FIS banking and payments have kicked off a low-cost, prepaid electronic financial account solution that enables consumers to make electronic deposits and payments as an alternative to a traditional demand deposit account (DDA) or general-purpose reloadable (GPR) prepaid card. FISâ prepaid electronic financial account offering is funded in advance by deposits and value-loading transactions and provides simplified financial services to a variety of consumer segments, including the unbanked and underbanked. Because it is not tied to a checking account, this FDIC-insurable account can be offered by both financial institutions and non-financial organizations, such as leading retailers. The electronic account exclusively supports all forms of electronic payments and eliminates costly paper documents such as monthly statements and account opening documentation. The prepaid electronic financial account can be accessed via the most common self-service channels including online, POS, ATM, interactive voice response (IVR), call center and mobile.Details
Recombo Inc., the global leader in Contract Management Software, announced the appointment of Tony Abruzzio as Vice President, Global Electronic Payments and Banking. In his role, Mr. Abruzzio is responsible for leading all customer facing resources which support Recombo Merchant Card Services and Banking customers.
Prior to Recombo, Mr. Abruzzio was Senior Vice President Emerging Technology / Business Development for Global Payments Inc., one of the largest worldwide electronic payment processors. With more than 30 years of experience developing, implementing, and managing business change, Mr. Abruzzio has held several key executive roles at leading card services organizations including GO Software, Inc., the market leader in POS (point-of-sale) payment processing software. Under Mr. Abruzzioâs leadership, GO increased revenue by an annualized rate of over 20 percent and increased product installations from a few thousand to over 250,000. In addition, he led GO to sustained profitability and facilitated the sale of GO to VeriFone Holdings.
“We are very fortunate to have Tony join our team. To have someone of his extensive knowledge and strong reputation within the card services vertical join Recombo reflects our growth and reputation as global leaders in the banking industry,â said Recombo CEO, Mike Gardner. “Tony is a highly respected executive and well positioned to lead our continued efforts in realizing many future opportunities for Recombo.â
âI am very excited to join Recombo,â said Mr. Abruzzio. âThey have already forged impressive success in the electronic payments market with their contract management software platform, Agreement Express, and I look forward to bringing my experience and expertise to Recombo, as we rapidly move forward providing customers in the financial services industry with world-leading technology and robust products to help them achieve their business goals.â
Mr. Abruzzio is an active leader and in demand as a speaker at events, in the electronic payments community. He has led industry association committees. He was Chairman of the Electronic Transaction Association (ETA), Technology and Best Practices Committees. Currently, he sits on the Strategic Networking Forum Planning Committee.
Recombo is a global leader in contract management software that helps organizations streamline business processes, improve productivity, and reduce operational costs by 75% annually by automating their contract workflows. Agreement Express by Recombo is a paperless contract management software platform that materially improves operating margins within days by replacing paper-intensive business processes. Agreement Express is revitalizing the contract management software market with technology that is powerful, affordable and rapid to implement. Agreement Express is built around a document management system that enables users to efficiently manage contracts as they flow through each step of the contract approvals cycle from contract creation, distribution, signing, error-checking, and monitoring through to storing and retrieving. A robust set of built-in workflow automation features enables organizations to rapidly automate even the most complex paper-process. Agreement Express can automate all types of processes that require a number of forms to be completed and various internal and external signatories to sign & approve, in applications such as insurance, wealth management, debt settlement and merchant card service application forms, employee on-boarding, and equipment lease agreements,. Agreement Expressâ flexible integration engine enables contract data and completed contracts to be exported and imported to and from any internal or external back-office systems including CRM and websites. Customers include Deloitte, Questrade, Billing Tree, HUB International, M&T Bank.Details
