Loomis Sayles Realizes Benefits with CheckFree eVent for Corporate Actions Processing in North America
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ATLANTA and BOSTON, Oct. 2 - CheckFree Corporation (Nasdaq: CKFR) today announced that Loomis, Sayles & Company, L.P., an investment management firm headquartered in Boston with $115 billion in assets under management, has completed a significant milestone using CheckFree eVent(TM) in the first phase of a strategic project to deliver an automated end-to-end corporate actions processing solution. This milestone was reached in four months and has enabled Loomis Sayles to automate its announcement capture process with five major custodians, representing significant volume and a building block for further coverage across its entire range of custodians.
With the ability to electronically receive and validate corporate action announcements via SWIFT and automatically populate its corporate actions diary with key event data, Loomis Sayles expects to minimize the operational risk associated with being notified of these events.
"CheckFree's proven in-depth understanding of the corporate actions marketplace has enabled us to progress rapidly in implementing this comprehensive solution that will significantly minimize the potential risk of operational losses. CheckFree met all of the project's original expectations, demonstrating wide-ranging product functionality, and the ability to collaborate and deliver the project on time, which was made possible due to a comprehensive support structure. Consequently, this milestone in phase one was completed on budget in only four months," said Steve Chittenden, vice president and director of investment operations, Loomis Sayles. "Loomis Sayles began testing announcement messages from our custodian banks only a month after signing our agreement with CheckFree and have already begun the second implementation phase."
Loomis Sayles' second implementation phase is designed to incorporate position capture and reconciliation. Phase three is intended to deploy CheckFree eVent to automate voluntary corporate actions with decision processing and additionally entitlement capabilities.
"CheckFree consultants have worked in close cooperation with Loomis Sayles to implement the first phase of CheckFree eVent in its strategic approach to corporate actions automation," said Gary Mercer, managing director, CheckFree. "We have been able to secure the smooth and rapid implementation of the announcement capture module and we are already helping Loomis Sayles to potentially optimize the benefits from automating corporate actions processing."
CheckFree eVent has achieved the B.I.S.S. Research Gold Accreditation for corporate actions systems for five consecutive years, which demonstrates CheckFree's strong commitment to technology leadership and business functionality strength in the corporate actions space. CheckFree eVent, which has strong financial messaging capabilities, a fundamental component of delivering a corporate actions solution, has also achieved the SWIFTReady Gold accreditation for nine consecutive years.
About CheckFree eVent
CheckFree eVent is a modular, workflow-driven solution that allows custodians, broker/dealers, investment houses, fund managers and third-party administrators to minimize corporate actions risk. The solution can enable companies to also contain costs and improve customer service by providing better information, avoid losses and increase efficiency and scalability. For more information about CheckFree eVent and other products visit www.checkfree.com.
About Loomis Sayles
Since 1926, Loomis, Sayles & Company, L.P. has been focused on a single goal: to be the best possible investor. Loomis Sayles has earned the trust and loyalty of institutional and mutual fund investors around the world, and today manages more than $115 billion in equity, fixed income and alternative strategies.
Loomis Sayles is an indirect, wholly-owned subsidiary of Natixis Asset Management Group, L.P. ("Natixis US") (formerly IXIS Asset Management US Group, L.P.), which is part of Natixis Global Asset Management (formerly IXIS Asset Management Group), an international asset management group based in Paris, France and is one of the world's 15 largest asset managers* with $835 Billion in assets under management as of 6/30/07.
* Pensions & Investments/Watson Wyatt, September 2006
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 financial services providers to offer the convenience of online banking, and along with billers, to offer the convenience of receiving and paying household bills online, via phone or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to hundreds of financial services organizations, which manage about $1.8 trillion in assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two- thirds of the nearly 14 billion Automated Clearing House transactions in the United States. The division also provides financial institutions and other organizations with payment processing and consulting, reconciliation and exception management, fraud and risk management, cash and logistics management, and compliance software and services.
SOURCE CheckFree Corporation
CONTACT:
Media,
Judy DeRango Wicks,
+1-678-375-1595,
jdwicks@checkfree.com,
of CheckFree Corporation
Web site: www.checkfreecorp.com
http://www.checkfree.com
