Debit Cards in Use Worldwide to Reach 5.3 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

February 4th, 2012 by Bank Loan | No Comments | Filed in Bank

San Jose, California (Vocus) November 1, 2010

The global economic meltdown and rising unemployment levels have forced consumers across the world to re-evaluate spending patterns, with credit cards segment severely affected by consumers restricting spending. The enhanced emphasis on limiting expenditure and difficulty in availing credit is contributing to the increased use of debit cards across the world. Growth of debit market is also attributed to the growing acceptance of small ticket debit transactions among the merchant community. Consumer focus on scaling back expenditure by adopting pay-as-you-go strategy is proving beneficial for the debit card market. The steady growth in debit transactions even during adverse economic conditions indicates the rising consumer preference for using debit cards in payments of routine purchases. Debit card industry faces challenges due to conflict associated with interchange rates, and rising incidences of fraud and data breach.

Asia-Pacific and Europe account for more than two-third share of the total debit cards in use across the world, as stated by the new market research report on debit cards. Increasing adoption among young consumers and growing number of online transactions are major factors driving debit cards market. Apart from offering a convenient mode of payment to consumers, debit cards provide easy payment options for government and business sectors in applications such as benefits, payroll and food stamps. Rising use of debit cards is led by the advent of advanced technologies that facilitate higher card usage by enabling faster, convenient and efficient transactions. Further, the loyalty and reward program offers are also fuelling prospects in the debit card industry.

Debit card market in the US continues to register steady growth even during adverse economic conditions, largely due to consumer preference for debit as well as growing acceptance of small ticket debit transactions among the merchant community. The economic downturn has compelled consumers to re-evaluate their spending patterns, and seek convenient modes of payments for purchases. The cautious approach adopted by credit card issuers is also contributing to the growing use of debit cards. US consumers are increasingly exhibiting preference for PIN debit rather than signature debit, due to the enhanced security offered in such payments and the relatively ease of managing such transactions. Signature debit card programs generate higher interchange revenue for financial institutions as compared to the online/PIN-based debit card initiatives. As a result, card issuers focus on promoting offline card programs.

Asian countries are active users of debit cards, particularly PIN-based debit cards, which are being used as replacements for cash-based transactions. India and China are projected to drive debit card numbers in Asia-Pacific region. In Australia and New Zealand, debit cards are gaining momentum as ideal alternatives for credit cards and cash. China and Korea offer extensive and advanced infrastructure for electronic payments.

The report discusses several global and regional debit card issuers and EFT/card processing companies. Major players profiled include Bank of America Corporation, Barclays Bank Plc, Citigroup Inc., Cr?dit Agricole S.A, Deutsche Bank AG, HSBC Bank plc, ING Group N.V., JCB Co., Ltd., JPMorgan Chase & Co., Laser Card Services Ltd., Lloyds Banking Group PLC, Wells Fargo & Company, PULSE EFT Association, First Data Corporation, MasterCard Incorporated, and Visa Inc.

The research report titled Debit Cards: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a strategic review of industry, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual estimates and projections for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World.

For more details about this comprehensive market research report, please visit http://www.strategyr.com/Debit_Cards_Market_Report.asp????

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the worlds largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.

Telephone 408-528-9966

Fax 408-528-9977

Email press(at)StrategyR(dot)com

Web Site http://www.StrategyR.com/

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Global Accounting, Auditing and Bookkeeping Services Market to Reach US$267 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

January 12th, 2012 by Bank Loan | No Comments | Filed in News

San Jose, California (PRWEB) January 11, 2012

Follow us on LinkedIn Businesses during the crisis period were confronted with increasing receivables and slow collections, and with most of them reporting decreased tax season revenues, accounting, auditing and bookkeeping firms serving such companies were the worst hit. Even those accounting firms which remained strong for a certain amount of time slowly succumbed to the worst economic climate. Nevertheless, the recession induced certain positive changes in the market, foremost among them being the accelerated trend of financial professionals donning more responsible positions in the organizations they serve. Accounting, auditing and bookkeeping service providers are portraying a more active role as trusted advisers as the market comes out of the recessionary impact. Accountancy in most of the client organizations now supervises top management in all monetary aspects related to business running. Moving forwards, the traditional accounting and financial services is going to evolve into a more mature profession specializing in niche areas such as high-level diagnosis and high level guidance and advisory. During the crisis, accounting firms also spent more time with existing clients and tried developing innovative solutions for better serving their needs rather than scouting for new clients. Increased automation significantly reduced the time taken for the routine accounting jobs, forcing accounting professionals to expand scope of work.

