Headlines:
U.S. Bancorp to Use Fair Isaac Software CFO Leaves Diebold for Software Firm Bisys, Digital Insight Expand Relationship MetLife Bank Unit Extends FIS Contract
U.S. Bancorp to Use Fair Isaac Software
U.S. Bancorp of Minneapolis announced Monday that it will use Fair Isaac Corp.'s credit line management software in its risk management system.
The software, Strategy Science for Credit Line Management, evaluates consumer accounts for decisions such as whether to authorize a higher credit limit.
It will add "highly sophisticated analytics to our existing portfolio and develop alternatives to our present approach to risk," said Bill Mengershausen, a senior vice president and the manager of risk/reward management at U.S. Bancorp, in Fair Isaac's press release.
The vendor also recently announced new software - Intelligent Data Manager, which produces data that lenders can use as input for its own and others' models to assess the credit risk of people opening accounts.
Intelligent Data Manager provides "seamless connectivity to all three consumer [credit] bureaus - TransUnion, Equifax, and Experian - as well as the small-business bureaus," said Roger Ahern, Fair Isaac's vice president of enterprise origination solutions.
To assess the credit risk of people with little credit history, the software also connects to Fair Isaac Credit Services Inc., which holds data that may not be available through the credit bureaus, Mr. Ahern said.
The software, part of the Capstone origination suite, was announced Aug. 1. Mr. Ahern said one company, a nonbank that lends to consumers and small businesses, has already agreed to use it. He refused to name the company but said the software will be used in a project to be completed in six to eight months.
CFO Leaves Diebold for Software Firm
Diebold Inc. of North Canton, Ohio, the big automated teller machine manufacturer, said Monday that its chief financial officer, Gregory T. Geswein, had resigned.
Mr. Geswein, who was also a senior vice president, will become the CFO of Reynolds & Reynolds Co., which provides management software for automobile dealerships.
Diebold's corporate controller, Kevin J. Krakora, a vice president, will fill in for Mr. Geswein until a successor is appointed. The company said it would look among its employees and elsewhere.
On Thursday the company announced a second-quarter dividend of 20.5 cents per share - the same as for the first quarter but up from 18.5 cents a year earlier - and a new stock buyback program.
It said the board had authorized a plan to repurchase up to 2 million shares of stock. "We believe this new authorization represents a strong vote of confidence in our ability to continue generating superior results," chief executive Walden W. O'Dell said in a press release.
The company has repurchased 1.6 million shares, including 1.4 million this year, under a 2 million share program initiated in June 2004. There are 70.5 million shares outstanding.
Diebold stock, which reached a 52-week high of $57.81 in April, was trading at $48.43 at midafternoon Monday, down 2.34% from Friday's close.
Bisys, Digital Insight Expand Relationship
Bisys Group Inc., a provider of outsourced core processing to banks, is now offering them more Digital Insight Corp. services.
Under a deal announced Friday, Bisys is offering Digital Insight's DeskTopLender Premium loan origination system as well as its corporate banking modules for, among other things, online cash management, electronic report delivery, foreign exchange trade, and transaction initiation.
Bisys had already been offering Digital Insight's outsourced online banking service for consumers and small businesses since 1998 and its online lending service since 2002.
Digital Insight is based in Calabasas, Calif. Bisys is based in New York.
MetLife Bank Unit Extends FIS Contract
MetLife Bank has signed a multiyear renewal of a contract to use Fidelity Information Services Inc. software and services.
The vendor, which is mostly owned by Fidelity National Financial Inc. of Jacksonville, Fla., did not disclose the length of the contract, which it announced Aug. 4.
The bank, a unit of the New York insurer MetLife Inc., has $4.1 billion in assets.
