Alogent Technology Provides KeyCorp with Remote Capture and Straight T

    Business Editors

    ATLANTA--(BUSINESS WIRE)--April 20, 2005--Alogent Corp. today announced that KeyCorp (NYSE: KEY) has successfully implemented one of the company's Remote Deposit Automation solutions for automation of corporate check deposits.
    KeyCorp customers can capture images and data and transmit balanced deposits directly to the bank without leaving their businesses. Benefits of this remote capture solution include improved deposit preparation, fewer trips to the bank, extended deposit windows and the potential for better funds availability. To date, KeyCorp customers have processed approximately 3,500 items on the system.
    The Remote Deposit Automation solution implemented by KeyCorp includes Alogent's Sierra Xpedite(R) Remote Deposit(TM) at remote business locations integrated with Sierra(R) Xchange(TM) at KeyCorp processing centers for Straight Through Check Processing(TM). Sierra Xpedite captures, validates, and manages deposits at all points of presentment including branches, ATMs, cash vaults, merchant and corporate client locations. Sierra Xchange is a virtual check processing engine, which collects transactions from distributed points of presentment, applies workflows, and intelligently routes image, data, and paper to endpoints based on unique business rules.
    KeyCorp disclosed that the total remote capture deposits from the phase one roll out is nearly $28 million in just over three months. According to Mike Barnum, Executive Vice President Operations Group, Banking Services Department at KeyCorp, "Alogent's solutions are aligned with our strategy for managing check processing in the post-Check 21 world. Alogent's platform has enabled us to improve our efficiency while optimizing our delivery of superior service to KeyCorp customers, regardless of how they choose to deliver deposits to us."
    "Our partnership with KeyCorp builds on the leadership we have established in Straight Through Check Processing(TM)," Brian Geisel, CEO of Alogent, said. "Taking deposit automation to remote points of presentment outside the bank itself enables KeyCorp to enhance revenue, improve customer retention and accelerate new customer acquisition through differentiated service. We are pleased to be able to work with them to meet their Check 21 goals and beyond."
    "Distributed image and data capture are critical elements of our processing strategy," said John Chinn, vice president and product manager, KeyCorp Client Services. "Alogent was the logical choice for KeyCorp, because the company not only had technology solutions that managed the capture, distribution and processing of items, but also integrated intelligent workflows around the receipt and exchange of those transactions. This solution will accelerate the process of check capture and forward presentment, solidifying KeyCorp's position for maximum benefits from early item truncation."
    Alogent offers a suite of Sierra Xpedite-based remote deposit products, including Sierra Xpedite(R) Remote Deposit Plus(TM) and Sierra Xpedite(R) Virtual Lockbox(TM), which are tailored to the volume, workflow, device, and functionality needs of the financial institution and its merchant and corporate customers.

    About Key

    Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $90 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.

    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 suite of Sierra 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). For more information, visit www.alogent.com.

--30--LK/at*

CONTACT: For Alogent Corporation, Atlanta Andrew McCaskill, 678-781-7210 or KeyCorp, Cleveland Laura J. Mimura, 216-689-3786 Laura_J_Mimura@Keybank.com

KEYWORD: OHIO GEORGIA INDUSTRY KEYWORD: BANKING SOFTWARE PRODUCT MARKETING AGREEMENTS SOURCE: Alogent Corp.

Copyright Business Wire 2005