BB&T will speed up its loan
approval turn-around time by delivering loan documentation
immediately to its clients and allowing them to sign the forms
electronically, thanks to a deal it has inked with Fiserv.
According to the bank, the product will drive cost savings and
increase customer satisfaction – and mean less
paper.

Banking technology solutions provider
Fiserv has said that BB&T, the 11th largest US bank by assets
(and one of the better retail performers in
2008 – see RBI 606), is to deploy its Secure Lending
platform. The product enables electronic delivery of initial
disclosures and other loan documentation, with an electronic
signature option, to retail borrowers.

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According to the vendor, implementation of the
software will help the bank manage workflow with compliance best
practice by tracking and retaining all loan documentation.“Secure
Lending platform is used by more than 40 lenders and thousands of
appraisers and closing agents to exchange information securely,” a
spokeswoman for Fiserv told RBI.

Matt White, senior vice-president and mortgage
technology manager at BB&T, said: “In addition to lessening our
environmental impact by replacing paper-based methods with
electronic procedures, we expect to see cost savings and increased
customer satisfaction from borrowers using this quick and
convenient process.”

Banks around the world are increasingly
looking at ways to integrate and exploit electronic signatures
(eSignatures) into their retail banking sales and service – as
evidenced by this Fiserv/BB&T deal.

The deal augments Fiserv’s existing tie-up
with BB&T, which has rolled out the vendor’s Branch Source
Capture (remote deposit capture product) at around 330 of its 1,500
branches. The bank also selected Fiserv’s Personix Card Services
which provides outsourced personalised card solutions, card
manufacturing, and mailing services to its customers under a
four-year agreement.

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Fiserv celebrates 25th year in
2009

Ranked number one in the most recent
FinTech 100 survey of top technology partners to the global
financial services industry (see RBI
603), US-based Fiserv celebrates its 25th year in 2009. At
the end of February, it unveiled a new brand identity, designed to
signify, in its own words, “energy, progressive thinking and a
fresh approach to opportunities that lie ahead”.

The brand make-over coincided with the launch
of a major marketing campaign with new ads appearing in national
business, banking trades and local titles.

Fiserv’s net income grew 29.6 percent in 2008
to $569 million, and the company is forecasting that its
2009 adjusted earnings per share to increase
10 to 14 percent.

Electronic bill payment has become a key
business line for the group, aided by its December 2007 acquisition
of CheckFree Corporation. Fiserv said it signed 128 clients for its
electronic bill payment services in the fourth quarter of 2008,
making a total of more than 550 clients signed across the year.

The spokesperson told RBI: “Fiserv is
focusing on its internet-based technologies such as Secure Lending,
and will continue to focus on supporting the global movement toward
using electronic records and signatures. Electronic records and
electronic signatures across all applicable business processes is a
key strategy for our clients.”

IT Contracts

RBI Fintech DealWatch
tracks recent major technology contract wins with a focus on the
retail financial services industry as well as fintech mergers and
acquisitions and innovative new product launches

Country

Participants

Type/value

Details

Date announced

US

Wells Fargo, First Data

Merchant alliance joint venture

First Data has extended its merchant alliance
joint venture with Wells Fargo for five years. As part of the deal,
First Data has sold 12.5 percent of the membership interests in the
Wells Fargo Merchant Services venture to the bank for an
undisclosed cash consideration. Wells now owns 60 percent of the
company, with First Data holding 40 percent.

25 Mar

Spain, UK

Santander, Accenture

Integration project

Spain’s Santander has inked a two-year, €100
million deal with technology consultancy Accenture to integrate the
various IT systems recently inherited through a spate of
acquisitions in the UK.

25 Mar

US, Global

Nokia, Obopay

Stake investment

California-based m-payments outfit Obopay has
received a major investment from mobile phone giant Nokia, which it
will use to move into new markets, believed to be around $70
million. Teppo Paavola, head of corporate business development at
Nokia has also joined the Obopay board of directors.

