American Management Systems said Wednesday it has successfully implemented a credit card transaction processing and reconciliation system for the U.S. General Services Administration. The Web-based application, which was rolled out to about 7,000 GSA credit card users nationwide in June 2001, is a module of Pegasys, GSA’s implementation of the AMS ‘Momentum Financial Management System’. Pegasys is replacing GSA’s legacy financial accounting system, ‘NEAR’, which had been in use for more than 20 years and was not compliant with government-mandated and JFMIP accounting requirements. The Pegasys credit card subsystem allows for flexible processing and enables automated credit card reconciliation. The subsystem also features online logging of purchases and unlimited cost transfers/edits.
Capital One Financial Corp. announced the appointment of Dorothy Broadman to Director of Corporate Citizenship. Broadman joins Capital One from the California Federal Bank (Cal Fed) where she managed the bank’s community development department.
Broadman will oversee the management of Capital One’s community affairs, philanthropy, volunteerism, non-profit partnership programs, financial education programs and community development lending and investments, as well as the company’s compliance with the Community Reinvestment Act (CRA).
The Federal Reserve Board recently appointed Broadman the 2002 Chair of the Board of Governor’s Consumer Advisory Council, which advises the Fed on consumer matters, including privacy, consumer protection laws, and CRA. She served as Vice Chair of the Council in 2001.
“Our communities provide us with associates who are key to our achievements, customers who are the bedrock of our business, resources that allow our business to thrive, and support that enable us to operate,” said Nigel W. Morris, Capital One’s President and Chief Operating Officer. “Our commitment to our communities is deep, combining the real strength of Capital One — our associates — with financial resources to provide long-term support to programs that help children at-risk.”
“We created the position of Director of Corporate Citizenship to build on our successful community programs and achieve greater synergy between our volunteerism, philanthropy and community investments,” said Richard A. Woods, Capital One’s Senior Vice President for Corporate Communications, which includes Corporate Citizenship. “Dorothy is the ideal candidate for the position.”
At Cal Fed, Broadman was responsible for customer diversity, community outreach/corporate giving, community development loans and investments, and CRA compliance. Earlier in her career at Cal Fed, Broadman managed the affordable multifamily lending unit. Broadman served in CRA and market-rate commercial real estate lending positions at Citibank and Wells Fargo Bank before joining Cal Fed in 1989.
Broadman currently serves on the Consumer Bankers Association Community Reinvestment Committee, is a member of the Board of Directors of the Low Income Housing Fund, and is a member of the Board of Directors and Chair of the Regulatory/Legislative Committee of the National Association of Affordable Housing Lenders (NAAHL).
Broadman earned a M.B.A. from the University of California at Berkeley and a B.A. from Tufts University with summa cum laude honors and membership in the Phi Beta Kappa Society.
Headquartered in Falls Church, Virginia, Capital One Financial Corporation ([http://www.capitalone.com] e.com/> ) is a holding company whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer consumer lending products. Capital One’s subsidiaries collectively had 43.8 million customers and $45.3 billion in managed loans outstanding as of December 31, 2001. Capital One, a Fortune 500 company, is one of the largest providers of MasterCard and Visa credit cards in the world. Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 500 index.
For the second year in a row, Capital One Financial Corporation ranked as one of the best companies in America for training and developing its employees according to Training magazine’s listing of the Training Top 100. Capital One ranked second this year after topping the list in 2001. This honor comes on the heels of Capital One’s fourth consecutive year in Fortune’s listing of the “100 Best Companies to Work for in America.”
“In large measure, we owe our success at Capital One to our ability to hire talented people, give them challenging work in an entrepreneurial environment, and constantly push them to reach beyond their limits,” said Dennis Liberson, Executive Vice President for Human Resources.
The Training Top 100 ranks companies according to their level of investment in workforce development. The ranking is determined by assessing a range of qualitative and quantitative data including financial investment in employee development, the type and scope of training and development programs provided to employees, the quality of these programs and how closely such development efforts are linked to business goals and objectives.
“Even in these less-than-stellar economic times, Capital One is among those select companies that has raised the bar with its training initiatives,” said Tammy Galvin, executive editor of Training magazine. “Capital One has embraced training and workforce development as a mission-critical strategy, and accordingly, has dedicated significant resources to its training efforts.”
