Carreker Increases Market Presence Through Relationship with iPSL, U.K.'S Leading Check Processing Outsourcing Company.

Business Editors/High-Tech Writers

DALLAS--(BUSINESS WIRE)--Dec. 12, 2002

iPSL to Optimize Back Office Operations with Carreker's Exceptions

Express Solution

Carreker Corporation (Nasdaq:CANI), a leading provider of technology and consulting solutions for the financial industry, announced today that Intelligent Processing Solutions Ltd. (iPSL) has purchased Carreker's Exceptions Express(TM) back office solution. The contract is for $2.1 million over the next 18 months.

iPSL was formed as a joint business venture in December 2000 by Unisys and two of the U.K.'s leading retail banks, Lloyds TSB and Barclays Bank, with a third major bank, HSBC, joining the partnership a short time after. iPSL is the U.K.'s leading check processing outsourcing body, handling approximately 70 percent of the country's checks.

"iPSL processes checks for not only its three partner banks, but for many other institutions as well, including Co-Operative Bank, Girobank and parts of the National Australia Group," said Janet Russell, chief operating officer at iPSL. "The complexities associated with migrating all of these legacy processing systems to a common platform presented us with some cost and integration challenges. We turned to Carreker to help us overcome these challenges because of our close working relationship and their best-in-class technology."

J. D. (Denny) Carreker, chairman and CEO of Carreker Corporation, added, "Our relationships with third parties such as iPSL have allowed us to significantly expand our market share internationally. As we continue to develop a stronghold within these markets and bring additional technology solutions to banking customers worldwide, we expect to realize even greater success from such partnerships."

Carreker's Exceptions Express technology will help iPSL achieve specific operational and financial milestones, including system integration and cost reduction. With Carreker's solution, iPSL can further optimize back office processes for all the institutions it services by automating check handling and reducing the number of full-time employees (FTEs) required for its check processing operations.

"More and more, banking organizations are looking to offload specific operational functions within the check supply chain, and the success of iPSL demonstrates the scale and efficiencies that can be achieved with this type of operating model for high-volume payment processing," said John Carreker, Carreker's executive vice president and managing director, international. "We are extremely pleased to expand our technology partnership with iPSL. We see their decision to purchase a second solution from our back office technology suite as a strong testament to the value they have already seen from our Research & Adjustments(TM) back office solution."

About Intelligent Processing Solutions Ltd. (iPSL)

Intelligent Processing Solutions Ltd. is a joint venture between partners Unisys, Lloyds TSB, Barclays, and HSBC, the latter three being three of the U.K.'s leading retail banks. iPSL was formed to help its bank founders reduce the cost of check processing, manage the market transition to electronic payments, and focus on core business and enhanced customer service. In addition, iPSL offers check processing services to other organizations, resulting in a new revenue stream for the partners. With approximately 70 percent of the U.K. check processing market share, iPSL offers its members the benefits of economies of scale, innovative technology, and a clear competitive advantage. The success of iPSL is evidence that similar outsourcing options offer strong potential for banks worldwide. Additional information on the iPSL payment processing outsource organization can be found on the Unisys Web site, at http://www.unisys.com/services/outsourcing/business__process__ outsourcing/payment__processing/intelligent__processing__solutions __limited.htm. (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field.)

About Carreker Corporation

Carreker Corporation improves earnings for financial institutions around the world. The Company's integrated consulting and software solutions are designed to increase clients' revenues and reduce their expenses, while improving security and increasing the value of their customer relationships. Carreker provides products and services to more than 250 clients in the United States, Canada, the United Kingdom, Ireland, Australia, and South Africa. Clients include the full range of community, regional and large banks, among them more than 75 of the largest 100 banks in the United States. Headquartered in Dallas, Texas since 1978, Carreker Corporation also has offices located around the world including London, Toronto, and Sydney. For more information, visit www.carreker.com.

Forward Looking Statement

Except for historical information, the statements in this release, including statements regarding future financial performance, the market for our products and services, and the value of our new contract signings, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially, including but not limited to economic, competitive, governmental and technological factors affecting our operations, markets, services, products and prices. For information concerning these risks and uncertainties, see our most recent Form 10-K. We assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.