PwC retained the top spot among the Big Four, followed by Deloitte, E&Y and KMPG. After witnessing a subdued performance in 2009, the Big Four companies inched ahead in 2010. The firms utilized the time period for building a strong platform to serve the increased client demand they anticipated post crisis. The companies invested in building markets, strengthening global strategies and in training people instead. Smaller companies on the other hand sought opportunities to grab smaller and mid-sized clients from the Big Four.

Region wise, the slowdown and stricter regulatory environment continue to have a bearing on US tax accountancy industry. The American Recovery and Reinvestment Act of the year 2009 brought in an era of tax cuts reducing demand for services of tax accounting professionals in the US. On the contrary, in Europe, implementation of new regulations has been the major growth driver for the accounting services market. Germany and the United Kingdom are the two major countries in Europe which are witnessing a rapid growth in their offshore accounting services markets, mainly because of a shortage of labor and also price pressures. Segment-wise, in the global market, services that are in high demand currently are internal audit, risk management and due diligence, while IPO and corporate finance are still in a lull. The service segment of cross-border tax advice demonstrated consistent growth. The International Accounting Standards are being rapidly adopted in several countries. Around 120 countries have permissions for IFRS implementation for the present.

The research report titled Accounting, Auditing and Bookkeeping Services: A Global Outlook announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a birds eye view of the industry, highlights latest accounting trends, and demand drivers as well as the negative impact of recent economic recession on the industry. Discussion on the industrys regional markets are amply detailed with unbiased research commentary and punctuated with a number of fact-rich market data tables designed to provide the reader a rudimentary understanding of the prevailing market climate. Markets briefly synopsized to offer the reader a prelude to regional dynamics, include US, Canada, Japan, Belgium, Estonia, Germany, Italy, Norway, Russia, Sweden, UK, Australia, China, Hong Kong India, Malaysia, Taiwan, Argentina, Brazil, Mexico and United Arab Emirates. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit

http://www.strategyr.com/Accounting_Auditing_and_Bookkeeping_Services_Industry_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.

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Global Industry Analysts, Inc.

Telephone: 408-528-9966

Fax: 408-528-9977

Email: press(at)StrategyR(dot)com

Web Site: http://www.StrategyR.com/

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Clopton Capital Expands into Property Management Industry

December 24th, 2011 by Bank Loan | No Comments | Filed in Loans

Chicago, IL (PRWEB) December 19, 2011

Clopton Capital is a Chicago-based business loan provider based in the River North district of Chicago. The firm was established in 2010 as a commercial lender that provide numerous products such as SBA loans, commercial mortgages, gas station loans, and semi truck financing.

Clopton Capital has recently purchased a multi-family property in the Logan Square neighborhood of Chicago, IL. The property is still under construction and is the first step in the firm’s plan to expand their business model into the property management industry. They have no immediate plans to expand their real estate holdings, but if this property proves to be profitable their means to expand are in existence presently. I have front row access to commercial lending conduits and can access working capital with more ease than 99% of the U.S. population. It would be a waste for me not to purchase rental properties, said Jake Clopton, the founder of Clopton Capital.

The firm has also shown interest in various commercial properties that are largely for retail use, but no formal intent to purchase such property has been made yet. The only type of commercial property Clopton Capital has zero current interest in is industrial property as they believe it is too hard to convert into a viable profit generating mechanism. We really are keeping our options open to owning real estate to supplement our business helping others finance commercial property. We feel that a great deal of working capital and long term wealth can be obtained from these properties, said Matt Reed, an associate of Clopton Capital.

The firm’s future plans involve a steady publicity and commercial real estate proliferation plan which they hope will make them a dominant player in the world of commercial loans. Their current rental properties are expected to be on the market for rent within 2012.

For more information about Clopton Capital’s business loan services contact them at CloptonCapital.com. To join their financial link exchange visit CloptonCapital.com/link.

Their specific page regarding business loans is CloptonCapital.com/businessloans.html.

