Siris Capital Group is ponying up $840 million to acquire Digital River. Digital River is a major global provider of Commerce-as-a-Service solutions.
MasterCard announced its participation the Macquarie Extreme Services Conference in New York. Mastercard will also present at the JPMorgan Global Technology, Media & Telecom Conference in Boston. There will be a listen-only live webcast of each discussion and replays will be archived for 7 days on the investor relations section of www.mastercard.com .
American Express signed an agreement to create a JV for its Global Business Travel division. American Express will share ownership of the JV with an investor group led by Certares, by which American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities that currently comprise GBT,…
American Express Company today announced that it has signed an agreement to create a joint venture for its Global Business Travel division (“GBT”). Under the agreement, American Express will share ownership of the joint venture with an investor group led by Certares. In the proposed transaction, American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities that currently comprise GBT, and will have a 50% ownership stake in the joint venture following the closing. In exchange for an investment of $900 million in the joint venture, the investor group will hold the remaining 50%. American Express initially announced its intention to pursue this joint venture transaction in September 2013.
Monitise has appointed Tim Wade to its Board as Non-Executive Director and Chairman of the Audit Committee with immediate effect. Tim is currently an independent non-executive director of investment firm Resolution and non-executive director of Macquarie Bank International and CEO of Finance Pronto loan processing technology.
Partnering with Macquarie Bank, Jetstar low fare airline has launch its
“Jetstar” low-rate MasterCard credit card. Its first offering beyond
airline and holiday travel, Jetstar is offering consumers a low-rate
through its MasterCard or Platinum MasterCard and ‘Jetstar Dollars’ to
redeem for Jetstar Flight Vouchers on flights to over 50 destinations.
Cardholders accrue one cent in Jetstar Dollars for every dollar spent on
everyday purchases and two cents for every dollar spent on everyday
purchases on the Jetstar Platinum MasterCard. Rated by Canstar Cannex as
the lowest rate credit card on the market, other features of the Jetstar
MasterCard include a zero per cent balance transfer for six months, a
$49 annual fee and up to 55 days interest free.
St George Bank has upgraded its credit card platform to Fidelity
National Information Services’ “Base 2000” software as part of its
initiative to provide service choices to customers. In doing so, St
George joins the list of institution for which FIS provides card
processing in the Pacific Region, including National Australia Bank,
Macquarie Bank, Bank of New Zealand and Krung Thai Card, subsequently
increasing the number of accounts supported by the FIS’ Melbourne office
to over 7 million. St.George retail bank employs over 9,000 associates
while FL-based Fidelity National Information Services provides financial
services to 9,000 financial institutions in more than 80 countries.
Credit Card Compare has launched its credit advice website targeting
Australian consumers. With the country’s total balance of credit and
charge card debt at around the $42.7 billion, over $18 billion in credit
card transactions monthly and an average card debt of nearly $3000 per
Australian household, the website launch comes at an appropriate time.
The Credit Card Compare website makes available credit card reviews, its
“The Credit Letter” blog, personal finance advice, credit card news
items and card products sorted by types, interest, rewards and issuers.
Westpac has bought Virgin Money’s credit card portfolio for $39 million
meaning the two organizations will not be reinstating card agreements,
up for renewal in May of 2008. For the 14 months following these
the payment price will be distributed to Virgin Money, which will not
the credit or debit card market for the time-being. Moreover, the
agreements between Virgin and Westpac concern the card jointly launched in
2003, providing low-interest to 800,000 cardholders for which Westpac
provided funds and back office administration.
ReD Fuel Cards has formed a partnership with Lymm Services, a popular HGV refueling location in the U.K. The fuel operation at Lymm – which is located close to Junction 20 of the M6 in Cheshire – will be fully managed by ReD Fuel Cards. Moto has worked closely with ReD over the past six months testing their ability in running bunkering
fuel sites. ReD’s Card Issuing Operations consist of fuel cards in Australia, the U.K. and Europe and pre-paid card operations also in Australia, the UK and Europe. Moto is owned by Macquarie Bank.
Courion Corporation, a leading provider of self-service identity management
solutions, announced its expansion into Australia, further positioning the
company to meet the growing demand in the global marketplace for
PasswordCourier and ProfileBuilder, its market-leading password and
directory management software. Courion has opened a new office in
Melbourne, Australia, and has signed a value-added reseller agreement with
Planwell Technology (a division of CTI Communications Limited (ASX – CTC)),
Australia’s leading provider of customer service management solutions.
