Frost Bank Selects CheckFree PEP+ Fraud and Risk Protection Package To Improve Regulatory Control and Mitigate Potential Risk in its ACH Processes

Atlanta and Las Vegas - 17 October 2006

Association for Financial Professionals Conference, Booth #623 - CheckFree Corporation (Nasdaq: CKFR) today announced that Frost Bank has selected the CheckFree PEP+(r) Fraud and Risk Protection Package. The four solutions that comprise the solution suite are designed to enable Frost Bank, a division of Cullen/Frost Bankers Inc. (NYSE: CFR), to improve regulatory compliance and mitigate risk across the firm's Automated Clearing House (ACH) processes. Frost Bank has worked closely with CheckFree since 1985 to achieve ACH processing excellence.

"The CheckFree PEP+ Fraud and Risk Protection Package should enable us to provide real business value to our customers by minimizing fraudulent activity and better managing potential risk exposures while helping us meet government and regulatory requirements," said Neil Pruski, ACH Product Manager with Frost Bank.

CheckFree's PEP+ Fraud and Risk Protection Package includes the PEP+(r) OFAC MonitorTM, SEC MonitorTM, Debit Return MonitorTM and PrefundingTM modules. These solutions will enable Frost Bank to:

*Scan ACH cross-border entries that it originates or receives against the Specially Designated Nationals and Blocked Persons (SDN) list to identify unlawful entries.
*Better track how customers are using ACH services and assist in detecting suspicious actions.
*Monitor and report returned items across all standard entry classes to identify potentially fraudulent originators.
*Create a settlement transaction on the date the file is presented by the corporate customer to guard against returns losses for those bank customers that present a higher risk.

According to Esther Pigg, vice president of global product management for CheckFree Software, "CheckFree's Applied Operational IntelligenceSM approach, combined with the PEP+ Fraud and Risk Protection Package of solutions, enables organizations to focus on their core business - with the confidence of knowing that compliance reporting and tracking are being handled efficiently and in accordance with government standards.
These solutions will assist Frost Bank in minimizing risk exposure for the bank and its customers."

CheckFree's Applied Operational Intelligence approach helps clients drive profitability and performance through a combination of innovative software, industry expertise and collaborative partnership. This approach is built on CheckFree's core competencies of reconciliation, exception management, transaction process management, corporate actions processing, payments processing, risk management and compliance. The Applied Operational Intelligence approach is expressly designed to manage risk and efficiency, while leveraging valuable 'operational intelligence' to achieve measurable return on investment.

CheckFree PEP+, together with its comprehensive suite of add-on modules, provides a complete solution for quickly and efficiently originating and receiving payments through the ACH, improving operating effectiveness and decreasing costs.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development