25 Mar

South Korea

Shinhan, Hewlett Packard

IT sale and leaseback

Hewlett Packard has signed a $50 million
technology contract with South Korea’s Shinhan that will involve
the sale and leaseback of the bank’s IT assets, financed by the
HP’s own Financial Services unit.

24 Mar

Canada

BMO Bank of Montreal, Unisys

Hardware contract win

BMO Bank of Montreal has awarded Unisys a
four-year contract to supply mainframe-class server systems and
related support services.

24 Mar

UK

VocaLink, Payzone

Contract extension

ATM operator Payzone has extended its
contract with payment transaction vendor VocaLink until the end of
2012. VocaLink supplies ATM services for Payzone’s network of 4,000
ATMs.

24 Mar

Middle East

Lloyds Banking Group, Network
International

Card processing joint venture

Lloyds TSB Middle East, a unit of Lloyds
Banking Group, is to use Network International of the United Arab
Emirates to provide its card processing services. Network
International, the UAE’s largest third-party processing vendor,
will provide Lloyds TSB Middle East with smart chip-certified
solutions.

23 Mar

UK

Lloyds Banking Group, KXEN

Contract win

The UK’s largest retail bank, Lloyds Banking
Group, is to deploy data mining automation technology from US-based
vendor KXEN to improve its internal analytics, following a
successful six month trial.

19 Mar

Thailand

Siam Commercial Bank, Alcatel-Lucent

Call centre contract win

Thailand’s largest bank by branches, Siam
Commercial Bank, has selected French-based Alcatel-Lucent to
design, integrate and implement the vendor’s call centre
platform.

18 Mar

US

IBM, Sun Microsystems

Possible acquisition

IBM is said to be in advanced talks to
acquire rival Sun Microsystems for around $6.5 billion, in a deal
that could mark the start of wider consolidation in the global
technology industry.

18 Mar

UK

Monitise, Carphone Warehouse

Retail alliance

UK m-banking vendor Monitise has teamed up
with the UK’s largest mobile phone retailer, The Carphone
Warehouse, in a deal to “pre-seed” mobile money and banking
software on new mobile handsets. Monitise clients include HSBC,
Lloyds, first direct, Alliance & Leicester and RBS/NatWest. The
pre-installed software will enable phone users to check balances,
view recent transactions and transfer money through their
handsets.

18 Mar

UK

ID Data

Acquisition

UK smart card systems supplier ID Data has
been rescued from administration by Card Data Management, a special
investment vehicle set up by the vendor’s founder Peter Cox, with
backing from an unnamed Singapore-based investment fund.

18 Mar

Pakistan

National Bank of Pakistan, Fidelity National
Information Services

Core processing contract win

Pakistan’s largest bank, National Bank of
Pakistan (NBP), is to implement Fidelity National Information
Services’ FIS Profile core banking system. Profile’s integrated
architecture, which contains all of a bank’s customer data and
deposit and loan accounts, will initially be installed in 250 NBP
branches.

18 Mar

India

State Bank of India, 3i Infotech

Security contract win

State Bank of India has said it has partnered
with India’s 3i Infotech to implement the vendor’s anti money
laundering software, AMLOCK. The software will be deployed across
the whole State Bank Group.

18 Mar

Belgium

Tunz, Belgacom

Stake acquisition

Belgian telecom Belgacom has taken a 40
percent stake in Tunz, a mobile payments vendor. Tunz offers an
open payment platform featuring a wide range of mobile payment
applications such as contactless payments, person-to-person
payments, web-payments, loyalty and mobile ticketing.

18 Mar

India

SBI Cards, Arcot Systems

Security contract win

US-based Arcot Systems is to supply State
Bank of India’s card unit – SBI Cards – with the vendor’s e-payment
authentication solution to provide secure online shopping for its
cardholders. Future security enhancements may include the
introduction of Arcot’s two-factor authentication solution.