INSIDE Secure semiconductors announced several promotions designed to strengthen the management team for the next phase of the companyâs growth. With this, Charles Walton has been promoted to chief operating officer for INSIDE after serving as executive vice president of payments for several years. Christian Fleutelot, formerly managing director of Atmelâs SMS business (just acquired by INSIDE), is now general manager of INSIDEâs VaultIC-Secure Microcontroller Solutions business unit. Andy Bear, who joined INSIDE as part of the Atmel SMS business acquisition, has been promoted to general manager of INSIDEâs new East Kilbride, UK operations. Bertrand Moussel has been promoted to executive vice president of worldwide sales. Additionally, Lim Boon Heong was appointed to general manager for the Asia-Pacific region.Details
NCR Corporation has won a new ATM order contract of 1,500 units from ATMU (China) Technology, extending its presence to the Chinese bank market. The order includes the NCR “SelfServ” ATM family with intelligent cash deposit and recycling functions. Since 2008, NCR has won volume ATM orders from ATMU for three consecutive years totaling more than 3,000 units. Allowing small-to-medium sized banks in China avoid making separate investments in dedicated ATM fleets, the contract features the NCR “SelfServ 22” and “SelfServ 25” models and the NCR “SelfServ 31” and “SelfServ 36” with intelligent cash deposit and recycling capabilities. The Bank committed to the contract citing NCR SelfServ helps drive deposit and revenue growth by delivering broad range of transactions and ensuring higher availability to consumers.Details
The job loss rate is slipping again. After a steep drop-off to a 9.2% unemployment rate in September, the lowest since 2009, November posted a rise in unemployment to 9.8% of the workforce. The corresponding credit card charge off rate is a clear indication of this. After having skyrocketed to 10.93% in March of 2010 and having nosedived from 10.03 in August to 8.9% in September, credit card charge-offs are also increasing to now sit at 10.19%. This follows months of soaring past the 6% mark in December of 2008, the 8% mark that following spring, and finally the 10% mark in September of ’09, comes as sweet relief to rampant fear last year credit card-backed securities would realistically near 12% by this time. According to CardData (www.carddata.com), average charge-offs for the first quarter were an unprecedented 10.93% with an unemployment rate of 10.2%, which is not far off from the what is now the current situation. Card delinquency rates, however, continue to improve and are down from the year ago figure of 1.09% and the previous quarter figure of 0.92% to 0.83%. For complete details on credit card charge-offs visit Carddata.com (www.carddata.com).
Jun/08: 5.7% 5.3%
Sep/08: 6.0% 5.5%
Dec/08: 7.1% 6.0%
Mar/09: 9.0% 8.7%
Jun/09: 9.7% 9.5%
Sep/09: 10.4% 10.1%
Dec/09: 9.7% 10.6%
Mar/10: 10.2% 10.93%
Jun/10: 9.6% 10.28%
Sep/10: 9.2% 8.9%
Nov/10 9.8% 10.19%
Source: CardData (www.carddata.com)
INSIDE Contactless announced it has changed its name to INSIDE Secure to reflect the companyâs newly enhanced product portfolio and market focus after the acquisition of Atmel Corporationâs Secure Microcontroller Solutions business. The new name represents INSIDEâs mission to be the leading provider of semiconductors for secure transactions and digital identity, and its position as the only company 100 percent focused on secure semiconductors.
âINSIDE Secure is very well positioned to sustain future growth by combining contactless and security expertise, products and innovation to drive trust into the next wave of smart card, mobile and Internet device applications, services and infrastructure.â
âThrough the strategic acquisition of Atmel SMS, we are building on our contactless leadership to create a unique fabless semiconductor leader aimed at driving trust for the secure transaction and digital identity markets,â said RÃ©my de Tonnac, chief executive officer for INSIDE Secure. âINSIDE Secure is very well positioned to sustain future growth by combining contactless and security expertise, products and innovation to drive trust into the next wave of smart card, mobile and Internet device applications, services and infrastructure.â
The next generation of electronic transactions via the Internet, mobile devices and other channels will require increased security. INSIDE Secureâs broad portfolio of secure semiconductors inject trust into mobile phones, passports and ID cards, payment cards, acceptance devices, set top boxes, transit fare collection systems, physical access control systems and other embedded security applications.
With a global presence, INSIDEâs deep understanding of vertical markets and ecosystem relationships, and its fabless model, enable the company to anticipate market needs and adapt quickly to customer requirements.
INSIDE already has achieved leadership positions in several large, high-growth sectors, such as global payments (including EMV dual interface), electronic identification, embedded security, pay TV and mobile NFC markets. With more than 350 million chips delivered to customers each year, INSIDE Secure is the number one global provider of contactless chips for payments, and is the near field communication (NFC) technology and market leader. INSIDE is now uniquely positioned for the anticipated explosive growth in its markets.
