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Alogent’s Image and Data Exchange Solution Selected by SunTrust

BAI TransPay, LAS VEGAS, May 19, 2004  – Alogent Corp., a provider of payment transaction processing solutions for global financial institutions, remittance processors and payment processors, today announced that SunTrust Banks, Inc., one of the nation’s largest commercial banking organizations, has selected its Sierra Xchange®™, Unified Payments Gateway™ solution, which operates as an intelligent payment processing and image exchange engine. 
Brian Geisel and Lee Crocker (Senior Vice President of SunTrust) shaking hands at TransPay 2004

Using Alogent’s Sierra Xchange®, which collects, corrects, balances and distributes paper, data and image transactions from all points of origination to multiple, configurable endpoints, SunTrust will perform image quality analysis, and send and receive images and data through image cash letters. Images and data will initially be received from and sent to the Viewpointe Image ShareTM service. Viewpointe is the largest national shared archive for check image and retrieval services. In addition, Sierra Xchange® will perform image quality analysis on images from the SunTrust in-house image capture systems. SunTrust will benefit from increased processing quality and speed, and reduced costs, as well as from a platform that provides a transparent transition to image exchange.

"As image exchange agreements, quality standards and third-party clearinghouse participation continue to evolve, banks are challenged with accommodating a variety of image exchange alternatives, as well as near constant adaptation to change,” Brian Geisel, CEO of Alogent, said.  “While banks can implement varied solutions to accommodate multiple imperatives, SunTrust has recognized it is far more efficient and cost effective to partner with a company that can provide a flexible payments gateway to accommodate all inputs, outputs and workflows. We are extremely pleased to assist SunTrust with its transition to full image and data exchange."

SunTrust Senior Vice President, Lee Crocker, said, “Our partnership with Alogent is a key step in the recognition of our image share and exchange objectives.  With the Sierra Xchange® solution SunTrust will be positioned to more rapidly adapt to the changing payments landscape, while continuing to provide exceptional service to our customers.”

“Financial institutions need to re-engineer their check processing operations as they deal with reduced volumes and check truncation,” said Robert Hunt, senior analyst at TowerGroup. “This revitalization of the business process, however, has to be aligned with systems that are highly scalable for meeting peak demands and are flexible in design to meet changing business and regulatory requirements.”

The paper payments processing landscape is transitioning to a mix of paper, data and image.  Sierra Xchange® enables banks to efficiently converge paper, data, and image to process both intrabank transactions originating at branches, ATMs, cash vaults and merchant locations, as well as interbank data and image exchange. 

About SunTrust

SunTrust Banks, Inc., headquartered in Atlanta, Georgia , is one of the nation's largest commercial banking organizations. As of March 31, 2004 SunTrust had total assets of $125.2 billion and total deposits of $80.9 billion. The company operates through an extensive distribution network primarily in Florida , Georgia , Maryland , Tennessee , Virginia and the District of Columbia and also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance, brokerage and capital markets services. SunTrust's Internet address is www.suntrust.com.

About ProfitStars

ProfitStars, a division of Jack Henry & Associates, Inc., provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control; and complement virtually any core information processing platform. Additional information is available at www.profitstars.com.

About Jack Henry & Associates, Inc.

Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 11,800 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking(TM) supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar(TM) is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars(R) provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.

Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.

SOURCE Jack Henry & Associates, Inc.

http://www.jackhenry.com

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