CheckFree's eVent receives SwiftReady corporate actions label

Source: CheckFree Software

CheckFree Software, a division of CheckFree Corporation (Nasdaq: CKFR), today announced it has been awarded the SWIFTReady corporate actions label for CheckFree eVent, the company's best-in-class automated workflow solution for corporate actions.

The achievement of this designation further reflects CheckFree's commitment to technology leadership in the corporate actions space. SWIFT is an industry owned co-operative supplying secure, standardised messaging services and interface software to over 7,800 financial institutions in more than 200 countries.

CheckFree's transaction process management solution, CheckFree TradeFlow, and its operational risk management solution, Accurate NXG, achieved SWIFTReady Gold 2005 accreditation for Financial EAI and cash and securities reconciliation respectively, earlier this year, for the sixth straight year in both categories. SWIFTReady Gold is the highest level of compliance awarded by SWIFT. Each technology solution is judged on its ability to provide automation in a SWIFT environment.

CheckFree's complete securities processing platform, which combines CheckFree TradeFlow, CheckFree eVent and the company's reconciliation solutions, is based on SWIFTReady Gold-accredited technologies.

CheckFree Software enables securities firms to process trades received from any trade order and portfolio management system through the entire post-trade process to settlement of the transactions. The reconciliation of securities settled and positions held, together with the management of pre- and post-settlement exceptions, and processing of corporate actions are also fully supported.

CheckFree eVent enables customers to quickly achieve automated corporate action processing, with workflows and exception management pre-configured to meet business best-practice scenarios. The platform can be easily configured and supports industry standards as well as proprietary data formats. Built on CheckFree's financial messaging technology, eVent leverages an integrated architecture to provide truly global straight-through processing capabilities.

Joel Ludvigsen, director, Partner Solutions at SWIFT said, "We appreciate the enthusiasm, willingness and ability shown by CheckFree to quickly deliver SWIFTReady advanced technology to our clients, enabling them to gain value from the evolution of the ISO 15022 standard in the corporate actions space."

"The stringent SWIFT testing process validates CheckFree TradeFlow and Accurate NXG's flexibility and support for SWIFT standards," said Randy McCoy, executive vice president and general manager of CheckFree Software. "The SWIFT accreditations are important because they reinforce the strength of our technology and its adaptability to meet ongoing changes in the marketplace. Furthermore, with SWIFTReady Gold accreditation for financial messaging and cash and securities reconciliation, our customers can be confident that they have selected best-in-class technology that supports a growing number of industry standards."

"Today, CheckFree's corporate action, transaction process management and operational risk management solutions are delivering comprehensive transaction management capabilities to the global SWIFT community," added Olivier Roucloux, industry analyst, Partner Solutions, SWIFT. "CheckFree's SWIFT accredited product portfolio confirms the company's status as a financial software market leader."

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