Wells Fargo installs SYNORAN's Net Settlement System

COLUMBUS, Ohio, Sept. 16, 2004--SYNORAN, an enterprise software and services provider, announced that it has licensed its next generation Net Settlement System (NSS) to Wells Fargo, a premier global financial services provider.

Wells Fargo has completed acceptance testing and installation of the new system. The Net Settlement Solution provides capabilities that enable a new clearing and settlement approach that is faster, more flexible, and more cost-effective for both internal and external settlement than any of the current alternatives.

"The need for new net settlement capabilities associated with digital payments and information exchange is significant, and SYNORAN's solutions and expertise provide those capabilities", said Webb Edwards, President of Wells Fargo Services. "The NSS solution goes beyond simple settlement. Now we can better drive internal operational efficiencies and are able to provide new payment services."

Kevin Dabney, Wells Fargo Services EVP of Payment Strategies stated, "There has been considerable focus on the Check 21 legislation and its implementation on October 28th. However, there is a great deal more to the future of payments than simply digitizing a check and managing the IRD (Image Replacement Document). SYNORAN's Net Settlement Solution is a Java-based application operating on an Oracle Linux platform, and provides us yet another tool to more quickly offer improved payments processing and product offerings."

Wells Fargo can leverage the solution to provide an intraday view of net positions for correspondent banks, the bank's line of businesses, merchants, and other financial service providers. The NSS solution leverages key patents to provide Wells Fargo with national net settlement capabilities between partners and downstream institutions. With the current functionality and with that of the fourth quarter release from SYNORAN, Wells Fargo will have the ability to:

-- Settle multiple payment types, including checks, cash, imaged checks, Image Replacement Documents (IRDs), wires, and other payments exchange instruments.

-- Establish multiple daily settlement periods.

-- Settle with the Federal Reserve and other inter-/intra-institutional settlement or information exchange service providers.

-- Monitor and report on compliance requirements, governance rules, organizational models, business and operational structures, and comprehensive billing by partner/by service.

-- Establish the settlement foundation for new shared services, such as image assurance, identity authentication, funds verification, multi-currency exchange, archiving and retrieval.

Bill Randle, SYNORAN's CEO, was excited to partner with Wells Fargo due to the depth and commitment of their vision and industry leadership. "Several analysts and institutions have been discussing the digitization of payments over the past decade. Wells Fargo has seen the new opportunities resulting from the Check 21 legislation, and will be positioned to truly accomplish straight-through payments processing."

About Wells Fargo

Wells Fargo & Company is a diversified financial services company with $420 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,000 stores and the internet ( across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only "Aaa"- rated bank in the United States. Visit Wells Fargo at


SYNORAN(TM) delivers software solutions that enable safe-sound-secure information exchange - anytime - anywhere. Over 15 years investment in these technologies have resulted in real-time solutions that target customer and payments drivers for banks, commercial corporations, information processors, archives and service providers. Built on one of the most advanced technology foundations in the market today, SYNORAN's patented solutions deliver unmatched customer and payments functionality on a reliable, scalable, and flexible platform.

Headquartered in Columbus, Ohio, SYNORAN was organized in June 2000 to initially address the IT complexity challenges in the financial services industry. The company has built strategic relationships with both the original investors in the company and with world-class service solution providers, including Hewlett-Packard (NYSE:HPQ), Electronic Data Systems (NYSE:EDS), Oracle (NASDAQ:ORCL), SAIC and Corillian Corporation (NASDAQ:CORI).

For more information, please visit or call Mitch Zoellner at 888.530.0340.

Harsha Kolli, 888-530-0340

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