Capital One employs more than 20,000 associates worldwide. Among the programs that differentiate the company from other employers are the associate selection process; a number of ongoing training and development courses; outstanding benefits, including three weeks vacation; and performance-driven entrepreneurial compensation.
Capital One has operations in Richmond, Fredericksburg and Falls Church, Virginia; Dallas, Fort Worth and Plano, Texas; Tampa, Florida; Federal Way, Washington; Boise, Idaho; San Francisco, California; and Boston, Massachusetts; as well as London and Nottingham, United Kingdom and Paris, France.
Headquartered in Falls Church, Virginia, Capital One Financial Corporation ([http://www.capitalone.com]) is a holding company whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer consumer lending products. Capital One’s subsidiaries collectively had 43.8 million customers and $45.3 billion in managed loans outstanding as of December 31, 2001. Capital One, a Fortune 500 company, is one of the largest providers of MasterCard and Visa credit cards in the world. Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 500 index.
A FL-based non-profit, credit counseling service released a poll this morning that shows three-fourths of Americans say debts are making their home lives unhappy and 45% have a debt-to-income ratio of 50% or more.The online survey of 5,000 participants, also found that 80% of consumers state that their credit cards are at or near their maximum credit limit, and that 37% have taken cash advances from one credit card to make monthly payments on another credit card. More than seven out of ten consumers pay the minimum amount due on credit cards each month, according to the survey. Consolidated Credit Counseling Services, Inc. also found that 56% fear that their employer, family or friends will find out the magnitude of their debt, 50% of participants do not have a savings account, and 92% do not have an emergency fund for 3 months of living expenses. Meanwhile, a survey conducted by ‘Money Wi$e’, a joint partnership of San Francisco-based Consumer Action and VA-based Capital One, found that 57% of adults are tightening their purse strings, with 66% willing to take a second job, and more than 70% cutting back on dining out and vacations. In addition, while most Americans would cut back on leisure spending, 38% would consider cashing out CDs, stocks or bonds, and some would stop depositing into savings and retirement accounts.
Global payments leader First Data Corp. announced that its card issuing services subsidiary, First Data Resources, has signed a five-year agreement to process retail private-label cards for The Dunlap Company, a Fort Worth-based department store chain. Under the agreement, First Data will provide a full range of transaction processing and portfolio management services, including call center support, for The Dunlap Company.
âAs First Data continues to expand our retail presence, we look forward to working with The Dunlap Company,â said Eula L. Adams, senior executive vice president and head of worldwide card operations for First Data. âWe’re pleased that The Dunlap Company recognizes the competitive edge that First Data provides to help retailers build customer loyalty and increase profits.â The Dunlap Company, which also receives merchant processing services through First Data Merchant Services, has more than 50 stores nationwide.
âWe selected First Data because of their commitment to the retail industry and the strong retail-specific functionality they offer,â said Eddie Martin, executive vice president of The Dunlap Company. âFirst Dataâs business solutions will help Dunlapâs centralize operations and deliver robust credit options for our customers.â
About The Dunlap Company
Headquartered in Ft. Worth, Texas, The Dunlap Company is a specialty department store chain with over 50 locations throughout Alabama, Arizona, Arkansas, Colorado, Kansas, Louisiana, Maine, Michigan, New Mexico, Oklahoma, Texas and Virginia. The Dunlap Companyâs department stores operate under the name Dunlaps and 16 other names.
About First Data
First Data Resources, the card issuing services subsidiary of First Data Corp., processes for 312 million accounts on file around the world. First Data Corp. (NYSE: FDC), with global headquarters in Denver, powers the global economy. As the leader in electronic commerce and payment services, First Data serves approximately 2.8 million merchant locations, 1,400 card issuers and millions of consumers, making it easier, faster and more secure for people and businesses to buy goods and services using virtually any form of payment. With 29,000 employees worldwide, the company provides credit, debit, smart card and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; Western UnionÂ® money transfers and money orders; and check processing and verification services throughout the United States, United Kingdom, Australia, Canada, Mexico, Spain and Germany. Its money transfer agent network includes approximately 120,000 locations in more than 185 countries and territories. For more information, please visit the company’s Web site at [www.firstdata.com].
