All GLG News Analyses Filed Under: Transaction & Payment Processing

Art GillisPresidentComputer Based Solutions, Inc.

If I were the CFO of a bank tech services company, I would.......

February 28, 2008

Analysis of:Collaboration Is Job One | www.banktech.com

You can fill in the rest of that title statement as you see fit.  The reason I am writing this analysis is because clear-thinking investment analysts believe that when banks are in trouble, they will cut back on tech spending, among other expenses.  That’s a logical position to take, at least on the surface, but there’s more to this issue than a surface look, and I’d like to explain the details.This is how I would complete the title statement.  .........do the following three things.

ATM and POS Systems:Forward Stocking and Serviceability Enhancement

February 27, 2008

Analysis by: GLG Expert Contributor

Analysis of:Australia to test mobile phone SIM cards, open the door for mobile banking | www.atmmarketplace.com

Implications: 1.Central Wharehousing is likely to improve the processing of shipping replacement parts , thereby an improvement of profitability. 2. Cost reductions are critical to ALL parties of this transaction and will, eventually lead to a value - added to the firm's - LONG TERM. 3. In the SHORT TERM - profit enhancement may not be evident. 4.Time - Critical situations pose a threat to many Institutions and, therefore, Strategic Partnering is essential to all financial movements. 5.Two (2) viable outcomes are: improved customer service and a monumental EXTENSION of the entire customer base. 6.Technology Enhancement:placement of orders,management of inventory and shipment status are valued Industry objectives.

Kamala WorthingtonPresidentKW Marketing Consultant

Citi Launches QuikRemit to Gain Share of Global Remittances Growth

February 14, 2008

Analysis of:Citi Launches New QuikRemit Service | www.citigroup.com

In 2007, over 150 million migrants worldwide sent more than $300 billion to their families in developing countries, which is up from $268 billion in 2006. Citi acquired PayQuik in January 2008 to expand its remittance offerings and to gain a greater share of the growing remittance market. It's a success story that PayQuik was birthed by a immigrant from India, who after graduating from Wharton teamed up with a former classmate and they pooled their funds from family and friends to launch PayQuik in 2000. U.S. immigrant workers sent home approximately $42.8 billion in 2007 and 73% of Latin Americans who live in the U.S. send an average of 10% of their paychecks back home each month. In the past, their choices for sending funds back home was by a paper check, wire transfer or through one of the money transfer organizations such as Western Union. QuikRemit could level the playing field by removing the hassles, delays and high fees often associated with traditional remittance providers.

Art GillisPresidentComputer Based Solutions, Inc.

So you’d like to see some changes in banking, eh?

February 13, 2008

Analysis of:CORILLIAN AND STRIKEFORCE PARTNER TO FIGHT FRAUD BY STRENGTHENING ONLINE AUTHENTICATION FOR FINANCIAL INSTITUTIONS | www.windowsfs.com

Two years ago, I saw a list of opinions regarding his/her/their “own grandiose challenge to the industry.”  In my opinion, it was more like an in-your-dreams list, so I saved it to see if a couple of years would produce any kind of change close to the dream.  The short answer is, it would take decades or fuggetaboutit.  Here’s the score card:

Kamala WorthingtonPresidentKW Marketing Consultant

Ingenico Is Making A Play For Hypercom for $332 Million

February 13, 2008

Analysis of:INGENICO Sends Letter to Hypercom Board of Directors | biz.yahoo.com

Ingenico wants to acquire Hypercom for $332 million but Hypercom's impending acquisition of Thales e-Transactions business unit could be a "deal breaker." Hypercom's shares shot up 30% on 2.11.08 on news of  Ingenico's offer to acquire Hypercom. Ingencio is offering a 59% premium on Hypercom's closing stock price on 2.8.08. Thales e-transactions business unit makes ATMs and other electronic payment terminals and the acquisition would complement Hypercom's product offerings, expand its global market reach to France, Germany, the U.K., Spain, Belgium and Sweden and create cost synergies. If 2008 performance metrics are met by the combined company, Thales could get a potential earn out of up to an additional $30 million. Since 2005, Hypercom has endured two management shakeups, with its  most recent in 2007, when its CEO Will Keiper resigned in July 2007. As Hypercom appears to be making a turn around the corner, Ingenico is knocking on its door with strings attached.

