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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: metalia who wrote (20108)	7/21/2003 4:08:01 PM
From: StocksMan	Read Replies (1) \| Respond to of 20297

Fifth Third Bank Standardizes Reconciliation Operations Enterprise-wide with CheckFree RECON-Plus Frontier(TM) Monday July 21, 4:03 pm ET CheckFree Delivers Advanced Reconciliation Solution to Leader in Financial Services ATLANTA, July 21 /PRNewswire-FirstCall/ -- CheckFree Financial and Compliance Solutions, a business unit of CheckFree Corporation (Nasdaq: CKFR - News), today announced that Fifth Third Bank (Nasdaq: FITB - News) has selected CheckFree RECON-Plus Frontier(TM), the company's highly scalable, enterprise-wide reconciliation product. The bank will use the software platform to drive operational efficiency across the company's enterprise, enabling straight- through reconciliation workflows and greater control over risk management. Today Fifth Third has $84 billion in assets and operates 17 affiliate banks with 943 full-service banking centers and ATM operations in Ohio, Kentucky, Indiana, Michigan, Illinois, West Virginia, Florida and Tennessee. The bank selected CheckFree RECON-Plus Frontier because of the solution's ability to enhance decision-making processes by delivering real-time access to the latest financial information across all divisions and departments of the institution. According to a recent report from Financial Insights, www.financial-insights.com, "Reconciliation: How Enterprise is Enterprise?", senior analyst, Maggie Scarborough, writes, "In this down economy, the reduction of operating expenses and the desire to increase operational efficiency is at the top of the to-do list at most institutions worldwide. Disconnected processes brought on by a flurry of past mergers and acquisitions and irrational infrastructure growth have made reconciliation a prime renovation target." She continues, "Banks have already begun to take advantage of several next-generation reconciliation platforms that can support high volumes, organizational complexity, and business process management and improvement." "Due to our growth by mergers and acquisitions, we are continually addressing tremendous transaction volume increases. At the same time, we are managing the challenges of a complex and diverse set of technologies and disparate business processes," said Greg Carmichael, chief information officer at Fifth Third Bancorp. "We are investing in CheckFree's RECON-Plus Frontier enterprise software to better manage transaction volumes, eliminate redundant systems, and achieve maintenance efficiencies across its multi-tier architecture. The operational efficiencies we expect will result in real improvements in how we serve our customers and manage multiple operations. . ." biz.yahoo.com