STAR® Insights

Banking on Debit Card Loyalty Proves the Perfect Program for American State Bank

Fri, 27 May 2011 18:00:01 GMT

From its humble beginnings in 1948, American State Bank is now a leader in personal and business banking, with $2.5 billion in assets and 37 locations in 21 West Texas communities. However, when an existing debit card loyalty program proved less than robust, the bank sought to reward customers by converting to a superior program.

The Path to Compliance: Selecting Another PIN Debit Network

Tue, 22 Mar 2011 22:00:01 GMT

The Durbin amendment of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (DFA) is causing tremendous upheaval in the electronic payments industry. The law calls for the U.S. Federal Reserve Board (FRB) to develop regulatory provisions that affect debit interchange rates, debit network processing, and merchant payment acceptance options. These dramatic changes will impact the business of every issuer of debit cards.

First Data helps Michigan's Firstbank Corporation fight debit card fraud

Wed, 23 Feb 2011 22:00:01 GMT

When Firstbank Corporation began experiencing an increase in debit card fraud, it turned to First Data for help. The solution was First Data's Fraud and Risk Premium Package, a comprehensive set of solutions that includes its Fraud and Risk Identification Service (FRIS), FRIS realtime scoring for debit transactions, card validation for PIN transactions and a full suite of card management tools. And the results have been dramatic. In 2009 Firstbank lost less to fraud than in any recent year, a remarkable achievement in the face of the nationwide trend toward increased card fraud.

First Data helps Cattaraugus County Bank strengthen ties with the business community

Tue, 8 Feb 2011 22:00:01 GMT

Cattaraugus County Bank (CCB) is a community bank serving a small customer base with big expectations. When customer demand sent CCB looking to launch a business debit card program, the bank went with its first and only choice, First Data.

TruMark Financial Takes Cost Savings to the Bank

Tue, 11 Jan 2011 22:00:01 GMT

TruMark Financial, a $1.2 billion community-chartered credit union in the Philadelphia area, sought a vendor that would help it efficiently provide a full range of services to meet increasing member demands. In First Data it found a long-term payments partner to provide a variety of services to support its growth over the years, including transaction processing, fraud prevention solutions and ATM management.

Why wait for EMV to solve your fraud problems? One-time use card numbers can reduce debit fraud now

Tue, 14 Dec 2010 22:00:01 GMT

Learn about a new debit payment solution that builds upon current contactless chip technologies and utilizes one-time card number technology to solve the fraud issues that EMV was created to tackle – and without imposing prohibitive conversion costs on FIs and merchants.

Perspective: The technology behind STAR CertiFlash

Wed, 24 Nov 2010 18:00:01 GMT

As consumers become increasingly concerned about security when they make purchases, fraud is becoming about more than money – it also has the potential to erode consumer trust and loyalty. In this podcast, STAR Director of Product Development Nancy Loomis explains the technology behind STAR CertiFlash, a new PIN-based solution that helps mitigate fraud and increase trust.

First Data helps JM Associates Federal Credit Union keep growing

Fri, 30 Jul 2010 18:00:01 GMT

While JM Associates Federal Credit Union (JMAFCU) holds $80 million in assets and operates only a handful of branches, it serves a membership that’s spread out across the country. To fully serve its members, the credit union needed a network partner big enough to keep everyone connected but willing to work with a smaller institution. Find out how First Data supports JMAFCU’s growth with innovative solutions and superior customer service.

First Data helps JM Associates Federal Credit Union keep growing

Fri, 30 Jul 2010 18:00:01 GMT

Perspective: Technology breathes new life into ATMs

Tue, 30 Mar 2010 23:00:01 GMT

I think new technology gives ATMs new life — and provides important opportunities for financial institutions to profoundly change the ATM’s role in customer interactions. I just wrote an article on this topic that has been published online by Bank Systems & Technology. The article covers the four recent technological developments that financial institutions can leverage. Here’s the short version. You can read the full article at BankTech.com.

Don't Wait For a Data Compromise

Thu, 21 Jan 2010 23:00:01 GMT

When it comes to data breaches, the question may not be “if” your organization will become a target; the question may more likely be “when?” Fortunately, careful operations planning and preparation can control costs, improve customer loyalty, and preserve your reputation if the unlucky day arrives and your organization is affected by a data-compromising event.

