Countrywide Securities Corporation Selects CheckFree RECON Trade to Automate Reconciliation Organization-Wide
ATLANTA, March 15 /PRNewswire/ -- CheckFree (Nasdaq: CKFR - news) today announced that Countrywide Securities Corporation, a registered broker dealer of the National Association of Securities Dealers (NASD), recently selected CheckFree RECON Trade(TM) to meet its growing need for automated reconciliation of deposits throughout the company.
Building on the technology and proven success of the CheckFree RECON-Plus(TM) for Windows® reconciliation system, RECON Trade can accept data from internal systems and depositories/custodians, then accumulate, reconcile and report account information enterprise-wide, providing timely identification of outstanding trades and potential monetary exposure. RECON Trade supports multi-company environments and delivers multi-currency functionality.
''Given our recent growth, we needed to find a comprehensive, end-to-end solution that would help us maintain a history of activities, reduce time and increase efficiency,'' said Steve Hively, senior vice president and chief financial officer of Countrywide Securities Corporation. ''RECON Trade meets our current needs for general accounting automation, while allowing us the flexibility to expand use of the system to other divisions that will benefit from the technology.''
Mike Meriton, president of CheckFree Corporate Commerce Solutions, added, ''Countrywide joins other market leaders in selecting RECON Trade as its securities account reconciliation system of choice corporation-wide. The strength of RECON Trade is its ability to provide automated, integrated reconciliation across many internal systems.''
About Countrywide
Countrywide Securities Corporation is a subsidiary of Countrywide Capital Markets. Headquartered in Calabasas, Calif., Countrywide Capital Markets is a wholly owned subsidiary of Countrywide Credit Industries, Inc., (NYSE: CCR - news) the parent corporation of the nation's largest independent mortgage lender, Countrywide Home Loans, Inc.
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 more than 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.
SOURCE: CheckFree Corporation
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