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Why FIs should resolve to outsource their ATMs in 2019

By Yonas Marcos, President and CEO, Star Financial Services

Financial institutions need to have ATMs in easily accessible, convenient locations in order to retain and attract account holders.

However, due to changing technology, increasing compliance requirements and growing security risks — not to mention the upcoming migration to Windows 10 — it can be financially and operationally overwhelming for banks and credit unions to manage and maintain their aging ATM fleets.

Rather than continue to struggle through another year with terminal upgrades and updates, management and repair, many banks and credit unions might find that ATM outsourcing presents a fiscally sound and sensibly time-saving alternative to owning and operating their own fleet.

source: Star Financial Services

Judging by recent cardholder trends, the majority of financial institutions today are allocating a greater portion of their budget and human resources to the development and implementation of mobile, online and other electronic banking tools.

More often than not, this means that resources devoted ATMs and the introduction of new functionalities to serve account holders want are being stretched thin.

ATM outsourcing can reduce an institution’s overall operating costs and eliminate the challenges posed by maintaining regulatory compliance across an ATM fleet. Additionally, outsourcing can reduce stress on a bank or credit union’s limited human resources and improve customer or member service across all touch points.

What ATM outsourcing can do for your FI

Reduce operating costs — When financial institutions outsource their terminals with an ATM partner, they benefit from reduced operating costs and unlike with traditional managed services they only have one vendor to manage.

An ATM outsourcing partner should be able to consolidate all services and fees required to operate an ATM into a single monthly payment, freeing up a substantial amount of capital.

Eliminate ATM compliance challenges —One of the greatest benefits of ATM outsourcing is an institution’s ability to drastically reduce or eliminate its responsibility for maintaining compliance in ATM-related matters.

All regulatory responsibility such as upgrading or replacing terminals, installation of software patches, as well as security and fraud protection are addressed by the outsourcing provider.

Improve customer service — A financial institution’s primary goal is to stimulate growth and increase revenue by providing loans and other financial services to account holders. The location and capabilities of an institution’s ATMs undoubtedly play a key role in attracting and retaining account holders. But, outsourcing this aspect of account holder service can ensure not only that account holder needs are effectively met with improved uptime and enhanced functionality, but also that their needs across other channels are more readily met by staff freed from the distractions of having to attend to non customer-facing ATM-related tasks.

If reducing operating costs, eliminating ATM compliance headaches, and freeing up capital and human resources to focus on more customer-centric services without sacrificing ATM uptime and reliability, is appealing then make outsourcing your ATM fleet your New Year’s resolution.


Yonas Marcos is president and CEO of Star Financial Services. He founded the company in 2007 and has grown it into a nationwide financial payment services provider offering electronic and mobile payments, as well as ATM equipment, processing branding, outsourcing for financial institutions and mobile event payment.

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PayPal Appoints Deborah M. Messemer to its Board of Directors

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced it has appointed Deborah (Debbie) M. Messemer, CPA, to its board of directors. Ms. Messemer has more than 30 years of experience advising public and private companies and most recently served as the managing partner of KPMG’s Bay Area and Northwest region. Ms. Messemer will serve on the audit, risk and compliance committee of PayPal’s Board. Her appointment was effective January 16, 2019.

“Debbie is a talented leader whose global perspective, strategic vision and expertise in business strategy and governance will be a valuable addition to PayPal as we continue to grow,” said Dan Schulman, president and CEO, PayPal. “The board of directors and the entire PayPal team join me in welcoming Debbie to the board.”

Prior to retirement from KPMG in September 2018, Ms. Messemer led over 3,000 team members in 10 U.S. offices across all functions, including audit, tax and advisory. She spent a large portion of her career as an audit partner or senior account executive for clients in a variety of industry sectors including financial services and technology. She has significant experience in SEC filings, due diligence, mergers and acquisitions, and internal controls over financial reporting. Ms. Messemer currently serves on the board of directors of Allogene Therapeutics (NASDAQ: ALLO) and Carbon, Inc.

“I’m thrilled to serve on the board of PayPal, a strong company that is reimagining financial services to create a more inclusive global economy,” said Messemer. “PayPal is positioned at the forefront of the global shift to digital payments and I’m inspired by the opportunity to help deliver that vision.”

Ms. Messemer holds a B.B.A. in accounting from the University of Texas at Arlington. She is a member of the National Association of Corporate Directors and a co-founder of the San Francisco Chapter of Women Corporate Directors. She has served extensively on non-profit and advisory boards including the Bay Area Council, the San Francisco Committee on Jobs, the California Chamber of Commerce, the San Francisco Chamber of Commerce, the UC Berkeley Fisher Center Policy Advisory Board, San Francisco Ballet and The Posse Foundation.

