Date:17/11/2004 URL: http://www.thehindubusinessline.com/2004/11/17/stories/2004111701670500.htm

Back CheckFree logs in Satyam as preferred partner

Our Bureau

Hyderabad , Nov. 16

SATYAM Computer Services Ltd, the Hyderabad-based software major listed on the New York Stock Exchange (NYSE), has announced that it has been selected by CheckFree Investment Services (CIS) under a multi-year services agreement to become the preferred technology partner in the development of next generation CheckFree EPL platform.

CIS is the recognised provider of a broad range of portfolio management services to help more than 275 financial institutions, including broker dealers, money managers and investment advisors, deliver portfolio management, performance measurement and reporting services to their clients, primarily for processing separately managed accounts (SMAs).

As of September 30 this year, CIS clients used CheckFree APL to manage more than $1 trillion in assets, serving approximately 80 of the top Wall Street (sponsor) firms.

In a press release here, Satyam said it would work with CheckFree to enhance CheckFree EPL's value proposition to the SMA marketplace.

As reported at the November 2003 Money Management Institute meeting, the SMA industry is projected to grow to $4 trillion by 2007.

To support that growth, CheckFree has committed to its clients to help streamline their operations and reduce costs, the release said.