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Global Installed Base of Automated Teller Machines (ATMs) to Reach 3.1 Million Units by 2015, According to New Report by Global Industry Analysts, Inc.

December 15th, 2011 by Bank Loan | No Comments | Filed in Loans

San Jose, CA (Vocus/PRWEB) February 10, 2011

Automated Teller Machines (ATMs) market is a combination of a large number of business entities that function in unison to develop and expand the concept of 24/7 banking. The growing need for speed and convenience and customers habit driven use of the services are forcing banking/financial institutions to expand ATM installations to ensure customer retention, and satisfaction. Tried and tested levels of secure and safe processing of transactions has over the years stepped up customer confidence in ATM services, and today the use of Automated Teller Machines is moving beyond simple cash dispensing to use in advanced self-service functions such as e-ticketing, bill payment, pass book updates, third party product marketing and DVD rentals. As a result, companies are integrating their software and services more holistically with ATM cards for greater innovation, efficiency, productivity, and ultimately, financial performance.

A host of factors are keeping the global ATM industry afloat and modestly rising, despite the economic meltdown. These factors include growing customer adoption of ATM services and rising preference for self-service banking. The recession interestingly has resulted in bank customers resorting to increased ATM transactions, a direct fallout of rising overdraft fees on debit cards, high service charges for credit cards, and reduced preference for plastic money against a backdrop of weak personal finances, and tight liquidity. The recession-induced reliance on cash as against credit is fingered as the prime reason pushing up ATM cash withdrawals. For instance, paralyzed credit markets and drying up of debt markets has pushed the use of cash. Broken consumer confidence in banking and financial institutions also played an instrumental role in reinstating customers preference for cash options. In addition to consumers heightened use of ATMs, banks are also making additional use of ATMs by providing additional services on ATMs to bankcard holders. In taut economic conditions like the present, where operating costs and productivity at every branch office is of critical importance, banks are reducing costs and improving productivity by reducing time-consuming, repetitive, low value-added transactions in branches and providing them through ATMs.

The cumulative strength of the installed base of these machines worldwide has been relatively unruffled, unlike new installations in developed markets, which witnessed moderate slowdown in growth as a result of banks/financial institutions postponing replacement of aging equipments/machines and canceling branch expansions, which typically provide a business case for new machines. The high density of ATM installed base in Asia-Pacific is partially responsible for the cumulative growth of the installed base of ATMs worldwide. Installation projects in the vast majority of emerging markets such as China, Latin America, Australia, New Zealand, Eastern Europe, Russia and the Middle East continued unfazed by the financial turmoil. In comparison, the United States, and mature Western European countries witnessed erosion in installed base as several beleaguered banks and mortgage giants collapsed. Bank closures, failures, and bankruptcies have been phenomenal in these countries. In the US alone, numerous banks were closed during the years 2008 and 2009. Future growth in the market, post recession, will be driven by increasing regulation and impending political changes goaded on by the financial crises led economic recession.

Self-service technologies translate into tremendous business gains and provide value to consumers, and banks in the developed markets are forecast to capitalize on the benefits offered by the ATM technology. Also, new government regulations in countries such as Thailand and India are stimulating growth of ATM market. Despite the threat to ATM/debit card market from smart cards, POS, and other new payment methods, ATM will continue to remain a trusted standard in banking operations, and replacement demand will continue to stem from the developed countries where older & existing units will need to be replaced with higher functionality units. Demand is forecast to be especially high for sophisticated ATMs with superior capabilities. For example, deposit processing is a classic example of new ATM capabilities that grabbed the attention of banks in developed nations. Image-enabled ATMs that can simultaneously process up to 50 checks without the need of an envelope, display and print images on a receipt holds ample appeal to small/medium size businesses with busy schedules. In addition, the steady political thrust in the form of EMV (Europay-MasterCard-Visa) and 3-DES (triple data encryption standard) specifications, technical innovation, rapid advances in the form of intelligent deposit, and solutions that integrate mobile-banking with the self-service/ATM channel, will drive future gains in this space.

Major players in the marketplace include Diebold, Euronet Worldwide Inc., NCR, Wincor Nixdorf, Fujitsu, Hitachi-Omron, Greenlink Technologies Inc., Tranax Technologies, Inc. Triton Systems, among others.