Through leading systems integrators and resellers specializing in service
desk and security products such as Planwell, Courion will provide its
customer-proven identity management solutions to companies throughout
Courion’s PasswordCourier, the industry’s leading self-service
password reset and synchronization solution, and ProfileBuilder, a
self-service directory management solution, eliminate the leading cause of
technical support calls by employees, business partners and customers – the
need to reset forgotten and expired passwords. Both solutions integrate
seamlessly with companies’ existing computing infrastructures including
service management applications from Peregrine, Remedy and PeopleSoft, to
help companies reduce support costs, make service desk operations more
efficient, improve employee productivity and increase security.
As one of the leading companies in Australia focused on all aspects
of customer service technologies, Planwell recognizes the value of
streamlining support operations for employees, business partners and
customers. “Courion’s self-service password and directory management
technology will help our customers reduce costs through call elimination,
while increasing security levels,” said Mike Barraclough, chief executive
officer of CTI. “The market response has been extremely positive as we have
introduced PasswordCourier and ProfileBuilder to enterprises throughout
Australia. Our customers recognize the many benefits that self-service
“Courion has built a roster of top companies in North America across
a wide range of industry verticals by providing innovative solutions that
increase security, reduce support costs and provide quick return on
investment,” said Richard Watson, manager of Australia operations, Courion
Corporation. “Our expansion into Australia is a testament to the increasing
need on a global scale for self-service identity management. Working with
partners like Planwell, we will enable Australian companies to grant
employees faster access to mission-critical systems and applications,
increase security through stronger authentication and more stringent
password policies and improve the efficiency of support organizations, all
at dramatically lower cost.”
About PasswordCourier and ProfileBuilder
PasswordCourier, Courion’s flagship product, is the industry’s
leading self-service password reset and synchronization solution.
PasswordCourier empowers employees, business partners and customers to help
themselves when forgotten or expired passwords prevent access to critical
systems, applications or Web sites. Users can reset, change or synchronize
their own passwords on virtually any enterprise platform or application,
including Windows 9x, Windows NT, Windows 2000, Novell NetWare(R), UNIX,
mainframes, e-commerce applications, directories and databases.
PasswordCourier can be accessed through standard Web browsers, Windows
desktops or telephones for maximum convenience. In addition, native
API-level integration easily adapts to existing computing environments for
maximum flexibility, security and lower total cost of ownership.
ProfileBuilder is a complementary self-service directory management
solution that empowers users to securely register and update their own
profile information directly within corporate or e-business directories for
a more secure and efficient data collection process.
About CTI Communications
A leader in the industry, CTI Communications provides a full range of
innovative customer service solutions that maximize the enterprises
competitiveness by increasing service quality, productivity and customer
loyalty. CTI is headquartered in Sydney, Australia with offices in
Melbourne and Brisbane and its clients include Telstra, GE Capital,
Westpac, Macquarie Bank and St. George.
Courion Corporation provides self-service identity management
solutions to more Fortune 500 enterprises than any other company. IT
organizations and customer service centers choose Courion’s self-service
password and directory management software to reduce support costs,
increase security and improve customer service. Courion’s solutions fully
integrate with existing IT infrastructures and corporate security policies,
enabling companies to scale e-business operations and achieve fast return
on investment. Companies that rely on Courion’s solutions include customers
such as The Bear Stearns Companies, Inc., The Boeing Company, Cummins,
Inc., Dell Computer Corp., ExxonMobil Corp., Raymond James Financial, Inc.
and Target Corporation, and partners such as Compaq Computer Corp., Unisys
Corp. and Peregrine Systems. Courion’s headquarters is in Framingham, MA,
USA, 508-879-8400, with new offices in Melbourne, Australia, +61 (0) 3 9607
8423. For more information visit www.courion.com.
Edify Corporation, a leading global provider of Internet and voice e-Commerce portal solutions, announced Monday that Frost & Sullivan, an international marketing consulting company, has honored Edify with its prestigious “Market Engineering Product Line Strategy Award.” Based on in-depth interviews and analyses of companies in the electronic funds transfer industry, Frost & Sullivan singled out Edify for making a positive contribution by being the first to offer financial institutions with a Consumer Banking Suite supporting bill presentment and bill payment capabilities.
