Commerzbank & Sentenial to Offer Sepa services

Commerzbank has partnered with Sentenial to deliver value added Sepa services to their Financial Institution (FI) customers. This agreement provides Commerzbank customers with a service to operate SEPA in a robust and scalable manner without changing their back office systems. Sentenial have worked in partnership with Commerzbank to create a detailed solution allowing complete SEPA direct debit compliance painlessly. Ease of use and simplicity is achieved through the product’s unique “SEPA Expert” system that protects and insulates FIs from the complexities of the SEPA direct debit scheme. SEPA direct plus offers a high value, low risk SEPA direct debit service.

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Avangate Teams & PayNearMe Penetrate US Market

Avangate eCommerce and partner-management solutions for software vendors integrated its payment application from the PayNearMe cash payment network. Allowing consumers to pay for software purchased online with cash at nearly 6,200 7-Eleven stores across the U.S., Avangate is the first eCommerce provider for the software industry to implement this payment method. This also makes it possible for software companies to provide products and services to a potential market of up to 60 million US households that do not have a debit or credit card or consumers who simply prefer to pay with cash.

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RBS introduces online Sepa direct debit payments

The Royal Bank of Scotland Group launched its Sepa Direct Debits via “Bankline,” RBS’s online banking service for UK clients. With this, organisations no longer require multiple bank accounts or a range of complex payment instruments to make cross border collections across Europe. Harlands Services Limited are a leading Bacs processing company and have for sometime been seeking expansion opportunities across Europe. Until SEPA, trading in any country other than the UK meant that they would need to adopt the legacy SEPA Direct Debits processing system in each country, which was operationally inefficient and limited business expansion plans. Moving to SEPA has improved Esendex’s cash collection process in Europe and means they can now offer a SEPA Direct Debit solution throughout the region without the need to apply for local bank facilities.

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Uncertainty In Recovery Continues to Unfold

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Bankruptcies were down 7% since the year ago figure, dropping along side credit card chargeoffs .43% to 7.88% of outstanding credit card volume in April. But not everything is just fine and dandy with said outstanding consumer credit now up 2.9% year-over-year, a first since November, just as the Conference Board…

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Younger Males Most Confident in m-Payment Use

Currently, 62% of Americans who use a mobile phone would be open to using their device to make purchases wherever their errands may take them, particularly, 18-34 year-olds. With 63% of 18-34 year olds at ease using mobile phones to make purchases versus the 37% of those 35 or older, 65% feel more naked without their phones than their wallets, compared to only 34% of the elder group. These findings, according to the latest survey by MasterCard Worldwide, also indicate more men than women (51% vs. 40%) would be at ease using it to make purchases; 49% vs. 45% would be more impressed by someone who paid a bill with a mobile application than with a credit card; women more so than men (50% vs. 36%) feel more exposed without their mobile device than their wallets; while 45% vs. 34% would rather have their phones than their wallets ‘surgically attached.’ Across the board, however, 54% agree someone’s phone is more telling of their personality than their wallet.

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New Bank Credit Card Originations Up 28% Y/Y

New bankcard growth is on its way back up, with year-over-year (YOY) total number of originations (Feb. 2011 vs. Feb. 2010) up by more than 28%. Notable within the data is that lenders continue to expand the subprime category with Feb. 2011 subprime bankcard originations up by more than 75% over Feb. 2010 numbers, and total new subprime bankcard credit up by more than 66%. These findings, according to the Equifax “April National Credit Trends Report,” also shows new bankcard credit limits are increased by more than 27% YOY; individual new bankcard average credit limit decreased slightly from the previous year (Feb. 2011 average of $4,008 vs. Feb. 2010 average of $4,086; and the average subprime bankcard credit limit has decreased slightly from $1,025 (Feb. 2010) to $977 (Feb. 2011).

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Wright Express Appoints New CIO

Andrew Chamberlain has joined Wright Express as CIO, Wright Express International to oversee international platforms and outsourced developments. This will include the assessment of platforms for future growth strategies, as well as the development of processing solutions for the Company’s international fuel and other payment processing systems. Mr. Chamberlain brings with him a wealth of IT experience, having spent 20 years within American Express and as Chief Technology Officer for Vertex Group with responsibilities in North America, United Kingdom, India and Australia.

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FI-MOBILE Platform Helps Institutions Deliver mBanking

FI-MOBILE launched its “UniFI” mobile banking application platform. Allowing financial institutions to deliver and manage a branded mobile presence, “UniFI” is designed to help credit unions and banks deliver a unified and powerful mobile banking experience to account holder and members. It provides instant access to critical financial services and information making it easy for customers to do their banking on the iPad, iPhone, Android, Blackberry, and any other browser-enabled smart device. Features include branding and marketing options; unified cross-platform support; real-time feature and content updates; existing mobile application support; and management analytics.

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NCR Improves APTRA software

NCR deployed its “APTRA Cash Connect 6.0” software to help financial institutions and employees use, monitor and integrate multi-vendor automation units. The units, which include teller cash recyclers, allow banks, credit unions and other financial institutions to spend more time with customers. The manufacturer’s multi-vendor software strategy allows financial institutions to select their preferred hardware partner because APTRA Cash Connect 6.0 supports all major teller automation units in the market. Enhancements to 6.0 include Microsoft SQL Server Express database that enables consolidated branch-wide data and branch-wide reporting capabilities for teller automation activity. APTRA “Cash Connect” for teller cash recyclers can cut transaction times by an average of 30 seconds for withdrawals and two minutes for deposits.

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Hudson Valley Bank Selects Fiserv

Hudson Valley Bank has selected Fiserv financial services technology integrated banking solution set. Based on its Signature bank platform, the integrated banking solution set allows the community bank to focus on the financial needs of local businesses and professional services firms. Fiserv will provide its complete commercial banking solution to help Hudson Valley Bank and other organizations like it to maximize their assets, provide greater insight into their customer base and increase sales while managing risk and fraud. The Signature bank platform and other Fiserv solutions can help commercial banking customers achieve a more efficient and customer-centric lending process.

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