Arvest Bank Fights Fraud with CheckFree FraudNet(TM)
18 Dezembro 2006 - 12:15PM
PR Newswire (US)
-- Community Bank Joins Major National Institutions to Improve
Fraud Detection and Prevention Efforts to Safeguard Consumers --
ATLANTA, Dec. 18 /PRNewswire-FirstCall/ -- CheckFree Corporation
(NASDAQ:CKFR) today announced that Arvest Bank has deployed
CheckFree FraudNet(TM), a proactive fraud detection and case
management system, as part of a comprehensive security and
anti-fraud initiative. Arvest joins more than 40 financial
institutions in selecting and implementing CheckFree FraudNet, a
proactive fraud engine that scales and actually becomes smarter at
detecting anomalies with increased transaction volumes. Arvest,
which serves 86 communities in Arkansas, Missouri and Oklahoma, is
the first community bank to adopt CheckFree FraudNet. "When I first
learned about CheckFree FraudNet, I immediately recognized its
value for both our customers and the bank," said Teresa Cheek,
senior vice president of operations at Arvest Bank, chartered in
Fayetteville, Ark. "We have experienced growing enrollment in our
free CheckFree-powered electronic billing and payment service, and
we wanted to take steps to ensure the safety and trust of all our
customers. CheckFree FraudNet is an integral part of our commitment
to security at Arvest Bank." CheckFree FraudNet was introduced in
November 2005 to help ensure that receiving and paying bills online
remains safer than offline, paper-based billing and payment
methods. CheckFree FraudNet can help significantly reduce losses
for participating banks, as well as provide data on attempted
fraudulent transactions to help law enforcement officials apprehend
and prosecute fraudsters. The system combines CheckFree's
cumulative knowledge of payment patterns and a sophisticated
analytics engine to help financial services organizations detect
and stop unauthorized payments before they are completed. "As an
early adopter of CheckFree FraudNet, Arvest Bank is a trendsetter
among community banks nationwide," said Jeff Weikert, senior vice
president of the Consumer Service Provider business unit in
CheckFree's Electronic Commerce Division. "Arvest should be
commended for taking steps sooner, rather than later, to advance
the fight to combat fraud and stop it before it results in losses
for the bank and its customers. CheckFree FraudNet is one more
reason why receiving and paying bills online is safer and more
secure than traditional, paper-based methods." About Arvest Bank
(http://www.arvest.com/ ) Based in Bentonville, Ark., Arvest Bank
operates more than 200 bank branches in Arkansas, Oklahoma and
Missouri through a network of 15 locally managed community banks,
each with its own board of directors and management team. These
banks serve customers in 86 communities with 12-hour weekday
banking at most locations. Arvest also operates a mortgage company,
asset management company, insurance division and mortgage servicing
company. 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 household bills online, via
phone or in person through retail outlets. CheckFree Investment
Services provides a broad range of investment management solutions
and outsourced services to hundreds 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, Judy
DeRango Wicks, +1-678-375-1595, or , or Investors, Tina Moore,
+1-678-375-1278, or , both of CheckFree Corporation Web site:
http://www.checkfreecorp.com/ http://www.arvest.com/
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