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2013 Press Archive

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September 24, 2013
Enacomm Helps Banking Up Meet Goal of Reducing Financial Anxiety for Customers

Banking Up, a personal finance platform that lets banks and businesses provide customers with a smart, mobile alternative to traditional checking accounts, today announced that it has enlisted the help of Enacomm, Inc., a leading provider of voice processing infrastructure, applications and services that optimize customer call interactions, to deploy a hosted, self-service interactive voice response (IVR) solution. Enacomm’s analytics software allows Banking Up’s internal database to be utilized to create intelligent interactions, optimizing the customer call experience.

Enabled by Enacomm, Banking Up will employ an adaptive decisioning engine driven by real-time access to customer data to engage patrons with unique, personalized exchanges. These intelligent interactions differentiate Banking Up from other banking and financial service providers with every call.

"When our customers call the phone number on the back of their payment card, their level of financial anxiety is usually pretty high; we want to guide them quickly to the right answer and make sure that they finish the call reassured,”ted Patrice Peyret, CEO of Banking Up. “Enacomm's technology and support allows us to design the call flows we need, monitor their effectiveness, and make changes rapidly when necessary."

Quickly and easily giving customers the information they are seeking helps to keep them satisfied and at ease, increasing loyalty with every interaction. The partnership between Banking Up and Enacomm is targeted at enhancing the quality of service and information exchanged.

“Personalized content in the IVR makes channel containment more effective, often eliminating the need to connect with an agent,” explained Enacomm Founder and CEO Michael Boukadakis. “Contacts handled with automation are as little as a tenth of the cost of agent-handled calls!”

Boukadakis added, “Banking Up’s goal is to provide financial inclusion and stability, putting customers first, and Enacomm is focused on developing advanced technology solutions that not only streamline operations, but that improve the customer experience – it’s a perfect partnership.”

Across industries, combining real-time data analytics with a flexible dynamic decisioning engine can help organizations increase revenues, cut costs and improve customer loyalty and retention. To find out how Enacomm can help your company improve your bottom line while better serving customers, go to www.enacomm.net.

About Enacomm
Enacomm is a leading provider of voice processing infrastructure, applications and services that optimize customer call interactions. It is part of a group of specialized companies focused on interactive voice and customer service solutions that, since 1986, has helped clients deploy customer self-service and assisted-service solutions that rapidly intake, automate and process high numbers of spoken, data or touch-tone requests. As a frontrunner in interactive voice response (IVR) technology, Enacomm’s customer base is made up of Fortune 50 to Fortune 2000 companies concentrated in the Prepaid/Cash Card, Financial, Health Care and Utilities industries. Enacomm solutions are designed to be flexible, configurable, cost-effective, and can be delivered as hosted services, on-premise customer deployments, or through “on-demand” cloud-based technologies. Enacomm has deployed more than 800 systems and processes more than 1,000,000 conversations and automated transactions every day.

June 24, 2013
Banking Up To Demo New Prepaid Platform for Businesses at the NBPCA Power of Prepaid Event

Banking Up will demonstrate its new platform for enabling businesses and financial institutions to deliver better banking and payment services to all consumers at the Network Branded Prepaid Card Association (NBPCA) Power of Prepaid event June 26 - 28 in Washington D.C.

The Power of Prepaid event is where industry executives, policy-makers and influencers gather for content, connections and impact. The event had its debut in 2012. The 2013 event will build upon the successes of the inaugural year, and will include presenters from Capitol Hill, targeted breakout presentations, panel discussions and workshops.

Banking Up is a personal finance platform that lets banks and businesses provide customers with a smart, mobile alternative to traditional checking accounts. It includes best-in-class prepaid card accounts that businesses can brand as their own. It incorporates the customer relationship management tools to enroll customers, engage them with email, mobile alerts and loyalty programs and enhance their experience based on real-time analytics and reporting. It seamlessly integrates with the card networks, processors, issuing banks and the electronic payment networks that power the cards.

"Banking Up lets financial institutions serve more customers at a lower operating cost while delivering the same functionality as a demand deposit account," said Patrice Peyret, CEO of Banking Up. "We're excited to participate in the Power of Prepaid event to share and gain insights critical to managing a prepaid business in 2013."

