P&H and CheckFree Financial & Compliance Solutions Combine Forces to Provide High-end Hosted Reconciliation Service.Business Editors NEWTON, Mass.--(BUSINESS WIRE)--Nov. 3, 2003 P&H, the market leader for web-based corporate banking systems, and CheckFree Financial and Compliance Solutions (CFACS CFACS CheckFree Financial and Compliance Solutions ), the leading provider of reconciliation and compliance software and services and a business unit within CheckFree Corporation (Nasdaq; CKFR CKFR Checkfree Corporation (stock abbreviation, AMEX) ), have teamed to provide a high-end reconciliation system in P&H's Outsource Solution Center. With the new relationship, CFACS will license its new, state-of-the-art CheckFree RECON-Plus Frontier(TM) solution for use with P&H's industry-leading Web Cash Manager Suite. Hudson United Bank, with $7.5 billion in assets and 205 branches throughout New Jersey, Connecticut, lower New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State and southeastern Pennsylvania, is the first financial institution to choose the joint solution. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Terry Monteith mon·teith n. A large punch bowl having a notched rim on which cups can be hung. [Possibly after Monteith (Monteigh), an eccentric 17th-century Scotsman who wore a cloak scalloped at the hem.] , Vice President of Product Development at P&H, the combined system addresses financial institutions' two key reconciliation service requirements. "Financial institutions need a web-based front-end for receiving information from customers, such as check issue information and positive pay decisions, and a backend host system that can process check information. The combination of Web Cash Manager's J2EE-based Positive Pay and CheckFree RECON-Plus Frontier in a hosted environment represents the latest in web-based corporate cash management and back-office reconciliation. Together, the systems deliver a powerful, cost-effective package that can meet a wide range business banking needs." The CheckFree RECON-Plus Frontier system will be installed in P&H's Outsource Solution Center, which is managed in a partnership with NCR Corporation (company) NCR Corporation - Electronics company mainly active in the midrange server market. NCR was founded 1884 as National Cash Register Company. It joint the computer industry in th 1950s. . The Outsource Solution Center currently services over 60 financial institutions, which in turn offer a variety of Web Cash Manager services to their corporate banking customers, including positive pay, issue maintenance, reconciliation, ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to origination, wire payments, and reporting services. "With this partnership, CheckFree can leverage the skills and experience of P&H to extend the reach of our reconciliation solutions into new markets," said Steve Engdahl, director of product management, CheckFree Financial and Compliance Solutions. "The P&H Outsource environment provides an ideal framework for small to medium financial institutions that are interested in offering partial reconciliation, full reconciliation, positive pay, deposit reporting, and deposit reconciliation products without building their own systems infrastructure." About Politzer & Haney and Web Cash Manager With over 100 financial institutions in production and 20 years of industry experience, P&H is the market leader in web-based corporate cash management. P&H is customer-and banking-focused, with a strong commitment to helping financial institutions meet their strategic cash management objectives. Industry analyst Celent Communications has ranked Politzer & Haney as the number one cash management vendor for three years in a row. Politzer & Haney leads the industry with an installed base of over 100 customers currently in production -ranging from the largest financial institutions, such as AmSouth, Bank One, Citibank, J.P. Morgan Chase, Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. , to major corporate credit unions and smaller regional financial institutions. P&H is headquartered in Newton, Massachusetts The City of Newton in Middlesex County, Massachusetts, is an important residential suburb of Boston, which abuts it on the east. According to the 2000 census, the population of the Newton was 83,829, making it the tenth largest city in the state. , with offices in nine other states. Additional information can be found at www.ph.com, or by calling 617-796-7700. About CheckFree (www.checkfreecorp.com) CheckFree (NASDAQ: CKFR) is the leading provider of financial electronic commerce services and products. Founded in 1981 and celebrating its 23rd year in e-commerce, CheckFree is comprised of three divisions: Electronic Commerce, Software, and Investment Services. CheckFree launched the first fully integrated electronic billing Electronic billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers. Electronic billing is also referred to as the following:
Please [ improve this article] or discuss the issue on the talk page. organizations, including banks, brokerage firms, Internet portals and personal financial management (PFM) software. At these sites, consumers are able to electronically receive and pay about 300 bills, representing the bills most common to a U.S. household. CheckFree delivers nearly 15 million e-bills each quarter. CheckFree Investment Services provides a broad range of investment management services to thousands of financial institutions nationwide. The division's clients manage more than 1.3 million portfolios totaling more than $700 billion in assets. CheckFree's Software division provides solutions through three operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon : CheckFree ACH Solutions, CheckFree Financial and Compliance Solutions (CFACS), and CheckFree i-Solutions. CheckFree ACH Solutions provides software and services that are used to process more than two-thirds of the nation's nine billion Automated Clearing House See ACH. payments, while CFACS provides reconciliation and compliance software and services to more than 500 organizations in the banking, brokerage, utility, retail, insurance and credit card industries, among others. CheckFree i-Solutions is the leading provider of e-billing and e-statement software and services for both business-to-consumer and business-to-business applications, with more billers as clients than all of its competitors have combined. P&H, and P&H Web Cash Manager Suite are trademarks of Politzer & Haney, Inc. RECON-Plus Frontier is a product of CheckFree Corporation. |
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