Fiserv Account Processing Expands Footprint Nationwide

Fiserv financial services technology solutions announced six financial institutions have implemented Cleartouch from Fiserv for account processing, online banking, risk management, check capture, mobile banking, document imaging, card production, bill payment and accounting. The Cleartouch bank platform is an integrated, end-to-end solution that delivers real-time capabilities. The banks include Mansfield Bank, a $372-million bank headquartered in Mansfield, Mass.; The Home Building & Loan Company, a $43-million bank in Greenfield, Ohio; Kennebec Federal Savings & Loan Association in Kennebec, Maine; Magyar Bank, headquartered in New Brunswick, N.J.; Webster City Federal Savings Bank, a $91-million bank in Webster City, Iowa; and Winchester Savings Bank in Winchester, Mass.

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Chargeoffs and Bankruptcies Near Record Breaking Numbers

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Delinquencies for U.S. credit card ABS fell for the 30th straight month for unprecedented positive performance while bankruptcy filings fell between 8-10% in 1Q/12 from the year ago period and were down significantly during the period from June 2011 to June 2012 from the year ago period. After peaking in January…

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Bluefin Payment Systems Ranks on Inc. 500/5000 List

Inc. Magazine has announced that Bluefin Payment Systems achieved the #6 position overall on its annual 500/5000 list of the fastest-growing, private companies in the United States. Bluefin Payment Systems provides a highly secure payment gateway for electronic payments, including debit/credit card processing, ACH, and more. Placements on the list are based on the percentage of revenue growth from 2008 to 2011 for private US-based companies with minimum revenue of $100,000 in 2008 and $2 million in 2010. Bluefin Payment Systems achieved the #6 spot on Inc.’s list by generating 2011 revenue of $55.6 million and experiencing an 11,675.7% growth rate from 2008 to 2011.

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CFSI Study Shows 15mm Consumers at Risk with SDC

The Center for Financial Services Innovation (CFSI) released a new study that uncovers reasons consumers use harmful small-dollar credit products, highlighting the need for better high-quality credit solutions. Having surveyed over 1,100 small-dollar credit (SDC) consumers, plus an additional 500 non-SDC consumers for comparison, the study suggests an estimated 15 million consumers used at least one SDC product in the past year; 59% of surveyed SDC consumers had only a high school education or less, compared to 45% of non-SDC consumers polled; and 27% of SDC consumers had a credit card, compared to 61% of non-SDC consumers. The top three reasons identified for funds shortage included living expenses consistently more than income, bill or payment due before paycheck, and unexpected events such as emergency expenses or income drops.

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Grant Victor’s ATMequipment.com Ranks on 500|5000

Grant Victor’s ATMequipment.com and eGlobal were ranked in Inc. Magazine’s 500|5000, a 2012 ranking of the nation’s fastest-growing private companies. Grant Victor had a three-year growth rate of 151% and was also ranked No. 96 among the Financial Services industry. ATMequipment.com had a three-year growth rate of 127% and was also ranked No. 105 among the Financial Services industry while eGlobal had a three-year growth rate of 107% and was also ranked No. 117 among the Financial Services industry. The median growth rate of 2012 Inc. 500|5000 companies remains 97 percent, despite a lagging economy.

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U.S. Bank Launches New Business Visa Charge Card

The U.S. Bank Business Visa Charge Card pay-in-full card is designed to give small businesses a way to build their business credit, manage their cash flow and earn cash rewards on all their purchases. With no monthly or annual fee, benefits of the U.S. Bank Business Visa Charge Card include no interest charges or revolving balances because customers pay in full every month; ability to build a business credit profile; 25-day monthly grace period for owners to pay their bill; up to one percent cash back on purchases; 24/7 domestic call centers with dedicated U.S. Bank small business specialists and zero liability fraud protection.

