VSoft and the Federal Reserve Banks Host Electronic Payments Webinars July 15th and 23rd

Business Wire, July 8, 2008

Federal Reserve Expert to Discuss Rapid Acceptance and Movement from Paper-Based to Electronic Check Processing Platform

ATLANTA -- VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, will host an educational webinar with payments expert, Mark Kielman, Industry Relationship Manager for the Federal Reserve Banks' Retail Payments Office. The webinar will be offered Tuesday, July 15 at 11 a.m. EDT and Wednesday, July 23 at 2 p.m. EDT.

The webinars will provide information about both the current state and future of electronic payments as well as a financial institution case study demonstrating the advantages of adopting an image-based processing system. The number of Federal Reserve Bank processing locations in the United States continues to decline as the payments industry continues its rapid evolution from paper- to electronic-based processing. Kielman will discuss the Federal Reserve Banks' current role in image-based check processing and its strategy for the future as more financial institutions move away from the paper-based infrastructure. VSoft will support these findings with a real life customer case study demonstrating the benefits realized from an image system versus paper-based processing.

"The rapid adoption of image exchange has created tremendous opportunities for image-enabled financial institutions, and it has created challenges for paper-based processing," said Kielman. "We are happy to work again with VSoft on this educational webinar for banks to learn about business opportunities in image exchange and how they can prepare for the future of payment processing."

Image-based processing offers tremendous opportunities in terms of cost savings, operational efficiencies, risk mitigation and business growth opportunities. As the cost model for check processing and clearing is changing in favor of image processing, the banking industry is seeing large-scale shifts from paper to image-based check processing.

"Through this webinar, the Federal Reserve Banks are continuing their commitment to educational outreach to the banking community," said Murthy Veeraghanta, president, VSoft Corporation. "The webinar will equip banks with the knowledge required to adapt to this transformation of the electronic payments marketplace. An aggressive plan to implement image exchange will help banks take advantage of the opportunities image processing has to offer and avoid the escalating cost of paper processing."

For more information or to register, please visit www.vsoftcorp.com.

About the Federal Reserve Banks

The Federal Reserve Banks offer a full range of financial services including FedCash([R]), Check including FedForward([R]), FedReturn([R]) and FedReceipt([R]), FedImage([R]) Services, FedACH([R]), Fedwire([R]) Funds Service, Fedwire Securities Service and National Settlement Service. In addition, the Federal Reserve Banks offers services designed to support the use of Financial Services, including Account Management Information and Service Charge Information. Complete product and service information can be found at FRBservices.org.

About VSoft Corporation

Established in 1996, VSoft Corporation is a global provider of financial technology solutions that improve service, reduce cost and maximize efficiency. Its broad image-based solutions include distributed deposit and payment capture across all points of presentment, back office check processing, image exchange, document management, remittance and lockbox operations. Customers include banks, credit unions, savings institutions, transaction processors, governments, utilities, telecommunications and retail organizations. VSoft's proven products and services ensure versatile and rapid delivery of solutions to mission-critical needs.

Included in Deloitte & Touche's Technology Fast 50 and the 2007 Inc. 5,000, VSoft's solutions are used by more than 1,700 financial institutions worldwide. VSoft recently received high remarks from Celent, and was selected by Bank Technology News as one of The Innovators 2007. For more information call (770) 225-7692 or visit www.vsoftcorp.com.

Editor's Note: The correct usage of the company name, VSoft Corporation, is either referring to it as VSoft Corporation or VSoft, with both the "V" and the "S" capitalized.