Regions Purchases Credit Card Portfolio for $1B

Regions Bank has signed a definitive agreement with FIA Card Services to acquire the Regions-branded credit card portfolio of approximately $1 billion for undisclosed terms. The portfolio of 500,000 existing Regions customer accounts will accelerate Regions’ efforts to improve balance between its consumer and commercial loan portfolios, further diversify revenue streams and better serve its customers. Regions expects the transaction to close during the second quarter. Regions hopes to integrate credit card servicing into its customer service environment by mid 2012.

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Cassis integrates with MasterCard mobile OTA

Cassis International Trusted Service Management (TSM) Services for NFC mobile devices has expanded its TSM Services to support MasterCard’s Mobile Over-the-Air Provisioning Service (MOTAPS), the world’s first enabling platform for NFC programs. With MasterCard MOTAPS, issuing banks have a standardized, easy to use, cost-effective and secure method to transfer and install PayPassTM-enabled payment account information, on demand, in real time, onto Near Field Communication (NFC)-enabled OR capable mobile phones. After account provisioning, consumers can immediately use their mobile phone at more than three hundred thousand merchant locations worldwide where PayPass is accepted. This brings to MasterCard its commercially proven TSM service that specializes in securely provisioning payment and other secure element applications OTA onto mobile phones and then managing them over time.

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Safaricom CEO Kicks off Underbanked Forum

The Center for Financial Services Innovation (CFSI) began its 6th Annual Underbanked Financial Services Forum with Michael Joseph, the former CEO of Safaricom, delivering the keynote address. Joseph spearheaded the development of M-PESA”the only mobile payments system in the world to achieve scale. His keynote address, “Innovation Abroad: An International Mobile Payment Success Story,” shares lessons and insights on providing financial services to the underserved through mobile. Joseph also examines mobile strategies he thinks will ultimately be the most successful in the U.S. marketplace and worldwide. The Underbanked Solutions Exchange is a collaborative group of mid-size banks and credit unions engaged in action-oriented discussions to share thoughts, ideas, questions, and experiences with other institutions all with the ultimate goal of profitably and responsibly serving the underbanked.

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Smart Card Alliance and the NFC Forum to Launch NFC Conference

The Smart Card Alliance and the NFC Forum will co-host an event focused on Near Field Communication (NFC) in spring 2012 called the NFC conference. Focusing on the state of the technology for NFC, NFC devices and add-ons, NFC ecosystem development, use cases for NFC-enabled applications (both payment and non-payment), NFC implementation, and North America and international markets for NFC, the date and location of the 2012 NFC conference will be announced later this year. The Smart Card Alliance is a not-for-profit, multi-industry association working to stimulate adoption, use and widespread application of smart card technology while the NFC Forum seeks to advance the use of Near Field Communication technology by developing specifications, ensuring interoperability among devices and services, and educating the market about NFC technology.

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Q2ebanking gets Texas Bankers Association endorsement

Q2ebanking (Q2) premier electronic banking solutions for community financial institutions has received endorsement for its risk and fraud analytics (RFA) solution from the Texas Bankers Association and its subsidiary. RFA monitors consumer and business transaction activities across all channels in real time and reacts proactively to detect and flag potentially fraudulent transactions. Q2 continuously updates the security solution to meet the latest threats and challenges, and regularly modifies algorithms to enhance overall platform security. The Q2Security solution also includes native out-of-band transaction authentication, multifactor authentication (MFA), real-time alerts and VeriSign® tokens to protect both consumer and commercial transactions.

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Vasco launches USB-based Authentication

Vasco Data Security International software security and authentication products launched its “Digipass Key 101” USB-based PKI solution for strong authentication, digital signatures and data protection. The “DIGIPASS KEY 101” offers secure remote access and digital signatures in a single ‘plug-and-play’ device with an extremely sturdy and portable design and can be used for various purposes such as desktop and application log-on, disk encryption, and transaction signing. It combines the strength of certificate-based authentication with the simplicity and portability of a built-in USB reader. This is part of VASCO’s PKI-based product line and is used in conjunction with DIGIPASS CertiID, a client-based software suite offering digital signing capabilities. DIGIPASS KEY 101 product benefits include enhanced security; reduced costs; and support for operating systems such as Windows, Linux and Mac OS x (without installment of dedicated drivers).

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FICO CEO to Speak on Consumer Banking Forecasting Panel at CBA LIVE 2011

FICO analytics and decision management technology announced its CEO will speak as part of a panel discussion featuring banking industry thought leaders on June 12 during CBA LIVE 2011 in Orlando. CBA LIVE 2011, taking place June 12-14 in Orlando, is an annual conference for the retail banking industry, bringing together leaders from eight banking disciplines in one event, providing attendees with learning and insight for their sector as well as broad industry perspective. The expected 850 attendees at CBA LIVE will have access to 80 hours of in-depth programming by segment, general sessions with industry leaders and luminaries and breakout sessions to share ideas in a smaller setting.

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US NFC Market Primed to Commercialize

The US market has already welcomed the Near Field Communication (NFC) technology which, according to Frost & Sullivan, will be commercialized by the end of 2012 or beginning of 2013. In Frost & Sullivan recent webinar entitled “Smart Cards in the Financial Services – From Chip Bank Cards to Mobile Payments” a Research Analyst for Smart Cards group looked into the smart card solutions dedicated for the payment industry and discussed the major trends on the market. The complimentary recording is available on request. The NFC technology is going to be commercially deployed next year or in the beginning of 2013, as market participants have successfully addressed the majority of challenges. Early adopters will benefit by gaining experience, innovative reputation, and generating new revenue streams.

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ValidSoft names RMS IT Security UK channel partner

ValidSoft fraud prevention, authentication and transaction verification solutions, has announced an agreement with RMS IT Security IT security solutions provider. RMS IT Security will be the first channel partner in the UK to provide ValidSoft’s “VALid” Four-Factor Authentication solutions set. ValidSoft is a wholly-owned subsidiary of Elephant Talk Communications, an international provider of business software to the telecommunications and financial industries. The “VALid” authentication solution addresses risk through an extensible Out-of-Band (OOB) authentication model that can not only vary the authentication strength, but can also implement additional authentication factors through the combination of its own proprietary voice biometric technology coupled with Proximity Correlation Logic (PCL).

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