TSYS and FNBO Finalize First National Merchant Solutions Joint Venture

April 01, 2010 10:02 AM Eastern Daylight Time  

TSYS and First National Bank of Omaha Finalize First National Merchant Solutions Joint Venture

COLUMBUS, Ga.--(BUSINESS WIRE)--TSYS (NYSE: TSS) and First National Bank of Omaha (FNBO) announced today the consummation of their joint venture transaction pursuant to which TSYS acquired a 51% interest in FNBO’s merchant acquiring business for approximately $150.5 million. FNBO retained a 49% interest in the newly formed company, First National Merchant Solutions, LLC (FNMS).

FNMS previously operated as a subsidiary of FNBO and offers merchant acquiring services, transaction processing and business and value-added services, as well as Visa^®- and MasterCard^®-branded prepaid cards. Ranked as the 10th-largest merchant acquirer in North America by dollar volume*, FNMS has more than 50 years of experience providing first-rate service and solutions to businesses across the United States. For more information, visit www.fnms.com.

*The Nilson Report March 2009

About TSYS

TSYS (NYSE: TSS) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information contactnews@tsys.com or log on to www.tsys.com. TSYS routinely posts all important information on its Web site.

About First National Bank of Omaha

First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska has grown into the largest private banking company in the United States. First National and its affiliates have more than $17 billion in managed assets and nearly 5,700 employees located in 35 states. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.

Contacts

TSYS Media Relations

Cyle Mims, +1.706.644.3110

cylemims@tsys.com

or

TSYS Investor Relations

Shawn Roberts, +1.706.644.6081

shawnroberts@tsys.com

or

First National of Nebraska

Kevin Langin, +1.402.602.3541

Director of Public Relations

klangin@fnni.com

At A Glance

TSYS

Source: via Business Wire Updated   07/07/2009   by company
Headquarters:	Columbus, GA
Website:	http://www.tsys.com
CEO:	Philip Tomlinson
Employees:	8,110
Ticker:	TSS  (NYSE)
Revenues:	$1.9 billion (2008)
Net Income:	$250 million (2008)

Permalink: http://www.businesswire.com/news/home/20100401005842/en/TSYS-National-Bank-Omaha-Finalize-National-Merchant

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• TSYS to Broadcast Fourth-Quarter 2009 Results (pindebit.blogspot.com)


• TSYS Signs Agreement with Caterpillar Financial Services (pindebit.blogspot.com)

TSYS and FNBO Finalize First National Merchant Solutions Joint Venture

April 01, 2010 10:02 AM Eastern Daylight Time  

TSYS and First National Bank of Omaha Finalize First National Merchant Solutions Joint Venture

COLUMBUS, Ga.--(BUSINESS WIRE)--TSYS (NYSE: TSS) and First National Bank of Omaha (FNBO) announced today the consummation of their joint venture transaction pursuant to which TSYS acquired a 51% interest in FNBO’s merchant acquiring business for approximately $150.5 million. FNBO retained a 49% interest in the newly formed company, First National Merchant Solutions, LLC (FNMS).

FNMS previously operated as a subsidiary of FNBO and offers merchant acquiring services, transaction processing and business and value-added services, as well as Visa^®- and MasterCard^®-branded prepaid cards. Ranked as the 10th-largest merchant acquirer in North America by dollar volume*, FNMS has more than 50 years of experience providing first-rate service and solutions to businesses across the United States. For more information, visit www.fnms.com.

*The Nilson Report March 2009

About TSYS

TSYS (NYSE: TSS) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information contactnews@tsys.com or log on to www.tsys.com. TSYS routinely posts all important information on its Web site.

About First National Bank of Omaha

First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska has grown into the largest private banking company in the United States. First National and its affiliates have more than $17 billion in managed assets and nearly 5,700 employees located in 35 states. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.

