HSBC SHARIAH

HSBC Amanah opened its first branch dedicated to Shariah compliant products and services in Qatar. Dedicated Islamic banking branch in the MENA region outside of Saudi Arabia, the branch will serve retail and corporate customers. The range of services includes HSBC Amanah Premier, an international Islamic banking service, which is an expansion of HSBC’s market-leading premium banking service HSBC Premier; HSBC Advance, an international current account and banking service proposition, as well as international trade finance and corporate banking services. HSBC Amanah has continued to grow and now has a presence in the Middle East, South East Asia and Europe. It has a significant physical distribution network and a team of dedicated Islamic banking professionals in its global financial centers namely, New York, London, Riyadh, Dubai, Hong Kong, Malaysia and Singapore.

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36% of Consumers Pay Off Student Loans with Credit Cards

With only 36% of students charging up their credit cards to pay tuition, college goers may be more responsible with their credit cards than generally thought. CardRatings.com and Chef2Chef.net culinary community and directory of culinary arts schools asked site visitors how much student loan debt is on their credit cards, to which 12% responded less than $5,000; 7% responded $5,000 to $10,000; another 7% responded $10,000 to $20,000; 10% responded more than $20,000 and 64% responded 0%. Those who use cards could miss out on tax breaks such as deducting student loan interest from income tax returns.

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GAO CONTACTLESS

GAO Embedded has deployed its 13.56MHz RFID reader module for contactless financial transactions. Encrypted with authentication across a range of vertical markets, the reader module is suitable for various applications from anti-counterfeiting to patient safety that share common requirements for tag support, protocol, performance and security. The multi-protocol RFID reader module, model 713008, is compatible with a wide variety of RFID tags. It offers software adjustable host interfaces including UART (TTL), SPI and USB and provides a simple and intuitive API for encryption algorithms and key storage.

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Zions Bank launches m-banking service

Zions Bank has deployed its mBanking service, free to customers through zionsbank.com. Allowing consumer banking clients to use their mobile phones to access their Zions Bank accounts, view balances, and transfer funds. Zions Bank mbanking uses a number of the same security features and provides the same high level of protection against fraud and identity theft. A PIN or password is needed to access the application and no personal data or bank account information is stored on a phone. This is in conjunction with research showing 58% of all Americans use mobile devices for non-voice data communications on a typical day and by 2012, 108 million consumers will be banking on mobile devices.

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SOCGEN MOBILE

Atos Worldline transactional services has been selected by Societe Generale to develop and host mobile services allowing it to offer its customers mobile banking access to account checking, stock market access, geolocation of branches and budget management. Launched this month on iPhone and iPod Touch, the “Appli” will also be adapted for other platforms. This intuitive and practical application allows Societe Generale to strengthen relations with its customers while also meeting their need for mobility. Atos Worldline has been supporting Societe Generale for the last 20 years in its implementation of innovative projects and a multi-channel strategy.

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Workforce Loses 125,000 in June

Total nonfarm payroll employment declined by 125,000 in June while the
unemployment rate edged down to 9.5%. The decline in payroll employment reflected
a decrease (-225,000) in the number of temporary employees working on
Census 2010. Private-sector payroll employment edged up by 83,000. This, according to the U.S. Bureau of Labor
Statistics, also showed while employment in wholesale
trade, retail trade, information, and financial activities showed
little change in June, the number of unemployed persons, at 14.6 million, and the unem-
ployment rate, at 9.5 percent, edged down. The unemployment rate for adult women declined to 7.8%, for adult men was 9.9%,
was 25.7% for teenagers 8.6% among whites, 15.4% among blacks and 12.4% among Hispanics.

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NET Federal Credit Union chooses Bluepoint ImagePoint

NET Federal Credit Union is set to deply Bluepoint Solutions’ “ImagePoint Teller Capture” and “Receipt Manager” solutions. NET Federal Credit Union operates two branches, has more than 21,000 members and $157 million in assets. In addition to the efficiencies gained on the teller line, the credit union anticipates faster and more accurate balancing, as well as a reduction in fraud by catching questionable items before they ever enter the institution. The “ImagePoint Teller Capture” enables the capture of items at the teller line, increasing efficiency and accuracy by reducing time spent on manual data entry and preventing human error, while “Receipt Manager” integrates with the existing teller transaction flow, storing the receipt data with the check image electronically and making them searchable and available.

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First National Bank & Murphy USA Launch Visa

First National Bank of Omaha and Murphy USA have ink strategic partnership agreements to launch the “Murphy USA Visa Card.” The “Murphy USA Visa Card” will offer cardholders 4 cents ($0.04) off per gallon of gas at any Murphy USA or Murphy Express location and provide cardholders 1% cash back on qualifying credit card transactions. Cardholders will be able to redeem their 1% cash back in $25 increments either by phone or online. First National Bank of Omaha has more than 600 financial institution, co-brand, and affinity partners, First National Bank’s history in the partnership space spans over 42 years while Murphy USA operates over 1,000 retail gasoline stations in 21 states in the Southeast and Midwest.

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Recession Impacting Personal as Much as Financial Norm

Among Americans, 77% report the economic recession has significantly changed their outlook on life; 58% of reevaluated their approach on life; and 52% have become less hopeful about the future since the recession began. Additionally, 49% realized they would probably fall short of their personal or professional goals; 42% have become more easily angry or emotional since the recession began; 41% have become more depressed; and 33% raise their voice more frequently since the recession began. This, according to a recent survey conducted by StrategyOne, also shows 15% sought out assistance for mental health problems since the recession began; 19% started drinking or smoking more and 6% started using illegal drugs or used them more often. Moreover, 27% of women 18-34 years old will delay having a baby or child; 21% of Americans 55 years or older will postpone retirement; 18% of single Americans to postpone getting married or engaged; and 9% of married Americans to put off getting a divorce.

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Chase Launches National Ad Campaign

Chase’s proprietary rewards program, “Ultimate Rewards,” has launched a new national ad campaign showcasing possibilities and options offered through the program. The three broadcast and five print creative executions showcase the breadth of redemption options. Chase’s goal with “Ultimate Rewards” is to deepen relationships with cardmembers and enhance customer loyalty by providing greater value and superior redemption options to Chase “Freedom,” Chase “Sapphire,” “Ink” and Chase debit cardmembers. The multimillion dollar campaign is laready underway in print, online, local and national broadcast and cinema, including outlets such as Elle Decor, In Style and Martha Stewart Living and will appear on air during The Primetime Emmy Awards and the 2010 MLB All-Star Game.

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AmEx Launches Summer Travel Promo, 3X Rewards

American Express has launched its nationwide promotion to allow U.S. Consumer and OPEN Green, Gold, Platinum and Centurion Charge Cardmembers enrolled in the Membership. The rewards program allows users to receive triple points on all purchases with all major U.S. and virtually all international airlines and applies to airline purchases made between July 1 and September 30. The bonus points promotion is designed to reward them with bonus points on their airfare purchases during the peak summer travel season. Cardmembers enrolled in the Membership Rewards program must register their existing Charge Card by September 30 either online at www.americanexpress.com/fly3x or by calling 1-800-794-1308 and using the promotional code 17677001.

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