The appointment of Ms. Messemer will increase PayPal’s Board of Directors to 12 members. With Ms. Messemer’s appointment, 50% of the board is diverse.

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Andrew DeLaMare on his 2019 SAMY Win – OptConnect Blog

My initial thoughts on earning the SAMY award were “is this even a real thing?” and I was completely surprised that I would even be nominated for it!  After realizing the legitimacy of the award and the difficulty of attaining sales success on a consistent basis, I was more deeply impressed with the integrity of OptConnect for nominating me in the first place to win this recognition.


I have always felt that OptConnect was built on a team- and customer-first mentality.  From the moment I met Chris Baird, our company CEO and our original Sales Manager, Matt Warner, I learned from those two mentors that if the boss cares about people and customer service, everyone in the company will care.

That energizing culture has been a major factor in my success at OptConnect, and also in my growth as a sales professional. The SAMY award means a lot more to me knowing that OptConnect would submit my name for this award without my knowledge or involvement.  It speaks to the integrity of the team, and was the original focus that attracted me to work for such a company in the first place.

In any sales role, meeting the right person at the right time can be a factor for some to achieve success, but I have learned that consistent hard work and tactful persistence in follow up help us the most in our daily pursuits of our goals.  Ultimately, hard work and consistency have helped me stay above the board in what I am asked to do.

Each day I am excited to come into work at OptConnect, and I think considering the summary above about what sales and technology can do, it is worth noting that OptConnect is making new waves in wireless technology as we know it today.  These waves and additional investment in technology excite me and drive me to do even more to help foster that growth here at OptConnect.

I am thankful each day that I have the opportunity to be a part of a great team, and I am proud to list my name next to OptConnect’s in accepting this SAMY award.

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Touch Dynamic Integrates with MagTek For its Newest EMV Level 3 Certified Quest III Windows Tablet

by MagTek, Inc.

MagTek, a global leader in retail electronic payments and security technology, and Touch Dynamic, a leading manufacturer of all-in-one point of sale (POS) systems, small form factor PCs, rugged tablets and POS peripherals, are excited to announce Quest III, a rugged POS tablet. Quest III brings a touch screen device with EMV Level 3 certification into the marketplace.

Mobile payment applications and environments, from medical facilities to the outdoor elements of a home delivery solution, will benefit from Quest III. This rugged mobile payment tablet features WiFi and Bluetooth LE communications, a 7″ projected capacitive touch screen, and MagTek’s mDynamo, a modularized EMV card reader with an attached encrypting IntelliHead, securing both contact EMV and magnetic stripe transactions.

“Teaming up with MagTek is a perfect fit for us as we provide rugged and secure mobile payment hardware to our customers,” said Craig Paritz, President, of Touch Dynamic. “Innovative hardware design sets our products apart, and MagTek’s mDynamo supports our high standards with the highest card data security.”

“We’re truly excited to partner with Touch Dynamic in selecting mDynamo,” says Tom Coduto, Vice President and General Manager of MagTek’s OEM Business Solutions. “Mobile POS needs can vary widely in the marketplace, which is why we take pride in partnering with Touch Dynamic and their ability to meet such a broad range of needs in a compact solution with Quest III.”

Quest III advances the capabilities of accepting payments with both encrypting magstripe and contact EMV acceptance. In addition to the data security provided by mDynamo, Quest III offers low power consumption, more storage and memory, and is compatible with both Android and Windows operating systems. Behind the scenes, the dedicated teams at Touch Dynamic and MagTek offer expert integration and product support for Quest III, offering easy implementation into a merchant’s environment for a dynamic payment terminal.

To learn more about MagTek’s mDynamo, visit or stop by Booth #4173 at the NRF Convention and Expo 2019, at the Jacob Javits Convention Center, New York City, NY on January 13 – 15. To learn more about Touch Dynamic visit

Since 1972, MagTek has been a leading manufacturer of electronic devices and systems for the reliable issuance, reading, transmission and security of cards, checks, PINs and other identification documents. Leading with innovation and engineering excellence, MagTek is known for quality and dependability. Its products include secure card readers, check scanners, PIN pads and distributed credential issuing systems. These products are used worldwide by financial institutions, retailers, hotels, law enforcement agencies and other organizations to provide secure and efficient electronic payment and identification transactions.