Voting Machine Upheaval

February 12, 2008

Analysis by: GLG Expert Contributor

Analysis of:Diebold to cut 800 jobs due to deteriorating credit markets | www.atmmarketplace.com

This portrays a falsehood that this is about the credit markets when we all are aware that the majority of states (if not all) have recently turned their backs on Diebold's crappy electronic voting machines. California dumped them, like so many others. Now there's no need for all the contracts and people to support them.

Kamala WorthingtonPresidentKW Marketing Consultant

Credit Crunch Blamed For Diebold's 800 Job Cuts

February 12, 2008

Analysis of:Diebold to cut 800 jobs due to deteriorating credit markets | www.atmmarketplace.com

2006-2007 has been a transition period for Diebold as it completes an investigation by the SEC and DOJ based on its "bill and hold" method of reporting revenue, which meant a sale was recorded and ownership was given to a customer, however, delivery didn't occur until a later period. After the Office of Chief Accountant advised Diebold regarding its "bill and hold" method, Diebold has adopted a new accounting method and will immediately recognize revenue at the same time a product is delivered to its customers. Diebold began eliminating jobs in 4Q07, when 100 employees received pink slips. Diebold's 2007 revenue is estimated at $2.95 billion, up from an estimated $2.93 billion in 2006. Diebold will restate financial results for 2003-2006 and the first quarter of 2007. As U.S. banks scale back on branch construction and deployment of ATMs due to major write downs in 2007 and more expected in 2008, Diebold is feeling the crunch and plans to scale back its strategic plans for 2008.

Kamala WorthingtonPresidentKW Marketing Consultant

FDIC Suggests Banks Should Be Regulated Over High ATM Surcharge Fees

February 12, 2008

Analysis of:ATM Fees Need Harder Look: FDIC's Bair | www.reuters.com

From 1969-1996 ATMs were owned exclusively by banks and in 1996, the major networks Plus and Cirrus lifted their ban on surcharging and since that time three trends have emerged: 1. banks began "double dipping," charging a surcharge fee for non-customers and charging their own customers' a "foreign fee" when they used another bank's ATM to access their cash, 2. the ATM deployment boom began and ATMs were deployed in retail locations to support the franchise and "for-profit" ATMs were deployed outside the footprint to gain surcharge revenue and 3. the lifting of the surcharge ban opened the door for ISOs (Independent Sales Organizations) to enter the ATM industry to deploy ATMs "off-premise," at locations such as 7-11, Circle-K and numerous other retail locations by deployers such as Cardtronics, TRM and others. ISOs also gained leverage because they could charge a surcharge fee for every transaction and from every customer because they have no cardholders of their own to service.

Remittance services are key to bank growth and survival

February 11, 2008

Analysis by: GLG Expert Contributor

Analysis of:Citi Launches New QuikRemit Service | www.citigroup.com

Citigroup (NYSE: C) seems to understand the importance of adjusting to the ever changing consumer and corporate base that wants to send money “home” in a secure, efficient manner.  Their growth through acquisition of remittance service companies and helps to create a solid hold as a leader in the service.  With the continued influx of foreign nationals and corporations to the United States, this business will only grow and will create more brand loyalty. 

Art GillisPresidentComputer Based Solutions, Inc.

The sky might be falling, but IT companies are protected

February 5, 2008

Analysis of:Acopia Capital Group Utilizes OpenClose as Backbone for New Company | www.businesswire.com

Three conditions affecting the banking business seem quite real and have already become visible in the form of poor earnings reports from the giants  -  losses in investment banking, the credit crunch and subprime mortgages.  So it’s natural to look to the left and right for other industries that might be affected.  Of course, IT is a likely candidate for losses because as bank profitability goes, so goes IT investment.  Maybe.

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