Checkfree Corp (MM) (NASDAQ:CKFR)
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Fifth Third Bank Selects CheckFree(R) PEP+(R) For Scalable,
Reliable Automated Clearing House Processing
-- With the addition of Fifth Third as a CheckFree PEP+ customer, CheckFree
claims 20 of the top 25 ACH originators among its customer base --
ATLANTA, Nov. 8 /PRNewswire-FirstCall/ -- CheckFree Software, a division of
CheckFree Corporation (NASDAQ:CKFR), today announced that Fifth Third Bank
(NASDAQ:FITB) will deploy CheckFree PEP+ to provide a more efficient and
customer-service-oriented Automated Clearing House (ACH) processing solution
for its corporate customers. Fifth Third Bank, a leading financial services
company, will use PEP+ to provide an online, real-time processing platform that
enables the origination and receipt of electronic payments through the ACH.
Fifth Third Bank operates 17 affiliate banks with over 1,000 full-service
banking centers and ATM operations in Ohio, Kentucky, Indiana, Michigan,
Illinois, West Virginia, Florida and Tennessee. Fifth Third currently uses
CheckFree ARP/SMS(TM), a real-time check and deposit reconciliation system and
CheckFree Frontier(TM) reconciliations solution to drive operational
efficiency, reduce costs and provide greater control over risk management. With
both Frontier and PEP+, Fifth Third can better manage transaction volumes,
increase efficiency and improve customer service.
"With the growing number of ACH transactions, Fifth Third needed a reliable,
scalable platform to handle our volume today and serve as a foundation for
future growth. PEP+ fit the bill," said Mary Jane Kelley, Director of Treasury
Management at Fifth Third Bank. "Fifth Third continues to broaden its service
offerings for our customers by expanding our relationship with CheckFree
Software to provide quicker processing and an integrated solution."
CheckFree Software offers superior functionality, automating virtually every
step in ACH processing, resulting in greater efficiency and customer service
capability. Key PEP+ features include: online access and control for
self-service and efficiency, risk management, multi-institutional processing,
automated stop payments, automated scheduling, debit authorization and
protection and automated settlement and returns.
"More than two-thirds of the nation's 10 billion ACH payments are currently
processed using PEP+ software," said Denny Oswalt, Senior Vice President and
General Manager of North American Operations for CheckFree Software. "By
leveraging CheckFree Software's expertise in this area, a company, such as
Fifth Third Bank, can realize improved flexibility, reliability and cost
efficiency with its streamlined process."
About Fifth Third Bancorp
Fifth Third Bancorp is a diversified financial services company headquartered
in Cincinnati, Ohio. The Company has $98.3 billion in assets, operates 17
affiliates with 1,006 full-service Banking Centers, including 129 Bank Mart(R)
locations open seven days a week inside select grocery stores and 1,873
Jeanie(R) ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida,
Tennessee and West Virginia. The financial strength of Fifth Third's Ohio and
Michigan banks continues to be recognized by rating agencies with deposit
ratings of AA- and Aa1 from Standard & Poor's and Moody's, respectively.
Additionally, Fifth Third Bancorp continues to maintain the highest short-term
ratings available at A-1+ and Prime-1 and is recognized by Moody's with one of
the highest senior debt ratings for any U.S. bank holding company of Aa2. Fifth
Third operates four main businesses: Retail, Commercial, Investment Advisors
and Fifth Third Processing Solutions. Investor information and press releases
can be viewed at http://www.53.com/ . Fifth Third's common stock is traded
through the NASDAQ National Market System under the symbol "FITB."
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 $1 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 10 billion Automated
Clearing House transactions in the United States. The division also provides
reconciliation, financial messaging, compliance and electronic billing and
statement software to hundreds 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, or
, both of CheckFree Corporation
Web site: http://www.checkfreecorp.com/
http://www.53.com/