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Sep 25, 2008—Gladiator Technology Launches Policy Solution for Remote Deposit Capture (RDC) Technology

MEDIA RELEASE

Program Designed to Help Financial Institutions Protect Themselves and Comply with Upcoming FFIEC Guidance

September 25, 2008

Gladiator Technology, the ProfitStars® solution that operates as a managed security services provider (MSSP) exclusively for financial institutions nationwide, today announced the availability of its new remote deposit capture (RDC) policy solution and the supporting RDC Risk Assessment Matrix. This practical new policy solution enables financial institutions to develop policies, procedures, and standards that help them effectively manage RDC technology, proactively protect their institution, and comply with the related regulatory and compliance requirements.

According to Danny Johnston, group president of Gladiator Technology, “Remote deposit capture, which allows commercial entities to convert paper-based checks into electronic deposits, is one of the fastest growing technologies in the financial industry. In order to effectively implement and manage any new technology like RDC, financial institutions must establish standards for use and address the related regulatory and compliance guidelines. A successful management strategy for RDC technology must involve a strategic combination of IT regulatory guidance, best practices, and industry standards. And Gladiator’s new RDC policy solution offers just that. We have designed a practical approach to developing the policies, procedures, and standards that will help our clients comply with the related FFIEC RDC guidance which we anticipate will be finalized during the next several months.”

Jackie Marshall, Gladiator’s director of IT regulatory compliance, reported, “The world of compliance is constantly evolving and it is challenging for most financial institutions to stay on top of the dynamic regulatory guidance. In response, we offer a library of policy solutions that help our clients formulate plans to address specific compliance issues. Although the federal guidance specific to RDC technology has not been finalized, recent exam trends clearly indicate RDC best practices. The current FDIC IT exam work program encourages financial institutions to proactively assess the risk associated with new technologies six to 12 months prior to implementation. Unfortunately, many financial institutions skip this important step and may have inadequate standards and security controls in place for contemporary technologies like RDC.”

This new Gladiator policy program encourages a proactive rather than reactive approach to addressing RDC technology management and incorporates a comprehensive RDC Risk Assessment Matrix. Program strategies for RDC technology management include building a platform using previous guidance as a reference, incorporating best practices and industry standards, and fine-tuning the policy when the guidance details are released. Realizing that policies will likely need some adjustment based on the final guidance, Gladiator is offering new RDC policy customers complimentary updates for up to 12 months.

About Gladiator Technology

Based in Atlanta, Gladiator Technology is a managed security services provider (MSSP) focused specifically on information security protection for the financial industry. The company helps more than 500 financial institutions nationwide secure networks and protect financial data in adherence with Federal Financial Institutions Examinations Council (FFIEC) regulations. From security monitoring and consulting services to technology management training and IT compliance management products, Gladiator Technology functions as one of the fastest-growing Internet and network security companies in the nation. For additional information about Gladiator Technology, please call 877-GLADTECH or visit us at www.gladiatortechnology.com.

Gladiator Technology is a solution provided by Jack Henry & Associates’ ProfitStars division.

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 8,800 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking™ supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar™ is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars 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.

 

 
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