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CheckFree Wins Multiple Gold Awards in New CityCompass Corporate
Actions Benchmark Report
LONDON and ATLANTA, Sept. 15 /PRNewswire-FirstCall/ -- CheckFree Software, a
division of CheckFree Corporation (NASDAQ:CKFR), today announced that its
advanced Corporate Actions solution, CheckFree eVent(TM), has just achieved
several gold accreditations in the new corporate actions (CA) report:
Benchmarking of International Systems and Services (BISS) (1). The report was
commissioned by CityCompass, an independent financial services consultant, and
prepared by Andrew Chilcott, a senior analyst at Bloor Research, assisted by a
panel representing a cross-section of securities practitioners including BNP
Paribas SS, UBS, Dresdner Kleinwort, Baring AM, HSBC and others.
The CityCompass BISS report has been broadly divided into three categories: CA
systems for Asset Managers, Broker/Dealers and Custodians. CheckFree won a gold
label accreditation in the two areas considered to be the most challenging to
implement - Broker/Dealers and Custodians.
According to the report, CheckFree scored well in meeting the needs of business
requirements, in the richness of its technical functionality and in system
maturity. The report also recognises that CheckFree has not only achieved
SWIFTReady label status for Corporate Actions, but has the additional ability
to generate payment messages. It cites CheckFree as having excelled in several
key areas. Says Andrew Chilcott: "CheckFree stood head and shoulders above all
the others in providing a step by step, date by date demonstration of every
trigger and task undertaken in processing the four events. If I had been a
customer, I would have been suitably impressed by the ease of configuration,
the transparency of the processing and the care that had been taken to make the
demonstration specific to me as a potential customer. I must commend CheckFree
on their achievement and setting a standard that other vendors would do well to
follow."
CheckFree is also the only solution cited in the report that was able to openly
identify the problem of bonds with attached coupons that do not get announced -
an important feature of calculating fixed interest entitlements. When it came
to issuing confirmations via the Web, CheckFree was mentioned as having a
'notably good solution.' It was further mentioned that the addition of a
web-browser makes widespread deployment and system management much easier.
Overall, the report confirms that CheckFree always scores highly when the
quality of systems and its architecture are taken into account.
Amery Thomas, senior vice president of International Operations for CheckFree
Software, said: "We are honored to have been so well reviewed in a report that
carries the weight of such prestigious industry experts as Andrew Chilcott and
CityCompass. These findings reflect and reward the progress we have made in
the latest release of CheckFree eVent and the hard work of a broad team of
experts here who have produced a truly end-to-end solution that delivers a low
risk 'out of the box' deployment in corporate actions, the most complex of
financial software environments."
CheckFree eVent is a next generation corporate actions automation workflow and
exception management suite and one of only two CA solutions to have achieved
SWIFTReady CA accreditation. Developed by HelioGraph Ltd., which is now part
of CheckFree Software, eVent offers a rules-based design with a large library
of extensively pre-tested templates and supports SWIFT and other major
standards, leveraging an inherently integrated architecture to provide truly
global straight through processing (STP) capabilities.
Footnotes:
1 'Benchmarking Corporate Actions Systems & Information Services 2004',
published Sept 2004.- Prepared by CityCompass & Bloor Research
2 Ibid
3 Ibid
About CityCompass
http://www.citycompass.org/
Initially conceived and founded by five senior financial services industry
operations professionals, CityCompass was incorporated in May 2000 to provide a
unique range of services to suppliers and users of products in the financial
services industry. These services encompass reports providing independent
analyses and opinion and information on topical industry issues, thought
leadership events, event creation and management, agent consultancy and
training.
About Bloor Research
http://www.bloor-research.com/
Bloor Research is a leading independent IT analysis and consultancy company,
specialising in providing strategic advice and guidance based on practical
experience. Its objective is to save clients' time by providing comparison and
analysis that is clear and succinct; update clients' expertise, enabling them
to have a clear understanding of IT issues and facts and validate existing
technology strategies and bring an independent perspective, minimising the
inherent risks of product selection and decision-making. Bloor Research's
reputation is built on the quality of its primary research and analysis work
and the experience and expertise of its analysts.
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 more than $900 billion in assets. CheckFree
Software develops, markets and supports software applications that are used by
financial institutions to process more than two-thirds of the 10 billion
Automated Clearing House transactions in the United States. The division also
provides global trade processing, reconciliation, financial messaging,
compliance and electronic billing and statement software to thousands of
organizations across the globe.
Certain of CheckFree'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 CheckFree's
business, and other risks and uncertainties detailed from time to time in
CheckFree's periodic reports filed with the Securities and Exchange Commission,
including CheckFree's Annual Report on Form 10-K for the year ended June 30,
2004 (filed September 3, 2004). One or more of these factors have affected, and
could in the future affect CheckFree'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
CheckFree, or any other person, that the objectives and plans of CheckFree will
be achieved. All forward-looking statements made in this press release are
based on information presently available to management, and CheckFree 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,
, both CheckFree Corporation; or UK media, Elaine Graham
EG Communications, +44 (0)7919 554660, or
Web site: http://www.checkfreecorp.com/
http://www.citycompass.org/
http://www.bloor-research.com/