PinnacleSports.com Signs with CheckFree

CheckFree Corporation today announced that PinnacleSports.com, the leading international online betting and gaming company, is live with its Operational Risk Management solution, Accurate NXG, to monitor transactional risk, automate its bank account reconciliations and optimise the resolution and reporting of exceptions across its customer accounts. Accurate NXG, originally developed by Accurate Software which was acquired by CheckFree in May 2005, has been chosen to provide an enterprise-wide operational risk management framework to enable PinnacleSports.com to manage the volume growth in the firm's online betting and gaming transactions.

CheckFree's Accurate NXG has gone live in the PinnacleSports.com operations centre in Curacao, one of the islands of the Netherlands Antilles, automating a previously semi-manual reconciliation and exception management environment. The process was time-consuming and costly, and potentially exposed the company to high levels of operational risk. By seamlessly automating the end-to-end transaction processing of payments from inception through to final resolution using a single reconciliation platform, Accurate NXG has been able to move the processing of reconciliations from an end of day to an intraday activity -- from 8 hours to an average of just 45 minutes -- freeing up finance executives for more value added activities.