Citi and the Citi Foundation Announce $25mm University Research Initiative

Citigroup launched its “Financial Insights Project,” whereby over the next five years, the Citi Foundation will provide up to $25 million to leading universities conducting research on issues affecting the financial services in innovation, technology, globalization and consumer behavior. For 2011, the Citi Foundation will award individual contributions to the graduate schools at Columbia University, Harvard, the Massachusetts Institute of Technology (MIT), Stanford and Yale. Globalization: Innovation, Risk and Regulation in a Global World: Top faculty and graduate fellows from Columbia University’s schools of business, law, and other divisions will examine the interplay of global and local product innovation; U.S. Competitiveness: Sustaining the American Advantage: Harvard Business School’s faculty will study various facets of U.S. competitiveness; Impact of Technology on Retail Banking and Consumer Finance: MIT’s Sloan School of Management will research the impact of technology on the future of retail banking and applications of data-mining techniques; Financial Services Innovation and the Impact of Social Media on Financial Services: The Stanford Graduate School of Business will conduct research on financial services innovation; and Dynamics of Consumer and Financial Behaviors in China and India: Yale School of Management faculty will pursue market expansion effects of mobile banking and investigate the dynamics of how financial markets impact society.

Details

Bank of America Offers Relief for Devastating Tornados

Bank of America announced a $50,000 commitment to aid communities affected by last night’s tornados in western and central Massachusetts, half of which will be directed to the American Red Cross in support of their immediate recovery efforts, while the other half will be used in the coming weeks and months as the rebuilding process gets underway. In addition, the Bank of America Charitable Foundation will match employee pledges to relief efforts through the bank’s Matching Gifts program.

Details

DATACARD ANNOUNCES SEMINAR FOR U.S. CARD ISSUERS

Datacard Group secure ID and card personalization solutions will be hosting a seminar specifically focused on educating U.S. bank executives on how to build EMV compliant card programs into their portfolios. Held on June 21st and June 22nd, 2011 at Loews Philadelphia Hotel in Pennsylvania, this seminar will be led by Datacard Group card issuance industry experts, who will give a high level educational overview on implementation options and infrastructure requirements needed to rollout an effective EMV compliant card program. Successfully implemented in over 200 card production environments for EMV-compliant programs, Datacard® brand solutions currently issue over five million smart cards every day worldwide.

Details

One Step Retail Solutions Announces Up-Coming Conference

One Step Retail Solutions (www.onestepretail.com) is sponsoring a new event in June to “Increase Your Cash Flow and Profitability Conference,” targeting retailers who use Retail Pro POS software. The all-day event will be held on Tuesday, June 28th and will feature the CEO of Retail Pro International, speaking about the future development of Retail Pro software and its impact on the 35,000 stores around the world that use this point of sale system. Attendees will also receive passes for two to the Skirball Cultural Center Museums.

Details

Equifax and Fico Partner to Offer Banks Improved Credit Choices

Equifax and Fico partnered to enhance the latter’s “Triad Customer Manager,” integrating it with the former’s “Customer Insights” service. This first solution from the companies’ expanded partnership will allow lenders and card issuers to improve predictions of customer risk and behaviour and make more profitable credit management decisions. Equifax’s “Customer Insights” offering, banks, card issuers and retailers using “FICO TRIAD” Customer Manager can easily integrate a comprehensive range of customer-level data into their credit decision strategies. With the FICO “TRIAD Customer Manager,” it lets financial organisations improve credit decisions on which credit offers to make to which customers, what over-limit transactions to authorise, how to treat early-stage delinquencies in collections, and how to manage customers’ credit limits.

Details

Knoah Solutions Awarded PCI-DSS Certificate

Knoah Solutions completed its compliance audit by TÜV Rheinland Group auditing and was given an Attestation of Compliance for PCI-DSS certification. The TÜV Rheinland Group is a leading provider of technical services worldwide. Knoah Solutions business process outsourcing (BPO) services has provided low-cost, multi-channel customer service and technical support. Their largest client earned the J.D. Power & Associates customer service award three years in a row.

Details

RDM Corporation Scanner Certified by FTNI

Financial Transmission Network (FTNI) has completed its certification to support the RDM Corporation’s “RDM Connect” auto feed multi-feature check scanner with its “ETran” platform. Integrating “RDM Connect’s” multi-functional scanner to process checks, swipe credit and debit cards and capture ID cards facilitates the merchant’s desire to simplify payment acceptance. The “RDM Connect” scanner resonates well with FTNI’s ETran application, a receivables platform letting merchants process Remote Deposit Capture, ACH and credit/debit cards, all from a single platform which also satisfies the growing demand for payment diversity by accommodating mail-in, walk-in, call-in and web payments.

Details

Trustwave on Groupement d’Intérêt Economique Cartes Bancaires GIE CB Preferred Vendor List

Trustwave information security and compliance solutions has been added to Groupement D’intérêt Economique Cartes Bancaires’ (GIE CB) preferred vendor list. This process validates that Trustwave has met all necessary requirements to provide security services and technology solutions to Cartes Bancaires (CB) merchants, acquirers and service providers. CB is one of the largest European interbank card payment and cash withdrawal systems and being listed as among its preferred vendor indicates Trustwave’s internal methodologies for measuring compliance with PCI DSS have been vetted and approved by CB.

Details

Firich Introduces Eco Friendly Mobile POS Terminal

Firich Enterprises OS terminals and POS related peripherals launched its “Retail Smart” fan-less mobile POS terminal with Intel Atom N270 processor (1.6GHz). This POS hardware solution has been created for the growing trend of mobile POS and temporary point of service counters. Designed to replace traditional POS counters including separately adding monitor, reader device, printer, customer display, keyboard, and mouse to a PC, “Retail Smart” builds peripherals into the design including a LED display eliminates a keyboard and mouse, IC card reader, MSR, VFD customer display, and thermal printer supporting paper roll capacity of up to 100mm and printing speed of 230mm/sec. All of the integrated peripherals are cable-less design to reduce downtime for maintenance and takes up less counter space. It also incorporated “Green” product concepts to reduce the amount of power that is consumed as well as reducing its carbon footprint.

Details

Tyfone Announces Strategic New Hires

Tyfone mobile financial solutions has announced strategic new hires for expanding and marketing its NFC contactless payment and mobile banking solutions. Tyfone named Todd Nuzum to the new role of vice president of technology, bringing with him more than 25 years’ experience in technology research and development, including 13 years as a business systems architect with First Data merchant processing. Mark Miyamoto brings over 16 years of sales and management experience from various industries to Tyfone and will serve as director of sales. Aparna Battula will serve as director of engineering, with more than 16 years’ experience while Mahendran Kathiresan, serving as director of global alliances, will work out of the Asia-Pacific Division.

Details

Gemalto to Provide Silicon Valley Bank U.S.-Issued EMV Chip Cards

Silicon Valley Bank (SVB) has commissioned Gemalto to deliver U.S issued globally compliant EMV chip payment cards for their entire cardholder base to give their clients the security and convenience of payment cards based on the Europay MasterCard Visa (EMV) standard. Gemalto also provides consulting on EMV migration, personalization, and delivery of the cards to the end-user. Migrating to new EMV chip payment cards will enable SVB to fully address a growing concern for U.S. cardholders and offer them global card acceptance. Gemalto will provide SVB MasterCard World Elite portfolios full card design and production, secure data management and personalization of the upgraded cards and ensuring global acceptance and forward compatibility for both online and offline EMV payment transactions.

Details