La Salle Bank and Standard Federal Bank Parent Company Enters Into Referral Agreement With IPS of Boston

Business Wire, Feb 5, 2002

Business/Technology Editors

BOSTON--(BUSINESS WIRE)--Feb. 5, 2002

DoubleCheck(R) Software Will Be Recommended To Expedite

Implementation Of Positive Pay Services

IPS of Boston, a leading provider of payment and fraud avoidance software products for corporations worldwide today announced it has entered into an agreement with ABN AMRO North America, Inc. (AANA), the parent company of LaSalle Bank in Chicago and Standard Federal Bank in Michigan. For their part, LaSalle Bank and Standard Federal Bank will recommend the IPS DoubleCheck(R) Software to corporate customers who wish to use their positive pay services but may lack the internal resources or expertise to format and transmit their check issue files. Future releases of DoubleCheck will contain AANA's positive pay format.

"IPS of Boston's DoubleCheck software allows customers to easily create check issue information and transmit this information to the bank," stated Deb Ryan, Vice President and Lead Disbursement Product Manager for ABN AMRO Services Company, a subsidiary of AANA, which provides technical solutions for LaSalle Bank and Standard Federal Bank. "We will recommend DoubleCheck software to customers who desire a simple, uncomplicated means to transmit check issue information in order to take advantage of ABN AMRO's Positive Pay and ARP Full Account Reconciliation Services."

Positive Pay is an industry term for check matching services provided by most financial institutions. After checks are cut at the corporate client site, the check issue file is then sent to the bank. As the checks are individually presented for payment, suspect checks are flagged for review prior to payment. If there is a discrepancy or a determination of fraud, the client instructs the bank not to pay the check, thereby avoiding loss to the corporate client or the bank. While the positive pay service has been available for quite some time, it is often difficult for the corporate client to modify those check issue files into the format in which the bank wishes to receive them. DoubleCheck will address this problem.

"The decision to refer DoubleCheck will allow ABN AMRO to provide increased flexibility and service to clients who wish to utilize its positive pay services," remarked Gary McNamee, president and CEO of IPS of Boston. "Once in place, these clients will have greatly reduced their exposure for being a victim of check fraud."

While many larger corporations today utilize positive pay services through their financial institutions, DoubleCheck will also allow many middle market and even small business clients, who may not have the time or internal resources, to utilize positive pay services.

About IPS of Boston

IPS of Boston is a growing leader in payment and fraud avoidance software. IPS Payment Suite of products includes C.O.D. Checks On Demand!(R)DoubleCheck(R)and ACHieve!(TM)Information in this release applies specifically to products available in the United States. Products availability and specifications may vary in non-U.S. markets. Company and product information may be obtained by calling (781) 356-7400 or by accessing their web sites, www.POSITIVEPAY.com or www.ACH.com.

About ABN AMRO

Netherlands-based ABN AMRO Bank N.V. is one of the world's largest banks with total assets of EUR 614.6 billion and a presence in more than 3,500 locations in over 70 countries and territories. ABN AMRO is organized into three autonomous strategic business units, responsible for managing wholesale clients; consumer and commercial clients; and private clients and asset management.

ABN AMRO North America, Inc. is headquartered in Chicago and has nearly $90 billion in assets. Subsidiaries include LaSalle Bank in Chicago, Standard Federal Bank, N.A. in Michigan.