Accurate NXG to Increase Operational Efficiency at Spain's Fourth-Largest Bank
ATLANTA and LONDON, Nov. 21 // -- CheckFree (NASDAQ:CKFR) today announced that Banco Sabadell, Spain's fourth largest banking group, has selected CheckFree's Accurate NXG(TM) reconciliation and exception management solution. Banco Sabadell will use each component of the Accurate NXG solution across its nostro, foreign exchange and billing processes to mitigate transactional risk and tighten its operational controls. This reconciliation and exception management implementation is an example of how Banco Sabadell will leverage CheckFree's Applied Operational Intelligence(SM).
"CheckFree's Applied Operational Intelligence approach, combined with the flexibility of the Accurate NXG solution, will help us consolidate and streamline our reconciliation processes while allowing for business growth," said Mr. Adria Galian, operations director of financial markets at Banco Sabadell. "After evaluating Accurate NXG's entire reconciliation, exception management and workflow solution, we realised its scalability and flexibility could add significant value to our internal operations."
Accurate NXG will be deployed to provide the company with a single, enterprisewide view of reconciliations, increasing efficiency and enabling better management of operational risk across the organisation. The solution will enable Banco Sabadell to manage a wide range of reconciliations, including billing, money transfers, and reconciliation of nostro, foreign exchange and money market transfers. An operational intelligence dashboard will provide senior management with visibility to critical areas of potential loss both at a detailed and aggregate level - through reporting, analysis and solid metrics.
Accurate NXG's integrated exception management and workflow capabilities will enable Banco Sabadell to automatically investigate outstanding items on Banco Sabadell's nostro and foreign exchange accounts. The bank plans to utilise Accurate NXG for securities reconciliations to further improve efficiencies and provide cross-enterprise consistency with minimal IT overhead support costs.
"Accurate NXG is a powerful solution that can support large enterprise organisations that need to reconcile multiple asset types," said Dirk Van de Velde, vice president for continental Europe at CheckFree Software. "Accurate NXG is designed to enable customers, such as Banco Sabadell, to benefit from lower operating costs, more time to prevent potential losses, and greater transparency of financial transactions and their processing overhead."
CheckFree's Applied Operational Intelligence approach helps clients drive profitability and performance through a combination of innovative software, industry expertise and collaborative partnership. This approach is built on CheckFree's core competencies of reconciliation, exception management, transaction process management, corporate actions processing, payments processing, risk management and compliance. The Applied Operational Intelligence approach is expressly designed to manage risk and efficiency, while leveraging valuable 'operational intelligence' to achieve measurable return on investment.
Accurate NXG is deployed across a worldwide customer base, including some of the largest domestic and international banks, custodians, brokers and investment firms. For more information about the Accurate NXG solution, visit www.checkfreesoftware.com.
About Banco Sabadell (www.bancosabadell.com)
Banco Sabadell is listed on the IBEX 35 and leads the fourth Spanish banking group, comprising different companies, subsidiaries and joint- ventures, such as Sabadell Banca Privada, Ibersecurities or Landscape as well as commercial brands such as SabadellAtlantico, Banco Herrero, Solbank and ActivoBank. As part of its strategy of organic growth combined with selected acquisitions, Banco Sabadell has recently acquired Banco Urquijo.
With total assets of over 60.000 million euros and a market capitalization of over 8.200 million euros, Banco Sabadell currently employs about 9,500 staff, focused mainly on attending the financial needs of small and medium- sized businesses as well as high-income individuals through a broad commercial multibrand and multichannel range of products and services that, historically, has always stood out for its capacity to innovate and its intensive use of information technologies.
Today, the commercial network of Banco Sabadell and its Group easily exceeds 1,100 branches allowing the bank to be present all over Spain and in another twenty countries.
About CheckFree (www.checkfreecorp.com)
Founded in 1981, CheckFree Corporation (NASDAQ:CKFR) provides financial electronic commerce services and products to organizations around the world. CheckFree Electronic Commerce solutions enable thousands of financial services providers and billers to offer the convenience of receiving and paying their household bills online, via phone in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to thousands of financial services organizations, which manage about $1.5 trillion in assets. CheckFree Software develops, markets and supports payment processing solutions that are used by financial institutions to process more than two-thirds of the 14 billion Automated Clearing House transactions in the United States, and supports reconciliation, exception management, risk management, transaction process management, corporate actions processing and compliance within thousands of organizations worldwide.
Source: CheckFree Corporation
CONTACT: Media relations, Judy DeRango Wicks, +1-678-375-1595, or email@example.com
Web site: www.checkfreecorp.com/ www.bancosabadell.com/