National City Selects CheckFree's ARP/SMS
Wednesday March 31, 9:00 am ET
--Gain the Power to Increase Reconciliation and Positive Pay Offerings and Streamline Operations--
ATLANTA, March 31 /PRNewswire-FirstCall/ -- CheckFree Financial and Compliance Solutions, a business unit of CheckFree Corporation (Nasdaq: CKFR - News), today announced that National City Corporation (NYSE: NCC - News) has selected CheckFree ARP/SMS(TM) (Account Reconciliation Package/Service Management System), a fully integrated, online, real-time check and deposit reconciliation system that will enhance National City's existing Account Reconcilement and Positive Pay products for its corporate clients.
Using CheckFree ARP/SMS, National City can provide partial, full, and deposit reconciliation services to its corporate clients, as well as enhancements to other value-added services such as Positive Pay and Teller Positive Pay. Many back-office activities are automated with ARP/SMS, thereby reducing the time associated with supporting reconciliation and Positive Pay. Positive Pay is an effective tool used by many financial institutions today to combat check fraud. By using Positive Pay, banks can validate each check they are presented against their client's file of issued checks to look for duplicate serial numbers, voided checks, stolen checks, and checks with altered amounts or payee lines.
"We selected ARP/SMS so we could process our reconciliation product in a real-time mode rather than a batch mode," said John Sciano, vice president and senior product manager for National City. "Our associates can now submit real-time inquiries and immediately receive information on all maintenance, adjustments, additions, balancing and control requests. This allows us to deliver a more comprehensive and complete reconciliation and Positive Pay service to our clients."
"Combating check fraud has become a critical component of doing business in today's culture. To reduce financial losses, banks must control fraud which requires efficient, automated positive pay systems," said Mark Zill, senior vice president and general manager, CheckFree Financial and Compliance Solutions. "CheckFree ARP/SMS allows National City to add security to its front line operations to the benefit of its valued corporate customers. . ."
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