Bank Technology News Names Memento a Top Innovator of 2008.

Memento Security recognized for its next-generation data management and fraud detection capabilities

CONCORD, Mass. -- Memento, Inc., a leader in enterprise fraud management, today announced that it has been named one of The Innovators 2008 by Bank Technology News. Memento was recognized for the advanced data management and fraud detection capabilities in Memento Security 4.0, its flagship enterprise fraud management platform.

The Innovators is an annual ranking which profiles the 25 most advanced people, companies and technologies whose contributions to the financial industry are redefining how businesses operate and how they are uncovering new business opportunities. Out of more than 200 companies that were evaluated as finalists, Bank Technology News named 25 as Innovators for their progressive use of technology to drive business results, secure the enterprise and achieve economies of scale.

Memento Security employs next generation data management technology to aggregate and analyze massive volumes of data - hundreds of millions of transactions per day in some cases. These techniques offer banks a far more flexible, scalable and accurate approach to mitigating risk and preventing loss than legacy approaches. Memento Security is used by some of the largest and most influential financial institutions in the world, including six of the top fifteen banks in North America.

"As institutions focus more of their innovation and spending on robust, firm wide IT initiatives, technologies like Memento Security 4.0 will prove advantageous to IT and information security teams as they look to combat fraud at the enterprise level," said Holly Sraeel, editorial director of Bank Technology News. "Such innovation is assisting financial institutions in moving from a defensive posture to one that can help them utilize data management technology to proactively analyze and learn from large volumes of transaction data."

"Many fraud detection systems are out of date the day they go live, because fraudsters have already moved onto the next scheme," said BC Krishna, CEO and President of Memento. "In contrast to rigid and expensive legacy systems, Memento's approach gives our customers the flexibility and accuracy they demand in order to stay ahead in the fight against fraud."

Additional information and the complete list of 2008 Innovators is featured in the November 2008 issue of Bank Technology News, and can be viewed at www.banktechnews.com.

About Memento

Memento, Inc. (www.mementosecurity.com) is a recognized leader in enterprise fraud management. Memento Security - the company's award-winning solution - is an innovative platform for monitoring, detecting, and investigating fraud and inappropriate activities by a wide range of fraudsters, from trusted insiders to criminal outsiders. Used by the world's largest and most influential financial institutions, Memento solutions are business-focused, easy to use, and quick to implement. By detecting inappropriate activities early and precisely, Memento gives enterprises the information they need to prevent loss, protect revenue and mitigate risk.