Symcor Chooses CheckFree i-Series(TM) to Deliver Electronic Document Presentment and Payment Services
06 Setembro 2006 - 11:00AM
PR Newswire (US)
ATLANTA and MISSISSAUGA, Ontario, Sept. 6 /PRNewswire-FirstCall/ --
CheckFree Corporation (NASDAQ:CKFR) and Symcor, the leading
provider of statement and payments processing services in Canada,
today announced that Symcor has selected the market-leading
CheckFree i-Series(TM) electronic billing and payment (EBP)
solution as the core platform for its new Electronic Document
Presentment and Payment (EDPP) services. This white-label service
gives consumer-focused companies a quick, low-capital investment
approach to offering their customers the means to view statements,
bills and other documents online as well as pay bills online. By
offering their customers an alternative to receiving paper copies,
organizations can reduce costs, improve customer care and drive
increased traffic to their Websites. The agreement with CheckFree
marks the next phase in Symcor's vision to be the leading
closed-loop statement-to-payment solution provider in Canada.
"Organizations struggle with how to effectively manage the
transition as customers move from a paper-based to electronic
approach for the receipt and payment of statements, bills and other
documents," explained Tim Relke, Senior Vice President of Business
Development and Emerging Products, Symcor. "Our service provides an
effective approach to managing this adoption lifecycle,
facilitating paper suppression and containing costs." The
introduction of this service positions Symcor as the only provider
of integrated print and electronic statement and payments services
in Canada with the capability to manage this transition. Despite
Canada's high Internet penetration and Canadians' higher propensity
to pay bills online, Canada trails the United States and other
countries in its adoption of electronic presentment. A study by
Monitor Group shows that while Canadians are ready to view
statements, bills and other documents online, they are either
unaware or unsatisfied with available offerings in the market to
actually pay their bills. "Canadian consumers are looking for a
trusted provider to present their confidential information online
and to accept payments on their behalf," explained John
Mavriyannakis, Vice President, Emerging Products, Symcor. "Our
simple-to-implement, customizable solution enables companies to
deliver these new online services to their customers without the
capital investment, time and risk associated with implementing it
in-house. They can meet their customers' needs to view statements,
bills and other documents online and pay bills online in record
time." The new service will be available later this year. As
Mavriyannakis pointed out, "This solution represents a significant
hard and soft dollar benefit for our customers. By presenting
documents online, companies can drive traffic to their Websites,
which represents an opportunity to increase cross- selling and
up-selling while at the same time driving down the cost of
servicing. And with Symcor's ability to manage the conversion of
consumers from print to online, companies can finally take
advantage of the cost and customer satisfaction benefits of moving
their customers online." Symcor selected CheckFree because as the
industry leader in electronic billing and payment, CheckFree was
able to provide an unparalleled depth of experience and breadth of
functional capability. "CheckFree has deep payment knowledge and
best-practice expertise with our implementation model. The
CheckFree i-Series software, with its standards-based Web design,
payment database, document management and configurability tools,
gives us all the functionality, flexible architecture and proven
usability required to take Canadian e-billing services to the next
level," Mavriyannakis said. "Symcor already has a leading position
as a statement and payments processor in Canada," said Matt
McKernan, Senior Vice President, Biller Business Unit, CheckFree.
"This, combined with CheckFree's expertise in developing complex
e-billing services, places Symcor in an extremely strong position
within Canada's rapidly growing EDPP and document management
markets." About Symcor As one of North America's largest business
process outsourcing companies, Symcor Inc. provides services
designed to transform and enhance its customers' businesses. It is
an industry leader in physical and electronic check processing,
payment processing, statement production and document management.
For more information, please visit http://www.symcor.com/. About
CheckFree 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
$1.4 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 nearly 14
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),
Form 10-Q for the quarter ended December 31, 2005 (filed February
8, 2006), and Form 10-Q for the quarter ended March 31, 2006 (filed
May 9, 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
relations, Judy DeRango Wicks, +1-678-375-1595, or , or Investor
relations, Tina Moore, +1-678-375-1278, or , both of CheckFree
Corporation; or John Mavriyannakis, +1-416-673-8608, or , or Sandra
de Souza, +1-905-273-1096, or , both of Symcor Web site:
http://www.checkfreecorp.com/ http://www.symcor.com/
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