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About | Press Releases

Challenges with EMV® Implementation – Routing to the U.S. Common Debit AIDs

Virginia Community Bankers Endorse SHAZAM for Debit and ATM

SHAZAM's Christensen chosen as NACHA Board Member

Independent Community Bankers Association of New Mexico Chooses SHAZAM as Preferred Provider

The SHAZAM Network Names Paul Waltz as CEO

Patrick Dix Joins SHAZAM Network as PR Manager

The SHAZAM Network Adds Person-to-Person Payments to SHAZAMBOLT$ Mobile App

The SHAZAM Network Brand Evolves to Better Reflect Diversified Products

Community Bankers of Wisconsin Endorses the SHAZAM Network

The SHAZAM Network Announces New President and COO

The SHAZAM Network Prepares for EMV with MasterCard Common Debit Solution

BancServ, Inc. Endorses the SHAZAM Network for the Florida Banker's Association

The SHAZAM Network and Visa Reach EMV Agreement to Enable Choice at ATM & POS

 

Virginia Community Bankers Endorse SHAZAM for Debit and ATM

Tuesday, February 16, 2016

DES MOINES, IA — The Virginia Association of Community Banks (VACB) has endorsed the SHAZAM Network as its preferred service provider of ATM and debit card processing for its member banks.

This is the first VACB endorsement of an ATM and debit card processor for their members.

"We're proud of the fact that VACB has chosen SHAZAM as its preferred partner moving forward," said SHAZAM President and CEO Paul Waltz. "Creating this partnership with VACB ensures their members have the choice and flexibility Virginia's community banks deserve and expect."

Jim Ghiglieri, SHAZAM senior vice president of relationship development, worked closely with VACB to come to an agreement. Ghiglieri, a former community banker and former chairman of the Independent Community Bankers of America (ICBA) said the new partnership with VACB opens up unlimited possibilities for SHAZAM's relationships in the state.

"This endorsement is the result of a year of very productive conversations about how SHAZAM can partner with VACB to benefit its members," Ghiglieri said. "We look forward to opening access to competitive products and providing a level of personal service that SHAZAM's built its reputation on."

Steve Yeakel, VACB's President and CEO, said their board chose to endorse SHAZAM because of its legacy of leadership in the EFT industry.

"VACB endorsements really focus on those products and services that will make Virginia's community banks more profitable, and give them a competitive advantage," Yeakel said. "SHAZAM's ATM and debit card processing services provide both the innovation and the dependability our member institutions deserve."

"SHAZAM's emphasis on serving and strengthening community banks fits well with VACB's mission," said Mike Ewing, 2016 VACB Chairman. "The future and power of community banks is in collaboration: by combining our influence and expertise, we remain a strong voice for our communities. SHAZAM's member-controlled structure will help to keep our community banks competitive. That makes their network a natural fit for VACB."

About VACB
The Virginia Association of Community Banks provides its members with uncompromised advocacy, targeted education and quality collaboration, serving nearly 80 banks across the Commonwealth of Virginia, for the benefit of their shareholders, employees, customers and the communities they serve.

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SHAZAM's Christensen chosen as NACHA Board Member

Tuesday, November 3, 2015

DES MOINES, IA — The National Automated Clearing House Association (NACHA) announced SHAZAM’s vice president of risk and financial services, Kevin Christensen, has been elected to the NACHA board of directors. The board of directors oversees the governance and administration of NACHA in its capacity as industry trade association and ACH Network administrator. To this end, the board provides guidance and addresses issues of strategic significance to the ACH Network and the national association. 

"I’m proud to represent the community financial institutions in SHAZAM’s Regional Payments Association and hundreds more like them across the country on the NACHA board," Christensen said. "It’s important that the voice of main street financial institutions is represented when strategic decisions are made about the future of ACH."

Christensen brings a broad range of experience to his seat on the NACHA board. At SHAZAM, Christensen’s responsibilities include ensuring the network’s compliance with federal and state regulations, card brand operating rules and Payment Card Industry (PCI) standards. His risk services team works with financial institutions and merchants to provide a variety of audit, compliance, security and sponsorship services to minimize risk.