About the NBPCA
The Network Branded Prepaid Card Association (NBPCA) is a non-profit, inter-industry trade association that supports the growth and success of network branded prepaid debit cards and represents the common interests of the many players in this new and rapidly growing payments category. For additional information visit www.NBPCA.org or follow the NBPCA on Twitter.

June 2, 2013
Banking Up CEO Joins Panel Discussion on the Future of Mobile Remote Deposit Capture at the Underbanked Financial Services Forum in Miami June 5 - 7

Photo check deposit, or Mobile Remote Deposit Capture (mRDC) as it is called in the financial services industry, can be a game-changer for people who aren't well served by traditional banking, says Banking Up CEO Patrice Peyret, who will join a related panel discussion at the 8th Annual Underbanked Financial Services Forum, June 5 - 7 in Miami.

The addition of photo check deposit to prepaid card accounts plugs the gap between prepaid and traditional checking accounts, making prepaid an even more viable alternative. Many prepaid accounts support direct deposit of paychecks, but often people are paid with paper checks. If they don't have a checking account, they need to turn to check-cashing services. Now prepaid accounts with photo check deposits fully opens the market to serve these customers.

Photo check deposit isn't a matter of convenience. 91% of the underbanked have mobile phones and smartphones, according to the FDIC. And many work in service jobs such as construction or child care where they don't have ready access to computers or bank branches.

New features that can make the funds available immediately for a fee, or for free after the check clears, go beyond traditional checking to let the consumer choose between speed or price, and providing them with an affordable alternative to check-cashing services either way.

Joshua Sledge, manager of nonprofit investments for the Center for Financial Services Innovation will moderate the panel Thursday June 6 from 11am to 12 pm. Drew Edwards, CEO of Chexar Networks, Lisa McFarland, head of consumer prepaid products at Visa, and Peyret will round out the discussion on mRDC's potential and how it stands to impact business and consumers.

"People whose employers don't offer direct deposit probably have avoided prepaid accounts. We consider mRDC as a new motivator to replace checking accounts with more affordable prepaid accounts or to get banked if they don't currently have a checking account. Its availability will be a driver in the acquisition of new customers," Peyret said in a preview of the panel discussion.

The Underbanked Financial Services Forum is co-sponsored by the Center for Financial Services Innovation and SourceMedia, publisher of American Banker. It is a national event focused on serving the financially underserved.

May 15, 2013
Banking Up launches at FinovateSpring today a first-of-its-kind personal finance platform that lets banks and businesses provide customers with a smart, mobile alternative to traditional checking accounts.

Along with the launch, Plastyc Inc., which developed Banking Up, announced that it is now doing business as Banking Up.

Over 24 million households have poor access to mainstream banking, and 91percent have mobile phones and smartphones, according to the FDIC. Banking Up gives banks and businesses a scalable way to provide customers in their local communities with an affordable, high-quality banking option.

Banking Up is committed to helping mid-to-large size businesses that serve local communities offer customers accounts that they can trust, regardless of their income, age or bankability," said Patrice Peyret, CEO of Banking Up.

Banking Up provides a complete, private-label service that businesses can brand as their own. Customers benefit from FDIC insured accounts and fully mobile banking on iPhones, Android phones, non-smart phones and the web. The accounts include online check-writing, bill paying, direct deposits, photo check deposits, automated savings and more. The accounts can include a Visa or MasterCard card accepted everywhere debit cards are accepted, and eligible businesses offering the service can earn up to 50 percent of the interchange fee for qualified accounts. Or, the platform can extend current card programs for banks that already issue their own prepaid cards.

Banking Up makes it easy and cost-effective to reach more customers with a trusted financial service. It includes customer relationship management tools to enroll customers, engage them with email, mobile alerts and loyalty programs and enhance their experience based on real-time analytics and reporting.

The platform also includes the back-end links with the card networks, processors, the issuing banks and the electronic payment network that enables direct deposit of payroll, social security and other government benefits and tax refunds. Banking Up's customer care handles all account inquiries through online help and US-based live agents.

