| |
Carreker
Corporation Press Release - January
14, 2002
CARREKER RELEASES “NEAR
PAPERLESS” ADJUSTMENTS
SYSTEM
DALLAS (January 14, 2002) — Carreker
Corporation (NASDAQ: CANI), a leading
provider of technology and consulting
solutions for the financial industry,
today announced that Adjustments/Express™,
its third-generation system for automating
virtually the entire back-office
adjustments process, is generally
available and certified for daily
adjustments volumes in excess of
8,000, easily meeting the needs of
the largest financial institutions.
The system’s joint development
with Bank One, First Union (now Wachovia
Corporation), Global Processing Systems,
and another unnamed top10 bank was
undertaken by Check Solutions, which
was acquired by Carreker last year.
Joe Rowell, President of Global
Technology Solutions, Carreker Corporation
and former CEO of Check Solutions,
pointed out how the technology, which
recently exceeded expectations for
functionality, performance, and reliability,
is superior to other adjustments
systems. “With our broad
selection of development partners,
this system is truly a solution designed ‘by
banks for banks’. It is targeted
for today’s “blended” environment:
paper, image, and electronic – and
handles them all. By enabling an
adjustment operator to scan information
into the system, retrieve both image
and microfilm items, and make entries
from all the main sources of adjustment
cases, Adjustments/Express™ delivers
a virtually paperless, “wall-less” environment.
The bottom line…you’re
driving costs down, eliminating errors,
prioritizing cases, speeding up decisions,
reducing float, and optimizing your
workloads.”
Said J. D. (Denny) Carreker, Chairman
and CEO of Carreker Corporation, “The
extraordinary value of this technology
in solving a major problem for our
clients is one of the reasons we
are fortunate to have acquired Check
Solutions. Besides its benefits for
the adjustments function, Adjustments/Express™ will
also, as part of the entire Carreker
line of technology, help clients
establish the value of their payments
leadership as their corporate customers
wrestle with a rapidly changing payments
environment. No other provider offers
that breadth of solutions, plus the
added benefit of our deep consulting
expertise in these functions.”
Adjustments are a costly, labor-intensive
function for banks, involving a variety
of steps (entry, research, information
retrieval, customer communication,
decisioning) required when normal
item processing results in problems,
called “cases,” that
require human intervention and resolution.
According to Bank Administration
Institute, banks paid on average
more than $8 per adjustments case
last year – this in a rapid
processing environment where banks
strive to keep normal per-item costs
in the hundredths of a cent range.
Moreover, adjustments volumes and
complexity are growing as their prime
causes proliferate: dispersion of
capture sites, adjustments centers,
and customers; higher service expectations
of customers; and new payment types
and technologies. By automating more
aspects of the adjustments process, Adjustments/Express™ is
designed to reduce adjustments costs
in the range of 10-40%.
According to Karl Pezdirtz, Senior
Vice President for Strategic Planning
in the Check Solutions Group at Carreker
Corporation, “The adjustments
function is getting harder, not easier,
at a time when banks’ customers
have higher expectations for better
service and faster resolution. Adjustments/Express™ was
designed with our partner banks and
providers to address every step,
every opportunity to make adjustments
activities and employees more productive.
It is that attention to detail, and
then stringent testing, that makes
this technology such a powerful,
reliable tool.”
Also participating in the development
of Adjustments/Express™ were
Lynn Waters of Consulting and Global
Concepts.
About Carreker
Carreker Corporation improves earnings
for financial institutions around
the world. The Company’s integrated
consulting and software solutions
are designed to increase our clients’ revenues
and reduce expenses, while improving
security and increasing the value
of their customer relationships.
Carreker provides products and services
to more than 200 clients in the United
States, Canada, the United Kingdom,
Ireland, Australia, and South Africa,
including 70 of the largest 100 banks
in the United States. Headquartered
in Dallas, Texas since 1978, Carreker
Corporation also has offices in London,
Johannesburg, Toronto, and Sydney.
For more information, visit www.carreker.com
or phone Hal Denton at 972-340-2537.
Forward Looking Statement — This
document contains forward-looking
statements based on current expectations
that are inherently subject to risks
and uncertainties. The words "estimate," "project," "intend," "expect," "believe," "plan" and
similar expressions are intended
to identify forward-looking statements.
The Company's actual results could
differ materially from those currently
anticipated due to a number of factors,
including, but not limited to, risks
associated with the Company’s
acquisition of Check Solutions, changes
in the banking industry’s demand
for the Company’s solutions,
significant customer concentration
and the potential loss of a significant
customer, variations in operating
results, reduction in revenues due
to pricing arrangements, the infrequent
use of long-term contracts with customers,
the focus of the Company's solutions
on e-finance opportunities and the
chance that they will not be accepted
in the marketplace, risks associated
with rapid growth in the Company’s
business, the inability to attract
and retain key personnel, existence
of defects or errors in the Company’s
software, ability to develop new
technologies and services, ability
to meet the changing needs of customers,
dependence on third-party Internet
providers and the Internet, intense
competition, risks associated with
strategic alliances and acquisitions,
inability to protect the Company's
proprietary rights, infringement
and other claims and related expenses,
reliance on third-party licenses,
volatility in the Company's stock
price, exposure to risks associated
with international operations, reliance
on independent contractors, governmental
regulation and legal uncertainties
and anti-takeover provisions in the
Company's charter documents and under
applicable law. These and other factors
are set forth in the Company's annual
report on Form 10-K filed on April
30, 2001 and in other reports and
documents filed by the Company with
the Securities and Exchange Commission
from time to time.
Carreker Corporation Contact:
Hal Denton, Vice President, Marketing
+1 972 340-2537 PH
+1 972 233-7831 FX
Email: hdenton@carreker.com
|
|