Target Stores has named 100 schools from across the country to receive a total of $500,000 in grants. Target will award $5,000 grants to what it has dubbed the “Target Honor Roll 100,” the 100 schools that have raised the most money per enrolled student in the Target School Fundraising program during the fall of 2001.
Target will host representatives from all 100 schools at a special “Target Honor Roll 100” ceremony in Washington, D.C. on April 20. Award recipients will bring the grants back to their school to spend on anything the school may need. As a part of the Target School Fundraising program, the grant money may be spent at the discretion of each school.
With School Fundraising, families, friends and community members can designate the eligible K-12 school of their choice to receive an amount equal to one percent of their Target(R) Visa(R) and Target Guest Card(R) purchases* at Target Stores and on target.com. Target also donates 1/2 percent of all Target Visa Card purchases made everywhere else.
In addition, Target will donate more than $10 million to schools nationwide in March, bringing the total donations to America’s schools to more than $51 million since the program began in 1997. Currently, more than six million guests have selected a school to receive School Fundraising dollars, and more than 114,000 schools are enrolled in the program.
The School Fundraising program is part of the Take Charge of Education(TM) initiative, which also offers scholarships and grants. Target Guests can enroll their school by calling 1-800-316-6142, or by visiting the Target Stores Web site at target.com.
About Target Stores
Minneapolis-based Target Stores serves guests at 1,019 stores in 46 states nationwide by delivering today’s best retail trends at affordable prices. Whether visiting a Target store or shopping online at target.com, guests enjoy a fun and convenient shopping experience with access to thousands of unique and highly differentiated items. The largest division of Target Corporation (NYSE: TGT), Target Stores gives back more than $1 million a week to its local communities through grants and special programs. Since opening its first store in 1962, Target has partnered with nonprofit organizations, guests and team members to help meet community needs.
*The Target Guest Card(R) and Target Visa(R) Card are credit cards issued by Retailers National Bank, an affiliate of Target. Subject to credit approval. Subject to School Fundraising program rules.
The Target Honor Roll 100
School City State
— ABCS Little Canyon School Glendale AZ
— Desert Voices Oral Learning Center Phoenix AZ
— Laurent Clerc Elementary Tucson AZ
— Thomas J. Pappas School Phoenix AZ
— Aldea School Napa CA
— ACTS Christian School Merced CA
— Adventist Christian School Galt CA
— Chamberlains Acres School Hollister CA
— Fulton School Fresno CA
— Pinecrest Elementary Pinecrest CA
— Victress Bower School Norco CA
— Yosemite Park High School El Portal CA
— Columbine High School Littleton CO
— Loveland Center School Venice FL
— Munson Elementary School Milton FL
— The Victory School North Miami Beach FL
— Nevada SDA School Nevada IA
— Newman Catholic High School Mason City IA
— North Iowa Christian School Clear Lake IA
— Ottumwa Christian School Ottumwa IA
— Champaign SDA School Champaign IL
— Childs Voice School Elmhurst IL
— Downers Grove SDA Downers Grove IL
— Laureate Day School Des Plaines IL
— Progressive Path School McHenry IL
— Salina SDA School Salina KS
— Highland Presbyterian Louisville KY
— Louisville Deaf Oral School Louisville KY
— Clonlara Private School Ann Arbor MI
— Copper Harbor School Copper Harbor MI
— Holy Trinity Lutheran School Wyoming MI
— Mount Pleasant SDA School Mount Pleasant MI
— Plymouth SDA School Plymouth MI
— St. Joseph School Port Huron MI
School City State
— Academy of Holy Angels Richfield MN
— Austin Pacelli High School Austin MN
— Birch Grove Elementary School Tofte MN
— Bush Memorial St. Paul MN
— Church of St. Andrew School Elk River MN
— Family of Christ Lutheran Baxter MN
— Groves Academy St. Louis Park MN
— Guardian Angels School Chaska MN
— Hanska Community School Hanska MN
— Heartland Christian Academy Bemidji MN
— Holland Elementary Minneapolis MN
— Immaculate Conception School Minneapolis MN
— King of Kings Lutheran School St. Paul MN
— Laura Baker School Northfield MN
— Learning Center for Children Minneapolis MN
— Marquette Elementary School Virginia MN
— Minnetonka Montessori School Excelsior MN
— Most Holy Trinity School St. Louis Park MN
— New Ulm Christian New Ulm MN
— Northern Voices School Roseville MN
— Our Lady of the Prairie School Belle Plaine MN
— Our Savior Lutheran School Excelsior MN
— Prairie Creek Community School Northfield MN
— Ronald McDonald House School Minneapolis MN
— Southwest Christian High Chaska MN
— St. Andrew School Fairfax MN
— St. Anne School Le Sueur MN
— St. Bartholomew School Wayzata MN
— St. Bernard School Cologne MN
The Target Honor Roll 100 – Cont.
