Banco Sabadell Selects CheckFree's Complete Reconciliation, Exception Management and Workflow Solution
21 Novembro 2006 - 6:00AM
PR Newswire (US)
Accurate NXG to Increase Operational Efficiency at Spain's
Fourth-Largest Bank ATLANTA and LONDON, Nov. 21
/PRNewswire-FirstCall/ -- CheckFree (NASDAQ:CKFR) today announced
that Banco Sabadell, Spain's fourth largest banking group, has
selected CheckFree's Accurate NXG(TM) reconciliation and exception
management solution. Banco Sabadell will use each component of the
Accurate NXG solution across its nostro, foreign exchange and
billing processes to mitigate transactional risk and tighten its
operational controls. This reconciliation and exception management
implementation is an example of how Banco Sabadell will leverage
CheckFree's Applied Operational Intelligence(SM). "CheckFree's
Applied Operational Intelligence approach, combined with the
flexibility of the Accurate NXG solution, will help us consolidate
and streamline our reconciliation processes while allowing for
business growth," said Mr. Adria Galian, operations director of
financial markets at Banco Sabadell. "After evaluating Accurate
NXG's entire reconciliation, exception management and workflow
solution, we realised its scalability and flexibility could add
significant value to our internal operations." Accurate NXG will be
deployed to provide the company with a single, enterprisewide view
of reconciliations, increasing efficiency and enabling better
management of operational risk across the organisation. The
solution will enable Banco Sabadell to manage a wide range of
reconciliations, including billing, money transfers, and
reconciliation of nostro, foreign exchange and money market
transfers. An operational intelligence dashboard will provide
senior management with visibility to critical areas of potential
loss both at a detailed and aggregate level - through reporting,
analysis and solid metrics. Accurate NXG's integrated exception
management and workflow capabilities will enable Banco Sabadell to
automatically investigate outstanding items on Banco Sabadell's
nostro and foreign exchange accounts. The bank plans to utilise
Accurate NXG for securities reconciliations to further improve
efficiencies and provide cross-enterprise consistency with minimal
IT overhead support costs. "Accurate NXG is a powerful solution
that can support large enterprise organisations that need to
reconcile multiple asset types," said Dirk Van de Velde, vice
president for continental Europe at CheckFree Software. "Accurate
NXG is designed to enable customers, such as Banco Sabadell, to
benefit from lower operating costs, more time to prevent potential
losses, and greater transparency of financial transactions and
their processing overhead." CheckFree's Applied Operational
Intelligence 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. 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 the Accurate NXG solution, visit
http://www.checkfreesoftware.com/. About Banco Sabadell
(http://www.bancosabadell.com/) Banco Sabadell is listed on the
IBEX 35 and leads the fourth Spanish banking group, comprising
different companies, subsidiaries and joint- ventures, such as
Sabadell Banca Privada, Ibersecurities or Landscape as well as
commercial brands such as SabadellAtlantico, Banco Herrero, Solbank
and ActivoBank. As part of its strategy of organic growth combined
with selected acquisitions, Banco Sabadell has recently acquired
Banco Urquijo. With total assets of over 60.000 million euros and a
market capitalization of over 8.200 million euros, Banco Sabadell
currently employs about 9,500 staff, focused mainly on attending
the financial needs of small and medium- sized businesses as well
as high-income individuals through a broad commercial multibrand
and multichannel range of products and services that, historically,
has always stood out for its capacity to innovate and its intensive
use of information technologies. Today, the commercial network of
Banco Sabadell and its Group easily exceeds 1,100 branches allowing
the bank to be present all over Spain and in another twenty
countries. 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 the
convenience of receiving and paying their household bills online,
via phone 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 $1.5 trillion in assets.
CheckFree Software develops, markets and supports payment
processing solutions that are used by financial institutions to
process more than two-thirds of the 14 billion Automated Clearing
House transactions in the United States, and supports
reconciliation, exception management, risk management, transaction
process management, corporate actions processing and compliance
within thousands of organizations worldwide. 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) and Form
10-Q for the quarter ended September 30, 2006 (filed November 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.bancosabadell.com/
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