Alogent Announces New Development Agreement with Siebel Systems; Deposit Automation Services at Retail Bank Branches Address New Check 21 Regulations

Business Wire, Nov 17, 2004

ATLANTA -- Alogent Corp., a provider of payment transaction processing solutions for global financial institutions, remittance and payment processors, today announced a development agreement with Siebel Systems to deliver deposit automation capabilities in Siebel Branch Teller. This product integration enables Siebel Systems' retail banking customers to support the Check Clearing in the 21st Century Act (Check 21), which went into effect Oct. 28, 2004. Check 21 allows financial institutions to clear checks electronically rather than having to forward the original paper check, thus expediting the clearing process. Check 21 may also minimize check fraud by significantly reducing the "float" time between when a check is written and when it is processed.

Alogent's Sierra Xpedite(R), Extensible Deposit Automation(TM) technology will be used by Siebel Branch Teller to automate the image capture of checks and paper deposit documents at the teller, resulting in reduced cost and improved customer service. Sierra Xpedite captures, validates and manages transactions at points of physical payment.

"Siebel Branch Teller, using Alogent's deposit automation technology, enables our customers to take immediate advantage of the efficiencies of electronic check processing under Check 21," said Ashwin Goyal, General Manager, Siebel Retail Finance, Siebel Systems, Inc. "But even as retail banks take another step forward into the digital age, Siebel Branch Teller ensures that branch tellers have the tools and information they need to still offer personalized service to every customer who visits the branch."

Alogent is the only provider of deposit automation solutions at all points of capture. Its patent-pending, point-of-presentment image workflow technology uses the image and data to reduce teller work, eliminate errors caused by manual keying and validate customer transactions. Siebel Branch Teller is a customer-focused, processing and fulfillment teller platform, which financial institutions can use to transform their branches into flexible sales and service outlets. With its built-in business intelligence, provided by Siebel Analytics, the solution will enable bank personnel to provide personalized service and to offer additional products and services, potentially increasing bank revenues. The integration of these three solutions increases branch efficiency by automating transactions and processes and reducing paper-based operations. As a result, branch personnel can focus more time on the customer rather than the transaction process itself.

Siebel Branch Teller is a component of Siebel Finance, the market's only complete banking solution that provides an integrated suite of financial transaction, marketing, sales, service, and business intelligence capabilities. The suite also offers a standards based, service-oriented architecture that enables banks to increase profitability while strengthening and broadening customer relationships through multiple channels, including the branch, call center, Internet, and ATM.

"Our recent development with Siebel Systems enables Siebel Branch Teller customers to take full advantage of the benefits of Check 21," said Amar Verma, Vice President of Product Management for Alogent. "Siebel Branch Teller provides a robust and complete Branch Teller solution for the US banking industry that uniquely augments financial transactions capabilities with rich customer insight and built in business intelligence. With the merging of both technologies, financial institutions will maximize their platform by providing heightened image workflow and deposit automation. This is one more way Alogent offers U.S. financial institutions a wider range of Check 21 options and integrations."

About Alogent

Alogent is a financial services technology company with proven global success in providing payment processing solutions that enable banks, billers and outsource processors to reduce costs, accelerate timelines and improve quality in check and item processing. Alogent's suite of Sierra solutions help banks adapt to Check 21, check truncation and paper-to-electronic transformation. They include solutions for deposit automation, image based centralized item processing, image exchange and the unique Straight Through Check Processing(TM). Alogent products process over a billion transactions a year in the United States, and the company provides the platform that processes 74 percent of all checks written in the United Kingdom.

Alogent's solutions are being deployed to the largest deposit automation implementations in the world. Alogent brings proven credibility and leadership to help global customers address mission-critical challenges. For more information about Alogent's solutions, visit www.alogent.com. For more information about Alogent in the USA, write 4005 Windward Plaza, Second Floor, Alpharetta, GA 30005; phone 777.752.6400; toll free 888.333.6030; fax 770.752.6500 or email info@alogent.com. For sales in the UK, phone 011 44 1273 414011; fax: 011 44 1273 414311 or email Haydn.John@alogent.com.