Alogent Announces Strategic Partnership with Source Technologies

Atlanta, November 12, 2003-Alogent, a provider of payment transaction processing solutions for global financial institutions, remittance and payment processors, announced a partnership with Source Technologies, leading providers of innovative solutions for secure payments and self-service systems. The product-based partnership will integrate Alogent’s Sierra Xpedite® with Source Technologies’ concourse™, an assisted self-service financial kiosk solution.

“This partnership strengthens our straight-through check processing™ solution for financial institutions and brings us one step closer to completely automating the payment and deposit process at various points of presentment,” said Robert Coyan, Director of Business Development at Alogent. “The integration of Sierra Xpedite with financial kiosks enables deposit automation of customer self-service transactions. Using image-based technology, our partnership helps ensure financial institutions are Check 21 ready.”

The integration of these products will reduce teller workload, enhance customer service and significantly reduce branch operational costs. The capture and use of check images at self-service kiosks reduces the risk of fraud and customer-introduced errors through real-time validation and balancing of transactions.

“Incorporating deposit automation into this assisted self-service kiosk eliminates labor-intensive processing procedures, resulting in tremendous ROI opportunities for financial institutions,” said Miles Busby, President of Source Technologies. “Deposit automation is a logical extension of our customer self-service concept. Financial institutions can pass these benefits on to their customers with faster-processed transactions and real-time proof of deposits.”

Sierra Xpedite captures, validates, and automatically balances transactions at points of physical placement, using check images and MICR data, facilitating real-time proof of deposit.

The products can also accommodate matching, encoding, and automated reconciliation of all or some checks in today’s “paper to follow” world. The software reduces workload, and improves productivity, while improving quality and enabling faster funds recognition through early posting.

concourse is an assisted self-service financial kiosk solution, designed to help retail banks improve customer service and teller efficiencies within a branch. Self-service financial kiosks offer flexibility for alternative delivery applications, such as check cashing, official checks, money orders, money transfers and check cash deposits. Self-service kiosks provide financial institutions with a platform to supplement existing ATM networks with demanding applications.

About Source Technologies
Source Technologies creates innovative, flexible solutions by offering companies the power to control transactions, disbursements, and other secure business processes through dynamic hardware and software solutions and self-service terminals. With an increasing focus on automation through self-service, Source Technologies provides end-to-end solutions and system integration services in various industries, including financial services. We have enjoyed a successful customer track record because we build strength and value into every solution we offer.

About Alogent
Alogent is a financial services technology company with proven global success in providing payment processing solutions that enable banks, billers and outsource processors to reduce costs, accelerate timelines and improve quality in check and item processing. Alogent's solutions help banks adapt to Check 21, check truncation and paper-to-electronic transformation. They include solutions for deposit automation, image based centralized item processing, image exchange and the unique Straight Through Check Processing. Alogent products process over a billion transactions a year in the U.S., and the company provides the platform that processes 70 percent of all checks written in the UK. Alogent’s solutions are being deployed to the largest deposit automation implementations in the world. Alogent brings proven credibility and leadership to help global customers address mission-critical challenges. For more information about the company’s solutions, visit www.alogent.com