BMO Forges Spend & Payment Alliance with IBM

BMO Spend & Payment Solutions has forged an alliance with IBM’s Managed Business Process unit to help joint clients control business travel and expense management costs, drive process and policy transformation, and improve compliance with corporate spend policies. The partnership benefits organizations with expense data from BMO and Diners Club corporate MasterCards. This reduces employee’s time and effort to submit expense reports and gives corporate travel managers improved visibility and control into travel and entertainment (T&E) spend. BMO Spend & Payment Solutions’ products are widely used by corporations, non-profit and government-sector organizations for commercial spending and payments visibility.

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RETALIX POS

Zen Nippon Shokuhin is set to deploy the Retalix POS software services, Loyalty solutions and Retalix HQ system at more than 1,000 of its locations. Following its successful pilot, Zen Nippon Shokuhin chose the Retalix software to enhance the customer experience and create a centralized and integrated retail IT infrastructure as it continued its growth in the Japanese market. Retalix Store Solution software is an open-architecture, multi-channel solution to differentiate, innovate and drive a superior customer experience. Deployed at leading retailers worldwide, the application contains advanced POS functionality and supports customer loyalty, self-checkout, fuel management, QSR and a wide variety of electronic payment services.

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M-Com Launches mBanking SaaS Platform

M-Com mbanking solutions has launched its “BankAnywhere” ‘Software as a Service’ (SaaS) version of its globally deployed mobile banking and payment platform. Labeled “BankAnywhere ASP Edition,” the SaaS in being deployed in conjunction with Fiserv financial services technology solutions and will thus be incorporated with “Mobile Money” from Fiserv. Over 150 credit unions have chosen to implement “Mobile Money,” 84 of which are already live. The “BankAnywhere ASP Edition” allows users to check balances and transaction history, transfer funds, view and pay bills and receive alerts.

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2009 Retail Cards in Circulation up Meager 1.1% Y/Y

The number of retail credit cards in circulation held steady in 2009, up 1.1%. Meanwhile, according to the Fitch’s “Retail Cards Index,” gross charge-offs registered another consecutive monthly drop-off in June by more than half a percentage point to 10.57%, a dip of 56 basis points from the month prior. The “Monthly Payment Rate Index” for retail cards for the same month rebounded after a one month dip, reporting an increase of 26 bps to 14.22% and a 10% improvement year over year. This rate is also an improvement to the 13.96% seen in the prior month. According to CardData, the total number of private label cards in circulation held steady for a slight increase to an estimated 444 million in 2009, compared to 440 million in 2008 and 510 million five years ago (CF Library 1/13/10; 4/28/10).

RETAIL CARDS-IN-FORCE(millions)
1999: 572
2000: 590
2001: 583
2002: 571
2003: 549
2004: 510
2005: 481
2006: 468
2007: 455
2008: 440
2009: 444
Source: CardData (www.carddata.com)

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Nearly 30% of Gen Yers In Financial Trouble

Gen Y’ers, the 87 million Americans age 18-34, are currently experiencing financial stress and difficulty in obtaining credit. Nearly 30% of Gen Y’ers report having difficulty in managing their spending, more than 20% wait longer to pay their bills, and 35% have borrowed money from friends or family members. Meanwhile, 50% report increased stress about financial obligations in the last six months; 33% have seen their financial situation worsen in the last six months; 27% have been turned down for a loan or line of credit; and 60% have not seen their credit score in the past year while 44% have never seen their credit score. In response to these findings, by Western Union, the same Company is recommending consumers establish a Budget using the multitude of free online tools; Know their Credit Score; keep up with bills and build an emergency fund.

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KeyBank Makes Available Fiserv mBanking

KeyBank is now providing customers with mobile banking services through “Mobile Money” from Fiserv. With “Mobile Money,” KeyBank customers can access their accounts through SMS (text messaging) as well as receive a variety of account alerts, including notifications about low balances or transactions above a certain amount. These capabilities help customers better manage their finances. KeyBank can now reach existing online banking customers as well as the untapped market of offline-banking customers. Flexible enrollment options will help the bank expand the service to a range of users, including those that do not bank online but have a demand for easy, self-service access to financial information throughout the day. KeyBank can support mobile customers through channels, allowing the Bank to offer mobile banking to a wider group of customers than might otherwise use the service.

