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

To: StocksMan who wrote (20184)	1/14/2004 11:49:29 AM
From: StocksMan	Read Replies (1) \| Respond to of 20297

CheckFree and Unisys Announce Certification of ARC Check Conversion Solution Wednesday January 14, 9:00 am ET -- Alliance Will Combine Unisys' Remittance Processing Solution with CheckFree's PEP+ reACH to Create a Comprehensive, End-to-End Accounts Receivable Conversion Solution -- ATLANTA, Jan. 14 /PRNewswire-FirstCall/ -- CheckFree Corporation (Nasdaq: CKFR - News) and Unisys Corporation (NYSE: UIS - News) today announced an agreement to certify CheckFree's PEP+ reACH solution for users of Unisys Remittance Processing Solution (RPS) desiring to implement an ARC Check Conversion. By implementing an Accounts Receivable check conversion solution built upon CheckFree's PEP+ reACH, customers of Unisys RPS system will have a comprehensive check conversion solution. The basis for this solution is built on the concept that certain processes are remittance processing in nature while recognizing that once checks are converted, the payments are processed as Automated Clearing House (ACH) items and are best managed within ACH processes and systems. "Undoubtedly, our customers are looking to employ payment processes that generate greater efficiencies and funds availability. ARC check conversion represents a major shift for all remittance processing operations," stated Michael Esposito, Unisys Practice Director for the Remittance Processing Solution. "Unisys RPS is an image-based high-volume solution designed to automate exception processing. The manual processing of these exceptions constitutes up to 80% of the transaction cost for our customers. It was important for Unisys to deliver to our customers a solution that minimizes their risks by simplifying the implementation and ongoing support of our ARC strategy." PEP+ reACH, CheckFree's solution for ARC check conversion, integrates with the existing remittance processes without requiring major changes to the operations flow and systems. As items are processed, PEP+ reACH interacts with remittance systems to determine whether a specific item can be converted. Once the remittance items have been captured and processed, a file of convertible items as designated during the RPS run is forwarded to the bank sponsoring the conversion of these checks. PEP+ reACH then takes the data from the check, parses the MICR data, repairs any routing data necessary for ACH and converts the item to ACH. From that point, existing ACH processes are followed for origination, settlement and exception handling of the converted checks. "With PEP+ reACH, our customers should not see a need to make wholesale changes to existing remittance processes in order to accommodate check conversion," continued Esposito. "More importantly, administrative returns should not cause the addition of staff or systems to manage the conversion of items. PEP+ reACH allows our customers' financial institutions to manage those processes that are inherently ACH related and more suited for bank resolution." "This agreement with Unisys will provide high-volume remittance processors with a clear migration path to new payment methodologies," adds Denny Oswalt, senior vice president and general manager of CheckFree's ACH Business Unit. "At the core of PEP+ reACH is over 28 years of ACH processing expertise. Furthermore, CheckFree has been in the business of creating consumer debits from check data for well over 20 years. This know-how is encapsulated in our FIF database which will be integrated with PEP+ reACH to insure the highest attainable quality for check conversion available in the marketplace, as measured by low administrative return rates and maximum conversion of eligible items." About Unisys ( unisys.com ) Unisys is a worldwide information technology services and solutions company. Our people combine expertise in systems integration, outsourcing, infrastructure, server technology and consulting with precision thinking and relentless execution to help clients, in more than 100 countries, quickly and efficiently achieve competitive advantage. For more information, visit www.unisys.com . . . biz.yahoo.com