CheckFree Implements 'Y2K-Ready' Code for APL/APL WRAP
Leading Service Bureau Provider of Portfolio Management Systems Completes Y2K Readiness Plan
ATLANTA, March 3 /PRNewswire/ -- CheckFree (Nasdaq: CKFR - news) today announced that its Investment Service division's Year 2000 (Y2K) project team has successfully implemented the necessary code enhancements to make both CheckFree APL and APL WRAP product lines ''Y2K-ready.'' Integral to the code enhancement was the expansion of all database date variables to eight digits. CheckFree APL/APL WRAP is the leading portfolio accounting, performance measurement, trading and reporting system in the industry.
''This marks a tremendous milestone in the 16-month initiative to make our system Year-2000 ready,'' said Frank Polashock, general manager for CheckFree Investment Services. ''Thanks to those associates and clients who helped to make this plan and implementation successful.''
Liz Getter-Johnson, senior vice president of operations for Rorer Asset Management LLC in Philadelphia, provided CheckFree with feedback during the testing phase of the project. ''Testing of the code and related reports went well,'' she said. ''Any inconsistencies that we did find were corrected immediately.''
Other CheckFree Investment Services clients were pleased with the seamless nature of the transition. ''The communication and implementation of the Year-2000 readiness plan were both well-managed from our perspective,'' said Jim Prescott, vice president for Chicago-based The Burridge Group LLC. ''It was made clear to us when the implementation was going to take place.''
Kyra Drillock, manager for CheckFree Investment Services' Year 2000 project, added, ''It is important that clients realize that we are not making any changes to output generated from CheckFree APL or CheckFree APL WRAP. All items, such as reports and downloads, will appear just as they have in the past, even in Y2K-ready applications.''
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 APL and APL WRAP, which includes portfolio management, performance measurement, trading and reporting systems to financial institutions. APL and APL WRAP are currently used by more than 225 institutions, managing 540,000 portfolios.
SOURCE: CheckFree Corporation
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