U.S. Bank Completes ATM Conversion

U.S. Bank has fully converted its fleet of nearly 5,000 U.S. Bank ATMs to the Windows 7 operating system. U.S. Bank is one of the first major banks to complete the conversion of its entire ATM fleet. Other ATM owners in the industry have announced that they plan to purchase extended support from Microsoft while they complete their conversion. U.S. Bank chose to upgrade the operating systems on its entire fleet by the April 2014 deadline as part of an overall strategy that included updates to meet new technology enhancements such as ATM deposit automation, compliance with enhanced accessibility rules from the Americans with Disabilities Act (ADA) and replacement of older ATMs in the fleet. Today, the average age of a U.S. Bank ATM is five years.

Discover and the NHL Arrange for Surprise Stanley Cup Visit

Discover partnered with the National Hockey League (NHL®) today to surprise members of the Midshipmen with the Stanley Cup®, the most revered trophy in professional sports. The Midshipmen, who finished this season at 29-7-2 and ranked eighth nationally, were treated to a celebratory reception this afternoon at McMullen Arena in the Brigade Sports Complex. Navy hockey team members, who were holding an informal scrimmage at the arena, were treated to a surprise visit from the Stanley Cup. The surprise did not end there, as players from the Navy Youth Hockey league, along with their families, were invited to the arena to join the celebration where pizza and beverages were served and the Navy youth hockey players had the chance to skate with some of the Midshipmen players. Unbeknownst to them, they too would be getting a visit with the Stanley Cup.

U.S. NIM 2013

The net interest margin (NIM) for major U.S. credit card portfolios has been edging down since mid-year 2013, according to CardData. Capital One, the NIM leader among major U.S. issuers, posted a 35 basis point decline in NIM for the first quarter. Capital One’s U.S. NIM for 2013 was 13.1%. Citibank’s NIM declined 31 basis points in the first quarter for its domestic card portfolio. Citibank’s NIM for 2013 was 9.7%. The Chase NIM for U.S. cards dropped 12 basis points in the first quarter. Chase’s NIM for last year was 9.7%. Meanwhile, American Express’ U.S. NIM was flat in the first three months of this year. For 2013 the AmEx U.S. NIM was 8.9%. The Discover NIM for 2013 was 10.1%, the second highest among the top issuers. Discover will be releasing its first quarter report next week.

Amex Serve Now Sold at Walmart

American Express today announced its full service reloadable prepaid Account, American Express Serve, will be available for purchase at 4,100 Walmart stores nationwide. These Walmart stores will also become a part of Serve’s free cash reloading network. This means Serve customers can now add cash to their Account for free across 19,500 U.S. Walmart, CVS/pharmacy®, and participating 7-ELEVEN® locations.

Fifth Third Posts 1Q/14 Net Income of $318mm

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fifth Third Bancorp reported first quarter 2014 net income of $318 million versus net income of $402 million in the fourth quarter of 2013 and $422 million in the first quarter of 2013. Net income available to common shareholders was $309 million compared with $383 million in 1Q/13, and $413 million…

Domino’s Adds Google Wallet

Domino’s Pizza is adding even more convenience to its customer experience by integrating Google Wallet with its Android ordering app. Domino’s customers who have an Android device can now pay for their online orders using Google’s digital wallet. Domino’s customers who place an online order of $10 or more using the Android ordering app and pay by selecting the “Buy with Google” button at checkout will receive a free order of Domino’s new Specialty Chicken, now through June 15.

NetSpend, Western Union Launch Co-Branded Prepaid Card

NetSpend, a TSYS Company and prepaid cards, partnered Western Union to develop an innovative co-branded prepaid card, available later this year. With approximately 68 million Americans are financially underserved without access to traditional forms of banking, many are turning to prepaid cards to spend, save and manage their money. With nearly 18% currently underbanked, NetSpend and Western Union will jointly develop the co-branded card’s custom features through NetSpend’s proprietary, fully integrated payments platform, and plan to deliver the card through a portion of their combined distribution networks later this year. NetSpend maintains an extensive network of 70,000 distribution locations and 130,000 reload points. Western Union offers its services in the U.S. through a network that includes banks, national retail and grocery chains and independent locations.

MasterCard Nominates Additional Board Members

MasterCard Incorporated announced that its Board of Directors has nominated Julius Genachowski and Merit Janow for election as independent directors at the company’s June 3, 2014 annual meeting of stockholders. Genachowski is managing director and partner at The Carlyle Group and served as Chairman of the U.S. Federal Communications Commission. Janow serves as Dean of Columbia University’s School of International and Public Affairs and has been a professor and served in various leadership positions at Columbia for the past 18 years. Janow served as a member of the Appellate Body of the World Trade Organization, following her tenure as Executive Director of the International Competition Policy Advisory Committee of the U.S. Department of Justice and Deputy Assistant U.S. Trade Representative for Japan and China.

Discover Financial Services Announces $3.2 Billion Share Repurchase Program

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Discover Financial Services announced that its Board of Directors has approved a new $3.2 billion share repurchase program and increased the quarterly common stock dividend from $0.20 to $0.24 per share. This replaces the prior $2.4 billion share repurchase program. The company expects to make share repurchases from time to time…

NCR Announces Latest Client Expansion

Bricks & Minifigs is now the largest aftermarket Lego store in the country with seven stores, including five family-owned franchise locations and two corporate locations throughout the United States. In need of an integrated mPOS system with sales, inventory and customer engagement capabilities from a provider that understands the retail space, they signed with NCR to deploy its Silver POS solution. Employees find that helping customers is easy with Silver since current inventory and customers’ purchase histories are both just a click away. The mobile POS also streamlines operations and helps the retailer operate with real-time data and customer information just as an e-commerce site does. Bricks & Minifigs uses the NCR solution to manage their email marketing campaigns and loyalty programs.

Bank of the West renews First Data contract

First Data will continue to provide debit processing, ATM driving and network services through its card processing platform and Star Network to Bank of the West, an FDIC-insured bank serving customers for more than 135 years. This renewed five-year agreement will also expand the relationship. First Data has provided debit processing and network services to the bank since 1996, and has driven its ATMs since 2008. With this expanded agreement, First Data will also provide credit processing.

Fico introduces analytics-based portfolio profitability service

Fico announced The Fair Isaac Advisors P&L Insight Service, giving financial services organizations an analysis of their portfolio trends and profit drivers, along with portfolio-level profitability forecasts and what-if scenarios for strategic planning purposes.Unlike traditional P&L assessments, the P&L Insight Service examines potential impacts across the credit lifecycle, including marketing, originations, customer management and collections. FICO’s advisors can rapidly generate actionable insights using a proprietary FICO tool with built-in forecasting models that can be tuned to the particular dynamics of a bank’s portfolio. Advisors convert 12 to 24 months of portfolio-level data into coherent business intelligence, provide automated trend analysis of profit drivers, deliver actionable and quantifiable recommendations, and assist with strategic planning activities for short-, medium-, and long-range objective-setting.