The research report titled Automated Teller Machines (ATMs): A Global Strategic Business Report announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The single-segment report provides market estimates and projections (in Thousand Units) for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, the UK, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Korea, Australia, Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and the Middle East.

For more details about this comprehensive market research report, please visit

http://www.strategyr.com/Automated_Teller_Machines_ATMs_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the worlds largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.

Telephone: 408-528-9966

Fax: 408-528-9977

Email: press(at)StrategyR(dot)com

Web Site: http://www.StrategyR.com/

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Pearsons Paul McFall Honored for Leadership, Innovation in Education Industry

December 8th, 2011 by Bank Loan | No Comments | Filed in News

New York, NY (PRWEB) December 01, 2011

Honoring his lifetime dedication to the advancement of education, the Association of Educational Publishers inducted Paul McFall, Senior Vice President of Pearson School, into its Hall of Fame today.

The Hall of Fame pays tribute to those who have made remarkable and lasting contributions to education and educational publishing. This special career distinction recognizes individuals for their extraordinary individual achievement, professional accomplishments, and exceptional impact on the community.

McFalls 45-year record of success embodies a total commitment to supporting classroom teachers in meeting the challenges they face every day. His unparalleled successes as a leader and innovator include spearheading Pearsons and the industrys intense focus on research-based curriculum. At the same time, he introduced independent efficacy studies of the companys curriculum programs to validate their success in improving student outcomes and to inform the next generation of product development. His foresight into the future direction of educational development served as a catalyst to the launch of the first technology-based elementary math and social studies programs into the marketplace.

McFalls current responsibilities as Pearsons Senior Vice President, School include advising the product management and development teams, providing insight and expertise into evolving curriculum issues, and supporting government relations efforts.

He recently completed a two-year term as President of the Executive Committee of the Association of American Publishers School Division, and serves on the Central Regional Board for Jumpstart for Young Children, a non-profit Pre-K organization. He is a key contributor to Pearsons Instructional Leadership Council, and the Hispanic Leadership Council. McFalls dedication to education extends to a legion of volunteer activities, including helping underprivileged children learn to read.

After completing his B.A. degree at Troy State University in Alabama, McFall taught fifth and sixth grades in the Escambia County School System. He received his M.A. in elementary education in 1968 at the University of Georgia. In 1970, he became a representative for Harper Row Publishing in North Carolina. Following that, at Macmillan/McGraw-Hill, he was named regional vice president of the Southeast, and in 1994 he became senior vice president, national sales manager in New York.

Both professionally and personally, Paul personifies the highest levels of commitment, integrity, and achievement, said Peter Cohen, Pearson School CEO. He has had an indelible impact on the education industry. Im honored to have him as a colleague, and congratulate him on this honor recognizing a remarkable career which has always been focused on what is best for teachers and students.

Charlene Gaynor, CEO of the Association of Educational Publishers, said, “We congratulate Paul on this incredibly well deserved recognition. His illustrious career has been marked by unmatched integrity, inspirational leadership, a vision that drove innovation, and most of all a commitment to our country’s teachers and students. For every one of his more than 45 years devoted to education, he has been a role model for all of us.

The Class of 2011 includes Dr. Charlotte Frank, Senior Vice President of Research and Development at McGraw-Hill Education, and Don Johnston, CEO and founder of the special education company Don Johnston, Inc.

About AEP

The Association of Educational Publishers (AEP) is a nonprofit organization that serves and advances the industry of supplemental educational publishing. The membership of AEP represents the breadth of educational content developers delivering progressive educational products in all media and for any educational setting.

AEP’s thought leadership and market insight have created ground-breaking opportunities for its members to collaborate, network, and partner with each other as well as to acquire a voice in the development of government education policy. Founded in 1895, AEP now assists its members in navigating the global realities of educational publishing in the 21st Century. For more information, please visit http://www.AEPweb.org.

About Pearson

Pearson, http://www.pearsoned.com, has as its mission to work side by side with states, districts, teachers, students and parents to ensure that every child is prepared for college and career (NYSE: PSO).

