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Edgeware Analytics enhances ScoreEdge for small biz lenders

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SAN DIEGO (4/16/08)--Edgeware Analytics, a provider of business lending tools, announced that its ScoreEdge Small Business Credit Score includes a data-driven Franchise Risk Score and access to the Small Business Administration (SBA) Franchise Registry. ScoreEdge examines application time data available to loan officers and returns a risk assessment with a score that predicts the loan’s future performance, as well as industry, geography and franchise risk. The SBA’s franchise registry allows lenders to verify a franchise system’s lending eligibility. The link provides real-time searching and reporting on the registry, saving lenders time. Edgeware provides tools used by financial institutions including credit unions.

PSCU Financial Services issues 24.1 million in dividends

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ST. PETERSBURG, Fla. (4/16/08)--PSCU Financial Services, a credit union service organization (CUSO), will issue $24.1 million in dividends to its member-owners for 2007, the company announced Monday. This is the fourth year the dividend exceeds $20 million. The dividend also includes $5.1 million in MasterCard dividends that were issued to credit unions that process MasterCard transactions through the CUSO. The dividends result from stock redemptions by MasterCard. PSCU will pay $12.05 million, or 50% of the 2007 dividend in cash. The remaining amount will be paid at a later date. The CUSO also reported 2007 revenue of $565 million--an 11% increase over 2006. The increased revenue was due to a 17% increase in transactions. More than $19.6 million in savings also were passed in 2007 to members. PSCU serves more than 1,100 credit unions.

Triton alleges its data used to form rival ATM company

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LONG BEACH, Miss. (4/16/08)--ATM manufacturer Triton Systems of Delaware Inc. has filed a lawsuit against Global Cash Services and six former Triton employees alleging they misappropriated data to start a competing firm. The lawsuit was filed Feb. 14 in Harrison County (Miss.) Chancery Court for the First Judicial District in Gulfport, Miss. A hearing is scheduled for May 13-15 (ATMmarketplace.com April 15 and ATM&Debit News April 10)). The suit says former Triton president/CEO Brian J. Kett and five other senior executives organized Global Cash Services LLC, a Nevada limited-liability company, and in doing so violated non-compete and confidentiality agreements with Triton (ATM&Debit News April 10). According to the lawsuit filed, Global Cash formed an alliance with China-based GRG Banking Co. Ltd., to manufacture ATMs for Global Cash. Global Cash would compete against Triton in North America and several other countries, said the lawsuit. The suit asked the court to stop the former Triton executives from doing business competing and is seeking undisclosed damages. Triton is a division of Dover Corp., based in New York.