CheckFree (NASDAQ:CKFR) today announced that Ladbrokes plc, the world's leading bookmaker, has selected its Accurate NXG solution suite to monitor transactional risk and optimise the resolution and reporting of exceptions for both its retail and online sales channels.
Ladbrokes will deploy CheckFree's Accurate NXG to provide reconciliation, exception management and management information reporting across all banking transactions arising from the portfolio of Ladbrokes' products. Business users at Ladbrokes will also be equipped with the product's business intelligence Dashboard technology, which enables the monitoring of trends and cash flow relating to multi-currency deposits and withdrawals - resulting in improved operational control.
Ladbrokes employs 14,000 people and takes over a million bets a day in its shops. It has over two million registered online customers in more than 200 countries who are offered betting and gaming in 18 currencies and 12 languages around the clock.
The growth of Ladbrokes' retail and online sales channels has led to a marked increase in the number of complex, multi-currency transactions. With this growth comes a greater emphasis on tightening operational control and reducing transactional risk.
"With our rapid expansion in multiple international markets in recent years, we wanted to improve the efficiency of our reconciliation and exception management processes. CheckFree's Accurate NXG was the best solution," said John O'Reilly, Ladbrokes' Managing Director eGaming and Telephone Betting.
"Many corporations are experiencing increasing operational complexity in an environment of closer regulatory scrutiny," said Robert Hanbury, director of product management of CheckFree Software. "As a result, these companies are investing in technology to realise operational efficiencies and manage risk. CheckFree's proven expertise in delivering reconciliation, exception management, workflow, and business intelligence solutions, is enabling our customers across a range of industries to successfully meet these challenges."
Peter Jameson, business development manager, Gaming and Leisure, at CheckFree, said, "Ladbrokes' selection of Accurate NXG demonstrates our ability to support the reconciliation and exception management requirements of a fast moving and complex gaming organisation. Ladbrokes joins several other leading gaming operators, such as Betfair, BetFred, PartyGaming and PinnacleSports.com, in reaping the benefits of an automated solution that is both scalable and flexible enough to expand with their business. Ladbrokes is one of the best known fixed odds betting and gaming companies in the world, and we look forward to supporting its growing online and retail business."