CKFR Checkfree Corp (MM)

Announces Technology Agreement with CheckFree ATLANTA, Sept. 7 /PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE:STI) today announced its plan to introduce a new investment platform in 2008 for the approximately 250,000 clients served by the bank's Wealth & Investment Management line of business. The multi-style, multi-advisor, single-account service can provide clients enhanced diversification through a wider range of traditional and alternative investment vehicles. The new open architecture platform is designed to provide access to 'best in class' institutional-caliber asset management firms outside the SunTrust network and to optimize tax-sensitivity and asset class rebalancing while accommodating client-specific account guidelines. According to Bill Rogers, Corporate Executive Vice President and head of SunTrust's Wealth & Investment line of business, this 'Unified Managed Account' represents the next step in the evolution of investment advisory offerings by packaging multiple investment products such as separately managed accounts (SMAs), mutual funds and exchange traded funds (ETFs) into a single managed account. "With this new offering, we are being responsive to our clients' individual needs and building upon SunTrust's legacy in wealth and investment management," said Mr. Rogers. "By blending current investment strategies, clients will be able to take advantage of our enhanced asset allocation framework and a broader selection of investment managers in one convenient account. Aligning clients' existing portfolios to the new investment platform will provide them access to all these valuable resources." SunTrust will act as overlay manager rather than outsourcing this critical role in order to deliver the highest customization possible to clients. Overlay technology that enables interconnection among the multi-advisor systems across the platform will be provided by CheckFree's Investment Services division (NASDAQ:CKFR) which recently acquired Upstream Technologies, LLC, a leading provider of investment management solutions for asset managers. Commenting on the partnership, Pete Kight, Chairman and CEO of CheckFree said, "SunTrust has been a valued customer and partner with CheckFree for many years, and is well known for its history in trust and wealth management. By leveraging CheckFree's capabilities, SunTrust will be able to bring a higher level of customization to the bank's clients, and optimize their ability to deliver on objectives by accessing multiple experts and investment options." The new investment platform complements the solutions currently offered to SunTrust Wealth & Investment Management clients. Capabilities range from wealth planning to investment advisory, fiduciary services including estate and financial planning, to credit advisory services for personal clients. Institutional clients also enjoy a wide range of capabilities ranging from 401K Plan Sponsor support to custody, planned giving, and administrative services meeting the needs of nonprofit organizations. SunTrust Wealth & Investment Management, with approximately $250 billion in managed and advised client assets, delivers these solutions primarily through a team-based model led by advisors with deep expertise in the fiduciary and wealth management and institutional investment needs of personal and institutional clients, respectively. With over 100 years experience in trust, wealth and investment management, SunTrust has developed and acquired expert fiduciary and investment talent. SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of June 30, 2007, SunTrust had total assets of $180.3 billion and total deposits of $122.9 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24- hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides credit cards, mortgage banking, insurance, brokerage, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com DATASOURCE: SunTrust Banks, Inc. CONTACT: Hugh Suhr of SunTrust Banks, Inc., +1-404-827-6813 Web site: http://www.suntrust.com/

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