Sindh Bank switches to AutoSoft Core Processing

AutoSoft Dynamics bank automation IT solutions signed an agreement with Sindh Bank to provide its “AutoBANKER” software to automate their core banking operations in over 150 branches. The “AutoBANKER” modular architecture and real-time online processing functionalities have allowed banks and other institutions to streamline their core banking services as well as automate more complex banking operations.

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VeriFone NFC mSolution Awarded for Innovation

Awarded the SESAME 2011 award at the e-Transactions CARTES & IDentification trade show, the VeriFone “PAYware Mobile Enterprise” works with magnetic stripe, chip and PIN, and contactless/NFC-enabled cards and phones. This honor recognizes the best technological innovations in terms of digital security and smart technology and are the world reference for the payment industry. The “PAYware Mobile Enterprise” offers a mobile card acceptance solution that integrates existing in-store POS systems. It implements “VeriShield Protect” card data encryption and a bar code scanner to provide retailers with a secure solution for mobile POS and other applications.

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Thales achieves PCI HSM compliance

Thales’ “payShield 9000” Hardware Security Module (HSM) has achieved PCI HSM compliance. Acquirers and issuers can now build systems based on a PCI HSM that meet the requirements of the PCI Security Standards Council (PCI SSC). PCI HSM is the first HSM standard to be introduced to specifically address the security requirements when handling cardholder data and is projected as the default requirement for payments-related HSMs and is already explicitly mandated in recent guidelines and encryption standards issued by the PCI SSC. The “payShield” offers a high-performance tamper-resistant security platform that protects cryptographic keys and other sensitive information such as customer PINs and cardholder data.

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InteliSpend Prepaid Enhances Discover Prepaid Cards

InteliSpend Prepaid Solutions announced new Discover prepaid card products that will be available at the end of November, the fourth and final major payment card network on which the Company will offer intelligent prepaid solutions for business. The Discover card places a stronger emphasis on a client’s brand and where the card can be spent, particularly important in the prepaid-for-business space. Implementing InteliSpend’s DirectSpend process, the Discover products allow the Restricted Authorization Network (RAN) feature to direct spending to a limited set of merchants and retailers.

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DFC Global Names New President

Ken Schwenke has been appointed President with DFC Global unbanked and under-banked financial services. Schwenke will focus on driving innovation for the Company and assume responsibility for strategic planning and new market development. He has served as a member of the board of directors from 2006, and has served as a member of the audit, governance, and compensation committees. Schwenke earned a bachelor’s degree from Syracuse University, and a Masters of Business Administration from Duke University.

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Citizen’s Bank Deploys Jack Henry Processing

Jack Henry & Associates payment processing services announced Citizens Bank is set to implement its “SilverLake” core processing system. The bank will implement “SilverLake” through Jack Henry Banking’s outsourced offering. The Citizens Bank will initially implement an array of Jack Henry Banking’s complementary solutions including StreamLine Platform Automation-Deposits; OnBoard Loans; InTouch Voice Response; components of the jhaPassPort-ATM and debit card transaction processing platform; Cognos 8 BI business intelligence and enterprise reporting; BIG Rewards customer rewards and loyalty; Yellow Hammer Fraud Detective; Yellow Hammer BSA; Margin Maximizer Suite; Relationship Profitability Management (RPM); PROFITstar® Classic-asset/liability management and budgeting; components of the Synergy Enterprise Content Management (ECM) solution; and jXchange for open connectivity with third-party products.

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City National Bank Implements Fiserv Banking

Fiserv financial services technology solutions announced Miami-based City National Bank of Florida has selected the Premier bank platform from Fiserv to support and enhance the bank’s rapidly expanding regional footprint. The $3.8-billion financial institution cited the scalability, breadth and flexibility of Fiserv products and services as key factors in its decision. City National selected a number of additional solutions from Fiserv to supplement its Premier bank platform, including Business Process Manager, Director for electronic content management, Branch Source Capture for remote deposits, EnAct for enterprise sales management, Prologue Financial Accounting Services, and several card services solutions including the ACCEL/Exchange PIN debit network.

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CFSI Announces Underbanked Solutions Exchange

The Center for Financial Services Innovation (CFSI) commenced a gathering of leaders from mid-sized banks and credit unions at the seventh Underbanked Solutions Exchange meeting in Chicago, IL. Giving participants the chance to learn about latest best practices in the industry through a series of hands-on learning experiences and networking opportunities, the Exchange will welcome first time participants Urban Partnership Bank, BBU/Banesco Bank, and First Interstate Bank to the meeting. Attendees will discuss what defines quality in financial services as outlined by CFSI’s Compass Principles, participate in an applied behavioral economics workshop and advise participants on underbanked strategies.

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SalesVu Cloud Payment Announces Angel Funding

SalesVu cloud-based mobile payment application has closed $600 thousand in a recent round of angel investment funding. To improve payment processing for the growing mobile workforce, the SalesVu solution is the first iPhone and iPad application to accept payments and connect to a secure cloud-based infrastructure for centralized pricing management, reporting, and marketing. This infusion will promote product development and marketing initiatives, allowing the company to educate the market on the benefits of its cloud-based infrastructure and set itself apart from competitive terminal-based mobile payment vendors such as Square and Intuit.

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Chase Expands Military Banking Benefits

Chase expands Military Banking checking program to include all U.S. military veterans. The premium checking account benefits typically reserved for high-balance customers and made available to active duty Armed Forces servicemembers and members of the Guard and Reserve July 1 are now available to everyone who has served in the U.S. military. All current U.S. military servicemembers and veterans are eligible for benefits on Chase Premier Plus Checking. Available on Chase’s Military Star Rewards MasterCard; Military MasterCard; Air Force Club MasterCard; Army Morale, Welfare, Recreation (MWR) MasterCard; Navy MWR MasterCard; and Marine Corps Community Service MasterCard are 2% Cash Back rewards at Army MWR, Air Force Services and MCCS Merchant locations, No annual fee and Dedicated Military Customer Service 24 hours a day, seven days a week.

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Nordea Expands Card Processing Internationally

Nordea extended its partnership with Nets for handling payment cards to also include the Finnish market. Now Nets will be responsible for processing all payment transactions completed using payment cards for Nordea’s Nordic customers in Denmark, Norway, Sweden and Finland, which will now cover more than 100,000 merchants with more than 425 million annual transactions. Nordea and Nets will be ready to deliver full-scale at the beginning of 2012 and offer card acquiring on Nets’ global platform.

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