Flaws Seen in Financial Service Alerts

Financial alerts have the potential to enable convenient, safe and
profit-generating interaction between financial institutions and their
customers, but changes must first be made. Seven flaws that slow the
adoption of alerts, according to a new report from Javelin Strategy &
Research, have numerous hurdles to overcome. The report, “Financial Alerts
in 2010: Addressing Seven Critical Flaws is Essential to Building Alerts
That Attract, Enrich and Keep More Customer Relationships,” demonstrates
the alerts are difficult to set-up and tailor due to delays in alert-notification
delivery; a lack of actionable response capabilities; an absence of
integration with other financial institution services; a lack of alerts
that address the most significant fraud risks to consumers and small
businesses and inadequate education and marketing for alert availability
and usage. In response, Javelin suggests defaulting customers
into alerts; recommending alert starter bundles to new and existing
customers, enabling customers to set or tailor alerts on the fly and
experimenting with predictive analytics.

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Discover Picks Winners of Student Card Design Contest

Discover card has announced the winners of the company’s first social media Discover Student card
design contest. The online contest provided two ways
for Discover fans to participate in the card design creative process.
Users created and shared original artwork through the Discover
Facebook page. The highly interactive application enabled Discover fans
and visitors to easily draw their designs on a widget with a Discover
card graphic overlay that resembled a real credit card.
Discover fans and visitors voted on their favorite designs. The
social media contest received approximately 6,700 card design entries
and over 200,000 votes. Grand prize winner, Rainna Langley, was awarded $1,000
for her cassette tape-themed artwork. Lauren Snyder received $500 for
her space-themed card design, and third place recipient, John Bell, was
awarded $250 for his dollar bill card design. The grand prize winning design
will be featured on the next Discover Student card, which is slated to debut in April.

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PAX Appoints New US CEO

Michael Mulcahy has been appointed President and CEO of PAX’ US operations. Mulcahy will oversee directing and driving business activities in the US for China-based PAX, one of the fastest growing point-of-sale (POS) solution providers in China. Michael previously served as VP, Business Development for PAX, which he joined from ExaDigm, a provider of mobile payment terminal solutions. With ExaDigm, he served for 7 years as President and COO then as CEO. His resume also includes experience in positions with Panasonic’s POS Systems Division, NBS in Canada, California Retail Data Systems and Pacific Data Systems. PAX electronic payment terminal products and the dominant supplier in China. The company opened its first U.S. headquarters in Atlanta, GA in September 2008.

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Plastic Cash and MasterCard Launch Prepaid Card Solution

Prepaid product provider Plastic Cash International, LLC and MasterCard Worldwide have partnered
to offer “MYPLASH” open-loop prepaid gift cards and reloadable
prepaid gift cards starting summer 2010. MYPLASH prepaid cards, Plastic
Cash International’s teen prepaid brand, were previously Visa-branded
and are the world’s largest teen branded prepaid product. As part of the
launch this summer, MYPLASH will also be expanding its existing roster
of the hottest music artists, action sports athletes and lifestyle
brands to include pop culture icon Paul Frank, action sports sensation
TapouT, legendary surfing brand Rip Curl and dozens more.
MYPLASH MasterCard products will be available summer 2010, for use at all locations where
MasterCard is accepted.

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MasterCard & APA Sponsor Scholarships, Educate on Payroll

MasterCard Worldwide is the inaugural and exclusive platinum sponsor of Money Matters National Education Day, part of the American Payroll Association’s (APA) National Payroll Week (Sept. 6-10, 2010). Held on Sept. 9, the MasterCard Money Matters National Education Day is devoted to helping youth entering the workforce understand their paychecks and the payroll withholding system, during which MasterCard will be helping to educate the APA’s program participants about prepaid payroll cards. In doing so, APA member payroll professionals will visit local high schools and youth groups to hold payroll classes around the country, for which it has teamed with the National Council on Economic Education to create a special lesson plan that teaches students the elements of a paycheck, the amount of taxes they can expect to have withheld, and how those taxes are calculated. MasterCard will also sponsor four scholarships for junior and senior high school students for continued education, including one Scholarship Grand Prize of $5,000 and three Scholarships of $1,000.

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CITI HAITI

Michael Mulcahy has been appointed President and CEO of PAX’ US operations. Mulcahy will oversee directing and driving business activities in the US for China-based PAX, one of the fastest growing point-of-sale (POS) solution providers in China. Michael previously served as VP, Business Development for PAX, which he joined from ExaDigm, a provider of mobile payment terminal solutions. With ExaDigm, he served for 7 years as President and COO then as CEO. His resume also includes experience in positions with Panasonic’s POS Systems Division, NBS in Canada, California Retail Data Systems and Pacific Data Systems. PAX electronic payment terminal products and the dominant supplier in China. The company opened its first U.S. headquarters in Atlanta, GA in September 2008.

