NCR Corporation has signed a definitive agreement to purchase Digital Insight Corporation online and mobile banking solutions for $1.65 billion and completed the acquisition of Alaric Systems Limited for $84 million. These companies complement and extend NCR’s existing capabilities in the banking industry to form a complete enterprise software platform that will deliver a unique and compelling consumer experience across all digital and physical channels – mobile, online, branch, and ATM. The combination will help retail banks and other financial institutions reduce legacy costs and enable solutions for new, more nimble branches, by providing one platform for omni-channel services and all payment and transaction types. The acquisitions together will also position NCR to deliver an enterprise software stack that securely and seamlessly creates a differentiated consumer experience across all channels (online, mobile, ATM, branch) improving a retail bank’s growth, profitability and customer satisfaction. Alaric Systems payments processing and fraud prevention software allows financial institutions, processors and retailers to manage ATM, point of sale, ecommerce and mobile payment or banking transactions, deliver complex multi-channel payments integration and carry out enterprise fraud and risk management.
Aconite is proud to announce that its Smart EMV Manager EMV card authorization systems is under production through Fiserv Inc. Aconite’s Smart EMV Manager preserves the investment made by issuers and processors in their authorization platforms by providing fully-featured EMV capability in an easy-to-integrate plug-in solution. Fiserv is utilizing Smart EMV Manager to bring advanced EMV processing to its already sophisticated environment. With Smart EMV Manager, Fiserv can process EMV transactions across multiple card products and establish the foundation for enhanced chip capabilities as these are introduced in the marketplace.
Consumers in select countries can buy American products from U.S. retailers and ship them abroad using PayPal and MyUS.com in 13 countries. The company is also offering a discounted membership fee and shipping incentive for ALL new customers that sign up prior to December 20th. MyUS.com already serves global customers in over 220 countries and handles millions of packages annually. MyUS.com makes it easy and secure for consumers worldwide to shop US retailers and save up to 80% on international shipping costs. Consumers pay for shipping using credit card, check, money order, wire transfer and now PayPal. MyUS.com is offering 50% off its premium membership fee for year one and 20% off its first shipment for ALL new members (all countries) that sign up before December 20, 2013. Offer good for new members only; 20% discount does not apply to USPS shipments. To take advantage of this offer, visit www.myus.com/paypalpromo or use coupon code “paypalpromo” when registering.
AOC Solutions commercial payments technology and services announced KeyBank has selected its “EnCompass” payments platform for its customers’ commercial card management and reporting. With this, KeyBank will offer its business customers AOC Solutions’ fully hosted, PCI-compliant commercial payments solution, EnCompass, as a one-stop online payment tool to help their business customers manage corporate purchasing/accounts payable (A/P), fleet, travel and entertainment, and purchasing card programs. KeyBank’s customers will also be able to obtain detailed statements and automatically analyze their spending using advanced metrics and reporting features. To access the EnCompass platform, which will be white-labeled as Key2Purchase to reflect the KeyBank brand, users will simply log in via browser using their assigned credentials.
Oberthur Technologies digital security solutions partnered mBank mobile financial inclusion to offer mobile branchless banking in emerging markets. Banks and mobile operators need to adapt to deliver the right banking offer to the unbanked population. MoreMagic and mBank’s expertise in branchless banking services, the partnering companies have created an extended mobile branchless banking offer. The m:Wallet™, that has already supported a large number of services such as merchant payment and money transfers for more than a decade, will now include a full range of micro-finance services such as loan, credit and insurance. On top of this enriched wallet, the solution will also include core banking and back-office capabilities for operating the branchless bank, risk management tools and business consulting skills.
Thoma Bravo private equity investment firm sold its Digital Insight Corporation digital banking to NCR Corporation. With a ticket price of $1.65 billion, the sale is projected to close in 1Q/14. Digital Insight, formerly Intuit Financial Services, a division of Intuit, Inc., was acquired by Thoma Bravo in August of 2013. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Having increased the past four consecutive months, the Conference Board Leading Economic Index for the U.S. was up 0.2% in October to 97.5 after a 0.9% increase in September and a 0.7% increase in August. This helps lift the six-month annualized growth rate to 5.1% from 3.7% in the previous six…
Polaris Financial Technology announced that its Payments Hub from its iGTB division received a ‘Best in Class’ recognition for Payments Operations in CEB TowerGroup’s annual Payment Hubs Technology Analysis report, 2013. As a real-time payments solution that minimizes operational risk and improves the Straight Through Processing rate to over 90%, Polaris’ Payments Hub provides superior customer experience though a channel agnostic service layer with the flexibility to configure to meet changing customer needs, regulatory reforms and operational arrangements. With a 360° view of corporate activities related to payments, it offers better risk management, supports centralized control of global payments operations and its robust exception handling process and AML and fraud management capability reduce Exception and Investigation and manpower costs.
Western Union and Better Business Bureau launched BBB Scam Stopper to help consumers reduce their chances of becoming a victim of common scams. In conjunction, the partnership is advising consumers It’s best always to donate to a charity directly after confirming its legitimacy – rather than giving in response to a phone call or by clicking an email link. Never send a money transfer to an individual for a charity. Western Union does accept donations for charities, but the money transfer must be sent to the organization, not to an individual. Never share banking or credit card information with a person or business you don’t actually know. Never click on links to charities on unfamiliar websites or in texts or emails. These may take you to a lookalike website where you will be asked to provide personal financial information or to click on something that downloads harmful malware into your computer.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Prime charge-offs are anticipated to decline for the seventh straight month to the lowest observation in the near 23-year history of the index. The previous record low for charge-offs was 3.10% set in March of 2006, but are anticipated to end 2013 in the 3.0%-3.3% range. Fitch’s preliminary Prime Monthly Payment…
A recent PayPal usability study shows only 1 person out of every 4 was able to register their billing address and complete an online purchase successfully. Subsequently, PayPal is launching its patent-pending method to allow the usage of prepaid gift cards so that you can seamlessly apply them to the purchase of products and services anywhere PayPal is accepted. As long as the merchants a user is shopping with accept PayPal, they now have buying power on top of their existing debit, credit cards or banks.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Conference Board Consumer Confidence Index dropped again in November, following an October drop. The Index now stands at 70.4 (1985=100), down from 72.4 in October. The Present Situation Index edged down to 72.0 from 72.6. The Expectations Index declined to 69.3 from 72.2 last month. Consumers’ assessment of overall current conditions…