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Wells Fargo Launches Student mBanking

Wells Fargo is helping college students prepare for the transition to financial independence through a broad array of lending and financial management products and services through online and mobile channels. With this, Wells Fargo is making available “Education Financial Services” for helping customers make smart borrowing decisions, implementing a complementary solution to meet the expenses of undergraduate and graduate studies. Also, the Wells Fargo “Student Loan for Parents” assumes adults responsibility for the loan. Additional products include the “College Combo,” featuring College Checking(R) account, free access to Online Banking with free Bill Pay, Debit Card with free access to more than 12,000 Wells Fargo and Wachovia ATMs nationwide, and Savings Account; “CollegeSTEPS” Program; “Mobile” banking; “My Savings Plan” tool; “My Spending Report with Budget Watch;” and “Account Alerts.”

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ACI Remittance Achieves SWIFTReady Accreditation

The ACI “Money Transfer System” has achieved the “SWIFTReady” accreditation for payments for the thirteenth consecutive year. The “SWIFTReady” accreditation for payments recognizes that “Money Transfer System” reaches standards for initiation, generation, processing and settlement of payments, and demonstrates ACI’s commitment to SWIFT’s standards, products and services. The “SWIFTReady TSU” label is granted to trade applications that work in a banking back-office context. The “Money Transfer System” is a multibank and multicurrency global payments processing and risk management system that provides continuous processing capabilities. The system is a single, integrated solution for domestic and international payments processing which supports processing for transactions under the SEPA Credit Transfer and Direct Debit schemes.

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First Federal Savings of Lorain Implements Fiserv Processing

First Federal Savings and Loan Association of Lorain, Ohio, has chosen an integrated banking solution based on the Fiserv “Cleartouch” bank platform. A community bank with $445 million in assets and seven branches located along Ohio’s North Coast, First Federal selected outsourced processing and solutions from Fiserv to ensure that it had the technology to deliver outstanding products and services to its local communities for the long-term. With “Cleartouch from Fiserv,” bank customers have access to a real-time account processing solution that integrates best-in-class Fiserv product offerings to address the business needs of growing community and mid-sized banks. Cleartouch is delivered online through a secure service bureau environment.

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Global Axcess Posts 2Q/10 Revenue Up 3% Y/Y

Global Axcess self-service kiosk solutions posted 2Q/10 revenue of $5.5 million, a 3% increase year over year. The Company’s core revenue from ATMs was $5.4 million while DVD
rental revenue was $60,000. ATM and DVD kiosk operation generated income of $625,000 and a loss of $293,000, respectively. Additional items show EBITDA from continuing operations
was $751,000, income from rental revenue was $103,000; core ATM operating income totaled $1.2 million and DVD operating loss totaled
$418,000. For the first half of the fiscal year, total revenue was $10.9 million; Core revenue from ATMs was $10.8 million;
DVD continuing operations was $332,000 and net income was $121,000.

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U.S. Bank Implements Panini Check Scanner

U.S. Bank has inked agreements to make available the Panini “I:Deal” check scanner for Deposit Express, a Remote Deposit Capture (RDC) solution for small businesses. The “I:Deal” check scanner is designed specifically for small business RDC, provides U.S. Bank small businesses an innovative check scanning solution featuring advanced check reading technologies to make deposits from the convenience of their office. U.S. Bank is actively marketing its new RDC solution to small business customers and partnering with Panini on several promotions to assist with these efforts.

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Visa Enhances Business Network for Small Businesses

With social media adoption by small businesses having doubled from 12% to 24% over the last year and 57% having built a network through an online networking site, Visa announced significant enhancements to the Visa Business Network online community. Helping small business owners manage their businesses more efficiently, connect with and gain insight from peers, and ultimately grow their business, the Network now allows small business owners to interact with peers in a collaborative way for growing their customer base and managing business. The 100,000 active network members now have access to such tools as Business Goal Toolkits, offering “how to” guides that lead small business owners through the process of setting and achieving business goals; the “Small Business Mentor Program” with personalized help and guidance from other successful small business owners; the “Question & Answer Forum”; and “Content Ranking” for quick access to the resources and articles fellow small business owners have declared most useful.

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