The Penn Mutual Life Insurance Company Selects CheckFree for Enterprisewide Cash and Securities Reconciliation
13 Outubro 2006 - 11:00AM
PR Newswire (US)
Mutual life insurer to manage risk and optimize transaction growth
with CheckFree's Accurate NXG ATLANTA, Oct. 13
/PRNewswire-FirstCall/ -- CheckFree Corporation (NASDAQ:CKFR) today
announced that The Penn Mutual Life Insurance Company, the
second-oldest mutual life insurance company in the United States,
has selected CheckFree's Accurate NXG(TM) reconciliation and
exception-management solution to automate the company's cash and
securities reconciliation processes. The Accurate NXG solution,
which will be deployed in Penn Mutual's investment management and
treasury operations divisions, will enable the firm to improve
operational intelligence, gain a single enterprisewide view of its
reconciliations, increase efficiency and better manage operational
risk across the organization. Jason Pandolfo, assistant vice
president of Penn Mutual's Investment Operations, said, "As a
mutual company, we are focused on process excellence and
appropriate controls, which will increase our agility in meeting
our business demands. Therefore, our goal was to implement a
scalable and flexible reconciliation solution that could be used
throughout the enterprise." Accurate NXG will be used to reconcile
positions and trading activity with internal accounting, trading
and risk systems and confirm positions with custodians. The
solution will also enable Penn Mutual to eliminate internal
proprietary reconciliation processes, which were not sufficient for
auditing purposes, and improve the investigation and resolution of
transaction errors. Esther Pigg, vice president of global product
management at CheckFree Software, said, "CheckFree's Applied
Operational Intelligence(SM) approach allows customers to easily
implement an enterprisewide, operational control framework that
helps them to meet the challenge of growing transaction volumes,
achieve new levels of regulatory control and drive performance and
profitability. CheckFree's expertise, gained from working closely
with global organizations, such as Cincinnati Financial, Canada
Life and Skandia, has positioned CheckFree as a strategic partner
for the mutual life insurance industry." CheckFree's Applied
Operational Intelligence approach helps clients drive profitability
and performance by combining innovative software, proven expertise
and operational intelligence. This approach is built on CheckFree's
core competencies of reconciliation, exception management,
transaction processing, corporate actions processing, bank payment,
risk management and compliance. Applied Operational Intelligence is
expressly designed to manage risk and efficiency, while leveraging
operational intelligence to achieve measurable return on
investment. Accurate NXG is deployed across a worldwide customer
base, including some of the largest domestic and international
banks, custodians, brokers and investment firms. For more
information about Accurate NXG, visit
http://www.checkfreesoftware.com/. About Penn Mutual
(http://www.pennmutual.com/) The Penn Mutual Life Insurance Company
is the nation's second oldest mutual life insurer. Founded in 1847,
the company provides life insurance and annuity products through a
national network of professional agents and financial advisors who
help clients meet their financial needs with confidence. Penn
Mutual supports its field representatives with brokerage services
through Hornor, Townsend & Kent, Inc., its wholly owned
subsidiary. Visit Penn Mutual on the Internet at
http://www.pennmutual.com/. About CheckFree
(http://www.checkfree.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
$1.4 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 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 the
Company'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 the Company's business,
and other risks and uncertainties detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for
the year ended June 30, 2006 (filed September 8, 2006). One or more
of these factors have affected, and could in the future affect the
Company'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 the Company, or any other person,
that the objectives and plans of the Company will be achieved. All
forward-looking statements made in this press release are based on
information presently available to management, and the Company
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 Web site: http://www.checkfreecorp.com/
http://www.pennmutual.com/ http://www.checkfreesoftware.com/
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