Alogent Reports Record Customer Growth

Business Wire, May 15, 2007

Deposit Automation Demand Drives Sales

ATLANTA -- Alogent Corp., a leading provider of enterprise payment transaction processing solutions for global financial institutions and processors, today announced that sales for its Sierra([R]) software platform reached record levels throughout 2006 and into 2007. During this time, Alogent increased its customer base by more than 800 installed financial institutions, doubled the number of desktops sold to more than 62,000, and released a third generation corporate remote deposit capture solution.

"In just over two years since the effective date of Check 21 legislation, we have seen explosive growth across all payments channels including branch, corporate, small business, ATM and cash vault," said Brian Geisel, founder and CEO of Alogent Corp. "We are pleased with our success to date in partnering with 4 of the Top 10 commercial U.S. banks that leverage our solutions, in cultivating productive partnerships with the industry's strongest players, and in serving a robust base of new and repeat customers."

In addition to successfully deploying solutions directly to financial institutions, Alogent partners with best-of-breed solution providers and resellers to offer comprehensive products and services that enable enterprise-wide deposit automation in the financial services industry. One such partnership was formed in 2004 with Information Technology, Inc. (ITI), a provider of financial software and services to more than a third of America's banks and savings institutions. ITI is also a business unit of Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company that provides information management systems and services to the financial and insurance industries to more than 18,000 clients worldwide.

The Alogent-ITI partnership leverages the strengths of both companies to make end-to-end, image-enabled, point-of-presentment check truncation solutions widely available, and has exposed Alogent's deposit automation infrastructure to ITI's entire client base, including financial institutions of all sizes, from de novos to those with billions in assets.

"Banks benefit significantly from the shift to a paperless environment, serving their customers faster and more economically by eliminating paper across all points of presentment," said Brian Schwanebeck, senior vice president and general manager of ITI's Digital Solutions operating unit. "Financial institutions can reduce costs, boost processing efficiency and enhance customer satisfaction with these advanced technologies. Timely adopters gain significant competitive advantages and increased profitability."

Alogent's success in bringing its innovations to the market illustrates that deposit automation is the key to converging enterprise payment channels into one stream, enabling organic growth and a host of additional advantages. The automation of just one retail channel, such as cash management, not only reduces processing costs within that channel, it also frees personnel to spend more time with customers, build client relationships and initiate cross-sell opportunities in other retail channels. By supporting convergence across all delivery channels through Alogent's TransChannel Deposit Automation, banks can simplify operations while slashing costs, reducing risk, growing market revenue and strengthening customer relationships.

"Image exchange has become the cornerstone of payment processing and we see the financial industry's migration toward deposit automation continuing throughout 2007," said Bob Meara, senior analyst with Celent's banking group. "The business case for distributed capture becomes more compelling as banks become aware of the cost savings and multiple efficiencies facilitated by image-based electronic check presentment."

Alogent became a pioneer in image-enabled technologies when it deployed its first generation software solution offerings to the European market in 1995. Since that time, the company has gained momentum in serving the Check 21 market including Tier 1, 2 and 3 financial institutions, as well as processors, financial institutions and credit unions of all sizes. Alogent's Sierra Xpedite([R]) deposit automation solutions, which include teller and branch capture, and remote deposit for business and corporations, are selected by institutions for their enterprise deployment, scalability and seamless integration with existing and emerging systems.

"2006 was an exciting year at Alogent. Not only did we extend our trend of U.S. growth by posting an astounding 27% CAGR over the past four years," said Paul J. Citarella, executive vice president, "our market and solution leadership continue to ensure that we're invited to the table for every major opportunity in the nation's largest and most successful institutions."

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 company's 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 is the deposit automation market leader with our platform processing billions of payments annually with over 62,000 desktop points of presentment sold. The company's customers include KeyCorp, Lloyds TSB and SunTrust, among others. Alogent brings proven delivery and leadership to help customers worldwide address mission-critical challenges. For more information, visit www.alogent.com or call 888.333.6030.