Fiserv financial services technology solutions announced several executive appointments to focus on growth opportunities. These include Shawn Donovan as Senior VP and Chief Sales Officer. Bringing nearly 25 years of sales and account management experience to his new role leading the global sales organization, he was most recently Executive VP for Acxiom Corporation, a position he held since 2008. Shawn led the Global Sales Organization, U.S. Business Unit, and Global Consulting Group at Acxiom where he was responsible for the company’s growth strategy and its execution, leading the worldwide sales and consulting organizations, and the U.S. client management team. Also, Steve Tait will assume a new role as Group President of international operations, leading sales, service and delivery functions outside the U.S. where Fiserv currently serves more than 1,000 clients. Tait joined Fiserv in 2009 and had most recently been Group President, Depository Institution Services, which includes Fiserv bank and credit union account processing operations.
Eric Marks has been appointed Managing Director, Alliance Development, with Auriemma Consulting Group (ACG) payment industry consultants. Bringing with him nearly 15 years’ experience at BearingPoint/KPMG Consulting, where he built and managed major client relationships across the firm with prominent card companies and lenders, Eric also designed and led the Key Account program for Navigant Consultingâs Financial Services practice, and managed Capgeminiâs relationship with one of the worldâs largest banks. Additional appointments at the Company include Patricia Sahm having joined the firm in June as Managing Director, Knowledge Management, most recently with TRW Credit Data (now Experian) where she led the initial implementation of automated FICO scores; and John Costa as Managing Director, Financial Strategies, in January 2010, who was formerly the CEO of Promontory Asset Finance Company.
Consumer identity protection provider ID Watchdog has released a letter to shareholders from Daniel
Mohan, President and Chief Operating Officer, providing investors with
an update on current business initiatives, and insight into managementâs
expectations for 2010 and beyond. ID Watchdog is the provider of idCHECK and ID
Watchdog Plus services, the only identity theft protection company
that offers patent-pending, three-tiered comprehensive monitoring,
detection and resolution for identity theft. The company proactively
detects problems at their source and administers immediate identity
theft resolution services to ensure complete peace of mind for its
clients. ID Watchdogâs products have been developed with input from
industry experts; national consumer advocacy groups; federal, state, and
local law enforcement agencies; consumer protection agencies; and adhere
to the guidelines published by the Consumer Federation of America.
Arkansas-based interactive marketers Acxiom Corporation reports income
from operations of $29.9 million in the current-year third
quarter. Income from operations of $29.9 million in the current-year third
quarter, compared to loss from operations of $8.6 million in the third
quarter last year. The prior-year loss from operations included $43.2
million in unusual loss items. Before the effect of the unusual loss
items income from operations for the prior-year third quarter would have
been $34.6 million.Revenue of $283.8 million in the current quarter,
compared to $301.0
million, excluding an Information Products pass-through contract
(approximately $20.1 million), in the third quarter a year ago. GAAP
revenue, including the pass-through revenue in the prior quarter, was
$321.1 million. This contract was modified in the fourth quarter of
fiscal 2009, and the company no longer recognizes pass-through revenue
from this contract.
With an extended agreement, NetSpend will continue to benefit from
Acxiomâs 40 years of experience and innovation. Acxiom “PanOptic-XTM Data Quality” services were implemented in 45 days
and in full production within two months, enabling NetSpend to quickly
reap the benefits of accurate, real-time customer data. The solution
also uses Acxiomâs AbiliTecÂ® linking technology to accurately track
customers as they move through NetSpendâs customer acquisition and
lifecycle programs. Acxiom pioneered the
introduction of customer data integration (CDI) to the marketplace
nearly 10 years ago with the creation of proprietary linking technology.
AR-based interactive marketer Acxiom has signed a multi-year renewal with Chase Card Services, the credit card division of
JPMorgan Chase & Co., to provide customer marketing solutions. Acxiom has 40 years of experience and a proven methodology in database
marketing and consumer-centric strategies. The company provides services
for most of the largest U.S. credit card issuers and retail banks.
JPMorgan Chase is a global financial services
firm with assets of $2.1 trillion and operations in more than 60
countries, and the company has issued about 159 million credit cards in
the United States and Canada.
Risk management provider MicroBilt has added Michael Nathans and Tom Smith to the Board of Directors.
