TSYS completed master services agreement, with a minimum six year term, with Bank of America to provide processing services for its consumer credit card portfolios in the U.S. and will continue to process Bank of America’s commercial credit card portfolios in the U.S. and Internationally. For this, Bank of America will utilize TSYS’ “TS2” core payments engine and its customized processing solutions to include risk and financial management and business intelligence delivered through a dedicated support team. TSYS currently processes Bank of America’s commercial and small business card portfolio on its TS2 platform, and that relationship will continue under the new agreement, and plans to complete the conversion of Bank of America’s consumer card portfolio from its in-house processing system in mid-2014.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] FIS banking and payments technology posted 2Q/12 revenue from continuing operations up 3.1% to $1.46 billion, compared to $1.41 billion in 2Q/11. Net earnings from continuing operations, as adjusted, totaled $198.1 million, or $0.66 per diluted share, compared to $167.7 million, or $0.54 per diluted share, in the second quarter of…
Card Compliant appointed Jeff Johnson Chief Sales and Marketing Officer to lead Card Compliant’s management of all global sales including market assessment and product strategy. With this, he will drive achievement of the company’s customer acquisition and revenue goals, and will evaluate new business opportunities, strategic alliances and market conditions for Card Compliant. Johnson brings to the role experience in the prepaid card industry having served most recently as the Senior Vice President and Division Manager of Prepaid Services for First Data, where he led the product development efforts for open loop, closed loop, healthcare, transportation and payroll products, along with leading the strategic planning efforts and new growth initiatives for prepaid.
Bluepoint Solutions remote deposit capture, item processing and enterprise content management and Open Solutions collaborative enterprise technology to community-based financial institutions worldwide expanded their partnership to provide Open Solutions’ “DNA-tMagic” clients a robust teller transaction archive and reporting application. Bluepoint’s Receipt Manager application automatically launches to capture and create a detailed summary of the transaction. This information is then archived and made immediately available to authorized users within the financial institution as well as account-holders upon request.
Experian information services launched its “Smart Collect 24/7” online collections portal. Giving creditors a quick, secure and easy way of interacting with customers in arrears, “Smart Collect 24/7” uses technology developed by Intelligent Environments and gives banks, retailers and other providers the ability to provide their customers with the tools to manage their arrears, securely make payments, set up direct debits and create payment plans through internet enabled devices.
AlphaPoint Technology Data Center Infrastructure Management and IT Asset Management solutions through its “AssetCentral” has acquired SoftPay Solutions. The “AssetCentral” solution uses an SQL database for storage, on-demand content generation, hyper-linking and cascading style sheets to create a highly customizable visualization tool for managing IT assets. This enables integration with real-time power management, auto-discovery, RFID, temperature sensors, and network and system monitoring tools. AssetCentral™ provides “drill-down” asset modeling, capacity planning, change management and business reporting functionality for today’s complex data center environments. Meanwhile, SoftPay’s solution includes an “on-line billing system”, which enables merchants through their own control panel and dashboard to view daily profits, run transaction reports, and to manage customer databases, subscription billing, invoicing and customer notifications using various email tools.
Evolution1 electronic payment, on-premise, and cloud computing healthcare solution that administers reimbursement accounts announced Robert Deshaies will join the company as executive vice president. Deshaies will partner with Evolution1 execs to deliver a world-class Partner experience and will be responsible for further accelerating growth and increasing the presence of Evolution1 in the market. He will oversee human resources, sales, focused business development, marketing, revenue, and public relations. He brings more than 25 years of industry and Partner model experience to Evolution1.
CreditKarma.com consumer credit advocate launched its its “Credit Karma Mobile” free iPhone app. Offering free credit scores and free credit monitoring on-the-go, Credit Karma Mobile users may also register for free credit monitoring and receive notifications when certain events are reported in their credit report. This service is unique to CreditKarma.com and has never been offered before in an app. Credit monitoring services help consumers monitor and identify possible fraud. According to the Bureau of Justice Statistics an estimated 8.6 million households had at least one person in their family who was a victim of identity theft in 2010. It also gives the option for consumers to receive free notifications when certain events are recorded and a “Credit Report Card” to disclose factors influencing the credit score.
Panini global payments solution provide launched several initiatives to assist financial institutions with successful implementation of teller image capture (TIC). Through these programs, financial institutions have access to hardware, software and services from Panini’s Continuous Innovation Portfolio. These include the Panini “Avantor” for the management of check scanners deployed throughout an institution, including branch deployments. Panini Avantor is designed to be flexible, scalable, and adaptable, allowing financial institutions to configure the solution based on their unique teller capture requirements. Panini also released a new white paper “TIC Best Practices: A Branch Perspective” that provides critical information related to best practices for successful TIC implementations.
MasterCard and Sonoma State University forged a long-term relationship in support of the performing arts in which MasterCard will become the title sponsor of the annual MasterCard Performance Series. It will also support the building of an outdoor pavilion for music and dance at the Green Music Center, adjoining the Joan and Sanford I. Weill Hall. Sonoma State University and MasterCard will also offer a student internship program in the field of entertainment and sponsorship management and offer financial literacy programs and tools for the university’s students.
UMB Bank been awarded a contract as the select purchasing card provider by The Cooperative Purchasing Network (TCPN) to establishe a national cooperative buying contract that satisfies the needs of participating governmental and non-profit entities for the purchase of Procurement Cards and Related Services with UMB Bank as the issuer. This contract will permit governmental agencies to establish a procurement card program with UMB on an “as needed” basis from a competitively awarded contract to comply with purchasing regulations.
Fiserv financial services technology solutions and business-driven technology solutions for credit unions expanded to partner TruStone Financial Federal Credit Union, furnishing the credit union an enterprise-wide banking solution based on the “Acumen” account processing. Fiserv was deployed to deliver a consistent, high-quality member experience across multiple channels while increasing efficiency, optimizing resources and providing tools for continued innovation. Other Fiserv solutions selected by the credit union include “Corillian Online” for online banking, “Mobiliti” for mobile banking, “Popmoney” for person-to-person payments and “CheckFree RXP” for online bill payment.