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Products and Services briefs (12/21/2007)

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* JACKSONVILLE, Fla. (12/26/07)--Fidelity National Information Services Inc. (FIS) announced that BB&T Bankcard Corp.’s 1.1 million credit card accounts have been converted to the FIS platform. FIS is processing all transactions for credit cards issued by BB&T Bankcard Corp. The conversion project took 10 months. FIS is a core processing provider for financial institutions, including credit unions… * MINNEAPOLIS (12/26/07)--The Credit Union Loan Source has selected Daybreak Lending Suite as its loan servicing and collections platform. The servicing and collection modules of Daybreak will be deployed in an action server pages (ASP) environment. The Credit Union Loan Source will access the system from a production office. Daybreak is a consumer lending system that automates all aspects of financing--from origination to servicing and collections. The Credit Union Loan Source is a credit union service organization owned by several Georgia credit unions and credit union organizations … * MURRIETA, Calif. (12/26/07)--CUTEK, a financial technology consulting firm for credit unions using Symitar’s Episys core processing system, has contracted to implement its wire transfer form solution at Keesler FCU in Biloxi, Miss. Keesler will deploy the process by Feb. 1. The wire transfer form automates the funding process by filling out the wire form electronically, and the Symitar Episys system forwards the transfer data from the teller to the credit union’s manager and accounting department. When the process is complete, funds are transferred while wire transfer fees are processed by the credit union. The form also is tied to the Office of Foreign Assets Control to confirm that the recipient’s and sender’s information is not restricted … * ARVADA, Colo. (12/26/07)--Credit Union Service Network recently hired Meghan K. Green as its new marketing consultant. Green will develop and manage the marketing program, including public relations, website enhancements and consumer outreach programs. Green worked as a marketing representative for Public Service CU in Denver and as the marketing director at US Alliance CU in Denver … * ARVADA, Colo. (12/26/07)--Credit Union Service Network (CUSN) announced that it has added Union Pacific Streamliner FCU in Omaha, Neb., to its shared-branching network. Union Pacific joined the network as an issuer, meaning that its members can use any CUSN center nationwide. CUSN also announced that four new service centers opened in November, and two credit unions that had participated in the CUSN shared branching as issuers had welcomed guest members for the first time in November. Members FCU in Montrose, Colo., opened one branch for guest members, and St. Vrain Valley CU in Longmont, Colo., opened two branches for guest members. Through shared branching at CUSN, credit union members have access to 2,900 service centers nationwide …

Diebold continues discussion with SECs chief accountant

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NORTH CANTON, Ohio (12/26/07)--Diebold Inc., an ATM manufacturer, is continueing discussion with the Securities and Exchange Commission (SEC) about the company’s discontinued practice of recognizing certain revenue on a “bill and hold” basis. “Bill and hold” refers to ownership of a product that contractually passes to the customer and revenue is recognized by the supplier prior to delivery of the products to the customer. Changes in the company’s bill and hold revenue recognition practice would affect the timing of recognition of certain revenue. However, Diebold does not anticipate that the change in timing would impact previously reported cash provided by operating activities or the company’s net cash position, the company stated in a press release. Diebold is continuing its dialogue with SEC’s Office of the Chief Accountant so it can determine the most appropriate revenue recognition method to replace its bill and hold practice. It will provide further information once guidance is received. Diebold also will provide revenue estimates for 2007.