Michael Nathans, PRBCâs founder and now Chief Development Officer of
MicroBiltâs PRBC Division, and Tom Smith, a founder of Total Technology
Ventures, have been added to the board and will have full voting roles.
Nathans founded PRBC in 2002, after 25 years in the residential real
estate and finance industries. Prior to founding the company, he was a
Senior Manager with PriceWaterhouseâs Asset Securitization, Mortgage
Banking, and Financial Risk Management practices. Mr. Nathans also
co-founded Just the Facts, Inc. one of the first services to use credit
histories and court records to screen tenants for apartment complex
owners and managers. Smith is one of the founders of Total Technology Ventures, an
Atlanta-based venture capital firm that provides capital primarily to
early and expansion-stage financial technology companies. Prior to
founding Total Technology Ventures, he was Vice President of Small and
Medium Business at IBM. Earlier, he was the Southern Area General
Manager for IBM’s sales, marketing and services business in a 13-state
MicroBilt is guaranteeing its âRed Flagâ identity verification screening
solution will efficiently protect small businesses and consumers against
losses incurred through identity theft, the first risk management
provider to do so. Backed by identity theft insurance from AIG,
MicroBilt security includes the “Falcon ID Generalized Risk IDentity
(GRID)” score by Fair Isaac and meets the November 1 deadline for
compliance with new FTC additions to the Fair and Accurate Transactions
Act of 2003 (FACTA), known as the “Red Flag” rules. These rules define
procedures for detecting, preventing and mitigating identity theft to
include the identification of discrepancies in address histories, fraud
alerts on consumer reports, suspicious use of Social Security numbers,
inactive accounts that suddenly become active, credit freeze
notifications, credit reports showing unusual patterns of activity,
notices from victims of identity theft or law enforcement agencies and
Prepaid debit card provider NetSpend has hired Frank Cotroneo as its new COO and is responsible for NetSpend’s operations, finance and accounting, and business information; Anh Vasquez as EVP responsible for NetSpend’s online channel and Tom Cregan as executive vice president and general manager, responsible for NetSpend’s check cashing, payday loan, and general retail channels. Before joining NetSpend, Cotroneo was founder and principal of Core Business Consulting, LLC, providing strategy, finance and business re-engineering consulting services . Vazquez comes to NetSpend with extensive experience in the online space, working for Intel and Netscape, and as a senior executive, most recently senior vice president, on the core team that built Wal-Mart’s billion dollar online business. Cregan joins NetSpend from PaySpot, Inc., a subsidiary of Euronet Worldwide, where he served as president. Prior to his role with PaySpot, Cregan was chief executive officer of e-pay Australia and New Zealand, a company that Cregan set up and sold to Euronet Worldwide in 2003.
Risk management information provider MicroBilt Corporation and PRBC are teaming to help small-to-medium sized and financial institutions conduct business with an estimated 50-70 million American consumers with “thin” or no established credit histories. PRBC is a bill payment credit bureau that collects, stores, scores, and reports bill payment data in compliance with the Fair Credit Reporting Act (FCRA) and the Fair and Accurate Credit Transaction Act (FACTA). It is the first credit repository to give prospective borrowers the tools to demonstrate their creditworthiness without the need to go into debt. The two companies will merge payment data collected by MicroBilt and PRBC in PRBC’s data repository to help more consumers qualify for FICOÂ® ExpansionÂ® scores used by lenders and financial institutions in underwriting new loans. As part of the agreement, MicroBilt will make an equity investment in PRBC.
U.S. Bank has selected AR-based Acxiom Corporation to provide customer acquisition marketing solutions across all lines of business within the credit card issuer’s Retail Payment Solutions group. The new partnership will allow U.S. Bank to streamline its customer data integration procedures by reducing processing time and increasing speed-to-market. U.S. Bank will also benefit from increased customer insight information resulting from improved analytic platforms provided by Acxiom.
MA-based Aite Group has released its report revealing over the next 2 years, mobile banking, e-mail communications and enhanced fraud detection are the most common types of applications large U.S. financial institutions will be engaging and/or replacing. Specifics of the research include findings of Aite’s survey of 23 U.S. financial institutions, conducted between January and March 2008, with 59% disclosing likelihood to deploy a mobile banking application and 41% likely to deploy a mobile bill payment application before 2011. Aite Group independent research and advisory firm studies business, technology and regulatory issues and their impact on the financial services industry.