Employers added 144,000 workers in August, and the unemployment rate was little changed at 5.4%, the Labor Department reported this morning.Details
Fair Isaac unveiled the first integration of products following its acquisition London Bridge Group. Fair Isaac’s “Placement Optimizer” service and “UniScore” service will now be offered as part of the “BridgeLink” network. “Placement Optimizer” is a custom modeling solution that scores accounts and provides placement recommendation for each account. It determines the recovery path – agency placement, attorney placement, sales or internal recovery – that is most likely to maximize netback. “UniScore” is a Web-based solution that delivers a predictive pooled recovery score to enhance collection efforts. It prioritizes accounts not simply according to the probability of payment, but according to the expected collection amount over a given outcome period. The “BridgeLink” network, is an Internet-based eServices solution in the former London Bridge services suite that automates business transactions between lenders and their service providers by enabling users to exchange information, request, complete and manage transactions.Details
Bank One has introduced a checking account with a debit card for high school students. The new “High School Checking” account is designed for students age 15 to 18 and requires the student’s parent or legal guardian to sign on as a co-owner of the account. The teen account is available at all Bank One locations nationwide. “THE ONE Card,” Bank One’s VISA check card, is also included featuring daily POS limits and restrictions on certain merchant categories. There is no monthly service fee as long as the parent or legal guardian maintains an eligible Bank One checking account and until the student turns 19. Bank One also offers a similar account for college students. .Details
The momentum in bankruptcy filings is slowing as filings in July declined 3.6% year-on-year, and 4.4% sequentially. One-year ago, bankruptcy filings were up more than 6% month-to-month. During July, 133,390 filings were made compared to 138,266 for July 2003. The total number of bankruptcies filed in the 12-month period ending June 30th, was 1,635,725, down 0.9% from a year ago. For the second quarter of this year total filings were down 0.4% to 421,100. The decline for the first half of this year is the first drop in consumer bankruptcy filings since 2000.
Monthly Filings Historical
Jul 03: 138,400
Aug 03: 138,266
Sep 03: 127,079
Oct 03: 148,044
Nov 03: 131,921
Dec 03: 113,383
Jan 04: 114,737
Feb 04: 124,719
Mar 04: 152,567
Apr 04: 145,543
May 04: 136,509
Jun 04: 127,742
Jul 04: 133,390
Source: CardData (www.carddata.com)
The results of a multi-year European Union funded research project into data mining methods is now commercially available in the U.S. for financial institutions. Numerical Algorithms Group has released “Data Mining and Cleaning Components v2.0,” the first commercially available data mining application development toolkit that uses results from a three-year “EUREDIT” project, among other advances in data mining techniques. Features of “DMC 2.0” include enhanced data cleaning to resolve the problems of missing, invalid or incomplete data; advances in outlier identification to determine which datasets are suitable for analysis; newly memory-efficient multivariate statistical methods that have been the traditional core of data mining techniques; and, a wide range of added functionality for machine learning and pattern recognition. NAG is a global collaborative network of 300+ computer scientists and mathematical experts.Details
MBU has licensed key components of ACI’s “Commerce Framework” to support its card operations business and to meet EMV mandates, with full deployment expected by December. MBU is utilizing ACI’s “BASE24” software, “Card Management System,” and “Smart Chip Manager.” MBU was created by 27 Croatian banks in 1994 to develop a common bank card operations infrastructure. Today MBU works with more than 17 banks and has issued more than one million cards. With new cards being issued at a rate of around 350,000 a year. MBU also designed, built and installed
MBUNET, the country’s leading ATM and POS terminal network. With EMV mandates fast approaching, MBU required support to ensure that
its network of 540 ATMs and 2,700 POS terminals, as well as its card
issuing system, complied with the January 2005 EMV deadline.
VISA and Hilton HHonors have launched a sweepstakes to win a VIP trip to “Super Bowl XXXIX” and a 500 bonus point incentive for booking a Hilton stay online. Visa and Hilton HHonors members can win a chance for the trip and the bonus point incentive when using a valid Visa card at any Hilton Family hotel in the U.S. Four tickets to the Super Bowl, VIP hotel accommodations, and tickets to the NFL Experience and NFL Tailgate are included in the grand prize. 10 Hilton HHonors members will be entered to win two VIP tickets to their NFL team’s 2005 home opener game when using a Visa card at a Hilton Family hotel. Hilton HHonors is a guest reward program, giving frequent travelers a quicker way to gain rewards. Members enrolled in the program can earn HHonor points and airline miles for the same stay at more than 2,500 participating hotels including Hilton, Conrad, Doubletree, Embassy Suites Hotels, Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn, Hilton Grand Vacations Club, Homewood Suites by Hilton, and Scandic hotels worldwide.Details
KBC Bank has implemented DATA4s'”PINPOINT” technology to monitor
and screen four million accounts on a daily basis. The system is
implemented for batch processing, yet highly responsive through the
outline report, alerts and exceptions together with comprehensive
analysis, which are available at the start of day for the six
investigators of the AML unit. In the financial services arena, “PINPOINT” addresses, amongst others, credit card fraud, ATM/debit card fraud, money laundering, terrorist financing, and Internal fraud.
DATA4S operates from its offices in Leuven.