CheckFree receives SwiftReady gold corporate actions label
18 May 2007 | 2078 views | 0
Source: CheckFree Corporation
CheckFree Corporation (Nasdaq: CKFR) today announced that CheckFree eVent, the company's solution for corporate actions processing, has received the 2007 SWIFTReady Gold Corporate Actions accreditation.
This is the fourth consecutive year that CheckFree eVent has been awarded the SWIFTReady Gold accreditation.
CheckFree eVent is a modular, workflow-driven solution that enables custodians, broker/dealers, investment firms, fund managers and third-party administrators to minimize corporate actions processing risk. CheckFree eVent is an ISO 15022 compliant solution featuring comprehensive data capture from multiple vendor sources, custodians, prime brokers and agent banks, rules- based scrubbing tools, a robust workflow management module and complete entitlement processing. Using client-defined queues and user views, tasks and exceptions are automatically routed to the appropriate designated parties for the required action.
CheckFree eVent also offers the functionality to manage client event notifications and election responses through both its ISO module and web-based component. Using these tools, instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing. All external communications can be implemented and streamlined using the SWIFT ISO 15022 message suite for corporate actions to ensure high straight-through processing (STP) rates are achieved.
Herve Valentin, Partner Solutions Manager at SWIFT, said, "We are pleased to award CheckFree with the 2007 SWIFTReady Gold Corporate Actions Label for the fourth successive year to their flagship software solution, CheckFree eVent. This achievement demonstrates CheckFree's ongoing contribution to the industry of developing solutions that conform to SWIFT standards as well as the best practices set by the Securities Market Practice Group (SMPG), improving corporate actions processing efficiency for the benefit of financial institutions worldwide."
"We are honored that SWIFT has granted CheckFree with the 2007 SWIFTReady Gold corporate actions certification," said Gary Mercer, vice president, global product development for CheckFree Software. CheckFree remains at the forefront of delivering reliable and proven solutions to meet the ever- changing demands of financial institutions around the globe. In addition to our ongoing efforts to enhance the technology behind the CheckFree eVent software, our support of SWIFT ISO message formats and functionality allows our clients to attain the highest levels of straight-through processing. This accreditation validates our strong commitment to mitigating the risks and costs associated with corporate actions processing."
CheckFree also successfully participated in the SWIFTNet Testing and Certification Service Proof of Concept (POC) project for ISO 15022 corporate actions messages. The project tested the validity of ISO 15022 corporate actions notification messages, submitted by CheckFree eVent against the recently published guidelines by the Securities Market Practice Group (SMPG).
The 2007 SWIFTReady Gold Corporate Actions Label for CheckFree eVent is evidence of the company's unique Applied Operational Intelligence SM approach to driving profitability and performance for its clients. The Applied Operational Intelligence approach channels valuable business intelligence back to the business through CheckFree's innovative solutions, industry expertise, collaborative working relationship approach, and core competencies of reconciliation, exception management, transaction process management, corporate actions processing, payments processing, risk management and compliance.
CheckFree's financial messaging technology, CheckFree Message Broker, part of the CheckFree eVent solution, utilizes core integration and rules processing designed to allow organisations to connect multiple systems seamlessly. This gives clients the ability to handle many different interfacing requirements and CheckFree Message Broker is recognised as a proven top class technology in many different financial services firms.