CKFR Checkfree Corp (MM)

ATLANTA and LAS VEGAS, Oct. 17 /PRNewswire-FirstCall/ -- Association for Financial Professionals Conference, Booth #623 -- CheckFree Corporation (NASDAQ:CKFR) today announced that Frost Bank has selected the CheckFree PEP+(R) Fraud and Risk Protection Package. The four solutions that comprise the solution suite are designed to enable Frost Bank, a division of Cullen/Frost Bankers Inc. (NYSE:CFR), to improve regulatory compliance and mitigate risk across the firm's Automated Clearing House (ACH) processes. Frost Bank has worked closely with CheckFree since 1985 to achieve ACH processing excellence. "The CheckFree PEP+ Fraud and Risk Protection Package should enable us to provide real business value to our customers by minimizing fraudulent activity and better managing potential risk exposures while helping us meet government and regulatory requirements," said Neil Pruski, ACH Product Manager with Frost Bank. CheckFree's PEP+ Fraud and Risk Protection Package includes the PEP+(R) OFAC Monitor(TM), SEC Monitor(TM), Debit Return Monitor(TM) and Prefunding(TM) modules. These solutions will enable Frost Bank to: - Scan ACH cross-border entries that it originates or receives against the Specially Designated Nationals and Blocked Persons (SDN) list to identify unlawful entries. - Better track how customers are using ACH services and assist in detecting suspicious actions. - Monitor and report returned items across all standard entry classes to identify potentially fraudulent originators. - Create a settlement transaction on the date the file is presented by the corporate customer to guard against returns losses for those bank customers that present a higher risk. According to Esther Pigg, vice president of global product management for CheckFree Software, "CheckFree's Applied Operational Intelligence(SM) approach, combined with the PEP+ Fraud and Risk Protection Package of solutions, enables organizations to focus on their core business -- with the confidence of knowing that compliance reporting and tracking are being handled efficiently and in accordance with government standards. These solutions will assist Frost Bank in minimizing risk exposure for the bank and its customers." 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. The Applied Operational Intelligence approach is expressly designed to manage risk and efficiency, while leveraging valuable 'operational intelligence' to achieve measurable return on investment. CheckFree PEP+, together with its comprehensive suite of add-on modules, provides a complete solution for quickly and efficiently originating and receiving payments through the ACH, improving operating effectiveness and decreasing costs. About Frost Bank (http://www.frostbank.com/) Cullen/Frost Bankers, Inc. (NYSE:CFR) is a financial holding company, headquartered in San Antonio, with assets of $11.4 billion at June 30, 2006. The corporation provides a full range of commercial and consumer banking products, investment and brokerage services, insurance products and investment banking services. Its subsidiary, Frost Bank, operates 93 financial centers across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost is the largest Texas-based bank, with a legacy of helping Texans with their financial needs during three centuries. 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 their customers the convenience of receiving and paying their household bills online or 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 $1.4 trillion in assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two-thirds of the 14 billion Automated Clearing House transactions in the United States. The division also provides operational risk management, financial messaging, corporate actions, and regulatory compliance software to more than 1,500 organizations across the globe. 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). 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 , or Investor relations, Tina Moore, +1-678-375-1278, or , both of CheckFree Corporation Web site: http://www.checkfreecorp.com/ http://www.frostbank.com/

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