TX-based Austin Logistics is making its “NSFGuard” predictive analytics software solution for payment risk management available to credit card issuers. NSFGuard’s predictive analytic approach does this by attacking the float decisioning problem with greater precision and accuracy than traditional methods such as rules engines, decision trees and home-grown solutions. NSFGuard, on the other hand, scores each payment, independent of individual account risk assessment. Austin Logistics is a leading provider of next-generation predictive analytic and business intelligence software solutions that anticipate customer value and behavior to drive more profit from every customer interaction.Details
Citibank has become the first bank in Germany to offer a free SMS-service for checking accounts, credit cards and custody accounts. With Citi Alerts customers know within a few minutes after the transaction that their salary has arrived in their account, or there has been a direct debit. Customers can choose from more than 20 different kinds of notifications.Details
American Bank Note Holographics reported second quarter revenues of $8.4 million, an increase of 22% over 2Q/05. Net income of $1.0 million was double the year ago period. The increase in net income in the second quarter principally resulted from the increased revenue, including the “VISA HoloMag,” “VISA Dove” and “Mini Dove” revenue and the reduction of costs as a result of a negotiated settlement with a vendor. ABNH says $2.3 million of “VISA HoloMag” shipments that were completed and invoiced during the first quarter were not recognized as revenue in that quarter as collection of those amounts were not considered probable at that time as a result of the VISA decision to discontinue their “HoloMag” implementation. Approximately $0.9 million of those amounts were collected and recognized as revenue in the second quarter. During the second quarter, the Company developed a second generation “HoloMag” product that incorporates an electro-static dissipative agent that helps to insulate a vulnerable terminal from electro-static discharge. For complete details on American Bank Note Holographics second quarter performance visit CardData ([www.carddata.com]).
Seattle-based Pemco Technologies has signed UT-based SummitOne CU for VISA credit and signature debit processing as well as Pemco’s “Extra Awards” card loyalty program. SummitOne Credit Union was founded as Dee Hospital Credit Union in 1954 in order to serve the needs of doctors, nurses, administration, and staff. Pemco Technologies provides innovative payment solutions to the financial industry, including credit and debit card processing, ATM acquiring and switching, cardholder award programs, fraud management, and gift card programs.Details
Minneapolis-based UnitedHealth Group is gearing up to launch a fully integrated health and payment card that will offer access to portable health records, HSA/FSA financial accounts and a line of credit. The card will be rolled-out broadly in early 2007 through its Exante Financial Services business. UnitedHealth Group has 70 million customers with 20 million magnetic strip ID cards issued over the past three years. The new integrated card will provide real-time confirmation of a patient’s benefits coverage via the UnitedHealthcareOnline provider, access to an individual’s “Personal Health Record,” consumer access for the first time to multiple health accounts (i.e. Health Savings Account, Flexible Spending Account) using the same card. Consumers will also be able to apply for a line of credit attached to the same debit card.Details
GE Money has promoted the CEO of its Australia and New Zealand business to head its worldwide marketing. Thomas Gentile, a nine-year GE veteran who also formerly headed GE Money in France, has been named SVP/Global Marketing. During his tenure in Australia, Gentile generated double-digit growth creating $26 billion in assets, and an annual net income of more than $300 million. A new CEO of GE Money Australia and New Zealand will be named shortly. Last month GE Money reported a global profit of $880 million on revenues of $5.3 billion for the second quarter. For complete details on GE’s second quarter performance, visit CardData (www.carddata.com).Details
Atlanta-based S1 Corporation has sold its FRS business, a division that provides enterprise risk and regulatory compliance solutions, to The Carlyle Group and Kennet Partners. S1 Corporation (Nasdaq: SONE) is a leading global provider of customer interaction solutions for financial and payment services. FRS provides financial institutions worldwide with regulatory reporting, compliance and operational risk management solutions that enable them to increase operational efficiency, reduce costs and mitigate risks.Details
The Banco del Estado de Chile has ordered 186 “ProCash 2100” and “ProCash” 1500 ATMs from Wincor Nixdorf’s partner IBM. The bank will see an increase in its installed base to 665 units after the installation of the new equipment. Including the latest installation at the Banco del Estado de Chile, a country-wide installed base of almost 1300 Wincor Nixdorf systems has been achieved. About 60% of all ATMs
installed at the bank are Wincor Nixdorf systems.
EnterCard International has signed a long term agreement with MasterCard to promote and advance the use of MasterCard in the Nordic region. The total number of “EnterCard MasterCard” branded cards in circulation broke the 500,000 barrier in June. Some of the cards include the “Swedish ForeningsSparbanken’s Charge & Credit Card,” the “Swedish Golf Association’s Membership & Credit Card,” the “Norwegian LOfavor Card” and the credit cards of Norwegian Sparebank1.Details
AAA Financial Services says Americans are having problems using U.S.-issued credit and debit cards with U.K. merchants. Since the U.K. is now 100% “Chip & PIN” some merchants are not aware that a mag stripe card will work in a “Chip & PIN” terminal. Other merchants may be reluctant to accept only a signature. The AAA encourages Americans to be more persistent with merchants to complete the transaction with a signature, instead of a PIN. Even though the PINs for U.S. debit and credit cards are not recognized at the point of sale, they will still work at ATMs overseas. More than 130 million “Chip & PIN” cards have been issued in the U.K. since the beginning of the roll-out in October 2003 (this includes more than 65 million debit cards and 65 million credit cards), according to CardFlash International.Details
Level Four Software announced that its flagship ATM testing
product, “ATM TrueTest,” can now be configured to support all major
migration paths being adopted by ATM network operators moving from OS/2
to MS Windows technology. Level Four has identified two main
approaches that financial institutions are taking in migrating their ATM
software to the MS Windows operating system. The first approach is represented by banks taking a low-risk approach to updating their ATM software by migrating to a multi-vendor Windows platform, whilst, in the short term, retaining existing NDC/912 software architecture and host communications. The second approach involves taking the opportunity of the migration to Windows to replace long-standing ATM software applications with new applications tailored to the banks’ specific needs.
The FTC has scheduled three days of public hearings in early November entitled “Protecting Consumers in the Next Tech-ade”. The event will bring together experts from business, government and technology sectors, consumer advocates, academicians, and law enforcement officials to examine technologies that have emerged and to explore technologies that are currently evolving. The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them.Details