ME-based WEX has entered into a definitive agreement to acquire Electronic Funds Source for $1.1 billion in cash and 4.0 million shares of common stock to be issued to investment funds affiliated with Warburg Pincus, EFS’ current owner. The acquisition is expected to be immediately accretive to adjusted net income.
In today’s CardFlash News Que: ARIBA (Award); IOFM (Studies); CASHSTAR (Award); and NACHA (Conference).
Loblaw has signed a deal for customer-centric merchandising and marketing strategies with Dallas-based Alliance Data Systems. Loblaw Companies Limited is Canada’s food and pharmacy leader, the nation’s largest retailer, and the majority unitholder of Choice Properties Real Estate Investment Trust. LoyaltyOne is a global leader in the design and implementation of coalition loyalty programs, customer analytics and loyalty services for Fortune 1000 clients around the world. Alliance Data and its combined businesses is a leading global provider of data-driven marketing and loyalty solutions serving large, consumer-based industries.
Fiserv announced that Broadway Bank extended and expanded its relationship, which chose an integrated technology suite consisting of solutions for payments, processing services, risk and compliance, business intelligence and customer and channel management. In addition to Signature, which offers a complete end-to-end solution for account processing, the Fiserv suite for Broadway Bank includes ATM and Credit Processing, the ACCEL/Exchange(R) Network, InformEnt(R), EnAct(TM), Nautilus(R), Aperio(TM), PEP+(R), Financial Crime Risk Management, Mobile Source Capture(TM), Branch Source Capture(TM), Decision Optimization Solutions and Bank Intelligence, as well as solutions for risk and compliance and item processing. The bank also utilizes Sageworks(R) for loan portfolio and credit risk management via a technology partnership with Fiserv.
Fundtech transaction banking solutions launched a hosted version of “Global CASHplus” (GCP) cash management solution. The On-Demand service will allow banks to reduce the costs of hardware, installation, maintenance and manpower while focusing on their core competencies and growing their business. The GCP On-Demand is designed for mid- and small-tier banks looking to offer standardized cash management services such as balance and transaction reporting, payables, receivables and financial supply chain to their corporate customers. This is an extension of GCP, Fundtech’s market-leading cash and treasury management solution offered by banks to their corporate customers. Fundtech operates as an application service provider in North America for payments and cash management services and, through its BBP subsidiary, operates the world’s largest SWIFT service bureau supporting more than 250 clients.
DataCash and Session Digital of Magento partnered on the launch of a DataCash module offering merchants using the Magento platform secure international payments. The Magento eCommerce platform provides over 100,000 merchants globally with a high degree of flexibility and control over the user experience, content and functionality of their online store. Magento Enterprise, the company’s premiere solution, enables mid- to large-sized merchants to build and run fully functional online stores. Merchants can accept secure, international payments through DataCash’s robust payment gateway which processes over one billion transactions each year and prevents over GBP1m of attempted fraud every day. This also provides connectivity into fraud and risk management; multiple integration options; tokenisation; and recurring payments.
Fiserv enhanced its “Signature” bank platform for large to mid-tier U.S. financial institutions to provide solutions for banks to generate new sources of revenue and improve efficiency. With this, Commercial Lending in Signature 11.1 has expanded revenue generation capabilities at the commitment and origination level with new fee options. Also, Signature 11.1 introduces Single Customer View for Signature, a value-added banking service which utilizes service-oriented architecture (SOA) to integrate applications, streamline business processes and align IT. This enables financial institutions to achieve a consolidated view, at a summary level, of all customer accounts within a financial institution. Single Customer View is a key differentiator for financial institutions looking to provide a superior customer experience. Additionally, there is improved convenience for Fiserv-managed cardholder applications and data via Signature and Aperio from Fiserv and a new browser-based user interface (UI), with user-friendly Web page feel and adds significant value to users in terms of training, usability, security and product stability.
Fundtech global transaction banking solutions announced its 34th customer has gone live with one of its SEPA payments processing systems. Fundtech has been a major provider of SEPA payments systems since 2008, with five of the global top 20 banks among its clients.System alternatives, each targeting a specific market segment or need include the “Global PAYplus;” “PAYplus FTS” full-feature payments system;” and “Integration Suite for Payments,” a payments middleware solution that enables banks and their corporate clients to leverage existing payments infrastructure.
PacketMotion User Activity Management (UAM) solutions is deploying its “PacketSentry” UAM solution to address Health Insurance Portability and Accountability Act (HIPAA) compliance regulations. PacketMotion’s “PacketSentry secures PHI and healthcare organizations improve their compliance efforts around important regulations in the healthcare industry, including HIPAA, the HITECH Act, PCI DSS, SOX, and state disclosure laws. With advanced HIPAA reporting capabilities that cut audit report preparation from a week to a matter of hours, PacketSentry delivers a comprehensive solution for healthcare compliance that spans all major databases and platforms, including legacy applications that lack proper audit controls.
Ravensburger games and books is centralizing corporate workflows through Omikron’s “MultiCash Transfer” to meet its specific requirements to build a Payment Factory that can be used across the group and ensure payments could be authorized from separate locations. This consolidates its multibanking solution, designed for Straight-Through-Processing, has been integrated into Ravensburger’s IT landscape, and is SEPA compliant. The “MultiCash Transfer” option also incorporates bank-proprietary delivery channels, which allows access to banks not, or not yet complying with the latest standards.
Hitachi ID Systems has deployed its identity management suite to over 10 million users at over 800 organizations worldwide. In retail, Hitachi ID solutions help some of the world’s leading companies address challenges including PCI compliance, with which they are now required to comply. In doing so, they must implement the use of hard-to-guess passwords, effective controls over access to administrator accounts and more, and assignment of job-appropriate security entitlements. Hitachi ID Systems provides identity management solutions.
RBR research and intelligence firm has concluded NCR holds the #1 market share position for the consecutive 24th year. In its âGlobal ATM Market and Forecasts to 2015â report, RBR confirms NCR as the largest ATM supplier with an installed base market share of 29.5% across North America, Europe, the Middle East, Africa and Asia. The total number of ATMs topped the two million mark for the first time in 2009, with 2,089,524 deployed worldwide. In comparison, only 284,000 ATMs existed 20 years earlier in 1989. The installed base of ATMs continued to grow in the mid- to high- single digits or more in all regions through 2008 and 2009, despite the pervasive market disruptions and challenges encountered by financial institutions in this period.