Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
First Data adds new account opening program
ATLANTA, Ga. (10/18/10)--First Data Corp., an electronic commerce and payment processor with credit unions among its clients, has signed an agreement with MeridianLink Inc. to add XpressAccounts, an automated new member application and account opening program to its Internet banking service. Meridian was chosen because of its flexibility, said First Data. There is an increasing consumer demand for this capability, the Javelin Strategy and Research firm reports. The No. 1 benefit, a Javelin study found, is that online account opening can significantly reduce the cost of opening and servicing accounts. Javelin estimates that processing an application manually costs banks and credit unions an average of about $60. That's higher than the cost estimates from online account opening vendors, showing a mid-range of $15. MeridianLink Inc. is a provider of enterprise business solutions for end users in the financial services industries.


RSS print
News Now LiveWire
Decades-high number of #VA loans boost housing #market #NewsNow http://t.co/RhGPMs0w9e
2 hours ago
85% of members for 100% safe with their #creditunion, says @fileneresearch study. See #newsnow http://t.co/a3deRHSp5x
2 hours ago
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
19 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
21 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
21 hours ago