"As the NACHA board of directors continues to help shape the future of the payment system in general and specifically the ACH payment system, Kevin will provide a critical voice for community financial institutions," said SHAZAM president and CEO, Paul Waltz. "As technology surrounding payments advances, Kevin’s experience will ensure NACHA policies and rules continue to reflect a commitment to fair and open access to payments and the ACH system."

Christensen joined SHAZAM in 2004 as the senior internal audit manager and became the vice president of audit in 2008, transitioning to his current role in 2015. Prior to joining SHAZAM, Christensen worked as a bank examiner for the Federal Deposit Insurance Corp. (FDIC) for 10 years. Christensen led more than 150 IT examinations at a wide range of financial institutions.

Christensen has earned the Certified Information Systems Auditor (CISA) and Certified in Risk and Information Systems Control (CRISC) designations and is a member of the Information Systems Audit and Control Association (ISACA).

Christensen graduated from Simpson College in Indianola, Iowa, with a bachelor's degree in economics and business management. He currently resides in Urbandale, Iowa, with his wife, Karah, and their two children, Emma and Halle.

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Independent Community Bankers Association of New Mexico Chooses SHAZAM as Preferred Provider

Friday, October 30, 2015

DES MOINES, IA — The Independent Community Bankers Association of New Mexico (ICBA/NM) has chosen the SHAZAM Network as its preferred provider of ATM and debit card processing for its member banks. The unanimous selection by the ICBA/NM board came after considering several proposals submitted by interested associate member firms.

"It’s gratifying that the ICBA/NM chose SHAZAM as its preferred partner moving forward," said SHAZAM president and CEO Paul Waltz. "Deepening our partnership with the ICBA/NM signals our continued commitment to bringing the choice and flexibility community banks need to compete across the country."

"The ICBA/NM board of directors chose SHAZAM due to the company's long history of being a leader and innovator in the EFT industry," said the ICBA/NM board chair Robin Willingham. "We are excited about this new partnership and feel sure that it will serve our member banks and their customers well into the future."

Willingham said one of the key reasons the ICBA/NM chose SHAZAM is because the network is member-owned and -controlled and not-for-profit. This ensures SHAZAM will never be in competition with the banks it serves.  

"In today's competitive environment, there are fewer and fewer choices to partner with companies that truly understand and pursue community banks," said Willingham. "It seems the larger and more successful processors become, the less appetite many have for servicing smaller institutions. As community bankers, we have to partner with those who share our Main Street philosophy and values."
 
Teresa Molina, the ICBA/NM's secretary/treasurer, chairs the Products and Services Committee for the association and led the committee through the final phase of recommending SHAZAM to the board of directors.

"SHAZAM is a natural fit for community banks," said Molina. "SHAZAM develops and owns its hardware and software and is able to help banks keep their technology on the cutting edge. It is this level of commitment that will allow us to continue competing head-to-head with the larger regional and national banks."  

Jim Ghiglieri, SHAZAM senior vice president of relationship development, led negotiations for SHAZAM. Ghiglieri, a former community banker and former chairman of the Independent Community Bankers of America (ICBA) said the partnership with the ICBA/NM just enhances SHAZAM’s relationships in the state.  

"SHAZAM is proud to partner with an organization that has a rich history of advocating on behalf of community banking institutions in the southwest," said Ghiglieri. "I have been privileged to make many wonderful friends in this beautiful state and admire the will and determination of community bankers in New Mexico. Together, we will move forward to assist the ICBA/NM members in providing access to world-class technology that gives them the choice and flexibility to provide the personal hands-on service their customers have come to count on."

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The SHAZAM Network Names Paul Waltz as CEO

Wednesday, September 2, 2015

DES MOINES, IA — Paul Waltz has been named the SHAZAM Network's new chief executive officer (CEO).

"Under Paul's leadership, the team is as focused as ever on addressing industry challenges and assuring SHAZAM's continued success as an industry leader," said Tim Kintner, chairman of SHAZAM's board of directors. "Paul recognizes the technical strengths that SHAZAM has long demonstrated and is determined to maintain these. He's brought a strong focus on building relationships and delivering excellent customer service to the financial institutions SHAZAM serves."

"In a time of seemingly endless change in the financial services industry, our mission for the future is the same as the day we were founded," Waltz said. "We are here to strengthen community financial institutions by offering them the choice and flexibility they need to compete."

