ITI Unit of Fiserv Teams with Alogent to Reduce Payment Processing Costs for Financial Institutions

February 22, 2005
ITI Unit of Fiserv Teams with Alogent to Reduce Payment Processing Costs for Financial InstitutionsLINCOLN, Neb.--Feb. 22, 2005-- Information Technology, Inc. (ITI), a subsidiary of Fiserv, Inc. (Nasdaq:FISV), and Alogent Corp. today announced an agreement that will provide financial institutions with the ability to streamline payment processing by automatically capturing, validating and managing transactions at multiple points of presentment. This alliance between ITI, a top U.S. provider of financial technology software and services, and Alogent, a payment transaction processing solutions provider for global financial institutions, remittance and payment processors, will simplify time-consuming procedures and reduce costs.

"As Check 21 ushers in the transformation from paper exchange to image exchange, an increasing number of financial institutions are realizing the immediate cost savings and efficiencies now possible through paper-to-electronic conversion at the earliest point of presentment," said Jim Sizemore, ITI senior vice president and CIO. "These solutions will make those efficiencies available to our clients."

By integrating Alogent's deposit automation and payment processing solutions into ITI's Premier® core banking software, financial institutions will benefit from deposit automation through Premier's comprehensive branch, corporate and transaction management system. This offering will be made fully available to ITI's client-base of more than 2,800 financial institutions later this year.

Alogent's patent-pending deposit automation software, Sierra Xpedite®, is used at multiple points of presentment to help financial institutions gain significant benefits by increasing processing speed and decreasing costs. Sierra Xpedite also reduces teller workload and improves productivity while enabling faster funds recognition through early posting.

With this announcement, ITI will add Alogent's deposit automation solutions for branch teller, branch back counter and corporate customers to its Premier suite. This includes Sierra Xpedite at points of presentment and Sierra® Xchange™ in central processing locations acting as a payments processing engine for both physical and virtual workflows. When combined, Alogent's deposit automation technology solutions integrate the image, data and paper from both intrabank points of presentment and interbank exchange to deliver Straight Through Check Processing™.

"We're very excited to have the opportunity to join forces with ITI," said Alogent CEO and founder Brian Geisel. "By integrating Alogent's proven and flexible point-of-presentment check truncation solutions with the power of next generation Premier, bankers will now have an opportunity to gain a strategic advantage using a delivery model that's simple to implement."

ITI's in-house check processing clients have access to the Fiserv Clearing Network, a solution that enables financial institutions to improve efficiency and reduce check-clearing costs. Through the network, ITI's clients gain access to substitute check printing to take advantage of the recent changes brought by Check 21 and to image exchange as that technology gains momentum.

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 suite of Sierra solutions helps 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 United States, and the company provides the platform that processes 74% of all checks written in the United Kingdom.

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

Information Technology, Inc. (ITI), a subsidiary of Fiserv, Inc., provides America's bankers an extensive array of technology solutions and support services for core accounting, relationship management, teller and platform automation, Internet banking, account aggregation, e-commerce solutions for business and consumers, business intelligence, imaging and document management. A comprehensive suite of planning, installation, support, training, analysis and consulting services supports all technology solutions. Founded in 1976 and headquartered in Lincoln, Neb., Information Technology has grown to include its subsidiaries Precision Computer Systems (PCS) and eSolutions, as well as partnerships with some of the best-known technology companies in the world. ITI can be found on the Internet at

Fiserv, Inc. (Nasdaq:FISV), a provider of information management systems and services to the financial industry, including transaction processing, outsourcing and business process outsourcing, as well as software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv can be found on the Internet at