Ladbrokes Selects CheckFree for Enterprise-Wide Reconciliation and Exception Management Solution
ATLANTA and LONDON, May 17 /PRNewswire-FirstCall/ -- Global Interactive Gaming Summit & Expo, Booth 535 -- CheckFree (Nasdaq: CKFR - News) 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."
About Ladbrokes: Ladbrokes plc is the world's leading fixed-odds betting company. It is comprised of Ladbrokes, the biggest retail bookmaker in the UK, Ireland and Belgium; Ladbrokes.com, a world-leading provider of interactive betting and gaming services; Vernons, the leading football pools operator and Ladbrokes Casinos which will open the Ladbrokes Casino and Sports Bar at the Hilton London Paddington during 2006. Ladbrokes is expanding its business by building on its brand leadership, its ability to innovate and the experience and expertise of its management team and 14,000 employees.
About CheckFree (www.checkfreecorp.com)
Founded in 1981, CheckFree Corporation (Nasdaq: CKFR - News) provides financial electronic commerce services and products to organizations around the world. CheckFree Electronic Commerce solutions enable thousands of financial services providers and billers to offer their customers the convenience of receiving and paying their household bills online or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to thousands of financial services organizations, which manage about $1.3 trillion in assets. CheckFree Software develops markets and supports software applications that are used by financial institutions to process more than two-thirds of the 12 billion Automated Clearing House transactions in the United States. The division also provides operational risk management, financial messaging, corporate actions, and regulatory compliance software to more than 1,500 organizations across the globe.
Certain of CheckFree's statements in this press release are not purely historical, and as such are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management's intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in CheckFree's business, and other risks and uncertainties detailed from time to time in CheckFree's periodic reports filed with the Securities and Exchange Commission, including CheckFree's Annual Report on Form 10-K for the year ended June 30, 2005 (filed September 2, 2005), Form 10-Q for the quarter ended September 30, 2005 (filed November 8, 2005), Form 10-Q for the quarter ended December 31, 2005 (filed February 8, 2006), and Form 10-Q for the quarter ended March 31, 2006 (filed May 9, 2006). One or more of these factors have affected, and could in the future affect CheckFree's business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this press release will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by CheckFree, or any other person, that the objectives and plans of CheckFree will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and CheckFree assumes no obligation to update any forward-looking statements.
Source: CheckFree Corporation