CARREKER CORPORATION RELEASES IMAGE INSPECTOR™ SOFTWARE SOLUTION TO ASSURE CHECK IMAGE QUALITY

First Application in Quality Assurance Suite to Facilitate Direct Image Exchange by Detecting, Flagging, and Repairing Images for All Capture Devices

DALLAS (June 24, 2003) — Carreker Corporation (Nasdaq: CANI), a leading provider of technology and consulting solutions for the financial industry, today announced the release of Image Inspector™ software, the first application in its Quality Assurance suite for check image quality.

Image Inspector™ software uses image recognition technology and sophisticated detection algorithms, developed by Carreker, to analyze captured check images and flag and repair suspect items for quality deficiencies beyond those provided by manufacturers of check image camera hardware. It is an open system, designed to inspect images from any capture system, and it runs on standard Windows® platforms.

The quality deficiencies flagged by the system include: missing or unreadable payee lines and amounts, missing image segments (for example, the back of a check), unreadable images (including gel pen writing), images that are too dark or too light, and bad tracking numbers that may indicate an out-of-synch condition. Image Inspector™ software enables image repair through workflow software that tracks the location of the original document and enables the operator to rescan on better resolution equipment, manipulating the image to arrive at a qualified result.

Image Inspector™ software is a critical enabling technology for facilitating direct image exchange among banks and image archive providers. Banks that capture check images can deploy Image Inspector™ software before the images are archived or transmitted to another bank or a customer. Archive providers can use Image Inspector™ software to verify the quality of images they receive from their user banks.

Mary Hockridge, senior vice president for Carreker’s Image Capture, Storage, and Exchange Group, said, “A number of trends have combined to put a premium on the quality of images. Check 21 legislation will stimulate direct image exchange, ultimately replacing paper checks as the primary instrument of presentment. Banks are making greater use of image-based products as a means of competitively distinguishing their offerings, and they are increasingly dependent on images for a greater number of functions like fraud detection, exceptions, research, adjustments, and returns.”

John Carreker, president of Carreker’s Global Payments Technologies, said, “Our clients tell us that as more banks enter the image environment and image usage and retrieval rates climb the integrity of the image archive has to be assured, no matter the source of the image, the operating environment, the capture and scanning devices used, or the use to which the image will be put. We believe Image Inspector™ software will set the industry standard for quality assurance of check images.”

Approximately 50 percent of U.S. check processing volume is being imaged and committed to image archives, and that rate is expected to increase to 90 percent within a few years, according to a survey by Global Concepts Inc. Approximately 50 percent of check images archived today are stored by Carreker applications, either at individual banks or in shared archives.

This initial release of Carreker’s Quality Assurance Suite handles images captured via CPCS or stored in Carreker’s central image repository application. Subsequent releases will inspect images from additional sources like teller files, ATMs, lockbox, image exchange, and other third-party check and payment image capture systems. Image Inspector™ software is the latest of Carreker’s check image applications, which include capture, archive, exceptions, adjustments, returns, CD ROM, statements, online viewing, and fraud detection.

J. D. (Denny) Carreker, chairman and CEO of Carreker Corporation, said, “As the company with the largest footprint in image technology for banks, we understand the importance of filling the image quality assurance gap for our clients. We believe the market’s interest in this product validates the investment we continue to make in providing leading edge image processing technology that helps banks retain and expand their payments business.”

About Carreker Corporation
Carreker Corporation improves earnings for financial institutions around the world. The Company’s integrated consulting and software solutions are designed to increase 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 250 clients in the United States, Canada, the United Kingdom, Ireland, continental Europe, Australia, New Zealand, 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.

Forward Looking Statement
Except for historical information, the statements in this release, including statements regarding the Company’s restatement of its financial statements, the timing of its SEC filings and the Company’s continued listing on Nasdaq, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially, including but not limited to the risks and uncertainties associated with the restatement (which could include material changes in the Company’s financial statements, and volatility in the Company’s common stock price) and related litigation, as well as the risks and uncertainties arising out of economic, competitive, governmental and technological factors affecting the Company’s operations, markets, services, products and prices. For further information concerning certain of these risks and uncertainties, see under the caption “Business – Risk Factors” in the Company’s most recent Form 10-K for the year ended January 31, 2003. We assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.