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Allied Payment Network Honored as One of the 2014 Indiana “Companies to Watch”

Allied 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 products.

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 continue – 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, among others.

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.

About OSBE

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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