CheckFree Corporation today announced that Arvest Bank has deployed CheckFree FraudNet(TM), a proactive fraud detection and case management system, as part of a comprehensive security and anti-fraud initiative.

Arvest joins more than 40 financial institutions in selecting and implementing CheckFree FraudNet, a proactive fraud engine that scales and actually becomes smarter at detecting anomalies with increased transaction volumes. Arvest, which serves 86 communities in Arkansas, Missouri and Oklahoma, is the first community bank to adopt CheckFree FraudNet.

"When I first learned about CheckFree FraudNet, I immediately recognized its value for both our customers and the bank," said Teresa Cheek, senior vice president of operations at Arvest Bank, chartered in Fayetteville, Ark. "We have experienced growing enrollment in our free CheckFree-powered electronic billing and payment service, and we wanted to take steps to ensure the safety and trust of all our customers. CheckFree FraudNet is an integral part of our commitment to security at Arvest Bank."

CheckFree FraudNet was introduced in November 2005 to help ensure that receiving and paying bills online remains safer than offline, paper-based billing and payment methods. CheckFree FraudNet can help significantly reduce losses for participating banks, as well as provide data on attempted fraudulent transactions to help law enforcement officials apprehend and prosecute fraudsters. The system combines CheckFree's cumulative knowledge of payment patterns and a sophisticated analytics engine to help financial services organizations detect and stop unauthorized payments before they are completed.

"As an early adopter of CheckFree FraudNet, Arvest Bank is a trendsetter among community banks nationwide," said Jeff Weikert, senior vice president of the Consumer Service Provider business unit in CheckFree's Electronic Commerce Division. "Arvest should be commended for taking steps sooner, rather than later, to advance the fight to combat fraud and stop it before it results in losses for the bank and its customers. CheckFree FraudNet is one more reason why receiving and paying bills online is safer and more secure than traditional, paper-based methods."

About Arvest Bank (http://www.arvest.com/ )

Based in Bentonville, Ark., Arvest Bank operates more than 200 bank branches in Arkansas, Oklahoma and Missouri through a network of 15 locally managed community banks, each with its own board of directors and management team. These banks serve customers in 86 communities with 12-hour weekday banking at most locations. Arvest also operates a mortgage company, asset management company, insurance division and mortgage servicing company.

About CheckFree (http://www.checkfreecorp.com/ )

Founded in 1981, CheckFree Corporation 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 the convenience of receiving and paying household bills online, via phone or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to hundreds of financial services organizations, which manage about $1.5 trillion in assets. CheckFree Software develops, markets and supports payment processing solutions that are used by financial institutions to process more than two-thirds of the 14 billion Automated Clearing House transactions in the United States, and supports reconciliation, exception management, risk management, transaction process management, corporate actions processing, and compliance within thousands of organizations worldwide.

Certain of the Company'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 the Company's business, and other risks and uncertainties detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended June 30, 2006 (filed September 8, 2006) and Form 10-Q for the quarter ended September 30, 2006 (filed November 8, 2006). One or more of these factors have affected, and could in the future affect the Company'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 the Company, or any other person, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and the Company assumes no obligation to update any forward-looking statements.

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CheckFree Corporation

CONTACT: Media, Judy DeRango Wicks, 1-678-375-1595, or
jdwicks@checkfree.com, or Investors, Tina Moore, 1-678-375-1278, or
tmoore@checkfree.com, both of CheckFree Corporation

Web site: http://www.checkfreecorp.com/
http://www.arvest.com/

© 2006 SYS-CON Media Inc.