CheckFree Announces Data Warehousing Agreement with
Business Technology Alliance; CheckFree APL and APL WRAP
Clients Will Have Ability to Store, Integrate and Present
Mission-Critical Data
ACTION ITEMS
CheckFree has announced an agreement with Boston-based Business Technology Alliance (BTA) to provide CheckFree APL and APL WRAP clients with access to BTA's data warehousing service via automated data transfer. The agreement between the two firms will allow users of the APL and APL WRAP portfolio management systems to effectively consolidate, control and present mission-critical data from various outside sources for internal use as well as for customers.
With BTA technology, CheckFree's networked Investment Services' clients will now be able to create enhanced client reports using integrated data from APL and APL WRAP, as well as other critical sources. This includes data such as performance measurement and asset allocation for portfolios managed on the APL and APL WRAP system, and market and news data taken from various other databases. All of this data is housed on an open relational database system (Microsoft SQL Server) that resides at the client site - giving CheckFree APL and APL WRAP users access to a powerful, cost-effective "data warehouse" foundation from which they can retrieve mission-critical data to support informed decision-making, portfolio analysis, and Internet and Intranet client reporting.
"It is critical that our clients be able to take information not only from APL and APL WRAP, but also from other data sources, and ultimately be able to present that data in a customized format to their clients," said Jamie Waller, head of business development and sales for CheckFree Investment Services. "This represents a true value-added service."
Middleton & Co. Inc., both a CheckFree and a BTA client, has successfully integrated the BTA technology into their daily data processing and reporting regiments. "We are both encouraged and excited by what we have seen so far, and initial feedback from our clients is very positive," stated Jack Wieland, president of Middleton & Co. "We now have a powerful, yet easy-to-use tool for data integration and client reporting. We see this as only the beginning. We will be able to present data to our clients in new and exciting ways."
About Business Technology Alliance
Business Technology Alliance, LLC (BTA) is a technology consulting firm serving the investment advisory community. BTA specializes in the integration of critical data sources to create "data warehouses" and in the utilization of Internet technologies to provide clients with portfolio analysis and reporting solutions.
About CheckFree
Founded in 1981, CheckFree ( http://www.checkfree.com ), the operating subsidiary of CheckFree Holdings Corp., is the leading provider of electronic commerce services, software and related products for more than 2.5 million consumers, 1,000 businesses and 850 financial institutions. CheckFree designs, develops and markets services that enable its customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure transactions on the Internet.
CheckFree Investment Services offers CheckFree APL and CheckFree APL WRAP, which include portfolio accounting, performance measurement, trading and reporting systems to financial institutions. CheckFree APL and CheckFree APL WRAP are currently used by more than 225 institutions managing over 540,000 portfolios. These portfolios total more than $400 billion in assets.