Carreker Announces Fraud Prevention Contract
Media Release From: Carreker
Carreker Corporation Announces Fraud Prevention Contract With Australia And New Zealand Banking Group, Ltd.
DALLAS, Texas, Aug. 14 /PRNewswire-AsiaNet/ -- Carreker Corporation (Nasdaq: CANI), a leading provider of e-finance enabling solutions to the financial industry, announced today further expansion of its fraud prevention technology in the Southern Pacific region through a contract with Australia and New Zealand Banking Group Limited (ANZ). ANZ, with total assets of $172 billion (AUD), is one of the world's 100 largest banks.
Carreker will install its FraudLink On-Us(TM), FraudLink Deposit(TM), and FraudLink Kite(TM) software to monitor potential fraudulent activity across all cheque transactions within the bank's operations. This contract represents the first entry of Carreker technology into New Zealand and another expansion of the company's technology in Australia. With this engagement, Carreker solutions will monitor more than 80 percent of the Australian banking industry's depository accounts against fraud. The Australian Institute of Criminology estimates the cost of fraud and misappropriation is between $3 billion and $3.5 billion (AUD) per year in Australia.
Carreker's FraudLink On-us(TM) is a mainframe-based fraud detection platform designed to assist banks in reducing cheque fraud losses by detecting counterfeit and forged cheques either at the branch counter or in the back office. FraudLink Deposit(TM) is an advanced software solution that allows banks to detect potentially fraudulent deposit transactions by using bank-set parameters to identify criminal trends and comparing the information with account holders' established deposit history. FraudLink Kite(TM) is an historical, behaviour-based application designed to identify and report suspected kiting/cross-firing cases for investigation.
J.D. "Denny" Carreker, Chairman and Chief Executive Officer of Carreker, said the contract is another significant achievement in the company's global e-finance strategy and supports the company's efforts to expand development in the region.
"ANZ has a strong commitment to protecting its customers and reducing its exposure to fraudulent activity. We are extremely pleased that ANZ has selected Carreker solutions to mitigate fraudulent activity in their business.
This is further recognition of our success in developing effective risk management solutions for our clients in the region and around the world. We look forward to our expanded relationship with ANZ," Carreker said.
Mike Israel, Carreker Sales and Business Development Director for Australia and Asia, said, "Carreker combines extensive expert knowledge with cutting-edge software to develop an integrated fraud mitigation solution. We will work with the bank to make sure the most effective solution is implemented for ANZ. As every bank worldwide will differ by region and market, Carreker will work with ANZ to assure that the implementation of the software will mitigate the 'specific' cheque fraud schemes that ANZ might experience," Israel said.
ANZ offers financial products and services in Australia and New Zealand and has overseas representation predominantly in greater Asia. ANZ provides a full range of banking services including residential and investment mortgage lending, deposit taking, credit cards, electronic banking including Internet Banking, overdrafts, term loans, trade finance, commercial bill acceptances and treasury services.
About Carreker Corporation:
Carreker Corporation, headquartered in Dallas, Texas, is a leading provider of integrated consulting and software solutions that enable banks to identify and implement e-finance solutions, increase their revenues, reduce their costs and enhance their delivery of customer services. Carreker's e-finance solutions use leading-edge technologies to create differentiated applications for banks and their customers. The Company believes that its 23 years of experience in the banking industry, combined with a professional staff and advanced technological expertise, allow for targeted solutions for banks and other financial institutions. Carreker offerings are organized into three divisions, as follows:
(1) Revenue Enhancement, which increases banks' revenues through market segmentation and improved customer pricing structures,
(2) Global Technology Solutions, which provides business-case driven technology solutions through three customer-aligned groups: Risk Solutions, Cash Processing & Logistics Solutions and Check Solutions (these technology-enabled solutions bring together nearly 125 mission-critical business process applications, strategic application implementation services, consulting/advisory services and outsourcing services) and
(3) Enterprise Solutions, which integrates systems, combines operations and improves workflows and internal operational processes. Carreker's customer list includes more than 200 financial institutions in the United States, Canada, the United Kingdom, Ireland, Australia and South Africa, including 70 of the largest 100 banks in the United States.
For more information please visit the website at 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, risks associated with the Company's acquisition of Check Solutions, 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 solutions on e-finance opportunities 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 international operations, reliance on independent contractors, 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 30, 2001 and in other reports and documents filed by the Company with the Securities and Exchange Commission from time to time.
SOURCE: Carreker Corporation
Web site: http://www.carreker.com