Labe Bank Upgrades Fraud Detection Technology With SQN Banking Systems

RANCOCAS, N.J., Aug. 21, 2006 – SQN Banking Systems, a leading provider of integrated fraud detection and process improvement products for the financial industry, announced the successful integration of SENTRY: Signature^TM at Labe Bank in Chicago. SENTRY: Signature displays captured electronic signatures and photo IDs detecting fraud at the teller station. Labe Bank has $550 million in assets and some 14,000 customers.

“It has increased processing speed in our back office,” said Rick Uppling, assistant vice president of information systems for Labe Bank. “There has been a considerable time saving for our operations employees and our customer service department and there’s the added benefit of having a driver’s license option to check our customers’ identity instead of just relying on signatures. As far as fraud prevention is concerned, it’s going to be invaluable.”

SENTRY: Signature works seamlessly with most teller applications to provide fast online signature display for tellers and back office personnel at banks of all sizes. The signatures can be used for a wide variety of applications, such as branch display, exception item processing, and automated signature comparison, helping to facilitate the payment decision process and quickly detect fraud.

Uppling reports that SQN has been very supportive throughout the integration process. “Anybody can sell you a service or a product, but they need to put their money where their mouth is as far as ongoing support of the product,” said Uppling. “In any corporate environment, there are many unknowns – generally referred to as ‘users’. Things happen all the time. Whenever I call SQN, I get the same patient service and follow-through that I initially got. If they can’t help me out immediately, they forward me on to the next level so that we can get the problem resolved.”

“Our commitment to providing financial institutions with innovative solutions that will help tellers and other personnel combat possible fraud is ongoing,” said Charles Costanza, vice president of business development at SQN Banking Systems. “There is no reason why bank personnel shouldn’t have immediate access to the important information that will protect not only their customers, but also their bank’s bottom line.”

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.

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