Chase Ink Makeover
Ink from Chase, the Business Card portfolio from Chase Card Services, announced the rebrand and redesign of its Jot mobile application to the Ink app.
U.S. Middle Market
Slightly more than one in five dollars (21%) of U.S. business revenues come from the middle market, and these firms employ over one in four workers (28%) in the private sector. Middle market companies have led job growth since 2008, with a 4.4% increase in private sector employment”outperforming both smaller businesses (less than $10 million in revenues) and the largest companies (more than $1 billion in revenues).
NationalLink Recognized As a Top 50 Minority-Owned Business
The Los Angeles Business Journal announced its Top 50 Minority-Owned businesses in Los Angeles County this month. NationalLink, a leading provider of Automated Teller Machine (ATM) solutions from transaction processing to field service and repair, ranked No. 24 on the list, with an annualized growth rate of 14%. Information about the Los Angeles Business Journal Top 50 list is currently available on its website. NationalLink offers the latest in transaction processing, ATM fleet and portfolio management, armored car delivery and field service and repair. NationalLink has grown over the past 15 years to be a network of over 10,000 ATMs.
FIS Executive VP, Finance Steps Down
George P. Scanlon, executive VP of finance with FIS payments, is leaving the company to accept the role of COO with Fidelity National Financial. Scanlon served as chief financial officer of FIS from July 2008 through September 2009, and has served in his present role since the acquisition of Metavante Technologies, Inc., on October 1, 2009. FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network.
AmEx OPEN Heads to Seattle for Awards
The American Express OPEN “Make Mine a Million $ Business” program visited
Seattle to
award eight new woman-owned small businesses who reached $1 million in
revenues.
More than 200 applications from Washington, Alaska, Idaho, Montana and
Oregon were submitted in hopes of becoming one of the 16 finalists in
Seattle. Each finalist took the hot seat and delivered their
âelevator pitchesâ in front of a live audience and a panel of judges who
later voted to select eight awardees. These eight new entrepreneurs
raise the total class of Make Mine a Million $ Business awardees across
the U.S. to 140, including 29 who crossed the million dollar threshold
in 2007. The Make Mine a Million $ Business program provides a proven
combination
of money, mentoring, marketing and technology tools that women
entrepreneurs need to help grow their businesses, with a growing
community of more than 55,000 women entrepreneurs from across the
country.
BofA and Visa Renew Olympic Prepaid Card
As the U.S. Olympic team heads for Beijing this month, not a single athlete or staff member will be without a Visa-branded prepaid card in his or her wallet. Bank of America and Visa have resurrected the Visa prepaid card for the U.S Olympic and Paralympic Games participants and staff. BofA, a U.S. Olympic Team sponsor since 1992, is the exclusive issuer of the Visa prepaid card for the second time, which is being offered to the entire USOC delegation for the Olympic and Paralympic Games, including more than 800 American athletes. Visa is the “Official Payment Services Brand” of the U.S. Olympic Team. The prepaid card is identifiable by the image of a U.S. flag as well as the Olympic rings and the Visa logo. BofA and Visa say the cards will help reduce administrative and processing expenses for the USOC.
BOFA EUROPE
Bank of America has appointed Ian O’Doherty Europe card services
executive to oversee card services businesses in Ireland, United
Kingdom, Spain and expansion efforts into other European markets. Ian
graduated from University College Dublin with a major in Civil
Engineering, the University of Missouri with a master’s degree in
Structural Engineering and Boston College with a master’s degree in
Business Administration. O’Doherty comes to the position from the role
of Ireland Country Executive to manage expansion of MBNA Ireland card
operations, the brand under which Europe Card Services operates.
Moreover, Europe Card Services was established in 1993, provides credit
cards for over 900 organizations across Europe and employs 5,000
associates while Bank of America serves over 59 million consumers and
small businesses.
