ATLANTA, Nov. 17, 2003 (PRIMEZONE) -- Harland Financial Solutions, Inc., a subsidiary of John H. Harland Company (NYSE:JH), today announced that it has formed a strategic alliance with Alogent Corp., a provider of payment transaction processing solutions for global financial institutions, remittance and payment processors. This alliance provides co-operative certification and seamless integration of Alogent's Sierra Xpedite(r) deposit automation product with Harland Financial Solutions' Encore!(r) Teller automation system. The combined solution facilitates fully automatic and accurate capture and flow of check images, permitting immediate truncation of checks presented at the teller window.
The Check Clearing for the 21st Century Act (Check 21) lays the groundwork for the increased use of check truncation. It permits financial institutions to process checks electronically rather than having to forward the original paper check, thus expediting the clearing process and reducing associated costs. A software product such as Alogent's Sierra Xpedite is an important enabling technology for financial institutions as they work towards leveraging this new legislative environment.
Sierra Xpedite is Alogent's extensible deposit automation product that captures, validates and manages transactions at points of physical payment. The patent-pending software reduces workload and improves productivity at the branch, while improving quality and enabling faster funds recognition through early posting.
"Check 21 has fostered re-thinking of the US payment system workflow. Banks need to plan their strategy on how to address Check 21 and its effect on in-branch check transactions, including changes in necessary back office workflows," said Connie Bruce, vice president and general manager of Harland Financial Solutions' Encore! Product Group. "Encore! and Alogent's Sierra Xpedite together can provide the seamless flow of check images with accuracy and accountability. The bottom line is lower costs throughout the entire payment handling process for our clients."
"Banks are increasingly and urgently interested in branch image capture and check truncation as a way of profitably managing the converging payments landscape. Our alliance offers financial institutions a tightly integrated option to deliver straight through check processing," said Robert Coyan, director of business development at Alogent Corp. "Our organizations are melding teller operations with transaction item image workflow to create true deposit automation -- reducing teller workload and improving customer experience in the process," he added.
The two companies will demonstrate their combined solution in New Orleans at BAI's Retail Delivery Conference & Expo 2003.
Encore! Teller is a highly scalable and customizable teller automation product that enhances customer service, increases teller productivity and reduces costs. Transaction processing is fast and easy. Complicated transactions are simplified, balancing is quick and institution policies and procedures can be enforced at the teller workstation.
Encore! Teller is a registered trademark of Harland Financial Solutions, Inc. All other brands and products or services are trademarks and/or service marks of their respective owners, may be registered, and should be treated appropriately.
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(TM).
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 Alogent's solutions, visit www.alogent.com.
For more information about Alogent in the USA, write 4005 Windward Plaza, Second Floor, Alpharetta, GA 30005; phone 777.752.6400; toll free 888.333.6030; fax 770.752.6500 or email info@alogent.com. For sales in the UK, phone 011 44 1273 414011; fax: 011 44 1273 414311 or email Haydn.John@alogent.com.
About Harland Financial Solutions
Harland Financial Solutions (http://www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes. Harland Financial Solutions is a leader in deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, customer relationship management systems, and compliance training software.
About Harland
Atlanta-based John H. Harland Company (NYSE:JH) (http://www.harland.net) is listed on the New York Stock Exchange under the symbol "JH." Harland is a leading provider of software and printed products to the financial institution market. Harland's software solutions include, deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, customer relationship management systems and compliance training software. Harland's printed products offerings include checks, direct marketing and financial forms. Scantron Corporation (http://www.scantron.com), a wholly owned subsidiary, is a leading provider of both paper and electronic-based services and systems for the collection, management and interpretation of data to the financial, commercial and educational markets.
This press release contains statements, which may constitute "forward-looking statements." These statements include statements regarding the intent, belief or current expectations of John H. Harland Company and members of its respective management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Reference is made to the Risk Factors and Cautionary Statements in Harland's Form 10-K and Form 10-Q filed under the Securities Exchange Act.