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IndustryUpdate

ANNOUNCEMENTS Paybefore honors G2, Vantiv

G2 Web Services' Payment Laundering Detection won
CSBS supports lawsuit against OCC the 2017 Paybefore Pay Awards award in the Fraud
Fighter category. The technology uses propriety web
In a May 17, 2017, statement issued to the New York surveillance and G2's Merchant Map, which has tracked
Department of Financial Services regarding its lawsuit 60 million merchants and mapped trillions of data con-
against the Office of the Comptroller of the Currency, nections. Vantiv Inc.'s triPOS Mobile SDK earned the
Conference of State Bank Supervisors President and M-POS Solution award for an iOS app that integrates
CEO John Ryan, said, "CSBS strongly supports the EMV (Europay, Mastercard and Visa) and point-of-
lawsuit filed today by the New York Department of interaction devices within its Express platform.
Financial Services against the Office of the Comptroller
of the Currency. The OCC does not have the authority PAI moves to new headquarters
to issue federal charters to non-banks, and its unlaw-
ful attempt to do so will harm markets, innovation and Payment Alliance International moved into its new
consumers." headquarters in Louisville, Ky. The latest move follows
expansion moves for three of its operating centers. The
Europol assigns JCAT to cyberattack newly built 30,000 square foot headquarters features a
highly secure data center, technologically advanced cor-
EC3, the European Cybercrime Centre at Europol, porate training area, employee collaboration rooms and
stated it is working closely with cybercrime units and the latest in multi-point video conferencing.
key industry partners in multiple countries affected
by a large-scale ransomware attack in May known as TransMerit earns fintech award
WannaCry that encrypted computer data and demanded
ransom from its victims to unlock. The Joint Cybercrime TransMerit Merchant Services was named the Best
Action Taskforce, a division of EC3 made up of a group Credit Card Payments Solution by the 2017 FinTech
of specialist international cyber investigators, will play Breakthrough Awards. Over 3,000 global nominations
a key role in supporting the investigation. were submitted this year. "To be recognized for this
effort, amidst a field of global firms, excites us about the
FDIC, OCC lift D+H Consent Order future of the industry," said Keith Olmo, co-founder and
Managing Director at TransMerit.
The Federal Deposit Insurance Corporation and the
OCC terminated the Consent Order entered into with Wells Fargo names startup accelerator participants
two D+H Corp. subsidiaries as a condition of its acqui-
sition of Fundtech in 2015. The order was issued in Wells Fargo & Co. selected ProxToMe and Uniken to
2013, in connection with certain Fundtech businesses. join the Wells Fargo Startup Accelerator program. Each
Since the acquisition, D+H has made investments and participant in the non-exclusive, six-month program is
improved risk practices in those businesses to meet eligible to receive up to $500,000, mentoring, and guid-
requirements of the Consent Order. ance in refining their potential breakthrough technolo-
gies for the financial services industry. Wells Fargo busi-
First Data recognized for diversity, human rights ness and technology leaders plan to work closely with
the companies to test concepts and help them accelerate
First Data Corp. received recognition from the Human time to market for their services.
Rights Campaign, DiversityInc. and GLSEN, each hail-
ing the company for fostering workplace equality and Worldpay's Kalifa named to EMpower list
opportunity for employees of all backgrounds. "First
Data cultivates a workplace culture that values all indi- Worldpay Vice Chairman and Executive Director
viduals regardless of race, ethnicity, sexual orientation Ron Kalifa ranked third on the 2017 EMpower Ethnic
or any other characteristic," said Cindy Armine-Klein, Minority Leaders List, presented by the Financial Times.
Executive Vice President, Chief Control Officer, and The list showcases the top 100 U.S. and U.K. minority
founder of UNITY, First Data's LGBT employee resource executive professionals. Kalifa was appointed to his cur-
group. rent role in 2013, having previously served as Worldpay
CEO for over 10 years and in executive roles with RBS
MoneyOnMobile expands with YES! Bank and NatWest. Mergers and acquisitions, and strategy
development are among his core strengths.
MoneyOnMobile Inc. entered an agreement with YES!
Bank to increase its secured credit facility to $3.75 mil-
lion in order to facilitate growth in domestic remittance
processing volume in India. "This expanded line of cred-
it will allow our merchants to take on even more domes-
tic remittance transactions," said Harold Montgomery,
MoneyOnMobile Chairman and CEO.
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