Waltz was initially hired by the SHAZAM Network in 2013 as the executive vice president and chief operating officer (COO). In 2014, Waltz was named the company's president. Waltz replaces long-time CEO Michael Hollinger. Hollinger retired in August.

Prior to joining SHAZAM, Waltz spent more than 30 years working with community financial institutions in Iowa. During those years, Waltz also held a variety of positions on the SHAZAM board of directors, including chairman.

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Patrick Dix Joins SHAZAM Network as PR Manager

Friday, April 24, 2015

DES MOINES, IA — The SHAZAM Network today announced the addition of Patrick Dix to the company's marketing team. Hired as a senior public relations manager, Dix brings 20 years of public relations and writing experience to the member-owned EFT network.

Prior to joining SHAZAM, Dix spent the majority of his career as an anchor of the #1 morning newscast on WHO-HD in Des Moines. During his tenure at the station, he covered five Iowa Caucus cycles, city and county government and countless stories about Iowa weather including two major floods.

Dix has been recognized for outstanding reporting with awards from The Society of Professional Journalists, The William Randolph Hearst Foundation and the Midwest Broadcast News Association. In 2012, he began developing and teaching media training courses. The classes focused on how news rooms work, how to get stories on air and how to deal with media in a crisis situation. As PR manager at SHAZAM, he'll offer similar services to community financial institutions.

Dix holds a degree in journalism from the University of Missouri.

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The SHAZAM Network Adds Person-to-Person Payments to SHAZAMBOLT$ Mobile App

Wednesday, February 4, 2015

DES MOINES, IA — This week's update to SHAZAM BOLT$, the mobile app offered by the SHAZAM Network, will give debit cardholders even greater access to their cash. New features include a person-to-person (P2P) money transfer service and an interactive ATM locator.

The app offers even greater value to community financial institutions looking to provide expanded digital services, particularly P2P features, to their customers. According to research firm Forrester, P2P activity is expected to grow to $17 billion in volume by 2019.

The P2P money transfer feature allows SHAZAM BOLT$ cardholders to send money to other enrolled cardholders instantaneously. "While other P2P solutions use ACH to support their transactions, we're using our SHAZAM debit rails, resulting in a much faster transaction," said Terry Dooley, SHAZAM Executive Vice President and CIO. "A user can easily determine whether an intended recipient is enrolled simply by entering the recipient's email address into the app."

SHAZAM also integrated GPS technology into the mobile app to help cardholders in the U.S. locate nearby ATMs. Users can confirm if the ATMs are surcharge-free Privileged Status terminals and get directions.

In addition to transferring funds and finding ATMs, SHAZAM BOLT$ users can check balances and set parameters for email alerts.

SHAZAM BOLT$, originally launched in 2013 as an extension of SHAZAM's fraud-prevention services, alerting debit cardholders about potentially fraudulent activity on their accounts. The alerts can be generated anytime a suspicious purchase is detected, based on:

  • Purchases above amounts specified by the cardholder
  • Card-not-present transactions
  • Suspicious or high-risk transactions

SHAZAM BOLT$ can be configured to match a financial institution's branding, including their name and logo. A web version is also available for cardholders who prefer to access the tool from a desktop computer or mobile browser.

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The SHAZAM Network Brand Evolves to Better Reflect Diversified Products

Friday, November 21, 2014

DES MOINES, IA — As part of a multi-stage brand integration strategy, the SHAZAM Network today announced the retirement of the Cardinal Software logo. While the Cardinal Software name will change to SHAZAM Core Services, no changes to the Cardinal products, which include Cardinal Core and Cardinal Connect, or to the staff who support them are planned.

In addition, SHAZAM's marketing department has unveiled a new company tagline — Delivering Unlimited Possibilities.

"This brand integration more effectively positions the SHAZAM Network for growth," said Paul Waltz, SHAZAM president and COO. "Although many understand SHAZAM is more than a debit network, we have an opportunity to better communicate the choice, flexibility and diversified value we provide to our members and participants."

Debit processing was the primary business for SHAZAM when it was founded nearly 40 years ago. Over time, the network has evolved to offer several different products and services, including ACH, ATM, core processing, marketing, merchant services, fraud management and mobile technology with products like SHAZAM BOLT$. The 2010 acquisition of Cardinal Software was a strategic decision to support the company's expanding value proposition.

