Checkfree Corp. announced at the American Banker's Retail Banking Forum that it expects to sign on more than 100 financial institutions for its electronic banking service by the end of first quarter.
The Columbus, Ohio-based service provider is setting an ambitious goal that hinges on a number of key moves the company has made in recent months. The include alliances with Fiserv Inc. and Electronic Data Systems Corp. and the acquisition of Servantis Systems Inc.
Checkfree has started to set up its 19 current financial institutions to handle home banking.
Once the Servantis deal receives shareholder and regulatory approval, expected in March, Checkfree will have entry to its more than 70 home banking customers, including powerhouses like Bank of America and Fidelity Investments. Until now, most of Checkfree's electronic banking clientele has been smaller banks.
Jerry Garcia, a vice president for USAA, one of Servantis' most prominent home banking customers, said, "The Checkfree-Servantis union bodes well for the banking community."