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Fidelity National Unit May Acquire Vendor B of A Starts Rollout for Security Feature Golden One Using CheckFree Software
Fidelity National Unit May Acquire Vendor
The core and item processing provider Fidelity Information Services Inc. has started offering a remote capture imaging service, and is mulling the acquisition of the company that provided the underlying technology.
Banks can offer the service to corporate customers that want to convert checks into digital images and then deposit them by transmitting them to the bank, Fidelity Information Services, which is majority owned by Fidelity National Financial Inc. of Jacksonville, Fla., said Tuesday.
John. R. Heus, a business development manager with Fidelity Information's Integrated Financial Solutions unit, said it is offering the service under an "exclusive marketing agreement" with an image-processing technology company, which he would not name. He said his company might acquire that vendor, which is also providing the service to a financial services company.
Small banks are eager to provide remote capture to their commercial depositors, in part because many large banks already offer the service and are using it to try to poach customers, Mr. Heus said.
The new service lets banks turn consumer checks into automated clearing house payments using the accounts receivable conversion format, he said. It also tracks items by their method of clearing - such as image replacement document, image exchange, or ACH - and can automatically choose the best collection method.
Fidelity Information Services provides core processing services to nearly 2,800 companies and item processing services to more than 1,100.
B of A Starts Rollout for Security Feature
Bank of America Corp. of Charlotte said its online customers in Tennessee are now being offered an enhanced log-on security feature.
On Tuesday, B of A said it will roll out the SiteKey feature across the country. The introduction in Tennessee was the first phase of the rollout.
Customers enroll by selecting an image and phrase that are later displayed on the bank's site whenever the customer logs on. The image and phrase demonstrate to the customer that the site is legitimate.
SiteKey, a rebranded version of software developed by PassMark Security Inc. of Redwood City, Calif., will also keep track of the computers used to access B of A's Web site, to verify the users' identities. "SiteKey helps you know it's us, and we know it's you," Sanjay Gupta, B of A's e-commerce executive, said in a press release. His company, which has 13.2 online banking customers, announced last month that it was using the PassMark software.
Golden One Using CheckFree Software
The Golden 1 Credit Union of Sacramento is using software from the online bill payment technology and services vendor CheckFree Corp. of Norcross, Ga., to offer faster bill payments through its Web site.
The vendor announced Monday that Golden 1 has started using the newest version of its CheckFree Web software, which enables it to offer better bill management, faster settlement, and payment alerts. Golden 1 is the fourth-largest credit union in the country.
CheckFree's payment software enables banks to settle many consumer bill payments the day they are initiated or the next day.
