Penson Selects RemitPro for Automated Cash Receipts Processing

OMAHA, February 10, 2005: RemitPro announced today that Penson Financial Services, Inc. has selected eRemitPro, a solution that provides electronic check processing for the financial services industry.

"RemitPro’s check conversion tool allows us to more efficiently process incoming checks from our customers, while providing improved risk management through more timely collection of funds" said Daniel P. Son, President, Penson Worldwide, Inc.

Penson will use the eRemitPro product in their Dallas, Texas headquarters operation. eRemitPro is a remote desktop data and image capture tool offering a combination browser and Windows®-based system. This technology enables Penson to capture images of checks and enter cash receipt information into the eRemitPro system, thus eliminating the need to make a physical deposit at the bank. Faster funds availability, reduced risk and operational efficiencies are several of the benefits of this new technology.

"eRemitPro provides Penson with a remote desktop data and image capture tool that allows them to create electronic items from paper checks in accordance with ACH and Check21 standards. Penson will benefit from greater operational efficiencies and reduced risk," said Jana Waughn, President of RemitPro. "We are very excited to have Penson as a client and look forward to building a long-term relationship with them," she said.

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