COLORADO SPRINGS, Colo., April 27, 2009 (GLOBE NEWSWIRE) -- PSI Corp. (Pink Sheets:PSCP), operating as Pantel Systems, Inc., operates a full service E-Banking Kiosk, configurable with vertical specific proprietary functions including digital advertising, couponing, ATM, bill pay, on-demand gift cards and cell phone top-off talk time amongst its growing features, today announced it has signed a Letter of Intent with The Egan Group for MVMC, a subsidiary of The Egan Group, to provide strategic services including vault cash, armored car service, 24 hour help desk for customer support and installation services.
MVMC Corp is a large security and money management company servicing over 8000 ATM locations for banks, credit unions, and ISO retail ATM providers located throughout the tri-state and surrounding areas within the Northeast Region and is complemented by a traditional armored service provider, Armored Money Services.
"This relationship will provide enormous advantages for PSI," said David Foni, CEO of PSI. He further added, "this signed Letter of Intent with the Founder and President of a strong regional company, who is nationally recognized and locally valued, is exciting. PSI Technologies will be able to expand rapidly as The Egan Group Services will support the implementation of Pantel's 'Cash Xpress' e-Banking Kiosk allowing growth and market recognition to build business opportunities."
Bob Egan, Founder and President of The Egan Group, stated, "I have been in related financial services business since the founding of the first licensed check cashing store May 8, 1975. I see the e-banking Kiosk as another step on my journey with The Egan Group in the financial services world. I am very excited to partner with such a visionary team. The partnership will have a major impact on the kiosk and cash dispensing business, coupling coupon advertising and remote banking services in a cost-efficient price structure."
About PSI Corp.:
PSI Corp., operating as Pantel Systems, Inc., provides interactive customer communications systems and applications that support the targeted marketing programs at point-of purchase (POP) service and information. The Company has two verticals products: full service E- Banking Kiosks and full motion video digital signage in hospitals.
Forward-looking statements made in this release are made pursuant to the "safe-harbor" provision of the Private Securities Reform Act of 1995. Forward-looking statements made by PSI Corp. are not a guarantee of future performance.