About INSIDE Secure
INSIDEâs secure semiconductor products power smart cards, mobile devices, acceptance devices and infrastructure systems. The companyâs expertise in microcontroller architectures, security, RF/analog design and vertical market requirements places INSIDE Secure in the forefront of secure contactless, contact, embedded and NFC technologies. INSIDE’s innovation, collaboration with customers and commitment to open standards have earned it a leadership position in markets worldwide. INSIDE Secure is headquartered in Aix-en-Provence, France, with offices in Europe, Asia and Silicon Valley. For more information, please visit www.insidesecure.com.Details
INSIDE Secure semiconductors announced several promotions designed to strengthen the management team for the next phase of the company’s growth. With this, Charles Walton has been promoted to chief operating officer for INSIDE after serving as executive vice president of payments for several years. Christian Fleutelot, formerly managing director of Atmel’s SMS business (just acquired by INSIDE), is now general manager of INSIDE’s VaultIC-Secure Microcontroller Solutions business unit. Andy Bear, who joined INSIDE as part of the Atmel SMS business acquisition, has been promoted to general manager of INSIDE’s new East Kilbride, UK operations. Bertrand Moussel has been promoted to executive vice president of worldwide sales. Additionally, Lim Boon Heong was appointed to general manager for the Asia-Pacific region.Details
Fewer Americans plan to spend less money this season on holiday shopping, with 38% planning to spend less than they did in 2009 when 43% planned to spend less than they did in 2008. Also, 13% plan to spend more this year, 43% will spend about the same, and 6% don’t know. This, according to Discover Financial Services “Holiday Shopping Survey,” shows among those planning to spend more or the same this holiday season, more than 60% note that the economy will be a least somewhat influential on their decision to spend on gifts this year; the number of consumers planning to stay within their budgets is down from 66% last year to 57%; 31% will shop for less expensive brands this season from 57% in 2009; 6% will re-gift this year to make the most of their holiday budgets from 17% in 2009; and 23% will wait for last-minute deals from 35% in 2009. Moreover, holiday shoppers plan to spend $730 on gifts this year, compared to $723 in last year and down from $831 in 2008; 62% will use cash to pay for most of their holiday purchases this season; 28% will use credit; and 2% will use layaway. This is in conjunction with Cardweb.com findings 78% of holiday shoppers will have a budget in place before they begin their shopping, 42% of whom will start with a specific budget for each individual on their shopping list, and 64% agree gift cards are the way to go. Conversely, 85% would appreciate receiving a branded gift card, 65% of whom would prefer it to a ânon-essentialâ holiday gift (2010/11/09).Details
NCR Corporation has won a new ATM order contract of 1,500 units from ATMU Technology, extending its presence to the Chinese bank market. The order includes the NCR “SelfServ” ATM family with intelligent cash deposit and recycling functions. Since 2008, NCR has won volume ATM orders from ATMU for three consecutive years totaling more than 3,000 units. Allowing small-to-medium sized banks in China avoid making separate investments in dedicated ATM fleets, the contract features the NCR “SelfServ 22” and “SelfServ 25” models and the NCR “SelfServ 31” and “SelfServ 36” with intelligent cash deposit and recycling capabilities. The Bank committed to the contract citing NCR SelfServ helps drive deposit and revenue growth by delivering broad range of transactions and ensuring higher availability to consumers.Details
Cameleon Software, a global leader in product design, sales configuration, quotes, and proposals (CPQ) software and Acumen Solutions, an international leader in business and technology consulting, announce the signing of a partnership agreement between both organizations. Through this partnership, both organizations – which are both very active in the Cloud and in the Salesforce.com ecosystem – intend to broaden their footprint and to deliver greater value to customers.
âBig Ideas for Big Players: Optimizing your Mobile Workforceâ
âWe are delighted about this new partnership as Cameleon Software continues to extend its value in the Cloud. Acumen Solutions brings extensive knowledge and value with their experience with over 300 Salesforce CRM projects. In addition, both organizations share the same philosophy: both are customer centric and customer success is priority number one for each company. I believe this is key for a fruitful partnership, and we look forward to a long term and mutual successful relationship with Acumen Solutions,â stated Jacques Soumeillan CEO at Cameleon Software.
âEnsuring that the solutions we recommend are enterprise-class is a critical component to success with our Global 1000 and government clients,â explained Donita Prakash, chief marketing officer at Acumen Solutions. âCameleon Software has proven its effectiveness within large and complex organizations. They have tight integration with salesforce.com, and we believe that the demand for this type of cloud-based solution is strong.â
Cameleon Software and Acumen Solutions are exhibiting at Dreamforce 2010, the Cloud Computing Event of the Year, from December 6 â 9 at the Moscone Center in San Francisco.
Visit Cameleon Software booth# 807 and hear its experts speak at the Breakout Session: âSales Insider: Secrets of a Successful CPQ Deploymentâ, during Dreamforce, on Tuesday, December 7, 2:15 p.m. â 3:15 p.m, Room: Moscone West 2016.
Visit Acumen Solutions booth # 135 and hear its experts speak at: âBig Ideas for Big Players: Optimizing your Mobile Workforceâ, during Dreamforce on Wednesday, December 8, 3:15 p.m. – 4:15 p.m, Room: Moscone West 2018.
