LendingTree, the nation’s leading online loan marketplace, has announced a series of senior executive appointments to fully align the company’s management team for rapid scale and to leverage new growth opportunities.
Computer Sciences Corporation announced this morning that Deutsche Bank AG in Germany has become the first issuer to implement CSC’s ‘Card and Merchant System II’ software. ‘CAMS II’ processes all operations for the entire card business, including automated security and authorization functions. The system authorizes new applicants, creates and dispatches PIN numbers and cards, and handles complete transactions every time a card is used — including automatically deducting fees payable, crediting retailers with the remainder due and accumulating loyalty awards for individual accounts. ‘CAMS II’ also has the capacity to process 64,000 simultaneous card swipes. The ‘CAMS II’ software was first released in Feb. 1998 after 150 man-years of development effort to re-architect the previous version of ‘CAMS’, gearing it toward a relational ‘DB2′ environment.’ The Deutsche Bank implementation covers more than 640,000 credit cards. Two additional ‘CAMS II’ implementations are scheduled for completion this year.