CheckFree's Leadership Position in Managed Accounts Gives It a Unique Opportunity to Forecast 2009 Investment Management Trends in a New White Paper Recently Launched

19 December 2008

CheckFree, now part of Fiserv, Inc. (NASDAQ: FISV) and the leading platform provider for Separately Managed Accounts (SMAs) and Unified Managed Accounts (UMAs), today announced that it has released a white paper entitled "The CheckFree Investment Services Perspective: Market Trends for 2009 and Beyond." The white paper provides analysis and forecasts for the financial services industry in 2009 while taking into account the turmoil present in today's financial markets. As a premier technology services provider for many of the largest and most influential global financial services companies, CheckFree's white paper analyzes what the financial markets might experience in 2009 as a result of the tumultuous events of 2008.

The white paper is part of CheckFree's ongoing commitment as thought leader to share market leading insight into the current challenges clients, sponsors, managers and the general marketplace are experiencing. The content of this white paper is based on the culmination of interviews with CheckFree's associates, market participants and third party analysts.

2008 has been one of the most challenging and volatile years for financial markets. Even as market conditions remain uncertain, CheckFree believes that now is the time to assess how the events of 2008 could impact trends in 2009. As further described in the white paper, some examples of trends CheckFree is noticing and predicting are:

• Less emphasis on institutional-like management of managed accounts and more focus on the provision of institutional type oversight;

• A dramatic reduction of technology spending and an emphasis on use of existing infrastructure;

• Accelerated need for products focused on asset preservation and income generation;

• International investment as a key for proper asset allocation;

• An emerging focus on data standards and operational efficiencies within managed accounts; and

• Returned focus on risk rather than corporate actions processing.

"As we enter 2009, we are seeing a dramatic shift in the way financial services companies look at investment services technology," said Cheryl Nash, senior vice president of strategic marketing and business development for CheckFree Investment Services, now part of Fiserv. "We believe the most important thing we can do during this difficult period is to work with our clients every step of the way in order to provide them with optimal tools that allow them to effectively navigate through this rapidly changing landscape. The white paper is one way in which we can help our clients better understand how to respond to current market uncertainty and the eventual growth that will return to the markets."

The white paper is the second annual trend analysis CheckFree has released. In late 2007, CheckFree published a forecast of 2008 financial market trends entitled, "The CheckFree Investment Services Perspective: Market Trends for 2008 and Beyond."

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