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Carreker
Corporation
Press Release
- July 25,
2005
US Billing Selects Carreker’s
NeXGen® Remittance Processing
Solution to Streamline Operations
and Automate Manual Processes
Image-enabled platform to provide
US Billing with state-of-the-art
remittance capabilities
at a substantially lower cost
BALTIMORE,
MARYLAND – TAWPI
2005 Conference (July 25, 2005) — Carreker
Corporation (Nasdaq: CANI), a leading
provider of technology and consulting
solutions for the financial industry,
today announced that US Billing,
one of the largest third party
processors of remittances for non-profit
organizations as well as other
corporate and community entities,
has licensed Carreker’s NeXGen® Remittance payments
processing platform. NeXGen Remittance
allows US Billing to streamline
operations and automate its manual
remittance processes.
NeXGen Remittance, which uses
advanced image workflow and character
recognition technologies to process
retail, wholesale, and exception
payments on a single integrated
platform, offers small to medium-sized
institutions and companies a range
of functional capabilities that
have traditionally been limited
to the large bank domain. The solution
supports a wide array of low-speed
to high-speed check capture devices,
provides highly customizable retail
and wholesale remittance processing
capabilities, incorporates Carreker’s
best of breed image recognition
and quality inspection tools, and
offers the latest payment clearing
options which include Automated
Clearing House (ACH) and Accounts
Receivable Conversion (ARC), image
exchange, and traditional paper
cash letters.
US Billing processes and mails
millions of customer statements
for some of North America’s
most recognized organizations.
They also provide lockbox services
to these same organizations, processing
millions of lockbox payments annually.
“We have several hundred
customers, all with different banking
relationships. So our requirements
were unique - we needed an advanced
remittance processing solution
that would allow us to endorse
each of our customers’ checks
with the routing number of the
bank at which they would be deposited,” said
John Bernhoft, president, US Billing. “In
addition to providing us with this
capability, Carreker’s NeXGen
remittance solution allows us to
completely automate our remittance
environment, which was previously
a manual, labor intensive process.”
Bernhoft added, “NeXGen
remittance also provides us with
a scalable and configurable solution
that will allow us to easily add
new customers in a matter of hours.
Additionally, the solution will
allow us to easily transition our
operations as we convert check
payments into ARC.”
John Carreker, president of Carreker’s
Global Payments Technologies, said, “US
Billing has successfully built
its business by offering superior
processing services to a very niche
customer base. Our image-enabled,
cost effective NeXGen Remittance
solution allows them to offer their
customers an even higher level
of service through improved processing
efficiency and increased accuracy.”
With NeXGen Remittance, US Billing
can successfully compete with the
increasingly commoditized remittance
offerings that have traditionally
been offered by large and mid-sized
banks. The solution is designed
to be highly scalable, supporting
daily volumes ranging from 1,000,000
transactions to just a few for
high-value customers who depend
on high-end remittance capabilities
for low volumes.
J. D. (Denny) Carreker, chairman
and CEO of Carreker Corporation
said, “As imaging and electronification
continue to become more prevalent
in the payments industry, non-banks
as well as banks are looking for
proven solutions providers who
can help them maximize productivity,
reduce costs and expand revenue
opportunities. We’re delighted
that US Billing has chosen our
NeXGen Remittance solution to help
them with their processing needs
as they transition into an image-enabled
and ACH environment.”
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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