Loomis Sayles Realizes Benefits with CheckFree eVent for Corporate Actions Processing in North America
02 October 2007 - 11:00PM
PR Newswire (US)
ATLANTA and BOSTON, Oct. 2 /PRNewswire-FirstCall/ -- CheckFree
Corporation (NASDAQ:CKFR) today announced that Loomis, Sayles &
Company, L.P., an investment management firm headquartered in
Boston with $115 billion in assets under management, has completed
a significant milestone using CheckFree eVent(TM) in the first
phase of a strategic project to deliver an automated end-to-end
corporate actions processing solution. This milestone was reached
in four months and has enabled Loomis Sayles to automate its
announcement capture process with five major custodians,
representing significant volume and a building block for further
coverage across its entire range of custodians. With the ability to
electronically receive and validate corporate action announcements
via SWIFT and automatically populate its corporate actions diary
with key event data, Loomis Sayles expects to minimize the
operational risk associated with being notified of these events.
"CheckFree's proven in-depth understanding of the corporate actions
marketplace has enabled us to progress rapidly in implementing this
comprehensive solution that will significantly minimize the
potential risk of operational losses. CheckFree met all of the
project's original expectations, demonstrating wide-ranging product
functionality, and the ability to collaborate and deliver the
project on time, which was made possible due to a comprehensive
support structure. Consequently, this milestone in phase one was
completed on budget in only four months," said Steve Chittenden,
vice president and director of investment operations, Loomis
Sayles. "Loomis Sayles began testing announcement messages from our
custodian banks only a month after signing our agreement with
CheckFree and have already begun the second implementation phase."
Loomis Sayles' second implementation phase is designed to
incorporate position capture and reconciliation. Phase three is
intended to deploy CheckFree eVent to automate voluntary corporate
actions with decision processing and additionally entitlement
capabilities. "CheckFree consultants have worked in close
cooperation with Loomis Sayles to implement the first phase of
CheckFree eVent in its strategic approach to corporate actions
automation," said Gary Mercer, managing director, CheckFree. "We
have been able to secure the smooth and rapid implementation of the
announcement capture module and we are already helping Loomis
Sayles to potentially optimize the benefits from automating
corporate actions processing." CheckFree eVent has achieved the
B.I.S.S. Research Gold Accreditation for corporate actions systems
for five consecutive years, which demonstrates CheckFree's strong
commitment to technology leadership and business functionality
strength in the corporate actions space. CheckFree eVent, which has
strong financial messaging capabilities, a fundamental component of
delivering a corporate actions solution, has also achieved the
SWIFTReady Gold accreditation for nine consecutive years. About
CheckFree eVent CheckFree eVent is a modular, workflow-driven
solution that allows custodians, broker/dealers, investment houses,
fund managers and third-party administrators to minimize corporate
actions risk. The solution can enable companies to also contain
costs and improve customer service by providing better information,
avoid losses and increase efficiency and scalability. For more
information about CheckFree eVent and other products visit
http://www.checkfree.com/. About Loomis Sayles Since 1926, Loomis,
Sayles & Company, L.P. has been focused on a single goal: to be
the best possible investor. Loomis Sayles has earned the trust and
loyalty of institutional and mutual fund investors around the
world, and today manages more than $115 billion in equity, fixed
income and alternative strategies. Loomis Sayles is an indirect,
wholly-owned subsidiary of Natixis Asset Management Group, L.P.
("Natixis US") (formerly IXIS Asset Management US Group, L.P.),
which is part of Natixis Global Asset Management (formerly IXIS
Asset Management Group), an international asset management group
based in Paris, France and is one of the world's 15 largest asset
managers* with $835 Billion in assets under management as of
6/30/07. * Pensions & Investments/Watson Wyatt, September 2006
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: Investor
Relations, Tina Moore, +1-678-375-1278, , or Media, Judy DeRango
Wicks, +1-678-375-1595, , both of CheckFree Corporation Web site:
http://www.checkfreecorp.com/ http://www.checkfree.com/
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