Although Banking Up is a new product for banks and businesses, the platform already has supported over $2.2 billion of transactions servicing consumer products such as H&R Block's Emerald MasterCard Prepaid Card and the UPside Visa Prepaid Card, a multi-time winner of the Paybefore Awards.

"It's time to take banking in the 21st century. Banking Up makes banking truly mobile and reduces the barriers to access by helping people find quality financial services right where they do their daily business," said Mike Harris, managing director of Core Venture Capital, a Los-Angeles based fund that invests in the most innovative companies serving underbanked consumers in America.

APRIL 23, 2013
Plastyc CEO Patrice Peyret to Launch Smart, Mobile Banking Platform for Consumer Businesses at FinovateSpring

It's not easy to pay mobile phone bills with cash. Yet, 24 million households are under-banked and 91% of the underbanked have mobile phones and smart phones, according to the FDIC. With numbers like these, it makes sense for consumer businesses such as mobile carriers to help customers bank up, says Plastyc CEO Patrice Peyret. At FinovateSpring 2013 in San Francisco, Peyret will demo a new banking service platform and discuss practical insights for consumer businesses that want to provide smart, simple banking services to their customers

"Finovate showcases the biggest innovations in financial technology,” said Peyret. "We are excited to offer over 1,000 attendees a closer look at our new offering for consumer businesses who want to offer their customers a branded, smart, mobile banking option."

As part of the demo, Peyret will share insights on how to offer consumers cost-effective financial services that are fully mobile, available to all regardless of income, age or bankability and that provide a full range of capabilities to address the needs of the underbanked. And he will show simple ways to use data to trigger communications with consumers through mobile alerts based on real-time behavior.

"The goal is to let businesses help all their customers participate fully in the digital economy. For businesses, the upside includes customers with more predictable ways to pay and better channels for direct communication to improve service and loyalty," Peyret said.

Peyret is scheduled to demo on Wednesday, May 15, 2:45 p.m. PDT at the San Francisco Design Center Concourse, 635 8th Street, San Francisco.

About FinovateSpring:
FinovateSpring is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Held in San Francisco, the event offers an insight-packed glimpse of the future of money via a fast-paced, intimate and unique format. FinovateSpring is organized by The Finovate Group. For more information on the event or to view videos of previous demos, please visit .


Access Funds Now or Later with Plastyc Mobile Check Deposit, Powered by Chexar

Plastyc, the mobile and online alternative to traditional banking, is rolling out a new kind of mobile check deposit that lets customers access funds right away for a fee or wait until the check clears to access the funds at no cost.

Known in the industry as Remote Deposit Capture (RDC), the service, powered by Chexar® Network, Inc. and its Spyke network, lets consumers snap a photo of a paper check to deposit it to their Visa prepaid card accounts.

Unlike existing mobile deposit services offered by banks, which typically make customers wait several days for checks to clear before crediting their accounts, Plastyc gives customers a choice. Customers can:

  • get the funds crediting right away for a fee: one percent for printed payroll and government checks or four percent for any other type of check including personal checks
  • Or, they choose delayed access, which loads the funds onto the card for free provided the check has not been returned to the network after five business days.

Also new, is the $2,500 maximum amount of checks, which is significantly higher than other mobile deposit services.

The ability to deposit scanned paper checks provides Plastyc customers with everything they need in an alternative to traditional checking accounts. In addition, the option of accessing funds right away provides a more convenient and cost-effective alternative to using a check-cashing store for people who can't wait.

"Our mission is to provide customers with the newest and most convenient, cost-effective and secure options for managing their finances. With our mobile direct deposit, customers can pick the speed and fee options that best meets their needs," said Patrice Peyret, CEO of Plastyc.

As part of its mobile check deposit rollout, Plastyc is participating in the Consumer Financial Protection Bureau's Project Catalyst, a research initiative designed to encourage consumer-friendly innovation and entrepreneurship in markets for consumer financial products and services.

