CoVantage FCU to Implement Tyfone mWallet Service

CoVantage Credit Union (CVCU) chose Tyfone to provide its comprehensive suite of mobile wallet services so that it may better serve CVCU members with mobile financial services. Tyfone’s mobile wallet services include Symitar Episys core integrated mobile banking, enhanced strong ID authentication mobile security and NFC contactless payment technology. This comprehensive mobile wallet includes a neutral secure element in a memory card so the user experience is dictated by the Credit Union without disintermediation by the mobile industry. The Tyfone “u4ia” platform in addition to mobile banking, enables secure NFC contactless payments and enhanced strong ID authentication, providing end-to-end secure digital wallet and payment services by the Credit Union and for Credit Union members.

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Empower FCU Implements VSoft Remote Deposit Capture

Empower Federal Credit Union is leveraging VSoft Corporation’s suite of item capture solutions such as merchant remote deposit capture and branch back-counter capture. The credit union is deploying the solutions through VSoft’s global data center VServe, and its image exchange platform to take advantage of the dependable infrastructure and accelerated rate of image exchange. VSoft’s merchant remote deposit capture solution will enable Empower’s business members and corporations to capture check images at their office on a standard scanner and send them electronically to the credit union. The branch back-counter capture solution scans high volume deposits behind the teller line, which facilitates on-site correction and balancing to further reduce the cost of ownership.

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MasterCard Cardholders Get Access to Preeminent Experiences

MasterCard cardholders through “Priceless Cities” first being introduced in New York is meant to help drive preference and affection for the MasterCard brand among cardholders by offering them an opportunity to enjoy the things about which they are most passionate. The “Priceless Cities” solution will provide MasterCard cardholders experiences, exclusive offers and privileged access to not only make MasterCard their top of wallet choice but also bring a little more priceless to their life. The program will be supported by a fully integrated marketing communications platform that encompasses a wide-reaching media campaign across print, out of home, radio, television and digital platforms. The campaign will help drive awareness and participation for the Priceless Cities amongst MasterCard cardholders. The media buy will be focused on outlets that drive engagement, action and amplification across cardholder passions such as travel, shopping, arts & entertainment, epicurean, family and sports.

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Evolution Benefits & Lighthouse1 Merge

Evolution Benefits and Lighthouse1 announced they have completed merging their companies to create Evolution1, a partnership which now offers comprehensive electronic payment, on-premise and cloud computing solutions. Evolution1 serves more than seven million consumers, 50,000 employers, and 400 administrators, health plans and financial institution Partners. Evolution Benefits has been among the industry’s fastest growing organizations and has been recognized as one of Deloitte Technology’s Fast 500 for the last five years while Lighthouse1 has grown more than 200% in the last three years, and the company facilitated more than $2.4 billion in reimbursement transactions and processed more than 24 million claims in 2010.

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Cardtronics Expands USAA Bank ATM Network

USAA Federal Savings Bank (FSB) has reached an ATM branding agreement with Cardtronics and will subsequently brand 189 Cardtronics-owned and operated ATMs in the metro Washington, D.C and offer fee-free cash access to USAA members. All 189 Cardtronics-owned/USAA-branded ATMs are located in the Washington, D.C. area (Washington, D.C. proper, northern Virginia and southern Maryland) CVS/pharmacy locations. USAA’s expanded banking services network through Cardtronics complements USAA Financial Centers with ATMs located in high-profile retail locations. In addition to this ATM branding agreement, USAA has participated in the Allpoint Network since 2009.

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Fintech to Manage Dane County FCU eBanking

Dane County Credit Union selected FinTech’s “Geezeo” online financial management (OFM) tools, personal financial management (PFM), social networking and web-based marketing platforms. Dane County Credit Union’s Marketing VP indicated a personal financial management tool to our online services will enhance our members’ financial situations and simplify their busy lives. The Credit Union sees PFM as a key component in their efforts to build a strong product line for their members and potential new members.

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Citi Named Best Global Transaction Banking House

Citi was named Best Global Emerging Markets Bank and Best Global Transaction Banking House by Euromoney magazine as part of its Euromoney Awards for Excellence 2011. Euromoney is one of the world’s leading monthly financial publications focusing on the banking industry. Their Awards for Excellence is currently in their 20th year. The global awards were presented on July 7th at a dinner in London, and the full list of awards winners will appear in Euromoney’s August issue.

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I-design Reignites Cardtronics Marketing Agreements

I-design ATM and self-service marketing solutions forged a second multi-year contract with Cardtronics ATM deployer, which operates over 37,000 ATMs globally, wherein Cardtronics has acquired a license to incorporate i-design’s ‘joono’ marketing software to its own offering. The i-design next generation targeted marketing software allows financial institutions, retailers and advertisers to communicate with their customers through ATMs and advanced functionality financial kiosks. The “joono” improves on its counterpart “atmAd” with new functionality and broader capability. This after initial advertising agreements signed in May 2010 for the deployment of I-design on Cardtronics ATMs.

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Trevica payment processor implements OpenWay card platform

TREVICA payment processing company has launched its “WAY4” multi-institution card issuing and acquiring platform from OpenWay. With “WAY4,” TREVICA plans to become a strong rival to well-known card processing players in providing both traditional payment processing services and advanced value-added services, such as 3-D Secure Internet payment processing and real-time risk management.

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Japan LEI Down .4% in May

The Conference Board Leading Economic Index for Japan decreased 0.4% in May after two consecutive monthly declines to now stand at 94.2 (2004=100). The six-month growth rate of productivity, new orders for machinery and construction, and stock prices continued to decrease this month. With the decline in May, the six-month change in the leading economic index continued to fall – to -0.9 percent (a -1.9 percent annual rate) between November 2010 and May 2011. Meanwhile, the Conference Board CEI for Japan, a measure of current economic activity, increased in May following two consecutive declines as industrial production rebounded sharply while the six-month change in the coincident economic index remained negative – at -0.4 percent (a -0.8 percent annual rate) in the period through May 2011, slightly up from the 1.0 percent decline (a -2.0 percent annual rate) for the previous six months.

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Card Delinquency Up, Still Below 15-year 3.96% Average

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit delinquencies hit in five of eleven loan categories drifted into unfavorable territory throughout 2Q/11. Bank card delinquencies were up 12 basis points to 3.40% of all accounts from 1Q/11 of 3.28%, well below the 15-year average of (3.95%) and the year ago figure of 3.88%. This comes at a time…

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Issuers to Look Hard at Non-Prime Credit Card Segments

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With card issuers seeking news ways to grow responsibly, most still continue to favor prime-plus consumers as they continue to recover from the recession. They are, however, increasingly focusing on the non-prime consumer market. These findings, according to the Mercator Advisory Group, indicate credit standards are ultimately beginning to loosen as…

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