Fundtech Posts 1Q/11 organic revenue growth of 11%

Fundtech global transaction banking solutions posted quarterly revenues of $37.2 million, an 11% increase year-over-year, compared to first quarter revenues of $33.4 million in 2010, and a 2% decrease compared to fourth quarter 2010 revenues of $37.8 million. The Company posted a GAAP net income of $2.4 million, compared with net income of $1.4 million in the first quarter of 2010, and net income of $5.8 million in the fourth quarter of 2010. Fundtech’s adjusted (non-GAAP) net income for the first quarter of 2011 was $3.6 million, compared with $2.5 million in the first quarter of 2010 and $4.6 million in the fourth quarter of 2010. During the first quarter of 2011 Fundtech closed 110 new deals and added 4 new bank customers. The Company subsequently up its 11/FY projections, pegging revenues of between $155 million and $160 million compared to the previous guidance of $154 million to $159 million; financial income of $0.5 million and an annual amortization expenses for the year 2011 will be approximately $1.4 million and that stock-based compensation expenses will be approximately $3.5 million.

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Cyber-Ark Latest PCI Council Participating Organization

Cyber-Ark Software global information security provider for protecting and managing critical applications, identities and sensitive information has joined the PCI Security Standards Council as a Participating Organization. This furthers its commitment to enabling enterprise customers to protect cardholder data and make credit card payments more secure by assuming a direct role in the development of evolving PCI Data Security Standard (DSS). Cyber-Ark provides mature Privileged Identity Management and Governed File Transfer technology to address PCI compliance requirements associated with user account management, encryption, and safe exchange and sharing of sensitive information. This development grants Cyber-Ark access to the Council’s latest payment card security standards in order to provide feedback and become part of a growing community that includes more than 600 organizations.

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S1 1Q/11 Revenue Up 13% Y/Y

The S1 Corporation payments and financial services software solutions announced its 1Q/11 total revenue up 13% to $57.8 million compared with the year ago figure of $51.2 million. Net cash provided by operating activities was $4.1 million in the quarter ended March 31, 2011 compared with $18.1 million in the quarter ended March 31, 2010. During the first quarter of 2011, the Company paid in full the note payable of $5.0 million related to the Company’s corporate headquarters. The Company had cash and cash equivalents of $59.9 million as of March 31, 2011. Revenue backlog, which is discussed in further detail below, in the Company’s Payments and Banking: Large FI segments was $64.3 million as of March 31, 2011, a 57% increase compared to $41.0 million as of March 31, 2010.

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IronKey Introduces Online Banking Customer Services

IronKey is expanding its services offerings to meet growing demand from banks to help combat online banking fraud. The new Online Banking Customer Success organization will deliver services to help institutions prevent account takeovers and differentiate their online banking offerings using IronKey Trusted Access for Banking. The new organization will be headed up by Glenn Cobb, director of professional services, who recently joined IronKey. Previously Cobb served as vice president of information systems for Tompkins Financial Corporation. Prior to that, he served as an IT architect for IBM Global Services for 10 years.

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Sifma supports Dodd-Frank deadline extension

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] SIFMA released the following statement from Ken Bentsen, executive vice president, public policy and advocacy, upon passage by the House Agriculture Committee of H.R. 1573, legislation that would extend the effective implementation date for the derivatives-related section of the Dodd-Frank Act. “We believe that the current July 21, 2011 deadline for…

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Fiserv Announces Unified Managed Household Strategy

Fiserv unveiled its strategy to introduce a true unified managed household (UMH) capability from its “Investment Services” division. The first milestone for the project was achieved in June 2010 when Fiserv acquired AdviceAmerica integrated financial advice solutions while the second is planned for the summer, at which time it will implement a solution to move additional managed account programs”mutual fund advisory (MFA), and exchange-traded (ETF) funds”onto the Unified Managed Account (UMA) platform from Fiserv. Multi-sleeve accounts will continue to work as they do today while traditional SMAs, ETFs, and MFAs will be set up as a sleeve. Also, later this year Fiserv will converge its front-office tools with its middle- and back-office technology to integrate its Financial Advice Solutions, Portfolio Management and Trading Solutions and Performance Reporting Solutions onto the company’s Unified Wealth Management platform to mark the third milestone.

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CEFCU Implements S1 Online and mBanking Services

S1 Corporation payments and financial services software announced that CEFCU credit union has licensed online and mobile banking, new account opening, and out-of-band authentication solutions from S1. This allows CEFCU members to interact with a richer online banking experience that allows them to manage their account balances, open new accounts online, utilize enhanced fraud control features, and initiate fast and secure payments from their accounts to PayPal™ users using their mobile phones.

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Western Union Announces Donations for Tornado Relief

Western Union, along with Food Lion and Rite Aid, donated $300,000 to benefit the American Red Cross. In conjunction, Western Union set up its “Quick Collect” contribution account in the U.S., benefiting the American Red Cross, allowing onsumers in the U.S. to contribute to relief efforts through the American Red Cross by making a no-fee “Quick Collect” money transfer transaction directed to the account of up to $5,000 over the next 30 calendar days. The Western Union Foundation is also encouraging employee donations through the Western Union “Employee Gift Matching Program,” through which it will match registered employee donations to the American Red Cross on a one-for-one basis.

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YESpay provides cross-border integrated payment solution

YESpay International global card payment services company is providing its comprehensive and cross-border payment solution EMBOSS to companies all across North America. Through accreditations with Chase Paymentech and First Data Merchant Services, two major card acquirers in Canada and USA, YESpay is becoming the leading payments company providing outsourced EMV, magnetic swipe and e-commerce payment services in North America. YESpay has drawn upon its UK experience to become the FIRST hosted EMV payment service provider in Canada in 2010. YESpay does NOT charge software licenses and maintenance fees and YESpay’s price comparison analysis illustrate that merchants can save more than 50% in payment service provision by choosing YESpay!

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Gemalto Multi-Category Award Finalist

Gemalto digital security has been selected as a finalist in two categories for the second edition of the Informa LTE Awards. Organized by Informa Telecoms and Media, and independently judged by an operator-only panel, the awards celebrate key contributions to LTE advancement. Winners will be announced at the LTE World Summit 2011. Recognizing Gemalto’s innovation and market leadership, the judges named the company as a finalist in the “Best contribution to LTE standards” and “Best enabling technology.” Gemalto’s LTE solutions include the LTE Full-IP Over-The-Air platform, which enables operators to instantly activate the end-users’ subscriptions, manage user rights, and securely deliver a reliable data connection over their LTE network. Also associated to the platform are Gemalto’s LTE Universal Integrated Circuit Cards (UICC) that ensures user authentication to LTE networks and secure access to IP-based multimedia services such as voice-over-LTE and enriched communication.

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