For more information:

Kate Miller, kate.miller(at)pearson(dot)com 800.745.8489

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paul mcfall aep

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Merchant Cash Advance Industry Encouraged by 2011 MerchantCashinAdvance.com Statistics

November 15th, 2011 by Bank Loan | No Comments | Filed in Loans

New York, NY (PRWEB) July 13, 2011

Quick money is needed by many small businesses that are not ready to wait it out for bank loans that can come with lots of restrictions and limitations. This desire for money among small businesses has now led to the boom in the merchant cash advance Industry.

The merchant cash advance industry has been an well-kept secret in the financing sector. Until recently, the media largely overlooked such options and focused mainly on bank loans.

Opposition for merchant aash advances still exists as many people think that it is too risky for a business to rely on merchant cash advance over the traditional bank loan.

Small businesses are now ready to risk it all, which has been reflected in the recent statistics released by MerchantCashinAdvance.com. Even though the figures are not exact, it shows that there has been strong growth of merchant cash advance industry in 2010.

According to MerchantCashInAdvance.com, the state of California tops with 2,768 Merchant Cash Advance deals with $ 69,200,000being funded by the merchant cash advance industry.

There are at least 50 Merchant Cash Advance transactions that have happened in almost every state of the US. In total, 21,000 Merchant Cash Advance deals made and the industry has funded over $ 500 million dollars to small businesses and others in 2010 alone.

?Part of the reason for this MCA boom is due to the fear created by the mainstream media about the failing US economy, owners of US companies have now started to think like Asian companies as most of the Asian companies get their funds from MCA type industry? said Mark Quinones, CEO of Merchantcashinadvance.com.

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Property Records Industry Association Elects Officers and Directors to Lead the Association

November 10th, 2011 by Bank Loan | No Comments | Filed in Bank

Morrisville, N.C. (PRWEB) October 31, 2011

During its September 24-27 Annual Conference in San Antonio, the Property Records Industry Association (PRIA) elected seven board candidates in three categories for two-year terms on the Board of Directors.

Larry Burtness, chief deputy recorder, Washoe County, Nev.; Kathi Guay, register of deeds, Merrimack Co., N.H.; and Kay Wrucke, recorder, Martin Co., Minn.; were elected directors in the recorder category. Marc Aronson, president, Pennsylvania Association of Notaries; Richard Bramhall, senior vice president & chief title officer, Bank of America; and Charlie Epperson, chief technology officer, SigniaDocs Inc.; were elected in the business category; while Mark Ladd, director of channel sales, Simplifile, LLC., was elected to fill the one vacant at-large position.????

When the new board convened on Tuesday, September 27, for the first Board of Directors meeting of the new session, officers were elected for one-year terms. Wrucke was elected to serve as President; David Ewan, Westcor Land Title Insurance Co., was elected vice president; Joan McCalmant, recorder, Linn Co., Iowa, was elected secretary; and Ladd was elected treasurer.

Directors continuing for the second year of a two-year term include, Danny Crank, recorder, Butler Co., Ohio; and Carol Foglesong, asst. comptroller, Orange Co., Fla.; representing the recorder segment; Kellie Romeo, director of education & technology, American Land Title Association, representing business; and Diane Swoboda Peterson, assistant deputy recorder, Woodbury Co., Iowa; at-large member.

Says newly elected president, Wrucke, ?After serving PRIA the past two years as vice president, I am excited to step into the chief volunteer role and be able to lead this dynamic organization.????I am very fortunate to have an experienced and hard-working board, active committee and workgroup co-chairs and a staff to support the efforts of us all. The committees are embarking on a number of new initiatives and I envision productive years ahead.?

The Property Records Industry Association brings together government and business experts to build consensus, establish best practices and drive efficiency and effectiveness throughout the industry.

For more information on PRIA, visit http://www.pria.us.

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Industry Veteran to Lead Sales and Marketing at WorkForce Software

October 29th, 2011 by Bank Loan | No Comments | Filed in Bank

Livonia, Mich. (Vocus) March 3, 2009

WorkForce Software , Inc., a leader in workforce management solutions, announces that Howard Tarnoff , an industry veteran of the human capital management market, joined its executive management team as senior vice president of sales and marketing.

With more than 20 years in the Human Capital Management (HCM) industry, Mr. Tarnoff is a thought leader who has been instrumental in building profitable high-growth organizations. Mr. Tarnoff previously held executive positions at RedPrairie Corporation, Workbrain, Kronos?, and Simplex Time Data Systems.

