ACI Worldwide has signed 18 new license agreements for its fraud detection solution in the last 12 months, bringing the total number of ACI Proactive Risk Manager customers to more than 120 worldwide. The company also introduced today a quick and simple online fraud reduction calculator, “www.aciworldwide.com/prmcalculator”, much like a mortgage calculator, that allows financial institutions to determine the effectiveness of their current fraud prevention system.According to Gartner Research, 15 million Americans were victims of identity fraud during a recent 12-month period, while the average identity fraud loss more than doubled in 2006 to $3,257 from $1,408 the year before. The four key crimes that lead to identity theft include Internet fraud (hoax emails that trick users into providing personal data), data compromise (hacks into corporate and government databases that include consumer data), ATM fraud and card skimming. All of these crimes include the theft of consumersÃ¢Â credit and debit card numbers.Details
Moneris Solutions has hired David Magley, former VP/Regional Sales for RBSLynk, as SVP/Regional Sales. In this role, Magley will be responsible for developing, building, and managing a national direct sales team. Magley comes to Moneris with more than 20 years of sales management experience, and nearly 10 years of experience in the payment processing space. He most recently served as vice president, regional sales for RBSLynk in Atlanta. In that position he was responsible for the development of the field sales organization, executing on sales strategies and adding over forty successful managers. Prior to RBSLynk, Magley held numerous sales management positions with The Atrium Door, Ohio Jambs Inc, and Armstrong World Industries. Magley has a BA from The University of Kansas. Moneris Solutions is an electronic transaction processor with assets in excess of $700 billion.Details
Ingenico and Sagem Securite are currently negotiating a collaborative
agreement to become an industry leader in electronic payment. The
potential agreement would distribute 25% of Ingenico shares to Sagem
Securite. Sagem Securite’s electronic payment terminals businesses grew
28.3% from 2003 to last year, when sales volumes were at 120 million
euro. Of this volume, Western Europe generated 50%, 9% in Asia Pacific,
18% in the Americas and 23% in EMEA. Ingenico reported a 1H07 sales
volume of 260.1 million euro, 7.3% over 2H06. Ingenico had a total
2006 sales volume of 506 million euro with an operating profit of EUR33.1
Credit scoring king Fair Isaac reported that second calendar quarter revenues declined slightly to $205.8 million, compared to the prior year period. Net income declined more than 8% year-on-year to $23.8 million. Scoring Solutions revenues increased 8% to $47.2 million in the quarter, primarily due to an increase in revenues from risk scoring services at the credit reporting agencies and the “FICO Expansion” score. Professional Services revenues declined 4% to $35.3 million in the quarter due to a decline associated with industry consulting, fraud, and collections and recovery implementation services, offset by an increase in revenues derived from customer management implementation services. Strategy Machine Solutions revenues dipped 1.4% to $113.2 million due to the divestiture of the mortgage product line last quarter and a decline associated with customer management and originations products. Analytic Software Tools revenues decreased 14.8% to $10.1 million in the quarter due to an decrease in revenues generated from sales of the “Model Builder” and “Blaze Advisor” products. The Company expects revenues for third calendar quarter to be approximately $200 million. For complete details on Fair Isaac’s latest results, visit CardData ([www.carddata.com]).
FAIR ISAAC REVENUE HISTORICAL
2Q/06: $207.1 million
3Q/06: $207.3 million
4Q/06: $208.2 million
1Q/07: $201.0 million
2Q/07: $205.8 million
Source: CardData (www.carddata.com)
Smart card specialist Gemalto reports that second quarter revenue rose 6% to $545 million as it completed its first year as a combination of Gemplus and Axalto. However, revenues for smart payment cards was flat at $133 million compared to 2Q/07. But, deliveries of smart cards and modules were up by 10%, driven by on-going EMV4 deployment and card renewal programs, primarily in Europe. Revenue derived from related personalization services also increased. However, price pressure in certain EMV markets offset those gains. Gemalto’s POS terminal second quarter revenues soared by 34% to $20 million. The growth in this segment was supported by the introduction of a new range of products developed on a common, highly adaptable new technology platform. During the quarter, the health insurance company Allgemeine Ortskrankenkasse awarded Gemalto with a large contract to supply and personalize 35 million electronic healthcards for German citizens. The Company also delivered the first electronic driver licenses in Mexico from the 900,000 unit order received earlier in the quarter. For complete details on Gemalto’s latest performance visit CardData (www.carddata.com).Details
University of Nebraska Federal Credit Union have selected Pemco Technologies for Visa credit and debit processing and TruService Community Federal Credit Union has selected Pemco for Visa credit/debit card processing and awards program services. The University of Nebraska FCU has assets of $54.6 million and close to 10,000 members. TruService Community FCU holds assets of $41.4 million and more than 6,000 members. Pemco Technologies provides innovative payment solutions to the financial industry including credit signature processing, debit signature processing, PIN-based processing, ATM acquiring and switching, cardholder award programs, fraud management/ detection/prevention, and gift card programs.Details
For June 2006, credit card borrowing fell by .1 billion GBP in the UK.
