RemitStream Solutions

VICOR Awarded Contract From RemitStream Solutions for its RIDS Lockbox Processing Platform

Contact: Mike Dignen, VICOR, Inc.
610-524-5950 or mdignen@vicor.com

RICHMOND, CA, July 21, 2003 - VICOR, Inc., a leading provider of end-to-end solutions for image-enabled lockbox processing and receivables management, announced today that it has been awarded a contract from RemitStream Solutions, a business unit of Fiserv, Inc., that provides third-party remittance and lockbox services to financial institutions.

Under the agreement, VICOR will install the wholesale and wholetail lockbox processing modules of its RIDS (Receivables Information Delivery System) platform at RemitStream's operations center in Southern California. Additionally, RemitStream will implement RIDS at additional sites, as customer demand warrants; each RIDS installation will feed into the RemitStream backend system in Chicago, providing corporate clients with a common output across the processor's nationwide lockbox network. RIDS also will create CD-ROM output of lockbox information for select corporate clients. RemitStream represents VICOR's largest non-bank customer and outsourcing processor.

RIDS is a highly scaleable, feature-rich client-server platform that offers banks and third-party processors unique capabilities for seamlessly processing retail, wholesale, and wholetail payments. RIDS was the first to combine color imaging and the ability to provide clients with intra-day delivery of receivables information (data and images of checks, envelopes, and supplemental documents) via the Internet. The system has been deployed in 21 locations at U.S. financial institutions processing multi-millions of monthly payment transactions.

"RemitStream Solutions expects its operations to grow at a considerable pace. We needed a vendor that shared our view of the future of payment processing and receivables management and a platform that could scale with our volumes, provide tremendous flexibility in terms of processing and customer service, and offer fail-safe reliability and dependability," stated RemitStream Solutions President Anna Quinlan. "The VICOR technology will help us increase our operational efficiency and deliver enhanced services to our clients."

As an innovative third-party processing provider, RemitStream required a technology platform that adapts to the changing marketplace. VICOR's solution and its wide range of optional modules - including components for robot keying, forms processing, and online accounts receivables collaboration - enable flexibility for the future even as they provide a stable foundation for current customer relationships and overall processing operations.

"RemitStream Solutions has built a reputation for providing customer service above and beyond the norm. We are proud that VICOR's technology will contribute to that reputation as RemitStream grows," stated Bob Kirk, president and chief operating officer of VICOR. "We work hard to help our users maximize their investment in lockbox infrastructure. RIDS will allow RemitStream to consolidate and deliver detailed information from multiple lockbox sites across the nation, providing increased service and a simplified operations environment. Other benefits of the technology include increased operational efficiency, enhanced delivery options and additional levels of information for streamlining exceptions handling, making RIDS a strong foundation for RemitStream's future growth."

RemitStream Solutions

RemitStream Solutions LLC is a joint venture formed in July 2001, which is managed by Fiserv, Inc. and jointly owned by Fiserv and The Northern Trust Company. Headquartered in Chicago, Illinois, RemitStream Solutions carries on the tradition of providing wholesale lockbox services that was established in 1954 as the Lockbox Division of The Northern Trust Company. To learn more about RemitStream Solutions please call 312-660-5185 or visit RemitStream Solutions Web site at www.remitstream.com .

Fiserv, Inc, (NASDAQ: FISV) has been delivering information technology solutions to the financial industry since 1984 and presently has more than 18,000 employees. A leading technology resource, Fiserv is an independent, full-service provider of integrated data processing and information management systems. The company serves more than 13,000 financial service providers worldwide, including leading banks, broker-dealers, credit unions, financial planners and investment advisors, insurance agents and companies, mortgage banks, and savings institutions. Fiserv is headquartered in Brookfield, WI.

VICOR, Inc.

VICOR is a leading provider of image-enabled receivables processing solutions. VICOR's flagship product, called RIDS (Receivables Information Delivery System), is the first payment processing and cash management platform to offer full-color images and intra-day delivery of receivables information via the Internet and other publishing options. Currently installed in 21 sites, RIDS processed over 100 million transactions in 2002, representing more than $1.2 trillion. VICOR is headquartered in Richmond, CA, and is privately held. For more information, call 510-621-2000 or visit VICOR's Web site at www.vicor.com.