16 Mar

Spain

John Ryan, Caja Mediterráneo

Branch-based marketing contract

Retail marketing agency John Ryan has
installed a three-channel digital signage network in 500 branches
of Alicante-headquartered savings bank Caja Mediterráneo. Placed in
high-traffic areas of the branch and branch exterior, the screens
display an array of promotional and informational messages in eight
languages.

16 Mar

France

S2P, Oberthur

Contactless payments contract win

French data security firm Oberthur is to
supply S2P, the banking subsidiary of hypermarket chain Carrefour,
with contactless payment cards. The Chrysalis Fly dual interface
payment card will be used by S2P as part of its ‘Universal Payment
Card’ project, the first of its kind in France and one of the
largest contactless projects in Europe.

16 Mar

Paraguay

HSBC, Vasco

Security contract win

HSBC Paraguay has rolled out authentication
software from security vendor Vasco Data Security International for
its retail and corporate customers. According to the bank, it is
the first bank in the country to offer its online customers
two-factor authentication.

16 Mar

Germany

Deutsche Bank, Luup

Mobile payments contract win

Deutsche Bank has partnered with Norway-based
payments processor Luup to offer a cross border mobile payments
service to its banking and corporate customers.

12 Mar

US

BB&T, Fiserv

Security contract win

BB&T is to deploy Fiserv’s Secure Lending
solution (see story above).

12 Mar

South Korea

Woori Bank, Norkom

Security contract win

South Korea’s Woori Bank is to deploy
anti-money laundering technology from Ireland-based tech outfit
Norkom to help it comply with recently introduced anti-money
laundering regulations. Norkom said its system would enable the
bank to monitor and analyse transactions and customer interactions
across its entire customer base to identify and investigate
suspicious and criminal behaviour.

11 Mar

Turkey

Fortis Turkey, GoldenGate

Data integration contract win

Data integration provider GoldenGate Software
is to supply real-time data integration solutions to Fortis’
Turkish unit.

9 Mar

Australia

Commonwealth Bank of Australia, Clear2Pay

Payment solutions contract win

Commonwealth Bank of Australia has awarded a
payments contract to Clear2Pay with the aim of consolidating its
payment processing into one central technology. The deal embraces
both retail and wholesale payments with the initial focus on online
card related transactions.

3 Mar

UK

Aviva, EDS

Date centre management contract win

Hewlett Packard’s EDS subsidiary has won a
ten-year, £700 million contract with UK insurer Aviva for the
management of two UK-based data centres. Around 300 Aviva staff
will move to EDS, which will provide the insurer with data centre
modernisation as well as mainframe and server management.

3 Mar

Honduras

Banco Ficohsa, Temenos

Core banking contract win

Swiss-headquartered vendor Temenos is to
supply its T24 core banking software to Honduran-based Banco
Ficohsa to support its retail and corporate banking operations,
servicing 650,000 accounts across 88 branches in Honduras and the
US.

25 Feb

Spain

Caja de Extremadura, Vasco

Online security contract win

Spanish regional savings bank Caja de
Extremadura is to distribute EMV certified card readers from
e-security vendor Vasco to its retail customers. Customers of the
bank’s online arm, Servicash, have been provided with Vasco’s card
reader, which generates a one-time password when a PIN is
entered.

25 Feb

Cambodia

Advanced Bank of Asia, Oracle

Core banking contract win

Cambodia’s Advanced Bank of Asia Cambodia has
gone live with Oracle’s Flexcube core banking software.

24 Feb

Qatar

International Bank of Qatar, Misys

Training software contract win

International Bank of Qatar is to deploy
UK-headquartered Misys’ Learning Suite, an e-learning and training
software programme, to improve staff training and education.

23 Feb

Sweden

SEB, Equens

Outsourcing contract win

Sweden’s SEB is to outsource processing of
SEPA direct debit transactions to Netherlands-headquartered payment
processor Equens from November.

19 Feb

Source: RBI