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YES BANK & CORDYS

YES BANK has entered into a strategic partnership with Cordys, a leading supplier of software for business process innovation to automate, manage and improve key business processes. The “Cordys Business Operations Platform” with its “Business Process
Management Suite” (BPMS) functionality will provide several key
features to YES BANK including: business focused BPMS for process automation leading to greater
visibility and control to make real time decisions. This will result in
significant customer service improvements and better exception management; process-driven and SOA-based integration of multiple systems and
people across the value chain, supporting any type of workflow; e.g.,
enabling faster payments processing with minimum or no manual intervention;
continuous process improvement with Business Activity Monitoring —
leading to better operational responsiveness and faster innovation with Composite Application Framework to build new
applications or enhancing existing applications in a quick, efficient
and cost-effective way — solutions that enhance business-IT alignment.

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TED INREVIUM

Tokyo Electron Device Limited has announced the release of the inrevium TB-6V-LX240T, LX365T, LX550T, and SX475T-PCIEXP series evaluation platforms fitted with Virtex-6 FPGAs from Xilinx.
The inrevium TB-6V- LX240T, LX365T, LX550T, and SX475T-PCIEXP make ideal evaluation platforms for the development of high-performance graphics engines for next-generation televisions and multi-function printers, or for the high-speed arithmetic processing found in high-performance computing applications. TED developed these new domain platforms in accordance with the Targeted Design Platform concept promoted by Xilinx and are fitted with the industry-standard FPGA mezzanine card connector that provides flexible support for a range of different external interfaces implemented on FMC daughter cards available from TED today in addition to providing a future-proof upgrade path as new interfaces are developed. Thus preserving the initial investment in the base board purchase. Using the platforms in conjunction with the supplied reference designs facilitates a significant reduction in the development workload required of complex FPGA designs hosting high-performance PCI Express applications, application software and similar tasks, resulting in customer end products being brought to market more quickly.

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HIMC Corporation Appoints New Interim CEO

Charles B. Mathews been appointed Interim CEO of HIMC Corporation. Having served on the Company’s board since January 2009, Charles brings with him extensive senior financial and business management experience with both private and public companies, most recently as a managing member of an accounting and business consulting firm. From March 2004 to November 2007, Mr. Mathews was Executive Vice President and Chief Financial Officer of Quepasa Corporation, a publicly traded leading Hispanic internet portal. Mr. Mathews has extensive experience in helping companies with turn-around situations and corporate restructuring. HIMC provides secure electronic check processing, refund and rebate check fulfillment services, NSF check re-presentment, credit card processing and ACH transfers.

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TW Inks Hallmark Insights for SMS

Transaction Wireless
has signed a mobile notification agreement with Hallmark Insights, a
business-to-business (B2B) subsidiary of Hallmark Cards. Under the
agreement, TW will be providing mobile messaging services for Hallmark
Insights. Currently, Hallmark Insights utilizes email for various account
notifications such as awards earned, redeemed and shipped. TW’s
technology will extend these notifications to clients’ mobile devices,
creating a more targeted real time offering for Hallmark Insights’
corporate clients with an immediate call to action. Hallmark Insights
provides meaningful, memorable and
measurable incentive solutions for health and wellness, employee
recognition, sales incentive and consumer marketing programs.

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Team One Credit Union Deploys DCS Instant Issue

MI-based Team One Credit Union has implemented Dynamic Card Solutions (DCS) “CardWizard” instant issue software and hardware. With this, the credit union can now instantly issue unembossed Visa debit and credit cards at the branch level. Offering instant issuance and PIN selection solutions for banks, credit unions and retailers that issue magnetic stripe, EMV and contactless cards, the DCS software and “FCP 20/20” unembossed card printer provides a gallery of stock images that cardholders can select for their card background. After members select an image on the credit union’s “Picture My Card” program, DCS’ CardWizard software transfers all personalization data fully encrypted to the FCP 20/20 printer which quickly and securely prints in high-definition color onto both sides of white blank card stock the personalized unembossed card for immediate use.

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WU & CHINA BANKS

Western Union has signed agreements to offer Western Union Money Transfer services with Bank of Jilin,Bank of Harbin, Fujian Haixia Bank and Zhejiang Chouzhou Commercial Bank.
Bank of Jilin, with its headquarters located in Changchun city, is a leading commercial bank in Jilin province, China. It is the former Changchun City Commercial Bank, established in 1997, and changed its name in 2007 to Bank of Jilin. Its services cover the entire province with the ability of cross-province operation. With 356 locations across Jilin province and 1 location in Dalian, Liaoning province, it offers a wide range of services to local customers. Harbin Bank is located in Harbin at Heilongjiang province and is an innovative national commercial bank in China and has eight branches, including Tianjin Branch, Dalian Branch, Chengdu Branch, Shuangyashan Branch, Jixi Branch, Hegang Branch, Suihua Branch, Shenyang Branch, 3 rural banks, 13 first-tier branches, 4 second-tier branches, 5 institutions and 140 locations. Fujian Haixia Bank, formerly Fuzhou Commercial Bank, is a joint stock bank with branch presence in Zhangzhou, Longyan, Ningde, 35 locations and 1 institution. The Bank is planning to set up their branch presence in Quanzhou, Wenzhou. Fujian Province is one of the provinces with diaspora and migrants going to U.S. and Japan. The personal remittances between domestic and overseas countries are very frequent in Fujian. Zhejiang Chou Zhou City Commercial Bank is a regional commercial bank based in Yiwu, Zhejiang province, China with 25 locations, including Hangzhou, Nanjing, Fuzhou, Wenzhou, Jinhua and Lishui.

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