UK Q2 Spending

Consumer spending is heating up in the UK, posting the strongest quarter for consumer spending in five years. Spending rose +1.4% on an annual basis in June, rounding off the strongest quarter for household spending since Q2 2010. Underlying growth momentum remained strong looking forward.

Russian Deadbeats

The credit performance of Russian consumers reached a seven-year low last month, according to data from FICO, the predictive analytics and decision management software company, and the National Bureau of Credit Histories (NBKI), Russia’s leading credit bureau.

Seasonal Sales

Nearly eight out of ten respondents in a recent poll expect holiday sales to be better than or the same as last year, supporting the National Retail Federation’s forecasting that holiday sales will increase by 4.1% this year. Hiring seasonal employees is another indicator of a positive outlook for the holidays.

Heartland and SP+

Heartland Payments Systems expands into the parking services industry with a major SP+ deal. Heartland is now the largest third party payment network provider in the parking industry. SP+ manages more than 4,200 parking facilities containing approximately 2.1 million parking spaces in hundreds of cities across the U.S. and Canada.

GE Capital and American Eagle Outfitters Extend Long-Term Financing

GE Capital Retail Bank announced a long-term extension of its agreement with American Eagle Outfitters to continue providing private label credit card programs for online, mobile app, and store purchases made at any of the 856 American Eagle Outfitter and 115 Aerie locations across the U.S. As part of the seven-year agreement, GE Capital’s Retail Finance business will continue to manage the American Eagle Outfitters credit card program, which began in 1996. Customers can use their American Eagle Outfitters® and Aerie® credit cards at 856 American Eagle Outfitter and 115 Aerie stores in the U.S. Cardholders can earn a 15% new account discount, $10 Extra Savings coupons, and access to four exclusive cardholder events a year. In addition, cardholders can also earn AERewards program discounts.

NAB Selects NCR Predictive Services for ATM Uptime

NCR announced the National Australia Bank (NAB) will deploy NCR Predictive Services, a unique monitoring solution that predicts ATM hardware failures before they occur in order to maximize ATM uptime and provide a better customer experience. The technology increases ATM uptime by warning of the imminent failure of individual components, enabling repairs or replacements to be made before they put the machine out of service. NAB’s sister bank, Bank of New Zealand, was the world’s first bank to deploy the solution and has enjoyed significant improvements in the performance of its ATM network, including greater availability and lower operational costs. NCR Predictive Services provides detailed error information so that engineers with the right skillsets are dispatched with the right parts, increasing the proportion of faults that are fixed first time. At BNZ, NCR’s predictive technology raised ATM availability to 99 percent.

FIS Inks Seven-Year Outsourcing Mandate

FIS entered into a seven-year agreement with FirstBank Puerto Rico for on-site operational responsibility for the bank’s IT operations and staff. FIS will assume operational control of FirstBank Puerto Rico’s IT operations including hardware and software upgrades, application management, skilled operations personnel, help desk and desktop services. The resulting environment will enable the bank to realize lower operating costs, greater operational efficiencies and full regulatory compliance. The bank will also have access to FIS’ portfolio of industry-leading solutions which will provide top-tier system functionality and assist the bank’s growth strategy as it launches new products and services.