SHAZAM's core services continue to expand and gain new acquisitions. New core and platform services have been developed and based on feedback from clients, Loans and New Accounts product enhancements will soon allow increased integration with Compass XD. "SHAZAM Core Services allows you the freedom to work with the technology of your choice," said Jace Day, president of core services. "Our core is a highly customizable and changeable processing service offering in-house or in a data center environment with unmatched service and support."

"SHAZAM's new tagline, Delivering Unlimited Possibilities, speaks to our belief that as one of the last member-owned and -controlled networks, it's our responsibility to continue offering choice and flexibility," said Mike Hollinger, SHAZAM CEO. "Creating choice and flexibility in products and services for all community banks and credit unions is what differentiates us from our competition and allows our customers to better compete in the marketplace."

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Community Bankers of Wisconsin Endorses the SHAZAM Network

Monday, November 10, 2014

DES MOINES, IA — Community Bankers of Wisconsin (CBW) has announced the endorsement of the SHAZAM Network as its preferred electronic funds transfer (EFT) network.

"The endorsement of CBW speaks to SHAZAM's commitment and philosophy of serving community financial institutions," said Paul Waltz, SHAZAM president and COO. "Wisconsin banks and their customers are precisely the type of individuals we exist to serve, and we look forward to offering the choice, flexibility, and excellent service they deserve."

CBW represents a majority of Wisconsin community banks with approximately 900 banking offices. CBW members employ approximately 9,500 individuals and have collective assets of nearly $40 billion.

"SHAZAM is member-owned, and that is incredibly important to our banks," said Richard McGuigan, CBW executive vice president. "We are also impressed by the history of and continued focus on innovation, which is ultimately what will help community banks not only survive, but thrive in a highly competitive and shifting industry."

The SHAZAM Network is managed by a board of directors with deep roots and ties to community financial institutions. The network's mission is to provide the products and services community financial institutions need to compete, with a level of personal service and reliability unmatched in the EFT industry. SHAZAM's independent, not-for-profit philosophy assures SHAZAM participants that the network will never be their competition.

About CBW
Founded in 1981, the Community Bankers of Wisconsin is dedicated exclusively to enhancing the franchise value of Wisconsin community banks through proactive advocacy, specialized educational training, and profit-enhancing services. To learn more, visit communitybankers.org.

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The SHAZAM Network Announces New President and COO

Tuesday, August 26, 2014

DES MOINES, IA — The SHAZAM Network announced at the annual shareholder's meeting the appointment of a new president and chief operating officer for the member-owned EFT network. Paul Waltz, who served as SHAZAM executive vice president and chief operating officer, took on the new leadership role of president in anticipation of current CEO Michael Hollinger's August 2015 retirement. Hollinger will retain his CEO title until his retirement.

"As a long-time community banking executive and SHAZAM board member, Paul is the ideal leader for the SHAZAM Network," said Hollinger, who has served as SHAZAM president and CEO since 2004. "Our member owners will be as energized as SHAZAM staff have been by Paul's entrepreneurial spirit and commitment to innovation in the payments industry."

Waltz has spent more than 30 years working with community financial institutions in Iowa, most recently with First American Bank in Fort Dodge, Iowa, as chief operating officer. During those years, Waltz also held a variety of positions on the SHAZAM board of directors, including chairman.

"In this rapidly changing payments industry, it's incredibly important for community financial institutions to have a voice," said Waltz. "The SHAZAM Network has a strong history of advocacy and innovation for the success of our member owners, and it's my intention to leverage that history for an even brighter future for the nation's community banks and credit unions."

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The SHAZAM Network Prepares for EMV with MasterCard Common Debit Solution

Tuesday, July 22, 2014

DES MOINES, IA — The SHAZAM Network today announced an agreement to make the MasterCard EMV debit solution available to all of its participants.

EMV chip card adoption will decrease card fraud and increase transaction security. This agreement provides all SHAZAM Network participants with EMV licenses for MasterCard products, helping to achieve the goal of a more secure U.S. payments environment.

"The objective of our collaboration with MasterCard was to provide merchants and issuers routing choice for contact and contactless payments supporting PIN, signature or no cardholder authentication," said SHAZAM CIO Terry Dooley. "We're confident this objective has been accomplished through the agreement we've reached with MasterCard."

