CheckFree Corp. has renewed a contract to provide electronic billing and payment service to retail and small-business customers of SunTrust Banks Inc. of Atlanta.
The Atlanta vendor announced the multiyear renewal Wednesday and said SunTrust had agreed to implement CheckFree FraudNet, a service that combines the vendor's knowledge of payment patterns and an analytics engine to detect and stop unauthorized payments before they are completed.
CheckFree said more than 40 institutions have signed up for the fraud service.
