CheckFree Corp. says it has integrated its automated clearing house software with check-image software from Carreker Corp. of Dallas, which it bought in April.
The Atlanta company said the combined software, which it calls Source Capture Suite, will help banks better manage check payments from image capture through conversion to ACH and routing, and to track both check and ACH return items.
"As payment silos start to break down and converge, we want to provide tactical products to help banks manage that transition," said Bert Harkins, the vice president of global strategic marketing in CheckFree's software unit.
The company announced the product last week at a users' conference in Salt Lake City.
Esther Pigg, the vice president of global product management in the software unit, said that the growing array of payment alternatives adds to the complexity of clearing transactions.
"There are float considerations. There are risk considerations," she said. "It could depend on who you are making the payment to and the agreements you've made with them."