Plastyc's mobile check deposit capabilities will be available to customers of all cards powered by the Plastyc platform, including Plastyc's UPside and iBankUP services. The rollout is starting with test customers using Plastyc's Android and iOS apps prior to full availability to the entire cardholder base.


Plastyc Leverages the Green Dot® Network and Walmart’s Rapid Reload Service to Allow Cardholders to Cash Checks and Load Funds to Their UPside Visa® Prepaid Cards

Plastyc announced that effective immediately, via the Green Dot Network, cardholders can now cash checks and load funds to their UPside Prepaid Cards using the Rapid Reload Service available in more than 3,900 Walmart stores.

UPside customers can cash a pre-printed payroll, government or tax refund check and load all or part of the cash directly to the UPside card from the convenience of any register at a participating Walmart (not available in NJ, NY, RI, VT, WY). The cashier will cash the check (check cashing fees apply) and swipe the card to add all or part of the amount directly to the card. Cardmembers can load all or part of a check, up to $1,000, and the funds are available on the card within minutes. A Rapid Reload fee of $3.74 applies.

With this new method, UPside cardholders have three convenient ways to reload their cards via the Green Dot Network:

  1. Rapid Reload with cash by taking the UPside card and cash to any Walmart register (not available in VT or WY). The cashier will swipe the card and the cash is added directly to the card. The funds are available on the card within minutes. A Rapid Reload fee of $3.74 applies.
  2. Rapid Reload by cashing a check (not available in NJ, NY or RI; check cashing fees apply) and loading the funds at participating locations. A Rapid Reload fee of $3.74 applies
  3. Reload with a Green Dot MoneyPak® by purchasing a MoneyPak from a neighborhood retailer, in any one of more than 60,000 retailer locations nationwide, and logging into their UPside Card online account or through the UPside Mobile App, which is a unique feature for UPside cardholders. A service fee of up to $4.95 applies.

"Consumers are demanding more functionality from their prepaid card accounts, including total flexibility in how they load funds,” said Patrice Peyret, CEO of Plastyc. “As market leaders in providing full-featured prepaid accounts, Plastyc is excited to deliver these card loading enhancements to cardholders.”

After loading funds, UPside cardholders can immediately use the deposited cash to pay bills online, shop anywhere Visa is accepted, withdraw cash from an ATM or receive cash-back from the grocery store, top off prepaid cell phone minutes, even issue paper checks from their mobile or online account.

Learn more about Rapid Reload


Plastyc Powers Online Banking and Payments Services for H&R Block Emerald Prepaid Mastercard© and Launches New White-label Service

Plastyc announced today a new Powered by Plastyc platform to help banks, payroll companies, wireless carriers and other businesses offer their customers full-featured, branded prepaid card services.

Working with H&R Block, the nation’s largest tax preparation company, Plastyc powers the company’s Emerald Online, the H&R Block Emerald Prepaid Mastercard©, online interface which enables cardholders to easily perform the following tasks and more:

  • Access transaction history and balance and print statements
  • Sign up for text and email alerts
  • Add prepaid minutes to their cell phone and pay bills
  • Manage cash-back reward offers

The online services, which launched nationwide in November 2012, also enable H&R Block to engage cardholders with customized offers and messages such as targeted cash back rewards from select retailers or invitations to other financial services such as savings accounts offered by H&R Block.

Plastyc has proven experience providing dynamic online and mobile user experiences and functionality not available elsewhere in the prepaid card industry.

"We want our cardholders to have a best-in-class online banking experience. Plastyc is a leader and innovator. Combining that experience and innovation with Emerald Card creates a world-class program for our clients, " said Susan Ehrlich, president of H&R Block financial services.

The Powered by Plastyc program is built on Plastyc's experience delivering award-winning, high value prepaid card services to working adults as well as students striving to improve or establish their financial standing. It helps businesses improve their existing branded prepaid card services or quickly deliver a best-in-class new prepaid card program using a proven, turnkey platform

"Offering customers truly superior prepaid banking options can create a more direct relationship between customers and service providers, and giving both a stronger sense of loyalty and trust," said Patrice Peyret, CEO of Plastyc. "Prepaid card programs powered by Plastyc provide the best consumer value in the industry."