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BB&T Selects Carreker’s
IRD Author™ Solution for Generation
of Print- Ready, Check 21 Compliant
IRDs
DALLAS, TEXAS (January 09, 2006) — Carreker
Corporation (Nasdaq: CANI), a leading
provider of technology and consulting
solutions for the financial industry,
today announced that BB&T Corp.,
the nation’s ninth largest
financial holding company with $107.1
billion in assets, has selected Carreker’s
IRD Author™ solution to generate
and process print-ready, Check 21
compliant image replacement documents,
or IRDs.
Following the enactment of the Check
Clearing Act for the 21st Century
(Check 21) in October, 2004, banks
are no longer required to have access
to original checks for collection
and settlement, but can now use substitute
checks, also known as IRDs. Carreker’s
IRD Author™ allows BB&T
to generate IRD files that can be
printed locally or transmitted for
remote printing and present them
to banks that cannot receive images. IRD
files are prepared with the necessary
supporting documents and reports,
collated as necessary, for efficient
handling within the item processing
workflow.
Designed in partnership with leading
financial institutions, IRD Author
supports the full range of check
handling processes including forward
presentment, outgoing returns and
incoming returns. It can address
IRD requests from multiple sources,
including forward check capture,
distributed capture points and both
inbound and outbound returns systems.
John Carreker, president, Global
Payment Technologies, Carreker, said, “BB&T
has emerged as one of the clear leaders
in the early stages of the payments
industry’s transformation from
paper to electronics. Part
of their imaging strategy called
for IRD production at several points
in their check processing operation – so
they were in need of a flexible solution
that could support several IRD-related
work types. IRD Author not
only provides BB&T with this
flexibility, but it also allows the
organization to instantly benefit
from some of the intended opportunities
of Check 21 including reduced paper
handling and lower transportation
costs.”
J.D. (Denny) Carreker, chairman
and CEO, Carreker said, “As
the industry continues its transition
to electronification, IRDs are playing
an important role in bridging the
gap between banks such as BB&T
with imaging capabilities and those
without. Our IRD Author solution
can help banks of all sizes streamline
their imaging and IRD environments
and begin reaping immediate benefits
through more efficient operations
and reduced costs.”
The Federal Reserve
is currently printing about 1.8 million
IRDs a day using Carreker’s
software.
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.
About BB&T
Corporation
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,
consumer finance, treasury services,
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 $107.1 billion in assets,
BB&T Corp. is the nation’s
ninth largest financial holding company.
More information about BB&T Corp.
is available at www.BBandT.com. |
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