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Products

Payveris adds another partner with Malauzai

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WETHERSFIELD, Conn. (3/3/15)--Malauzai Software, a provider of mobile and Internet banking SmartApps for community financial institutions, has partnered with digital payments services provider Payveris to offer payments services.

The two companies have created a core-neutral integration between Malauzai's SmartApps and Payveris' bill pay, account-to-account transfer, and person-to-person (P2P) payments via Payveris' PayItNow network. The integration places P2P functionality directly into the mobile banking SmartApp and enables credit union members to securely conduct payments via email or text message using a security challenge question.
 
In January, Payveris partnered with the Grand Rapids, Mich.-based credit union service organization CU*Answers to provide online banking and payment services to credit unions ( News Now Jan. 28). Through that partnership, CU*Answers made a financial investment into privately held Payveris.
 

EPL gains investment from Dedagroup

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BIRMINGHAM, Ala. (3/2/15)--Italian software and information technology company Dedagroup ICT Network has made an equity investment in data processor EPL Inc., a credit union service organization.

Dedagroup generated revenue of roughly $3 billion in 2014. The 74 members of EPL's management and employee teams will continue to operate the company's day-to-day activities, the companies said.
 
Dedagroup NA's investment in EPL is the company's entrance into the U.S. market. It follows the 2009 formation of Dedagroup's Mexican subsidiary, Dedamex. Dedagroup serves the grocery, financial services and fashion industries.
 
"Our team members have dedicated themselves to setting the bar for outstanding data-processing services across the country," said Wayne Benson, EPL president/CEO. "Dedagroup's investment in our company and team represents a transformative opportunity to capture market share while continuing our commitment to serving the U.S. credit union industry at the highest levels."
 
EPL was founded in 1977 and, in addition to Dedagroup, remains owned by seven credit unions and the League of Southeastern Credit Unions.

ProfitStars, SmartPay Express supports small biz payments

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MONETT, Mo. (2/27/15)--ProfitStars, a division of Jack Henry and Associates, has introduced an online payment and donation platform for businesses.
 
ProfitStars' EPS SmartPay Express processes payments in a hosted environment, managing the security and information technology concerns for businesses. The platform provides a custom-branded URL and microsite for each business and supports single or recurring payments from:
  • Checking or savings accounts (processed as an ACH transaction);
  • Credit or debit cards;
  • PayPal accounts; and
  • PayNearMe cash payments.
EPS SmartPay Express offers credit union business members different options for configuring payments. For example, they can permit access to the Quick Pay feature, which enables one-time payments without logging in and storing customer information, or they can require users to register and sign in, storing credentials and sensitive information within ProfitStars.
 
The platform can also be configured to auto-fill selected fields for returning users. The data is available through ProfitStars' reports and can be easily exported in a variety of formats.

LEVERAGE adds accounting, consulting to audit group

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BIRMINGHAM, Ala., and TALLAHASSEE, Fla. (2/26/15)--LEVERAGE, an affiliate of the League of Southeastern Credit Unions (LSCU), announced that HLM Accounting and Consulting Services Inc. has joined its CU Audit and Compliance Group.

The new alliance expands the coverage of CU Audit and Compliance Group to Georgia. In addition to Georgia, CU Audit and Compliance Group serves Alabama, Florida, Tennessee and Mississippi.

"HLM is a great addition to the CU Audit and Compliance Group," said Patrick La Pine, president/CEO of LEVERAGE and LSCU. "By expanding into Georgia, more credit unions can take advantage of the expertise of the CU Audit and Compliance Group. Having an audit done by a company that only works with credit unions is very valuable."

With the addition of HLM Audit and Consulting, CU Audit and Compliance Group now offers supervisory committee audits, interim audits, Bank Secrecy Act (BSA) audits, ACH audits, opinion audits, verification of member accounts, fraud investigation, IRS Form 990 filing, 5300 Call Report filing and consulting.

The CU Audit and Compliance Group has staff members who are CPAs, credit union risk-management experts, credit union compliance experts and BSA compliance specialists.

HLM Audit and Consulting Services was established by Harvey Mayes. The business is currently based in Jacksonville, Fla., and has more than 20 clients located primarily in south Georgia.

LSC among trio to create CU Mobile Apps group

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NAPERVILLE, Ill. (2/25/15)--Three companies have partnered to deliver CU Mobile Apps, a provider of mobile banking solutions.

The three companies that form the partnership are LSC, a subsidiary of the Illinois Credit Union League; technology consultant Member Service Solutions LLC; and Metova LLC, a mobile applications provider.

"The CU Mobile Apps platform heightens two-way communication between credit unions and their members," said Sean Hession, president/CEO, Illinois Credit Union System. 

"Over time, it will reduce credit union reliance on transactional, interchange-based revenue and allow credit unions to draw closer to their members as their trusted partner in financial decisions small and large."

CU Mobile Apps is a customizable, turnkey mobile delivery solution for credit unions that integrates the credit union's current banking solution, remote deposit capture capability, integrated locator searches, person-to-person solutions, social media, and podcasts with two-way credit union communication access. It takes a credit union to a full-service mobile app from an online banking or mobile banking tool, putting the power of a credit union right into the member's hands.

"CU Mobile Apps ensures credit unions will have the edge not only to survive, but thrive, in the age of tech-savvy members," Hession said. "This powerful mobile platform is helping credit unions design their future."

Corporate One reports ACH success

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COLUMBUS, Ohio (2/24/15)--Corporate One FCU, Columbus, Ohio, reports that over the past three years the number of its member credit unions offering their small business members or select employee groups (SEGs) ACH origination services has more than doubled, increasing to more than 100 business originators at year-end 2014 from 48.
 
"We took a look at the numbers a few years ago, and realized there was a lot of market share to be had for credit unions in the ACH origination space," said Kay Moon, Corporate One's senior vice president/chief operating officer. "Combine this with the fact that ACH is one of the fastest growing payment options among consumers, and it was clear to us that with ACH Origination credit unions could provide an effective and desired payment option to their small business members/SEGs, while also strengthening their bottom line.
 
Moon said the Corporate One made a concerted effort to provide educational opportunities to its members and enhanced service offerings. "We also launched a promotion to encourage credit unions to consider ACH origination as a viable addition to their service offerings to businesses, offering free ACH origination accounts for capitalized members' new business originators through July 31, 2015," she added.
 
Offering ACH origination to business members provides many benefits to credit unions and their business members alike. Credit unions are able to expand and deepen relationships with their business members, while earning additional revenue that comes from having a new line of business.

Fiserv among Fortune's most admired for 2nd year

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BROOKFIELD, Wis. (2/23/15)--Fiserv Inc. has been named to FORTUNE magazine's 2015 list of World's Most Admired Companies in the financial data services category.
 
This is the second consecutive year the company has been named to the list.
 
"Our people are the foundation upon which this recognition is based, and I'm very proud of their commitment to client excellence," said Jeffery Yabuki, Fiserv president/CEO. "Their dedication to serving our clients each day is what makes Fiserv one of the most admired companies in the world."
 
Thousands of executives, directors and analysts are surveyed to create the annual FORTUNE World's Most Admired Companies list. Survey respondents are asked to rate companies based on nine key attributes including innovation, people management, use of corporate assets, social responsibility to the community and environment, quality of management, financial soundness, long-term investment value, quality of products or services, and global competitiveness.