Today, MagTek continues to innovate with the development of a new generation of security centric products secured by MagneSafe™. By leveraging strong encryption, secure tokenization, real time authentication and dynamic payment card data, MagneSafe products enable users to assess and validate the trustworthiness of credentials used for online identification, payment processing, and other high-value electronic transactions.

MagTek is based in Seal Beach, California and has sales offices throughout the United States, Europe, and Asia, with independent distributors in over 40 countries. For more information, please visit

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The “Oscars” of Immigrant Success: Nominations are now open for the RBC Top 25 Canadian Immigrant Awards

TORONTO – With more than one million newcomers coming to Canada within the next three years*, sharing and celebrating positive stories of immigrants in an increasingly diverse Canada is more important than ever.

For the last decade, the RBC Top 25 Canadian Immigrant Awards program has been doing just that — highlighting inspiring stories of immigrants who have made incredible contributions to Canada, and honouring them with the most esteemed national award celebrating immigrant success.

Since the RBC Top 25 Canadian Immigrant Awards program launched in 2009, we have received thousands of nominations, shortlisted 750 nominees and awarded 250 remarkable immigrants.

It’s Time to Nominate for the 2019 Awards!

Is there an inspiring immigrant deserving recognition that you know? Do they have a story that should be heard and honoured across Canada? Canadian Immigrant and the title sponsor, Royal Bank of Canada, are now calling on all Canadians to nominate these extraordinary immigrants at

“Our goal at Canadian Immigrant is to support newcomers integration and success in Canada. Through the RBC Top 25 Awards program, we celebrate immigrants who have achieved great things and, in turn, serve as inspiring role models,” said Margaret Jetelina, Editor of Canadian Immigrant, a national multimedia platform and producer of the awards. “Canada has always has been known as a welcoming country to immigrants, and these awards are a shining example of that humanitarian hospitality.”

Immigrants who have been honoured with this prestigious national award in the past include well-known Canadians like restaurateur/TV host Vikram Vij, acclaimed ballerina Chan Hon Goh and former Governor General of Canada Adrienne Clarkson, as well as other immigrants who demonstrated incredible contributions and achievements in their communities and for the country.

“RBC is committed to supporting newcomers in Canada and is honoured to be able to celebrate their significant contributions and successes that positively effect change in our country,” said Ivy Chiu, Senior Director, Newcomer Strategy, and RBC. “These awards not only showcase the richness and diversity that newcomers add to the fabric of our communities but also the important role they play in making Canada the success it is today and will continue to in the future.”


A nominee can be anyone who has immigrated to Canada and has since contributed to the success and uplifting of this country and its people. Achievements can be either professional or personal. Nominees must be aged 15 or older, hold landed immigrant (permanent resident) or citizen status in Canada, and reside in Canada.

Entrepreneur Award

This will be the fifth consecutive year that one of the Top 25 winners will also be selected for the additional Entrepreneur Award, honouring one of the Top 25 who has demonstrated entrepreneurial excellence in business. No additional application is required to apply for this award.

Youth Award 

For the third consecutive year, the Top 25 will include the Youth Award, which recognizes young immigrants between the ages of 15 and 30 who are making a difference through achievement and/or service, and who exhibit great potential as long-term contributors to Canada. No additional application is required to apply for this award.

Settlement Agency Award 

Canadian Immigrant and RBC are also happy to announce the return of the Settlement Agency Award. For the second consecutive year, this award recognizes the amazing work immigrant settlement agencies are doing to help newcomers integrate and succeed in Canada. Concurrent with the RBC Top 25 Awards, we are now accepting nominations for the top immigrant settlement agencies in your community at 

One agency will be selected to receive the Settlement Agency Award for 2019 after an online voting process. Last year’s inaugural winner was Vancouver-based ISSofBC, oone of the oldest immigrant-serving agencies in Canada.

Nomination Process

Nominations can be made at until February 22, 2019, 11:59 p.m. EST. A distinguished panel of judges made up of past winners will review all nominees and present a list of 75 finalists who will be announced in March, after which all Canadians can vote for their favourite nominees.

The 25 winners will be announced on June 2018 in Canadian Immigrant and online at Winners will receive a commemorative plaque and a $500 donation to a charity of their choice provided by RBC. Media partners include Toronto Star, Metro and Sing Tao.

