Headlines:
LaSalle Sending Images to Fed Banks Gomez Hires Former S1 Chief Executive Texans CU Switching to Corillian Software
LaSalle Sending Images to Fed Banks
LaSalle Bank Corp. of Chicago, a subsidiary of ABN Amro Holding NV, has begun transmitting check images to the Federal Reserve banks.
LaSalle said Monday that it was using The Clearing House Payment Co. LLC's image exchange network, operated by its SVPCO unit, to deliver image cash letters to the Fed.
The Fed accepts the electronic files through its FedForward service and forwards them to receiving banks. If a bank cannot accept check images, the Fed sends the files to a nearby processing site and prints them out there as image replacement documents, which it delivers to the bank.
LaSalle said sending check images is faster and cheaper than transporting checks. "Our participation in check image exchange demonstrates LaSalle Bank's commitment to being not only a participant but a leader in the evolution of the U.S. payments industry," said Cindy Murray, an executive vice president and the head of LaSalle Bank's treasury management group, in a press release.
Gomez Hires Former S1 Chief Executive
Gomez Inc. of Lexington, Mass., the Internet performance analysis company, has hired as its chief executive Jaime Ellertson, the ousted CEO of the banking software company S1 Corp.
Richard Brekka, Gomez's chairman, said in a press release that Mr. Ellertson's "strong leadership" and "proven track record with high-growth technology organizations" would help his company.
The hire was announced Monday. Mr. Ellertson will also join Gomez's board.
S1, of Atlanta, ousted him last July. His predecessor, chairman
The ouster was never explained, but one of Mr. Mahan's first actions as CEO was to delay the release of an expected upgrade for S1's Enterprise product line. Mr. Mahan said Mr. Ellertson had been pushing the development team too hard.
Mr. Ellertson joined S1 in 2000. He was the CEO of Interleaf Inc., a Waltham, Mass., publishing software company, from 1996 to 2000, when BroadVision Inc. of Redwood City, Calif., bought it.
Texans CU Switching to Corillian Software
Texans Credit Union of Richardson has agreed to use a quartet of online banking products from Corillian Corp. of Hillsboro, Ore.
By July, it said Thursday, Corillian's consumer and small-business banking software will have replaced software from Fiserv Inc.'s IntegraSys of Frisco, Tex. It will also use Corillian Payments Warehouse for its online bill payment service and Intelligent Authentication, an anti-fraud product.
Intelligent Authentication grants quick site access to users logging in from their regular computers, through their regular Internet service providers, or under other preestablished conditions. Financial institutions can require additional authentication for those seeking access in some other way.
Greg Gallant, the credit union's executive vice president and chief technology officer, said in Corillian's press release that its software provides a "competitive advantage in the online channel."