School City State
— St. Dominic School Northfield MN
— St. Hubert School Chanhassen MN
— St. Isidore Elementary Owatonna MN
— St. Johns Lutheran School Chaska MN
— St. John the Baptist School Excelsior MN
— St. John the Baptist School New Brighton MN
— St. John The Baptist School Vermillion MN
— St. Josephs School Grand Rapids MN
— St. Joseph School Red Lake Falls MN
— St. Joseph School Waconia MN
— St. Marys School Alexandria MN
— St. Mary School New Trier MN
— St. Peter School Delano MN
— St. Philip School _ Litchfield MN
— Summit School Duluth MN
— Johnston School Hammond MT
— St. Columbkille School Papillion NE
— Parkview Elementary School Milltown NJ
— Princeton Child Development Princeton NJ
— Little Earth School Santa Fe NM
— Carson City Adventist School Carson City NV
— Our Lady of Black Rock School Buffalo NY
— Montessori Center Room Cincinnati OH
— Lake Preston High School Lake Preston SD
— Watertown Christian School Watertown SD
— Memphis Oral School for the Deaf Memphis TN
— Kiest Park Christian Academy Dallas TX
— The Center for Hearing Speech Houston TX
— Halls Crossing School Lake Powell UT
— St. Coletta Day School Milwaukee WI
— L. E. Mason Christian Academy Cheyenne WY
— Tuckahoe Elementary School Arlington VA
— Boxelder Elementary School Glenrock WY
— La Pointe Elementary La Pointe WI
— Madison Seventh Day Adventist Madison WI
Upgrade International announced that UltraCard, Inc., a subsidiary of Upgrade, has signed a letter of intent with Giesecke & Devrient to form a strategic alliance for global manufacturing, marketing, and the development of new application and operating system software based upon the UltraCard technology platform.
The companies expect to complete a definitive agreement within the next 45 days.
Under this relationship, G&D will be the exclusive provider to UltraCard for card body design, assembly, production, embedding, initialization and personalization for the UltraCard. The pact also outlines joint efforts in product development and marketing for both companies’ products. G&D’s North American Headquarters is situated in Dulles, Virginia and UltraCard’s facility is in Los Gatos, California.
Over the last six months the global demand for high capacity, high security, and portable data storage has increased dramatically. Many organizations such as government, airline security, customs and immigration, transportation, health care, and industrial firms are searching for solutions that will enable them to conveniently store multiple levels of secure data in a credit card sized format. They are looking for technology that will also allow them to incorporate a variety of biometrics and other identification options, including complete fingerprints, iris scans, voice prints, photographs, digital signatures, and encryption keys. The new strategic alliance between G&D and UltraCard will provide the solution for the growing demand for card storage capacity and functionality. UltraCard’s patented method combines 20 megabytes of hard disk storage technology with an inexpensive read/write device in a highly durable credit card format. This combination will become the next generation in personal portable data storage with high levels of security and a vastly greater amount of storage at the lowest cost in the industry. When integrated with existing chip card and magnetic stripe card technology it opens up dramatic new application possibilities. According to Dan Kehoe, president and CEO of UltraCard, “Having an established global company of the magnitude of G&D as a partner will rapidly advance commercialization of the UltraCard. Furthermore, we consider G&D to be the premier company in the world in terms of quality card manufacturing and implementation of card solutions. We are thrilled and honored to be working with G&D and expect to have a long and fruitful relationship.” The UltraCard will enhance and augment G&D’s already extensive global offering of cards and card solutions currently used in over 80 countries worldwide. G&D is consistently ranked among the top three chip card manufacturers in the world, and was ranked as the number one provider of microprocessor cards worldwide by the Nilson Consumer Payment Report. Jim Frye, President, G&D Card Systems, United States and Canada, remarks, “G&D is dedicated to developing leading card innovations and solutions for the global marketplace. We are delighted to form this alliance with UltraCard, a recognized leading edge developer of portable data storage platforms. The extraordinary 20-megabyte storage capacity of the UltraCard technology will allow for many new and exciting end-to-end solutions, and delivers a new value-added software capability in the card industry.”
