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Harland Clarke partners with Memento

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SAN ANTONIO (5/19/11)--Harland Clarke Corp., a payments provider, has partnered with Memento Inc. to offer Harland’s nearly 11,000 financial institution clients Memento’s enterprise fraud and compliance solutions. Memento’s proprietary software helps banks fight fraud related to checks, deposits, automated clearing house and internal issues. In 2008, financial institutions experienced more than $1 billion in losses due to check, deposit and kiting fraud, according to the American Bankers Association’s 2009 Deposit Account Fraud Study Report. In the same year, insider fraud accounted for about 60% of bank fraud cases where a data breach or theft of funds occurred, according to estimates by financial services research and consulting firm Celent. “Harland Clarke’s goal is to continually help our financial institution clients achieve greater success by addressing their needs,” said Dan Singleton, Harland Clarke, president/CEO. “As these needs evolve, so do the solutions we offer. “Memento has proven itself in providing the next-generation technology required to effectively combat fraud and compliance issues faced by banks and credit unions. Its solutions are recognized as offering exceptional accuracy, rapid return on investment and unmatched business value.”

PiggyBanc waives e-check fees

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AMHERST, N.H. (5/19/11)--PiggyBanc, a social networking website dedicated to saving, is waiving its e-check fees. PiggyBanc.com combines social media with payment technology to create a virtual savings portal, securely linked to the member's federally insured deposit account at participating credit unions through Financial Service Centers Cooperative. The PiggyBanc website can be individually co-branded for credit unions. Relatives and friends can join a member’s PiggyBanc network through participating credit unions and use the online system to send birthday gifts, contribute toward college savings goals, or recognize other important events. Teenagers can also accept credit card payments for babysitting and other odd jobs through the PiggyBanc network. Credit unions benefit from more engaged relationships with younger members, according to PiggyBanc, because members are encouraged to return to the credit union's website through automated contribution notices and thank you reminders. “As we continue to add new credit union partners, we’re constantly looking for ways to enhance the system,” says Christopher Jay, founder and president of PiggyBanc Corp. He noted the company is working “to roll out several other significant enhancements over the next few months.”