Skandia International Selects CheckFree's Accurate NXG Dashboard to Help Meet Regulatory Requirements
12 Março 2007 - 6:00AM
PR Newswire (US)
ATLANTA and LONDON, March 12 /PRNewswire-FirstCall/ -- CheckFree
Corporation (NASDAQ:CKFR) today announced that Skandia
International, the cross-border, offshore division of the Skandia
UK Group, has selected CheckFree's Accurate NXG(TM) Dashboard to
add an extra level of sophistication and transparency in its
reporting processes, enabling the company to comply more easily
with regulations such as Sarbanes-Oxley. Skandia International is
based in the Isle of Man, which is part of the British Isles. The
Accurate NXG Dashboard will increase transaction transparency by
enabling Skandia International to submit a summary of the
reconciliation for signoff by a senior manager while maintaining a
clear audit trail of each step in the reconciliation process. The
dashboard will also deliver improved operational and administrative
controls to support the segregation of duties as recommended by
regulations in the United Kingdom and Europe. Skandia International
is a leading provider of offshore savings products and offers a
range of innovative and market-leading investment solutions for
investors around the world. It is part of the Skandia UK Group,
which is one of the United Kingdom's top 10 financial services
providers, and has been a customer of CheckFree for nine years.
Skandia UK already uses CheckFree's Accurate NXG automated
reconciliation solution to manage its exposure to risk, cut
processing time and manage costs across the enterprise. The
Accurate NXG Dashboard will be housed in the Isle of Man and will
be implemented via thin-client, browser-based technology across
some of Skandia's offshore operations. Using the dashboard
technology, Skandia International staff in the Isle of Man and in
Dublin, Ireland, will have direct access to exceptions information
to improve the investigation and resolution of transaction errors,
ultimately reducing the incidence of errors in the future while
speeding processing time. "We consider CheckFree to be a trusted,
long-term partner with considerable domain expertise that is
enabling us to improve visibility both at a detailed and aggregate
level," said John Hollis, finance director at Royal Skandia. "The
Accurate NXG Dashboard will give our senior management instant
visibility on critical areas of potential loss, while also giving
us a more sophisticated reporting capability that will effectively
deal with the increasing requirements of the regulators. The
solution supports the reconciliation of all transactions and the
querying of any outstanding items to enable us to report month-end
figures rapidly to meet internal and external audit requirements."
"With today's demanding and highly regulated environment, reducing
costs and minimising exposure to risk continue to be top priorities
for financial institutions such as Skandia," said Elizabeth Elkins,
vice president of global sales strategy at CheckFree Software. "The
Accurate NXG Dashboard will allow Skandia International to access
critical information easily and in real-time throughout the
enterprise, while also helping the firm meet important compliance
requirements." CheckFree's Applied Operational Intelligence(SM)
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 Royal Skandia
(http://www.royalskandia.com/) Royal Skandia is the leading brand
of Skandia International, a provider of offshore savings products.
It offers a range of innovative and market-leading investment
solutions for investors around the world. Royal Skandia is based on
the Isle of Man and is a major force in the offshore market place.
It operates in an environment where confidentiality of information
is fundamental, subject to any obligations imposed by law or
regulations. Skandia International is part of Skandia UK, a
division of the Skandia Group, itself owned by Old Mutual plc. Old
Mutual is an international financial services group, listed on the
London Stock Exchange where it is a FTSE 100(R) company, making it
one of the largest 100 companies listed on the London Stock
Exchange. Old Mutual is headquartered in London. 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 $1.7 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), Form 10-Q
for the quarter ended September 30, 2006 (filed November 8, 2006)
and Form 10-Q for the quarter ended December 31, 2006 (filed
February 8, 2007). 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 , both of
CheckFree Corporation Web site: http://www.checkfreecorp.com/
http://www.royalskandia.com/
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