CKFR Checkfree Corp (MM)

-- CheckFree's Accurate NXG reduces reconciliation processing time from 8 hours to 45 minutes -- ATLANTA and LONDON, Feb. 7 /PRNewswire-FirstCall/ -- CheckFree Corporation (NASDAQ:CKFR) today announced that PinnacleSports.com, the leading international online betting and gaming company, is live with its Operational Risk Management solution, Accurate NXG, to monitor transactional risk, automate its bank account reconciliations and optimise the resolution and reporting of exceptions across its customer accounts. Accurate NXG, originally developed by Accurate Software which was acquired by CheckFree in May 2005, has been chosen to provide an enterprise-wide operational risk management framework to enable PinnacleSports.com to manage the volume growth in the firm's online betting and gaming transactions. CheckFree's Accurate NXG has gone live in the PinnacleSports.com operations centre in Curacao, one of the islands of the Netherlands Antilles, automating a previously semi-manual reconciliation and exception management environment. The process was time-consuming and costly, and potentially exposed the company to high levels of operational risk. By seamlessly automating the end-to-end transaction processing of payments from inception through to final resolution using a single reconciliation platform, Accurate NXG has been able to move the processing of reconciliations from an end of day to an intraday activity -- from 8 hours to an average of just 45 minutes -- freeing up finance executives for more value added activities. PinnacleSports.com is using Accurate NXG across all products, including sports betting, racing and casino gaming, to reconcile transactions, resolve exceptions and provide management information reporting. The company's finance executives are also equipped with Accurate NXG's business intelligence Dashboard technology, which can be accessed remotely. The Dashboard is used across all of the PinnacleSports.com payment channels, enabling the monitoring of trends and cashflows relating to multi-currency deposits and withdrawals. The resulting extra level of transparency minimises the company's potential exposure to operational risk and reduces costs through improved operational control. "The growth of PinnacleSports.com and of the online betting industry as a whole has been phenomenal and with this growth comes the need to build an effective operational risk management infrastructure," said Ate de Jong, chief financial officer at PinnacleSports.com. "CheckFree's experience in developing APIs has enabled easy integration with multiple payment service providers in multiple currencies to give our international customers the freedom to transact in the most convenient way they choose. By automating labour-intensive manual reconciliation and exception management processes with an advanced technology solution, CheckFree's Accurate NXG has enabled PinnacleSports.com to reduce risk across our entire organisation." Since its inception in 1998, PinnacleSports.com has seen rapid growth, particularly during the last three years. The site is currently available in 14 languages and is accessed across 80 countries making it a truly global offering. As the online betting industry has grown rapidly in recent years, PinnacleSports.com online sales channels required a greater emphasis on tightening operational control and reducing transactional risk. The site currently handles transactions through leading payments service providers, including VISA and MasterCard, as well as with payment service specialists such as NETeller, BankWire, WebMoney and Moneybookers. PinnacleSports.com plans to support additional payment methods in the near future, including FirePay, Citadel, as well as via paper cheques, and, with these services, brings an increased number of complex, multi-currency transactions. Peter Jameson, Business Development Manager, Gaming and Leisure at CheckFree, said, "CheckFree's Accurate NXG solution offers significant benefits including improved processing, better client service and minimised risk. Through taking the time to listen and understand the challenges faced by companies in the online sector, CheckFree has built an enviable client list in the betting and gaming industry." About Pinnacle Sports Worldwide (http://www.pinnaclesports.com/) PinnacleSports.com (http://www.pinnaclesports.com/) is the Internet's largest sports betting site, serving customers in more than 80 countries worldwide. Founded in 1998, PinnacleSports.com was the first sports book to introduce reduced margin wagering, using a -105 pricing model that gives bettors up to 50% better value on wagers than traditional bookmakers. With low minimum bet requirements and the highest maximum limits on the Web, PinnacleSports.com has earned an industry-leading reputation for providing consistent value to the player, professional customer service and the quickest payouts online. Fully licensed and regulated in Curacao and the United Kingdom, the company offers a secure environment for sports betting, racing and casino gaming. About CheckFree (http://www.checkfreecorp.com/) Founded in 1981, CheckFree Corporation (NASDAQ:CKFR) 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 about $1.3 trillion in assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two thirds of the 12 billion Automated Clearing House transactions in the United States. The division also provides operational risk management, financial messaging, corporate actions, and regulatory compliance software to more than 1,500 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, 2005 (filed September 2, 2005), and Form 10-Q for the quarter ended September 30, 2005 (filed November 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. First Call Analyst: FCMN Contact: DATASOURCE: CheckFree Corporation CONTACT: Media, Judy DeRango Wicks, +1-678-375-1595, or , or Investors, Tina Moore, +1-678-375-1278, or , both of CheckFree Corporation Web site: http://www.checkfreecorp.com/ http://www.pinnaclesports.com/

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