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About DeluxeDeluxe Corporation (NYSE: DLX), a Fortune 1000 company, is in the midst of transforming itself tobecome a Trusted Business Technology™ company that champions business, so communities thrive
Deluxe solutions help businesses pay and get paid, accelerate growth and operate more efficiently
For more than 105 years, we have been helping businesses succeed at all stages of their life cycle,from start-up to maturity. Our company’s unparalleled global scale supports approximately 4.5 millionsmall businesses, over 4,000 Financial Institutions and hundreds of the world’s largest consumerbrands, and uniquely positions us to be our customers’ most trusted business partner. For furtherperspective, Deluxe processes or supports approximately $2.8 trillion in payments annually – orroughly 13% of the U.S. GDP. Deluxe is delivering strong cash-flow and healthy margins, with sufficientliquidity to continue to thrive. Our dividend yield is in line with the S&P 500. We have unparalleledscale, an impressive customer list, a footprint in seven countries, marketing opportunities in the US,Europe and Australia, and an emerging presence in Latin America
Deluxe is Values- and Purpose-DrivenAs part of the significant strategy overhaul announced in 2019, we also refreshed our brand promiseand updated our core values. The New Deluxe has created an ownership culture by taking theunprecedented step of granting stock to every one of our North American employees to furtheralignment among employee and shareholder interests. Of course, underlying all of this, is the 100+year legacy of unquestioned integrity and an unshakable commitment to protecting the health andsafety of our employee-owners
Our Purpose:To be champions for businesses so communities can thrive
Our Values:» Customers first. We deeply understand and delight our customers by partnering with them to anticipate their needs, deliver on our commitments, and bring our diverse perspectives and unique insights. Their success is our success
» Earn trust. Our business and partnerships are built on trust and integrity - it is at the heart of what we do and guides our decisions. We always strive to do the right thing
» Innovation. We create what's next by collaborating with our stakeholders and each other. We actively seek to understand diverse voices to further our legacy of innovation and build the future together
» Grit and Perseverance. We are driven to succeed. By aligning employee-owner and shareholder interests, we deliver meaningful results for all stakeholders
» Power of one. As one Deluxe, we celebrate our differences, relentlessly pursuing a culture of inclusivity, diversity, equity and appreciation. We are stronger together because of our individual, authentic selves
© Deluxe Enterprise Operations, LLC., all rights reserved
Brief Company History W.R. Hotchkiss founded Deluxe in 1905 with the simple idea of the checkbook as a way to make portable, easy-to-complete, secure payments. In doing so, Deluxe became the founder of the modern payments ecosystem. In the decade prior to the arrival of our President and CEO, Barry McCarthy, Deluxe aggressively focused on diversification away from the traditional check business to a financial technology business as a means to drive long-term growth. The company completed over 50 acquisitions prior to Barry joining, focused on select, technology-based offerings to sell into our existing customer segments of small businesses and financial institutions
The Company did not pursue true integration of any of the acquisitions made, and as a result, Deluxe was being run like a holding company, or a “company of companies.” A new management team, led by President and CEO Barry McCarthy, implemented our “One Deluxe” strategy, focused on driving sales- driven growth. Uniting the company in this way required obliterating the silos of the past and reorganizing in four new segments:Deluxe has stood the test Payments, Cloud Solutions, Promotional Solutions, and Checks
of time. This is a photo of This new strategy and structure enables us to grow organically andour first true factory, located fulfill our promise as a Trusted Business Technology partner
at 2531 University Ave in Deluxe is headquartered in Shoreview (suburban Saint Paul),Saint Paul, Minnesota. The Minnesota, with significant operations in Kansas City, Atlanta,building came down when and other locations across the world. We employ approximatelya freeway came through, 6,500 employees, primarily in North America. The One Deluxe approach recognizes the strength of our 105-year heritage whilebut the Deluxe spirit and implementing a new strategy to move us aggressively into thecommitment to innovation tech-enabled, high growth, high-multiple Payments and Cloud-lives on. delivered services markets
Putting together all of the pieces of the New Deluxe - clear values and purpose, a clear strategy, solid balance sheet and cash flow, and an accomplished new management team - we are confident we will deliver consistent, long-term revenue growth and shareholder value
To learn more visit deluxe.com© Deluxe Enterprise Operations, LLC., all rights reserved
Deluxe TodayDeluxe began operating in the four exciting, easy-to-understand new segments in the first quarter of2020:Payments is a high growth market. The Deluxe Payments offerings include:» Treasury Management. Deluxe runs a massive scale lockbox operation and is building additional products to support the entire life cycle from order-to-cash
» Digital Payments. Deluxe recently announced the Medical Payment Exchange, and our digital disbursement products called Deluxe Payments Exchange. These products digitize many of the use cases remaining for paper checks. This is a natural place for us to reinvent Deluxe
» Small Business Cash Management. Deluxe offers end-to-end cash management tools for a small business, and we recently announced a relationship with Fiserv to provide credit card acceptance to our small business customers. Other relationships with companies to support funding are in the works
» Payroll for Small Business. Deluxe has the leading payroll solution for small businesses targeted at the low end of the market with millions of potential customers generally ignored by the biggest players
Cloud Solutions is also a high growth market. The Deluxe suite of Cloud and software as a service(SaaS) solutions that help businesses of all sizes across the business life cycle include:» Data Driven Marketing. Deluxe offers full-service and omni-channel data-driven marketing solutions for both B2B and B2C segments on both pay-for-service and pay-for-performance models. Major financial institutions are customers
» Web Hosting. Deluxe offers a complete suite of online commerce and web presence services for small and mid-sized businesses, hosting over 4.5 million websites
» SaaS. Deluxe offers a suite of solutions across the entire life cycle of a small business from cloud- based incorporation services, logo design, do-it-yourself (DIY) and do-it-for-me (DIFM) web design models, digital marketing, logo design, web design and more
Promotional Solutions provide predictable revenue primarily selling to small businesses, butincreasingly to large enterprises as well. The Deluxe Promotional Solutions include:» Forms and Business Essentials. Deluxe produces custom forms for a variety of industries that are essential for their business operation. We are also a leading producer of other business essential items, including envelopes, business cards, stationery and secure documents
» Omni-Channel Retailer. Deluxe offers all of its solutions through multiple channels, much like a retailer
© Deluxe Enterprise Operations, LLC., all rights reserved
» Branded Merchandise. Deluxe can imprint a logo on virtually any product from low value pens to ultra-luxury custom embroidery. We provide these solutions one-off, or as part of massive turnkey programs. For example, we are the turnkey partner for Mazda Motors USA for in-store merchandise, promotion and Mazda Motor Racing
The Checks segment is in permanent secular decline but offers outstanding margins and cash flow tosupport our expansion elsewhere. We continue to invest and innovate in the space, allowing us to winmarket share. Our offerings include:» Personal Checks. Deluxe distributes its product primarily through Financial Institutions who offer our product to their customers. A portion of this revenue is achieved selling to consumers directly via a number of web properties
» Business Checks. Deluxe offers a variety of products for payments needs that cannot be handled in other ways
© Deluxe Enterprise Operations, LLC., all rights reserved
WebDeluxe recently announced the Medical Payment Exchange, and our digital disbursement products called Deluxe Payments Exchange. These products digitize many of the use cases remaining for paper checks. This is a natural place for us to reinvent Deluxe. » Small Business Cash Management. Deluxe offers end-to-end cash management tools for a small