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Carreker
Corporation Press Release - June
7, 2004
Carreker and BISYS® Announce
Alliance to Resell Carreker’s
NeXGen® Remittance System
Image-enabled single platform
for retail, wholesale, and exception
payments to provide community
banks with state-of-the-art remittance
capabilities for business customers
CHICAGO, ILLINOIS – TAWPI
2004 Conference (June 7, 2004) — Carreker
Corporation (Nasdaq: CANI), a leading
provider of technology and consulting
solutions for the financial industry,
and BISYS (NYSE: BSG), a leading
provider of business process outsourcing
solutions for the financial services
sector, today announced that they
have formed an alliance enabling
BISYS to resell Carreker’s NeXGen
Remittance payments
processing platform to its bank
clients. NeXGen Remittance uses
advanced image workflow and character
recognition technologies to process
retail, wholesale, and exception
payments on a single integrated
platform.
Through leveraging several of Carreker’s
industry-leading payments technologies
into an integrated, low-cost platform,
NeXGen Remittance offers small to
medium-sized institutions a range
of functional capabilities that have
traditionally been limited to the
large bank domain. This solution
supports a wide array of low-speed
to high-speed check capture devices,
provides highly customizable wholesale
remittance processing capabilities,
incorporates Carreker’s best
of breed image recognition and quality
inspection tools, and offers the
latest payment clearing options which
include ACH conversion (ARC), image
exchange, and traditional paper cash
letters.
Bill Neville, president of BISYS
Information Services, said, “This
alliance with Carreker reflects BISYS’ ongoing
commitment to support our clients
with the most innovative imaging
solutions available. Our clients
have expressed a high interest in
elevating their payment-based product
capabilities, particularly as Check
21 further democratizes the payments
landscape. We chose Carreker because
it is a clear leader in this marketplace,
and we are excited about the new
revenue creation and expense saving
opportunities we expect NeXGen Remittance
will generate for our clients.”
John D. Carreker, president of Carreker’s
Global Payments Technologies, said, “We
are very pleased to have BISYS as
a solution partner given its strong
legacy of market awareness and service
excellence. Early enthusiasm among
BISYS’ customers for the NeXGen
Remittance platform is encouraging,
and validates our efforts to leverage
Carreker’s high-end technologies
into new growth markets. We believe
this initiative is a legitimate win-win
opportunity, and our companies are
strongly committed to ensuring that
the alliance remains focused and
value-driven.”
With NeXGen Remittance, BISYS can
help position community banks to
legitimately compete with the increasingly
commoditized remittance offerings
offered by large banks. The solution
is designed to be highly scalable,
supporting daily volumes ranging
from 1,000,000 items to just a few
for high-value wholesale customers
who depend on high-end remittance
capabilities for low volumes.
J. D. (Denny) Carreker, chairman
and CEO of Carreker Corporation said, “This
alliance with BISYS is another success
in our strategy to be the premier
payments provider to financial institutions.
BISYS can significantly expand our
sales potential in a target market
at a time when this market is actively
seeking the best payments solutions
available.”
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,
South Africa, South America, Mexico,
and the Caribbean. 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 has offices in London
and Sydney. For more information,
visit www.carreker.com.
About BISYS
The BISYS Group, Inc. (NYSE: BSG), headquartered
in New York City, provides business
process outsourcing solutions that
enable investment firms, insurance
companies, and banks to capitalize
on convergence by entering new segments
of the financial services industry.
BISYS currently supports more than
22,000 domestic and international
financial institutions and corporate
clients through three business units.
Its Investment Services group provides
administration and distribution services
for approximately 380 clients, representing
more than 2,200 mutual funds, hedge
funds, private equity funds, and
other alternative investment products
with approximately $750 billion in
assets under administration. BISYS'
largest group also provides retirement
services to more than 18,000 companies
in partnership with 40 of the nation's
leading banks and investment management
companies, and offers analytical
research and competitive information
through its Financial Research Corporation
(FRC) subsidiary. Through its Insurance
and Education Services group, BISYS
is the nation's largest independent
distributor of life insurance and
the premier provider of the support
services required to sell traditional
and variable life, long-term care,
disability, and annuity products.
BISYS is also the nation's second
largest independent wholesale distributor
of commercial property/casualty insurance.
This group complements its insurance
distribution services with a comprehensive
compliance management solution that
supports insurance and investment
firms and professionals with approximately
350 certification and continuing
education training courses, and a
sophisticated suite of products and
services that automates the entire
licensing process. BISYS' Information
Services group supports approximately
1,450 banks, insurance companies,
and corporations with industry-leading
information processing and imaging
solutions, turnkey asset retention
solutions, and specialized corporate
banking solutions. Additional information
is available at http://www.bisys.com.
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