Big Data Solution

Paris-based Atos and US-based NGDATA have introduced a Big Data omni channel solution for banks worldwide. The solution is built on Canopy’s Data Platform and underpinned by big data machine learning capacities, banks can target their customers more effectively, enhance customer loyalty and strengthen their output.

oti sells Intercard System Electronics

On Track Innovations Ltd. (oti) has sold its wholly owned German subsidiary, Intercard System Electronics GmbH, to a private party. Intercard manufactures electronic assemblies and devices, including oti’s NFC readers and other non-oti related products. The sale of Intercard includes an upfront payment of EUR 700,000 to oti and then future debt payments of certain amounts, as well as preferred pricing for Intercard services for the ongoing manufacturing of oti readers.

Citi Provides Administration Services for Credit Suisse

Citi agreed with Credit Suisse’s Asset Management division to provide a comprehensive suite of middle office, custody and hedge fund administration services to support a portion of its US-based Alternative Investments business. Citi will provide custody and back office support for Credit Suisse Asset Management’s proprietary hedge funds. Citi can assist managers in extending and enhancing their operational capabilities so they can refocus resources on core asset management functions. Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture.

Citi Retail Partner Cards Expands Leadership Team

Citi Retail Partner Cards announced an expanded leadership team. With this, Craig Vallorano has been named Executive VP, Business Development and Strategy; Leslie McNamara has been named Executive VP, Partnership Management; Elisabeth “Molly” McCombe has been named Chief Marketing Officer; and Rick Cunningham joins Citi Retail Partner Cards as Executive Vice President, Business Development. The division also announced that Citi Retail Partner Cards will rejoin Citicorp as an autonomous division of North America Consumer Banking. While operating independently, Citi Retail Partner Cards and Citi Cards will continue to share processes that optimize performance and controls.

First Data Shows Transaction Growth Steady

First Data Corporation released its “SpendTrend” analysis for the full month of April 2011 compared to April 2010. Tracking same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations, “SpendTrend” concluded year-over-year transaction and dollar volume growth held steady in April. Transaction growth was 6.7%, identical to March’s growth; dollar volume growth was 8.0% versus 8.1% in March; and year-over-year overall average tickets increased 1.3%, the same level as March. However, the impact of gasoline prices on overall average ticket growth increased in April. Excluding gasoline stations, average tickets were up only 0.5%, compared to 0.7% in March.

AmEx Announces Small Business Workshop Schedule

SCORE and American Express OPEN has opened the curtain on the “Small Business High Speed Growth” multi-city tour schedule. Helping small business owners develop strategies and provide educational and coaching programs on new opportunities for business growth, “Small Business High Speed Growth” expands on the “Small Business Speed Coaching Test Drive” event series to allow participating small business owners to ask questions on a variety of topics ranging from surviving the current economy to finding the “right” customers. With businesses for the first time since 2006 indicating growth takes priority over survival, economic recovery is imminent and reaching Main Street, given 35% are currently seeking to expand their workforce.

The “Small Business High Speed Growth” kicksoff in Washington, DC on May 9, then it’s off to Minneapolis/St. Paul, MN on June 7, followed by Portland, ME on June 21, Orange County, CA on July 13 and in New York, NY sometime in October. Sessions offer small business owners sessions with experienced business coaches from SCORE in roundtable sessions with an experienced SCORE coach discussing issues facing challenges that small businesses face, as well as, exclusive one-on-one evaluations and discussions. The marketing workshop offers an interactive discussion of cost-effective, creative, integrated marketing solutions”including online marketing tactics and everyday promotional resources business owners may not have considered.

Bill.com Deploys Integration with Sage Peachtree

Bill.com paperless bill management and payment for small and medium-sized businesses (SMBs) and CPA firms deployed its “Sage Peachtree Sync” integration. Bill.com’s “Sage Peachtree” one-click, two-way synchronization liberates accountants and SMBs from redundant data entry and provides a simple, powerful and cost-effective solution for managing the entire bill payment and management process, anytime and anywhere through any mobile device or Web browser. This allows Vendor bills and payment processing from the office or in a mobile environment; Paperless multi-user accounts payable (AP) workflow utilizing digital images of invoices and other financial documents for both financial and non-financial users; One-click, flexible payment methods including check, Bill.com ePayment (ACH), and instant payments via PayPal that eliminate the need to print, sign, and mail checks or enter payments in separate banking systems; Enhanced check management with advanced fraud protection previously only available to large enterprise organizations.

Card Penalty Fees Soften in 2010

Card industry advisor R.K. Hammer has released its year-end 2010 results for the credit industry penalty fees assessed during the past year. This is the fourth in the Hammer annual series of seven year-end reports, dealing with all aspects of credit card industry trends: risks, costs, and profits. Some of the report highlights show card penalty fees assessed during 2010 totaled $22.5 Billion in the latest Hammer model. This is down slightly from year-end 2009 of $22.9 Billion. Reasons for the decline include: fewer card accounts on the books due to recent portfolio purges, and delinquency figures improving through 2010. Before 2010, penalty fees in the card business had been on an ever increasing annual climb.