Alogent Celebrates 10 Years of Success As An Enterprise Payments Solutions Leader; Company's 'Converging Payments' Solutions Marry Well with Industry's Check 21 Needs and Beyond

Business Wire, July 13, 2005

ATLANTA -- Coinciding with the inaugural year of Check 21, Alogent Corp., a leading global provider of enterprise payment processing solutions for financial institutions and processors, is celebrating its ten year anniversary as a payments technology specialist. The company delivers solutions that facilitate deposit capture and automation, image exchange initiatives and transaction processing efficiencies.

Founded in 1995, Alogent has pioneered the development of paper to electronic payment processing solutions and established several industry leading and first to market technologies. Of special relevance in the U.S. Check 21 marketplace is the company's 2002 introduction of image-based Extensible Deposit Automation(TM) solutions at all points of presentment, including corporate, branch, ATM, cash vault and correspondent bank. Alogent is also the first in the industry to streamline processing workflows by developing a front and back counter solution completely integrated with item processing to achieve Straight Through Check Processing(TM).

"While celebrating our first decade of success, Alogent maintains a forward thinking focus as a long-term market leader," said Brian Geisel, founder and CEO of Alogent Corporation. "I am privileged to work with a team of associates who have a unique understanding of payment processing and who continuously reinvent their knowledge base to exceed our customer's expectations. Together, we are looking forward to another decade of innovation and enterprise delivery as the payments industry undertakes dramatic change," he added.

Alogent's solutions are running in four of the top 10 U.S. banks and in a multitude of other leading institutions around the world. Today, Alogent software is installed in domestic institutions including SunTrust, JPMorgan Chase, E*TRADE Bank, Northern Trust, Independence Community Bank, HSBC Bank USA, KeyCorp and Corporate One Federal Credit Union. International customers include Barclays Bank, iPSL, Lloyds TSB Bank and Halifax Bank of Scotland.

"As a market leader in both the U.S. and the U.K, Alogent has been entrusted with mission-critical operations by some of the largest and most innovative financial institutions in the world," Geisel added. "It is a testament to our commitment to financial services, as well as industry confidence in our Sierra solutions."

Most recently, Alogent announced its 'next generation' remote deposit product suite, providing the most flexible and robust solution in the market today and thereby strengthening the company's leadership position in Extensible Deposit Automation. All next generation Sierra Xpedite Remote Deposit Automation products are built on Microsoft's .NET framework - with Smart Client architecture - which combines the ease of deployment of Web-based thin clients with the rich user interface of desktop-based thick client applications.

"Due to the success of our products and the dedication of our employees, Alogent is experiencing greater success than ever before," said Paul J. Citarella, executive vice president. "Alogent will continue its charge to develop and implement strategic and innovative payment processing solutions for financial institutions as well as for their business and consumer customers. The success of our recent inaugural Customer Advisory Council is just one example of how we are assuring our clients that Alogent's products will evolve in tandem with their current and future business strategies."

About Alogent

Founded in 1995, Alogent Corporation is a leading global provider of enterprise payment processing solutions that enable financial institutions and processors to accelerate the conversion of paper to electronic processing. The Sierra suite of solutions automates payments and deposits at every point of presentment (including branches, ATMs, merchants, corporations and cash vaults) while optimizing electronic data and image processing and settlement. Alogent's solutions currently process and settle billions of payments annually at more than 30,000 point of presentment, and are deployed at the largest deposit automation implementations in the world. Alogent brings proven credibility, a history of on-time delivery and leadership to assist global customers address mission-critical challenges. For more information, visit www.alogent.com.