Fifth Third Streamlines Back Office Processing, Plans for Future Growth With Implementation of CheckFree's Industry-Leading Paym
17 Outubro 2006 - 11:15AM
PR Newswire (US)
ATLANTA and LAS VEGAS, Oct. 17 /PRNewswire-FirstCall/ --
Association for Financial Professionals Conference, Booth #623 --
CheckFree Corporation (NASDAQ:CKFR), today announced that Fifth
Third Bank (NASDAQ:FITB) has implemented CheckFree's
industry-leading payment solution as part of its strategy to expand
its business services for corporate customers and maximize
performance throughout its back-office operations. The bank has
implemented the CheckFree Positive Pay Accelerator(TM) module,
building on its existing implementation of CheckFree ARP/SMS(TM)
software. CheckFree's Positive Pay Accelerator will enable the bank
to expand its innovative positive pay offerings to the corporate
marketplace and strengthen its treasury management business. "Fifth
Third leverages technology to help us extend new services to our
customer base, while we continue to manage risk and take steps to
minimize fraud," said C. David Cook, Senior Vice President and
Director of Treasury Management Services. "Through our partnership
with CheckFree, we have deployed the Positive Pay Accelerator
solution to provide the scalability and flexibility we need in our
treasury management operations to manage future growth." Designed
to accommodate growing transaction volumes, as well as emerging
types of transactions such as ACH and image exchange, the solution
enables Fifth Third to provide corporate clients with even earlier
validation and detection of exception items. This solution will
assist the Bank to achieve its goal of expanded fraud protection
across all corporate payment types. CheckFree Positive Pay
Accelerator is a powerful enhancement to CheckFree ARP/SMS(TM)
(Account Reconciliation Package/Service Management System), a
comprehensive solution that helps reduce exposure to check fraud,
streamline back-office operations and expand treasury management
product offerings. "The combination of CheckFree's Applied
Operational Intelligence(SM) approach and our industry-leading
payment processing solutions helps our clients reduce the cost of
servicing their customers and deliver innovative new services that
drive revenue growth," said Esther Pigg, vice president of global
product management for CheckFree Software. CheckFree's Applied
Operational Intelligence(SM) approach helps clients drive
profitability and performance through a combination of innovative
software, industry expertise and collaborative partnership. This
approach is built on CheckFree's core competencies of
reconciliation, exception management, transaction process
management, corporate actions processing, payments processing, risk
management and compliance. The Applied Operational Intelligence
approach is expressly designed to manage risk and efficiency, while
leveraging valuable 'operational intelligence' to achieve
measurable return on investment. About Fifth Third Bancorp
(http://www.53.com/) Fifth Third Bancorp is a diversified financial
services company headquartered in Cincinnati, Ohio. The Company has
$106.1 billion in assets, operates 19 affiliates with 1,145
full-service Banking Centers, including 116 Bank Mart(R) locations
open seven days a week inside select grocery stores and 2,108
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 June 30, 2006, has $203 billion
in assets under care, of which it manages $31 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 Global Select Market System under the symbol
"FITB." Member FDIC. 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 $1.4 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 , both of CheckFree Corporation Web
site: http://www.checkfreecorp.com/ http://www.53.com/
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