North America Bytes

Citibank starts Virtual Account Numbers; Honda Federal Credit Union to use Mosaic's ATM software; Merchants Bank selects Mitek's check imaging system; First Federal Savings of Wisconsin first to install Opima3 image processing system from WFS.

In order to ensure a secure online payment with a customer's credit card, Citibank has created the Virtual Account Numbers program.

The program allows for a client's true credit card number to be stored with Citibank while a random substitute account number is created for online purchases, not allowing for the customer's true credit card number to be given out to retailers.

The Virtual Account Numbers payment software can be downloaded for free at www.citicards.com after the customer with a Citibank credit card assigns themselves a user name and password. When making an online purchase, the customer enters their user name and password into the software to generate the random credit card number that can only be used once. The retailer recognizes the substitute credit card number as a real one so the customer can be approved just as if they were using their real credit card number.

"This new security technology is just the latest offering in Citibank's ongoing effort to protect our cardmembers against fraud," said Amy Radin, director, e-business Citi Cards. "Virtual Account Numbers is an invaluable benefit to our customers. Consumers gain peace of mind knowing that their personal credit card information never travels on the Internet. For online retailers, who generally bear the financial liability for fraudulent purchases, reduced online fraud equates to a better bottom line."

Orbiscom, a provider of online payment solutions for financial institutions, helped to develop this program that relies on existing credit card processing system and therefore does not require retailers to make infrastructure changes. The technology can be used both online and any purchases in which the physical credit card does not need to be present.

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Honda Federal Credit Union, Torrance, Calif., has announced that it will be using Mosaic's Postilion software product to provide in-house ATM driving and transaction switching and routing for Honda's network of ATMs.

The EFT Postilion software will be used to handle all ATM transaction processing and management functions as well as provide an open architecture for easy implementation of new products for delivery through ATMs. The system also will interface to their Symitar host system for on-us transaction processing and route foreign transactions directly to the CO-OP Network, the largest credit union ATM network. Postilion will be operated on a Stratus ftServer 3200 series system.

"The primary factor in our selection of Mosaic's Postilion software was its non-proprietary, open architecture," noted James E. Updike, president and CEO, Honda Federal Credit Union. "We don't offer cash in our branches, so our ATM network is fundamental to providing excellent member service. As a result, our ATM network is growing fast, and we need systems that will support the continued development of that network and its capabilities. Honda Federal Credit Union has been expanding its ATM network into communities where its members live."

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Minnesota-based Merchants Financial Group Inc, a holding company for Merchants Bank, has purchased Mitek's CheckQuest check imagining system that will allow Merchants to capture and process information from checks.

The Financial Group expects that the system will provide greater labor savings and a shorter processing window for the company. CheckQuest's services also include forms processing and document identification capabilities without requiring a Magnetic Ink Character Recognition (MICR) line or forms redesign.

"Merchants is a very customer focused organization. We believe the CheckQuest solution will allow us to make operational improvements that will ultimately result in a higher level of service for our customers," said Robert D. Sparrow, senior vice president/CIO of Merchants Financial Group. "Mitek presented us with a solution that is flexible and designed to fit our needs extremely well."

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First Federal Savings of La Crosse, Wisc., has been the first to install Wasau's Financial Systems (WFS) newest image transaction processing solution, Optima3.

The Optima3 program provides banks with the tools for scalable check imaging, archive solutions as well as image capture, reject re-entry, enhanced sort pattern generator, convenient bulk filing and thorough analytical tools.

"Wausau's Optima3 solution is phenomenal," said Peggy Mechtel, assistant vice president for First Federal. "The Solution Portal enhances operator navigation and workflow by eliminating the task of hunting for work to complete. The Portal is refreshed automatically so operators are made aware that additional work is ready for completion as soon as it is captured. Our operation processing time has decreased because of choosing Optima3."