Credit Guides And Credit Services

CardWorks to Deploy Incurrent's InSite Product Line to Expand and Control Co-Branded Web Sites

Incurrent and CardWorks Collaborate to Provide Enhanced Web-based Cardmember Card Products and Services to Card Issuers

PARSIPPANY, N.J.--(BUSINESS WIRE)--June 21, 2004--

Incurrent, the leading provider of a Cardmember Care suite of products for the credit card industry, announced today that CardWorks will deliver its service offering through the web-channel via Incurrent's InSite(TM) product line, which enables online bill payment and statement presentment for clients' cardholders.
CardWorks delivers customized bankcard servicing, including high-quality customer service, collection solutions and risk management that allow issuers to successfully meet the challenges of today's increasingly competitive bankcard environment with best-in-class technology, improved operating efficiencies and increased profit potential.

The relationship with Incurrent will empower CardWorks to effortlessly co-brand and manage its numerous Web sites. "We chose Incurrent because of the variety of services that it offers," said Donald M. Berman, Chairman and CEO of CardWorks. "Incurrent's products will permit cardholders to view multiple credit card accounts with one user name and password, use the Online Message Center to contact customer service, create reports and set up online payments, to name a few of its innovative features. It gives us the flexibility to manage site content on our own, while evolving our product line and lowering cost of ownership."

CardWorks is incorporating a number of InSite products, including InSite Account Maintenance and InSite Billing. It is also taking full advantage of InSite's Integrated Issuer Controls, including the Inquiry Manager and the newest module, the Content Manager, which is an enhanced component that empowers CardWorks employees to make cost-effective branding and text changes to its various web sites, rather than having Incurrent or an additional service provider perform the work.

According to Incurrent Chief Marketing Officer Bill Kinnelly, the relationship between the two companies has already begun to pay off as the companies, separately, and now together, have strived toward developing innovative products and services. "They have already started working with us to validate new product ideas," he said. "It is a mutually beneficial relationship. We've given CardWorks the ability to bring on new portfolios and they have given us the opportunity to expand the use of our products at leading issuer organizations and afforded Incurrent the potential to establish another channel of distribution."

The growing relationship with CardWorks is possible due to Incurrent's recent shift in focus to concentrate on more R&D and to develop new product offerings aimed at better serving the credit card vertical niche. Kinnelly adds, "Every day, we continue our evolution from being a professional services company to being a product company, with offerings that allow issuers to adapt our products to their particular needs."

About CardWorks

With its corporate headquarters in Woodbury, NY, CardWorks is the parent company of Cardholder Management Services (CMS), a leading third-party bankcard servicer that provides financial institutions and non-traditional card issuers in the U.S. and Canada with a full range of world-class servicing and support solutions. CardWorks provides services for banks, financial guarantors and credit card issuers that enable them to economically pursue their own goals and objectives while meeting all legal requirements. The services CardWorks provides are transparent to cardholders, with specifications driven by each individual organization's needs.

About Incurrent

Founded in 1997, the Company numbers among its clients leading institutions such as MBNA Business Lending, Citibank, Target, Metris, Certegy and Fiserv. With 130 million card accounts under management, Incurrent's InSite(TM) product line is among the most widely adopted electronic banking systems in use today. Fully integrated with all leading back-office third party processing systems, including First Data, Total Systems, Certegy, and PaySys, Incurrent represents a fast, cost-effective and low-risk means of providing Cardmember Care. Incurrent clients are consistently placed in the top of industry rankings based on site performance, stability, features, and ease of use.

Incurrent develops and operates advanced online products for financial institutions in the global payment card industry, including issuers of consumer, small business, purchasing card, corporate T&E, and private label cards. These products are used directly by cardmembers, commercial clients, and issuer employers. Incurrent's products enhance all aspects of the relationship with the cardholder: from account development and servicing to loss prevention.

Contacts


for Incurrent
Cindy Golisch, 847/229-1036
cindy.golisch@prunlimited.com
or
for CardWorks
Jean Rompre, 516/576-0404 ext 2288
JeanR@CMS-LP.COM

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