Contacts

TSYS Media Relations

Cyle Mims, +1.706.644.3110

cylemims@tsys.com

or

TSYS Investor Relations

Shawn Roberts, +1.706.644.6081

shawnroberts@tsys.com

or

First National of Nebraska

Kevin Langin, +1.402.602.3541

Director of Public Relations

klangin@fnni.com

At A Glance

TSYS

Source: via Business Wire Updated   07/07/2009   by company
Headquarters:	Columbus, GA
Website:	http://www.tsys.com
CEO:	Philip Tomlinson
Employees:	8,110
Ticker:	TSS  (NYSE)
Revenues:	$1.9 billion (2008)
Net Income:	$250 million (2008)

Permalink: http://www.businesswire.com/news/home/20100401005842/en/TSYS-National-Bank-Omaha-Finalize-National-Merchant

Related articles by Zemanta

• TSYS Forms Merchant Acquiring Joint Venture With First National Bank of Omaha (eon.businesswire.com)


• TSYS to Provide Payment Services to B+S Card Service and Its Merchant Clients (pindebit.blogspot.com)


• TSYS to Broadcast Fourth-Quarter 2009 Results (pindebit.blogspot.com)


• TSYS Signs Agreement with Caterpillar Financial Services (pindebit.blogspot.com)

Town of Poughkeepsie Recoups Losses from Online Banking Cybertheft

SearchFinancialSecurity.com is reporting that "the money stolen from the online banking account of the Town of Poughkeepsie in New York has been restored" according to town officials.  If money transfers were authenticated using a PCI 2.0 Certified PIN Entry Device then instances such as this could be avoided.

With the help of its bank, Cherry Hill, N.J.-based TD Bank, and law enforcement authorities, all of the $378,470 stolen by cybercriminals earlier this year has been restored, Supervisor Patricia Myers said in a March 18 statement.  Criminals stole the money in four unauthorized transfers on Jan. 12 and deposited the funds into bank accounts in the Ukraine, Myers said in February. At the time, she said the Town had recovered $95,000 of the lost funds, which were then calculated at $378,000.  Myers had criticized TD Bank for not catching the unauthorized transfers, but with the restoration of the funds, she praised the bank for "its professional response to the situation" and said the town is happy to have "a banking partner that works hard to identify ways to help customers protect their money."

Continue Reading

Town of Poughkeepsie Recoups Losses from Online Banking Cybertheft

SearchFinancialSecurity.com is reporting that "the money stolen from the online banking account of the Town of Poughkeepsie in New York has been restored" according to town officials.  If money transfers were authenticated using a PCI 2.0 Certified PIN Entry Device then instances such as this could be avoided.

With the help of its bank, Cherry Hill, N.J.-based TD Bank, and law enforcement authorities, all of the $378,470 stolen by cybercriminals earlier this year has been restored, Supervisor Patricia Myers said in a March 18 statement.  Criminals stole the money in four unauthorized transfers on Jan. 12 and deposited the funds into bank accounts in the Ukraine, Myers said in February. At the time, she said the Town had recovered $95,000 of the lost funds, which were then calculated at $378,000.  Myers had criticized TD Bank for not catching the unauthorized transfers, but with the restoration of the funds, she praised the bank for "its professional response to the situation" and said the town is happy to have "a banking partner that works hard to identify ways to help customers protect their money."

Continue Reading

Browser Security Looms as Big Issue in Online Banking

Browser security looms as big issue

March 31, 2010 — 4:15pm ET | By Jim Kim

We've noted that cybercriminals have increasingly found ways to compromise the bank accounts of small enterprises, many of whom lack the online savvy to thwart the bad guys. What role does the bank play in this? Well, it might surprise you to learn that U.S. banks aren't exactly on the forefront of security when it comes to online banking by its customers.

Bank Technology News says this: "U.S. banks fret that desktop security features could inconvenience the customer and hurt the online experience. But they also fear liability-that by recommending a security feature for clients, the bank will be held legally responsible if any security-related losses occur."

