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Carreker
Corporation Press Release - November
8, 2004
BB&T Payments Subsidiary Creative
Payment Solutions Goes Live with Carreker’s
Source Capture™
Prime Rate Insurance Capturing Images of Checks,
Remittances, and Coupons of 3,000 Payments Per
Day, Transmitting to CPS for Posting and Collection
SAN DIEGO, CALIFORNIA (November 8, 2004) — Carreker
Corporation (Nasdaq: CANI), a leading provider of
technology and consulting solutions for the financial
industry, announced today at the AFP 25th Annual
Conference in San Diego that Creative Payments Solutions
(CPS), the payments processing subsidiary of BB&T,
is in production with Carreker’s Source Capture.
On October 18, 2004, Prime Rate Premium Finance
Corporation, Inc. launched a six-week test of Source
Capture. The Florence, South Carolina company uses
a Panini S120 desktop scanner with the Source Capture
solution to capture incoming premium finance payments,
remittances, and checks – with volumes as high
as 3,000 items per day. The images are transmitted
to CPS in Wilson, North Carolina, for posting and
collecting.
Jay Lingle, president of Prime Rate Premium Finance
Corporation, said, “We are pleased to find
that we can indeed save considerable time and expense
by capturing our payment information more quickly
and getting faster availability of funds. In addition,
access to these images of the payment documents means
that we will be able to deal more expeditiously with
any customer inquiries. This is the kind of advanced
payment technology that we value from our bank.”
Harold Williams, senior vice president, Creative
Payments Solutions, said, “This success with
Prime Rate validates our vision for serving corporate
checking customers by providing them image capture
capabilities at the location of their choice – as
close to their point of payment receipt as possible.
This capability, which we deployed at relatively
low start-up costs, effectively diminishes the geographical
restrictions on banks’ ability to serve corporate
customers.”
With Source Capture, corporations can use low-cost
image scanners to capture images of checks, inspect
the quality of the image captured, create an electronic
deposit, and transmit the check and deposit data
to the bank electronically – rather than physically
transporting checks to various bank branches.
Under Check 21, which took effect on October 28,
2004, banks no longer need access to original checks
for collection and settlement, but can use substitute
checks and images instead. Source Capture will bring
corporate customers substantial benefits of convenience,
consolidation of bank relationships, and lower deposit
processing fees by imaging checks at their own locations.
Future capabilities of Source Capture from Carreker
will include imaging checks at bank remittance, branch,
cash vault and ATM locations.
John Carreker, president of Carreker’s Global
Payments Technologies, said, “CPS’s rapid
deployment of Source Capture and our work with Prime
Rate Insurance are testimony to the solid competitive
advantage CPS has staked out. With the latest in
image technology, they are fulfilling the potential
of Check 21 and related advances in image technology.”
J. D. (Denny) Carreker, chairman and CEO of Carreker
Corporation, said, “One after another, we are
seeing our image-based solutions successfully deployed
by leading banks. With each success, our vision for
helping banks reestablish their leadership in the
payments business is fulfilled. Source Capture is
clearly one of the most attractive tactics, as it
can quickly and inexpensively create high value for
banks’ corporate clients.”
At the AFP 25th Annual Conference
Carreker’s Source Capture solution will be
demonstrated at the AFP 25th Annual Conference in
San Diego, November 7-10, 2004. Visit the Carreker
booth, number 1912, or the CPS booth, number 2018,
for more information.
About BB&T
Winston-Salem, N.C.-based BB&T Corporation (NYSE:
BBT) and its subsidiaries offer full-service commercial
and retail banking and additional financial services
such as insurance, investments, retail brokerage,
corporate finance, international banking, leasing
and trust. BB&T operates more than 1,400 financial
centers in the Carolinas, Virginia, Maryland, West
Virginia, Kentucky, Tennessee, Georgia, Florida,
Alabama, Indiana and Washington, D.C. With more than
$97 billion in assets, BB&T Corp. is the nation’s
ninth largest financial holding company (including
pending acquisitions). It is the top financial services
company in the nation based on “customer advocacy,” according
to national consulting firm Forrester Research Inc.
More information is available at www.BBandT.com.
About Creative Payment Solutions
Creative Payment Solutions (CPS) is a wholly-owned
payments processing subsidiary of BB&T Corporation.
Established in 2003, CPS has been focused on developing
electronic payments products that allow corporate
clients to take advantage of the efficiencies of
emerging payments in both the ACH and ATM networks.
CPS is committed to providing these utilities in
a manner that allows the financial institution
to maintain its brand and relationship with their
client. For more information, visit www.creativepaymentsolutions.com
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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