Perspective: What Do Consumers Really Think About Debit Rewards? And What Can You Do About It?

Mon, 4 Jan 2010 23:00:01 GMT

Consumers are increasingly choosing debit over credit. Many members of Generation Y have always used debit cards–39 percent of Gen Yers use their card at least 15 times each month, according to Aité Group’s 2009 report Engaging GenY: Cultivating a New Generation of Banking Customers–and other consumers are making the transition as a way to re-structure how they control their spending.

Perspective: Linking STAR® Debit Card Accounts to PayPal®

Tue, 13 Oct 2009 23:00:01 GMT

First Data recently announced an agreement with PayPal® that allows debit cardholders in the STAR® Network to link their debit cards to PayPal accounts right from their financial institution’s online banking site. This is an industry first, and we’re excited to be working with PayPal to help consumers feel more comfortable when they shop online.

New Technologies in Fraud Prevention a Worthy Investment

Fri, 28 Aug 2009 23:00:01 GMT

First Data conducted an analysis of 2008 reported fraud instances to discover which solutions work best to detect and prevent fraudulent activity with debit card transactions. The analysis tracked three categories of debit accounts: those using no neural network-based fraud detection solutions, those using only a neural network solution and those protected by both neural network and rules-based decisioning tools. This document provides a summary of our findings.

2009 Debit Card Rewards—Consumer Insights

Tue, 25 Aug 2009 23:00:01 GMT

First Data Competitive Intelligence conducted the Consumer Loyalty Study with 2,449 U.S. consumers in April 2009. The study focuses on rewards programs with Financial Institutions (FIs), the travel sector and the retail sector. This CI Market Brief focuses on consumer insights regarding rewards for the FI sector. Sample size completing the survey for Debit Card rewards programs was 286.

2009 Financial Institutions Rewards Programs—Consumer Insights

Tue, 25 Aug 2009 22:59:01 GMT

First Data Competitive Intelligence conducted the Consumer Loyalty Study with 2,449 U.S. consumers in April 2009. The study focuses on rewards programs with Financial Institutions (FIs), the travel sector and the retail sector. This CI Market Brief focuses on consumer insights regarding rewards for the FI sector. Sample sizes completing the survey for specific rewards programs are as follows: Bank Credit Card (n=290); Debit Card (n=286); Gas Credit Card (n=135); Department Store Credit Card (n=197).

PCI and Handling Sensitive Cardholder Data—;Why You Care

Sat, 25 Jul 2009 23:00:01 GMT

The cost of Payment Card Industry Data Security Standard (PCI DSS) compliance is vastly underestimated—but maybe not as understated as the tangible and intangible costs of a data breach. Every merchant that accepts payment cards has a cardholder data environment (known as CDE, or the computer systems and applications that use or store sensitive card data) that comes under the purview of the PCI DSS. It’s possible to limit—and even shrink—the scope of the CDE in order to reduce or minimize the merchant’s PCI burden.

The Case for ATM Advertising

Sun, 19 Jul 2009 23:00:01 GMT

ATM advertising delivers a customized message to a targeted audience. It also enables advertisers to measure the effectiveness of their campaigns, giving results which are often far higher than for other advertising channels. So why aren’t more organizations using it?

What if Your Automated Electronic Invoice Presentment and Payment (EIPP) Process was Really Automated?

Tue, 16 Jun 2009 23:00:01 GMT

Changes in consumer behavior, market saturation and increased operational costs have contributed to the decline in automated teller machine (ATM) profitability. Forward-looking financial institutions (FIs) are rethinking their ATM strategy and moving toward exciting new technologies. Recent innovations present FIs with an opportunity to turn ATMs into customer relationship tools, marketing to specific consumers. These new ATM programs help strengthen relationships, increase loyalty and generate revenues.

Five Tips for Community Financial Institutions to Grow Market-Share

Sat, 30 May 2009 23:00:01 GMT

First Data understands the challenges and opportunities that community financial institutions (FIs) face in this current economy. We researched the competitive landscape and talked with some of our customers about their success attracting new customers. This document shares five lessons to help other community FIs grow market-share.

