Headlines:
Survey Finds ID Theft Worries Rising Corillian Says It Will Acquire a Provider Great Florida to Use Metavante Software Pelican Using Imaging Tool from Harland
Survey Finds ID Theft Worries Rising
One in five Americans has been a victim of identity theft, according to a survey released Thursday.
The survey of 1,850 people, sponsored by the Warren, N.J., insurance company Chubb Corp. and conducted in May by Impulse Research Corp. of Los Angeles, also found that awareness of the issue is increasing; 95% of people said they are concerned a criminal might impersonate them, up from 20% who expressed that fear in 2000.
Consumers are also demanding accountability from companies that fail to protect confidential data, according to the survey.
Eighty-seven percent of the respondents said companies that have not adequately protected this information should pay to help people restore their credit ratings; 65% said these companies should be fined; and 63% said the companies should face criminal charges.
However, individuals continue to divulge their own confidential data. The survey found that people routinely reveal their Social Security numbers when applying for credit or establishing accounts with telephone carriers.
People need to be more careful about revealing their personal information, "whether online, over the phone, or in person," said Dan McCabe, the marketing manager for Chubb's personal insurance unit.
Corillian Says It Will Acquire a Provider
The Portland, Ore., online banking technology vendor Corillian Corp. plans to buy one of its providers for $5.5 million.
Corillian said Wednesday in a filing with the Securities and Exchange Commission that it had executed a letter of intent to acquire an unnamed company that provides it with products and services.
Forty percent of the purchase would be paid with Corillian's stock, and the rest would be paid in cash, according to the filing.
In April, Corillian announced it would acquire the online banking software vendor InteliData Technologies Corp., for $20 million.
Great Florida to Use Metavante Software
Great Florida Bank of Orlando has agreed to use banking software from two units of Metavante Corp., the technology subsidiary of Marshall & Ilsley Corp. of Milwaukee.
On Thursday, Metavante said the $500 million-asset community bank will implement several regulatory compliance applications from Prime Associates Inc., of Clark, N.J., and the Kirchman Bankway core processing software from Kirchman Corp. of Orlando.
Metavante bought Prime Associates in February and Kirchman in May 2004.
Prime Associates' Compliance Manager has several modules that banks can purchase. Metavante said that Great Florida will use the BSA Reporter module to prevent laundering and the EDD Reporter and OFAC Reporter modules for doing background checks on customers.
Salvatore Cangialosi, the president of Prime Associates, said in a press release, "Our main focus is to reduce the burden on financial institutions today by helping our clients deal with seen and unforeseen risks."
Pelican Using Imaging Tool from Harland
Pelican National Bank of Naples, Fla., is using software from Harland Financial Solutions Inc. of Atlanta to transmit digital check image files.
Harland Financial Solutions, a subsidiary of the check printer John H. Harland Co., said last week that Pelican has already settled its first check electronically using the Harland Intrieve Item Processing Solution, and that eight other banks are planning to do so in the next few months.
Jeff Jacques, a vice president for business development at the Harland unit, said Tuesday that Pelican sends the images to a Harland data center in Orlando, where the data is bundled with other banks' files and forwarded to a center run by NetDeposit Inc., the technology subsidiary of Zions Bancorp.
NetDeposit forwards the images to one of several image exchange networks for settlement; the choice depends on the paying banks' capabilities.
"Wherever the check is drawn, ultimately it will get to the bank in electronic fashion," Mr. Jacques said.
