CKFR Checkfree Corp (MM)

First Tennessee Selects CheckFree Software to Mitigate Financial Risk for Corporate Customers ATLANTA and SAN ANTONIO, April 12 /PRNewswire-FirstCall/ -- Payments 2005 Booth # 313 -- CheckFree Software, a division of CheckFree Corporation (NASDAQ:CKFR), today announced that First Tennessee Bank, a subsidiary of First Horizon National Corp. (FHN), has selected CheckFree e-Check Bridge(TM) and CheckFree Payee Verification to enable the bank to mitigate risk and reduce financial losses associated with fraud for its corporate customers. CheckFree e-Check Bridge is a software module that links two industry- leading bank operation solutions, CheckFree PEP+(R) and CheckFree ARP/SMS(TM). The new software module ensures that converted corporate checks do not bypass the existing positive pay process in the paper check processing environment. By comparing original check information to the electronic transaction, e-Check Bridge mitigates risk around corporate check conversion by bridging the gap between the Automated Clearinghouse (ACH) processing platform and the check reconcilement and positive pay fraud detection systems in a corporate banking environment. First Tennessee has also selected the new CheckFree Payee Verification module to extend the capabilities of its existing CheckFree ARP/SMS implementation to add enhanced positive pay protection for the bank's commercial customers. CheckFree pioneered positive pay solutions that match a corporate customer's check issue file with a physical check by using payment amount or check number. The CheckFree Payee Verification module allows banks to identify altered payee names on checks by reconciling and matching the payee name to a corporate issue file. If the results conclude the check has been changed or added to, it is rejected as an exception and may be presented to the company for a "pay" or "return" decision with no loss to the customer or the bank. As a result, First Tennessee can significantly mitigate risk for the bank and its commercial customers. "For First Tennessee, CheckFree's solutions give us treasury management services that are critical for our customers, and we will be among the first financial institutions to deliver these enhanced risk mitigation services to our clients," said Karen Doyle, Vice President, Treasury Management Services, First Tennessee. "We're always looking for innovative ways to offer value to our customers and potential customers, and this partnership is one more way we can do that." "CheckFree Software extends its core software platforms to address issues that face financial institutions and their corporate clients," said Randy McCoy, Executive Vice President and General Manager of CheckFree Software. "There is a need to address real-world operational and process implications of the rapid growth in ARC, and our solutions assist banks, such as First Tennessee, in fortifying positive pay processes." About First Horizon The 13,000 employees of First Horizon National Corp. (FHN) provide financial services to individuals and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands - - FTN Financial, First Horizon and First Tennessee -- provide customers with a broad range of products and services including: - Capital markets, with one of the nation's top underwriters of U.S. government agency securities - Mortgage banking, with one of the nation's top 20 mortgage originators and top 15 servicers, which earned a top-10 ranking in customer satisfaction from J.D. Power and Associates - Retail/commercial banking, with the largest market share in Tennessee and one of the highest customer retention rates of any bank in the country FHN companies have been recognized as some of the nation's best employers by AARP, Working Mother and Fortune magazines. FHN also was named one of the nation's 100 best corporate citizens by Business Ethics magazine. More information can be found at http://www.firsthorizon.com/ . About CheckFree ( http://www.checkfreecorp.com/ ) Founded in 1981, CheckFree Corporation provides financial electronic commerce services and products to organizations around the world. CheckFree Electronic Commerce solutions enable thousands of financial services providers and billers to offer their customers the convenience of receiving and paying their household bills online or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to thousands of financial services organizations, which manage more than $900 billion in assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two-thirds of the 10 billion Automated Clearing House transactions in the United States. The division also provides reconciliation, financial messaging, compliance and electronic billing and statement software to thousands of organizations across the globe. Certain of CheckFree's statements in this press release are not purely historical, and as such are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management's intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in CheckFree's business, and other risks and uncertainties detailed from time to time in CheckFree's periodic reports filed with the Securities and Exchange Commission, including CheckFree's Annual Report on Form 10-K for the year ended June 30, 2004 (filed September 3, 2004), Form 10-Q for the quarter ended September 30, 2004 (filed November 9, 2004) and Form 10-Q for the quarter ended December 31, 2004 (filed February 8, 2005). One or more of these factors have affected, and could in the future affect CheckFree's business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this press release will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by CheckFree, or any other person, that the objectives and plans of CheckFree will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and CheckFree assumes no obligation to update any forward-looking statements. DATASOURCE: CheckFree Corporation CONTACT: Media relations, Judy DeRango Wicks, +1-678-375-1595, or , or Investor relations, Tina Moore, +1-678-375-1278, or , both of CheckFree Corporation Web site: http://www.checkfreecorp.com/ http://www.firsthorizon.com/

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