Digital Check Gives 'Check Truncation Systems Innovation Award 2004' to Advanced Financial Solutions for the Successful Implementation of Singapore's Check Truncation System

Business Wire, Sept 27, 2004

NORTHFIELD, Ill. -- Digital Check Attributes their 94% Market Share of World's Only True End-to-End Check Image Exchange in Singapore's Check Truncation System to Strategic Alliances

Digital Check Corporation (DCC) recognized the pioneering work, leadership, and teamwork of its partner Advanced Financial Solutions (AFS - www.afsimage.com) of Oklahoma City, in the successful implementation of Singapore's Check Truncation System, by presenting AFS with the Digital Check 'Check Truncation Systems Innovation Award 2004', at the AFS Vision 2004 User Conference, Oklahoma City, held last week.

Singapore's Check Truncation System was fully implemented on July 12, 2003, and is the world's first nationwide, end-to-end check truncation system leveraging both distributed capture and internet technologies to capture check images at the point of deposit and transmitting the images over a secure communications network. In 2003, the Singapore Clearing House Association (SCHA) processed 87 million Singapore Dollar denominated checks and 550,000 US Dollar denominated checks with total values of SG$368 billion and US$14 billion through CTS.

"The Singapore system precedes the USA's Check 21 as the world's only true end-to-end check image exchange. The checks are truncated into scanned images at the branches and cleared, making the image the only legal reference. Digital Check's TellerScan TS 350 scanners are installed in virtually all of Singapore's major banks to capture the check image, generating a 94% market share," said Tom Anderson, President of Digital Check Corporation, "and we attribute our success in this unique venture to the strong and collaborative relationships we have with our partner AFS. It therefore gives me great pleasure to present AFS with Digital Check's Check Truncation Systems Innovation Award 2004."

Gary Nelson, President AFS, accepted the award on behalf of AFS, saying " We brought together superior technology with AFS' ImageVision software and Digital Check's TellerScan scanners, with outstanding integration, teamwork and implementation by our Singapore partner BCSIS to make this all possible. The success of our partnership in the Singapore Check Truncation project places us in a very strong position as other nations in the Pacific Rim, the Middle East, and most recently southern Africa, seriously evaluate the benefits of moving to check truncation."

About Advanced Financial Solutions

Founded in 1992, AFS, a Metavante company, has consistently delivered high-quality image-based and conventional check processing solutions to the financial industry. AFS was one of the first companies to offer image and item processing technology based on the Microsoft Windows NT operating environment. All AFS check imaging solutions are designed from the ground up with the functionality that banks need for operating in a high capacity transaction-based environment. AFS ImageVision is a Windows NT-based system that supports electronic capture, encoding, and clearing of checks and other documents. AFS Enterprise Archive allows users to archive checks and other digitized documents in a central location and to retrieve those images using traditional or Internet-based research tools. Based in Oklahoma City, AFS became a wholly owned subsidiary of Metavante Corporation on July 1, 2004. Visit AFS on the Web at www.afsimage.com.

About Digital Check

Digital Check Corporation (http://www.digitalcheck.com) is the leading manufacturer of compact countertop check scanners. This privately held company was founded in 1959, and renamed Digital Check Corporation in 1995 to specialize in check imaging scanners targeted at the banking, point-of-sale and financial marketplaces. DCC is the manufacturer, at its plant in Rancho Cucamonga, CA, of the market leading TellerScan(R) product line, including TS 200, TS 210, TS 220, TS 300, TS 350, and TS 400ES, and is the exclusive North American distributor of BUIC scanners. DCC check scanners, along with the DCC 'Check 21' compliant API, are being used by most banking software vendors involved in Check 21 implementations. For further information, please call 847-446-2285, e-mail: info@digitalcheck.com, or visit our web site at: www.digitalcheck.com

For Editors: A diagram of how the Singapore CTS works, and a detailed explanation, can be found at: www.bcsis.com/products9.html