“Such innovation and foresight continues to elevate Edify to the leadership position in the Internet banking space,” said Norvin Leong, an industry analyst at Frost & Sullivan. The company’s consumer-oriented Electronic Banking System covers an array of online banking features and capabilities. This depth in feature set distinguishes Edify from the rest of the field in terms of a product line strategy.”
Edify’s Electronic Banking System (EBS) is a comprehensive direct banking solution that provides financial institutions the means to deploy personalized, content-rich electronic banking services via multiple channels including the Internet, telephone and personal financial management software. EBS Release 3 Consumer Banking Suite consists of the Electronic Banking System platform and 17 standard and optional modules — the two newest of which are Electronic CheckBook and Electronic Bill Payment and Presentment (EBPP) designed for consumer direct banking services. The EBS Release 3 modules were created as an integrated electronic delivery system that provides sophisticated billing and payment management services that work in conjunction with leading third-party consolidators including CheckFree. EBPP brings repeat traffic to the financial institution’s portal site allowing them to proactively offer content and services tailored to the customer’s needs.
“Edify’s consumer banking customers continue to demand aggressive and thorough bill presentment and payment solutions,” said Jeffrey M. Crowe, president and CEO of Edify Corporation. “The Frost & Sullivan award strongly confirms our leadership position. We will continue to innovate and offer groundbreaking products to further raise the bar and shape the direction of the online financial industry.”
In just two months since its introduction in April 1999, the Consumer Banking Suite has been licensed by over 115 financial institutions. These Edify customers range from the top 100 U.S. banks including Chase Manhattan, First Merchants and Mercantile Bank to a number of regional credit unions such as Boeing Credit Union, American Electronics Association Credit Union and Rockwell Credit Union. Edify’s Consumer Banking Suite is also used by international banks in countries such as Australia (ANZ Bank, Bendigo Bank, Macquarie Bank, BankWest), New Zealand (Countrywide) and Italy (Banca di Roma, Cassa di Risparmio Perugia) as well as Internet-only banks like [email protected] and CompuBank.
Market Engineering Awards are based on Frost & Sullivan’s research and consulting work in the U.S. Electronic Funds Transfer Software industry in 1998. Winners are selected from an in-depth analysis of the market competitors and interviews with those companies that make up the industry. The Frost & Sullivan research management team has reviewed these awards and the criteria used to select the winners to ensure that the competition and award system are as fair as possible given the subjective nature of market analysis and competitive assessment.
About Frost & Sullivan
Frost & Sullivan is an international marketing consulting and company that monitors the information technology industry for market trends, market measurements and strategies. This ongoing research is utilized to update a series of online research publications such as Banking, Financial and Retail Custom Subscription () and to support industry participants with customized consulting needs. Additional information about Frost & Sullivan can be obtained at .
Edify Corporation is a global leader providing Internet and voice e-Commerce portal solutions to intelligently manage customer relationships. The company’s software offers organizations the means to automate, integrate, and personalize interactions with customers through multiple channels, yielding stronger, more profitable relationships. The company’s software has been licensed to more than 1,250 organizations worldwide. Edify software is distributed directly and through leading solutions providers, application partners and distributors around the globe. With more than 470 employees, Edify Corporation is headquartered in Santa Clara, Calif. with international headquarters in London, England. On May 17, 1999, Edify Corporation announced that it has entered into an agreement to be acquired by Security First Technologies of Atlanta, Georgia (Nasdaq: SONE). Additional information about Edify may be obtained by calling 408-982-2000 (USA) or +44-181-263-2710 (Europe, Middle East, Africa) or via the World Wide Web at .
Forward Looking Statements
The matters set forth in this press release, such as statements relating to EBS and the Consumer and Business Banking Suites and other products and services are forward looking and are subject to a number of risk and uncertainties that could cause actual results to differ materially. Although on-line banking has been available in various forms for many years, there can be no assurance that consumers will accept on-line banking over the Internet or the company’s products, including EBS, in sufficient numbers to make on-line banking or the company’s products successful. In addition, given the uncertainties of software development, there can be no assurance that the company’s products will be implemented in the anticipated time frames or with the anticipated features, functionality or benefits. Further information on the important factors that could affect the results or outcomes discussed in the forward-looking statements is included in Edify’s Annual Report on the Form 10-K and its other reports filed from time to time with the Securities and Exchange Commission.