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Wachovia Engages Carreker
to Deploy PaymentsLink™ to Support
Payments Decision-Making
Enterprise Payments Model Helps
Banks Navigate the Payment System
Evolution Profitably
DALLAS, Oct 13, 2005 /PRNewswire-FirstCall
via COMTEX News Network/ -- Carreker
Corporation (Nasdaq: CANI), a leading
provider of technology and consulting
solutions for the financial industry,
announced that Wachovia, the fourth
largest U.S. banking holding company,
has contracted with Carreker Corporation's
Global Payments Consulting (GPC)
to deploy PaymentsLink(TM), an enterprise
payments financial modeling tool.
PaymentsLink is a Web-based tool
for modeling the enterprise P&L
impact of payment-related trends,
strategies, and initiatives across
the enterprise at the product, customer,
account, and transaction level.
Don MacLeod, executive vice president
and director of payment strategies
for Wachovia, said, "We chose
Carreker's PaymentsLink because it
provides us with a robust tool that
can manipulate large amounts of data
to determine the profitability of
our cross-organizational payment
business and assess the impact of
changing trends to the bottom line.
The sophistication of this model
will give us insights to make more
informed payment decisions."
For large banks, payments can represent
30 to 40 percent of their revenue.
This revenue is vulnerable as check
payments are increasingly electronified.
At the same time, banks must satisfy
customer demand for sometimes costly
payment service innovations that
cross different payment groups within
the bank. As a result, banks must
transition to managing payments as
an enterprise business, a complex
challenge involving myriad decisions
from anticipating customers' future
payments needs to managing down the
cost of paper payments as volumes
diminish. As banks do so, they are
recognizing the need for advanced
analytical tools designed for this
purpose.
Wachovia is at the forefront in
responding to industry changes, having
formed a group under the direction
of MacLeod to develop and manage
a corporate-wide strategy that maximizes
the value of Wachovia's payment business.
As MacLeod said, "Our ultimate
goal is to coordinate business units
throughout the company and ensure
a more cohesive, effective approach
for understanding and managing the
costs of payment infrastructure and
solidifying customer relationships.
PaymentsLink can help us be successful."
Suzette Massie, president of Carreker's
Global Payments Consulting group,
said, "The payments world is
rife with speculation about the when,
how, and what of payments transformation,
but one thing is certain: those who
are winning in the new market are
those who have clarity about their
own unique profiles of cost base,
the customer needs, and payments
infrastructure in order to make decisions
that are based on precision facts,
not industry generalities. Creating
that modeling capability from scratch
is prohibitive for most banks --
for cost reasons and time-to-market
reasons as they race to deliver new
payments products and services. PaymentsLink
shortcuts the effort enabling executives
to move from information to action
at a much more aggressive pace. Wachovia's
investment confirms their intention
to be a leader in the payments business."
PaymentsLink provides five capabilities
for understanding enterprise payments
data:
- Enterprise Impact for detailing
the cost and revenue implications
as payment volumes shift.
- Product view that analyzes
product information across customers,
geographies, or time frames.
- New Product Analysis features
for prediction cost/revenue for
proposed products based on detailed
variations of product specifications.
- Payments Trigger Event settings
for proactively anticipating
and simulating the impact of predicted
events in the payments business.
- Customer/Account Modeling
capability for modeling the impact
of enterprise payments decision
on specific accounts and customers.
J. D. (Denny) Carreker, chairman
and chief executive of Carreker,
said, "U.S. banks are facing
a two-fisted challenge — to integrate
their payments business at a time
when every aspect of that business
is changing in fundamental ways.
This consultative solution, which
we began developing and deploying
as soon as we recognized the convergence
in payments, is another example of
how our deep expertise in payments
is helping our clients manage change
profitably."
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 http://www.carreker.com .
SOURCE Carreker Corporation
Ann Cain, Strategic Communications
Director, +1-972-371-1748, or acain@carreker.com
or
Lisa Peterson, Chief Financial Officer,
+1-972-371-1454, or lpeterson@carreker.com
both of Carreker Corporation
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