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KAZ and ANZ Jointly Patent New Cheque Processing System

Document date:  Fri 07 Dec 2001
Published:  Fri 07 Dec 2001 11:21:23
Document No:  251212
Document part:  A
Market Flag:  N
Classification:  Other


HOMEX - Sydney                                                        

The Directors of KAZ Computer Services Limited ("KAZ") are pleased 
to announce that it's 100% owned subsidiary Ausdata Pty Ltd 
("Ausdata") and the Australian and New Zealand Banking Group 
Limited ("ANZ") have jointly patented a new and innovative system 
for Proof of Deposit (POD) cheque processing.

Marketed under the VIPS (Voucher and Image Processing System) brand, 
the POD system took 18 months to develop and delivers a significant 
cost saving over other imaged based POD systems available today.

Leveraging ANZ's knowledge of cheque processing operations and 
Ausdata's technical expertise, the development team were able to 
enhance Ausdata's own DIPS (Document Imaging and Processing System) 
product to deliver a world class POD system.

After a successful implementation at ANZ, VIPS has been able to 
deliver the bank a 30% cost saving. Now ready for general release, 
VIPS offers significant revenue potential from global sales 

Mr Peter Kazacos, the Managing Director of KAZ, said, "This new 
innovation in Proof of Deposit processing has created significant 
interest within the global banking community and by patenting the 
technology, KAZ will be able to use its intellectual property as a 
competitive advantage".

For further information please contact:

Charles Dunn
Ausdata Pty Ltd

Phone: 0418 266 678