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Memento Reports Record Customer Acquisition in Q1, 2010

"The path ahead is full of promise," says BC Krishna, Founder and CEO. "We're demonstrating the value of our solution with our current customer base, which continues to grow rapidly. And we're investing in enhancing our platform and attracting the seasoned personnel we need to take full advantage of all upcoming opportunities."

Strengthening the Leading Fraud Management Platform

The rapid pace of innovation at Memento continues with a range of recent enhancements to the Memento Security platform; including high volume, low latency real-time fraud detection, new advanced analytical models, collusive network analysis, and an intuitive user interface that enables rapid alert disposition. Memento Security is an enterprise fraud management platform that integrates data management, advanced analytics, case management, and forensic research-the critical capabilities financial institutions and healthcare payers of all sizes, need to effectively combat wide-ranging, costly fraud, both entrenched and emerging.

These platform improvements enable Memento to offer packaged applications for Internal Fraud, Check Fraud, First Party Bust-Out, ACH Fraud, and Pharmacy Fraud. Memento is the only fraud management solution provider to offer a turnkey check fraud application that employs new, advanced analytics to significantly reduce false positives, and improves analyst effectiveness by enabling rapid alert disposition through an innovative user interface.

Expanding the Board and Management Team

With a view toward continued growth, Memento also announces the appointment of Steven R. Wasserman as Vice President and Chief Financial Officer. Steve has a track record of success that stretches over more than twenty years in high tech finance. Most recently, he served as Vice President and Chief Financial Officer of Constant Contact, the leading provider of email marketing for small organizations, where he co-led the company's $123 million IPO, and was part of the team that achieved compound annual revenue growth of 72% since 2005. At Memento, he will oversee corporate finance, accounting, and human resources.

In addition, Memento has added a new board member with the appointment of John M. Connolly, of Bain Capital Ventures. John has an extensive track record of leading companies to successful outcomes with more than thirty years of financial and executive management experience. He previously served as President and CEO of ISS which was sold to Risk Metrics. As the Founder, President and CEO of Mainspring he helped grow the company from a start-up to a publicly traded company that was ultimately acquired by IBM. While at IBM, John served as the General Manager of Financial Services and the IBM Strategy Group.

About Memento

Memento, Inc. (www.mementosecurity.com) is a recognized leader in enterprise fraud management. Memento Security - 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 and healthcare organizations, Memento solutions are business-focused, easy to use, and quick to implement. By detecting inappropriate activities early and precisely, Memento gives enterprises the information they need to prevent loss, protect revenue, and mitigate risk.

Memento Inc.
Heidi Ramich, 781-221-3030 x175
Director of Corporate Marketing