New Albany, Oh., September 30, 2008 — The Association for Financial Technology (AFT) www.aftweb.com, a volunteer association of leaders in the financial services market, released its first annual Tech Pulse Survey Report, shedding light on the prevailing attitudes and trajectory of the financial technology industry. The survey, fielded in August to more than 300 AFT members, unveiled growing concerns that reduced spending on technology by financial institutions may lead to downward pricing pressure and industry commoditization. The survey was analyzed in a report from the AFT that urges financial technology providers to rise above these challenges with renewed innovation.

According to the survey:

More than 75 percent of survey participation predict that financial institutions will cut spending on technology this year.

Nearly 70 percent cite pricing pressure as a serious concern for the industry.

Eighty percent of survey participants say that industry competition is on the rise.

“In the wake of recent consolidation among financial institutions and a sluggish economy, this is a crucial time for financial technology providers to focus their operations on providing specialized solutions and services that set them apart,” said David O’Malley, AFT Board President. “Our report concludes that the financial technology industry is due for a new wave of innovation as our customers face new challenges and as members advance their capabilities to solve them. The proper response in the current market environment is to boost our strategic value, not simply lower our prices.”

The survey also found its members’ top priorities are customer service, security and retaining talent.

“Top talent will be attracted to companies that are developing very strategic products and services,” says Randy Fluitt, executive vice president of Fidelity Information Services. Fluitt maintains that changes in the industry are making it an exciting place to work. AFT members like Compushare President and CEO Romir Bosu see a need for innovation to create services that are better aligned with customer goals.

The AFT 2008 Tech Pulse Survey Report features insights and analysis from several leading executives on the key challenges facing financial technology providers. According to O’Malley, “Our first Tech Pulse Survey Report was issued to help shape the industry discussion and inform technology providers as they determine the strategic direction of their organizations.”

To view the report, please visit www.aftweb.com/about.