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CheckFree and Selesta Partner to Bring New E-Billing and
Financial Transaction Workflow Solutions to Italy
ATLANTA and LONDON, July 7 /PRNewswire-FirstCall/ -- CheckFree Software, a
division of CheckFree Corporation (NASDAQ:CKFR), today announced a new
agreement with Selesta, S.p.A. one of Italy's leading IT software and systems
integration providers, to market CheckFree's electronic billing and financial
transaction management solutions. Selesta identified an increasing demand from
the Italian business and consumer markets for both Internet-based bill delivery
and payment solutions and risk-reducing reconciliation and securities
settlement technology. As a result, the company recently established two new
business lines to harness these growing opportunities, and has chosen CheckFree
as its technology partner in both markets.
Under the terms of the partnership, Selesta will represent four different
products from CheckFree Software. CheckFree i-Series is the world's leading
electronic billing and statement delivery solution for banks, credit card
providers, telecommunications, utilities, manufacturing, logistics and other
high volume billers. CheckFree MessageBroker is the de facto standard solution
for financial messaging middleware. CheckFree TradeFlow TPM automates
securities confirmation and settlement workflow and exception management.
CheckFree RECON-Plus Frontier provides enterprise-wide reconciliation and
matching. Working together, these CheckFree Software solutions provide a global
straight through processing (STP) environment for payments, trades and other
financial transactions for enhanced operational efficiency and corporate risk
management.
Selesta has a twenty-year reputation for representing only best-of-breed
solutions and has developed long-term relationships with customers from among
Italy's top 200 companies including banks, government and large corporate
organisations. Adriano Prefumo, President of Selesta, said, "Selesta has been
very impressed with the work done by CheckFree already in Italy, at a major
investment management service provider, using the TradeFlow products for order
routing and error reduction, on a nationwide initiative to connect billers and
banks in Italy with CheckFree i-Series software."
Says Mr. Prefumo: "Business rules are becoming increasingly international for
e-billing, financial messaging, reconciliation and other major types of
applications. It therefore makes good sense, both from a technology and
economic point of view, to work with the international leader across these
markets."
Sean Feeney, executive vice president and general manager, CheckFree Software,
comments: "The relationship with Selesta enables CheckFree to strengthen its
presence in the Italian market and provide multiple product lines through a
single organisation that is respected within the financial services and billing
industries."
About CheckFree ( http://www.checkfreecorp.com/ )
CheckFree (NASDAQ:CKFR) is a 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 March 31, 2004, more
than 13 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 essentially all the bills most common to a U.S. household.
CheckFree delivers 22.5 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 nearly 1.5
million portfolios totaling more than $900 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,
financial messaging, workflow and compliance software and services to more than
600 organizations in the banking, brokerage, investment management, 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.
About Selesta ( http://www.selesta.com/ )
Selesta S.p.A. is one of the Italian successes (of international scope),
playing a major role in the world of Information Technology, especially in the
large enterprise environment. Currently, the company is subdivided into
Business Units in Italy: Networks & Systems Management, Business Applications
Support Systems, Applications for Integrations, Corporate Business and Key
Accounts, and made up of joint-stock companies like: Selesta Ingegneria,
Selesta Security Systems and Selesta Ars. Selesta S.p.A. stands out on the IT
market for its ability to understand the specific evolving needs of its clients
and to propose technologies, solutions and innovative and leading edge projects
with the uniqueness of "dedication" with the certainty of reaching the
objectives set. Selesta S.p.A. operates in Italy from the head office and
historical seat in Genoa and the offices of Milan, Rome, Turin, Vicenza and
Bologna. At the international level the branch offices are: Madrid, Lisbon and
Paris.
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,
2003 (filed September 15, 2003), Quarterly Report on Form 10-Q for the quarter
ended September 30, 2003 (filed November 13, 2003), Quarterly Report on Form
10-Q for the quarter ended December 31, 2003 (filed February 12, 2004), and
Quarterly Report on Form 10-Q for the quarter ended March 31, 2004 (filed May
14, 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, or
, both of CheckFree Corporation
Web site: http://www.checkfreecorp.com/