ACI Worldwide announced the availability of Prognosis 10 for Payments, developed by Integrated Research and powers ACI Payments Service Management to deliver integrated performance management for ACI payments and fraud management environments. Cloud-enabled Prognosis 10, the next generation of this flagship payment service management solution, provides new options for in-depth monitoring and analysis of transactions, applications, IT infrastructure and payment devices to deliver deep business intelligence. Capabilities include mobile access, an intelligent 360⁰ view across the entire payments ecosystem and business Insight to understand and react immediately to potential issues.
Fiserv announced that its Vantage Risk and Budgeting Manager application is available as a hosted software-as-a-service (SaaS) solution via the Intelligent WorkplaceSM web portal. Vantage Risk and Budgeting Manager via Intelligent Workplace from Fiserv efficiently integrates risk and budgeting processes into a performance management framework to provide a unified view of the key data needed to manage business. It links interdependent business functions – asset/liability management, budgeting and planning, management reporting – to help banks and credit unions make better decisions based on powerful insights into business performance. Vantage Risk and Budgeting Manager gives other managers the means to collaborate and provide input for their specific budgeting responsibilities through its distributed budgeting capability.
The #1 credit card issuer in the U.S. (based on outstandings) and the #1 global Visa issuer (based on consumer and business card sales) posted an 11% gain in credit card purchase dollar volume and a 14% gain in merchant processing volume in the fourth quarter.
At year-end, Chase had 65.3 million open credit card accounts and 32.3 million active credit card accounts (or 50%). Chase opened 2.4 million new credit card accounts in the fourth quarter (59% via online), but the gross number of accounts only grew by 300,000. For the full-year credit card purchase dollar volume rose 10% over 2012 with $419.5 billion. In the fourth quarter purchase dollar volume increased 11% to $112.6 billion.
Clinkle Corporation announced the appointment of Mike Liberatore as chief financial officer. Liberatore joins the company from PayPal, where he served as senior director of large enterprise finance and the North America financial planning and analysis (FP&A) group. Earlier, Liberatore was based in Singapore and served as senior director of finance for Asia-Pacific, during which time he helped triple the APAC business over four years. Before PayPal, Liberatore worked at eBay in several roles, including director of corporate FP&A. Previously, Liberatore held a variety of financial positions at Adobe Systems, Intel Corporation, and Hewlett-Packard.
FIS is furthering EMV production and transitions with its programs for more than 50 financial institutions over the last 12 months. Offering implementation and issuance programs for providers looking to upgrade to the EMV standard used across most of the world, FIS has taken a leading role in several EMV initiatives that support financial institutions, retailers, government entities and individual consumers. Through its NYCE Payments Network, FIS is one of 10 founding members of the Debit Network Alliance (DNA). A collaborative effort of 10 of the largest debit PIN networks, Debit Network Alliance is working to create a standard for EMV debit card processing that will meet Durbin Amendment rules and allow for an open and competitive debit network marketplace. Its Travel EMV Prepaid Card program allows banks to quickly and easily sell prepaid smart cards to customers without implementation costs.
Jack Henry & Associates is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking® division announced that Merchants Bank has selected its SilverLake System® core processing platform to provide enterprise-wide automation. This Vermont-based mid-tier bank will implement SilverLake through Jack Henry Banking’s outsourced offering, JHA OutLink Processing Services.
Zenmonics Inc. announced that Bank of North Carolina (BNC) has adopted the Zenmonics mobileBANKER platform to transform its customer sales and service capabilities. By combining data and services from disparate bank systems, Zenmonics mobileBANKER delivers a complete array of sales, marketing, transaction and account services functions through a single interface on a secure, mobile tablet device. Bank personnel can work with a client from virtually anywhere – inside the branch or out – without having to toggle between various systems and applications.
Mocapay reissued its cornerstone patent that offers merchants a single-use, perishable token for mobile transactions. This mobile payment methodology ensures the security of sensitive consumer information for any type of transaction while providing merchants with the marketing intelligence to better understand and influence customer-spending behavior. Additional patents have also been recently issued including the payment card emulation or “spoofing,” mobile marketing messaging and gift-a-friend patents. The original cornerstone patent was approved in 2010 and was recently reissued. The technology assigns each transaction a single-use and/or perishable token or code, which is then delivered to the mobile phone of the consumer authorizing the transaction in one of the most secure methods in the industry.
Fundtech announced it has hired Michael F. Jackson, Head of Americas Cash Management, brought on to lead Fundtech’s cash management business in the Americas as the company invests in and expands the business in this market. Jackson brings to Fundtech more than 25 years of experience in financial services, in areas including product strategy and product management, enterprise application software development, professional services, customer support, and bank operations. He was most recently Vice President of ACI’s Electronic Bill Presentment and Payment (EBPP) group. Before joining ACI he held various senior roles with S1 Corporation, including General Manager of the firm’s Americas Channel where he was instrumental in the design and development of S1’s Corporate Banking Application.
Virtual Piggy and Oink announced that over 1 million users have signed up for their family wallet solution to shop online. Oink online payment technology allows teens and tweens to shop in a manner compliant with the FTC and other international regulations. The majority of Oink consumers are teenagers, with over 80% in the United States. Oink currently offers several online shopping and gaming destinations, and will be adding additional leading brands and secure in-store purchasing in the near future.
Penalty fees paid by consumers last year took another dip. After rising predictably year/year for most of the last decade, 2010 saw the first penalty fee decline, down from $23.9B to $22.5B, with 2011 showing a further drop to $19.4B, 2012 dropping again to $17.8 B, and in 2013 falling to $12.0 B, according to the R.K. Hammer Card Penalty Fee Index, the lowest level since Hammer began tracking such fee trends. This is the fourth in their weekly series of seven year-end card trend papers, each one covering a different financial, marketing or operational card metric.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index for the U.S. was up 0.1% in December to 99.4 after a 1.0% increase in November and a 0.1% increase in October. This improvement is a clear reflection of gradually strengthening economic conditions through early 2014. Consumer expectations for business conditions and residential construction continue…