SQN BANKING SYSTEMS AND CIC SIGN STRATEGIC LICENSING AGREEMENT
-SQN Banking Systems Optimize Fraud Detection with CIC’s Biometric Signature Solutions-
Redwood Shores, CA and Rancocas, NJ, January 21, 2004 – (OTC BB: CICI) Communication Intelligence Corporation(“CIC”), the leader in
biometric signature verification, and SQN Banking Systems™ (“SQN”), a leading provider of check fraud detection and signature technology to banks throughout
the United States, announced today that they have entered a strategic licensing agreement.
Under the terms of the agreement SQN will incorporate CIC’s biometric and electronic signature products into SQN’s teller and new account opening applications
thereby enabling real-time verification of biometric signatures and the binding of signatures to the content of the documents with CIC’s patented, tamper-resistant technology.
“SQN’s suite of products and unique approach to fraud detection are a natural fit for CIC and we are extremely pleased about this alliance,” stated Guido DiGregorio, CIC’s Chairman & CEO.
“Based on its significant presence and market leadership in the financial services industry we look forward to our partnership with SQN accelerating the adoption and deployment of our
technology within this market.”
SQN has been providing static signature verification systems for check fraud detection and banking automation systems for over 20 years and as the leading provider of signature verification
and integrated check fraud prevention software it currently serves eight of the top ten banks in the US. SQN clients range from large banks such as Bank of America, Wells Fargo, JP Morgan,
Chase and Wachovia to community banks such as Gloucester County Federal Savings Bank.
The banking industry has become highly competitive and the use of technology is critical for insuring the highest level of security, improving processes that affect the bottom line and
maintaining a satisfying customer experience. The ability to use CIC’s technology to further reduce fraud loss and to extend SQN’s offering for banking process automation targets these
needs and enables SQN’s clients to benefit from a rapid ROI due to better fraud protection.
“We chose CIC because of its established leadership position in the industry and expertise in biometric and electronic signature solutions,” said Joe Uhland, President of SQN.
“Incorporating CIC’s superior technology into our product offerings provides an effective and well-accepted tool to verify a customer’s identity thereby significantly improving
fraud detection. This addresses our need for deploying complimentary technology which serves the evolving requirements of our clients.”
About CIC
Communication Intelligence Corporation (“CIC”) is the leading supplier of biometric signature verification and natural input software and a leading supplier of electronic signature solutions
focused on emerging, high potential applications including paperless workflow, handheld computers, smartphones and eCommerce, enabling the world with “The Power to Sign Online®”. CIC’s
products are designed to increase the ease of use, functionality, and security of electronic devices and eBusiness processes. CIC sells directly to OEMs and Enterprises and has products
available through major retail outlets such as, CompUSA, Staples, OfficeMax, and key integration/channel partners or direct via our website. Industry leaders such as Charles Schwab, Fujitsu,
Handspring, IBM, Oracle, Palm Inc., Prudential, Siebel Systems, Sony Ericsson and TVA have licensed the company’s technology. CIC is headquartered in Redwood Shores, California and has a
joint venture, CICC, in Nanjing, China. For more information, please visit our website at http://www.cic.com.
About SQN Banking Systems
For more than 20 years, SQN Banking Systems has provided integrated fraud detection and process improvement products for the financial industry, meeting the needs of financial institutions of all sizes. The SENTRY suite of products includes software for exception item processing, image fraud detection tools, automated signature comparison, signature verification and display, transaction analysis and safe deposit operations management. More than 500 SQN customers have improved their earnings and reduced check fraud losses by as much as 84 percent with SENTRY. For more information, visit SQN's Web site at www.sqnbankingsystems.com.
CIC, its logo and the Power to Sign Online are registered trademarks. SQN Banking Systems, the SENTRY logo and product names are trademarks of SQN. All other trademarks and registered
trademarks are the property of their respective holders.
Forward Looking Statement
Certain statements contained in this press release, including without limitation, statements containing the words “believes”, “anticipates”, “hopes”, “intends”, “expects”, and other words
of similar import, constitute “forward looking” statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties
and other factors, which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other
circumstances which could delay the sale or shipment of the products; (2) economic, business, market and competitive conditions in the software industry and technological innovations which
could affect the Company’s business; (3) the Company’s inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others
or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.
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