Loomis Sayles Selects CheckFree eVent for Corporate Actions Processing in North America
ATLANTA and NEW YORK, June 18 /- SIFMA 2007 Technology Management Conference Booth 401A - CheckFree Corporation (NASDAQ:CKFR), today announced that Loomis, Sayles & Company L.P. has selected the CheckFree eVent(TM) solution to deliver automated corporate actions processing, potentially reducing its operational risk and improving the efficiency of processing for Loomis Sayles' asset management clients.
By automating this area of operations via CheckFree eVent, the firm intends to minimize the risk in processing events related to their portfolios, mainly located in North America. The CheckFree eVent solution will replace a largely manual process at Loomis Sayles, an investment management firm based in Boston with approximately $105 billion in assets under management.
With the deployment of CheckFree eVent, which is scheduled to go live later this year, Loomis Sayles will offer its clients post-trade securities processing using two CheckFree solutions that leverage a common architecture. Loomis Sayles is already supported by the CheckFree TradeFlow(TM) solution (TM)that was deployed for settlement instruction processing of cash securities and foreign exchange.
"We selected CheckFree eVent to automate our corporate actions processing for several reasons, including the company's outstanding customer references, in-depth product functionality and proven ability to collaborate and deliver the project within our time frame," said Steve Chittenden, vice president & director of investment operations, Loomis Sayles. "The ability to begin testing announcement messages from our custodian banks only a month after signing our agreement with CheckFree is a clear demonstration of their qualifications to meet our timetable for implementation. Furthermore, CheckFree's proactive and practical approach to deploying evolving market standards in a live operational environment has been excellent, helping us to address these challenging industry issues."
"We are pleased that one of the world's premier investment management firms has decided to select and implement CheckFree eVent to process its corporate actions," said Gary Mercer, vice president, global product development, CheckFree Software. "Our solution is designed to help reduce Loomis Sayles' operational risk associated with processing corporate actions, and help them become more efficient, which is central to CheckFree's Applied Operational Intelligence SM approach to doing business with all of its clients."
CheckFree eVent has achieved the B.I.S.S. Research Gold Accreditation for corporate actions systems for four consecutive years, which demonstrates CheckFree's strong commitment to technology leadership and strength of business functionality in the corporate actions space. The solution, 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.
CheckFree's Applied Operational Intelligence(SM) approach helps clients drive profitability and performance by combining innovative software, proven expertise and business intelligence. This approach is built on CheckFree's core competencies of corporate actions processing, transaction process management, reconciliation, exception management, payments processing, and risk management and compliance.
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 enables 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(TM) and other products visit www.checkfreesoftware.com/.
About Loomis, Sayles & Company (www.loomissayles.com)
Since 1926, Loomis, Sayles & Company, L.P., has served the investment needs of institutional and mutual fund clients. This rich tradition has earned Loomis Sayles the trust and respect of clients worldwide, for whom it manages more than $105 billion in equity and fixed income assets, as of March 31, 2007.
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 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 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, firstname.lastname@example.org
Web site: www.checkfreecorp.com/ www.checkfreesoftware.com/ http://www.loomissayles.com/