Benchmark Technology Group Unveils Bond Redeemer and OFACcheck; Applications Accelerate Bond Redemption Process and Simplify OFAC Compliance.

ORLANDO, Fla. -- Benchmark Technology Group, a leading provider of branch automation solutions for financial institutions, announced at the 28th annual BAI TransPay Conference and Expo the release of Bond Redeemer and OFACcheck, which will be featured at booth #406, Panini North America. Bond Redeemer, an automatic U.S. Savings Bond redemption system for financial institutions, helps prevent fraud and significantly speeds up redemption processes by using check scanning technology. OFACcheck, an Office of Foreign Asset Control (OFAC) compliance module, has the ability to check identification in every aspect of banking practices.

According to Benchmark Technology Group, Bond Redeemer enables banks to reduce bond valuation and redemption time by more than 80 percent, through the use of scanning technology being deployed by banks for Check 21 applications. Using magnetic ink character recognition (MICR) and optical character recognition (OCR), the product reads and validates the denomination, serial number and date automatically. By retrieving accumulated interest from the U.S. Treasury Department database, Bond Redeemer determines the interest earned and total value of the bond. A detailed report of the bond series, value, serial number, date and interest earned is produced.

"Benchmark Technology Group - along with customer feedback - built Bond Redeemer from the fraud detection and scanning capabilities of its Check 21 product," said Jack Malinowski, CTO of Benchmark Technology Group. "Our bond redemption product simplifies a labor-intensive process and significantly improves customer satisfaction. This process innovation has been well received by banks with moderate bond volumes and customers who seek the value of their savings bond portfolio on a regular basis. Bond Redeemer is a minor investment for banks, and almost negligible if they are already considering Check 21."

OFACcheck provides banks with a simple and inexpensive means of complying with OFAC requirements by searching names, address, programs or remark information. Any database matches are instantly returned, saved and logged for compliance follow-up, event-tracking and reporting. OFACcheck prints hits for compliance review and is automatically updated on OFAC requirements.

"OFAC requirements are evolving, so we designed OFACcheck as an inexpensive plug-in to simplify the process and ensure compliance for financial institutions," said Malinowski. "Not only does OFACcheck adhere to all OFAC requirements, but it also has the ability to integrate with individual bank lists to meet their unique requirements, ensuring there is no variation in internal policies."

Bond Redeemer works with Benchmark Technology Group's STeller(R), teller transaction processing software, which is bundled with Panini's scanning devices, and Proof21, a check imaging and proof solution. Like Bond Redeemer, OFACcheck is capable of working as a stand-alone system or with Benchmark Technology Group's STeller, COMPASS and BSA Navigator.

About Benchmark Technology Group

For more than 20 years, Benchmark Technology Group has been a leading provider of end-to-end branch technology solutions for financial services institutions. The company offers a complete line of branch automation, loss prevention, risk management and deposit automation solutions. Benchmark Technology Group's systems design, integration, implementation and support services include customized and expanded offerings that are customer-centric and scalable.

All Benchmark Technology Group products and services are backed by 24/7 support. The company is headquartered in Alpharetta, Ga. and has seven additional offices throughout the nation. For more information, visit www.Benchmark-US.com.