"Through this agreement the SHAZAM Network and MasterCard have taken another step to advance the U.S. migration to EMV," said Carolyn Balfany, SVP of Product Delivery — EMV, MasterCard "By streamlining the complexity of EMV implementation, we can advance greater debit card security."

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BancServ, Inc. Endorses the SHAZAM Network for the Florida Banker's Association

Wednesday, June 18, 2014

DES MOINES, IA — BancServ, Inc. has announced the endorsement of the SHAZAM Network as its preferred electronic funds transfer (EFT) network for the Florida Bankers Association (FBA). BankServ, Inc. is wholly-owned subsidiary of the Florida Bankers Association built to find companies that offer the highest quality products, services and solutions for FBA member banks.

"SHAZAM is especially honored to earn the endorsement of the FBA," said Mike Hollinger, SHAZAM president and CEO. "Florida banks and their customers were impacted severely by the recession, which makes this partnership all the more gratifying for SHAZAM. Our intense focus on keeping products and services low-cost, or even free, truly pays off when we reach a community that will benefit directly from that strategy."

Composed of more than 230 institutions, the FBA represents banks of all sizes and focuses. From the smallest community bank in the state to the largest national bank in the country, the FBA provides members with state and federal advocacy, educational programs and innovative products and services — like the SHAZAM Network. The association is governed by a 39-member board of directors and is staffed by 20 full-time employees.

"The mission of BancServ is to find and endorse the companies that offer the very best products, services and solutions our members need to thrive in today's economic environment. We feel very strongly that the endorsement of SHAZAM furthers that mission," said Tom Dargan, chairman of the board, BancServ, Inc. "While SHAZAM's exceptional pricing was certainly a factor, we were most drawn to their outstanding customer service and to the member-owned network's strong emphasis on ensuring that the voices of community banks and their customers are heard."

The SHAZAM Network is managed by a board of directors with deep roots and ties to community financial institutions. The network's mission is to provide the products and services community financial institutions need to compete, with a level of personal service and reliability unmatched in the EFT industry. SHAZAM's independent, not-for-profit philosophy assures SHAZAM participants that SHAZAM will never be their competition.

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The SHAZAM Network and Visa Reach EMV Agreement to Enable Choice at ATM & POS

Wednesday, April 16, 2014

DES MOINES, IA — The SHAZAM Network and Visa Inc. today announced an agreement to enable issuers to use Visa's common debit application identifier (AID) for Visa- and SHAZAM-branded cards and transactions.

Visa offered the use of its common domestic AID and Visa Smart Debit Credit (VSDC) EMV chip application, which support U.S. debit regulations requiring the ability to route debit transactions over multiple, unaffiliated networks. By sharing this AID among all U.S. debit network participants, EMV chip adoption will meet the requirements of issuers, merchants, networks and U.S. regulation while maintaining global international acceptance.

"This agreement reflects nearly two years of industry engagement," said SHAZAM CIO Terry Dooley. "SHAZAM is proud to have acted as a driving voice in the original SRPc chip-and-PIN working group and the Debit Network Alliance. The network has been active in the EMV Migration Forum, ATMIA, NAC and other industry forums. A collaboration that allowed for merchant and issuer routing choice for contact and contactless payments supporting PIN, no CVM, and signature was our goal, and we believe this agreement provides the terms to accomplish that goal."

Visa's common AID will enable point-of-sale debit transactions and domestic ATM transactions on Visa and SHAZAM-branded debit cards.

"It remains important for all U.S. debit card issuers to evaluate the business case and the industry as they begin to consider a migration to EMV," said Dooley. "Particularly for smaller issuers, including community banks and credit unions, a cost-benefit analysis that takes into account the institution's current and predicted fraud risk, as well as the potential return on an EMV investment, is a critical first step."

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About SHAZAM
The SHAZAM Network was founded in 1976 and is one of the last remaining member–owned and –controlled electronic funds transfer (EFT) networks and processors in the industry. SHAZAM provides innovative services to community financial institutions throughout the United States. SHAZAM is a single&nash;source provider of the following services: issuer, core, fraud, ATM, marketing, merchant, mobile, platform, risk, brand and ACH.

For more information contact:
Patrick Dix
SHAZAM Senior Public Relations Manager
515-288-2828
pdix@shazam.net