- From mobile banking and payments to online personal finance management
tools, CheckFree helps financial institutions optimize their 'virtual branch'
-- the online channel -
ATLANTA and LAS VEGAS, Nov. 14 /PRNewswire-FirstCall/ -- BAI Retail
Delivery Conference & Expo, Booth # 1417 -- CheckFree Corporation
(Nasdaq: CKFR) today introduced a suite of Online Channel Optimization
Solutions(SM) designed to help financial institutions expand their reach and
generate opportunities to acquire new customers at reduced cost, build deeper
customer relationships to increase retention, and drive revenue growth and
profitability by leveraging up-sell and cross-sell opportunities.
During this week's BAI Retail Delivery Conference & Expo, CheckFree will
introduce CheckFree Small Business, an integrated electronic bill payment,
invoicing and receivables solution that financial institutions can offer to
their small business customers, and CheckFree Web RXP(SM), the latest
innovation in its industry-leading electronic billing and payment platform.
Mobile Banking & Payments: The Next Big Thing Presentation on Wednesday,
In addition, CheckFree and its exclusive partner, Firethorn Holdings, LLC,
will demonstrate a new mobile banking and bill payment solution, announced
last week, that will enable consumers to check financial account balances,
transfer funds and receive and pay bills. CheckFree will host a special
Solutions Theater presentation, "Mobile Banking & Payments: The Next Big
Thing" on Wed., Nov. 15 from 11:10 a.m.-11:40 a.m. in Theater #3 at the
Mandalay Bay Resort & Casino exhibit hall in Las Vegas.
CheckFree has recently broadened its portfolio of online financial
services solutions beyond its core electronic billing and payment service to
include fraud detection and monitoring, money management tools and online
account opening, funding and transfers. These services are part of the new
suite of Online Channel Optimization Solutions for financial institutions.
The online channel is expected to be a source of significant future growth
and investment for financial institutions. Aite Group projects that revenue
generated through an institution's online channel will grow from the current 3
percent of total revenue (in 2006) to 13 percent by 2010.
"Consumers are increasingly looking to their banks, credit unions and
brokerage firms to provide more convenient ways to manage a broader range of
financial activities online, from paying bills to managing the family budget
to opening and funding new accounts," said Matt Lewis, executive vice
president and general manager of CheckFree's Electronic Commerce Division.
"CheckFree's Online Channel Optimization Solutions enable financial
institutions to unlock the full potential of their online channel to meet
their customer acquisition, retention and profitability goals, while reducing
operating costs and leveraging strategic information to help grow their retail
CheckFree's theme at the conference invites attendees to "Imagine More ...
More Relationships, More Revenue, More Growth." Through its suite of Online
Channel Optimization Solutions, CheckFree helps financial institutions turn
these aspirations into business realities. CheckFree will demonstrate its
broadened portfolio of solutions in Booth #1417 at the BAI Retail Delivery
Online Money Management: Provides personal financial management
capabilities such as financial forecasting, budgeting, spending analysis and
transaction history tools.
Mobile Banking and Payments: Enables financial institution customers to
perform a wide variety of common online banking functions (pay and receive
bills, view account balances, transfer funds) anytime and anywhere using their
phones, PDAs, or other mobile devices.
Security and Fraud Prevention: Deploys fraud prevention technology that
flags suspicious transactions in real time before they are processed.
Small Business Solutions: Delivers an integrated electronic billing and
payment solution designed specifically for financial institutions' small
business customers, with added functionality that small businesses value such
as the ability to send e-invoices and receive customer payments
Electronic Billing and Payment (EBP): Provides online customers with the
convenience of single-point bill management, including bill viewing and
payment integrated with their customer's online banking services.
Online Account Opening and Funds Transfers: Helps financial institutions
reach customers beyond traditional brick-and-mortar and geographic footprints
to meet demand for online opening, funding and account-to-account transfers.
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 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 $1.5 trillion in assets. CheckFree Software
develops, markets and supports payment processing solutions that are used by
financial institutions to process more than two-thirds of the 14 billion
Automated Clearing House transactions in the United States, and supports
reconciliation, exception management, risk management, transaction process
management, corporate actions processing, and compliance within thousands of
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,
2006 (filed September 8, 2006) and Form 10-Q for the quarter ended September
30, 2006 (filed November 8, 2006). 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.
SOURCE CheckFree Corporation
CONTACT: Media relations, Judy DeRango Wicks, 1-678-375-1595, or
email@example.com, or Investor relations, Tina Moore, 1-678-375-1278, or
firstname.lastname@example.org, both of CheckFree Corporation
Web site: http://www.checkfreecorp.com