Headlines:
Primedia Sells Bank Training Unit to BAI Chase Buys Vastera Foreign Trade Firm CheckFree Powers Italian EBPP Service
Primedia Sells Bank Training Unit to BAI
The Bank Administration Institute of Chicago has bought the St. Louis-based Bankers Training and Consulting Co. from Primedia Inc. of New York.
The price was not revealed.
Bankers Training offers courses in compliance, lending, security, fraud, and branch operations. The BAI, which focuses on operational issues, said the acquisition will broaden its training capabilities. The 33-person unit is to remain in St. Louis.
Primedia, a publisher of specialty magazines and newsletters, said in September that it was considering selling its workplace learning unit, of which Bankers Training was a part.
The sale was announced Thursday - the same day the financial technology outsourcer Bisys Group Inc. of New York said it was in talks to sell its education unit. That unit provides continuing education and licensing preparation courses for financial services employees and sells software to automate licensing and registration processes for insurance and investment companies.
Chase Buys Vastera Foreign Trade Firm
The trade management firm Vastera Inc. is now JPMorgan Chase Vastera.
JPMorgan Chase & Co. announced Friday that it had bought the Dulles, Va., firm, which provides online software and services for customs, compliance, risk, and tracking the movement of goods. The $129 million deal was announced in January.
The New York banking company formed a marketing alliance with Vastera in June 2003 to integrate its own trade finance offerings with Vastera's logistics services for exporters and importers. JPMorgan Chase is the largest issuer of letters of credit and a major provider of cash management services to corporate customers.
CheckFree Powers Italian EBPP Service
Itacable SpA of Milan has gone live with Italy's first business-to-business electronic invoicing and payment service system, ItaLock, using CheckFree Corp.'s i-Series invoicing software.
Itacable offers electronic payment processing, data management, and direct marketing services to companies including Barclays Bank, the cell-phone maker Nokia, and Alliance Insurance.
The Italian electronic-commerce company said it plans to promote the service to telecommunications, utilities, financial services, manufacturing, transportation, and publishing companies.
CheckFree, of Atlanta, is the largest U.S. provider of electronic bill payment and presentment services. It also sells software to billers and service providers.
