Athens, GR, October 29, 2004 - CubeIQ Ltd. , an IT company provider of software solutions and systems for financial and corporate institutions, today announced the launch of the new release of iRecognIzer©, a software application for the scanning and complete processing of private and bank cheques in banks, financial institutions and corporations.   

iRecognIzer© is design to operate in banks, financial institutions and corporations that need to accept daily a large number of private cheques in multiple points and then process them either at the point of acceptance or in a central processing center. In the first case the application produces locally a file with all cheques details, in order this file to be imported in the main payment application of the institution, and a copy of the cheque images for archiving purposes. In the second case the application transfers the scanned images of the cheques to the central processing center for processing. iRecognIzer© can operate also in institutions that outsource the processing of their cheques.  

The new release will enable banks and financial institutions, existing and new customers to increase their internal procedure automation, increase their employees productivity, decrease the processing cycle period, decrease their cheque processing cost, increase system readability and performance and finally increase the security of the system by enchasing the audit trail capabilities of the system.

Following company's usual approach for launching a new product release, release 2.50.xx, has a number of enhancements and improvements that part of them were request by existing customers and a part of them were defined by the product management team of the company.   

The new release has enriched user interface, optimized cheque processing and integrates a mew module for processing Post Dated Cheques - PDCs. PDCs are a usual mean of payment in the South Europe and in many regions around the world. The new module makes the system suitable for factoring companies and corporate departments of bank that accept PDCs as collateral for business loans. This new functionality decreases the ROI period making the application more appealing to prospect customers.   

More information can be found at the link www.cubeiq.gr\solutions\s_irecognizer_1.htm.

About CubeIQ

CubeIQ Ltd. - www.cubeiq.gr - is a leading provider of software solutions, systems, business process re-engineering solutions and professional services to banks, financial institutions and corporations in South and East Europe. CubeIQ's portfolio of solutions and systems include: Item & Document - Cheque Processing Systems, Cheque Book Issuance Systems, Fraud Detection & Prevention Systems, Anti Money Laundry Systems, Electronic Transaction Processing & Card Management Systems, SWIFT Reconciliation and Messaging Applications, Document Management & Electronic Workflow Systems, Prepaid Services Electronic Distribution Systems, SMS Messaging Systems, Electronic Loyalty Systems and a number of specialized equipment such as Cheque Scanners, Encoders, Sorters, Cheque Book Issuance Machines, Single & Dual Terminal Cash Dispensing - TCDs and Cash Recycling Machines - TCRDs, Cheque Book Dispensing - Cheque Deposit, Bill Payment and Multifunctional Terminals, specialized Automatic Teller Machines - ATMs, Cash Deposit, Cash Recycling and Multifunctional ATMs. CubeIQ was established in 2003 by a group of professionals with long and successful presence in the Greek banking market. The company is specialized in Business Process Re-engineering focused in the Banking and Electronic Transaction Processing Market. Our leading-edge software solutions can transform business processes in a more efficient, more productive and cost saving way.

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Media Contacts:

CubeIQ Media Center

CubeIQ Ltd.

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