STRATEGIC PARTNERS
May 28, 2002
DALLAS, May 28 /PRNewswire-FirstCall/ -- Carreker Corporation (Nasdaq: CANI ), a leading provider of technology and consulting solutions for the financial industry, today announced that Nationwide Building Society will implement Carreker's Internet-enabled cash inventory management solution, Integrated Cash Operations Modules(TM), or "iCom" for its 681 branches and 2000 ATMs. Nationwide is the United Kingdom's fifth largest mortgage lender and ninth largest retail banking, saving and lending organization by asset size. More significantly, Nationwide, which is owned by its members, is the largest building society in the world.
iCom uses demand-based inventory management techniques to identify a daily cash activity profile for each cash point or site. Then the technology determines the optimal inventory, order, and shipment amounts for individual branches, ATMs, transportation providers and the vault. It interprets and imitates historical data to define customer behavior and adjusts for variables to forecast future customer demand, and it provides multiple levels of customized alerts to prevent cash outage situations.
Said Steve Carpenter, Manager, Cash Services of Nationwide, "As a member-owned organization, we have a strong obligation to not only operate as efficiently as possible, but provide the highest quality service to our members. With iCom's Internet-enabled cash management capabilities, we can ensure our members have access to the cash they need at our branches and through our ATM network, while we are able to manage our costs more effectively."
Brian Evetts, Vice President and Managing Director of Carreker's Cash Solutions, explained, "We designed iCom to help clients manage their entire cash supply chain across the enterprise at any time over the Web, bringing down related costs by 20-40% in the first year of implementation."
Said J. D. "Denny" Carreker, Chairman and Chief Executive Officer of Carreker Corporation, "iCom is another example of our Internet-enabled solutions that help clients serve their customers better and more cost effectively. We are particularly excited that an organization like Nationwide, well known for their cost-management leadership, has chosen our solution."
Nationwide, with headquarters in Swindon and a second major administrative centre at Northampton, offers a broad range of retail financial services, including mortgages, savings, current accounts, life assurance and investment products, personal loans and household insurance.
About Carreker Corporation
Carreker Corporation improves earnings for financial institutions around the world. The company's integrated consulting and software solutions are designed to increase clients' revenues and reduce their expenses, while improve security and increasing the value of their customer relationships. Carreker provides products and services to more than 200 clients in the United States, Canada, the United Kingdom, Ireland, Australia and South Africa. Clients include the full range of community, regional and large banks, among them more than 75 of the largest 100 banks in the United States. Headquartered in Dallas, Texas, since 1978, Carreker Corporation also has offices located around the world including London, Toronto and Sydney. For more information, visit http://www.carreker.com .
Forward-Looking Statement -- This document contains forward-looking statements based on current expectations that are inherently subject to risks and uncertainties. The words "estimate," "project," "intend," "expect," "believe," "plan" and similar expressions are intended to identify forward-looking statements. The Company's actual results could differ materially from those currently anticipated due to a number of factors, including, but not limited to, changes in the banking industry's demand for the Company's solutions, significant customer concentration and the potential loss of a significant customer, variations in operating results, reduction in revenues due to pricing arrangements, the infrequent use of long-term contracts with customers, the focus of the Company's technology and consulting solutions and the chance that they will not be accepted in the marketplace, risks associated with rapid growth in the Company's business, the inability to attract and retain key personnel, existence of defects or errors in the Company's software, ability to develop new technologies and services, ability to meet the changing needs of customers, dependence on third-party Internet providers and the Internet, intense competition, risks associated with strategic alliances and acquisitions, inability to protect the Company's proprietary rights, infringement and other claims and related expenses, reliance on third-party licenses, volatility in the Company's stock price, exposure to risks associated with our indebtedness, international operations, reliance on independent contractors, adoption of Financial Accounting Standard No. 142, governmental regulation and legal uncertainties and anti-takeover provisions in the Company's charter documents and under applicable law. These and other factors are set forth in the Company's annual report on Form 10-K filed on April 15, 2002 and in other reports and documents filed by the Company with the Securities and Exchange Commission from time to time.
SOURCE: Carreker Corporation
