CheckFree Reaches 600,000 Portfolios on APL/APL WRAP;
Industry Milestone for Leading Service Bureau Provider Of Portfolio Management Systems
ATLANTA, March 16 /PRNewswire/ -- Citing continuing growth across both CheckFree APL and CheckFree APL WRAP product lines, CheckFree (Nasdaq: CKFR - news) today announced that its client base had reached 600,000 portfolios on the portfolio management system. CheckFree APL/APL WRAP is the leading portfolio accounting, performance measurement, trading and reporting system in the industry today and represents more than $400 billion in assets.
''Reaching 600,000 portfolios on APL/APL WRAP is an important milestone for our business,'' said Frank Polashock, general manager for CheckFree Investment Services. ''It represents continued double-digit growth in terms of the number of portfolios being added to our system. We have accomplished this by the addition of new clients, and through the sustained growth of our existing client base.
''It is important that we use this milestone and the recent acquisition of The Mobius Group as an opportunity to both re-enforce and expand on the level of service that we provide to our customers,'' Polashock added.
James K. Waller, senior vice president for CheckFree Investment Services, said, ''The scalability of our system has allowed us to achieve substantial growth across both the APL and APL WRAP product lines. We see this milestone as not only a reinforcement of the service we provide our clients, but also as a testimony to our ability to help our clients grow their business. That's really what we are all about.''
About CheckFree
Founded in 1981, CheckFree (www.checkfree.com), the operating subsidiary of CheckFree Holdings Corp., is the leading provider of electronic commerce services, software and related products for 2.6 million consumers, 1,000 businesses and 850 financial institutions. CheckFree designs, develops and markets services that enable its customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure transactions on the Internet.
CheckFree Investment Services is the industry's leading service bureau provider of portfolio management and accounting systems. CheckFree Investment Services currently offers CheckFree APL and CheckFree APL WRAP, which includes portfolio accounting, performance measurement, trading and reporting systems to financial institutions. APL and APL WRAP are currently used by more than 225 institutions managing 600,000 portfolios.
SOURCE: CheckFree Corporation
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