to have a greater visibility within the industry to continue gaining marketshare in their respective solution areas.

“Xpress Data is a leader in the outsourced notices space and has done a great job in serving their customers over the last decade,” says Dave Richards, vice president of marketing and sales for CUTEK. “CUTEK was founded on the simple principle: ‘Serve our customers to the fullest to ensure they have all of the tools they need to be 100 percent successful.’ We see XDI executing this same principle day in and day out and look forward to referring them to our vast network of contacts because we know they are innovative and reliable. These are companies we like to be associated with.”

Richards adds that the alliance enables CUTEK to offer more services to the company’s clients.

According to Mike Cooper, president of XDI, 64 percent of the notice provider’s clients use Symitar’s system, which are all prospects for the XpressServices product suite. So it makes sense to partner with CUTEK, which caters primarily to Symitar credit unions. In addition, CUTEK knows when a credit union is converting to Symitar. Subsequently, XDI could have an opportunity to implement its outsourced process of printing and mailing daily notices during the conversion, which is more efficient for credit unions.

“From our point of view, we see the growth potential of CUTEK and look forward to working with them to identify credit union prospects that would likely benefit from our outsourced printing and mailing services of daily notices and letters,” says Cooper. “CUTEK’s vast credit union experience also makes them invaluable to us in an advisory capacity. In addition, we look to utilize CUTEK’s software development capabilities to augment our internal resources.”

Xpress Data Inc., located in San Diego, Calif., commenced its document management business in 1995. XDI’s XpressServices specialize in printing and mailing event-driven member correspondence for credit unions. Correspondence such as late notices, NSF notices, CD maturity, notice of transfer, ATM and credit card letters, loan payment notices, year-end tax forms, member surveys, and more. Because XDI focuses exclusively on notices, letters, and forms, it can process and distribute these documents quickly and cost effectively. For more information on XDI and its XpressServices, call 858.676.9888 or visit www.xdi.com.

CUTEK, located in Murrieta, Calif., is a financial technology consulting firm for credit unions running Symitar’s Episys™ core processing system. Operating nationwide, CUTEK was created so credit unions could expeditiously implement add-on modules and enhance the performance of their Symitar systems with pre- and post-conversion services and operation enhancements. For more information on CUTEK, visit www.cutek.net.