At least one expert says that U.S. banks are lagging their counterparts in Europe by about 18 months when it comes to security offerings. But you would have to think that U.S. banks will change their tune on browser security as liability from breaches (data breach news) slowly starts to grow. Fifth Third has decided to be a pioneer. It will launch a pilot security solution for corporate clients that aims to "lock down" the online banking session between the customer's computer and the bank. The specifics are unclear but it may require some extra software and few more steps. Still, the inconvenience would be worth it for added safety--but if a breach still occurs, then what? 

For more:  - here's the article

Read more: http://www.fiercefinanceit.com/story/browser-security-looms-big-issue/2010-03-31#ixzz0jshVgE2I

Browser Security Looms as Big Issue in Online Banking

Browser security looms as big issue

March 31, 2010 — 4:15pm ET | By Jim Kim

We've noted that cybercriminals have increasingly found ways to compromise the bank accounts of small enterprises, many of whom lack the online savvy to thwart the bad guys. What role does the bank play in this? Well, it might surprise you to learn that U.S. banks aren't exactly on the forefront of security when it comes to online banking by its customers.

Bank Technology News says this: "U.S. banks fret that desktop security features could inconvenience the customer and hurt the online experience. But they also fear liability-that by recommending a security feature for clients, the bank will be held legally responsible if any security-related losses occur."

At least one expert says that U.S. banks are lagging their counterparts in Europe by about 18 months when it comes to security offerings. But you would have to think that U.S. banks will change their tune on browser security as liability from breaches (data breach news) slowly starts to grow. Fifth Third has decided to be a pioneer. It will launch a pilot security solution for corporate clients that aims to "lock down" the online banking session between the customer's computer and the bank. The specifics are unclear but it may require some extra software and few more steps. Still, the inconvenience would be worth it for added safety--but if a breach still occurs, then what? 

For more:  - here's the article

Read more: http://www.fiercefinanceit.com/story/browser-security-looms-big-issue/2010-03-31#ixzz0jshVgE2I

National Strategy for Secure Online Transactions

White House wants online authentication standards

Thursday, April 1, 2010 in Library

by Zack Martin, Editor, Avisian Publications

President Obama has created a group called the National Strategy for Secure Online Transactions. The charge of the organization is to produce a framework that may eventually lead to U.S. citizens using strong authentication when conducting business on the Internet.

The vision of the group is: “To improve the trustworthiness and security of online transactions by facilitating the establishment of interoperable trust frameworks and implementation of improved authentication technology and processes for all online transaction participants, across federal, civil and private sectors.”

---

The rise of identity theft and growing concerns around cybersecurity are the reasons behind the groups activities. The group will work with government officials, industry and citizens to create a framework for online authentication. “Securing these transactions and creating a trusted online environment became a critical national priority with the release of the President’s Cyberspace Policy Review, resulting in a short-term action that recommends this strategy,” states a document in the stakeholder package for the group.

The benefits of the strategy propose to be:

• Protection of personal privacy and identity information when collected.


• Reduced financial losses and improved recovery from identity fraud.


• Ubiquitous availability of recognizable, credible, and interoperable identity media to the general public.


• Increased consumer confidence in online transactions.


• Availability of e-Government services for citizens and industry at the Federal and State level.


• Overall increased efficiency and improved user experience – fewer passwords, more online services, reduced dependency on paper transactions.


• Increased innovation to account for new business opportunities, markets, and connectivity and availability of services as industry sectors advance their cyber presence.


• Further development of interoperable standards for authentication of people, devices, software, and data.


• Increased public and industry awareness.


• Reduced identity theft even as dependence on online transaction increases.

Documents state that end results will be a partnership between public and private sector. One idea that’s been floated is creating businesses where citizens can go and bet vetted and then receive some type of authentication token, be it a smart card, one-time password or digital certificate on a computer. Whether this will be the end result is not yet know.

The identity services will also be tailored to a market, for example health care, tax, online banking, energy utilities, etc. There will also be several layers of assurance, similar to FIPS 201, that will equal with the level of risk associated with the transaction.

