APWG & ABA & FSTC to Sponsor CeCOS

The Anti-Phishing Working Group, American Bankers Association and the Financial Services Technology Consortium have announced a joint sponsorship of the inaugural “Counter-eCrime Operations Summit,” a conference for focusing on the management of electronic crime events to be held May 30 and 31. The summit in San Francisco will focus on operational challenges and the development of common resources for the first responders and forensic analysts who confront the ecrime threat every day. “CeCOS 2007” will hold presentations, Round Table discussions and colloquia exploring three distinct operational dimensions: detection and response operations, shared resources and industrial policies that affect the work of the responder. Presenters from industry, private law enforcement companies and public law enforcement, government agencies will review case studies offering instruction in the skills exercised, expertise recruited and tools employed to resolve ecrime events and leverage the information exhaust in those cases for further advantage in subsequent forensic applications.

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ABS 4Q/06

Charge-offs for credit card-backed bonds in the U.K. hit a new peak
during the fourth quarter to 7.2%, compared to 5.80% one-year ago and
6.9% for the prior quarter. Delinquencies were fairly stable and even
fell slightly from 3.7% at the end of September to 3.6% at year-end.
According to FitchRatings, the driving factor behind the quarterly
improvement in delinquency was a fall in the delinquencies in the Pillar
and Arran trusts, and to a much lesser extent, improvements from the
Gracechurch, CARDS I and Sherwood trusts. While delinquencies showed
some positive signs, falling back slightly over the quarter, “Individual
Voluntary Arrangements” and bankruptcy cases continue to increase. It is
possible that the high number of personal insolvencies is continuing to
have a significant impact on charge off numbers as
these are quickly reflected as losses. The monthly payment rate fell
from 16.4% at the end of 3Q/06, to 16.2% by year-end. The yield also
fell from 18.9% at the end of September to 18.4% in December.

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AmEx-Delta Tweak Their Co-Brand Cards

American Express and Delta have beefed-up the “Delta SkyMiles Card” program. Consumer and small business cardholders can now earn more bonus miles depending on the amount of purchases made during the year. Plus, “Gold” and “Business Gold” cardholders will automatically receive a $99 domestic companion certificate upon renewal and “Platinum” and “Business Platinum” cardholders will automatically receive a complimentary domestic companion certificate upon renewal. Delta and AmEx also offer “Platinum” and “Platinum Business” cardholders the ability to earn 10,000 “Medallion Qualification Miles” from $25,000 in annual spend and an additional 10,000 “MQM” for $50,000 in annual purchases. Additionally, the program offers “Always Double Miles” on every eligible dollar they spend on Delta Air Lines purchases, as well as at supermarkets, gas stations, drugstores, home improvement stores, and more, except for “Options.”

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UFJ NICOS Launches MasterCard Smart Data OnLine

UFJ NICOS and Mastercard have signed agreements to provide customers
with MasterCard “Smart Data OnLine”, a web-based reporting
application from MasterCard. “SDOL” is designed for corporations looking
to reconcile their expenses and eliminate time-consuming paperwork. The
application will provide UFJ NICOS’ customers with a tool to better
organize and manage financial data from MasterCard commercial card
programs. “SDOL” facilitates information management strategy for over
42,000 businesses worldwide in providing strategic
information-management capabilities. MasterCard Worldwide serves
consumers and businesses in more than 210 countries and territories.

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myTruston ID Theft Fighter Unveiled

Truston has introduced “myTruston”, a web-based identity theft protection tool service designed to help victims and aid in preventing and recovering from ID theft. “MyTruston”‘s credit inspecting services guide members through the step-by-step procedures required to request their own credit report, provides updates of when individuals should receive their free credit reports as well as details about when to follow up on credit files and other important correspondences. Once credit reports are obtained, members receive detailed instructions and information on how to better understand them and obtain free credit reports every four months, instead of being charged an annual fee requested by most credit monitoring services.

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Trintech Group Partners with Prodiance

Financial software provider Trintech Group has announced a partnership
with the Prodiance Corporation, a financial spreadsheet solution provider.
The partnership further enhances Trintech’s value proposition for
financial departments seeking to optimize compliance processes,
streamline operations and reduce risks. The controlled spreadsheet
service is a vital alternative to uncontrolled financial spreadsheets,
as they are error prone and lack important IT controls. Of public
companies, 92% still use the uncontrolled financial spreadsheets.
Trintech Group Plc is a global provider of financial software and
services specializing in reconciliation work-flow and revenue
enhancement. Prodiance Corporation is a global provider of comprehensive
business solutions.

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NLPC Blasts BofA’s Immigrant Card

Bank of America continues to take flak on its program of marketing credit cards to individuals who do not have a Social Security number. The National Legal and Policy Center says credit is not a right. It is a privilege. By terming ‘discriminatory and unfair’ a simple step to determine if someone is legally in this country, BofA is cleverly making concerns over erosion of rule of law and national security look as though they are acts of denial of basic human rights. The NLPC further said by refusing to consider a credit card applicant’s immigration status, it is sending a message to future illegal immigrants, especially from across the Mexican border, ‘Come and get your credit cards.’ The fact that the bank is not explicitly targeting illegal immigrants doesn’t mean it isn’t aware that many applicants will be illegals.

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Nedbank to Offer Gemalto USB Tokens

Nedbank is utilizing Gemalto’s secure online transaction solution for
its clients. The Gemalto USB token embeds the software that
automatically sets up once the user connects the device to their PC. The
certificates implemented in the token allow Nedbank clients to
digitally sign transactions and in the future, electronic signing of
documents will be available as well. Commercial rollout has already
started and Nedbank corporate clients have been benefiting from secure
access to financial services through the “Netbank Business” Internet
channel since the end of 2006. Deployment of all 80,000 tokens will be
completed by mid-year.

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PaySimple Teams with Buz Software

Denver-based PaySimple has entered into a partnership with Buz Software, enabling businesses using Buz Software for customer database management to accept payments via credit/debit card or ACH direct debit when integrated with PaySimple’s virtual gateway. Buz Software is eligible to receive an ongoing revenue share on all transactions processed by its customers. PaySimple completely manages the merchant processing component, absorbs all financial risk, and provides sales and marketing support as well as complete service and technical support for the system. PaySimple is a provider of payment management solutions. Buz Software provides data management software to businesses.

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