CARREKER ENTERS AML SPACE WITH FLEXIBLE, MODULAR ADDITION TO CORE™ RISK MANAGEMENT SUITE

Solution Designed to Address Broad Scope of Bank Risk Areas and Strategies

DALLAS, TEXAS (December 8, 2003) — Carreker Corporation (Nasdaq: CANI), a leading provider of technology and consulting solutions for the financial industry, announced the development of CORE AML™ for release in incremental components during 2004. The anti-money laundering software is designed to help banks protect their corporate reputations and their customers from the growing risk of financial criminality and to comply with a growing number of laws and regulations. CORE AML™ is an addition to the company’s product suite CORE (Carreker Online Risk Expert), a comprehensive and flexible risk management platform for financial institutions.

John Carreker, president of Global Payments Technologies, Carreker Corporation, said, “We made sure that our AML tool could be adapted to support each bank’s own operational risk management strategy. While AML compliance requirements are urgent and stringent for banks around the world, they are far from consistent or static. Banks have sharply different AML needs depending on size, structure, market demographics, local rules, and existing technology infrastructure. CORE AML is designed to accommodate those differences and let clients install the functionality they need when they need it.”

Carreker added, “Many banks have been driven to select a single-purpose and costly AML solution. But it is clear that new needs continue to emerge. The laws are evolving, new methods of fraud detection are unfolding, as are new capabilities in customer relationship management. As that happens, the products that have been on the market for the last few years are likely to become inadequate. By accommodating that kind of evolution, CORE AML™ offers our clients a better investment.”

Analysts foresee a significant spend by financial institutions on anti-money laundering solutions. For European banks, for example, Datamonitor predicts a total spend of $4.8 billion between 2002 and 2006 on anti-money laundering compliance and risk management projects. The pressure on banks to prevent money laundering has been driven by a number of laws and regulations, including the USA Patriot Act and Basel II.

J. D. (Denny) Carreker, chairman and CEO of Carreker Corporation, said, “With more than 100 large banks around the world already using our fraud mitigation solutions, the AML space is a natural for us. As the pressure mounts for financial institutions to demonstrate compliance, protect their deposits and reputations, and ensure smooth operations for legitimate customers, we expect banks to turn to their trusted providers, and we in turn will continue to enhance our solutions to meet our clients’ growing needs in this risk management space.”

CORE AML™ is designed to filter transactions and accounts against industry and local blacklists and apply advanced detection techniques that surface suspicious transactions and accounts in both batch and real time. The software will combine transaction data from all types of payments and across multiple payment channels and relationships with available sociological, demographic, product, and service information to produce behavioral and risk profiles for each account. Watch lists will be easily updateable with alerts issued, false positives minimized, and existing databases leveraged.

Carreker’s risk management solutions are marketed in two suites (CORE and FraudLink) and are used by about 100 of the leading banks in the U.S., Australia, Canada, Ireland, South Africa, and the U.K.

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 in London and Sydney. For more information, visit www.carreker.com.

Carreker Forward Looking Statement
Except for historical information, the statements in this release 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 successful implementation of the software, litigation related to the Company’s restatement of its financials, 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.