Rethinking Outsourcing in Light of Economic Conditions

Mon, 4 May 2009 23:00:01 GMT

Changing economic conditions are turning old arguments against outsourcing upside down as organizations seek ways to cut costs. Outsourcing is not a new idea—just more timely and attractive now. Flat and declining budgets make it harder to maintain service levels that exceed customer expectations. The economy, new technologies and new regulations lead more financial institutions (FIs) and billers to migrate from in-house to outsourced non-core functions.

FACTA

Tue, 7 Apr 2009 23:00:01 GMT

First Data offers a host of solutions designed not only to help your financial institution become compliant with the Fair and Accurate Credit Transaction Act (FACTA) Red Flag Rule guidelines, but also to help you stand apart from the competition as a leader in protecting consumer information from fraud and risk. This document shares ideas on how you can detect, prevent and mitigate identity theft to your covered accounts.

Redefining the Case for Effective ATM Management

Fri, 27 Mar 2009 23:00:01 GMT

Despite the emergence of internet banking and, increasingly, mobile banking, the global installed base of ATMs is expected to grow by 41 percent between 2007 and 2013*. For banks looking to get the most from their ATM networks, outsourcing can be a major advantage. Andrew Morse, Vice President of Self Service Solutions for First Data in EMEA, discusses.

Now You See It, Now You Don’t: A Review of Fraud Costs and Trends

Wed, 11 Mar 2009 23:00:01 GMT

Fraud, in the form of cyber crime, security breaches, identity theft and others, is more dangerous to your organization than you think, and treating it simply as a risk of doing business may embolden criminals and cost you customers. A well-designed fraud management program can help protect your customers and improve profitability.

Trusted Service Management: The Key to Accelerating Mobile Commerce

Wed, 11 Mar 2009 22:00:01 GMT

As major players struggle to define their roles in the emerging mobile commerce ecosystem, how they enable one critical service will make all the difference between slow and rapid acceptance of mobile commerce by consumers.

Selecting a Secure and Compliant Prepaid Reloadable Card Program

Mon, 9 Mar 2009 23:00:01 GMT

The current changes in consumer spending habits have led to an increase in the popularity of branded prepaid “general purpose” reloadable (GPR) cards. Unlike conventional prepaid cards, prepaid GPR cards allow customers to reload the cards with additional funds and even set up direct deposits to the cards, which make them especially appealing to unbanked and underbanked consumers. Distributors of GPR cards should review program compliance as an integral part of the overall value proposition.

ATM Outsourcing: Turning Costs into Profits

Fri, 27 Feb 2009 23:00:01 GMT

New hardware and software are revitalizing ATMs, but the cost can be high. Now there’s a way for financial institutions of all sizes to upgrade to the latest ATM technologies, and improve their bottom lines too.

Bill Payment Trends: Major Shifts in Consumer Behavior Require Comprehensive Planning

Sat, 21 Feb 2009 23:00:01 GMT

Paying by check, over the phone, directly from a bank account and over the Internet make it incredibly easy for consumers to take care of their monthly bills. At the same time, this convenience increases the complexity and cost for businesses to process these different types of payments. And it’s only going to get more complicated as several major payment trends emerge—including prepaid, mobile and kiosk payments.

Breathe New Life into Your ATM Program with Progressive Marketing and Customer Relationship Management Tools

Wed, 8 Oct 2008 23:00:01 GMT

Is Your Internet Banking Solution Costing You Customers?

Wed, 8 Oct 2008 22:00:01 GMT

Sixty-one million households use Internet banking today and two-thirds of those users would switch financial institutions (FIs) for a better online banking solution. Despite the growing importance of Internet banking to attract and retain high-value customers, many FIs still rely on first-generation systems that lack the service levels and features that savvy online bankers are seeking.

FACTA: Turning Regulatory Compliance into Business Growth

Tue, 16 Sep 2008 23:00:01 GMT

Even with education and high-tech systems designed to protect consumers, identity theft continues to be a major concern. As this and other types of fraud proliferate, financial services companies are in danger of losing customers’ confidence in the event of a security breach. The Fair and Accurate Transaction Act (FACTA) Red Flag rules—designed to address these issues, require financial institutions and creditors to implement a written identity theft prevention program to detect, prevent and mitigate identity theft.

Rethinking the Case for Hosted IVR

Wed, 13 Feb 2008 23:00:01 GMT

Voice over Internet Protocol’s (VoIP) impact on transfer cost changes the equation for hosted IVR and unlocks significant new opportunities for voice application outsourcing.