Austin Logistics Announces New CEO and New Growth Capital
Leading Provider of Decision Support Solutions Well Positioned for Growth
Austin, TX - Austin Logistics Incorporated today announced that John Carreker III has been appointed to serve as the company's Chief Executive Officer. Today's announcement marks the culmination of a succession plan in which Daniel Duncan, the company's founder, will continue to serve on the board of directors and in an active advisory capacity.
Mr. Carreker brings more than 20 years of leadership and success in the global financial services sector spanning technology, consulting, operations and payments. He joins Austin Logistics from Carreker Corporation where he served as the Executive Vice President and Managing Director of International Operations and most recently as the President of the Global Payments Technologies business. As a member of the executive committee his leadership helped drive the company to over $120 million in revenue prior to Carreker Corporation's sale to Checkfree Corporation in 2007.
"John's background and depth of experience in leading software and service organizations through multiple phases of growth will serve as a tremendous asset to Austin Logistics and our clients as we take our company to the next level," said Warren Wilcox, Austin Logistics' Chairman and the Executive Vice President and Head of Client Consulting at Visa Inc.
To further position Austin Logistics for continued success, the company secured commitments to provide its third round of growth capital from its existing institutional investors including Baird Venture Partners, Apex Venture Partners, Total Technology Ventures and North Hill Ventures. "This financing will enable Austin Logistics to accelerate its progress at a time when market demand for innovative consumer credit management solutions is very strong," said Benedict Rocchio, Baird Venture Partners.
"I am thrilled to join an organization with such a deep culture and commitment to client satisfaction and strong domain knowledge in the analytics space," said Mr. Carreker, "I'm truly excited to lead Austin Logistics into this next chapter of successful and aggressive growth."
link to this news item
Higher One Expands Service Offering at Client Campuses to Include Accepting Incoming Payments
Value Added Service to Further Streamline Campus Business Office
New Haven, CT - Higher One, a financial services and payment company focused exclusively on higher education, announced today that it has expanded the company's service offering to include the collection of incoming tuition and fee payments.
The new service, known as OnePay, is currently being used by three Higher One clients to accept electronic payments from students, parents, and other family members.
With OnePay individuals who want to make payments are given three ways to deliver money to the institution; credit card (American Express, Discover, and MasterCard), e-check/ACH from any existing bank account, or a transfer from Higher One marketed OneAccount, a no minimum balance, no monthly fee, FDIC-Insured checking account.
"The simplest function should be incoming funds. Students and their families were asking about web check because debit cards usually have limits on them," explained Patricia Noren, Director of Student Financial Services and Bursar at Dowling College on Long Island. "OnePay came along and it was simple both for us to get up and running and for our customers to navigate."
OnePay was designed to increase choice for the individual making the payment to the student and save the institution money. It accomplishes the latter by decreasing the amount of paperwork and customer service inquiries in the business office. Additionally the institution will avoid the significant expense of interchange fees by implementing the convenience fee model.
With OnePay, colleges and universities receive the same support they currently receive from Higher One with OneDisburse Refund Management, a service that streamlines the refund distribution process at institutions of higher education. This means that Higher One markets the program and educates students on how to take advantage of the service, handles any exceptions or returns, assumes responsibility for the security of any sensitive information, and provides customer support for both administrators and the individuals making payments.
"Students and parents can now make payments online when they find it convenient to do so," said Richard Jacobs, Director of Student Accounts at Flagler College in St. Augustine, Florida. "OnePay is fast and easy to turn on and greatly improves our cashiers' experience while providing the desired level of service to our students and their parents."
Implementation of the new service requires no special IT projects and can be completed within a few days.
"Implementation was extremely fast. IT was not involved," said Noren. "Higher One completed most of the work."
Initial adoption for OnePay has been good on the campuses that have implemented the new service.
"OnePay has performed to our satisfaction. We have received no complaints from the users," stated Noren. "OnePay allows the parent, grandparent or spouse to pay without having to login to our website with the student's login and password. All they need is the student's identification number and the payment will go to that account."
Higher One currently serves over 175 institutions of higher education across the country with its OneDisburse Refund Management service.
More information on OnePay can be found here.
About Higher One:
Founded in 2000, Higher One provides higher education institutions and their students with efficient, convenient and easy-to-use solutions to handle financial disbursements. These include: student refunds, on-campus and community purchases, payroll and employee expenses, as well as the collection of payments from students, parents, and sponsors.
Higher One offers a suite of online banking services including the OneAccount, an FDIC-insured checking account, and OneCard, a Debit MasterCard(R). To date, Higher One has disbursed over $4 billion dollars in refunds for its clients to more than 1,000,000 students, faculty, and staff at distinguished public and private higher education institutions throughout the country.
