Acculynk’s Payzur personal commerce (p-commerce) solution for debit cards announced Gesa Credit Union will pilot the P2P solution for its members, for which Crystal Clear Payments will serve as a channel partner. The Acculynk platform allows financial institution customers to send funds simply by authenticating the mobile- or web-initiated transaction with their bank issued PIN via the PaySecure patented online graphical PIN pad. Since Payzur is not ACH based, there is no enrollment or waiting period for consumers to begin using the service. Acculynk contracts with financial institutions directly and through channel partners to offer the Payzur p-commerce solution to their customers. For it, Crystal Clear Payments will provide payment processing solutions to the financial industry including credit signature processing; debit signature processing; PIN-based processing; Intelligent ATM services; cardholder loyalty programs; fraud moxie risk management, detection, and prevention; and card manufacturing programs.
NCR Corporation deployed its APTRA software featuring Advanced Deposit on multi-vendor ATMs in Alaska USA Federal Credit Union’s ATM network roughly eight times faster than the norm. This is thanks to the continually increasing experience of its professional services team as well as improvements to its APTRA software. APTRA software can help mid-sized and community banks and credit unions take advantage of the cost efficiencies of multi-vendor applications – especially as financial institutions deploy more sophisticated functions at the ATM, such as ADA voice guidance, advanced deposit, personalization, targeted marketing and integration with other channels. According to NCR data, only one percent of U.S. financial institutions with less than $50 billion in assets have installed multivendor software applications, despite 75 percent of the 20 largest banks doing so.
Norkom Technologies has acquired Digital Harbor for the expansion of
its client base and the expansion of global compliance security. With this
development, Norkom’s client list is over 50 and projects a 100% growth
in security compliance by 2010. The transaction for $36.5 million cash
stipulates the takeover of the company and the acquisition of Digital
Harbor’s 74 employees.
To comply with the financial industry’s’ crime strategy, Raiffeisen
Zentralbank Osterreich will use software from Norkom Technologies for
all of its’ 17 banking operations. The software will monitor and analyze
every RZB transaction and interaction using matching techniques from
watch lists to protect the bank from conducting business with criminals
and terrorists. Not only will this development protect against such
activities as money laundering and fraud, it will reduce compliance
costs by a minimum of 15%.
A new survey of financial service providers from Datamonitor on behalf of
Norkom Technologies reveals a significant shift in the way the providers
manage their regulatory compliance obligations and their efforts to stem
financial crime. It reveals that 21% either are or plan to integrate the
departments that address financial crime and compliance, along with the
technology infrastructures that support their activities. The research
also reveals that traditional corporate structures hamper progress.
Organizational inflexibility; the departmental silos that
discourage cross functional communication, shared processes and pooled
approaches, were named as the number one barrier to consolidation by 67% of
respondents. The research also reveals that ID theft and money laundering
are the financial crimes which give financial institutions the most
widespread cause for concern, named as top three issues by 87% and 86% of
Travelex has signed an agreement to use Norkom’s “Anti-Money Laundering & Compliance” software to service all operations across its group. Norkom’s applications addresses issues such as anti money
laundering, cheque and debit/credit card fraud, identity theft, and the
illegal transfer of funds to named individuals and organizations.
Travelex is a money services organization with offices in 34 countries, corporate relationships in 110 countries, and servicing over 29 million customers each year. Norkom has operations in Ireland & the U.K.
Norkom Technologies has reached an agreement with Travelex to implement its Anti-Money Laundering & Compliance software to service all Travelex operations. Norkom Technologies is a provider of risk management and compliance software used to detect and combat financial crime. Travelex is the world’s largest foreign exchange specialist, with over 700 retail branches serving 29 million customers worldwide.