Aurum Technology Joins CheckClear's Endpoint Exchange Network.

Business Editors

PLANO, Texas--(BUSINESS WIRE)--Sept. 10, 2003

Check Image Exchange Services Will Now Be Available to Prospective Customers and Installed Base of More Than 1,200 Financial Institutions

Aurum Technology(R), a leading provider of information technology-based solutions for Community Banks, Credit Unions and Savings Institutions, today announced its agreement to join CheckClear's Endpoint Exchange Network. Under the terms of the agreement, Aurum will interface to the Endpoint Exchange Network to offer check image exchange, clearing and settlement capabilities to its more than 1,200 financial institution customers - both retail and commercial - located throughout North America.

Aurum's existing and future item processing customers will realize numerous benefits including reduced float, collection fees, and transportation expenses - and most importantly, customers will experience significant productivity gains by eliminating duplicate and burdensome paper-based workflows associated with the capture, balancing, and sorting of checks. Aurum also anticipates that the integration of Endpoint Exchange with Aurum's suite of fraud products will afford its customers greater protection against counterfeit items.

Aurum is an established market leader in check imaging solutions, providing image-based item processing and related back-office support services through its strategic network of 24 service centers located nationwide. Aurum's capabilities extend from prime-pass image capture and archiving through exception handling and end-customer statement rendition.

"As an industry leader in digital check imaging, Aurum has considered check image exchange a strategic priority for some time. And now, with declining paper-check volumes, the pending 'Check 21' legislation, and new industry alternatives such as ACH conversion, the decision to partner with CheckClear's Endpoint Exchange Network clearly meets our objectives," said Paul Bourke, Aurum Technology chairman, chief executive officer and president. "Partnering with exchanges such as Endpoint Exchange Network will allow us to provide our customers with the sizeable efficiency and service-related benefits of truncation and image exchange--faster and with less risk to all parties--especially as these exchanges reach a state of full interoperability."

John Heus, Aurum's senior vice president of payment services added, "The Endpoint Exchange Network's ability to truncate checks at the point of deposit, coupled with their ability to support full interoperability between all industry standard check image exchange formats for the sending and receipt of electronic items, proved key to our decision. As a result of this agreement, we can improve our customers operating efficiencies, while providing a distinct competitive advantage for our customers by eliminating the cost and inefficiencies associated with processing of paper-based payments."

Today, the Endpoint Exchange Network is providing check image exchange services for more than 3,000 financial institutions. Its managed frame-relay network has endpoints in every Federal Reserve District. The Endpoint Exchange Network's use of imaging technology and managed frame relay replace the high costs of trucks and planes to move paper checks.

"We are thrilled to add Aurum Technology to our growing roster of technology solutions providers in the Endpoint Exchange Network," said Mark Craig, General Manager of CheckClear, LLC, the owner and operator of the Endpoint Exchange Network. "The addition of Aurum to our distinguished list of partners builds upon the Endpoint Exchange Network's geographic penetration across the country, which is critical to the success of check image exchange. Aurum will be one of our largest members. Aurum's significant annual item volume and 1,200+ customer locations, together with our existing endpoints, adds tremendous value to our check image exchange model, while promoting the ongoing education of truncation and image exchange and the value of membership in our network."

About CheckClear's Endpoint Exchange Network

Use of CheckClear LLC's Endpoint Exchange Network, based in Oklahoma City, enables U.S. financial institutions to clear their check-based transactions by allowing for the exchange of check images between member banks, thrifts, credit unions, service bureaus, clearinghouses, and the Federal Reserve. Already over 3,000 financial institutions have enrolled in the national network, which is the largest, and only mechanism of its kind in operation. The Endpoint Exchange Network is the country's first and only electronic check clearing network that capitalizes on existing imaging infrastructure and settlement relationships, with the goal of connecting every endpoint in the nation. Learn more about Endpoint Exchange at www.endpointexchange.com.

About Aurum Technology

Aurum Technology Inc. provides open and integrated information technology-based solutions to the financial services industry, with capabilities ranging from Core Solutions to eBanking to Check Imaging to Business Intelligence. Using its more than 30 years of experience and proven suite of products and services, Aurum provides Community Banks, Credit Unions and Savings Institutions with the means to increase efficiencies, grow market share and fortify customer and member relationships. With a nationwide network of 24 image item processing centers and 1,400 professionals, Aurum serves more than 1,200 customers throughout North America, including many of the financial industry's highest performing institutions. More information is available at www.aurumtechnology.com.