| |
Carreker
Corporation Press Release - July
15, 2004
Two Leading Banks in the UK and
Ireland License Carreker’s
FraudLink
Carreker Increasingly the
International Industry Standard
for Cheque Fraud Detection
DALLAS, TEXAS (July 15, 2004) — Carreker
Corporation (Nasdaq: CANI), a leading
provider of technology and consulting
solutions for the financial industry,
today announced that two of the leading
banks in the UK and Ireland have
licensed Carreker’s fraud detection
solutions, FraudLink On-Us™ and
FraudLink PC™.
The banks, which chose to guard
their identities for now, bring to
eight the number of UK and Irish
banks using Carreker’s fraud
detection solutions. These include
Bank of Ireland and Allied Irish
Banks, p.l.c.
When these latest two banks deploy
FraudLink™, approximately 350
million cheques a year in the UK
and Ireland will be protected by
FraudLink, which is also used by
more than 120 financial institutions
around the world.
Thomas G. Gordon, senior vice president,
Risk Solutions Group, Carreker, said, “We
are pleased that these latest banks
selected our software with its advanced
analytics as the best system for
protecting their banks. Fraud is
a crime of opportunity, and these
banks have chosen to close that window
of opportunity with proven solutions
for protecting their capital, their
customers, and their reputations.”
J. D. (Denny) Carreker, chairman
and chief executive officer of Carreker
Corporation said, “These latest
agreements confirm our standing as
the overwhelming international leader
in cheque fraud detection. As the
paper to electronic payments evolution
continues, we continue to design
and develop solutions to help banks
manage their evolving payments risk.”
FraudLink uses advanced analytics
of cheque-writing and deposit behaviour
to identify potentially counterfeit
or fraudulent cheques. FraudLink
On-Us™ is a mainframe system
that inspects cheques taken by tellers.
FraudLink PC™ is a PC-based
solution that provides similar protections
for banks with smaller cheque volumes.
FraudLink users typically realise
return on investment in six to twelve
months, reducing fraud losses by
as much as £400,000 a month,
depending on the bank’s cheque
volumes.
As fraud of all types escalates,
attempted cheque fraud is a growing
challenge for banks even while cheque
usage as a percent of payments declines.
According to the Association for
Payments Clearing Service, cheque
counterfeiting and fraudulent alteration
of amount and payee details are increasing
substantially. Additionally, as banks
in the UK and Ireland aggressively
tackle card-related fraud via a chip/pin-based
system, fraudsters can be expected
to target other payment methods such
as cheques and cross-border payments.
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 Americas, Europe, Australia,
Asia, 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.
Forward Looking Statements -
Except for historical information,
the statements in this release,
including statements regarding
future financial performance, contain
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 volatility
in the Company’s common stock
price, 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 “Forward
Looking Statements and Risk Factors” in
the Company’s most recent
Form 10-K for the year ended January
31, 2004. 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.
|
|
