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Press Release

Scivantage eAccounts Powers New Retail Online Brokerage Zecco.com's Account Opening Platform

Oct 30, 2006

NEW YORK – October 30, 2006 – Scivantage, the premier provider of web-based, front- and middle-office brokerage solutions, today announced that Zecco.com, the new zero-commission online brokerage, is live with its account opening platform powered by Scivantage eAccountsTM and its rules-based decision engine, Scivantage eDecisionTM.

Zecco.com supports a full range of account types including cash, margin, joint and options accounts. Zecco.com's eAccounts implementation will employ a unique single signature capability to capture customer acceptance of all aggregated account documents. The site will then generate all appropriate accompanying documentation as a PDF file. eAccounts will also employ the Scivantage eDecision decision engine for account-opening rules and to validate and provide exception handling.

“We're very excited that Zecco.com chose Scivantage as their partner in this project,” said Adnane Charchour, President and CEO of Scivantage. “This collaboration further validates our mission to save professional trading institutions time, energy and money in order to provide their clients with exceptional products and services.”

“Outsourcing this aspect of our brokerage technology to Scivantage frees us to focus even more intently on human factors in bringing new customers onboard,” said Zecco's Chief Technology Officer, Nick Gianniotis. “Scivantage's eAccounts is best of breed, and it gives us assurance that Zecco will always be able to meet our clients' needs. This way we can take the best and design the rest. We have a roadmap for continual improvements to the account origination process. As we expand into other profitable financial products, the Scivantage solution gives us a flexible robust engine to bring on new accounts.”

Gianniotis cited eAccounts' flexible, rules-based framework, its regulations and automated exception processing, and its multi-channel user input as the compelling reasons for the application's selection. “With eAccounts, we know we're covered by Scivantage's vast command of securities rules and regulations,” he said. “The technology has evolved enormously, and this allows us to take advantage of a superb system, allowing us to focus our attention elsewhere.”

Scivantage eAccounts is an advanced account opening and administration solution, targeted towards retail investors, brokers, sales assistants and operations personnel. eAccounts address all the complex integration issues involved with account opening, allowing firms to lower their operational costs and enhancing their client experience. eAccounts employs Scivantage eDecision, an integrated decision support and workflow system to ensure the proper information is captured and validated immediately based on the type of account, not only when opening new accounts but also during account maintenance. eDecision instantly reviews applications and customer requests based upon firm-defined business rules and will reject or route the request to the appropriate department within your firm for further review when exceptions occur. Business rules and workflows can be configured at any time through a web interface. eAccounts also provides a comprehensive audit trail which can be saved indefinitely and also provides flexible new account numbering options, pre-fills and generates all required customer documents, and is Patriot Act compliant.