ERAS Implements First Image Clearings System In Mexico; CECOBAN Experiences Successful Completion During First Six Months of Live Operations.

Business Editors

MIAMI & NEW ORLEANS--(BUSINESS WIRE)--Nov. 19, 2003

ERAS, an international bank software and solutions development company for the financial services industry, has been selected by CECOBAN, the official processing arm of the Central Bank of Mexico, to drive the first browser-based image clearing system for transmitting check items in Mexico. Using ERAS' iPOD software, over half a million checks per day are exchanged digitally nationwide.

In an effort to overcome logistics challenges, reduce costs and modernize the Mexican banking system, CECOBAN, a processing entity of 34 banks in Mexico, selected ERAS' iPOD and iPOD/Exchange modules. CECOBAN handles all capture, processing and balancing of transit items in Mexico.

The rigorous process began with a six-month evaluation system and a three-week beta test involving teams of professional network technicians and database specialists from CECOBAN, which evaluated several competitive systems. Based on the results of the testing, 34 senior technology officers from each bank selected ERAS' products to drive the basic functions of CECOBAN's check image transit system.

"Check 21 is as relevant to Mexico as it is in the U.S.," said Emilio Lujan, president of CECOBAN. "We are ahead of schedule in compliance, which gives us an edge in banking technology. CECOBAN has experienced the competitive advantage ERAS brings, and by streamlining operations, we are able to provide better customer service for all of our banks."

Today, ERAS' iPOD software drives capture devices at each of CECOBAN's 24 regional check processing centers. iPOD's "capture anywhere, process anywhere" remote branching feature drives 183 check transports installed throughout the 24 centers. Captured images are amount keyed, repaired and balanced in Mexico City. Balanced batches are then "exchanged" by ERAS iPOD/Exchange.

"We are making great strides internationally with ERAS' solutions which have the proven ability to multi-task thousands of operations per minute for millions of bank customers in a worldwide marketplace," Carlos Rodriguez, Jr., executive vice president of marketing at ERAS. "Our solutions have a true browser-based design and maximum scalability."

ERAS offers compatibility with all existing pertinent provisions of the Check 21 Act to all its customers in all its products. ERAS banks can clear with other image clearings institutions, reducing or completely eliminating intermediaries with direct digital compensations. ERAS is the image standard for CECOBAN's 34 banks in Mexico as of April 14, 2003.

About ERAS JV, LLP 

Miami, Fla.-based ERAS, provides state-of-the-art software systems and solutions to the banking and financial services industries. Founded in 1988 by David L. Wilson, ERAS was formed for the express purpose of developing and marketing a new generation of integrated banking software applications bundled. ERAS offers image item processing and clearings, payment, document capture, application/site hosting and technical support services. ERAS' comprehensive imaging solution suite is comprised of 23 modules and allows users to manage the system directly while requiring a minimum amount of technical support or intervention. Using the newest technology, ERAS enables banks with browser-based, cross-platform core data processing systems. For more information about ERAS, visit www.erasjv.com.