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Chase & LivingSocial Award 12 Small Businesses $250K

Chase and LivingSocial announced the 12 small businesses that will receive grants of $250,000 each through “Mission: Small Business” grant program. To increase awareness of the important role small businesses play in local communities, “Mission: Small Business” is supported by the U.S. Chamber of Commerce. Moreover, nearly 70,000 small businesses registered and 3.1 million while consumers showed voted for their favorite small businesses. Participating small businesses from across the country were evaluated based upon their applications which were required to demonstrate a feasible growth plan, creativity, overall passion for their business and the potential to make a positive impact within the local community. Chase will offer grant recipients access to a Chase Relationship Manager who will provide guidance for utilizing the grant efficiently and effectively. Chase and LivingSocial also partnered with the U.S. Chamber of Commerce to help announce the program and drive small business engagement and participation.

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Cleartouch from Fiserv Sees Popularity Growth

Fiserv announced that six financial institutions have recently chosen “Cleartouch” from Fiserv for account processing. Related solutions for this service include online banking, risk management, check capture, mobile banking, document imaging, card production, bill payment and accounting. These institutions include Mansfield Bank, a $372-million bank headquartered in Mansfield, Mass; The Home Building & Loan Company, a $43-million bank in Greenfield, Ohio; Kennebec Federal Savings & Loan Association in Kennebec, Maine; Magyar Bank, headquartered in New Brunswick, N.J.; Webster City Federal Savings Bank, a $91-million bank in Webster City, Iowa; and Winchester Savings Bank in Winchester, Mass.

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Avangate Receives PCI DSS Certification

Avangate eCommerce service has obtained PCI DSS certification and added compliance capabilities for secure data-management. A mandatory standard for all banks, processing centers, financial organizations and merchants working with payment brands, the PCI DSS certification reflects the continued evolution of security standards. Avangate’s SkyCommerce solution includes industry-leading features that secure credit card data in dynamic transaction environments and in data centers adhering to strict compliance rules. The new Level 1 Certification comes as part of the company’s dedication to make global sales for software vendors as simple and as secure as possible.

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Monitise Projects Even Break Ahead of Schedule

Monitise technology and services company delivering mobile banking, payments and commerce networks worldwide, announces a trading update ahead of the announcement on 4 September 2012 of its financial results for the year ended 30 June 2012. As Monitise continues to enhance its reputation for delivering bank grade secure services for its customers, be it mobile banking, mobile payments or mobile commerce, the opportunities to enhance shareholder value continue to grow. The Company has invested significantly in its Monitise Enterprise Platform and technology over the past few years and is also delighted to have completed four major customer launches during June and July. The Company has a strong pipeline of future deployments. The Company is pleased to bring forward EBITDA breakeven guidance by a full quarter to September 2013. Revenue in the year grew by approximately 140% from £15m to £36m and thom £15m to £36m and the EBITDA loss reduced from £12m to £10m.

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VeriFone Sees Order Wave Through Cash-Less Initiative

VeriFone Systems has received orders to date for 80,000 units of its VX 520 payment solution as banks and merchants seek to meet the requirements of the Central Bank of Nigeria’s (CBN) “Cash-Less Lagos” initiative. Orders for VeriFone solutions represent more than half of the 150,000 total systems that the central bank expects will be deployed by the end of this year to comply with its mandate. CBN is driving modernization of Nigeria’s payment system in line with its goal of joining the top 20 economies by 2020. VeriFone’s VX 520 features a GPRS capability, extended battery life, dual SIM- which allows merchants to switch cellular networks quickly and easily- thereby overcoming issues of erratic network coverage.

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Delinquency Lows Show Record-Breaking Month

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Delinquencies for U.S. credit card ABS fell for the 30th straight month for unprecedented positive performance, according to Fitch Ratings. After peaking in January 2010 at 4.54% delinquencies currently stand at 1.82%, five basis points above the record of 1.78% set in August 1994. Additionally, the Fitch Prime Chargeoff Index is…

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