Dennis F. Lynch Joins Collaborative Financial Concepts As Chairman; Former NYCE CEO will Drive Strategy for Innovative Business-to-Business Payments Firm.

WALTHAM, Mass. -- Collaborative Financial Concepts (CFC), the developer of Business Payment Connection SM (BPC), an innovative business-to-business payment solution, announced today that financial and payment industry veteran Dennis F. Lynch has joined CFC as chairman effective September 1, 2005.

Most recently, Mr. Lynch was president and CEO of NYCE Corporation. During his tenure NYCE became one of the largest consumer payment entities in the United States, serving over 2,100 financial institutions at more than one million ATM and retail locations. He was a founding director of the New England-wide Yankee 24 ATM network that was merged into NYCE in 1994, and he was chairman of NYCE for several years and director of NYCE's Network Board.

Prior to NYCE, Mr. Lynch was senior vice president of Fleet Bank, where he was responsible for business development and marketing of self-service products, including ATMs, card products, phone services, and emerging products.

"CFC 's collaborative business payment solution, Business Payment Connection, is being offered by community banks to small and mid-tier businesses to accelerate cash flow to fuel their growth," said Dennis Lynch, chairman of CFC. "All of my instincts tell me it is time for a B2B payments breakthrough, and I see this opportunity to use my professional and personal experiences to assist CFC in bringing this to bear."

Mr. Lynch currently serves on the Board of Open Solutions Inc. (NASDAQ:OPEN), a provider of enabling technology for financial institutions. Mr. Lynch has served on the executive committee and the board of the Electronic Funds Transfer Association (EFTA), and is a past chairman of the Network Executive Council. Additionally, he has served on the boards of directors of the Smart Card Forum and of Everlink, a Canadian transaction processing company. Mr. Lynch was also a member of the board of directors of the United Way of Bergen County, New Jersey.

"CFC's technology provides businesses a viable bank alternative to extending expensive trade credit financing. In effort to broaden the appeal of Business Payment Connection, we realized that we needed a visionary like Dennis to help us take our company and product to the next level," stated Sarsha Adrian, the company's president and founder.

"With Dennis' payments experience and our technology, we create a unique opportunity to execute CFC's strategy for the small and mid-tier business trade credit and payments marketplace."

About Collaborative Financial Concepts

Collaborative Financial Concepts (CFC) is a business-to-business payment company providing technology that enables banks to meet the needs of growing small and mid-tier business customers with an innovative, cost- effective, low-risk, high-reward Internet bank payment solution called Business Payment Connection (BPC). BPC is bank-branded ASP solution offered by banks to relieve the cash flow pressures of their growing business customers.

BPC features a customer-tested, patented, and intuitive dashboard interface and real-time collaborative technology that links sellers with their customers (buyers) through their banks. BPC, available online 24x7, automates and streamlines error-prone payment processes by replacing seller trade credit with bank credit. CFC's senior management is a team of professionals with detailed experience and in-depth understanding of trade credit business practices, banking, regulatory compliance, security, and technology.

For more information about Collaborative Financial Concepts and Business Payment Connection, go to www.colfc.com or call [phone].