CheckFree Web 4.0 Makes it Easy for Mainstream Consumers to Become Satisfied Electronic Billing and Payment Users
19 Novembro 2003 - 11:30AM
PR Newswire (US)
CheckFree Web 4.0 Makes it Easy for Mainstream Consumers to Become
Satisfied Electronic Billing and Payment Users -- What's Next in
the Industry-Leading Platform: Simplified Single-Point Bill
Management Interface, Faster Payments, Self-reminder and
Notification E-mails, Enhanced Integration with Online Banking, and
the Highest Quality Customer Experience to Build Loyalty -- ATLANTA
and NEW ORLEANS, Nov. 19 /PRNewswire-FirstCall/ -- Retail Delivery
Conference Booth #2453 (November 19, 2003) -- CheckFree Corporation
today announced the newest version of its industry-leading
electronic billing and payment technology platform and service,
CheckFree Web(TM) 4.0. With CheckFree Web 4.0, financial services
organizations can provide the best consumer experience available,
and make it easy for mainstream consumers who try electronic
billing and payment to move from enrollment to bill set-up, to
scheduling and checking status of payments. In many cases,
consumers can elect to schedule same day and next day payments
increasing the value of the service with greater payment
flexibility. The new functionality greatly improves a customer's
ability to manage personal finances online, offering greater
control, convenience and time-saving benefits. Customers of
financial institutions offering CheckFree Web 4.0 will immediately
notice a more consumer-friendly user interface that will help
strengthen adoption rates. With a single screen, the application
consolidates access to the most frequently used features, such as
making payments, setting up and managing e-Bills, and viewing
payment history. The new Single-Point Bill Management center
improves site navigation and guides customers through all bill
viewing, payment and status monitoring activities. CheckFree Web
4.0 significantly streamlines the entire user experience, enabling
more intuitive, easier access to rich features with significantly
fewer clicks. The new platform is the result of extensive client
and consumer research, usability testing and development
investments, from which CheckFree consumer services providers
benefit. A July 2003 consumer survey with Vividence, which compared
version 3.2 of the CheckFree service to an early version of
CheckFree Web 4.0, found that the consumer experience dramatically
improved across all key performance metrics. These metrics included
a consumer's likelihood to return to the service, overall
satisfaction, overall organization, expectations met, site speed,
and likelihood to recommend. In addition, the customer acquisition
metric improved by almost 100 percent from version 3.2 to the early
version of CheckFree Web 4.0. Faster Payment Processing and
Enhanced E-Mail Capabilities CheckFree's consumer research found
that users instinctively want balances updated, and payments made
and credited faster. CheckFree offers the highest electronic rate
in the industry - more than 75 percent of payments are sent
electronically from the consumer's bank to the merchant - which
enhances efficiency, accuracy and security. Due to this extensive
network of merchant relationships and payment routing options,
CheckFree Web 4.0 enables consumers to use a dynamic calendar to
view and choose earliest available payment dates, which may be the
same day or next day, to schedule payments. The status of each
payment is updated when the remittance information is sent, and
again when the merchant reports that the payment has been processed
and posted. Other payment processing enhancements include advanced
account transfer capabilities that enable consumers to schedule
funds transfers from one account to another, either within the same
financial institution or from one institution to another. Consumers
can now also use the application to send reminders to themselves
about when bills are due, for a CheckFree e-Bill(SM) but also for a
"pay anyone" smaller merchant bill, such as a day care provider.
Through a secure link, they can then schedule payment of a specific
bill from within the reminder e-mail. This provides a greater level
of control and assurance that the consumer has done everything
possible to manage their money by scheduling bills to be paid on
time. In addition, consumers are protected by the CheckFree
Guarantee against liability for fraud, and late fees or interest
charges on the payment amount if the payment was scheduled to
arrive on time. Consumers can also receive past due notices,
payment posting confirmations and e-Bills sent directly to their
e-mail inbox. Tighter Online Banking Integration and Improved
Analytic Tools CheckFree's infrastructure allows "in session"
connection technology for two-way sharing of data and flexible
integration of other online banking information alongside the
service, so consumers can view balances or other online banking
data. Within the electronic billing and payment application,
consumer service providers can display funding account balances at
the time the consumer logs into the product. Additional integration
tools make real estate on the CheckFree Web interface available for
providers to leverage cross selling of other financial products. An
education demonstration on CheckFree e-Bill is promoted within the
application to encourage activation. In addition, new users are
guided through the process of adding payees and scheduling
payments, while returning users are taken directly to the Bill
Management Center. CheckFree Web 4.0 consumer service providers
will also find a new set of data analytic tools and services that
enable them to better understand their customers' behavior,
integrate with their online banking strategies, and market
additional services. With the new release, CheckFree will provide
complete Customer Intelligence, enhanced data feeds and analytics
for greater subscriber insight, including such rich data as
subscriber activity, payment history or full transaction analytics
that may even be married with consumer survey data. In addition,
CheckFree will offer Dynamic Data Stream components that include
pending payment information from a real-time feed that populates a
consumer's check register within the online banking application.
