| » Publisher's Corner |
You Can Run, But You Cannot Hide! Or Can You?
TPAtlanta has spent the last three months describing some of the less desirable aspects of the worldwide Transaction Processing Industry. We first described how terrorists can use Hawala to move money quietly, quickly, and surrepetiously. We then explored the many facets of money laundering including how money laundering can impact the economies of the world if left unchecked and what efforts are underway to curtail money laundering.
This month we will conclude our series on money laundering and non-electronic funds transfer mechanisms. We hope that these columns have proved useful and educational to you as Transaction Processing professionals by revealing to you how things can go wrong in the very industry where we all earn our livings.
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Calvin D. Johnson, Publisher
publisher@tpatlanta.com
Trans Atlantic Systems, Inc.
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| » Editorials/People |
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Industry Fast Facts 
Adoption
- Nearly 30 percent of U.S. consumers now say they pay bills online, the largest share ever recorded in the four years since the American Banker/Gallup Consumer Survey first asked this question.
- By 2007, 65 million U.S. adults will view their bills online, of which 65 percent will use a blended biller direct and bank aggregation model.
- Thirty-five million U.S. consumers are paying bills online, and that number is expected to increase to 65 million by 2007.
- A new study by Celent Communications predicts that online bill payment, as a percentage of all bill payment methods, will increase from 10 percent in 2003 to 29 percent in 2007, to the detriment of paper checks, which will fall from 59 percent to 29 percent over the same time frame.
- Online banking usage jumped 47 percent in two years, reaching 53 million people in November 2004. On a typical day online, 13 million Americans are performing banking chores over the Internet, a 58 percent jump from late 2002.. Those with broadband connections at home were far more likely to have tried online banking: 63 percent versus 32 percent of those with dial-up connections.
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» Feature Stories |
American Express to buy Harbor Payments
American Express Co. is buying Harbor Payments, a payment systems company that will allow businesses buying wholesale goods to pay electronically, officials at the companies said.
The move comes as American Express tries to expand in the $15 trillion annual wholesale payment business. Terms of the transaction were not disclosed. Harbor Payments is privately held.
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What Banks Don't Know About E-mail Archiving Can Hurt Them Recent lawsuits and fines over e-mail archiving draw attention to the dark side of e-mail management
Overflowing e-mail in-boxes are more than just annoyances -- now, they're also liabilities. Financial institutions increasingly are being judged on the way they manage their e-mail, and they're getting hit hard if they're found to be doing it the wrong way.For example, in September, Wachovia Capital Markets, the parent group of Charlotte, N.C.-based Wachovia Bank ($504 billion in assets), was fined $2.25 million by the New York Stock Exchange for failing to comply with rules relating to electronic communications in violation of Section 17(a) of the Securities Exchange Act of 1934.
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| » Earlier this week |
Arvest Bank Fights Fraud with CheckFree FraudNet(TM)
CheckFree Corporation announced that Arvest Bank has deployed CheckFree FraudNet(TM), a proactive fraud detection and case management system, as part of a comprehensive security and anti-fraud initiative.
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ePayments Corp. Launches Educational Financial Services Division
ePayments Corp., a leading electronic payments processing and support services company, has announced the launch of a new division to serve the education marketplace, specializing in school nutrition programs for grades K through 12.
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Global Payments to Announce Second Quarter Earnings on January 5, 2007
Global Payments Inc., a leader in payment processing services, will release second quarter financial results for fiscal year 2007 before the market opens on Friday, January 5, 2007.
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S1 Corporation Announces Preliminary Results of Tender Offer
S1 Corporation announced the preliminary results of its modified "Dutch Auction" tender offer, which expired at 12:00 midnight, Eastern Time, on Thursday, December 14, 2006.
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| » Industry News |
Equifax® Customizes InterConnect® Decisioning Solutions for Telecommunications and Utility Companies
Equifax Inc announced the launch of an application processing and risk decisioning solution designed specifically for telecommunications, utility and cable companies.
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TRX to acquire HI-MARK SOFTWARE
TRX, Inc., announced the execution of an agreement to acquire Hi-Mark Software, an Atlanta-based provider of data acquisition and business intelligence technologies.
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NOVA Enhances Electronic Check Service
NOVA Information Systems (NOVA), announced that it has enhanced its Electronic Check Service (ECS) product to meet the needs of multi-lane retailers by eliminating the investment in check imaging technology at the point of sale (POS).
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Standard Chartered PLC and First Data Form a Merchant Acquiring Alliance Across Asia
Standard Chartered PLC and First Data Corp. announced they have entered into an agreement to jointly establish a new company to provide merchant acquiring services to merchants across Asia.
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