About Giesecke & Devrient:
Giesecke & Devrient is an internationally operating technology group. The organization is a leading supplier of banknotes and security documents, banknote and security paper and currency automation systems as well as cards, components and complete multi-functional smart card systems for electronic payments and telecommunications. The group also offers end-to-end solutions for security in eBusiness. Giesecke & Devrient employs over 7,100 people worldwide, and generates an annual revenue in excess of 1 Billion U.S. dollars. The North American headquarters of Giesecke & Devrient, located in Dulles, Virginia, houses the R&D technology center, sales, marketing and production facilities for both smart cards and currency automation systems. In addition, G&D operates full service card manufacturing facilities in Twinsburg, Ohio, Markham, Canada, and Mexico City, Mexico that are certified by both VISA and MasterCard. These four facilities employ over 900 staff and the combined production capacity makes G&D one of the largest of any North American cards and card systems manufacturers.
For further information contact: John Atkinson, VP & General Manager of Smart Cards, United States and Canada Giesecke & Devrient America, Inc. 45925 Horseshoe Drive, Dulles, VA 20166 USA Phone 703/480-2000, Fax 703/480-2067[http://www.gdai.com]
About Upgrade International
Upgrade International Corp. through its ownership interest in UltraCard Inc., Efornet Corp., and cQue Corporation is engaged in the development and commercialization of a patented ultra high capacity portable data storage technology. UltraCard’s patented method for using existing hard disk storage technology provides both highly durable media in a credit card format and an inexpensive read/write device that together will become the next generation in personal portable data storage for a broad range of existing and new markets. Management believes that the UltraCard technology will potentially provide numerous industrial users with a combination of high levels of security and a vastly greater amount of personal transportable data storage at the lowest cost in the industry. In addition the acquisition and development of existing SmartCard solution providers represents a strategic market strategy designed to accelerate the integration of the vastly superior technology inherent in the UltraCard into existing and newly developing markets.
On behalf of the Board of Directors,
Daniel S. Bland
President and Chief Executive Officer
Capital One has landed the TJX co-branded credit card contract and will begin issuing the card next month. TJX Companies formerly issued the co-branded card through CT-based People’s Bank. The card will be available in 1,400 T.J. Maxx, Marshalls, HomeGoods and A.J. Wright across the country beginning March 1st. Under the program cardholders will earn 5% rewards on TJX purchases and 1% for all other purchases. Rewards are issued to cardholders as they are earned in $10 increments. Pricing details have not been released. TJX operates 688 T.J. Maxx, 582 Marshalls, 112 HomeGoods and 45 A.J. Wright stores in the United States. (CF Library 8/22/97)
InteliData Technologies a leading provider of Internet-based financial services and electronic bill payment and presentment software, announced that Karen Gilhooly will join the company as Vice President and General Manager of its Card Solutions group based in Omaha, Nebraska. Gilhooly will focus on revenue generation and managing the relationship with InteliData’s strategic partner, First Data Resources, also based in Omaha.
The InteliData Card Solutions division provides online solutions for the top credit card issuers in the card industry. This set of solutions affords the credit card holder the ability to monitor accounts and pay bills online.
“We are delighted to have Karen join our management team,” said Al Dominick, President and CEO of InteliData. “We believe her strong background in this industry will help build InteliData Card Solutions’ customer base, as Card issuers look to take advantage of the significant technological enhancements we’ve continued to make in our Card Solutions product.”
Gilhooly brings with her almost 20 years of experience in the banking technology industry. She most recently served as Senior Vice President and COO of Electronic Billing Systems for Princeton eCom. During her career she has held numerous positions with Citibank and Citicorp. She was also employed by Thomas Cook Financial Services.
