FOR IMMEDIATE RELEASE

Like many of our customers and partners, we have been troubled to learn of the payroll fraud cases, security breaches and ACH disruptions that have recently come to light across the payroll industry. The latest incident involving Cachet Financial Services, an ACH processor, affectedsomeservice bureaus, preventing them from providing direct deposit services for their customers. iSolved does not use Cachet, for any of its services, so no direct customer of iSolved was affected during this incident. iSolved only uses tier 1 banks that are regulated; we do not work with third party transmitters, such as Cachet.

Our strategy is to always use best-in-class national providers for any service involving an iSolved customer. We use several large, national tier-one banks for our ACH services, including Wells Fargo and JP Morgan Chase, and our network of banking relationships creates a high-performing, redundant funds movement capability with unsurpassed availability and uptime for our customers.

For several years, our treasury and ACH protocols have been recognized by our banking partners as best in class in the industry, spanning payroll service providers both big and small.

We believe this is an important to reassure our partners and customers of the protocols we have in place to ensure our customers are protected from such issues.

iSolved Platform is Built for Security
The iSolved application audits all transactions and sends notifications of repeated uses of the same bank account if the same employee is set up on multiple accounts, or if a client exceeds the ACH limit or the tax liability limit.

iSolved generates NACHA files as a single task, so there is no possibility of a user altering a NACHA file before it is transmitted to the bank. This distinguishes us from our competitors, most of whom generate the file, log on to the bank and browse out to upload the ACH file for processing making it possible for anyone to alter the file before it is uploaded. With iSolved, files are transmitted directly to the bank, eliminating the possibility of such alterations.

iSolved uses the statement on Standards for Attestation Engagements (SSAE) 18 as the basis for external audit and review. It also recently went under an independent third-party assessment around the development process and infrastructure.

Our platform is hosted on the most trusted name in cloud computing, Microsoft Azure.

iSolved Financial Process and Procedures
iSolved segregates funds into different bank accounts for each service we provide. For each ACH service a client chooses whether direct deposit, tax payments, workers compensation fees or a variety of others there is a separate account established.

We use robust fraud filters on our transactions and all user access for all our banks require dual system administrators. Our extensive internal controls ensure that the same employee cannot both initiate and approve a transaction. We employ a full reconciliation team verifying prior days activity, and this verification team cannot move any funds.

We also confirm that all ACH files processed by the bank balance to the ACH files weve generated leaving no room for fraudulent activity.

iSolved Treasury Team
Our Treasury employees are extensively trained and certified for Anti-Money Laundering, and they receive training directly from our banks. This is in addition to passing background and drug tests, along with other important restrictions.

iSolved Organizational Structure
iSolved has a formal organizational structure, with premier private equity investor Accel-KKR serving as our Board. We have a strong financial profile, delivering profitable growth year after year. Our private equity ownership provides expertise, ensuring iSolved has proper oversight and financial controls.

Establishing and maintaining these protocols is a serious commitment, and it is absolutely essential as evidenced by the recent incidents that have regrettably affected others in the industry. We want you to know that we have gone the extra mile and far beyond to ensure the security of your information and your resources.


Media contact: Lina Tonk, vice president of marketing • 980-272-2453 • ltonk@isolvedhcm.com
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