Alogent Technology Expected to Process More Than a Billion Payments in the US in 2002.

Business Editors

TAWPI BOOTH #537

ATLANTA--(BUSINESS WIRE)--Aug. 5, 2002

Remittance transactions up 20% from previous year

Alogent Corp., a developer of payment transaction processing solutions for global financial institutions and remittance processors, announced its Sierra Clearing technology is on track to process more than 1.1 billion bill payments in 2002.

This represents an increase of 20 percent from last year's transaction volume. Sierra Clearing is Alogent's accelerated item processing solution for high-volume, central processing environments. In remittance processing, its item capture technology is used to optimize document transport operation in large, centralized remittance processing facilities.

"This milestone demonstrates the robustness of the item capture technology inherent in our Sierra Clearing product," said Alogent vice president of product management Amar Verma. "Alogent's open architecture technology is designed to accelerate throughput and boost accuracy for high volume, high speed item transports in large central remittance processing operations. The billion plus landmark includes deployments at some of the largest billers in the United States."

Alogent's open technology includes the following capabilities:

-- Flexibility that allows user configurable business rules and workflows, eliminating the lead times and costs associated with custom programming.

-- Transport independence that allows optimal operation of a wide range of item capture transports using the same software platform. This alleviates the need to maintain multiple software products to drive capture devices.

-- Accuracy that leverages patent pending data matching technology merging MICR, OCR, and image for unmatched data read rates. This combination even ensures accurate handling of poorly encoded or non-MICR checks printed on inkjet printers. This reduces the cost and effort of manual data entry and error correction.

Alogent technology is used for remittance processing at utilities, telecom and cable companies across the continental United States. Sierra Clearing also is the core software platform for the outsource item processing conglomerate Intelligent Processing Solutions Limited (iPSL), which processes nearly 70 percent of all checks in the United Kingdom.

About Alogent

Alogent develops and delivers open-architecture item processing software to banks, billers, and payment processors who want to make payment processing more efficient and more profitable. Alogent specializes in high speed, high-volume transaction processing on a server-based platform that processes both paper and electronic payments. Alogent's solutions for front office deposit automation and accelerated central item processing are scalable, and based on the Microsoft Windows, SQL Server, DNA and XML architecture.

For additional information, please visit the company's Web site at www.alogent.com, or contact Alogent at these locations: U.S. Headquarters: 4005 Windward Plaza, Second Floor, Alpharetta, GA 30005; Ph: 770.752.6400; Fax: [phone] or UK/EMEA Sales & Support: 9th Floor, St. Alphage House, 2 Fore St, London EC2Y 5DA England; Ph: [phone]; Fax: [phone].