(PR NEWSWIRE) Thomas Stampiglia Joins CheckFree as President, CheckFree So
Thomas Stampiglia Joins CheckFree as President, CheckFree Software Division;
CheckFree Hires Lanier Worldwide Veteran to Run Software Division
ATLANTA, Jan. 4 /PRNewswire/ -- CheckFree Corporation (Nasdaq: CKFR), a
leading financial electronic commerce company, today announced that Thomas
Stampiglia, 44, has joined CheckFree as President, CheckFree Software
Division. He reports directly to Pete Sinisgalli, CheckFree's president and
chief operating officer.
Stampiglia will take over the responsibilities of Software Division
president from Sean Feeney, a three-year CheckFree executive who, for the past
year, has been serving dual roles as president of the Software Division and
executive vice president, biller field operations, for CheckFree's largest
division, Electronic Commerce. After transitioning his Software Division
responsibilities to Stampiglia, Feeney will retain his executive vice
president title and focus full-time on increasing CheckFree's lead in the
electronic billing and payment market.
Stampiglia spent 20 years with Lanier Worldwide, a $1.5 billion division
of Harris Corporation. Most recently, he was vice president, international
sales, and was responsible for all aspects of the $560 million international
operations of Lanier, which included managing more than 3,000 associates and
integrating a major acquisition. Prior to this role, Tom was vice president,
general manager, for Lanier Healthcare. Lanier Healthcare designs, develops,
implements and supports software solutions for the healthcare information
systems market. With more than 600 associates under Stampiglia's leadership,
this group grew revenue from $140 million to $190 million in two years, and
successfully integrated strategic acquisitions.
"Tom's extensive experience leading world class software and sales
operations will be a tremendous asset to our Software Division," said
Sinisgalli. "Under Sean's leadership, the division has continued to meet or
exceed our operational objectives. Tom's direction will continue that
progress, while Sean will focus exclusively on his strategic role in helping
our Electronic Commerce division build our leadership in electronic billing
and payment."
Stampiglia has a bachelor of arts from Georgetown University. He and his
wife Alice have one child and live in the Atlanta area.
About CheckFree's Software Division
For CheckFree's fiscal year ended June 30, 1999, the Software Division
generated revenue of $39.6 million, about 16 percent of CheckFree's
consolidated revenue. The division has two primary lines of business:
Automated Clearinghouse (ACH) solutions and Financial and Compliance
solutions. ACH is the primary method financial institutions use to move funds
electronically through the Federal Reserve banking system. More than two-
thirds of the nation's six billion Automated Clearinghouses (ACH) payments are
processed each year through CheckFree's ACH software and services. CheckFree
also has a strong ACH presence in Australia, Chile, Panama, Guatemala,
Colombia and Malaysia.
Nearly 400 banks and businesses use CheckFree's reconciliation products
and services, marketed under the brands CheckFree RECON-Plus(TM) for
Windows(R) and CheckFree RECON Securities(TM). Both solutions help businesses
and brokerage firms reconcile the enormous volumes of complex transactions
that are spread across internal systems, financial accounts and global
markets.
CheckFree is a leading supplier of compliance solutions, including
CheckFree APECS(TM), a mainframe-based automated system for abandoned property
reporting, and CheckFree APECS(TM) Client/Server, which builds on the APECS
mainframe system to bring organizations automated and streamlined abandoned
property reporting, as well as full compliance with new and changing
regulations. In November of 1999, the division teamed with the National
Association of Unclaimed Property Administrators (NAUPA) to launch the first
state-sponsored Web search engine and database to benefit the public by
searching for unclaimed property records nationwide, at no cost. Launched
under the name "MissingMoney.com," the site is targeted for availability
nationwide, and is currently operational in 10 states.
CheckFree Solutions Series(TM) integrates with CheckFree's existing
reconciliation and compliance products to provide workflow automation and
information retrieval and storage. CheckFree RECON SOLVER(TM) streamlines the
reconciliation process through technology that identifies, manages and
resolves financial exceptions. CheckFree STORER(TM) lets organizations
archive large volumes of reports to electronic media for later retrieval,
query or review, according to legal archive standards. CheckFree's FUND
Xpedite(TM) is a client/server reconciliation system for multi-site federal
government departments and agencies.
About CheckFree
CheckFree Corporation (www.checkfree.com ) is a leading provider of
financial electronic commerce services and products. Founded as an electronic
payments processor in 1981, CheckFree launched the first fully integrated
electronic billing and payment solution, CheckFree E-Bill, in March of 1997.
Today, CheckFree services enable three million consumers to receive and pay
bills over the Internet or electronically. The Company has multi-year
contracts with 77 of the nation's top billers to provide online billing and
payment through its network of partnerships with consumer service providers
(CSPs), including banks, brokerage firms, Internet portals and content sites,
and personal financial management (PFM) software. CheckFree's Investment
Services division provides a range of investment management services to help
more than 255 institutions provide portfolio management and reporting services
to their clients. CheckFree clients manage over 760,000 portfolios totaling
more than $400 billion in assets. Software and services provided by
CheckFree's Compliance and Financial Service division are used to process more
than two-thirds of the nation's six billion Automated Clearing House (ACH)
payments. In addition, nearly 400 banks and businesses use reconciliation
products and services the division provides.
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 Form 10-K for the year ended June 30, 1999. 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 document 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
-0- 01/04/2000
/CONTACT: media, Judy Morris, 678-375-1595, jdmorris@checkfree.com, or
investors, Tina Moore, 678-375-1278, tmoore@checkfree.com, both of CheckFree
Corporation/
/Web site: checkfree.com /
(CKFR)
CO: CheckFree Corporation
ST: Georgia
IN: MLM FIN CPR
SU: PER
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