Travelex Global Business Payments cross-border payments and Fundtech global transaction banking have partnered to provide an industry-leading integrated foreign payment solution for U.S. financial institutions. Giving financial institutions using Fundtech’s “PAYplus USA” for domestic wire transfers connection to Travelex’s international wire payments platform, this allows banks and credit unions to grow their non-interest revenue streams, to subsequently concentrate on core business activities. With this, Fundtech’s foreign payments solution offers Streamlines Payment Processing; Reduces Errors; and Consolidates Reporting Options.Details
Wincor Nixdorf is set to modernize Poste Italiane’s ATM network over the next two years. The specialist for IT solutions in the banking and retail industries will install some 1,100 ATMs in the branches of Italy’s leading postal and financial service provider. Wincor Nixdorf will also take responsibility the ATM maintenance, which will let Poste Italiane offer its customers additional ATM features such as scanning and paying of invoices, for example. The systems ensure that cash withdrawals can be handled securely, since they are equipped with anti-skimming modules that prevent card data from being read and stolen.Details
Oberthur Technologies secure technologies has considerably increased the capacity of its service center in Madrid. With this, it can offer its Banking, Telecommunications, Transport and Identity customers in Spain a wider range of value added services, as well as an even more efficient and accessible after-sales service. New equipment will be installed in the new service centre for embedding, laser engraving and high definition colour printing. Oberthur Technologies has also increased its offer of “Smart Services”, such as connected systems for real time monitoring of work in progress, automatic reporting of finished work, as well as shared management of assets. In addition, Oberthur Technologies has reinforced its offer in mobile services such as SIM “Personalisation on Demand”, “Delivery on Demand” and Point of Sale packaging.Details
Australia-based payments vendor DISTRA PTY LTD has expanded their growing global bank software presence to North America, as advised by RK Hammer. DISTRA supports solutions such as distributed appliances, federated platforms, and migration gateways to bridge the growing divide between old and new payment worlds for consolidation, convergence and real time payments, and provide system ability to quickly implement new business models.
Credit and debit card processing, ATMs, Mobile Banking and Internet Banking, plus health care industry models all benefit from DISTRA payments innovations, throughout Europe, Asia/Pacific and now the US with agility, real time payments processing with high levels of performance, security and reliability. Proven in tier one financial institutions throughout Europe and Asia/Pacific, DISTRA’s payments solutions enable financial institutions, payment processors and other organizations in the payments chain to quickly address cost, regulatory and competitive challenges, with maximum reliability.
DISTRA’s flagship solution, “Universal Payments Platform,” is an application software suite that combines and configures the enablement of processing disparate payment transaction types. It is a modern, advanced and sophisticated software solution, reliably tested and running live in global markets, providing for fault tolerance within the DISTRAS software rather than being reliant on fault tolerant hardware, as well as supplying cost reliability and extensibility advantages. It has been designed to operate at the heart of payment switching environments with no compromise in availability, security, capacity, data integrity, or external connectivity.Details
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Although consumer bankruptcies reached the highest point since April of 2009 with a total of 144,657 recorded in March, 1Q/11 saw bankruptcies decline overall by 6% nationwide since the year ago period. Total bankruptcies for the quarter reached 340,012, compared to the 363,215 consumer filings recorded in 1Q/10. These findings, according…Details
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In 4Q/10, U.S. consumers saw approximately 1.4 billion offers for new credit cards, up from a mere 551 million in the year ago period. Representing a fifth consecutive period of growth, according to Mintel Comperemedia, this suggests lenders are becoming increasingly confident as the mean balance transfer fee on introductory balance…Details
The American Bankers Association is further endorsing Trustwave information security and compliance solutions for data security to protect banks from abuse of proprietary and sensitive information. Addressing the risk by suspect employees or “insider” activity at banking institutions has focused on combating fraudulent behavior aimed at the financials of the bank and its customers, especially with the advent of blogs, social media and open Web forums. The Trustwave “DataControl” offers ABA members access to a unique solution that integrates data leakage prevention with “Smart Tag” encryption. The “Smart Tags” contain encryption and protection policies that stay with data as it travels from device to device, so data is consistently protected at all times and wherever it goes. Trustwave DataControl discovers where sensitive data resides across the organization based on criteria set by the financial institution, and then protects the discovered data by encrypting it.Details
First Data electronic commerce and payment processing has partnered with Accertify to advance its “Fraud FlexDetect” eCommerce fraud detection and prevention. With this, merchants can protect their business from unauthorized card use through robust fraud detection and management tools authorization flow. The “Fraud FlexDetect” is accessible through several of First Data’s existing processing platforms and includes a real-time scoring engine that evaluates the risk level of transaction data based on the merchant’s customized parameters. Its tools include device fingerprinting, IP geolocation and velocity checks and provides merchants with a user-friendly interface that contains streamlined reporting and link analysis; multiple levels of role access and visibility to compare fraud scores against chargeback and dispute data.Details
R. Mark Graf has been appointed executive VP, CFO and chief accounting officer with Discover Financial Services. Bringing with him extensive experience, Graf will oversee Discover’s financial operations, including treasury, accounting, investor relations and all financial reporting functions. He was most recently an investment advisor with New York-based Aquiline Capital Partners after having been a partner at Barrett Ellman Stoddard Capital from 2006 to 2008. Graf was executive VP and CFO for Fifth Third Bank from 2004 to 2006, after having served as its treasurer from 2001 to 2004.Details
3i Infotech has partnered with Western Union global payment services to make available joint electronic billing and payment solutions to clients of both companies to further optimize client revenue chains. Focusing on increased efficiency, simplicity and cost controls, the partnership incorporates 3i Infotech’s advanced eBilling and correspondence delivery and its electronic lockbox offering, along with a Western Union comprehensive suite of electronic payment services. The ePayments platform allows biller’s customers to easily access their eBills, promoting migration from paper billing, enhancing efficiencies, and easily integrating with the billers’ end-to-end revenue chain; more payment options for customers; A/R consolidation through the eLockbox, giving users the powerful ability to receive a single A/R file for their entire spectrum of payments channels; and concentrates on customer relationship management and retention benefits, environmental sustainability, and reduced print and postage costs.Details
U.S. District Judge Lawrence Piersol denied the government’s motion to dismiss TCF National Bank’s (“TCF”) complaint and took the motion to dismiss the Office of the Comptroller of the Currency (“OCC”) as a proper party defendant under advisement. Conjunctively, the judge denied TCF’s motion for a preliminary injunction, but intends to hold a further hearing immediately following the Federal Reserve Board’s issuance of its final ruling on debit card interchange. Questioning the constitutionality of the Durbin Amendment’s exemption for banks with assets less than $10 billion under the equal protection clause of the U.S. Constitution, Judge Lawrence holds the government’s position that a two-tier pricing system for banks above and below $10 billion in assets will eventually result in a single rate to all banks is speculation on the government’s part.Details
Online Resources Corporation online financial services and The Western Union Company global payment services have teamed to provide financial institutions enhanced same-day, expedited payment solutions. Significantly expanding the options available to consumers who want to make last-minute bill payments to billers through the websites of more than 500 financial institutions, the partnership allows Western Union to bring to Online Resources’ banking clients greatly enhanced expedited payments services. These services now includes same-day delivery and posting to many more prominent billers in the mortgage, credit card, auto finance, telecom, cable, utility and other industries.Details