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CRIF acquires APPRO System from Equifax

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BOLOGNA, Italy, and BATON ROUGE, La. (4/7/10)--CRIF announced that it has acquired Equifax Enabling Technologies in Baton Rouge, La., which primarily consists of the APPRO suite of loan origination software from Equifax. CRIF is based in Bologna, Italy. CRIF specializes in credit reporting, business information and decision support systems. APPRO is a provider of automated credit risk management and financial technologies for online and traditional lending environments. Equifax, based in Atlanta, Ga., provides information solutions that leverage commercial and consumer data in the U.S. and 14 countries. APPRO will operate as a wholly owned subsidiary of CRIF and will be marketed and distributed under the CRIF Lending Solutions brand, along with lending services and technology offerings from other CRIF companies such as Teres Solutions, Aimbridge and FLS Services. “The APPRO acquisition increases our technological capability and flexibility, which will allow us to respond to client and market demands,” said Larry Howell, CRIF International Board chair. “APPRO will help us to greatly expand the breadth and depth of lending automation technology offerings we can provide to banks, credit unions and financial institutions,” said Carlo Gherardi, CRIF CEO.

BECU launches P2P payments service

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SEATTLE (4/7/10)--Boeing Employees CU (BECU) has launched CashEdge’s Popmoney, a person-to-person payments service. The service allows the $8.6 billion asset credit union’s members to send money from their accounts online or by mobile phone to a recipient, using the recipient’s mobile phone number, e-mail or account information (Datamonitor March 24). BECU is offering Popmoney to extend the reach of its online and mobile banking capabilities, said Howie Wu, BECU vice president of virtual banking.

Intuit Payroll helps small biz with HIRE Act

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MOUNTAIN VIEW, Calif. (4/7/10)--Intuit Inc. is updating its payroll service, Intuit Online Payroll, to help small businesses receive every new tax credit for which they are eligible under a new jobs bill. Payroll tax credits are delivered to eligible employers through reduced Social Security taxes, which lower payroll taxes for the employer. On March 18, President Barack Obama signed into law the Hiring Incentives to Restore Employment (HIRE) Act, according to Intuit. The $17 billion jobs bill will provide employers with incentives to hire unemployed workers and retain those workers for one year. The bill has two provisions that impact hiring employers--a Social Security tax exemption and business tax credit. Intuit will post information for its customers about the new jobs bill (See resource link). Intuit also will offer businesses a free 30-day trial of Intuit Online Payroll. The act includes a credit for businesses that keep qualified workers for more than 52 weeks. Benefits can provide up to $6,621 in payroll tax credits and $1,000 in business tax credits per employee (VerticalNews.com April 3). Intuit provides credit unions and other institutions with business and financial management solutions, including payroll processing.