Tuesday December 1, 11:12 am Eastern Time
Company Press Release
PNC Bank Utilizes Carreker-Antinori Software to Combat Check Fraud
DALLAS--(BUSINESS WIRE)--December 1, 1998--Thanks to two risk reduction products developed and installed by Carreker-Antinori, Inc. (NASDAQ: CANI - news), PNC Bank Corp. [NYSE:PNC - news] has realized a significant decline in check fraud losses due to fraudulent on-us checks and deposits. By utilizing these software products and realizing a subsequent decrease in fraudulent activity, the bank is better able to focus on customer service and increase shareholder value. Carreker-Antinori's products - On-Us Check Fraud Detection SystemTM and the Deposit Fraud Detection SystemTM - are also being successfully utilized at more than 40 institutions across the country.
''We have implemented a comprehensive program of loss management that integrates technology, process analysis, control enhancements and education. PNC Bank has zero-tolerance for fraud and Carreker-Antinori has been a valuable partner in supporting our mission of reducing non-credit losses,'' says John Ericksen, Senior Vice President of Security Services, PNC Bank.
The On-Us Check Fraud Detection System was installed at PNC in September 1997. From the moment the product went live it began identifying fraud. The first day of implementation, the system identified a counterfeit check made out to a local car dealership. Not only did the bank stop payment on the check, but it was also able to contact the dealership to prevent their delivering the car to the thief.
The On-Us Check Fraud Detection System provides banks with the tools necessary to identify and stop fraud at the branch level. This is done by comparing check characteristics with account history and known criminal behavior (via bank-set rules).
The bank has had similar success with the Deposit Fraud Detection System since it was installed in February 1998. The system identifies and reports deposited transit items that have a higher-than-average probability of being fraudulent by deploying filter settings that detect suspect deposits based on criminal trends and behaviors. Once identified, the system allows banks to extend withdrawal holds per bank policies.
''Both the On-Us Check Fraud Detection System and the Deposit Fraud Detection System have played a role in our success in reducing fraud losses,'' according to Mike Merandino, manager of loss avoidance at PNC Bank.
PNC Bank Corp., headquartered in Pittsburgh, is one of the largest diversified financial services organizations in the United States. Its major businesses include Regional Community Banking, National Consumer Banking, Mortgage Banking, Private Banking, Asset Management, Mutual Fund Servicing, Corporate Banking and Secured Lending.
Carreker-Antinori, Inc. is a leading provider of integrated consulting and software solutions that enable financial institutions to increase their revenues, reduce their costs and enhance their delivery of customer services. The Company's offerings include revenue enhancement, payment systems, payment electronification and enabling technologies solutions. Carreker-Antinori assists banks in re-engineering their operations systems around integrated software applications to increase earning assets, develop new revenue sources, improve operating efficiencies and reduce check fraud losses. The Company's customers include approximately two-thirds of the largest 100 bank holding companies in the United States. Additionally, the company's product reach touches half of the U.K.-based check transactions. For more information about Carreker-Antinori, please visit our web site at www.carreker-antinori.com.
Forward-Looking Statements. This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based upon current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. The forward looking statements set forth in this press release are also subject to the public filings with the Securities and Exchange Commission by Carreker-Antinori, including those discussed under ''Risk Factors'' in the Company's Prospectus dated May 20, 1998.
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Contact:
Mike Tysarczyk, PNC Bank
(412) 762-8148
or
CARREKER-ANTINORI, INC.
Sissy Toney, President (IR)
Manager, Investor Relations / Corporate Communications
(PR)
(972) 371-1472 PH
(972) 661-9301 FX
Email: stoney@carreker.com
or
MAKOVSKY AND COMPANY
Michael Lendener, Asst. Vice
Jackson Ferry, Account Supervisor
(212) 508-9600
(212) 751-9710
Email: mlendener@makovsky.com
Email: jackson@makovsky.com
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