About Canadian Immigrant

Attracting more than 400,000 readers each month and over 100,000 visitors a month online, Canadian Immigrant is a national multimedia platform to help immigrants succeed in Canada, with content, resources and events on careers, education and settlement. Canadian Immigrant is the producer of the cross-country Canadian Immigrant Fairs. Canadian Immigrant is a division of Metroland Media Group, a dynamic media company with more than 100 community and daily newspapers in print and online, as well as innovative websites including,, and

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 84,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 16 million clients in Canada, the U.S. and 34 other countries. Learn more at‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at

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Markets vs. Economists: Scotiabank Economics Global Outlook

TORONTO – Global growth is moderating and coming off peaks achieved in 2017-18. This long predicted development reflects in part tightening by central banks, a natural cooling of the pace of growth, and the impacts of elevated uncertainty owing to developments in financial markets and the evolution of the China-US trade war.

“The decline in equity markets and movements in certain parts of the yield curve over the last few months suggests a clear disconnect between economic prospects as evaluated by markets and those forecast by economists,” said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank. “As the risk landscape improves in the first months of 2019, the underlying strength and resilience of the global economy will become more apparent, and central banks that were in tightening mode will resume doing so.”

Highlights of Scotiabank’s Global Outlook include:

  • Canada: Growth is expected to slow modestly to 1.8% during 2019 before rising to 2.0% in 2020.
  • United States: U.S. economic growth is forecast to slow to 2.4% in 2019, before slowing further to 1.7% in 2020.
  • Mexico: Policies implemented thus far by the new government have led to a markdown in growth to 1.6% in 2019, with growth expected to rebound to 2.3% in 2020.
  • United Kingdom: We assume a hard Brexit is avoided, allowing the UK economy to grow by 1.5% in 2019 and 2020.
  • Latin America: Growth is expected to accelerate or remain quite strong in Peru, Colombia and Chile.
  • China: China’s economic growth continues to slow on the back of a trade dispute with the US, authorities’ deleveraging efforts, and ongoing structural changes in the economy.

Read Scotiabank’s Global Outlook online at: Markets vs. Economists.

Scotiabank provides clients with in-depth research into the factors shaping the outlook for Canada and the global economy, including macroeconomic developments, currency and capital market trends, commodity and industry performance, as well as monetary, fiscal and public policy issues. Follow this research on Twitter at @ScotiaEconomics.

About Scotiabank

Scotiabank is Canada’s international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 97,000 employees and assets of $998 billion (as at October 31, 2018), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

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ANZ to serve up more financial wellbeing at the Australian Open

Each ace will help improve the financial wellbeing of one more Australian through ANZ’s partnerships with The Benevolent Society, Berry Street, Brotherhood of St Laurence and The Smith Family.

ANZ Head of Financial Inclusion Michelle Commandeur said: “ANZ wants to help more people get on top of their money and financial wellbeing is a big contributor to this.

“Financial wellbeing is just as important as mental, physical and emotional health and it allows people to fully participate in their community. We’re proud of what we are able to deliver through our MoneyMinded program to help Australians make informed decisions about how to manage their money.”

Single mum Danielle was living week to week prior to participating in MoneyMinded and said the program helped improve her financial wellbeing: “It has turned my relationship with money around and spurred me to save for my family for the very first time.

“Since completing the program I finally have the motivation to get out of debt and start saving. I no longer dread the thought of managing my money, and feel more in control of my finances.”

Ace the Open will recognise every ace served by every player across all courts at the Australian Open including singles, doubles, mixed, wheelchair and juniors.

ANZ will also extend Ace the Open with pop-up courts stationed in Melbourne, Sydney and Brisbane for members of the public to get involved with $1 from every ace they serve added to the overall tally.

ANZ will donate a minimum of $100,000 through its Ace the Open program to help improve the financial wellbeing of the nation.

To learn more about ANZ’s MoneyMinded program visit moneyminded/

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New Year and new starters for Kiwibank Executive Committee

Today Mike Hendriksen joined Kiwibank as its as Chief Legal Officer and next week Elliot Smith begins as its new Chief Strategy and Innovation Officer.

Kiwibank’s CEO Steve Jurkovich said he was looking forward to the leadership experience the pair would bring to the New Zealand-owned bank’s executive committee.

“Mike Hendriksen is a highly qualified barrister and solicitor who has specialised in financial services for many years. He’s made the great decision to leave an Aussie-owned bank and join the local team,” Mr Jurkovich said.

“In particular, Mike will bring in-depth knowledge of regulatory issues. He’s been deeply involved in the response to the findings of the Australian Royal Commission that sparked both the FMA and RBNZ’s review of banking conduct and culture. Mike will be instrumental in helping Kiwibank consider our own changes – both in response to the changing expectations of our stakeholders, and for our own local regulators, who understandably want to see evidence of great customer outcomes.

