FRAUD PREVENTION EXPERTS SHIRLEY INSCOE AND MIKE MULHOLAND JOIN MEMENTO

Banking Industry Veterans Will Help Fraud Detection and Compliance Software Company Continue To Expand Emerging Threat Prevention Portfolio

CONCORD, Mass., Feb. 5, 2008 – Memento, Inc., a leader in fraud detection and risk mitigation for banks and credit unions, today announced that two of the fraud prevention industry’s most knowledgeable and respected executives – Shirley Inscoe and Mike Mulholand – have joined the company in new senior positions. The announcement was made at the BAI TransPay Conference & Expo in Dallas, where the company is exhibiting its solutions for managing new, emerging, and unsolved fraud threats.

Inscoe, former Senior Vice President of Enterprise Payments Strategy at Wachovia, will be Memento’s Director of Financial Services Solutions, a newly created position at the growing software company. Meanwhile, Mulholand, former Vision Risk Product Marketing Manager at banking and payments technology provider Metavante, has been named Director of Fraud Solutions Strategy. Inscoe and Mulholand each bring more than thirty years’ banking industry experience to Memento.

“Shirley Inscoe and Mike Mulholand are widely recognized as two of the financial services industry’s most knowledgeable fraud reduction experts,” said Catherine A. Allen, Chairman and CEO of the Santa Fe Group and former CEO of BITS, a non-profit consortium of 100 of the financial institutions in the U.S. “Their dedication to consumer protection through fraud prevention should serve them well in their new roles at Memento.”

“We welcome Shirley and Mike to our company and industry solutions team,” said BC Krishna, founder and CEO, Memento. “We also look forward to their significant contributions to our overall strategy for addressing the many new, emerging and unsolved fraud and compliance challenges facing banks and credit unions.”

Inscoe comes to Memento after a distinguished 24-year career at Wachovia, the fourth largest bank in the U.S. Throughout her tenure at Wachovia, Inscoe has held a series of increasingly responsible positions in risk management, regulatory compliance, and loss reduction initiatives.

Inscoe recently served as Chair of the BITS Fraud Reduction Steering Committee. The BITS Fraud Reduction Steering Committee provides direction to six working groups focused on specific aspects of risk such as Internet, debit card, and electronification. Shirley also serves on the ABA Deposit Account Fraud Committee and NACHA’s Check Fraud Steering Committee

Inscoe is a member of the American Banking Association (ABA) Payment Systems Committee and co-chairs Primary Payment System’s Advisory Committee. She also helped form and launch the Identity Theft Assistance Center, which provides support for identity theft victims. Inscoe has co-authored a number of industry whitepapers on internal fraud and has been a keynote speaker on these topics at major industry events.

During a 14-year career at Metavante, Mulholand worked on a variety of fraud solutions including deposit, check, internal fraud, and anti-money laundering (AML). Prior to Metavante, Mulholand worked at National City Corporation. He is a member of the BITS ACH Risk Workgroup, the Sante Fe Group Vendor Council, the FSTC Better Collaboration Tools and Near Real-time Sharing of Information project, and Infragard. Mulholand has also co-authored a number of industry whitepapers on internal and ACH fraud and has been a keynote speaker on these topics at major industry events.

About Memento
Memento, Inc. (www.mementosecurity.com) is a recognized leader in delivering proactive risk, fraud, and compliance solutions. Memento Security 4.0—the company’s award-winning solution—is an innovative platform for monitoring, detecting, and investigating fraud and inappropriate activities by a wide range of fraudsters, from trusted insiders to criminal outsiders. Used by the world’s largest and most influential financial institutions, Memento’s patent-pending technology is business focused, easy to use, and quick to implement. By detecting inappropriate activities early and precisely, Memento gives enterprises the information they need to mitigate risk, protect revenue and prevent loss. Based in Concord, Mass., Memento has offices in Washington DC, New York, Los Angeles, Milan, and London. Memento is a member of the Santa Fe Group’s Vendor Council, a consortium of leading service providers to the financial services industry (www.santa-fe-group.com/capabilities_vendor-council.php).

For more information:

TimHurley/Kim Pegnato
BluePoint Venture Marketing for Memento
781-861-7800
tim@bluepointmktg.com
kim@bluepointmktg.com