Payments 2007, Booth #321 -- CheckFree Corporation (Nasdaq: CKFR) today announced that Whitney National Bank, principal subsidiary of Whitney Holding Corporation (Nasdaq: WTNY) has selected the CheckFree PEP+(R) Platinum Package. The strategic software and services deployment will enable Whitney to rapidly and efficiently process ACH payments, streamline internal processes to mitigate risk and fraud exposure, increase revenue and ensure business continuity in the event of a future disaster.
By upgrading to the CheckFree PEP+ Platinum Suite, Whitney National Bank will leverage an online, real-time ACH system that enables origination and receipt of electronic payments. The PEP+ Platinum deployment will enable the bank to migrate from paper to electronic payments processing, deliver improved web-based services to geographically dispersed clients, and create new revenue streams by introducing value-added services designed to attract new customers.
The bank will also gain the ability to highlight questionable transactions via a customizable web interface that allows customers to view and authorize transactions in real-time, helping to reduce fraudulent activities in their accounts.
Whitney National Bank, based in New Orleans, has assets of $10.2 billion and operates bank branches in Texas, Louisiana, Florida, Alabama and Mississippi. Whitney National Bank has been a CheckFree customer since 1992.
As part of the CheckFree PEP+ deployment, Whitney will move to an IBM DB2(R) database that can provide a copy of their complete system in real-time, ensuring critical data is current and continuously available to ensure ACH disaster recovery in the event of a future incident. CheckFree will provide Whitney with a dedicated professional services team with the expertise to implement the DB2 software on-site, significantly reducing the time to market of the new solution.
"As a historically commercial bank, Whitney National Bank values the ability to offer our customers a contemporary product set, and considers it an essential component of the Bank's ongoing strategy," said Rodney Chard, Executive Vice President, Operations and Technology, at Whitney National Bank.
Randy McCoy, executive vice president and general manager at CheckFree, said, "By combining the PEP+ Platinum Package with CheckFree's Applied Operational Intelligence(SM) approach, we can deliver superior business continuity functionality for ACH processing. As a result, Whitney can focus on continuing to provide excellent customer service with this comprehensive, easily maintained solution."
CheckFree's Applied Operational Intelligence approach helps clients drive profitability and performance through a combination of innovative software, industry expertise and collaborative partnership. The Applied Operational Intelligence approach is expressly designed to manage risk and efficiency, while leveraging valuable 'business 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 ACH operating effectiveness and decreasing its costs. The CheckFree PEP+ Platinum Suite includes the PEP+ Fraud and Risk Compliance Package, Exchange, and CommonView modules.