Atlanta-based S1 Corporation has decided to integrate PassMark Security’s authentication security system with its retail and small business online banking solutions. S1 will provide the enhanced authentication service to its nearly 1,000 financial institution customers. The PassMark system includes both “Two-Factor Two-Way Authentication” and real-time, risk-based transaction analysis and scoring to protect log-ins and transactions. Installed or being deployed at more than 20 financial institutions, the PassMark system will be protecting more than 20 million online users by the end of the first quarter.Details
Retailer Truworths Limited has implemented Fair Isaac’s “Strategy Science
for Credit Line Management” to help boost the profitability of its credit
card portfolio. “Strategy Science” is designed
to improve business performance by expanding the application of
analytics beyond predictions to actual decisions, and helps businesses
quickly design, test and refine individual account strategies. Truworths
Limited operates through two hundred and fifty seven stores in
South Africa and fourteen franchise operations in Africa and the Middle East.
Exstream Software has received positive reports from NORSIK after using
Exstream’s “Dialogue” enterprise personalization software to produce
statements, invoices, insurance policies and other communications for
its customers. NORSIK reports it has streamlined internal processes,
improved effectiveness through integrated marketing campaigns and
significantly reduced application development time and plans to use more
of Dialogue’s capabilities to extend solutions it provides clients. In
particular, the company will further capitalise on Dialogue’s integrated
marketing and campaign tracking capabilities. NORSIK is the leading
producer of cards and card-related services, including the intelligent distribution of its products, for the postal, banking and financial services industries in Norway. Exstream Software provides a single platform to manage higher quality, fully personalised communications of all types for delivery through batch, real-time and interactive channels.
Marriott and Chase have added a “Premier VISA Signature Card” to the “Marriott Rewards” program. First USA upgraded the “Marriott Rewards VISA” program to the “VISA Signature” level in June 2002. First USA was part of Bank One which later merged with Chase. Under the new “Premier VISA Signature” program, cardholders earn five points for every dollar spent at Marriott, two points for every dollar spent on qualified dining, airline and rental car card purchases, and one point for all other card purchases. “Premier” cardholders also receive 15,000 bonus points after their first card purchase; a free night certificate; 15 nights toward “Elite” status every year; plus other status benefits. (CF Library 6/12/02)Details
Axalto announced it is providing Vakifbank with a complete EMV (Europay
MasterCard Visa) package including data preparation, multi-
application cards supply and a turnkey personalization solution.
Vakifbank also selected Axalto to provide its personnel with advanced
corporate badges to ensure identification and secure access to its
networks and premises. The Axalto badge solution combines logical and
physical access. Vakifbank’s employees need only one card to access
their buildings, park their cars, and log on to their networks.
Vakifbank was the fifth largest bank in Turkey with an asset size of
Charge-offs for credit card-backed bonds in the U.K. continued to
deteriorate during the fourth quarter, hitting a record 5.8%, compared
to 4.5% one-year ago and 5.3% for the prior quarter. Delinquencies
remained at 3.4% for the fourth quarter. According to FitchRatings,
several trusts experienced an unusually large spike in charge-offs in
December, higher than any normal seasonal trend. The rating firm also
noted that delinquencies on a monthly basis posted a slight recovery
in October followed by a deterioration in November and to a lesser
extent in December. Meanwhile, the monthly payment rate on credit card
ABS fell significantly in the fourth quarter to 15.9%, compared to 16.9%
for the third quarter. This is the lowest level since December 2004.
FitchRatings says the MPR appears to have been affected by much reduced
balance transfer activity. The Fitch yield index stood at 19.3% at the
end of December, down from 19.6% at the end of September.
Fourth quarter gross dollar volume among the nation’s ten largest issuers grew 11.6% year-on-year with aggregate volume of more than $421 billion. Bank of America posted the sharpest rise of more than 43%, while Discover lagged at the bottom of the top ten with a 1.6% growth rate. Capital One, Wells Fargo, and MBNA posted higher than average gains in volume, according to CardData ([www.carddata.com]).
4Q/05 GROSS DOLLAR VOLUME
($ billions; ranked by outstandings)
Rank/Issuer 4Q/05 4Q/04 CHNG
1. Chase $79.6 $75.3 + 5.7%
2. Citi $75.8 $71.6 + 5.9%
3. MBNA $62.1 $54.0 +15.1%
4. BofA $39.0 $27.2 +43.4%
5. Cap One* $21.2 $17.8 +19.1%
6. Discover $26.1 $25.7 + 1.6%
7. AmEx $93.0 $83.4 +11.5%
8. HSBC $13.5 $12.5 + 8.0%
9. WaMu $ 4.8 $ 4.7 + 2.1%
10. Wells $ 6.2 $ 5.2 +19.2%
TOTAL $421.3 $377.4 +11.6%
* Cap One is purchase volume only
note: some issuers include international
SOURCE: CardData (www.carddata.com)
Ecobank has recently introduced an extensive ATM network supported by
NOMAD Software. The bank has set up a centralized processing platform at
its head office
in Togo. This platform has been designed to process transactions from a
geographically disparate customer base spanning Benin, Burkina Faso,
Cameroon, Cote d’Ivoire, Mali, Senegal and Togo. All transactions are
routed via a dedicated satellite infrastructure to ensure that all its
customers could access their funds, wherever and whenever required.
Ecobank is currently issuing a network-only debit card, but plan to
develop a card which can be used internationally.
Independent ATM deployer and operator Cashbox plans to go public and
trade on the AIM Market of the London Stock
Exchange. At year-end 2005, Cashbox owned and operated 845 ATMs in the
UK, 89% of which are located in corporate locations with the remainder
in commercial locations and independent retailers. Cashbox has planned a
further 583 ATM installations and believes there is potential to
install an additional 5,510 ATMs. The UK is the third largest ATM market
in Western Europe, representing over 16% of installations in the region,
and the eighth largest ATM market in the world.