“Elliot’s background is in relationship banking, corporate finance, and product and business model transformation. Kiwibank is at an exciting and critical point. The financial industry is facing disruption and Elliot has an excellent understanding of how to make the most of those opportunities, from the perspective of the customer, our bankers and the implications on the Kiwibank strategy.

“Both Elliot and Mike bring a wide range of skills and experience that make them ideal for Kiwibank’s next phase of growth, which will see us have much bigger impact on the New Zealand banking markets.

“To support this growth phase, Kiwibank needs the best of both worlds – significant external talent like Mike and Elliot joining the team, and the development of our own internal talent. Luckily, we’re attracting the former and we have the latter in spades,” Mr Jurkovich said.

Mike Hendriksen starts with Kiwibank on Monday 14 January and Elliot Smith starts on 21 January. Both will be based at Kiwibank’s Auckland office.

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RANCHO CUCAMONGA, Calif. – Credit unions are bullish on their debit card programs heading into 2019, driven by rising instant issuance capabilities and increases in PIN debit transactions, according to a free, in-depth report now available from CO-OP Financial Services.


Findings from the report highlight several key trends for credit union issuers, including:


  • Profitability: Many credit unions surveyed are predicting growth and profitability in the next 12 months for their debit card programs

  • Instant Issuance: The prevalence of instant issue capabilities is driving a high ratio of debit cards to checking accounts. Nearly 40 percent of respondents indicate their credit unions have achieved a 70 percent or greater debit card-to-checking account ratio. In addition, 63 percent of the respondents in this study offer or are planning to offer instant issuance

  • EFT Network: In-store purchases with PIN and withdrawing cash from an ATM are the two most popular transactions among U.S. debit cardholders. As transactions conducted on the PIN debit networks are increasing, they are having a material impact on several fronts, including revenue, rewards and fraud management


In addition to exploring trends like those above, the Debit Benchmark Report includes a comprehensive collection of pragmatic approaches to portfolio management for credit unions looking to improve the overall performance of their debit programs.


“Although the debit card is just one of a growing list of payment mechanisms available to credit union members today, it remains a consumer favorite,” said Todd Clark, CO-OP President/CEO. In fact, Debit card payments made up nearly 67 percent of card payments in 2017, according to Federal Reserve Board data reported last month.


“Debit card portfolio management, like every facet of financial services today, is only successful when it’s iterative,” said Clark. “As the leading debit card transaction processor in the industry, we believe it is incumbent on CO-OP to provide our credit union partners with valuable insights into the evolving channel – not only from a strategic standpoint, but also from a programmatic one.”


The Debit Benchmark Report was prepared by CO-OP in partnership with Mastercard and Mercator Advisory Group. The study analyzed survey responses from 240 U.S. credit union participants related to debit card usage, issuance and management.


Additional takeaways from the Debit Benchmark Report include:


  • Rewards: When it comes to incentivizing debit card usage, 55 percent of credit unions are considering or actively offering loyalty rewards programs

  • Digital Wallets: A total of 55 percent of survey respondents have experienced increases in the number of debit cards enrolled in a mobile wallet like Apple Pay, Google Pay or Samsung Pay. Also, 53 percent have experienced increases in the number of debit cards transactions coming from the mobile wallet channel

  • Mobile Banking: A full 80 percent of survey respondents believe the ability to check balances and transaction details is extremely important in the mobile banking channel. Roughly 50 percent believe debit card alerts and bill payments are extremely important to debit cardholders who use a mobile app to access their debit card features

  • Fraud: Most executives surveyed believe debit card fraud through card-not-present channels will continue to grow and require attention, but they are confident their organizations are currently well positioned to protect their cardholders. An overwhelming number, 91 percent, currently rely on a neural network to detect and stop fraud; while 34 percent have invested more in fraud tools at the processor level in the last 12 months


Executives, debit card product managers and staff from all areas of the credit union industry are invited to download the debit report at CO-OP’s website.

About CO-OP Financial Services

CO-OP Financial Services is a payments and financial technology company whose mission is ensuring the success of the credit union movement. CO-OP payments solutions, engagement services and strategic counsel help credit unions optimize member experiences to consistently provide seamless, personalized multi-channel offerings, while delivering secure, sophisticated fraud mitigation service. For more information, visit


Bill Prichard, APR

Director, Public Relations

CO-OP Financial Services

800.782.9042, ext. 3450

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