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Carreker
Corporation Press Release - July
7, 2004
Carreker Corporation Selects
ScanSoft OmniPage Capture SDK for
Payee Name Verification Solution
Award-winning OCR Solution
Selected to Maintain Security
and Fraud Protection for Corporations
and
Financial Institutions
DALLAS, Tx. and PEABODY, Mass.,
July 7, 2004 2004 – ScanSoft,
Inc. (Nasdaq: SSFT), the global
leader of speech and imaging solutions,
and Carreker Corporation (Nasdaq:
CANI), a leading provider of technology
and consulting solutions for the
financial services industry, today
announced that Carreker has included
the ScanSoft® OmniPage® Capture
Software Development Kit (SDK)
with its Payee Name Verification
(PNV) solution, which adds additional
security to financial institutions
by identifying possible payee name
alterations and flagging suspect
items for further investigation,
significantly reducing the risk
of fraudulent checks and enhancing
positive pay systems for institutions
who use them.
Many organizations and financial
institutions rely on positive pay
systems to protect their account-drawn
checks from being counterfeited or
altered by providing corporations
with a check issue file, containing
the natural elements of the check
to be matched within. While these
systems detect alterations and fraud
applied to many elements of a check,
including check number and amount,
most do not match payee name with
the intended recipient, creating
a glaring loophole for potential
fraud. Combining ScanSoft’s
sophisticated OCR technology with
Carreker’s own proprietary
OCR expertise, Carreker’s image-based
PNV solution closes this gap, and
quickly and effortlessly matches
payee name with the information on
file – virtually eliminating
check fraud for positive pay customers.
In addition to detecting payee name
alterations, Carreker’s PNV
is an easy-to-implement software
solution that offers banks a number
of additional benefits including
fraud detection for an Image Replacement
Document (IRD) or image environment
and increased efficiency and reduced
false positives through complete
automation of the check review process.
ScanSoft’s Capture Development
System allows Carreker to quickly
add the new recognition capabilities
to its software application, significantly
speeding time-to-market while lowering
development costs.
“In our continuing quest to
provide best of class solutions,
ScanSoft’s complementary, advanced
imaging capabilities allow us to
offer even more fraud protection
for our positive pay clients,” said
Thomas G. Gordon, senior vice president,
Risk Solutions Group, Carreker. “Our
Payee Name Verification solution
provides our customers with a simple,
cost-effective solution that is both
affordable and reliable. ScanSoft’s
technology is extremely accurate,
and affords our clients a high level
of confidence that their transactions
are protected.”
“The agreement with Carreker
demonstrates how OCR can offer customers
significant time and cost savings – and,
as in this case, be the cornerstone
for a host of critical solutions,” said
Robert Weideman, senior vice president,
ScanSoft Productivity Applications. “It’s
clear that there is a new generation
of OCR solutions – well beyond
simple scanning and document capture – that
are moving into the realm of critical
business applications with significant
impact, in both enterprise and real-world
applications.”
About ScanSoft OmniPage Capture
SDK
Designed for optimal 32-bit application
development, the ScanSoft OmniPage
Capture SDK is everything a developer
needs to quickly add sophisticated
imaging, recognition and PDF capabilities
to commercial and in-house software
applications and is used in the leading
commercial applications that support
imaging and OCR, including Autodesk
Raster Design, Canon imageWARE, Cardiff
TELEform, FileNET Panagon Capture,
Kofax Ascent Capture, Microsoft Office
XP, Microsoft SharePoint.
About ScanSoft, Inc.
ScanSoft, Inc. (Nasdaq: SSFT) is
the global leader of speech and
imaging solutions that are used
to automate a wide range of manual
processes – saving time,
increasing worker productivity
and improving customer service.
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.
Trademark reference:
ScanSoft and OmniPage are trademarks
or registered trademarks of ScanSoft,
Inc. and/or its subsidiaries in
the United States and other countries.
All other company names and products
names mentioned may be to the trademarks
of their respective owners.
This press release may contain statements
related to future events and expectations
and, as such, may constitute forward-looking
statements. These forward-looking
statements are subject to known and
unknown risks, uncertainties and
other factors that may cause actual
results, performance or achievements
of ScanSoft to be different from
those expressed or implied above.
ScanSoft expressly disclaims any
duty to update or revise forward-looking
statements. The risks and uncertainties
that forward-looking statements are
subject to include, but are not limited
to, the effect of governmental regulations,
the economy, competition and other
risks detailed from time to time
in the "Management's Discussion and
Analysis" section of ScanSoft’s
Form 10-K and other reports and filings
with the Securities and Exchange
Commission.
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