GLG News by ATM Market Experts

U.S. banks are imaging more than 10 million checks daily and that number is growing exponentially as banks and credit unions make  investments in check imaging, no-envelope deposit technology and integrate it into their daily processing. Bank of America has rolled out check imaging and no-envelope...

Synovus 2Q07 net income rose by 6.5% as the company's growth was fueled by TSYS' strong performance during the qtr and first six months of the year. However, Synovus is mulling over whether or not to spin-off TSYS. TSYS 2Q07 performance was robust with internal revenue growth of 12% and international...

Although open-loop prepaid cards will grow at a 36% CAGR by 2010, closed-loop prepaid cards transaction volumes has surpassed open-loop cards since the 1990s. In 2006, consumers spent over $29 billion in prepaid closed-loop cards and 53% spent more than the cards value. This trend is shifting as consumers...

After considering all of its options Barclays made a strategic decision to seek investors from Asia to help fund its bid for ABN and to add a "cash component" to the bid of 37% or $34.3 billion and the remaining $59.03 billion will be in Barclays shares, raising their bid to $93.3 billion from $91 billion,...

Barclays raised the stakes on 7.23.07 when it announced they upped the anty by raising their bid from $91 billion to $93 billion, with 37% deriving from cash. Additionally, Barclays has found two new allies, one from China and the other from Singapore, who may help Barclays turn the Consortium on its...

Implications: After much prodding and poking banks are integrating image-exchange into their infrastructures to reap the cost benefits of cheaper check processing. Image volume will grow from 2.9 billion items in 2006 to a high of 15.3 billion in 2008 and decline to 10.8 billion items by 2011. Ironically,...

Implications: Banks market share of remittance business is only 16%, while more than 50% of total volume of remittances are distributed by financial institutions overseas. Countries with the highest remittance flows are the U.S. with over $39 billion, followed by Saudi Arabia - $14 billion, Switzerland...

Implications: With a compound annual growth rate of 9.37% the prepaid card market has plenty of banks and merchants eager to jump in the market with open-loop and closed-loop prepaid transactions forecasted to exceed $236 billion by 2009, up from $165 billion in 2005. The closed-loop prepaid market...

Implications: In less than 30 minutes the Dutch court ruled that the sale of LaSalle Bank to Bank of America for $21 billion does not require a shareholder vote and can move forward. Additionally, it threw a sharp blow to the shareholder group, VEB who originally filed suit to block the sale, stating...

Implications: Banks and credit unions are once again answering questions before the House Committee on Financial Services and this time the questions raised are over banks and credit unions policies on overdraft fees for ATM & debit transactions, which netted a stream of fee revenue to the tune...