InteliData delivers EBPP products to banks, credit unions and financial institution processors. InteliData provides solutions that power financial institutions’ Internet banking, payment and presentment and online credit and bankcard transactions.
Headquartered in Reston, Virginia, USA, InteliData is publicly traded (Nasdaq: INTD) and its business partners include Spectrum EBP, ALLTEL and other industry leaders. For more information, visit the company’s web site at .
Drexler Technology Corporation has received a $1.6 million order for multi-biometric LaserCard ID cards for a new customer. The card order was received through a value-added reseller and systems integrator, Information Spectrum, Inc. (www.informationspectrum.com), of Annandale, Virginia.
The $1.6 million LaserCard order calls for deliveries of 70,000 optical memory ID cards per month for five months starting in June 2002.
Drexler Technology does not have authorization to publicly disclose the customer’s name or the specific customer application.
Headquartered in Mountain View, Drexler Technology Corporation ([www.lasercard.com]) develops and manufactures optical data storage products and systems, including LaserCard(R) optical memory cards and chip-ready Smart/Optical(TM) cards — a combination of optical memory card and smart card.
Drexler’s wholly owned subsidiary, LaserCard Systems Corporation, makes optical card read/write drives, develops optical card system software, and markets card-related data systems and peripherals. In addition to cards made for the U.S. Immigration and Naturalization Service and the U.S. Department of State, the Company also supplies optical memory cards to other customers, such as the U.S. Department of Defense, the Government of Italy, and a state government of India.
For the fourth year in a row, Capital One ranked in Fortune’s listing of the “100 Best Companies to Work for in America.” Capital One ranks 32 and is the top Virginia-based company. Capital One is also recognized as one of the top “25 Best Places to Work for Women”, according to the listing. Fortune culled 279 companies as the most viable candidates for this list. Two-thirds of the score is based on survey responses from randomly chosen Capital One associates. That survey is designed to evaluate trust in management, pride in work and camaraderie. Capital One employs more than 20,000 associates worldwide.
MagTek’s IntelliPIN technology recently enabled Navy Federal, the world’s largest credit union, to update their member verification process.
Now credit union members can securely and conveniently swipe their ATM cards or check cards and enter PINs directly at the teller window. The new verification process saves time and provides additional security when identifying members at the teller window.
MagTek’s IntelliPIN verifies PINs and allows tellers immediate access to member information for smoother transactions and faster member service. IntelliPIN can also capture information from the magnetic stripe on a driver’s license or other ID card to make any personal identification process more reliable and efficient, although Navy Federal does not use this feature as part of its member identification process.
IntelliPIN supports both standard DES encryption algorithms as well as newer triple DEA, which encrypts input data three times using a double key method. Encryption experts estimate that it would take 197 billion years to decrypt data encrypted with this multiple algorithm.
In the U.S. and overseas many financial institutions take advantage of IntelliPIN’s portable and non-portable configurations to provide user-friendly solutions both at the new accounts desk for member PIN selection and at the teller window for cardholder verification.
“MagTek has made this an extremely smooth implementation process,” reports Carol Shapiro, VP of Projects at Navy Federal Credit Union. “More than 550 MagTek IntelliPINs are now installed in nearly all of our 93 Member Service Centers in the United States and overseas. We are very pleased with their performance, and our members and tellers appreciate the speed and convenience MagTek provides when doing transactions at the teller window,” Shapiro says.
About Navy Federal
Navy Federal ([www.navyfcu.org]) is the world’s largest credit union, with more than $15 billion in assets and 2.1 million members worldwide. The credit union serves most military and civilian personnel of the Navy and Marine Corps and their families. Headquartered in Vienna, Virginia, Navy Federal operates 93 member service centers and 250 proprietary “No Surcharge” ATMs worldwide.
MagTek, Incorporated is a global leader in secure member PIN selection and cardholder verification products. MagTek is the world’s largest supplier of magnetic stripe card-reading solutions and is also a leading provider of check reading solutions. Founded in 1972 and headquartered in Carson, California USA, the company employs more than 250 people with representation in over 40 countries worldwide. MagTek is a privately held corporation. Visit our web site at: [www.magtek.com].