CKFR Checkfree Corp (MM)

Fifth Third Bank Selects Real-Time Positive Pay System to Accelerate Same-Day Fraud Detection and Provide Corporate Clients With Faster Access to Account Information ATLANTA and SAN DIEGO, May 8 /PRNewswire-FirstCall/ -- Payments 2006, Booth # 610 -- CheckFree Corporation (NASDAQ:CKFR), today announced the launch of the CheckFree Positive Pay Accelerator(TM), a fully integrated, real-time software module to the CheckFree ARP/SMS(TM) product, the industry's premier positive pay and reconcilement system. CheckFree Positive Pay Accelerator enables financial institutions to improve operational efficiency, speed detection of fraud and provide corporate clients with the ability to prevent fraudulent payments. Today, corporate clients on the CheckFree ARP/SMS system use Controlled Disbursement Accounts to preview items prior to posting to their account. Using Controlled Disbursement Accounts coupled with the CheckFree Positive Pay Accelerator software module, banks can enhance positive pay reporting, and make account adjustments and return decisions prior to posting items to a client's account. These tighter controls are designed to enable more timely reporting and potentially error-free account statements and reconcilement. "CheckFree is introducing the CheckFree Positive Pay Accelerator solution to enable financial institutions to provide more accurate, same-day information to meet the growing demands of their corporate clients," said Esther Pigg, vice president of global product management at CheckFree. CheckFree Positive Pay Accelerator module is designed to assist financial institutions in reviewing, correcting and reporting positive pay exception items on the same day. Corporate clients can preview critical positive pay exceptions prior to posting and either make payment decisions on Day 1, prior to posting to their account, or take advantage of an extended reporting window until Day 2. "Fifth Third Bank was seeking a solution to add value to our treasury management product portfolio for our corporate clients," said Jodi McIntosh, disbursements product manager for Fifth Third Bancorp. "CheckFree Positive Pay Accelerator module was the logical choice to leverage our existing CheckFree ARP/SMS system and enhance our ability to review, correct and report exceptions on the same day," said Georgette Cipolla, Fifth Third's director of product management and development. "Many of our corporate clients were seeking more sophisticated positive pay services and more accurate and detailed reporting, which led us to CheckFree's Positive Pay Accelerator product," Cipolla added. About Fifth Third Bancorp (http://www.53.com/) Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $105.0 billion in assets, operates 19 affiliates with 1,132 full-service Banking Centers, including 120 Bank Mart(R) locations open seven days a week inside select grocery stores and 2,027 Jeanie(R) ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania and Missouri. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2006, has $203 billion in assets under care, of which it manages $33 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at http://www.53.com/. Fifth Third's common stock is traded through the NASDAQ(R) National Market System under the symbol "FITB." 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), Form 10-Q for the quarter ended September 30, 2005 (filed November 8, 2005), and Form 10-Q for the quarter ended December 31, 2005 (filed February 8, 2006). 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, 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.53.com/

Copyright