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Carreker Corporation
Press Release - February 3, 2005
Symcor Achieves Major Image Processing
Milestones on Carreker Image Platform
First Bank Now Standardized on Carreker Platform,
Positioned for Customer and Back Office Benefits
MISSISSAUGA, ONTARIO, CANADA
and DALLAS, TEXAS, USA (February
3, 2005) — Symcor Inc., one
of North America’s leaders
in business processing outsourcing
and Carreker Corporation (Nasdaq:
CANI), a leading provider of technology
and consulting solutions for the
financial industry, announced today
that Symcor has achieved major
milestones on Carreker’s
image processing platform.
Symcor recently fully image-enabled
its capture and back office check
handling functions for one of its
major financial institution clients.
This was accomplished on Symcor’s
common platform comprising mainly
Carreker technology – image
capture, adjustments, all transactions
file, bulk file, exceptions, and
return items applications. All of
Symcor’s check processing operations
can now capture images on prime pass
and rely on images rather than paper.
Jon Gudelis, Senior Vice President,
Product Management, Symcor, said, “Through
our partnership with Carreker, we
are pleased to be able to claim a
significant leadership position in
the paper to electronic evolution
that is so critical to our clients’ profitability
and future. Carreker shared our vision
for transforming our massive multi-bank
operation with dramatic improvements
in quality and scale efficiencies.
We achieved 100% prime pass image
capture some time ago. By completely
image enabling our Day 2 operation,
we have positioned our clients to
reap the benefits of image exchange.”
“It is an extraordinary achievement,
given the strong tradition of the
paper check, to have successfully
transitioned from a back office environment
almost entirely driven by paper to
one that is virtually paper free,” added
Wayne Martin, Senior Vice President
Technology Services, Symcor. “The
efficiency impact is striking, but
equally transforming has been the
impact on staff, knowing that they
operate one of the most technologically
advanced check processing platforms.”
Symcor operations are responsible
for processing over 8 million prime
pass items a day, translating into
70% of the Canadian check volume.
John Carreker, President, Global
Payments Technology, Carreker Corporation,
said, “Symcor’s accomplishments
are a model for how Carreker’s
technology and vision can result
in specific, near-term cost and revenue
benefits. In addition, Symcor’s
common platform should facilitate
the rapid integration of new customers
as they seek to extend their services
to the U.S. market.”
J. D. (Denny) Carreker, Chairman
and CEO, Carreker Corporation, said, “The
paper-to-payments transition is still
in the early stages. For banks to
succeed in this environment, they
need providers who can help them
envision the future as well as act
in the present according to varied
timetables. We pride ourselves on
helping the banking industry in the
U.S. and other countries manage that
transition.”
Canadian banks are pursuing an industry-wide
project, led by the Canadian Payments
Association, to modernize the Canadian
check clearing system and enhance
its efficiency through image technology.
Implementation is targeted for 2006.
Similar in objective to the U.S.
Check 21 legislation of 2004, it
is expected to mandate the acceptance
of images, rather than provide for
image replacement documents (IRDs)
as Check 21 does, thus accelerating
Canadian bank image conversions.
About Symcor
As one of North America’s largest
business process outsourcing companies,
Symcor Inc. provides services designed
to transform and enhance its customers’ businesses.
It is an industry leader in physical
and electronic check processing,
payment processing, statement production
and document management. For more
information, please visit www.symcor.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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