Siris Capital Group is ponying up $840 million to acquire Digital River. Digital River is a major global provider of Commerce-as-a-Service solutions.
Contis Group has signed Ffrees to its fully managed, integrated current account with a Visa debit card and loyalty and rewards program. Contis’ end-to-end service capabilities and next generation Visa e-money platform allows Ffrees to launch a complete reinvention of the current account, enabling families to save as they spend, avoid exorbitant bank charges and take advantage of a variety of innovative money management tools that are available via their online account facility. Since the launch of its new products in October 2013, Ffrees has attracted more than 20,000 customers to its services and continues to issue new accounts at a rate of 200 a day.
Vantiv, Inc. announced an agreement to acquire Mercury Payment Systems, LLC for an aggregate price of $1.65 billion. Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Mercury is currently majority-owned by Silver Lake, a global leader in technology investing.
Wells Fargo & Company and Dillard’s, Inc. announced that the two companies have entered into an agreement for Wells Fargo to fund, issue and service Dillard’s-branded private label and co-brand credit cards. Wells Fargo will also manage the cardholder loyalty program for Dillard’s. The program agreement has a 10-year term and is anticipated to become operational in the fourth quarter of 2014, following the scheduled expiration of Dillard’s current program agreement. Financial terms of the agreement were not disclosed. Dillard’s management believes its earnings from the new program exclusive of startup costs will be comparable to its historical earnings from the Dillard’s branded credit card products and believes that earnings will increase with future program growth.
Chase Sapphire premier travel rewards card launched its 2013 Golf Experience Program offering golf enthusiasts access to two professional golfers. Chase Sapphire’s Golf Experience Program enters its third year and will be hosted by the 2012 U.S. Open Champion, Webb Simpson and renowned professional golfer, Stewart Cink. The experiential program is exclusively for Chase Sapphire cardholders and includes a series of six events in cities across the U.S. this year. Chase Sapphire cardholders can redeem their credit card rewards points to participate in unique golf experiences with Simpson and Cink. Experience packages include a shoulder-to-shoulder walking clinic with one of the professional golfers, personalized swing analysis and a round of golf at one of the country’s most beautiful courses.
Malauzai m-banking SmartApps for community financial institutions launched SmarText capability that provides registered users with access to account balances and recent transaction history without having to perform a traditional login on the mobile application. SmarText combines the convenience and speed of text banking with the enhanced user-experience of mobile app-based banking. The function was developed in response to SmartApp usage data compiled by Malauzai that shows logging in as one of the most challenging tasks in mobile banking, mostly due to mis-typed information. The SmartApp usage data also determined that 76 percent of mobile banking sessions are short, and users only check their balance and transaction history during the time they are logged in. To provide a better user experience, Malauzai worked with City Bank Texas to make these features easily accessible to the bank’s customers.
Bank of America Merrill Lynch today announced Bill Borden has been named managing director and head of North America Product Solutions and Dennis Sweeney has been named managing director and a Treasury Solutions Executive. As head of North America Product Solutions, Borden will manage the North America Product Sales teams that cut across Global Corporate Banking, Global Commercial Banking and Business Banking. He was most recently with Citigroup, where he was responsible for leading the team focused on developing Cash Management and Securities Fund Services relationships with U.S. state and local governments. Sweeney will work closely with various teams and global product leaders to provide senior finance executives at Bank of America Merrill Lynch’s largest global clients with advice, expertise, best practices and trends related to their treasury platforms. He was previously with General Electric for 20 years, most recently as Deputy Treasure.
Bank of America announced that it and Barclays Bank PLC have entered into an agreement with Equity Residential and Lehman Brothers Holdings Inc. pursuant to which Bank of America and Barclays will sell their remaining 26.5 percent interest in Archstone, a privately-held owner, operator and developer of multifamily apartment properties, for a purchase price of…
Clairmail mobile banking and payment solutions has been accepted to the Secured by RSA ® Certified Partner Program and has certified interoperability between its Mobile Banking Solution and RSA Adaptive Authentication software from RSA®, The Security Division of EMC (EMC). This interoperability partnership comes after rigorous RSA certification testing of Clairmail’s Mobile Banking Solution and reinforces Clairmail’s commitment to continually advancing platform security for end users and Financial Institutions (FIs). By expanding their partnership via a thorough testing and certification process of the interoperability of the Clairmail Mobile Banking Solution, Clairmail and RSA are working to mitigate these dangers and stop new mobile risks before they threaten end users, while minimally affecting overall user experience. RSA® Adaptive Authentication software provides Clairmail customers risk-based protection, helping to minimize consumer and financial institution risk by confirming user identities through device identification, user behavior profiling and monitoring fraud data while also working with additional FI and Clairmail-specific resources to further determine suspicious activity.
Golf enthusiasts now have access to two of the PGA’s top golfers with the Chase Sapphire 2012 Golf Experience Program. Chase Card Services, a division of JPMorgan Chase & Co., announced the 2012 Golf Experience program, hosted by celebrated professional golfers Stewart Cink and Webb Simpson. The experiential rewards program is exclusively for Chase Sapphire cardmembers and includes a series of six events in cities across the U.S. this year. Through Chase Ultimate Rewards, Chase Sapphire cardmembers can redeem their credit card rewards points to participate in unique golf experiences with Cink and Simpson. Cardmember experience packages include a shoulder-to-shoulder walking clinic with one of the professional golfers, personalized swing analysis, a round of golf at one of the country’s most prestigious courses and a chance to challenge Cink or Simpson in a “closest to the pin” competition. Through the summer, the program will take place in Philadelphia; Los Angeles; Chicago; New York; Washington, D.C.; and Atlanta.
Federated Investors, the $370 billion asset manager, has chosen the Cadis EDM platform to enhance data management and transparency throughout the organisation. The selection followed a successful 10-day proof of concept (PoC) that highlighted the rapid implementation and EDM capabilities of Cadis. The initial implementation will incorporate securities master data along with holdings, accounts, indices…
American Express, in partnership with VEVO and YouTube, announced its full roster of exclusive fan experiences and enhanced digital features for Grammy® award-winning rock band Coldplay’s performance within the “American Express Unstaged” music series. The show will be streamed globally as a live VEVO event on YouTube from one of Spain’s most famous arenas, Plaza de Toros de Las Ventas in Madrid, at 4:00PM ET / 1:00PM PT on Wednesday, October 26 at www.YouTube.com/ColdplayVEVO with special guest, artist Fedde Le Grand.