CheckFree to Strengthen Visionary EPL Platform with Multi-Currency, Multi-Language Corporate Actions Processing Engine
16 March 2006 - 1:00AM
PR Newswire (US)
Integration of CheckFree eVent to Deliver Automated Corporate
Actions Processing ATLANTA and JERSEY CITY, N.J., March 15
/PRNewswire-FirstCall/ -- CheckFree Corporation (NASDAQ:CKFR) today
announced plans to embed CheckFree eVent(TM), a powerful automation
and workflow solution with global coverage for corporate actions
processing, into its next-generation EPL (Enhanced Portfolio
Lifecycle) platform. By integrating CheckFree eVent into CheckFree
EPLSM, CheckFree will empower its clients to automatically receive,
validate and process corporate actions, from announcement through
to entitlement posting, resulting in significant time and cost
savings. CheckFree EPL is an advanced platform designed to meet the
needs of the next generation of investors, from baby boomers to the
emerging mass affluent. CheckFree EPL enables innovative solutions
that will support the new trends in the marketplace, such as the
UMH (Unified Managed Households), wealth management and overlay
functionality. CheckFree EPL will advance the technology, workflows
and services currently available through CheckFree APL, the
market-leading Separately Managed Accounts platform that provides
remote processing services to sponsor firms, money managers and
financial advisors for the automation of investment management,
trading, portfolio performance and investor reporting. CheckFree
EPL is browser-based and designed with Microsoft .NET technology to
deliver superior business, operational and cost efficiencies to
broker/dealer firms, banks, money managers and registered
investment advisors. "As EPL continues to evolve into a global
multi-transaction/multi-currency portfolio accounting solution, the
incorporation of a proven, global corporate actions engine that
offers complete out-of-the box functionality in an easy to use,
scalable model is essential to the continued development and
success of the platform," said Alex Marasco, executive vice
president and general manager at CheckFree Investment Services. "By
integrating CheckFree eVent into EPL, we will deliver a
comprehensive corporate actions processing solution that will grow
and expand with the market, providing our customers an effective
means to conquer this complex processing area." By embedding
CheckFree eVent as a key component of the EPL platform, CheckFree
EPL is being designed to process corporate actions against holdings
data for the more than 2 million accounts supported on the EPL
platform. CheckFree EPL will also offer seamless straight through
processing for mandatory and voluntary corporate actions. CheckFree
eVent enables organizations to more efficiently validate specific
corporate announcements and greatly reduce the potential risk that
incorrect or conflicting announcement data could adversely affect
subsequent operations, processes and business decisions downstream
from that event. CheckFree eVent is the only solution to provide
out-of-the-box packaged workflows for all 68 ISO corporate actions
types. CheckFree EPL will offer improved web functionality and
advanced efficiencies designed to reduce resource requirements of
client firms and deliver lower total cost of operation. 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 about $1.3 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 12 billion Automated Clearing House
transactions in the United States. The division also provides
operational risk management, financial messaging, corporate
actions, and regulatory compliance software to more than 1,500
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, 2005 (filed
September 2, 2005), Form 10-Q for the quarter ended September 30,
2005 (filed November 8, 2005), and Form 10-Q for the quarter ended
December 31, 2005 (filed February 8, 2006). 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, Judy DeRango
Wicks, +1-678-375-1595, or , or Investor, Tina Moore,
+1-678-375-1278, or , both of CheckFree Corporation Web site:
http://www.checkfreecorp.com/
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