When it’s all said and done, the National Strategy for Secure Online Transactions aims to:

• Foster the creation and adoption of federated identity frameworks that use a variety of authentication methods


• Encourage the use of authentication methods with well-understood security, privacy, usability and cost characteristics


• Encourage the use of authentication methods resistant to known and projected threats


• Provide a general trust model for making trust-based authentication decisions between two or more parties

The strategy will apply to government-to-citizen, consumer-to-business, business-to-business and other transactions.

The group is on a tight deadline. Stakeholder outreach is underway and a first draft is already in the works. The timeline has Obama signing the framework by the end of July.  

National Strategy for Secure Online Transactions

White House wants online authentication standards

Thursday, April 1, 2010 in Library

by Zack Martin, Editor, Avisian Publications

President Obama has created a group called the National Strategy for Secure Online Transactions. The charge of the organization is to produce a framework that may eventually lead to U.S. citizens using strong authentication when conducting business on the Internet.

The vision of the group is: “To improve the trustworthiness and security of online transactions by facilitating the establishment of interoperable trust frameworks and implementation of improved authentication technology and processes for all online transaction participants, across federal, civil and private sectors.”

---

The rise of identity theft and growing concerns around cybersecurity are the reasons behind the groups activities. The group will work with government officials, industry and citizens to create a framework for online authentication. “Securing these transactions and creating a trusted online environment became a critical national priority with the release of the President’s Cyberspace Policy Review, resulting in a short-term action that recommends this strategy,” states a document in the stakeholder package for the group.

The benefits of the strategy propose to be:

• Protection of personal privacy and identity information when collected.


• Reduced financial losses and improved recovery from identity fraud.


• Ubiquitous availability of recognizable, credible, and interoperable identity media to the general public.


• Increased consumer confidence in online transactions.


• Availability of e-Government services for citizens and industry at the Federal and State level.


• Overall increased efficiency and improved user experience – fewer passwords, more online services, reduced dependency on paper transactions.


• Increased innovation to account for new business opportunities, markets, and connectivity and availability of services as industry sectors advance their cyber presence.


• Further development of interoperable standards for authentication of people, devices, software, and data.


• Increased public and industry awareness.


• Reduced identity theft even as dependence on online transaction increases.

Documents state that end results will be a partnership between public and private sector. One idea that’s been floated is creating businesses where citizens can go and bet vetted and then receive some type of authentication token, be it a smart card, one-time password or digital certificate on a computer. Whether this will be the end result is not yet know.

The identity services will also be tailored to a market, for example health care, tax, online banking, energy utilities, etc. There will also be several layers of assurance, similar to FIPS 201, that will equal with the level of risk associated with the transaction.

When it’s all said and done, the National Strategy for Secure Online Transactions aims to:

• Foster the creation and adoption of federated identity frameworks that use a variety of authentication methods


• Encourage the use of authentication methods with well-understood security, privacy, usability and cost characteristics


• Encourage the use of authentication methods resistant to known and projected threats


• Provide a general trust model for making trust-based authentication decisions between two or more parties

The strategy will apply to government-to-citizen, consumer-to-business, business-to-business and other transactions.

The group is on a tight deadline. Stakeholder outreach is underway and a first draft is already in the works. The timeline has Obama signing the framework by the end of July.  

Retail E-Commerce Resumes Double-Digit Growth

Retail E-Commerce Resumes Double-Digit Growth

A new eMarketer report forecasts a return to robust growth in the US retail e-commerce market after two years of subpar gains.

Full Article

Retail E-Commerce Resumes Double-Digit Growth

Retail E-Commerce Resumes Double-Digit Growth

A new eMarketer report forecasts a return to robust growth in the US retail e-commerce market after two years of subpar gains.

