Texas Capital's Web-Only Bank Teams Up with American Airlines
DALLAS - Customers of BankDirect, the Internet-only division of Texas Capital Bank, soon will be able to earn airline miles while banking online, through a joint venture between the bank and American Airlines' AAdvantage program.Beginning May 1, AAdvantage members will be able to accrue miles for using a variety of BankDirect services. For example, they could get 1,000 AAdvantage miles when opening a new checking or money market account, 2,000 for using the bank's bill-pay services for a full year, and 1,000 for signing up for payroll direct deposits.
The AAdvantage program has more than 39 million members.
Software Firm Global Commerce Raises $63M of Venture Capital
BROOMFIELD, Colo. - Global Commerce Systems Inc., which sells business-to-business electronic commerce software to banks, has raised $63 million of venture capital.The company's latest investors are Red Coat Capital Management, LLC, J&W Seligman & Co., Blair Asset Management LP, and Blue Ridge Capital, LLC. They join Global Commerce Systems' original investment group of GE Capital Financial, GE Equity, and First Analysis Corp., which injected $13.5 million into the company last year.
The investment will help Global Commerce expand internationally, said Geoffrey Shaw, chairman, chief executive officer, and co-founder.
The six-year-old company develops systems that let banks develop and manage commerce services online. Corporate customers use these services for commercial trade. Three hundred banks and corporations use Global Commerce's software, including Wells Fargo & Co., UMB Financial Corp., and Total System Services Inc.
CyberBills Boosts Distribution Through Installation of BillCast
SANTA CLARA, Calif. - CyberBills Inc. said it has installed Just In Time Inc.'s BillCast software.BillCast, which is based on the Open Financial Exchange standard, is designed to let billers personalize their customers' bills and statements. The deal with San Francisco-based Just In Time enables CyberBills to distribute bills through standards-based consumer Web sites as well as the sites of such channel partners as Intuit Inc. CyberBills lets people see all their bills and initiate automatic payments by computer.
