Carreker names Olson to lead offshoring subsidiary; promotes Inman

Source: Carreker Corporation

Carreker Corporation (Nasdaq: CANI), a leading provider of technology and consulting solutions for the financial industry, announced two organizational changes today.

Robert M. (Bob) Olson has been named president and chief executive officer of Carretek, LLC, Carreker's offshoring subsidiary.

Michael J. (Mike) Inman has been named executive vice president of Carreker Corporation and assumes Olson's previous responsibilities for relationship management and marketing worldwide.

J. D. (Denny) Carreker, chairman and CEO of Carreker Corporation, said, "We are pleased to have the management depth that allows us to provide strong leadership to Carretek at an important juncture in the development of the offshoring space, while still leveraging experienced leadership in our relationship management organization."

He added, "We recognize that many U.S. banks are focused on carefully assessing their offshore opportunities in back office operations. Bob Olson's relationships with these individuals, and his own hands-on experience in managing banks' back office functions that are now candidates for offshoring make him the perfect choice to lead Carretek. Likewise, Mike Inman's experience managing our relationship management in the Americas will be valuable in bringing scale and consistency to our worldwide relationship management initiatives."

Olson has been with Carreker for ten years, most recently as head of relationship management and marketing worldwide. Inman has been with Carreker for eleven years, most recently as head of relationship management for the Americas.

Carretek is Carreker's offshoring business in partnership with Majesco Software Inc., a subsidiary of Mastek Limited, a leading global outsourcing company. A number of developments - including the proliferation of imaging technologies, the pressure on banks to reduce payment processing costs, and the cost-effectiveness of telecommunications and encryption technologies - are combining to make offshoring of back office check processing functions increasingly feasible and financially attractive. Carretek is uniquely positioned to assist financial institutions in that regard.

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