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Carreker
Corporation Press Release - August
11, 2004
Top 10 U.S. Bank Selects Carreker
Software for Check 21 Image-Enabled
Back Office
Exceptions Express™ and
Inbound Returns Express™ to
Enable Bank to Improve Customer
Service and Reduce ‘Day
2’ Processing Costs in
Preparation for Check 21
DALLAS, TEXAS (August 11,
2004) — Carreker Corporation
(Nasdaq: CANI), a leading provider
of technology and consulting solutions
for the financial industry, announced
today that one of the largest banks
in the U.S. has selected Carreker’s
back office technology for image
enabling the bank’s exceptions
and inbound return item functions,
Exceptions/Express™ and Inbound
Returns/Express™.
Darrell Royal, executive vice president
of Carreker’s Payment Solutions
Group said, “It’s well
understood now that for banks to
attain the most significant benefits
associated with check truncation
and image exchange, they must first
image-enable their traditional, manually-intensive
exceptions and returns functions.
Over time, as they convert these
back office processes and extend
the new image-based services to their
customers, banks are also discovering
them to provide competitive advantage
and new revenue sources.”
He added, “Our client bank
identified an image-enabled back
office as a requisite component of
its Check 21 strategy. From a customer
perspective, the bank gains the opportunity
to improve customer service by accelerating
return items, reducing fraud exposure,
and improving review and decisioning
capabilities. From an operational
perspective, the bank can make a
traditionally labor-intensive and
time critical function more automated
and real-time.”
Carreker’s Exceptions/Express™ image-enables
the entire workflow system for processing
exception items – both paper
and electronic – from all posting
applications for retail, corporate,
and savings accounts. By consolidating
departmental workloads, automating
workflow, and providing immediate
access to the images and data required
to make timely, informed exceptions
decisions, the system eliminates
ancillary tasks associated with the
creation and posting of entries,
pulling and balancing return checks,
qualifying return checks, and posting
entries online.
Carreker’s Inbound Returns/Express™ image-enables
the entire workflow system for processing
inbound return items. By providing
online research facilities that eliminate
manual searches and automatically
providing operators with customer-specific
return procedures, the system reduces
manual labor and ensures a customer-satisfying
interaction. By expediting the flow
of return items, it reduces the return
cycle and corresponding float costs
and offers the potential for fraud
reduction through earlier identification
of suspect items.
J. D. (Denny) Carreker, chairman
and chief executive officer of Carreker
Corporation, said, “We are
extremely pleased to be chosen by
this leading bank to partner in this
crucial step toward the full image
enabling of their payment processing.
In our view of Check 21 and its implications,
in which the banking industry progresses
through a series of “domino” developments,
this client is implementing a cornerstone
application capability here that
will enable and energize a wide range
of downstream benefits related to
image exchange and check truncation.”
In addition to image capture and
archive, Carreker offers software
for image exchange, image replacement
documents (IRDs), image inspection,
image delivery, and back office functions
of research, adjustments, exceptions
and return items. The company is
also a leader in Check 21 Readiness
Education and Check 21 Bank Customer
Awareness.
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.
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