Alogent Announces Strategic Partnership with Glory; Product-Based Alliance Positions Cash Vault Operations for Deposit Automation and Check 21.

Business Editors

ATLANTA--(BUSINESS WIRE)--Nov. 13, 2003

Alogent, a provider of payment transaction processing solutions for global financial institutions, remittance and payment processors, announced a partnership with Glory, Inc., an international provider of cash vault and bank branch optimization solutions. The strategic partnership will integrate Alogent's Sierra Xpedite(R) with Glory's VAS (Vault Automation System), to present an open architecture vault automation solution.

Historically, because banks centralize proof and encoding operations, checks were not particularly welcome at cash vaults. According to Alogent and Glory, legislation and superior technology offerings are changing the strategic focus in item processing. The integrated Sierra Xpedite/Glory VAS solution applies Alogent's expertise in image workflow based check processing with Glory's expertise in cash vault automation to produce a sophisticated vault automation solution for both cash and checks. Using captured check images at either the vault teller front- or back-counters, Sierra Xpedite corrects, balances and manages check deposits alongside Glory VAS's cash-centric vault management. The result is balanced deposits within the vault and single point inquiry for all media.

"Increasingly, banks are exploring ways to process checks more efficiently and effectively; Check 21 legislation has banks re-thinking check operations and retail infrastructures alike," said Robert Coyan, director of business development at Alogent. "Compared to branch locations and ATMs, vaults handle significantly higher deposit volumes per location, making them high-leverage points of automation. The integration of Sierra Xpedite with cash vault applications allows all transactions to be proved and balanced before leaving the vault. This means that vaults can provide item-level accountability and single-point inquiry for all media, cash and checks, while enhancing processing within vault operations."

The integration of these products will improve processing accuracy and efficiency and significantly reduce operational costs. The capture and use of images at the cash vault removes much of the time dedicated to delivering paper documents throughout the day. The combined solutions truncate cash tickets and adjustment tickets and save money by physically moving less paper. Courier trips may be combined at remote vault locations, saving transportation costs and time. After Check 21 enactment, checks may be truncated at remote vaults, completely eliminating the need to move paper at all.

"We are pleased to be working with Alogent to provide our customers a Check 21 solution," said James Reinertson, cash vault market manager for Glory USA. Sierra Xpedite captures, validates and automatically balances transactions at points of presentment, using check images, character recognition and MICR data, facilitating real-time proof of deposit. The product can also accommodate matching, encoding and automated reconciliation of all or some checks in today's "paper to follow" world. The software reduces workload, and improves productivity, while improving quality and enabling faster funds recognition through early posting.

Glory's VAS supports the needs of commercial deposit and envelope processing as well as the sophisticated requirements of ATM exchange and residual processing. Its open architecture enables easy transfer of account and customer order data into VAS as well as provides easy transfer of processing information from VAS to other systems. It also provides multiple methods for extracting processing information for use in other systems. VAS systems may be configured to reflect specific needs, from a single stand-alone processing station to multiple client/server systems that connect numerous systems in multiple locations via a wide area network (WAN).

About Alogent

Alogent is a financial services technology company with proven global success in providing payment processing solutions that enable banks, billers and outsource processors to reduce costs, accelerate timelines and improve quality in check and item processing.

Alogent's solutions help banks adapt to Check 21, check truncation and paper-to-electronic transformation. They include solutions for deposit automation, image based centralized item processing, image exchange and the unique Straight Through Check Processing(TM).

Alogent products process over a billion transactions a year in the U.S., and the company provides the platform that processes 70 percent of all checks written in the UK. Alogent's solutions are being deployed to the largest deposit automation implementations in the world. Alogent brings proven credibility and leadership to help global customers address mission-critical challenges. For more information about Alogent's solutions, visit www.alogent.com.

For more information about Alogent in the USA, write 4005 Windward Plaza, Second Floor, Alpharetta, GA 30005; phone [phone]; toll free 888.333.6030; fax [phone] or email [e-mail]. For sales in the UK, phone [phone]; fax: [phone] or email [e-mail].

About Glory

Glory is a reputable manufacturer of money handling systems providing solutions to meet the needs of the cash handling industry for more then 80 years. Its long tradition, credibility and achievements are playing important roles in financial institutions and other markets throughout the world.

Glory's leadership and experience can be found in each of our products. Glory (USA) Inc. takes pride in representing Glory products. Businesses today are faced with many new issues, and Glory's goal is to match its solutions to those needs. Glory products in U.S. cash vaults process more than $750 million daily. Glory's currency counting and dispensing products are installed in thousands of banking retail sites throughout the United States.

For more information on Glory write 10 York Ave., West Caldwell, N.J. 07006; phone [phone] or fax [phone].