CardFlash.com Beaking News: WISEKEY (Kaspersky); COMPASS (FreedomPay); WU (award); and HCENTIVE (Mashable). WISEKEY – WISeKey and Kaspersky Lab are developing technology that will deeply integrate authentication and data encryption into new wearable devices, enabling them to safely connect, communicate and exchange financial data. Under the new partnership, Kaspersky Lab’s secure software development kit for mobile…
BBVA Compass is now offering its credit card clients real-time redemption of rewards earned on qualified purchases made at any retailer.
Cardtronics announced a licensing agreement with BBVA Compass, providing the bank branding rights to more than 300 ATMs in H-E-B stores. The deal equates to a nearly 50% jump in the bank’s Texas ATM network, bringing its total to nearly 1,000 machines. The deal provides the bank with potential access to shoppers at more than 300 H-E-B operated stores. The agreement between Cardtronics and BBVA Compass is part of a growing relationship established in 2012. Prior to this H-E-B announcement, BBVA Compass had branded 268 Cardtronics-owned ATMs in convenience and grocery stores throughout Colorado and Texas.
Banco Bilbao Vizcaya Argentaria, has selected Accenture’s Alnova Financial Solutions technology platform to help support the aggressive technology transformation of its U.S. banking franchise. The agreement with Accenture to deploy the new core banking solution will position BBVA’s U.S. banking subsidiary – BBVA Compass – allowing immediate posting of deposits and loan payments for increased efficiencies. The new core technology platform will also improve product time-to-market allowing the bank to quickly adapt to evolving customer preferences while at the same time proactively addressing changing regulations. The solution will deliver real-time bank processing capabilities and support increased transaction volumes for BBVA Compass while streamlining and enhancing the bank’s risk management functions.
AL-based Compass Bancshares has signed a definitive agreement under which Banco Bilbao Vizcaya Argentaria will acquire Compass for a combination of cash and stock for $9.6 billion. Compass, the 36th largest U.S. bank credit card issuer, has about $550 million in credit card outstandings at year-end 2006. According to CardData (www.carddata.com), Compass has about 330,000 bank credit card accounts with 160,000 active customers. At the end of 2006, Compass had nearly 340,000 cardholders. BBVA, which operates in 35 countries, is based in Spain and has substantial banking interests in the Americas. Upon completion of the transaction, Compass will rank among the top 25 banks in the U.S. with approximately $47 billion in total assets, $32 billion in total loans and $33 billion in total deposits.
Home Account announced that Compass Bank of Birmingham, Ala., now offers Home Account’s Canopy Suite of Internet banking solutions to the more than 1,000 community banks that are customers of Compass Bank. These products offer Compass Bank’s community bank customers the opportunity to provide sophisticated online financial services to both their retail and commercial customer base.
Compass Bank, one of the leading providers of correspondent banking services in the U.S., already has 12 financial institutions signed up for the Canopy Suite of Internet banking solutions. Installation is currently underway at those institutions.
“We chose Home Account’s Canopy products as ‘best of breed,'” said Charles Bretz, Senior Vice President of Compass Bank. “Home Account’s flexibility and product range enables us to offer banks their choice of in-house or outsourced Internet banking, along with related services such as brokerage, cash management and bill payment. That will help them attract and retain customers. We view this strategic partnership as an excellent way to continue our leadership position in the delivery of financial services to our community bank customers.”
“This is a great opportunity for these community banks, and for us as well,” said Charles A. White, President and CEO of Home Account. “The banks get Canopy software and Home Account support, all within the framework of their trusted network relationship with Compass Bank. Meanwhile, Compass Bank offers us an efficient and cost-effective way to reach these institutions. The enthusiastic reception reinforces our conviction that Canopy is ideally suited to the competitive requirements and operating environment of community banks of all sizes.”
About Home Account
Home Account delivers patent protected Internet banking, financial management, and electronic commerce solutions to banks, brokerages and other financial service organizations. Home Account’s banking products include: Canopy Central(tm), a full service, revenue-generating online financial hub solution that includes banking, bill pay, brokerage, lending, insurance, retirement planning, financial analysis, portfolio tracking & stock quotes, world & financial news, weather and auto buying services; Canopy First(tm), an outsourced, scalable and brandable Internet banking solution; Canopy Business(tm), Internet based cash management services for corporate customers; and Canopy Server(tm), an OFX (Open Financial Exchange) financial services platform that allows access by personal finance management software packages such as Microsoft(r) Money 99, Intuit’s Quicken(r) 99/00,and Quickbooks 2000. HomeAccount also offers the unique CardSolutions(tm) service, an innovative Internet account management program designed especially for credit card issuers.
Home Account is headquartered in Emeryville, CA, with offices in Charleston, SC, Omaha, NE, and Atlanta, GA. Please see Home Account’s website at http://www.homeaccount.com. Home Account, Canopy Central, Canopy First, Canopy Business, Canopy Server, and CardSolutions are trademarks of Home Account Holdings, Inc. Home Account products may be licensed for use under HomeAccount’s U.S. Patent Nos. 4,953,085; 5,644,727; 5,852,811; 5,854,828; 5,875,437; 5,884,285; 5,911,135; 5,911,136 and other pending U.S. and international patents.
About Compass Bank
Compass Bank is a subsidiary of Compass Bancshares, Inc., an $18.5 billion Sunbelt-based financial holding company that operates 323 full-service banking offices in Alabama, Arizona, Colorado, Florida, New Mexico and Texas. Compass is among the top 40 U.S. bank holding companies by asset size and ranks among the top earners of its size based on return on equity. The company’s earnings per share have increased for 12 consecutive years and dividends per share have increased for 19 consecutive years. Shares of Compass’ common stock are traded through the Nasdaq stock market under the symbol CBSS.