Headlines:
Commerce of N.J. Updates Capture Service Tex. Regional to Use Fiserv Unit's System Va. Educator Credit Union Picks Comodo Carreker-Majesco Venture Names Chairman
Commerce of N.J. Updates Capture Service
Commerce Bancorp Inc. of Cherry Hill, N.J., plans to offer a customized remote check capture service to its small-business and middle-market customers that use Intuit Inc.'s QuickBooks accounting software.
Michael K. Jewart, the director of product management in Commerce Bank's cash management unit, said he expected to begin a pilot test in September or October with a small group of customers and then move quickly into broader deployment.
Commerce has offered its RapidDeposit remote capture service since August 2004, in conjunction with BServ Inc., the San Francisco vendor that does business as BankServ. The new version will have a QuickBooks interface. When users convert checks into images and transmit them to a bank for deposit, the software will also automatically match payments to invoices and keep users' books balanced.
BServ said last month that PNC Bank had begun a pilot test of the QuickBooks interface, which the vendor calls Deposit Now A/R.
David F. Kvederis, BServ's president and chief executive, said it plans to offer the QuickBooks interface for general availability next month, followed by an interface for Microsoft Corp.'s Small Business Accounting software in October and for Sage Software SB Inc.'s Peachtree Accounting software in November.
Tex. Regional to Use Fiserv Unit's System
Texas Regional Bancshares Inc. of McAllen has agreed to license the iLink treasury management system from BankLink, a New York unit of Fiserv Inc.
Belinda-Leigh Hall, an executive vice president at the $6.8 billion-asset parent of Texas State Bank, said in a BankLink press release that her company considered several vendors' offerings before choosing iLink "to meet the sophisticated needs of our most significant commercial customers."
The iLink system would tightly integrate itself to the bank's core banking system, from Fiserv's Information Technology Inc., she said.
BankLink said its Web-based system could be integrated with any bank back-office system and customized to allow any financial institution to serve big or small commercial customers.
Va. Educator Credit Union Picks Comodo
Apple Federal Credit Union plans to use software from Comodo Group Inc. to protect its online banking users from phishers.
The product from Comodo, of Jersey City, outlines the browser with a green border when the user scrolls over the Web site's login field. This is meant to assure members that they are at the credit union Web site and not a phisher's spoof site.
Apple, a Fairfax, Va., credit union for educators, also plans to use Comodo's e-mail and Web certificates to verify the authenticity of its online communications, and another Comodo product to detect hacking attempts against its servers.
Juan Batista, Apple's vice president of information technology, said in a Comodo press release, "In today's digital world, online fraud is dampening our members' adoption of online financial services. This solves our customers' issues while providing us with a solution that can be deployed quickly and for less than we thought possible."
Carreker-Majesco Venture Names Chairman
Carreker Corp. announced Tuesday that Webb Edwards, a former president of Wells Fargo Services Co., has been elected chairman of Carretek LLC, the Dallas software company's offshore processing joint venture.
Carretek's other owner is the Majesco Software Inc. unit of the Indian outsourcer Mastek Ltd. Carretek's centers in Mumbai and Pune, India, handle back-office functions for banks, including adjustments, exceptions, lockbox, and proof of deposit.
Mr. Edwards retired in 2005 from Wells Fargo Services, the technology and operations unit of the San Francisco banking company Wells Fargo & Co. He served six months as a director of Carreker's board, stepping down in June when the company gave a board seat to Bryant R. Riley, the founder and chairman of the hedge fund Riley Investment Management LLC.
Mr. Riley, who owns 9.8% of Carreker's shares, had threatened a board fight unless the company took steps to raise the value of its stock.
Carreker announced in June that it had hired Bear, Stearns & Co. to help it review its alternatives.
