Commerce Bank Selects CheckFree's ARP/SMS to Enhance Account Reconciliation and Positive Pay Services
16 Abril 2007 - 11:00AM
PR Newswire (US)
Best-In-Class Solution Will Create Additional Product Offerings,
Target New Customers and Leverage Existing Technology for
Customer-Driven, High-Growth Company ATLANTA, and CHICAGO, April 16
/PRNewswire-FirstCall/ -- Payments 2007, Booth #321 -- CheckFree
Corporation (NASDAQ:CKFR) today announced that Commerce Bank has
selected the CheckFree Account Reconciliation Package/Service
Management System(TM) (ARP/SMS(TM)). In addition, Commerce Bank has
upgraded to the CheckFree(R) PEP+(R) Risk Compliance Package.
CheckFree's PEP+, together with its comprehensive suite of add-on
modules, provides a complete solution for quickly and efficiently
originating and receiving payments through the Automated
Clearinghouse (ACH). By leveraging PEP+, Commerce has the potential
to improve operating effectiveness and risk management while
decreasing costs to serve its customers. The Commerce Cash
Management team at Commerce Bank, based in Cherry Hill, N.J.,
provides account reconciliation and positive pay services to
numerous large commercial and institutional customers, and has been
a CheckFree customer since 2001. Using a business model that
provides superior levels of customer service and convenience,
Commerce has become one of the fastest- growing companies in the
financial services industry. The CheckFree solutions will help
Commerce manage its growth and reinvest in the customer experience.
"CheckFree's solution will provide us with the functionality to
provide incremental value to our customers and give prospective
customers additional reasons to choose Commerce," said Tom Gregory,
senior vice president, Cash Management, at Commerce. "CheckFree has
demonstrated an ability to support the exponential business growth
at Commerce, to keep ahead of the curve relative to risk management
and to enhance our ability to serve customers." By implementing
CheckFree ARP/SMS, Commerce Bank is expected to benefit from a
fully integrated, online, real-time positive pay and reconciliation
system that provides the flexibility to deliver extensive and
automated positive pay reporting on a variety of accounts.
CheckFree ARP/SMS offers the extended functionality required to
support all Commerce Bank services including real time positive
pay, full reconcilement and robust client reporting. "We understand
that our overall effectiveness is measured by the success of our
clients," said Esther Pigg, vice president, global product
management for CheckFree Software. "By implementing the CheckFree
ARP/SMS and PEP+ Risk Compliance packages in conjunction with
CheckFree's Applied Operational Intelligence(SM) approach, Commerce
Bank expects to deliver best-in-class account reconciliation and
positive pay services while anticipating a reduction in fraud
losses and maintaining its competitive edge in the market."
Additional CheckFree ARP/SMS(TM) modules selected by Commerce Bank
include: -- CheckFree Payee Verification(TM), which is designed to
help provide additional fraud protection and positive pay services,
as well as the ability to specifically reconcile and match the
payee name. -- CheckFree Teller Positive Pay(TM), which enables
tellers to submit a real-time inquiry and receive the payment
recommendation immediately based upon the issue information on file
in the CheckFree ARP/SMS system. -- CheckFree e-Check Bridge(R) to
assist the bank to pass electronic, converted check data from
CheckFree's PEP+(R) into CheckFree ARP/SMS(TM) to ensure that
converted transactions pass the required positive pay edits and
provides an accurate reconcilement. 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.
CheckFree's PEP+ Risk Compliance Package includes the OFAC Monitor,
SEC Monitor, Debit Return Monitor and Prefunding modules. About
Commerce Bank (http://www.commerceonline.com/) Commerce Bank,
"America's Most Convenient Bank," is a leading retailer of
financial services with 400+ convenient stores in New Jersey, New
York, Connecticut, Pennsylvania, Delaware, Washington, D.C.,
Virginia, Maryland and Florida. Headquartered in Cherry Hill, N.J.,
Commerce Bancorp (NYSE:CBH) has $45.3 billion in assets and in
fiscal year 2006 achieved an 18% increase in core deposits, a 23%
increase in net loans and total asset growth of 18%. For more
information about Commerce, please visit the company's interactive
financial resource center at commerceonline.com, or call
888-751-9000. 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: Investor relations: Tina Moore, +1-678-375-1278, , or
Media relations: Judy DeRango Wicks, +1-678-375-1595, , both of
CheckFree Corporation Web site: http://www.checkfreecorp.com/
http://www.commerceonline.com/
Copyright
Checkfree Corp (MM) (NASDAQ:CKFR)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Checkfree Corp (MM) (NASDAQ:CKFR)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024