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Selects System for its Value, Flexibility & Speed of Deployment

New York (July 19, 2012): Aithent™ Inc. (www.aithent.com) a creator of high‐value compliance and information management solutions for financial institutions, today announced Michigan First Credit Union (www.michiganfirst.com), a full‐service credit union with more than $620 million in assets based in Lathrup Village, MI, has chosen its Aithent Fraud Manager℠(AFM) fraud and AML risk management solution.

“With Aithent we found a system that fulfilled our need for an effective way to track the ‘risk’ to our credit union as well as the dollar loss prevented and report everything in a clear and complete manner to the credit union’s executive management,” said Jeff Rolph, Michigan First’s director of risk management. “What sets the Aithent Fraud Manager solution apart from other case management systems is how well it addresses the issues of affordability, flexibility or customization and rapid implementation.”

A professional who’s been involved in security and fraud investigations for three decades, Rolph sees case management as being vital to the control and prevention of fraud and financial crimes like money laundering: “There are other systems on the market that could have handled our needs but they were too big and too expensive and would have taken up to six months to implement.”

“Aithent is pleased to welcome Michigan First to our growing group of customers, all of whom were looking to implement a single, highly capable case management solution across the enterprise,” said N. Venu Gopal, Aithent’s CEO.

Commenting further on the Aithent system, Rolph noted “the flexibility was very impressive. Almost every field can be customized to fit the needs of the credit union. Some of these include the type of case, subcategories, check or loss type, incident origin, source, case status and more. It also gives us the ability to add and name other investigative units to use the system, segregate one group from another and add users, assigning them access rights. Further, we’re able to scan all case documents into the case file, including surveillance photographs, case notes and transactional fields as well as file SARS right from the system. And, it has a robust search function.”

The Aithent system was fully functional within four weeks and the Michigan First risk team has been able to track cases, report by case volume and type, review cases to ensure proper follow‐up, even deal with questions involving closed cases with ease. Preparing a case for law enforcement is also fast and easy. With one click of a mouse, all the information necessary to turn a case over to law enforcement is printed out and ready for that agency.

Today, as a result of Michigan First’s use of Aithent Fraud Manager, its’ executive management team has a clear picture of fraud management at the credit union. The system lets the risk team produce real‐time reports on risk, loss prevention, recoveries, number and types of losses and more.

AFM handles fraud and AML risk management, investigation, restitution and regulatory compliance in a cohesive and comprehensive manner. The Aithent solution brings a unified approach to the control and management of check, debit card and wire fraud, bank secrecy and money laundering violations as well as internal or external corporate security breaches. It automates investigatory and compliance processes to help yield better outcomes and reporting to law enforcement agencies, the Financial Crime Enforcement Network (FinCEN) of the U.S. Treasury and institutions’ boards and auditors, among others. A configurable solution that can be integrated with any popular detection system or core processor, AFM is available either as an installed solution or a hosted one.

About Michigan First Credit Union

Founded in 1926 by a small group of Detroit teachers, Lathrup Village‐based Michigan First Credit Union (MichiganFirst.com) has grown into a $620 million financial institution serving more than 86,000 individuals and local businesses in Wayne, Oakland and Macomb counties. An industry leader in consumer ‐ focused technology and dedicated customer service, the credit union is also significant supporter of local financial education and community organizations through the Michigan First Foundation, which donates $100,000 to more than 75 local nonprofits each year. For the latest news, and events, Follow Michigan First on Twitter at http://www.Twitter.com/MichiganFirstCU or “Like” Michigan First on Facebook http://www.Facebook.com/MichiganFirstCreditUnion.

About Aithent

Since 1991, Aithent has helped advance operational efficiency while reducing the cost and risk associated with compliance by developing and applying technology in uniquely effective ways. The company has been involved in the development and implementation of financial crime prevention and investigation technology since 1998. Aithent is headquartered in New York. For more information, visit www.aithent.com or call 212 ‐ 725 ‐ 7646.

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