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Products Archive

Products

PSCU Financial campaign nets debit growth for CU

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ST. PETERSBURG, Fla. (6/2/08)--Y-12 FCU, Oak Ridge, Tenn., boosted its active accounts and average transactions after participating in a PSCU Financial Services activation campaign. The credit union’s active accounts increased to 74% in March 2008, from 60% in March 27. The average number of debit transactions also increased to 24.4 from 22.9 during the same time period. “We had more than 450 accounts go from completely inactive to an average of 24 transactions at month,” said John Stegner, vice president and chief financial officer, Y-12. Y-12 had 566,000 debit transactions in March 2008, compared with the December 2007 transaction total of 554,000, Stegner added. PSCU’s fall campaign offered CURewards points or cash to qualified cardholders who made 10 debit purchase transactions during the tracking period. Y-12 also is participating in a spring debit promotion that targets accounts that post less than 10 transactions a month. Cardholders with at least 15 transactions receive a $10 prepaid gas card. PSCU noted that as a whole, it topped 500 million transactions in 2007--a 117% growth over 2003 transaction volume, the company said. “Credit unions need to remain actively engaged in marketing their debit card portfolios to participate fully in the expansion of debit card use,” said Gina Pask, PSCU manager of debit program management and development. PSCU is a credit union service organization based in St. Petersburg.

Products and Services briefs (05/30/2008)

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* ENGLEWOOD, Colo. (6/2/08)--Dynamic Card Solutions, developer of CardWizard and other software services for financial institutions including credit unions, announced that it has released CardWizard 4.0. It offers complete chip personalization, which means the system can instantly issue cards with contactless chips and magnetic stripes. It also will allow for a fully personalized, thermally printed and unembossed card for cardholders. Other features include expanded camera support for photo capture, expanded key injection security, a rewritten Bach Input component and improved font capabilities. CardWizard 4.0 has been in beta testing since March ... * GLASTONBURY, Conn. (6/2/08)--Open Solutions continues to expand its international presence by partnering with Senior Solution, a Brazilian software and services provider. Through the agreement, Senior Solution will offer all Open Solutions’ products and services, including The Complete Banking Solution: DNA/The Complete Credit Union Solution. The platform integrates with Senior Solution’s wholesale banking system for treasury, brokerage and insurance markets, the company said in a release. “Our goal is to partner with organizations throughout the world,” said Louis Hernandez Jr., Open Solutions chairman and CEO ... * MEMPHIS, Tenn. (6/2/08)--uMonitor, a financial solution services provider for banking customer acquisition and retention, received one of the Memphis Business Journal’s 28th Annual Small Business Awards. The company competed with 19 other finalists in four categories selected from more than 100 nominations that recognized the achievements of businesses and executives throughout the Mid-South. uMonitor closed 2007 with a 60% increase in revenue, said Dinesh Sheth, uMonitor CEO. uMonitor provides provides products such as uOpen and uFund, an online account opening and funding service, and uTransfer, an online money management system. Its products are deployed with core platforms from providers such as Open Solutions, Fidelity National Information Systems, Fiserv and Symitar ...