Simple Honey has been acquired by OpenCoin. Building the “Ripple” protocol for a new virtual currency and distributed open source payment network, OpenCoin will be composed of the simplehoney consumer engagement team to focus on usability. The simplehoney team has successfully launched targeted vertical applications for the travel and shopping categories. At OpenCoin, they will help build a new open source, distributed payments network and virtual currency called Ripples.
The Discover U.S. Spending Monitor was flat in March, dropping just one half point to 93.3, as consumer confidence in the economy and personal finances slightly declined. The decline in economic and financial confidence was largely driven by consumers ages 18 to 39 and those making under $75,000. However, plans to increase spending on major…
Spindle mobile payments solutions reached an agreement with TruEffect First-Party display advertising technology, integrating its “MeNetwork” mobile marketing platform to TruEffect’s display advertising services. TruEffect will be able to use the Spindle “MeNetwork” platform to deliver location- and time-relevant offers from major retailers and restaurants to consumers through their mobile devices. Subsequently, TruEffect will utilize its sales force and customer relationships in an effort to increase the volume of merchants on the “MeNetwork” platform, which will in turn leverage TruEffect’s First-Party display advertising platform to acquire customers. TruEffect’s technology is designed to enable more efficient delivery of web-based marketing programs, and give advertisers and agencies greater visibility into the effectiveness of campaigns.
Diebold and CO-OP Financial Services are launching the credit union shared branching model in the self-service channel. With this, Diebold is installing its “Opteva” ATMs, featuring CO-OP NextGen ATM shared branching solution at Premier Community FCU. The solution enables members of participating CO-OP Shared Branching credit unions access to other credit union accounts or sub-accounts such as a CD or an IRA using Premier Community’s ATMs. Standard ATMs can normally only access accounts linked to an ATM/debit card limiting most transactions to checking and savings accounts. The ATMs further enhance convenience with Diebold’s deposit automation technology. The shared branch ATMs feature deposit automation technology, which allows members – and members of participating CO-OP Shared Branching credit unions – to complete envelope-free cash and check deposits. The ATMs automatically process deposited notes and checks, along with many other transactions, allowing Premier Community members more flexibility at a self-service device.
Experian global information services acquired Decisioning Solutions market-driven Software-as-a-Service (SaaS) provider. To broaden the capabilities and strengthen the global reach of Experian’s originations and customer acquisition software products, this acquisition is to become part of Experian’s Decision Analytics business. The acquisition also extends Experian’s global lead in credit information and analytics by packaging Decisioning Solutions’ powerful and proven multitenant, multilingual software with Experian’s consumer and commercial data, analytical expertise, and identity proofing and authentication technologies, all from a robust and flexible SaaS model. The offering will enable small, medium and large organizations to make secure, on-demand, analytics-based customer decisions so they can achieve and sustain significant growth.
State Bank of India (SBI) has chosen NCR to deploy 600 NCR “SelfServ 32” Intelligent Cash Deposit ATMs. While check and cash withdrawals make up more than 60% of transactions performed at the teller counter, the NCR SelfServ intelligent deposit ATMs allows SBI to reduce long queues at its branch and will give its customers the flexibility to execute everyday cash deposit transactions beyond banking hours. Migrating high volume deposit transactions from the branch to the ATM reduces cost significantly for banks. A single cash withdrawal or deposit transaction at the branch can be reduced by up to 75 percent. A normal withdrawal typically costs a bank between Rs. 40 to Rs. 45 per transaction, while the same transaction may cost about Rs. 10 to Rs. 15 at the ATM.
Diasoft financial software solutions and IBM completed the first stage of the joint complex implementation in İŞBANK. The bank needed to implement a modern software complex based on a reliable hardware platform and selected Diasoft’s software complex for its component-based Diasoft FA# back office and a flexible high performance FLEXTERA Front Office. Namely, İŞBANK chose IBM “PureFlex” fully integrated system with unified management of computing, networking, memory and virtualization resources. The experts from Diasoft’s Competency center together with IBM’s specialists deployed an integrated hardware and software platform PureFlex, after which they proceeded to configuring Diasoft FA# and FLEXTERA applications. Simultaneously, the companies arranged a comprehensive training program for the bank’s users aimed to enhance their system administration skills. The acquired knowledge will allow the bank’s staff to support the system on their own in the future.
Alaric fraud prevention and payments solutions is responding to significant market interest in the Middle East, hiring Tausif Ahmed to drive the company forward. He joins Alaric from Logica, where he was the Regional Sales Manager based out of Dubai, and prior to that he was the Regional Territory Manager for Middle East, Levant and Pakistan for ACI Worldwide in Bahrain. They want to replace them with a modern, flexible payments architecture which will help to differentiate their products and services, as well as growing their presence in the region. I am very excited to be able to introduce them to Alaric’s product suite,” said Ahmed, who is Director Middle East at Alaric.
iKaaz mobile payment solutions launched its “Tap & Pay” reader to enable cashless transactions based on NFC technology. iKaaz is making mobile payments faster and has broken this crucial cost barrier and has released a cost effective NFC reader for merchants. iKaaz’s proprietary NFC Reader can be plugged into to any mobile phone to convert it into a mobile POS (point of sale) device and is priced at less than US$ 20 (INR 1000). In order to engage the consumer ecosystem, iKaaz offers consumers an NFC Sticker priced at less than US$2 (INR 75) that convert any mobile phone into an NFC-enabled phone.
Bank of America announced that Adriana Kong Romero has been named market president for Tucson and Southern Arizona. To serve as the enterprise leader in the region, she will work with company leaders to help deliver a wide range of global financial services to more individuals and businesses locally as well as deepen relationships with existing customers. She will also oversee corporate social responsibility activities including philanthropic giving, community development lending and investing, environmental initiatives, diversity efforts, arts and culture projects, and employee volunteerism. Romero is also a senior client manager for Bank of America Merrill Lynch’s Business Banking Group in Tucson and Southern Arizona, which provides strategic, integrated financial advice and solutions to small and mid-sized businesses. She has also worked on growing and expanding the healthcare industry focus for Arizona and the Business Banking Central Region. She is a graduate of the University of Arizona with a B.S. in finance and holds an M.S. in organizational management from University of Phoenix.
First Tech Federal Credit Union launched its new Windows Phone mobile banking app, making it the first credit union in the United States to introduce a native Windows Phone mobile banking app complete with integrated mobile deposit and bill pay functionality. First Tech members can now bank from their Windows Phone, iPhone or Android smart phone anytime, anywhere. App features include access to First Tech accounts anytime, anywhere; making deposits with mobile e-deposit; paying bills; transfer funds and finding a First Tech branch. First Tech will launch its new Windows phone app on-site at the main Microsoft campus, giving employees of Microsoft an in-depth look at this new platform.
Helixion NFC mobile payment launched its lok-MPL mobile payments platform, a complete multi-scheme application platform for mobile NFC payments. The lok-MPL platform is the first to enable the creation of mobile payment applications that operate across any digital wallet, any payment scheme, any phone and any secure element. The lok-MPL platform is backed by comprehensive consultancy and support services to ensure banks, mobile network providers and third party solutions providers can maximise their investment in NFC mobile payment applications. After extensive testing and piloting with major European banks and network operators, there will be a series of commercial roll-outs of lok-MPL based mobile payment applications throughout 2013.