CheckFree Names Frank Polashock President, CheckFree Investment Services
ATLANTA, July 1 /PRNewswire/ -- CheckFree (Nasdaq: CKFR - news), the leading provider of financial electronic commerce services, software and related products, today announced the promotion of Frank Polashock to president of New Jersey-based CheckFree Investment Services (CFIS). Polashock will report directly to CheckFree President and Chief Operating Officer Pete Sinisgalli.
Polashock joined CheckFree's Investment Services division in May 1997 as executive vice president and general manager. ''Over the past two years, Frank has led CFIS to substantial improvements in quality, productivity and financial performance,'' said Sinisgalli. ''In addition, he and the entire team of CFIS associates have positioned the division for a very exciting and rewarding future.''
Under Polashock's leadership, the CFIS team has increased revenue by 67 percent, while operating income has nearly tripled. The number of portfolios managed on CFIS' APL system has doubled to more than 700,000. The acquisition of the Mobius Group in March has expanded the division's product offerings to include data-based information services and products extending to the rapidly growing financial planner marketplace.
About CheckFree
Founded in 1981, CheckFree (www.checkfree.com ), the operating subsidiary of CheckFree Holdings Corporation, is the leading provider of financial electronic commerce services, software and related products. CheckFree designs, develops and markets services that enable nearly three million consumers to receive and pay bills over the Internet or electronically through a variety of bill aggregation points, including banks, brokerage firms, portals and interactive content sites on the Internet, and personal financial management (PFM) software. CheckFree's range of services and products are focused on enabling customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure Internet transactions.
After more than a year of beta testing, CheckFree launched the nation's first fully integrated electronic billing and payment solution, CheckFree E-Bill, in March of 1997. Today, the Company has multi-year contracts with more than 50 of the nation's top billers to provide online billing and payment through the CheckFree distribution network.
SOURCE: CheckFree Corporation
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