Partnership Focuses On LoyaltyMINNEAPOLIS-Automotive retailer OpenRoad Auto Group, based in Vancouver, B.C., has hired re:member group to create a multi-tiered loyalty program for OpenRoad's nine-dealership auto group, named "Club OpenRoad."For info: www.remembergroup.comEllie Mae Enhances Encompass360PLEASANTON, Calif.-Ellie Mae said it upgraded its Encompass360 mortgage management solution to include new functionality and enhancements designed to further increase compliance, efficiency and ease of use. It also introduced Encompass Originator, an integrated front-end technology solution specifically for users of DataTrac mortgage software.For info: www.elliemae.comFPCU Taps Dwolla For FundraiserDES MOINES, Iowa-Financial Plus Credit Union (FPCU), here, the first financial institution to use online and mobile cash platform Dwolla for charitable donations, made a year-end effort to raise an additional $1,000 for Children's Miracle Network and believes adding Dwolla to the effort will reach the online community.For info: www.dwolla.comFrost Financial Adds CU ClientCINCINNATI-Frost Financial Services, Inc., a provider of GAP programs and menu-selling technology, said it recently inked DHCU Community CU, Moline, Ill., and added more than 90 new clients in 2011, giving it more than 1,000 CU clients nationwide.For info: www.frostinsurance.comOffers Made Easy UnveiledSAN FRANCISCO-Better Branches LLC, a technology provider specializing in front- and back-office workflow solutions, has released Offers Made Easy, which the company described as a cross-selling solution that equips front-line staff to make offers to clients, record the outcome, and provide reporting to management in real time.For info: www.betterbranches.comCU Re-Ups Contract With CUMM DALLAS-Tallahassee FCU has renewed its mortgage lending services with CU Members Mortgage, the company said.For info: www.cumembers.comCO-OP Announces Partnership In Wis.RANCHO CUCAMONGA, Calif.-CO-OP Financial Services said it has partnered with W.C.U.L. Services Corp. and Wisconsin CU Shared Service Centers, Inc., to market CO-OP Network and Payment Processing services. WCUL of Pewaukee, Wis., and WCUSSC of Greenfield, Wis., will market CO-OP products to more than 210 Wisconsin-based credit unions, . WCUSSC already offers CO-OP Shared Branching, CO-OP Member Center and CO-OP E-Commerce Solutions. With the new agreement, WCUL and WCUSSC will also promote CO-OP Network and CO-OP Payment Processing services.For info: www.co-opfs.orgIndirect Lending Services Has New NameN. CHARLESTON, S.C.- Indirect Lending Services, LLC is now Indirect Lending Solutions, LLC, due to a "significant expansion of credit union service organizations" under the South Carolina Financial Solutions, LLC umbrella, including solutions for insurance, compliance, data and other services, the company said.For info: www.indirectlendingllc.comDATAMATX Achieves Compliance ATLANTA-DATAMATX, a provider of printed and electronic billing solutions, said it has received an "Attestation of Compliance" for the Payment Card Industry Data Security Standard 2.0 (PCI DSS) from the PCI Security Standards Council LLC.For info: www.datamatx.comTCI Sells Some Divisions HAUPPAUGE, N.Y.-TCI recently sold five of its products to SS&C Technologies Holdings to concentrate on its loan origination solution-DecisionLender-which generated the majority of its revenue in 2011, the company said. SS&C, a provider of financial services software and software-enabled services, added AddressScreener, CreditScreener, My Credit Screener, Tenant/Employment Screener and FraudScreener to its existing services.For info: www.ssctech.com or www.tcidecisionlender.comDataVerify, Prime Alliance PartnerCOLUMBUS, Ohio-DataVerify, a provider of fraud and risk management solutions, and Prime Alliance Solutions, Inc., provider of mortgage lending solutions, have partnered to offer DataVerify's enterprise-wide risk mitigation DRIVE platform. The companies said client credit unions will have access to products such as 4506T and SSA verifications, as well as DataVerify's identity, application, and property verification services.For info: www.dataverify.com or www.primealliancesolutions.comPartnership on Social MediaHERNDON, Va.-SocialLogix Inc., a provider of social media risk and compliance solutions, and DigitalMailer, provider of digital communications, have formed a reseller agreement where DigitalMailer will be the exclusive partner for the delivery of SocialSentry to the credit union and mid-sized banking markets.For info: www.digitalmailer.com or www.sociallogix.com.4G Enabled ATM DebutsNORTH CANTON, Ohio-In collaboration with Verizon, Diebold has introduced an ATM that is 4G enabled. The technology adds a communication channel to and from the ATM, meaning that in addition to the financial institution or transaction processor being able to communicate with the machine, third parties such as service providers or monitoring centers will also be able to do so. The company said the faster, secure channel will improve monitoring and diagnostics. The 4G LTE connection also means financial institutions have the bandwidth to connect wirelessly with ATMs located off premises. The new machine was introduced in Verizon's booth at the Intenrational Consumer Electronics Show in Las Vegas this week.
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Amerant Bancorp in Coral Gables, Florida, appointed Carlos Iafigliola its permanent president and CEO; Morton Community Bank in Illinois reached a deal to buy a three-branch franchise in the Land of Lincoln; Bank First in Manitowoc, Wisconsin, agreed to acquire PSB Holdings; and more in this week's banking news roundup.
May 22 -
President Donald Trump administered Federal Reserve Chair Kevin Warsh's oath of office in a ceremony Friday morning. Warsh is expected to pursue changes at the central bank, including a push to reduce its $6.7 billion balance sheet.
May 22 -
Federal Reserve Gov. Christopher Waller said in a speech Friday that he favors holding interest rates steady until energy prices fall, but noted that the central bank should be ready to hike rates if inflation gets too far out of hand.
May 22 -
Cetin Duransoy said every employee at his company is now using AI in some way.
May 22 -
Many banks are missing revenue and cost-cutting opportunities—and potentially disenfranchising customers by not offering relevant app details.
May 22 -
Lenders pulled back on commercial real estate loans in 2023, as high interest rates put pressure on property values. They're now returning to the sector, and the renewed competition is prompting a pricing war.
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