Intelligent Payee Set Up, e-Bill Activation and Management
CheckFree's exclusive, new Suggested Billers feature makes
CheckFree e-Bill activation easier than ever by providing an
intelligent list of the most popular billers in a customer's area
based on zip code. Payee and e-Bill set up is also greatly
streamlined, with a "smart" setup tool that asks for the minimum
amount of information necessary, such as biller name, account
number and zip code. Supported by CheckFree's vast merchant
network, the application can match each consumer's payment with the
accurate electronic payment destination or lockbox address. As they
add a bill, the ability to select convenience options such as
automatic payments, providing payment amount parameters within
which the payment should be automatically paid, and e-mail
notifications and payment confirmations are easily accessed from
one page. The activation of e-Bills is important to consumer
service providers as shown in primary research from CheckFree
Research Services (April 2003) that found providers whose
subscribers have activated electronic bills experienced higher
retention, product usage and payment volume rates, and enjoyed
significantly lower customer care support costs associated with
electronic billing and payment transactions. "CheckFree Web 4.0
provides our financial services and banking partners with new
features that will help develop better relationships with
customers, increase adoption and activation of electronic billing
and payment services and meet the financial management needs of
consumers," said Steve Olsen, executive vice president and general
manager of CheckFree's Electronic Commerce Division. "When
organizations choose the CheckFree Web platform, they implement an
industry-leading solution built on over 20 years of experience and
ongoing consumer research. In addition, those customers benefit
from our singular focus on the electronic billing and payment
service and an unwavering commitment to Sigma-level quality, from
our operations to customer care support services, to meet the needs
of the mainstream consumer." The Value of CheckFree Behind the new
product lies a total partnership between CheckFree and its
customers. CheckFree is committed to continuous innovation, was the
first company to launch the Internet bill and has more than two
decades of experience in pioneering electronic payment solutions.
CheckFree customers benefit from its product lifecycle management
investments from research to concept, usability, and delivery.
CheckFree extends this expertise to its customers by offering
account support, client services, merchant relationships, customer
care support that is seamless to the consumer user, marketing and
consultation services, and market research. Financial institutions
do not simply get an application when they select CheckFree Web
4.0, they benefit from the breadth and depth of CheckFree's
experience, and its dedication to providing the highest quality
consumer experience available, which is necessary for consumer
adoption to occur. Unmatched Focus on Quality One result of
CheckFree's Sigma Quality program was that this year CheckFree
voluntarily raised its service level agreements for consumer
service provider clients. This new SLA holds the company to the
highest standards in online service availability, file processing
delivery, payment accuracy, and payment investigation among other
measurements. These increased customer commitments were made
possible by the consistent level of efficiency and performance that
CheckFree's end-to-end Genesis electronic billing and payment
platform achieves. This platform was built to scale to accommodate
U.S. consumer adoption, including e-Bill and payment processing at
high volumes. In addition, CheckFree this year raised the minimum
service requirements for its customer care operations, including
e-mail inquiry resolution, and is adding a new minimum threshold
for telephone hold times, to guarantee continuous and timely
response for first-tier customer support on behalf of consumer
service providers. CheckFree will deliver CheckFree Web 4.0 through
its client development organization and network of value added
resellers. Contact 1-800-532-9696 to receive a demonstration. About
CheckFree ( http://www.checkfreecorp.com/ ) CheckFree (NASDAQ:CKFR)
is the leading provider of financial electronic commerce services
and products. Founded in 1981 and celebrating its 23rd year in
e-commerce, CheckFree is comprised of three divisions: Electronic
Commerce, Software, and Investment Services. CheckFree launched the
first fully integrated electronic billing and payment solution in
1997. In the quarter ended September 30, 2003, more than 11 million
consumers initiated online payments through services offered by
CheckFree's Electronic Commerce division. Electronic billing and
payment is available through more than a thousand financial
services organizations, including banks, brokerage firms, Internet
portals and personal financial management (PFM) software. At these
sites, consumers are able to electronically receive and pay about
300 bills, representing the bills most common to a U.S. household.
CheckFree delivers nearly 15 million e-Bills each quarter.
CheckFree Investment Services provides a broad range of investment
management services to thousands of financial institutions
nationwide. The division's clients manage more than 1.3 million
portfolios totaling more than $700 billion in assets. CheckFree's
Software division provides solutions through three operating units:
CheckFree ACH Solutions, CheckFree Financial and Compliance
Solutions (CFACS), and CheckFree i-Solutions. CheckFree ACH
Solutions provides software and services that are used to process
more than two-thirds of the nation's nine billion Automated
Clearing House payments, while CFACS provides reconciliation and
compliance software and services to more than 500 organizations in
the banking, brokerage, utility, retail, insurance and credit card
industries, among others. CheckFree i-Solutions is the leading
provider of e-Billing and e-statement software and services for
both business-to-consumer and business-to-business applications,
with more billers as clients than all of its competitors have
combined. 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 Company's Form 10-K
for the year ended June 30, 2003 (filed September 15, 2003) and
Form 8-K (filed October 21, 2003). There can be no assurance that
the forward-looking statements made in this document 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 email, , or
Investor relations, Tina Moore, +1-678-375-1278, or email, , both
of CheckFree Corporation Web site: http://www.checkfreecorp.com/
Company News On-Call: http://www.prnewswire.com/comp/821650.html
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