CheckFree Successfully Completes Testing Certification for Automated ISO 15022 SWIFTNet SMPG Corporate Actions Message Quality I
24 Janeiro 2007 - 6:00AM
PR Newswire (US)
ATLANTA and LONDON, Jan. 24 /PRNewswire-FirstCall/ -- CheckFree
Corporation (NASDAQ:CKFR) today confirmed it has successfully
completed the SWIFTNet Testing and Certification Service Proof of
Concept (POC) project for ISO 15022 corporate actions messages.
CheckFree is a leading provider of technology and services for the
financial services industry, including sophisticated, high-volume
solutions for middle-office, back-office and corporate actions
automation. The project tested the validity of ISO 15022 corporate
actions notification messages, submitted by CheckFree eVent(TM)
against the recently published guidelines by the Securities Market
Practice Group (SMPG). SMPG is an industry group focused on
defining and documenting securities industry communications
practices using ISO 15022 principles. This POC is the first step in
a SWIFT (the Society for Worldwide Interbank Financial
Telecommunication) initiative to test automated corporate actions
notification messages for compliance with SMPG's guidelines, and
also gauge support for future testing and certification. An
additional goal of this initiative is to look at ways to improve
the overall quality and adoption of ISO 15022 corporate actions
messages, leading to improved straight-through processing (STP) and
reduced risk in corporate actions processing. CheckFree's eVent
solution successfully submitted more than 55 different event types
and their respective corporate actions notification messages. These
messages all conformed to the correct mandatory and voluntary
indicators, as well as any use of option codes specified for the
event in the SMPG guidelines. In all cases, CheckFree eVent also
achieved an extremely high level of STP. Max L. Mansur, Product
Manager for Custodian Services at SWIFT, commented, "The recurring
message within the corporate actions community is that high data
quality coupled with consistent market practice adoption reduces
risk and processing costs. We are happy that CheckFree chose to
participate in this Proof of Concept and to help us confirm the
potential value of a testing service for our mutual clients."
Preston Hoffman, senior vice president and general manager of the
securities practice within CheckFree Software said, "This
initiative -- aimed at raising the quality and future adoption of
the ISO 15022 corporate actions messaging standards -- is further
commitment from CheckFree to provide high- quality processing
solutions and achieve exceptional customer service for our global
clients. As a long-term SWIFTReady Gold EAI accredited partner and
a SWIFTReady application in the corporate actions space, CheckFree
continues to maintain active involvement in industry initiatives
that promote the benefits of STP." By participating in the Proof of
Concept Project, CheckFree continues to invest in its eVent
corporate actions solution, allowing it to meet the ever changing
requirements of clients and the global financial services industry.
CheckFree's Applied Operational Intelligence(SM) approach helps
clients drive profitability and performance by combining innovative
software, proven expertise and business 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 help manage risk and efficiency, while
leveraging business intelligence to achieve measurable return on
investment. About CheckFree eVent Based on workflow technology,
CheckFree eVent automates the routing of corporate actions messages
to the designated person for action at the appropriate stage in the
lifecycle. Together with its comprehensive alert and escalation
facilities, this ensures that events can be responded to in an
efficient and timely manner. CheckFree eVent reduces the risk of
manual errors and provides valuable proof of compliance with audit
and archive facilities. Powerful management information tools
assist in the identification of bottlenecks and peaks, allowing you
to stay in control, concentrate on exceptions and improve service
quality. SWIFTReady accredited, CheckFree eVent is built on the
same financial messaging platform as the SWIFTReady Gold accredited
CheckFree TradeFlow(TM) solution. CheckFree eVent has achieved the
2006 B.I.S.S. Gold Accreditation for Corporate Actions Systems for
four consecutive years. This designation, along with the SWIFTReady
accreditation for Corporate Actions for three consecutive years,
further demonstrates CheckFree's strong commitment to technology
leadership in the corporate actions space. For more information
about CheckFree eVent and other products, visit
http://www.checkfreesoftware.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 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 Investor
Relations, Tina Moore, +1-678-375-1278, , both of CheckFree
Corporation Web site: http://www.checkfreecorp.com/
http://www.checkfreesoftware.com/
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