Burlington, MA — January 26, 2011— Memento, Inc., a recognized leader in enterprise fraud management, reported continued strong business growth in 2010. The company increased its new bookings by 60% year-over-year and significantly grew its customer base in the face of a challenging technology buying environment.

Memento’s flagship software offering, Memento Security™, is an enterprise fraud management platform that integrates robust data management, advanced analytics, alert management, case management and forensic research, the critical capabilities required to effectively combat fraud. Memento solutions are used daily to fight fraud at firms of all sizes ranging from regional banks and credit unions to some of the of the world’s largest financial institutions.

During the past year Memento also achieved several other key milestones, including:

• Customer growth: Memento’s roster of world-class financial institutions using its technology increased significantly in the past year, and now includes 8 of the top 20 banks in North America. Memento continued its expansion in the mid-market by adding many regional and community banks and credit unions to its customer base. In addition, several existing customers expanded their relationship with Memento by further embracing its enterprise fraud solution. 
• Expansion of the leadership team: In October, John E. O’Malley joined the company as its Chief Executive Officer, bringing over 20 years of strategic vision and successful execution in financial services and technology markets to Memento. His broad skills in driving operations, leadership and strategic planning have helped Mr. O’Malley lead innovation and operational excellence at several influential financial services technology companies, including Harland Financial Solutions, Fiserv and Hogan Systems. Earlier in the year, Memento also announced the appointment of Steven R. Wasserman as its Vice President and Chief Financial Officer. Mr. Wasserman has a track record of success that stretches over more than twenty years in high tech finance.
• Continued solution innovation: Memento continued to invest significantly in research and development, enabling the company to expand and enhance its portfolio of enterprise fraud management offerings. As an example, the company launched a next-generation solution aimed at combating ACH and Wire Fraud, a growing problem for financial institutions, which is made more complicated by the ever-changing nature of electronic payment networks. This continued investment in new functionality demonstrates Memento’s commitment to providing the most complete, accurate and flexible solutions for fighting fraud and addressing compliance challenges.
• Thought leadership with key industry groups: Memento continued to take an active role in setting the agenda and shaping issues important to the fraud prevention industry. In the past year Memento held leadership positions in the NACHA Internet Council and the Santa Fe Group Vendor Council and continued its participation in and support of both BAI and the American Bankers Association (ABA).
• Additional strategic investment: Memento recently secured $5 million in new financing, led by existing investors Bain Capital Ventures, .406 Ventures, and Rock Maple Ventures. The funds will be used to accelerate product innovation and expand sales and marketing.

“With our strong commitment to customer success and the recent expansion of our business, Memento is well-positioned to continue to grow and build on our leadership position in enterprise fraud management,” said John O’Malley, CEO of Memento. “We’re proud of what we accomplished in 2010, and are looking forward to capitalizing on that momentum in 2011.”

About Memento
Memento, Inc., a leader in enterprise fraud management delivers next-generation technology and proven solutions that allow financial institutions to rethink the way they combat and manage fraud. Memento Security, the company’s award-winning software platform, protects deposit accounts from wide-ranging, costly threats and enables key stakeholders to measure the true value of loss prevention investments. Trusted by many of the world’s largest and most influential financial institutions, regional banks, and credit unions, Memento offers exceptional accuracy, rapid ROI, and unmatched business value.