Full Article

Jack Henry & Associates Announces 250th Mobile Banking Customer

goDough(R) Mobile Banking Solution Continues Rapid Adoption Among Diverse Financial Institutions

MONETT, Mo., April 1 /PRNewswire-FirstCall/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that goDough, its state-of-the-art mobile banking solution, has been selected by 250 of its core financial institution clients.  goDough was introduced in November 2007 and now supports more than 63,000 subscribers of 63 mobile service carriers.

goDough, the browser-based solution developed internally by Jack Henry & Associates, is compatible with any Web-enabled mobile device regardless of make or model and all mobile phone carriers. This proprietary solution enables bank customers and credit union members to conduct traditional in-branch and online transactions such as balance inquiries, funds transfers between accounts, and transaction viewing; and supports all account types, including checking, certificates-of-deposit, money markets, loans, and lines-of-credit.  goDough also enables users to receive designated alerts and make mobile payments to entities other than the offering financial institution.    

Jack Henry & Associates also recently announced the addition of several high-demand enhancements to goDough including the ability to initiate SMS text-based balance and history inquiries, the availability of an iPhone application that financial institution customers can download directly from the Apple Store, the ability for financial institutions to provide a bank-branded smart phone application, and enhanced reporting designed to accurately and efficiently analyze mobile banking usage.  

Pete Hopkins, general manager of Internet Solutions for Jack Henry & Associates, said, "Nearly half of all mobile phone owners now have access to mobile banking and more and more of them are moving from Internet banking to mobile banking. We believe goDough is the most widely adopted mobile banking solution offered by any core provider and as mobile banking continues to evolve into a key service financial institutions must have to attract and retain technology-savvy consumers, we expect goDough will continue to generate strong adoption rates among our financial institution clients and their customers. goDough is extremely easy for financial institutions to implement, provides contemporary and advancing functionality, and is intuitive and easy-to-use."

Ohio Valley Bank recently announced the launch of its mobile banking application for the iPhone which is available for free download at the App Store.  According to Thomas E. Wiseman, the bank's president and chief operating officer, "In July 2008, we established CellTeller, our mobile banking solution based on Jack Henry Banking's goDough solution. We have now moved beyond our initial mobile offering to extend this special service to our iPhone customers. We have a long-standing tradition of actively seeking new technology. In fact, 30 years ago, Ohio Valley Bank installed Gallia County's very first ATM."  Wiseman also noted a growing trend in the number of Ohio Valley Bank customers with iPhones and in the number of Ohio Valley Bank Internet banking and mobile banking users.

According to Tony Wormington, president of Jack Henry & Associates, "Mobile banking is a natural extension of financial institutions' Internet and retail strategies, and an essential component of the emerging electronic wallet.  Implementation of our goDough mobile banking solution nearly doubled during the past 12 months and is now supporting more than 63,000 people with anytime, anywhere banking that enables them to stay even more connected to their finances and their financial institutions. It enhances customer convenience, self-sufficiency, and service.  It can help financial institutions attract and retain technology-focused consumers.  And it can strengthen financial institutions' positioning in today's highly competitive financial services marketplace."  

goDough is fully integrated with the three functionally distinct core banking systems – SilverLake System®, CIF 20/20®, and Core Director® – provided by the company's Jack Henry Banking™ division, and the industry-leading core platform for credit unions – Episys® – which is provided by Symitar™.

About Ohio Valley Bank

Ohio Valley Banc Corp. owns and operates Ohio Valley Bank, with 16 offices in Ohio and West Virginia, and Loan Central, with six offices in Ohio. Ohio Valley Banc Corp. stock is traded on the NASDAQ Stock Market under the symbol OVBC. For more information, visit the company's Web site at www.ovbc.com.  For more information about Ohio Valley Bank's iPhone application, visit www.ovbc.com/go/iphone or http://itunes.com/apps/ohiovalleybank.

About Jack Henry & Associates, Inc.

Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations.  Its technology solutions serve more than 11,800 customers nationwide, and are marketed and supported through three primary brands.  Jack Henry Bankingsupports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions.  Symitar is the leading provider of information and transaction processing solutions for credit unions of all sizes.  ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs.  Additional information is available at www.jackhenry.com.

Statements made in this news release that are not historical facts are forward-looking information.  Actual results may differ materially from those projected in any forward-looking information.  Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information.  Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements.  Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.

SOURCE Jack Henry & Associates

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