CardWeb.com’s CardData database of Company Profiles today features ACI Worldwide.
Fico announced The Fair Isaac Advisors P&L Insight Service, giving financial services organizations an analysis of their portfolio trends and profit drivers, along with portfolio-level profitability forecasts and what-if scenarios for strategic planning purposes.Unlike traditional P&L assessments, the P&L Insight Service examines potential impacts across the credit lifecycle, including marketing, originations, customer management and collections. FICO’s advisors can rapidly generate actionable insights using a proprietary FICO tool with built-in forecasting models that can be tuned to the particular dynamics of a bank’s portfolio. Advisors convert 12 to 24 months of portfolio-level data into coherent business intelligence, provide automated trend analysis of profit drivers, deliver actionable and quantifiable recommendations, and assist with strategic planning activities for short-, medium-, and long-range objective-setting.
GA-based TSYS, which provides services to more than half of the top 20 international banks, will likely post total revenues for the first quarter between $461 million and $539 million. During the first quarter TSYS inked deals with Commerce Bank, Virgin Money, Vietnam Eximbank, and Navy FCU. The Company also enhanced its Credit Care product and plans to release Authorization Controls, a new product. Additionally, TSYS raised its stake in CPay.
Starting this week, First Bankcard is expanding a credit card program announced in November in partnership with FICO, giving cardholders with First Bankcard-issued credit cards free access to their FICO® Scores, along with information on the key factors affecting their credit scores and the actions they can take to ensure good financial management habits. Credit card customers having “First National Bank of Omaha” branded credit cards were the first to receive their free FICO® Scores. The program is now being extended to customers of First Bankcard’s co-branded credit card partners who have credit cards issued by First Bankcard
SecureKey announced it has named Mick Martin as U.S. general manager of financial services, and Michael Ting as vice president of payments. Both have extensive experience in working with leading financial services organizations, including Fair Isaac Corporation, Experian, and PayPal.
TSYS and FICO software integrated FICO’s latest version of its fraud management solution, “FICO Falcon Fraud Manager 6” with TSYS’ “PRIME” card and merchant management solution. This extension to TSYS’ global strategic alliance with FICO will enable TSYS to offer the Falcon Fraud Manager solution as a hosted service to its licensing clients around the globe. TSYS and FICO’s integrated solution is being successfully utilised by EnterCard, a Nordic-based TSYS PRIME client since 1999. The integrated Falcon solution manages fraud by examining the behavioural aspects of cardholder activity, using advanced analytic models to provide real-time decisions. Combining best-in-class neural network models with merchant profiles, the solution even goes one step further detecting fraud by using adaptive models that change as global fraud patterns migrate.
Top Image Systems Enterprise Content Management solutions provider announced that the Asian-Pacific arm of one of the largest retail banks in the US selected SmartStream’s TLM Reconciliations-Premium solution incorporating the eFLOW Banking Platform in order to expand the services they offer to their customers in the region. Seeking to increase their loyalty, the bank decided to offer its corporate customers an invoice matching and reconciliation service to let these companies collect payments more efficiently. Leveraging a matching engine that automatically examines electronic invoices and remittance notices and compares them to actual payments transferred, the solution isolates and resolves discrepancies, letting the bank’s customers focus more resources on their core business.
VantageScore Solutions, provider of the “VantageScore” credit score, developed as a joint venture among the three national credit reporting companies and announced a three-judge panel from the U.S. Court of Appeals for the Eighth Circuit issued a decision rejecting an appeal filed by Fair Isaac Corporation (FICO). This vindicates VantageScore again by affirming all earlier outcomes, including the court rejecting as a matter of law FICO’s claims of anti-competitive behavior, false advertising, and unreasonable and illegal restraint of trade. A federal jury also determined FICO had no trademark rights in its scoring range, and therefore that the VantageScore numeric range could not constitute trademark infringement.
FICO and Efma announced the results of the second European Credit Risk Survey, showing changes in the relationship between banks and borrowers, and a growing optimism for credit performance that is muffled by continuing struggles in mortgage markets. Conducted by FICO and Efma in May with risk professionals in Europe, asked participants for their forecast over the next six months, showing customers are more concerned with service, more reluctant to borrow or use credit, and more interested in building their savings; risk manager responses reflect greater optimism with regard to delinquencies than in the prior survey overall, yet still project troubling trends for mortgages and current account overdrafts; credit supply and demand appear to have become more balanced, suggesting both a reduction in credit demand by cautious consumers and an increase in credit supply spurred by stimulus programmes and increased lender optimism; and more than 40% disclosing consumers will pay their credit card ahead of other obligations.
Tom Quinn has been appointed to the Credit.com consumer education expert team, bringing with him more than 20 years’ experience with the likes of FICO, Experian and Citibank. He spent the last 15 years at FICO creating and delivering scoring educational initiatives and was later appointed to develop, launch and grow myFICO.com to give consumers direct access to their FICO scores. He was subsequently appointed VP of the division. For what is now FICO, he acted as Product Manager of the MDS Bankruptcy Scores and spent several years in Citibank’s Credit Card division.
Banking regulations may dampen credit supply and slow economic growth that is typically fueled by consumer and small business spending across Europe in 2011 while risk managers forecast a rise in credit demand that outpaces the growth in supply in most regions, with the “credit gap” widest for small and medium enterprises (SMEs). Risk managers foresaw a tightening in credit supply due to regulations, including Basel III requirements for higher capital reserves. One-third of respondents said Basel III would cause consumer lending to decrease, and more than half (52 percent) of respondents said consumer protection regulations would lead to a decrease in consumer lending. This, according to FICO and Efma (European Financial Marketing Association) announced the results of the first European Credit Risk Survey, also shows 62% said new banking regulations will reduce profits from consumer and SME credit portfolios. Additionally, only 47 percent believed the amount of credit extended will increase, and 17 percent believed it will decrease. More than 60 percent of respondents expected small business delinquency to worsen. Overdraft delinquency was expected to worsen by 43 percent of respondents. However, while 50 percent of respondents expected credit card delinquency to worsen, more than 35 percent of respondents project a reduction in card delinquencies.
Recurly subscription billing services has achieved PCI Level 1 secure service through Trustwave . Web, Mobile, SaaS and Publishing companies can now outsource their recurring billing management to Recurly without having to invest heavily in their own infrastructure to ensure their customers the highest standard of excellence for payment data security. Trustwave validated compliance with PCI-DSS for service providers. The Level 1 requirement applies to any provider who stores, processes or transmits more than 300,000 transactions annually.