SYDEL LAUNCHES SOPHISTICATED BANCONCILE™ SOFTWARE TO MAKE DAILY RECONCILIATIONS QUICK & EASY

Coral Gables, FL September 5, 2003

Sydel Corporation today announced the launch of its ground-breaking BanConcile™ software for financial institutions. BanConcile streamlines the reconciliation of accounting transactions with the Federal Reserve and other crucial reconciliations by merging data from different sources into a comprehensive repository. The program eliminates the need for burdensome manual processing, while increasing data integrity and overall operational efficiency.

BanConcile includes three basic modules that can be adapted to meet an individual financial institution’s needs. They are:

• BanConcile Administrator – a Web-based application that allows users to soft-code rules for implementation throughout the system and define general system administration requirements.
• BanConcile Monitor – a Windows® based application that allows the financial institution to extract pertinent data from accounting information sources and from back office banking databases. The system will verify the successful completion of uploading procedures and provide data integrity.
• BanConcile Reconciler – a Web-based application that allows multiple reconciliations based on BanConcile Monitor extractions. This module manages daily reconciliation sequencing and tracking of open items, and provides various useful searches and management reports.

“BanConcile is designed to help bank operations personnel generate fast, accurate information they can employ in making their operations smoother and timelier,” said Antonio Gonzalez, Director, Sydel Corporation. “In addition to having information readily available for critical operations decisions, the program can also help reduce the fixed labor costs associated with having dedicated staff to reconcile the general ledger with the Federal Reserve every day.”

About Sydel Corporation
Sydel Corporation is dedicated to developing customized information technology solutions for the financial services sector to enhance operations and boost revenue. Based in Miami, Florida for over five years, the company provides consulting services that have led to the creation of applications that are based on the latest proven technological platforms and multi-functional. For more information, please visit www.sydelcorp.com.