ClairMail Launches Mobile Fraud Management

ClairMail mobile banking and payments has introduced its mobile fraud management solution. Marketed toward financial institutions and their customers to oversee fraudulent transactions through the mobile channel, the ClairMail “Fraud Solution” works with existing fraud systems and processes to help mitigate card, Direct Deposit Account (DDA), online banking and identity fraud. The “Fraud Solution” is the first release of a family of business-level solutions that demonstrate how the mobile channel can power new mobile capabilities, products and packages across the entire enterprise while bolstering the value and return on investment the mobile channel brings to the institution. It also extends existing fraud detection and mitigation processes by using timely two-way alerts and workflow orchestration to verify potentially fraudulent transactions, more quickly detect false positives and bring to resolution any potential fraud incident from the mobile device.

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Payment Data’s 4Q/10 & December Sees Heavy Growth

Payment Data Systems’ credit card processing volumes for were through the roof in 4Q/10, up 31% from the previous quarter. The integrated electronic payments solutions provider also disclosed its December 2010 period had the highest credit card processing volumes were the highest of any other month in 2010, posting credit card dollars processed up 22% over November 2010. Processing dollars directly relates to gross revenue. As volume for processing dollars rises, the gross revenue for the Company’s payment processing rises as well. Payment Data Systems is an integrated payment solutions provider to merchants and billers.

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2Checkout.com Achieves Level 1 PCI DSS Compliance

2Checkout.com (2CO) has been certified Level 1 compliant with the PCI-DSS to offer merchants increased security and peace of mind. This compliance also allows its clients to focus on buildng their business, instead of engaging in an assessment and remediation process that can be cumbersome for small to mid-size businesses and cost thousands of dollars. 2Checkout.com (2CO) is a worldwide leader in payment and e-commerce services and provides web-based businesses merchant accounts, merchant account alternatives and a fully automated suite of backend services.

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Kawartha FCU Implements Fiserv Core Banking

Kawartha Credit Union of Peterborough of Canada has chosen to implement the “Acumen” core banking system from Fiserv financial services technology solutions. The $700 million institution cited the integrated loan origination platform of Acumen and its 360-degree view of members as key factors in the credit union’s decision to leverage the strategic platform in-house. Kawartha provides a full suite of services to its almost 37,000 consumer and small business members through 19 branches in Central Ontario. It is one of the fastest growing and most profitable credit unions in Ontario, and it seeks to continue that growth by providing more and better services to its members. The Acumen core banking platform is designed to meet the needs of the largest credit unions with its open architecture, advanced functionality and superior ease of use.

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California Small Businesses Show Increasing Optimism

The majority of California’s small business owners (54 percent) believe 2011 will be better than 2010, while 36% expect the same as last year and only 10% expect worse. With this, 34% of California’s small business owners say their business situation is better than a year ago, up from 28% in September and just 19% in March of last year. This, according to the latest Citibank small business survey, also shows those who rate their business situation as worse than a year ago declined to 32% from 35% in September and 45% in March. Regarding the most positive impact on their business, 28% cite reducing taxes; 21% was more credit availability; and 17% was lower healthcare costs.

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PayPal Adds 150 New Jobs for Euro Operations

PayPal announced 150 new jobs at its European operations and customer service headquarters in Blanchardstown, Dublin. The new roles will support PayPal’s fast growing European business, which achieved $1 billion in revenues for the first time in 2010. More than 1,200 people already work at PayPal’s European Center of Excellence in Blanchardstown, providing operational and customer support to consumers and businesses across Europe. PayPal’s European operation center opened in Dublin in 2003. Since then the number of staff has increased from just 25 to more than 1,200 today. The Dublin center manages all direct customer contact for PayPal’s businesses across Europe.

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Economic Index Down .5% in December

The Conference Board Leading Economic Index (LEI) for China declined 0.5% in December to 154.3 (2004 = 100), following a 0.5% increase in November and a 0.8% increase in October. Three of the six components contributed positively to the index in December. Meanwhile, The Conference Board Coincident Economic Index (CEI) for China, which measures current economic activity, decreased 0.5% in December to 196.8 (2004 = 100), following a 1.0% increase in November and a 0.2% increase in October. Three of the five components contributed positively to the index in December.

