[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa announced 1Q/14 net income of $1.4 billion, an increase of 9% from the year ago figure while net operating revenue was $3.2 billion, up 11% over the prior year, driven by strong growth in service revenues, data processing revenues and international transaction revenues. The strengthening of the U.S. dollar impacted…
Unloading the Best Buy credit card portfolio in September provided an artificial boost to Capital One’s average yield and net revenue margin in the third quarter for its U.S cards of 121 basis points and 123 basis points, respectively. However, in the fourth quarter the average yield was up 24 basis points compared to one-year ago, but down 121 basis points sequentially. The net revenue margin was up 59 basis points over the year ago quarter, but down 119 basis points from the prior quarter. For the fourth quarter average yield was 14.44% and the net revenue margin was 17.34% for the U.S. portfolio.
Fundtech global transaction banking solutions hired Peter Reynolds Managing Director for Fundtech EMEA Sales. As the head of EMEA sales, Reynolds is responsible for driving regional strategy and managing local teams. He reports to Chris Zingo, Global Head of Sales. Reynolds brings to Fundtech more than 12 years of sales and management experience in financial services. Most recently, he led the EMEA sales initiatives for treasury and risk management solutions provider, Reval. Prior to joining Reval, he was a Sales Director at Thomson Financial.
Visa announced the Visa Commercial issuer through the SAP Financial Services Network designed to help corporations more easily automate and process their invoice payments without the need for significant investment in custom software, and is planned to be available summer 2014. This will help corporations who want to move toward electronic business-to-business payments. This new offering will be designed to allow corporate clients of participating Visa Commercial issuers to route payment instructions to Visa via the SAP Financial Services Network.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In terms of growth, MasterCard’s Europe, Latin America and Canada regions all under performed the fast growing Asia-Pacific-Middle East-Africa region in 2013. Last year the European region produced annual growth of 16.6% with third quarter gross dollar volume of $322 billion. In the Latin American region gross dollar volume also rose…
Adyen today announced findings from its third Adyen Mobile Payments Index covering the period September to December 2013. The Index shows mobile payments accounted for 19.5% of all transactions worldwide in December, a growth of 55% year-over-year, up from 12.6% the previous December. New to this Index, Adyen has pulled out data showing not only the volume of transactions made per type of mobile device, but also the average transaction value across a selection of industry sectors. This data shows tablets to be the preferred device for higher value transactions over smartphones and even PCs in some cases.
Fiserv announced its Vantage Risk and Budgeting Manager application is available as a hosted software-as-a-service (SaaS) solution via the Intelligent Workplace 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. The functionalities of Vantage Risk and Budgeting Manager are integrated with other Fiserv solutions via Intelligent Workplace, which is a single sign-on portal that includes Prologue(TM) Financial Accounting Services, Predictive Scores(SM), Credit Risk Modeler, Trend Modeler and Prepayment Modeler. The portal makes it easier for end users to manage and use these views of the institution’s performance, while seamlessly integrating an organization’s risk, budgeting, and reporting data and processes.
Davis + Henderson Corporation announced that Atomic Credit Union has chosen its UltraData Enterprise Core solution, along with additional integrated solutions from the company. These solutions include Cavion Internet Banking, Cavion Voice Banking, Cavion Mobile Banking, Cavion Bill Pay, Cavion Remote Deposit Capture, ActiveView Item Processing, Touché Analyzer business intelligence and the Servicing Director loan servicing system. Atomic Credit Union, based in Piketon, Ohio, selected D+H in order to take advantage of the integration between its core and channel solutions, as well as profit from the added value of D+H’s regulatory knowledge.
Madiston LendLoanInvest is now launching a new P2P (peer to peer) Lending site that will offer investors and borrowers an unprecedented level of flexibility and control, allowing them to customize loans to suit their personal needs. The Madiston LendLoanInvest site offers a fair alternative to traditional funding methods by matching responsible lenders with stable, credit worthy borrowers. It operates on Madiston P2P Lending Software, a highly sophisticated automated platform that provides considerable flexibility and convenience to the user. It means that Madiston LendLoanInvest can offer a true alternative to existing P2P providers offering fixed terms and values. Madiston lenders can set their own parameters and spread their risk across different borrowers, either through a self-selected bidding approach or an automated lender-borrower matching process. Borrowers can choose a specific loan amount in £10 increments and select their loan period to the nearest quarter, meaning they won’t be restricted to 3 or 5 year loans. Participants can remain anonymous and everyone benefits from a transparent charging model, with no hidden costs.
NCR Corporation and INETCO Systems Limited announced that Sinergia has chosen a combined NCR APTRA Vision and INETCO Insight® software solution to monitor real-time service delivery and improve customer service. The solution will be deployed to more than 165 rural banks and 2,000 ATMs that run on the Banche di Credito Cooperativo network in Italy. Sinergia is the result of a merger between Cesecoop, Soar, UPF and Iside Spa. The objective of the merger was to provide rural banks throughout Italy with a centralized, standardized infrastructure that makes it easy to achieve operational excellence and optimal cost-effectiveness. NCR APTRA Vision is a multi-vendor ATM management system used by financial institutions all over the world to proactively manage and improve ATM uptime and availability. The INETCO Insight transaction monitoring software complements APTRA Vision by providing real-time alerting and end-to-end visibility into consumer transactions once they are initiated at an ATM or any other customer-facing touch point such as a mobile application, kiosk or online banking application.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] TSYS posted 4Q/13 total revenues of $600.8 million, an increase of 25.4%. For the year, total revenues were $2.1 billion, an increase of 14.0%. Total revenues for the quarter and year were negatively impacted by currency translation of $3.8 million and $20.6 million, respectively, as well as a decrease in reimbursable…
The bad stuff is declining and the good stuff is rising for Citbank-branded bank credit cards. For the fourth quarter Citi North America reported a 16% decline in charge-offs, a 14% decrease in delinquency while purchase charge volume rose 4% and the net credit margin rose 1%, year-over-year. Meanwhile, Citi’s North America retail store credit card business posted a 14% increase in purchase dollar volume, with a 17% rise in the net credit margin, offset by an 8% drop in charge-offs, year-on-year.