Carreker Corporation Press Release - April 1, 2002

DALLAS (April 1,2002) — Carreker Corporation (NASDAQ: CANI), a leading provider of technology and consulting solutions for financial institutions, announced today that Wachovia Corporation, created through the September 1 merger of First Union Corporation and Wachovia Corporation, has implemented Carreker’s new CS Adjustments/Express, a third generation image-based workflow adjustments system, and is in full production at the company’s Wilkesboro, N.C. site.

As one of the original development partners, Wachovia Corporation (formerly First Union Corporation) was selected as the initial installation and Beta test site for the Adjustments/Express system. Last year the system underwent extensive testing and benchmarking and was installed on a test basis at the Wilkesboro site where it was certified to exceed all design points for functionality, performance and reliability. Today, the system is in full production at the company’s Wilkesboro site, with more than 13,000 entries per month into the system. Wachovia will implement this system at its other facilities as an enterprise solution for adjustments processing.

“Serving our customers is a top priority at Wachovia Corporation,” said Maria Cunningham, Vice President and Wachovia’s Mid-Atlantic Adjustments Manager. "This system enables our team to quickly respond to customer issues related to adjustments and to better enhance our customer service.”

The development of Adjustments/Express was a great model for how significant software development projects should be approached. To ensure that Adjustments/Express contained all of the operational and technical efficiencies demanded by the market, Carreker assembled a team of top professionals in adjustments processing, including representatives from four development partner banks: Wachovia Corporation, Global Processing Services, Bank One and a fourth bank. Working closely with Lynn Walters Consulting and Global Concepts, Carreker combined its experience in check processing, image technology and bank operations with that of this highly specialized design group. This team provided both intellectual capital and valuable “hands-on” expertise, helping to create an exceptionally functional adjustments offering that satisfies the needs of banks today and well into the future.

“The development partners and our development team had the luxury of starting from scratch in building an adjustments system that, while building upon proven components, utilized the latest available technology. This approach resulted in the inclusion of the latest operational features and functions most requested by the marketplace,” said Karl Pezdirtz, SVP, Business Planning, Carreker Global Technology Solutions.

"The scalability of this product was a key part of the design,” said Joe Rowell, President, Carreker Global Technology Solutions Division. "Adjustments/Express has been certified to handle volumes in excess of 8,000 adjustments per day, allowing the nations’ largest financial institutions to implement this solution with confidence."

Wachovia will host a site visit and system demonstration for many of the nations major top twenty banks at its Wilkesboro installation on April 3rd and 4th. &#x201CWachovia is extremely excited about the opportunity to present its new adjustments solution to the banking community,” said John Clift, Vice President and Wachovia’s Integrated Support Services Manager. “The responses we have received from our staff associates in each of our sites have been phenomenal. We look forward to sharing the advantages of this product with our peer banks.”

CS Adjustments/Express joins Carreker’s highly successful returns processing applications, CS Exceptions/Express and CS Inbound Returns/Express, in providing the financial industry with the most comprehensive and powerful image-enabled back office workflow products available to the market.

About Wachovia Corporation
Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $330 billion and $28 billion in stockholders' equity at December 31. Wachovia is a leading provider of financial services throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 49 states and global services through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com and firstunion.com.

About Carreker Corporation
Carreker Corporation improves earnings for financial institutions around the world. Our integrated consulting and software solutions are designed to increase our clients’ revenues and reduce their 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. Clients include the full range of community, regional and large banks, among them more than 75 of the largest 100 banks in the United States. Headquartered in Dallas, Texas since 1978, Carreker Corporation also has offices located around the world including London, 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 Contacts:

Hal Denton, Vice President, Marketing
972 340-2537 PH
972 233-7831 FX
Email: hdenton@carreker.com

Terry Gage, Executive Vice President, CFO
972 371-1454 PH
972 458-2567 FX
Email: tgage@carreker.com