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Carreker
Corporation Press Release - July
27, 2004
Wells Fargo Purchases Enterprise
Licenses for Three Carreker Image
Solutions
Image Inspector, Image Statements,
and IRD Authoring Solutions to
Leverage Bank’s Earlier
Investment for an Integrated
Solution that Maximizes Its Check
21 Opportunity
DALLAS, TEXAS (July 27, 2004) — Carreker
Corporation (Nasdaq: CANI), a leading
provider of technology and consulting
solutions for the financial industry,
today announced that Wells Fargo
has obtained enterprisewide licenses
for three of Carreker’s check
image solutions. These solutions
will provide important new and standardized
image management capabilities that
can be leveraged across a wide range
of the bank’s existing image
applications.
These three image capabilities – image
quality, image statements, and IRD
management – have been identified
by Wells Fargo as key enterprise
decisions and core components of
their check electronification strategy.
“Our check electronification
strategy, including Check 21, is
to develop an integrated infrastructure
comprising all components of our
vision for servicing our customers.
In deploying these Carreker solutions,
we will move towards that vision
by ensuring image quality at every
key control point in our workflow,
providing our customers with expanded
image statement options, and managing
IRD creation in support of inbound,
outbound, and exceptions workflows,” said
Webb Edwards, President of Wells
Fargo Services.
- Image Quality: It is generally
acknowledged in the industry that
image quality assurance is a central
tool banks will require to mitigate
risk and ensure a superior customer
experience as image exchange gains
acceptance. While cross-industry
groups like the Financial Services
Technology Consortium are defining
general standards for image quality,
Wells Fargo has performed extensive,
large-volume testing, validation,
and performance tuning of Carreker’s
Image Quality Assurance suite,
minimizing false positives without
missing significant quality issues.
As a result, the bank is confident
Carreker’s technology will
address its image quality concerns
and any industry standards that
emerge. Moreover, it can be applied
to image exchange send and receive
files, distributed capture platforms,
and even IRD authoring files, once
again leveraging the bank’s
investment in these solutions.
- Image Statements: Image
exchange creates a new opportunity
for full paper truncation. Wells
plans to accelerate its already
successful statement truncation
program by going enterprise with
Carreker’s highly customizable
statement solution. As a result,
the bank can target account groups
with new statement options while
reducing enclosure statements.
- Image Replacement Documents
(IRDs): Whether or not IRDs
(also known as substitute checks)
become a major component of the
check clearing environment, Wells
foresees a number of key uses
for IRDs, including high-dollar-group-sort
clearings, initial support for
distributed corporate deposit
capture, and exceptions/returns
processing. With Carreker’s
IRD authoring system, Wells is
ensuring that its primary IRD
creation is leveraged throughout
the bank, rather than building
siloed IRD applications.
Said J. D. (Denny) Carreker, chairman
and CEO of Carreker Corporation, “Wells
Fargo’s commitment to standardizing
their Check 21 strategy on our systems
is testimony to our commitment to
be the premier provider of technology
and consulting solutions for the
paper-to- electronic evolution now
well under way. We have a vision
for the payment system of the future,
and we are successfully executing
on it with relationships like this
that leverage the full value of our
separate solutions.”
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.
About Wells Fargo & Company
Wells Fargo & Company is a diversified
financial services company with $420
billon in assets, providing banking,
insurance, investments, mortgage
and consumer finance to more than
23 million customers from more than
6,000 stores and the internet (wellsfargo.com)
across North America and elsewhere
internationally. Wells Fargo Bank,
N.A. is the only “Aaa” – rated
bank in the United States. Visit
Wells Fargo at www.wellsfargo.com <http://www.wellsfargo.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.
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