CheckFree Financial and Compliance Solutions (CFACS) has announced plans to expand its presence in London in support of its new flagship enterprise reconciliations solution Recon-Plus Frontier.
In making the move across the Atlantic, CFACS will be joining sister business unit, CheckFree i-Solutions, the e-billing arm of the company that has been operating in Europe since 1999. The firm has given no indication of local staffing or recruitment requirements.
Mark Zill, senior vice-president and general manager of CFACS, says the company is already experienced in dealing with European regulatory and business issues through its work for international organisation like Merrill Lynch and Asda. "Given the speed of change within the financial services community, and the current emphasis on operational efficiency, we feel that our new Frontier enterprise platform gives us a competitive edge in meeting new industry requirements."
The Recon-Plus Frontier application is designed to extend reconciliations and exception processing out of the back office and across the enterprise. CheckFree says the application is increasingly being used by national institutions looking to integrate the multi-site enterprise within a single reconciliation infrastructure. CFACS' international expansion now enables it to offer the solution directly into Emea and Asia Pacific.
The CFACS reconciliation suite also complements CheckFree i-Solutions' electronic billing and invoicing software, which is already installed at some of the largest global financial service providers, Post Offices and billers.
Sean Feeney, executive vice president and general manager of CheckFree's Software Division, says: "We see an increasing synergy among back-office systems and customer-facing electronic billing and payment interfaces...from the integration of reconciliation applications into legacy data systems to the design of custom bills and Web interfaces for electronic billing and payment."
To demonstrate the synergies, CFACS and CheckFree i-Solutions will be exhibiting side-by-side at the Sibos international banking show in Singapore in October