Higher One recently ranked # 85 on the 2007 Inc. List of the 500 Fastest Growing Companies in the United States. Higher One is based in New Haven, CT.
link to this news item
The Banker Awards Tervela with Innovative Technology Project of the Year
Tervela Recognized for Transforming Options Market Making Business
NEW YORK - Tervela, the leading provider of high-performance, low-latency messaging systems, today announced that The Banker has awarded the company with an "Innovative Technology Project of the Year" win in the category of wholesale and capital markets. The award was presented at a gala event in London.
"The Banker Technology Awards, now in their sixth year, seek to identify and celebrate excellence and innovation in all areas of banking technology," said Brian Caplen, Editor at The Banker. "Tervela was selected from over 300 entries worldwide for their innovation and ability to transform the options market making business."
Recognizing technology excellence, The Banker awards highlight the innovations and critical trends financial services firms need to stay ahead in today's ever-demanding marketplace. These highly-respected industry awards are judged by a panel of international financial services experts including analysts, editors, end users and luminaries in the field.
"Being acknowledged by a publication in the prestigious Financial Times family is a great honor," said Bob Cramer, CEO at Tervela. "We are proud to be helping our customers gain a competitive edge by transforming the way options market making is done. Improving the efficiencies in the trading process requires a fundamental change in how inherent architectural deficiencies of legacy messaging infrastructure are addressed. Tervela accomplishes this through our next-generation message network platform."
Tervela received the innovation award for enabling a global investment bank to seamlessly overcome the challenges of handling ever-increasing amounts of time-sensitive market data and processing trades while maintaining business continuity. The customer, one of the world's leading options market makers, needed a fail-safe way to process high volumes of options data and sustain continuous message processing during frequent periods of volatility. With Tervela, they were able to stay ahead of the market by accelerating transactions and eliminating critical data loss.
Tervela brought a new level of service and performance to the customer's options market making business, allowing the investment bank to sustain a competitive edge in the financial services marketplace. By using a pair of fault-tolerant Tervela TMX Message Switches(TM) alongside a Tervela TPM Provisioning & Management System(TM), the customer was able to effortlessly handle increasing options data volumes with sub-100 microsecond latency.
Tervela recently announced version 3.0 of its messaging solution, which introduced the Tervela Message Network(TM) platform. The platform includes new product lines for high-performance messaging, persistence and common extensible application services.About Tervela
Founded in 2004, Tervela delivers the next-generation communications infrastructure - the Message Network - designed and engineered to exceed the information dissemination and processing requirements of the world's most demanding financial services institutions. Addressing the challenges of market volume, volatility and visibility, Tervela invented the message switch to enable investment banks, hedge funds, exchanges and other data-intensive organizations to deliver consistent, outstanding and predictable performance - even in the most demanding market conditions. The company is funded by Goldman Sachs, Sigma Partners, Acartha Group and North Hill Ventures. For more information, please visit www.tervela.com.
link to this news item
OpenPages Cited as a Leader in OpRisk and Compliance's Annual Compliance Software Survey 2008
Berkshire, UK. - OpenPages(R), a leading provider of enterprise GRC management solutions that optimise business performance, today announced that it achieved overall leading rankings within OpRisk & Compliance magazine's annual Compliance Software Survey 2008. OpenPages increased its position in Compliance Monitoring and Control, GRC, and Regulatory Reporting and ranked consistently in first position for Sarbanes-Oxley for the second year running.
OpRisk & Compliance's annual survey results were compiled from over 200 senior level executives across Europe ranked according to the top five firms. The survey consisted of eight categories, four of which relevant to OpenPages' product offering. OpenPages either increased or maintained ground on the previous year's results in each category. In Sarbanes-Oxley Software OpenPages ranked first with 14 per cent, increasing its percentage by four per cent on 2007. In GRC Software OpenPages was positioned in second place with 17 per cent, entering the top five ranking for the first time. For Compliance Monitoring and Control Software OpenPages ranked second with 17 per cent in the new category and for Regulatory Reporting OpenPages were again positioned second with 15 per cent, increasing two places on the previous year.
"We are extremely pleased to have significantly improved our overall rankings in the Compliance Survey 2008 over last year's results - clearly indicating an increase in OpenPages' global visibility as an enterprise-wide GRC solutions provider." said Michael J. Duffy, president and CEO of OpenPages. "As companies move toward a more holistic approach to GRC, we will continue to deliver solutions to address new initiatives under the GRC umbrella. We look forward to continuing the momentum into next year."
David Benyon, OpRisk and Compliance, said, "OpenPages has maintained a strong position in this year's survey, leading a highly competitive field in Sarbanes Oxley (SOX) software, in addition to performing well in other key categories, including GRC."About OpenPages
OpenPages(R) is the leading provider of enterprise risk management solutions that optimize business performance. OpenPages empowers the world's largest companies by unifying governance, risk and compliance across the enterprise and by incorporating risk management into day-to-day business processes. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in Japan and the United Kingdom, and regional offices throughout North America.
For questions or for more information on OpenPages' enterprise risk management solutions, please click here or call us at 781.693.5999.
link to this news item