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SelectCore Announces Profit 100 Ranking Candidacy

SelectCore payment and transaction processor for prepaid financial and telecommunication services has announced its candidacy for the 2011 Profit 100 ranking of Canada’s Fastest-Growing Companies. This year will be Profit Magazine’s 23rd annual recognition, for which SelectCore’s 2011 candidacy is based on its five-year sales growth of 324% from $24.4 million in 2005 to $103.5 million in 2010. SelectCore was previously honoured three times by Profit 100 in 2006, 2007 and 2009. Since its first ranking as Canada’s 6th fastest-growing company, SelectCore has realized unprecedented growth of 39,770%.

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Opposition To Durbin Amendment Building

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Mounting opposition to the Durbin Interchange amendment to the Dodd-Frank Act, set for full implementation this Summer, now includes the American Bankers Association (ABA). As disclosed in a letter recently addressed to Senator Durbin, the ABA insists the Durbin amendment requires the Fed to interfere in the interchange fee structure and…

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Heartland Posts 4Q/10 Revenue Up +$50mm Y/Y

Always a reliable performer, Heartland Payment Systems announced its 4Q/10 net income of $6.6 million and total revenues of $478 million. This was up on total revenue of $420 million in the year ago quarter, but down marginally on $499 million posted in 3Q/10. Performance throughout the quarter was due in great part to Heartland having closed on a new credit facility in November, with a five-year $100 million term loan and a $50 million revolving credit facility with a five-year commitment. While adjusted Net Income was up to $7 million on the $5.9 million posted a year ago, additional 4Q/10 figures show a net revenue of $110.5 million, up 5.1% year-over-year; a 35.7% increase in operating income year-over-year; operating margin on net revenue of 12.9%; and same store sales up 3.8%, up almost 100% since 3Q/09. For all of 2010, GAAP net income was $34.5 million; net revenues for 2010 were $444.9 million, up 6% compared to 2009; adjusted net income and Earnings per Share for fiscal 2010 were $25.8 million, compared to $29.3 million in 2009.

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Diebold Embodies Ups & Downs of Recovery

Usually a solid performer, Diebold felt a 4Q/10 loss from continuing operations of ($119.9) million from the $7.9 million gained in the year ago period. Revenue was up though by 9%, posting a solid $791.0 million from 4Q/09 thanks to global orders having increased 7%, a growth of 12% since 4Q/09. Every region of the world was good to Diebold throughout the quarter with revenue growth from 3% in EMEA on the low end to 19% in Latin America. Performance was thanks to financial self-service orders in North America having grown in the recovery and a growing demand for deposit automation solutions. While Latin America and Asia are reliable markets for the Company, Europe continues to prove a challenge. Diebold is seeking to tap the market and re-engineering its infrastructure to free up more resources, after experiencing less than 3% on the Continent. Meanwhile, total operating expenses as a percentage of revenue for the quarter was 41.9%, an increase of 21.5% Y/Y, and included a net $0.3 million of restructuring charges and $9.2 million in restructuring charges thanks to U.S. workforce reduction. For the full-year 2010 operating loss was (0.1%) of revenue, down 5.6% from the year ago period while non-GAAP operating profit was 6.9%, up 0.7% year-over-year.

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Fundtech Puts Up Record Breaking 4Q/10, Revenue Up 15% Y/Y

Fundtech global transaction banking put up record-crushing 4Q/10 revenues of $37.8 million, a 15% increase over the $32.8 million posted 4Q/09 and a 5% increase over the $36.0 million in 3Q/10. Net income saw astronomical growth to $5.8 million compared $3.4 million a year ago and $2.9 million in just the previous quarter. The entire 2010 year wasn’t anything the Company had to complain about either with revenues up 20% to $141.9 million from $117.8 million in 2009. Net income in 2010 was $12.5 million compared with net income of $4.7 million in 2009. Growth since 2009 was all the buzz in the board room, with operating income having grown a whopping 229%; cash management up 14%; messaging having grown by 21%; and the payments segment up 24%. This was thanks in some part to Fundtech having closed 128 new deals and added 12 new bank customers in 4Q/10; closed 15 new system sales with banks; and having implemented SEPA direct debit systems in 24 European banks for some serious revenue streams. Subsequently, Fundtech sees good things to come in 2011 with major expansion into Latin America and China for strong and steady growth with projected revenues between $154 million and $159 million.

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