Financial Services

Fiserv Inc, a provider of financial services technology solutions, announced that it plans to upgrade its Financial Advice Solutions through the integration of best-in-class data and analytics from Morningstar.

Fiserv Inc, a global provider of financial services technology solutions, has partnered with Cardlytics, a provider of transaction marketing, to provide its merchants with merchant-funded rewards through Corillian Online, an integrated banking, payment and personal financial management solution used by millions of consumers nationwide.

ICICI Bank has entered into a partnership with a telecom company Vodafone Essar to create a joint venture that will offer mobile financial services to a huge base of unbanked consumers in India.

The companies will be providing savings accounts, pre-paid instruments and credit products through a mobile phone based platform, tapping Vodafone's 1.5 million retail points throughout the country to acquire and service customers.

Visa Inc., the world's largest retail electronic payments network, has partnered with Monitise plc, leaders in the development and operation of mobile financial services, for the creation of a joint venture to provide a dedicated technology platform for financial institutions and mobile carriers in India so that they could offer their customers a wide range of different financial services.

A financial services company E*Trade has purchased social finance company Cake Financial according to the official post of the latter. Cake Financial reported that the site will no longer exist as an independent service. Instead, its features will be incorporated into E*Trade’s website.

According to some sources there were other bidders for the company like The Motley Fool.

Here is the full text of the posting:

To All Members and Users of Cake Financial-

 Citigroup Inc. filed plans for an initial public offering of its Primerica Inc. life insurance unit late Thursday, and said it will sell the rest of the unit after it goes public.

Divesting Primerica is part of Citi's effort to simplify its operations and raise cash. The bank, one of the hardest hit during the credit crisis and recession, has reported huge losses in the past two years as its investments and consumer loans and credit cards soured.

 Fiserv, Inc., the leading global provider of financial services technology solutions, today announced plans for a new personal payments service that will enable individuals to quickly and easily send or receive money person-to-person using their existing online banking relationship. The service will be made available to the more than 3,100 financial institutions in the Fiserv online payment network, linking users with their friends, family, neighbors and colleagues. 

 Fiserv, Inc., the leading global provider of financial services technology solutions, today announced that IDC Financial Insights, a leading independent and global provider of research-based advisory and consulting services, American Banker and Bank Technology News have once again ranked Fiserv as the No. 1 company on the FinTech 100 for 2009, an annual international listing of the top technology vendors from the financial services industry. Fiserv has been a top leader in this survey every year of the survey’s existence, earning the No.

 TD AMERITRADE Holding Corporation has appointed David Kimm as the Company’s chief risk officer. Kimm joins the company in October and will work with the Company’s various business units to help identify and manage the company’s credit, market and operational risks, as well as overseeing the firm’s regulatory compliance and audit functions. 

 Fiserv Inc, a provider of IT services and systems to the financial services sector, announced that it had agreed to sell its Loan Fulfillment Solutions (LFS) business to a unit of ISGN Corp. The financial terms of the deal were not uncovered by the company that purchased LFS in 2003.

The agreement stipulates that Fiserv will get a minority ownership interest in CFCL Technologies Ltd, the parent company of ISGN Corp.

As Fiserv says it does not expect any impact of the deal on its financial results.

 A study by brand reputation firm MarkMonitor revealed that phishing attacks increased to a record high during the second quarter of 2009 with the number of unique attacks amounting 151,000.

The Internet has become part of our everyday life, so it makes sense to move our financial transactions online. Nowadays, most banks offer their customers the option for online banking. This service is available seven days a week, 24 hours a day.

The beauty of online banking is that you can manage your money more easily. Even better, you can earn a very competitive return.