CheckFree Launches Hosted Reconciliation and Exception Management Service

Solution eases reconciliation back office IT burden; delivers best practice expertise 


ATLANTA and BOSTON, Oct. 1  /PRNewswire-FirstCall/ -- Sibos Booth F43 -- CheckFree Corporation (NASDAQ:CKFR) today announced a new service for financial services organizations and corporations, CheckFree Reconciliation and Exception Management Hosted Service.  Organizations will benefit from a combination of best practice consultancy to continually optimize their reconciliation processes, together with a hosted service that takes away the day-to-day in-house IT management and maintenance of reconciliation and exception management systems.

With its experience derived from implementing and supporting more than 1,500 reconciliation systems worldwide and expertise in operations management, CheckFree has acquired a practical, in-depth knowledge of how to develop and configure reconciliation systems that meet an organization's business objectives.  With the new service, CheckFree will host the reconciliation system, data and hardware, eliminating the need for firms to manage internal systems maintenance and support.

"CheckFree's new Hosted Service will allow our organizations to focus their internal resources on more business critical assignments and move the burdensome process of maintaining an in-house reconciliation and exception management system to a hosted environment.  By reducing time-consuming tasks such as updating system parameters and allowing CheckFree to optimize these operations, CheckFree's Hosted Service can deliver best practices and provide expert support to continuously adapt and operate the system to perform at its peak," said Mark Cappell, senior vice president and managing director, reconciliation and exception management, CheckFree.

As part of the service, CheckFree's consultants work with organizations to enhance reconciliation processes to achieve higher match rates, optimize transaction speeds and regularly fine-tune the system to stay aligned with evolving business objectives.  This allows organizations to focus on serving customers and growing the business.

"A rapidly deployed and optimized hosted reconciliation service is a business process that can potentially reduce losses from transaction errors while increasing the efficiency of financial control.  CheckFree's Hosted Service can enable organizations to view reconciliations less as a problematic, cost-intensive resource that demands too much attention, and begin to use it as part of their strategic business plan as a core component of an effective back-office," said Cappell.

CheckFree's Hosted Service provides low-cost access to CheckFree's leading reconciliation and exception management solution, Accurate NXG(TM).  An intuitive, web-based interface enables easy access by any authorized user. CheckFree reconciliation and exception management solutions are deployed across a global customer base, including some of the largest domestic and international banks, custodians, brokers, asset managers, non-financial corporations and retailers.  For more information about CheckFree's reconciliation and exception management services, visit http://www.checkfree.com/.

The Advantage of the Applied Operational Intelligence(SM) Approach from CheckFree

The Applied Operational Intelligence(SM) approach from CheckFree helps our customers drive profitability, performance and regulatory compliance through a combination of our innovative software solutions and industry expertise.  The Applied Operational Intelligence approach is the process of applying our knowledge and experience, coupled with a business's best practices, to maximize profit, efficiency and risk mitigation potential.  Our goal is to enable clients to leverage their valuable business intelligence to achieve measurable return on investment by capturing and analyzing key data from across their organization through systems and technology to ensure it is disseminated to the right people, at the right time, in the right format.  Our objective is to deliver the best installed solution to your business.

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 financial services providers to offer the convenience of online banking, and along with 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 $1.8 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 nearly 14 billion Automated Clearing House transactions in the United States.  The division also provides financial institutions and other organizations with payment processing and consulting, reconciliation and exception management, fraud and risk management, cash and logistics management, and compliance software and services.

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, 2007 (filed August 24, 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:  Media Relations, Judy DeRango Wicks, [phone],

; or Investor Relations, Tina Moore, [phone],

, both of CheckFree Corporation



Web site:  http://www.checkfreecorp.com/ 

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