Source Technologies Introduces X9.90 IRD Solution Pack for CheckPartner™

-Provides standard data import and output format for Check 21 IRD processing-

Las Vegas, May 18, 2004-Source Technologies, a leading provider of integrated solutions for managing financial transactions and other secure business processes, announced at BAI’s TransPay Conference the development of the X9.90 IRD Solution Pack for its CheckPartner™ server-based payment management system. X9.90 is the Accredited Standards Committee’s (ASC) specification for Image Replacement Documents (IRD) or substitute checks established under Check 21. The current trial use specification is expected to be final by October. Source Technologies’ Solution Pack includes a pre-packaged X9.90 host data import template for use with CheckPartner's Application Server; X9.90-compliant layouts for printing one, two and three images on a single page; and configurable handling of IRD workflow and output through CheckPartner.

“Our Check 21 value proposition goes well beyond having ‘IRD-ready’ products,” said John Spencer, co-founder and executive vice president, Source Technologies. “We have more than 15 years’ experience implementing large-scale MICR solutions. That kind of thought leadership helped us build the right capabilities into CheckPartner and our printers and is invaluable for our clients sorting out Check 21’s complexities.

For financial institutions pursuing Check 21, CheckPartner and the X9.90 IRD Solution Pack simplify implementation by providing the software platform to manage complex IRD workflow and processes, while ensuring compliance with data and layout standards. When used with Source Technologies’ encryption-enabled Magnetic Ink Character Recognition MICR) laser check printers, the solution is guaranteed to meet or exceed print tolerances specified in the ASC standard.

The solution handles a variety of IRD printing applications including post-sort creation of cash-letter/replacement check packages and other items forwarded to financial institutions unable to accept images, non-sufficient funds (NSF) returns and re-deposits, and issuer statements. It also provides logic and functionality for real-time exception handling and reprints.

About Source Technologies
Founded in 1986, Charlotte, N.C.-based Source Technologies provides integrated solutions for controlling financial transactions and other secure business processes within the financial services industry and FORTUNE 1000 companies. Clients include nine of the Top 10 U.S. banks. In addition to its family of secure disbursement software solutions, Source technologies offers magnetic ink character recognition (MICR) printing solutions and consumables for secure document applications, and the ground-breaking concourse™ family of assisted self-service kiosks enabling financial institutions, retailers, and governments to automate in-person business transactions.