Founded as a financial computer-services provider in 1988, ACS for the first few years focused on processing bank transactions, but the collapse of the Texas banking industry eliminated many of its customers.
His big score was Biometrics Imagineering, a firm he started in 1998 that developed document processing machines for bank tellers.
In an asset swap, JPMorgan could take the retail branches and cede some of its securities processing division to Bank of New York.
As a result, every type of company involved with a debit card transaction, from the middle-man payment processing service to the company that owns the processing network to the bank that issues the card stands to have reduced revenue than they would have had otherwise.
Attorney General Eric Schneiderman has notified the national monitoring committee established to enforce the five-bank agreement, citing complaints of 210 prompt-processing violations by Wells Fargo and 129 by Bank of America.
Starting in 1993 they began selling off non-core holdings, including a food processing business, an investment bank and a hotel.
Letting your bank handle credit card processing may seem convenient--but that convenience comes at a price.
The company insists it does not want to move into retail banking, but could save money by processing transactions through a state industrial bank (to be based in Utah).
The investment bank had looked at renting processing cycles from supercomputing centers in Illinois or Minneapolis, but it chose to keep the work in-house.
Surrounded by a bewildering array of credit card processing machines - for some reason each bank issues a different machine - he grins, teeth showing under a fine Turkish moustache.
Ms. MERIDA RHODES: OK. I worked for the Federal Reserve Bank for 22 years in check processing.
Already armed with a small business card from Capital One, she figured why not use the bank's credit card-processing services, too?
JPMorgan, which bought Bank One last year, is already among the biggest in custody and securities processing, but it has been eclipsed in recent years by the aggressive expansion activities of Bank of New York and State Street .
FORBES: JPMorgan's Miller Begins Drive To Consolidate Securities Ops
The SIM-based NFC solution will utilize the US bank's ClickandBuy service for processing and will be available to T-Mobile customers, rolling out to Poland in Q3 of this year and Germany in 2013.
ENGADGET: MasterCard and T-Mobile to bring NFC payments to Europe in Q3 (video)
JPMorgan, which bought Bank One last year, is already among the biggest in custody and securities processing, but it has been eclipsed in recent years by the aggressive expansion activities of Bank of New York (nyse: BK - news - people ) and State Street (nyse: STT - news - people ).
FORBES: JPMorgan's Miller Begins Drive To Consolidate Securities Ops
But what you may not be aware of is that every time you swipe your card, and even when you use your debit card at international ATMs, your bank is likely to add on an international processing fee of 2-3%.
Start-ups and other financial companies can quickly create FDIC-insured bank accounts, move money online and do payment processing using BancBox.
India's central bank instructed the country's lenders to stop processing current-account transactions with Iran using the Asian Clearing Union, and told Indian firms they couldn't use the mechanism to pay for oil or gas imports.
In 2009, Elie retained Ifrah, who was also working for Pokerstars, Full Tilt and a bank in Utah known as Sun First Bank, to obtain information regarding the legalities of processing financial transactions related to online poker, according to the complaint.
FORBES: Jailed Online Poker Payment Processor Sues His Former Lawyer For Malpractice
Bank sorting equipment ejected the demagnified check for slower manual processing, gaining the boys extra days of float.
Mitek's technology increases convenience for the consumer by eliminating the need to go to the bank branch or automated teller machine, and dramatically reduces processing and customer acquisition costs while increasing customer retention.
The single standard allows a bank to monitor its counterparty risks globally, streamlines back office processing and reduces costs in data management.
He said that bank transfers could be made electronically, but there was a backlog in processing them because the banks were shut.
We will be adding to our domestic processing in Italy as we have signed a multi-year agreement with a major bank to convert their debit cards to Maestro-only from a co-brand with a domestic scheme.
FORBES: MasterCard Hits All-Time High Of $364 And Is Up 60% This Year
In addition to security and speed, SWIFT offers a standard interface to reach pretty much any bank in the world with a standard message format to provide completely automated processing of payments, straight-through processing (STP) in industry terminology.
Commercial Lending X has not only relieved banks of much of the loan underwriting and processing (cost-center) burden, they have also found creative ways to increase bank revenues by brokering denied loans to generate referral fees from other lending institutions, by finding participants to help larger loan transactions get done and by bringing banks new customers.
The company is also slowly moving into the business process outsourcing, or BPO space, with a recent deal with ING bank in the U.S. Cognizant will be working with insurance claims processing for ING and hiring 1, 000 ING staffers and make them members of the Cognizant family.
FORBES: Cognizant CEO D'Souza Bullish On Year; Beats Infosys
The case has limited national implications because Massachusetts has an unusual, non-judicial mechanism for processing foreclosures, said Edward Rainen, a lawyer specializing in property law who also argued for the bank attorneys.
FORBES: Massachusetts Supreme Court Strips Foreclosure Buyer Of Property
Since November, Union Bank has also allowed borrowers to roll the costs of a refinance, like the appraisal fee and loan processing fee, into the mortgage.
Deutsche Bank has chosen to use the Reuters NewsScope database which contains data from 2003 on and applies natural language processing algorithms to the wire stories to measure sentiment.
应用推荐