Banks Position for Check 21; ITI's Check Imaging Software Breaks Sales Records.

Business Editors

LINCOLN, Neb.--(BUSINESS WIRE)--Feb. 17, 2004

Financial software and services provider Information Technology, Inc. (ITI) has reported that sales of their Director Check Image solution skyrocketed during 2003. A company-record 139 systems were sold to client financial institutions -- an average of 12 sales per month of the check imaging component of ITI's popular Premier Director document management suite.

"Increased savings and better service are the main reasons so many bankers are deciding the time has come to take this important step. An efficient browser has replaced the old fashioned tray of checks when researching exception items," explained ITI Assistant Vice President and Document Management Product Manager Chad Kearns.

"Image-enabled exception management eliminates shuffling checks through the bank for NSF decisions, signature verification and suspicious fraud activity. This saves bank staff time and increases the chances of identifying fraudulent transactions -- major factors that improve the bank's efficiency ratio."

Kearns added that clients deploying this check imaging technology see increased customer satisfaction. "Customers can use Internet banking to view check images the same day the check is posted, without having to wait for the statement or call the bank."

For $732-million BANKFIRST of Sioux Falls, S.D., the Check Clearing for the 21st Century Act, or "Check 21," played a role in their decision to implement a check image solution now. "Because Premier Director provides us with the tools we need to operate in the Check 21 arena, it made good sense to forge ahead with this application," said BANKFIRST Executive Vice President & COO David King. He added that integration was also a major factor, "By integrating with our ITI core account management system and Internet banking solution, we increase our efficiency and ability to offer e-statements and other Internet-related products."

When Check 21 takes effect in October of this year, it will further underscore the importance of imaging technology within the financial industry. "For our bank, it wasn't a question of if we were going to implement a check image solution, it was simply a question of when," explained Bud Dowdy, Executive Vice President & CEO of $120-million The Citizens Bank in Geneva, Ala. "By implementing ITI's check image solution, we've positioned our bank to embrace future trends in electronic processing, especially with the declining use of paper checks."

ITI's Director Check Image utilizes the latest in imaging technology to provide a complete check management system for capturing and electronically storing checks in place of the physical items themselves. Premier Director significantly enhances item processing productivity reducing mailing costs and streamlining item research.

"With ITI's fully integrated Premier architecture, regardless of its size or where it falls on the technology curve, a financial institution can profitably address the full spectrum of the payment process, while providing its customers with powerful solutions," added Kearns.

Information Technology, Inc. (ITI) provides America's bankers an extensive array of technology solutions and support services for core accounting, relationship management, teller and platform automation, Internet banking, account aggregation, e-commerce solutions for business and consumers, business intelligence, imaging and document management. A comprehensive suite of planning, installation, support, training, analysis and consulting services supports all technology solutions. Founded in 1976 and headquartered in Lincoln, Neb., Information Technology has grown to include its subsidiaries Precision Computer Systems (PCS) and eSolutions, as well as partnerships with some of the best-known technology companies in the world. ITI can be found on the Internet at www.itiwnet.com.

ITI is a subsidiary of Fiserv, Inc. (NASDAQ: FISV), a provider of industry leading information management systems and services to the financial industry, including transaction processing, outsourcing and business process outsourcing, as well as software and systems solutions. The company serves more than 14,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $2.3 billion in processing and services revenues for 2002. Fiserv can be found on the Internet at www.fiserv.com.