This is a reflection of weakening retail sales and is part of a trend of
unsecured card spending over the past two years. The total credit card
spending was GBP 6,983,000 for the month, a 4% decline since last
year, and a net lending decrease of 73million GBP.
June’s gross mortgage lending of GBP21.5bn, the highest figure ever, was a
reflection of strong re-mortgaging activity. This was, however, only 5%
higher than a year earlier, suggesting that in real terms, lending
growth is slackening.
Hedge fund Pershing Square is continuing its proxy battle to derail Ceridian’s proposed sale to Fidelity National Financial and private equity firm Thomas H. Lee. Pershing wants to unseat the entire board of Ceridian. Pershing Square says the deal is way undervalued and the Company is mismanaged. Ceridian yesterday responded saying Pershing Square has failed to date to present any economic proposal for the Company and its stockholders. Ceridian says Pershing Square has resorted to personal attacks. The Board recommended that Ceridian stockholders approve the pending merger and receive $36 per share in cash and vote for the Company’s slate of directors who will work to close the transaction as quickly as the agreement permits. Pershing Square owns about 15% of Ceridian.Details
In response to recent ATM and card fraud, European banks and ATM
deployers have arranged for a security conference in October, 2007. The
“Sec 7 ATM Security Conference” was jointly initiated by ATMIA Europe
ATM industry association and Retail Banking Research (RBR). The
initiative will allow for the institutions and companies to share
and solutions for prevention of theft and fraud, much of which is
be the product of organized crime and terrorist groups. Discussions will
include case studies with speakers from banks including HSBC, Swedbank
and Ceska Sporitelna and independent ATM deployers such as Australia?s
Customers. Visa, MasterCard, and the law enforcement community will
have representatives present as well.
Online Resources Corporation will acquire billing service provider Internet Transaction Solutions for $45 million in stock and cash. ITS has over 150 clients and processes more than 5 million payments per year. The company is a leading provider of web, IVR and call center payments to the receivables management and utility industries. The ITS acquisition extends Online Resources’ commitment to the BSP business it entered through the acquisition of Princeton eCom in 2006. Online Resources expects that ITS will contribute approximately $7 million in revenue to its full year 2007 results and will be slightly accretive to core net income per share.Details
Western Union will now be available at Farmacias Benavides pharmacies
at 587 locations in 16 states and 110 cities in Mexico. Many of the
are open 24 hours a day, 7 days a week. With this announcement from WU
& Grupo Elektra, whom offers the company’s remittance services through
2,000 agent locations in the country, WU will be expanding its presence in
Mexico. Grupo Elektra is retailer and financial institution operating at
and Salinas y Rocha stores through more than 1,700 Banco Azteca branches.
Western Union operates through a network of over 312,000 Agent locations
in over 200 countries and territories around the world.
Capital One Financial Corp. and Yahoo! Shopping have partnered to create “Capital One Saving Zone”, a portal on Yahoo! Shopping that offers exclusive deals on select merchandise to Capital One cardholders Capital One cardholders can receive up to a 40 percent savings on already discounted items, as well as an additional 10 percent off everything they purchase on the site using their Capital One credit card. Each week the Capital One Saving Zone will feature 10 new “deals of the week,” offering discounts on designer items for men and women that can be found on Yahoo! Shopping Yahoo! Shopping users who do not have a Capital One credit card and are interested in purchasing items at the discounted rate will be able to sign up for the credit card at the Saving Zone.Details