Alogent Launches Check 21 Solution Center; Financial Institutions Get Firsthand Look at Image Enabled Check Processing Solutions and Benefits.

Business Editors

ATLANTA--(BUSINESS WIRE)--Dec. 16, 2003

Alogent Corp., a provider of payment transaction processing solutions for global financial institutions, remittance and payment processors, announced the opening of its 10,000 square-foot Check 21 Solution Center at its headquarters in Alpharetta, Georgia. This facility allows financial institutions to view and participate in image-enabled enterprise solution demonstrations and evaluations related to the Check Clearing for the 21st Century Act (Check 21). Financial institutions now can see for themselves how Alogent's paper-to-image transition solutions, including "Straight Through Check Processing(TM)" and inter-bank image and data exchange, can benefit their organization.

"Alogent's Check 21 Solution Center should prove to be a terrific means for banks to see check imaging in action. Banks are able to gain firsthand experience in creating efficiencies and streamlining workflow processes," Alenka Grealish, a senior analyst at Celent Communications, said. "The Center will hit home the immense value of implementing image-based solutions and enabling early truncation."

"The interest spurred by Check 21 legislation and Alogent's reputation for excellence in image-based solutions have made it an imperative for us to offer an on-demand demonstration facility, where bankers can formulate strategies that extend beyond the immediate needs of Check 21," said Vijay Balakrishnan, executive vice president of marketing at Alogent. "Bankers can see for themselves a range of alternatives that can help them transition from today's paper based environment to full check truncation and image exchange, at a pace of their choice."

The Check 21 Solution center features Alogent's Sierra Xpedite, Sierra Xchange, and Sierra Clearing solutions integrated with the banking industry's top item processing platforms, including IBM CPCS. The center also features check reader sorters and point of presentment MICR and image scanners from leading vendors.

Jeanne Capachin, corporate banking research director at Financial Insights, said, "Check 21 is going to have a profound impact on banks and their front, middle, and back-office environments. Although there is still more uncertainty than certainty about how this will play out, banks need to work right now to make sure they are prepared for the legislation."

The Check 21 Solution Center is designed to help financial institutions understand the benefits of integrated solutions that provide a gradual paper to electronic transformation. Bankers can observe how Sierra Xpedite(R) reduces work and improves quality at the branch and other points of presentment through extensible deposit automation(TM). They can also see how the workflow from Sierra Xpedite through Sierra(R) Xchange(TM) at the center results in significant cost savings by capturing image and data earlier, which collapses processing timelines, truncates paper, and reduces transportation costs. Check images and data across all points of presentment are captured and processed by Sierra Xchange as part of Straight Through Check Processing(TM). In addition, the inter-bank data and image exchange capabilities of Sierra Xchange are showcased, including Image Analysis, Virtual Proof of Deposit, Reconciliation and intelligent transaction routing for Image Exchange, ACH conversion, and image replacement document (IRD) creation and printing.

To address the needs of centralized check processing, the Solution Center provides bankers with an opportunity to see the image workflow efficiencies available through Sierra Clearing applications, such as Prime, Reject Repair, and Balancing. These applications are integrated and co-existent with legacy check processing systems, including IBM CPCS, Unisys ICPS, and Tri-Syn SuperMICR.

Recently, Alogent entered into product alliances centered on the successful integration of its products with key hardware and software platforms. At one demonstration facility, financial institutions and technical buyers can weigh the merits of Alogent's image solutions running on a variety of equipment, as well as interfaced to popular teller and item processing software applications. Alogent's industry alliance group includes BancTec, CTS Electronics, Diebold, Digital Check, Data Support Systems, Getronics, Glory, Harland Financial Solutions, IBM, Panini, Seac Banche, Source Technologies, TouchPoint Solutions, and Unisys.

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 suite of Sierra 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 74 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].