Storebrand Bank Implements Tieto’s SaaS

Storebrand Bank has selected leading Nordic IT service company Tieto to provide Software as a Service (SaaS) solution for its capital markets business. Tieto runs the service from its carbon-neutral data center to ensure smooth operations of Storebrand Bank’s capital markets software and related applications. Storebrand Bank is a part of the Storebrand Group. The agreement enables the bank to free up internal resources, simplify its application management operations and cut operational risks. It also gives the bank access to the Nordic region’s leading experts in IT and the capital markets business.

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Wells Fargo Links To DTCC Loan/SERV Reconciliation

The Depository Trust & Clearing Corporation (DTCC) announced that Wells Fargo Bank has linked to its Loan/SERV Reconciliation Service to help automate and streamline the processing of syndicated loans by enabling the bank to view and reconcile loan positions with thousands of lenders on a daily basis. Agents banks already linked to Loan/SERV’s reconciliation services are The Bank of New York Mellon, Barclays Capital, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan and The Royal Bank of Scotland. Loan/SERV automates the process and enables agent banks and lenders to view and reconcile loans on a position basis, or at a more detailed level ranging from the commitment and transaction level down to the individual contracts, drawings and fees with all relevant transactions details.

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VRL Examines Contactless Payment Phenomena

VRL has released its ‘Contactless Cards: Tentative Steps’ report. Examining market take up of contactless card across the US, Europe and Asia Pacific, the report looks at whether there is real momentum behind contactless payment technology. It concludes trends in countries such as Turkey and the UK indicate card issuers and payment processing companies are paying for the introduction of the required technology to encourage growth. Also, it shows UK card providers are the most proactive, with over 11 million cards in circulation by the start of 2011.

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Ratnakar Bank Outsources ATMs to AGS Transact

AGS Transact Technologies touch-point transformations has partnered with Ratnakar Bank to deploy 250 outsourced ATMs. With this, AGS will deploy ATMs and all related equipments such as UPS, AC etc. and maintain ATMs and ATM sites. AGS Transact Technologies offers technology-based solutions for banking, retail, petroleum and postal sectors. AGS provides a complete suite of banking products through such lines as ATMs, Cash Dispensers, Cash Deposit Machines, Banking Kiosks, Biometric ATMs, Self-Service Passbook Printers, Cheque deposit Kiosks and Assisted Teller Systems.

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February Card Chargeoffs Improve to 8.05%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Chargeoffs were down in February for the fifth consecutive month-over-month improvement by 32 basis points (bps) to 8.05% while defaults are at the lowest levels since February 2009, down 29% since the year-ago period and by 30% drop since September 2009. This puts chargeoffs at a two-year low while late stage…

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Credit Card MPR Dips Below Historical Average

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The credit card monthly payment rate (MPR) stayed strong and improved to 14.69%, dipping below the historical average of 16.20% for only the third time in nine months. This after hitting 14.66% in December and a 31 month high of 19.65% abck in September. These findings are also in conjunction with…

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American Chartered Bank Implements FIS Processing

American Chartered Bank is set to deploy FIS’ Integrated Banking Services (IBS) core processing solution as part of multi-year agreements between the two Organizations. The agreements also stipulate FIS will provide to American Chartered Commercial eBanking, Business eBanking, Sales and Service as well as EFT solutions. The bank will utilize the NYCE® Payments Network for point-of-sale and ATM transactions. FIS’ IBS flexible and integrated core banking solution provides financial institutions minimal disruption to their business operations and customers. In 2010 the number of EFT transactions processed through FIS’ solutions topped 11 billion.

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nuBridges Finalist in Network Products Guide 2011 Awards

The Network Products Guide technology research and advisory guide has named nuBridges and two of its data protection products finalists in its 6th Annual 2011 Hot Companies and Best Products Awards. nuBridges is a Hot Companies finalist, nuBridges “Protect” is a finalist in the Solutions for Enterprise (Large) category, and nuBridges Protect “Token Manager” is a finalist in the Compliance category. The nuBridges “Protect” Token Manager reduces security costs, lowers the risk of a data breach, and reduces scope for PCI (News – Alert) DSS compliance. It offers a new data protection model for payment card numbers as well as for personally identifiable information (PII) and electronic health records (EHR), enabling organizations to comply with PCI DSS, PA DSS, HITECH Act, HIPAA and government privacy acts.

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Smart Card Alliance Appoints New Council

Focusing on educating thebenefits of open bank card payments and smart card-based ID and transit applications and NFC in transit for the upcoming year, the Smart Card Alliance Transportation Council announced its 2011/2012 officers and steering committee. The new 2011/2012 Transportation Council officers include Chair – Craig Roberts, Utah Transit Authority; Vice chair, transit – Gerald Kane, Southeastern Pennsylvania Transportation Authority (SEPTA); Vice chair, parking – Peter Burrows, Parkeon; and Vice chair, transit – Mike Nash, ACS, A Xerox Company.

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eLayaway Launches Spanish Language Site

eLayaway layaway payment processor has launched “eApartado.com,” a Spanish version of its website. Replicating site content, FAQ’s, alerts and the user interface of the English language version, the new application was designed to support multiple languages as well as manage different currencies. The initial launch will support the U.S. Hispanic market and merchants transacting in USD and will eventually be released globally. The ability to manage multi-lingual content on the site is the second new feature announced from the recent beta release of eLayaway 2.0, February 2011. Spanish was chosen as the Company’s first multi-lingual release due to consumer demand.

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Daddy Yankee and Western Union Launch Campaign

The Western Union Company has teamed up with Latin Grammy award-winning recording artist Daddy Yankee today in New York City to launch the “Love in Any Language” national campaign to help consumers express their love to mothers, family, friends and loved ones. This will allow consumers to create and upload their own original music video to express love to mothers, families, friends or loved ones. Once entrants have uploaded their entry, they are encouraged to tell their friends and family to go view their work and to vote. Public voting of the uploaded entries will determine 10 finalists. From the 10 finalists, final judging will be made for one grand prize winner. The grand prize winner will receive $10,000 and appear at the 2011 Billboard Latin Music Conference in Miami, Florida on April 27. The contest entry period runs from Monday, March 21 and ends at 11:59 p.m. (Eastern Time) on April 18, 2011. Love in Any Language also allows those who do not wish to enter to post a “shout out” just for fun.

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Zix Corporation Achieves PCI DSS Compliance

Zix Corporation (ZixCorp) email encryption services has been recognized as compliant with PCI DSS, having achieved the highest standard with Level 1 compliance based on DSS version 2.0. Now companies transmitting payment card information to individual customers or other businesses via “ZixPort” can be confident that they are adhering to the financial industry’s highest standards for data privacy and security. Using ZixPort can help senders to comply with financial privacy regulations, such as the Gramm-Leach-Bliley Act. Accretive Solutions is a national consulting firm and a recognized PCI DSS auditor. Accretive Solutions reviewed ZixCorp’s application for compliance and approved ZixCorp’s letter of attestation of compliance assessments for service providers.

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