About Cameleon Software
Cameleon Software is the global leader in product design, sales configuration, quotes and proposals software, helping companies to accelerate product and services launches while increasing sales across all channels. Cameleon Software enterprise solutions empower marketing teams to reduce time-to-market for products and services that require advanced personalization and sales teams to improve their performance by reducing the quote-to-order cycle. Cameleon Software provides a solution that bridges the gap between the sales and marketing teams resulting in cost reduction and revenue increase. Cameleon Software is platform agnostic and integrates to leading ERP and CRM systems including Microsoft, Oracle, SAP and Salesforce.com. Founded in 1987 and listed on Euronext Exchange since 1999, Cameleon Software customer base includes leading enterprises in manufacturing, insurance, telco and high tech such as: ThyssenKrupp, CTB, Technip, Gras Savoye, Vodafone SFR, Yellow Pages and IMS Health.
For more information, visit: www.cameleon-software.com and www.salesforce.com/appexchange
About Acumen Solutions
Acumen Solutions helps Global 1000 and government agencies solve their complex business and technology problems on a daily basis. By offering innovative business process solutions, strategy and technology know-how, our experts provide organizations with measurable results. We are recognized leaders in helping our clients weave cloud computing strategy and integration into the fabric of their existing enterprise architecture. In addition to spearheading opportunities in business, our social responsibility commitment enables our employees to become leaders in our communities.
Acumen Solutions is headquartered outside Washington DC with offices across the U.S. and in Europe and has been in business since 1999. Select Acumen Solutions clients include: AAA, American Express, Cigna, Comcast, McKesson, Securities and Exchange Commission, Sonus Networks, Sprint, State of New Jersey, U.S. Health and Human Services, and U.S. State Department. Find out more about us at www.acumensolutions.com.Details
Hypercom “SmartPayments Wynid” hosted payment platform has achieved PCI DSS certification. With this, “SmartPayments Wynid” cardholders are have secure and seamless payment transactions using magnetic stripe, chip or contactless cards. Retailers benefit from the ease and efficiency of the centralized transaction routing system, which enables them to proactively manage card payments from all their points of sale across a network of many different stores. The SmartPayments Wynid hosted solution provides highly reliable, secure network access and unmatched speed for all transaction types.Details
Verint Systems Inc. has announced continued implementations of the end-to-end encryption and recording capabilities in its Impact 360 Workforce Optimization software suite from Verint Witness Actionable Solutions, particularly across global organizations in financial services, retail and other industries that have prioritized data security and a commitment to protecting customer information.
The Payment Card Industry Data Security Standard (PCI DSS) continues to serve as a catalyst for data security in global organizations, while technology serves as a key enabler in attaining compliance. Verint said that its Impact 360 Recording, Impact 360 Quality Monitoring, and Impact 360 Desktop and Process Analytics software helps customers enhance the protection of customer data and recording processes, while adding robust encryption and key management, a secure storage environment, and the option to not record certain sensitive data at all.
The company said that its Impact 360 Desktop and Process Analytics solution comprises a host of unique capabilities that also are helping Verint customers address a critical requirement inherent in PCI compliance: the ability to initiate a halt of recording to avoid the capture of what the PCI Security Standards Council calls Sensitive Authentication Data (SAD)–that is, data for which storage is prohibited by the PCI DSS–and then automatically resume that recording again, via agent desktop events. The option for added web application firewall support covers another key dynamic that is available through Verint’s partnership with Barracuda Networks.
Verint’s call recording, quality monitoring and workforce management software has been successfully tested and validated against the Barracuda Web Application Firewall from Barracuda Networks. With this added option, customers can experience the benefit of an additional layer of defense against such common and complex issues as SQL injections, cross-site scripting attacks, session tampering, and buffer overflows for both internal and external facing applications. Barracuda Networks’ expertise in protection against security vulnerabilities enables Verint customers to be confident in their choice of a Barracuda Web Application Firewall, knowing it has been thoroughly tested with the Impact 360 solutions. While Verint follows the Rational Unified Process (RUP) and other best industry practices in software development, it recommends the use of application firewalls as a best practice to help ensure a secured system and better address new threats and vulnerabilities on an ongoing basis as also recommended in PCI DSS Requirement 6.6 of the PCI DSS 1.2 specifications.
Encryption of sensitive data using industry-standard algorithms continues to be fundamental to enabling compliance with PCI and other regulatory requirements. With strong key management for compliance and security, as delivered by Verint through the RSA Key Manager–a solution that centralizes the provisioning and lifecycle management of encryption keys–Verint customers are experiencing the benefits of simplified security policy deployment and ongoing administration, and the ability for its users to securely move, archive and store data.Details