CheckFree Wins Technology Award from The Banker for BNP Paribas Securities Services' Global STP Platform

CheckFree Corporation (Nasdaq: CKFR) today announced that it has received a 2006 Technology Award from The Banker, part of The Financial Times Group based in London.

CheckFree was recognised with the Wholesale/Investment Banking Back-Office Award for its implementation of CheckFree TradeFlow™, a transaction process management platform at BNP Paribas Securities Services, the Paris-based provider of securities services and investment operations.

“BNP Paribas initially selected CheckFree TradeFlow because it uniquely met our new and expanding business requirements,” said Richard Turner, head of global transaction services for BNP Paribas’ Fund Services. “CheckFree TradeFlow has delivered improved control and increased efficiency and allows us to customise our services for a broad range of client environments, regardless of instrument type or geographic location. It has enabled us to build a single, generic STP hub that can provide clients with optimal service quality and the best transaction management platform on the market. BNP Paribas and our technology partner, CheckFree, worked closely together on this project to deliver positive, demonstrable results. We are honoured that The Banker, a prestigious industry publication, has recognized these outstanding results.”

BNP Paribas now handles all of its clients’ Foreign Exchange, Money Markets and securities trades from initial instruction to settlement via CheckFree TradeFlow. The global STP hub is used for all SWIFT messaging requirements and interfaces to Omgeo services. These capabilities facilitate connectivity to the firm’s worldwide brokers, custodians and other clients and counterparties. It also integrates seamlessly with the firm’s internal accounting applications. As such, the global STP hub not only provides a standardised, streamlined environment for the back and middle-office but also extends the enterprise externally to all service touch points.

Preston Hoffman, senior vice president and general manager, CheckFree Software, said, “This award with our valued client BNP Paribas validates CheckFree’s commitment to technology excellence in the financial services industry. The ultimate endorsement has been from BNP Paribas’ clients who have testified to the immediate benefits of the service they have received, which include increased STP, lower fail rates, and cost reduction through the outsourcing of the post-trade lifecycle to BNP Paribas rather than handling in-house.”

CheckFree client Siam Commercial Bank (SCB) of Thailand also received a “Highly Commended” award for its new e-invoicing and payment service, based on the CheckFree i-Series™ software platform.

Established in 1926, The Banker, part of The Financial Times Group, is the premier magazine and acknowledged journal of record for the world’s investment, retail and commercial banking sectors, with an ABC-certified circulation of over 26,000. A panel of respected judges from financial services organisations selected this year’s winners of The Banker awards based on objective, results-oriented criteria. With more than 270 entries received this year, the award winners represented the best implementations in the world of finance.