The Suncorp Group Deploys CheckFree's Accurate NXG Solution for Enterprise- Wide Reconciliation, Exception Management and Workfl
28 Novembro 2006 - 12:00PM
PR Newswire (US)
Single automated solution from CheckFree to consolidate and
centralise reconciliations across The Suncorp Group's banking,
insurance and wealth management divisions ATLANTA, Nov. 28
/PRNewswire-FirstCall/ -- CheckFree Corporation (NASDAQ:CKFR) today
announced that The Suncorp Group, Australia's sixth- largest
banking group, has expanded its enterprise-wide deployment of
CheckFree's Accurate NXG(TM) solution to mitigate potential
operational risk across its three major business lines. The Suncorp
Group leveraged CheckFree's Applied Operational Intelligence(SM)
approach, first announced Oct. 6, for this straight-through
processing (STP) project. "CheckFree's Applied Operational
Intelligence approach is helping The Suncorp Group to drive
profitability and performance throughout our insurance, banking and
wealth management divisions. Working closely with CheckFree as a
strategic partner on the implementation of Accurate NXG has helped
us improve our management of potential operational risk and rapidly
achieved significant return on investment," said Anne Jackson,
Acting Manager Accounting Operations, at The Suncorp Group.
"Furthermore, the professionalism, enthusiasm and total commitment
to service of the local CheckFree team have been major factors
behind the success of this critically important project." Accurate
NXG has replaced a largely manual internal reconciliation process
that spanned a number of different systems and business locations.
With the fifth phase of the implementation, the solution is now
used to manage over 200 separate reconciliations, with more than
300,000 diverse transactions. Additionally, The Suncorp Group is
planning to quadruple the number of accounts that are reconciled
using Accurate NXG. The Suncorp Group is in the process of
developing the Accurate NXG automated workflow processes to assist
with the monitoring of outstanding items. Additional development is
currently underway to provide a fully audited electronic sign off
process per reconciliation, listing all outstanding items in
dashboard, enabling supervisors to constantly monitor daily
reconciliation positions and gain visibility on areas of potential
operational risk. "CheckFree has helped The Suncorp Group to
rapidly deploy Accurate NXG to other parts of their business,
resulting in a low total cost of ownership for a large
enterprise-wide deployment," said Esther Pigg, vice president of
global product management at CheckFree Software, "Our local
presence in the Asia-Pacific market ensures that CheckFree can
provide a superior level of service to customers in this important
financial region." 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
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 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 The Suncorp Group
(http://www.suncorp.com/) The Suncorp Group is one of Australia's
leaders in banking, insurance, and wealth management. The Group
focuses on retail consumers and small to medium business.
Suncorp-Metway Ltd is one of Australia's top 20 companies and is
Queensland's biggest corporation with a market value of around
$11.4 billion. The Suncorp Group is Australia's 6th largest bank
and 4th biggest general insurance group, covering motor, home and
content, workers compensation and commercial. The Group's
acquisition of GIO and AMP's general insurance business increased
the customer base and diversified the business mix with growth in
commercial insurance and workers compensation. Customers have
access to 172 Suncorp retail outlets, including branches and
agencies and 56 business banking outlets, predominantly in
Queensland. There are also 34 GIO agencies in NSW and Victoria.
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: Judy DeRango
Wicks, Media relations, +1-678-375-1595, or , or Tina Moore,
Investor relations, +1-678-375-1278, or , both of CheckFree
Corporation
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