BofA Targets Texas Longhorns Students
As an official corporate sponsor of UT Athletics Longhorn Sports Network, Bank of America has introduced checking, check cards and credit card product options to appeal to Texas Longhorns students, alumni and fans. To mark the new product launch, Bank of America will be hosting an autograph signing session with UT Head Football Coach Mack Brown at its Austin banking center, to which the public is invited. Offering customized checks, Visa-branded Check Cards, MasterCard-branded credit cards and its “Keep the Change” savings program, Bank of America is encouraging consumers to sign up at any of the participating 5,700 banking centers, at select home UT Athletics events or online at http://www.bankofamerica.com/texasexes . Bank of America serves over 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,500 ATMs and online banking for 25 million active users.
BofA Lands the Virgin Co-Branded Credit Card
After several years of probing the U.S. market, Virgin Atlantic Airways has finally teamed with Bank of America to launch the “Virgin Atlantic American Express Card.” Under the new program Virgin is offering a “White” and a “Black” card. Both co-branded cards offer three miles for every $1 spent on Virgin Atlantic purchases. The “White Card,” which has a $49 annual fee, offers one mile for every dollar in purchases, while the “Black Card,” with a $90 annual fee, enables cardholders to earn 1.5 miles per dollar spent in purchases with more opportunities to earn bonus miles. The new program also offers a 20,000 bonus miles after the first purchase, plus up to 15,000 annual bonus miles with a $25,000 spend and up to 5,000 bonus miles for additional cards. Additionally, cardholders earn one tier point for every $2,500 in purchases and additional tier points when flying Virgin Atlantic toward “Flying Club” status. There is also a 10% discount on published Virgin Atlantic “Premium Economy fares” through December 31st. Between now and the end of January 2009, for every $10,000 in spend, a cardholder is automatically entered for a chance to win a trip into space on “Virgin Galactic.”
BofA Tops One Million Mobile Banking Customers
Bank of America now has more than one million unique “Mobile Banking” customers, one year after its introduction in May 2007. “Mobile Banking” allows customers to check balances, pay bills, transfer funds, view posted and pending transactions and even locate banking centers and ATMs. Almost all customers use Bank of America’s “Mobile Banking” service to view account balances, eight in ten review transactions, while four in ten use their handhelds to transfer funds or pay bills. Frequency of use by active users continues to increase monthly, with over 4 million account sessions in May 2008 alone. Two-thirds of Bank of America’s mobile bankers are under 35 years old and four out of five are under 45 years old, as Gen Y and X consumers who have embraced mobile web technology are similarly driving mobile banking usage.
BofA Extends the Dallas Cowboys Contract
Bank of America and the Dallas Cowboys have announced a new multi-year sponsorship agreement. The 10-year agreement ensures that Bank of America will remain the Official Bank of the Dallas Cowboys and the club’s new stadium through 2019. Financial terms of the agreement were not disclosed. Under the new agreement which begins with the 2009 season, Bank of America will receive exclusive rights in the banking category; use of the Cowboys logo and other team marks in TV, radio, print and online advertising; stadium tickets and a corporate suite; in-stadium signage, ATMs and hospitality; a Dallas Cowboys fantasy camp for customers and clients; and extensive onsite advertising and tabling to promote the bank’s popular Dallas Cowboys Banking and Extra Points rewards program.
BOFA/HUIJIN
NC-based Bank of America has announced it will be exercising its option
to purchase further China Construction Bank (CCB) common shares under
the existing agreement with Huijin first signed in June of 2005. With
this, Bank of America intends to purchase 6 billion H-shares for
approximately HK$2.42 per share, bringing its holding in CCB to 10.75%,
a total of 25.1 billion H-shares, up from an 8.2% holding. Additional
terms of the agreement stipulate the shares can not be sold prior to
August 29, 2011 without prior consent of CCB while Bank of America has
the option to purchase additional shares. Bank of America provides over
59 million account holders service through its more than 6,100 retail
banking offices in more than 150 countries, nearly 18,500 ATMs and
online banking service with nearly 25 million active users.