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Products Archive

Products

CUAnswers issues call for tiered-service ideas

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GRAND RAPIDS, Mich. (7/28/08)--CU*Answers will hold a focus group Oct. 9 in Grand Rapids to solicit ideas for improving CU*BASE Tiered Services programming, which allows users to score member relationships and apply tiered pricing and rewards programs, and track member demographics and behavior. Focus group questions include:
* What additional items should be scored? * What about a separate scoring/rewards system for organizational accounts? And * What’s the next step for Lifetime Points?
CU*Answers is tweaking the application to keep in step with expanding credit union core competencies and evolving consumer behavior, said Randy Karnes, CU*Answers CEO. “We’ll probably have 30 or more people from many different credit unions, from managers to marketers to member service leaders,” said Dawn Moore, CU*Answers vice president of writing and product design. CU*Answers is a credit union service organization in Grand Rapids, Mich.

Triton Media reports of its closing are false

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LONG BEACH, Miss. (7/28/08)--Media reports Wednesday that Dover Corp. plans to close subsidiary Triton, a Long Beach, Miss.-based ATM manufacturer, are incorrect, says Triton. The Associated Press has since corrected its article, according to Triton. “We want to take this opportunity to let our customers know that reports by the media that Dover, Triton’s parent company, is closing Triton are false,” said Bill Johnson, Triton president/CEO. “Dover has no plans to close Triton.” The confusion has been attributed to a sentence in a press release from Dover explaining second-quarter results, which stated that “the loss from discontinued operations primarily reflects the decision in the second quarter to discontinue Triton in the Engineered Products segment.” The reference to “discontinued operations” in the context does not refer to the closing of the company. Rather, it is an accounting term, governed by laws that public companies must follow, which means that profits from that business are not reported in the parent companies overall numbers, Triton said. “We hope this clears up any confusion,” Johnson said. Dover Corp. reportedly has a “viable buyer” for Triton lined up and is moving ahead with the process of selling the company, according to Robert Livingston, Dover president/CEO (ATM & Debit News July 24). Triton is a provider of off-premise ATMs.

Fortents new software aims to cut costs

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NEW YORK (7/28/08)--Fortent has released due diligence technology, Fortent KYC 3.2, which is aimed at helping credit unions cut costs by eliminating the need for analysts to manage multiple data feeds. With KYC 3.2, the riskiest members get the most attention, the company said. The technology can be implemented at an institution in a few weeks and is available as a hosted solution that can be up and running in three days, the company said. Staff compensation accounts for about 60% of financial institutions’ direct compliance spending, Fortent said. “Fortent set out to develop a KYC solution that would make a dramatic return-on-investment impact--with the goal of earning payback in less than one year,” said Sandy Jaffee, Fortent chairman/CEO.

TMG offers payroll cards

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DES MOINES, Iowa (7/28/08)--The Members Group (TMG) announced that it will offer payroll cards to credit union members. The payroll card service is a part of the ATIRApay program, which has been in a pilot phase since July 2007. ATIRApay cards offer employers a way to distribute payroll checks, health care benefits and incentive pay through reloadable, prepaid cards. The cards are powered by Visa or MasterCard and are issued by the employer’s credit union, making them usable anywhere major debit cards are accepted. They also work as ATM cards. “It costs an average of $2 to $20 per employee to process traditional payroll checks,” said Jeff Falk, TMG director of product development. “Employers looking to save that expense are finding ATIRApay a great solution.”