“I am delighted to be aligned with the team at WorkForce Software,” said Tarnoff. “We are uniquely positioned to build upon its record of consistent revenue growth and customer satisfaction. We go forward focused on one goal; to be the dominant player in Enterprise Workforce Management. Our leadership in numerous industries such as the public sector, education, and utilities will help drive our growth with new customers in other industries. Our user-configurable suite will continue to deliver true ROI and ensure compliance with regulations. We will retain and grow our client base by effectively listening to their needs and executing at all levels in the organization.”

“Howard’s vision and skill set will help take WorkForce Software to the next plateau of growth and presence in the market,” said Kevin Choksi, president and CEO of WorkForce Software. “He has been instrumental in growing organizations in this market for years, and we are thrilled he joined our team.”

About WorkForce Software

WorkForce Software, Inc. is a leader in workforce management systems for mid-sized and large employers. Its EmpCenter? system automates and streamlines interactions between the employer and its workforce. Interactions include time entry, time-off requests, request for personal information, and schedule preferences. By automating these interactions, organizations can better manage payroll and processing costs, help ensure compliance with state and federal regulations, and increase the productivity and satisfaction of their employees. The EmpCenter suite is composed of numerous applications, including Time and Attendance, Activity Based Costing, Multiple Assignments, Accruals and Absence Manager, FMLA Manager, Advanced Scheduling, and Fatigue Management. WorkForce Software’s diverse customer base includes large employers such as the University of California, the City of Raleigh, Vivendi Universal Games, and Compass Bank. For more information, visit http://www.workforcesoftware.com.

Copyright ? 2009 WorkForce Software, Inc.

Media Contact:

Melissa Diemert, Director of Marketing

WorkForce Software, Inc.

(734) 742-3594

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M&A Activity Reaches All-Time High in Debt Collection Industry — Debt Purchasing Sub-sector Leads the Way in Q304

September 21st, 2011 by Bank Loan | No Comments | Filed in Bank

Bethesda, MD (PRWEB) November 15, 2004

The accounts receivable management industry has never seen more merger and acquisition activity than in the first three quarters of 2004. And the year is not over yet.

Already, nearly $ 1.3 billion has changed hands in industry transactions, including more than $ 500 million from 17 deals announced in the third quarter alone. This represents a 28% increase from last year?s total of $ 940 million. The previous high mark for industry M&A deal value was $ 1.2 billion which occurred in 1999 before the downturn in M&A and the economy.

This active deal environment is fueled by increased confidence in the economy, the continued rise of consumer debt, greater access to capital to finance transactions and strong performance by many visible, and a few public, industry players. The strategic acquisitions in 2004 have been particularly noteworthy. As more business process outsourcing (BPO) and related firms look to different sectors for growth, debt collection has become an increasingly attractive addition to their stable of services.

Advisory firm Kaulkin Ginsberg Company, a specialist in the accounts receivable management industry, recently announced a deal between Indian BPO firm ICICI OneSource (a unit of ICICI Bank Ltd, NYSE: IBN) and U.S.-based collection agency Account Solutions Group, marking the first time an India-based firm has acquired a collection agency to establish a US footprint. ICICI One Source sought to expand its services and add a US presence and debt collection was considered a perfect fit. Ananda Mukerji, Managing Director & CEO, ICICI OneSource, said of the deal, ?The acquisition is in line with our strategy to aggressively expand our service offering and continuously deliver value to our clients. We have identified collections as a high growth area and this acquisition gives us a platform from which to offer the most complete collections solutions to our clients.?

In August, diversified CRM firm West Corporation (NASD: WSTC) acquired Worldwide Asset Management, a sizeable debt purchasing and contingency collection agency, in a $ 178 million deal. When added to its 2002 acquisition of Attention LLC, West now has a significant presence in the debt collection industry. Similarly, West?s strategy to move into collections was client driven but was also an effort to maximize the use of its assets (technology, offices and staff) which are very similar to those of collection agencies.

In September, student loan behemoth Sallie Mae bought a majority interest in Arrow Financial Services, a large debt purchasing and collection firm. Sallie Mae entered the accounts receivable management industry a few years earlier with the acquisition of two student loan agencies. This acquisition positions Sallie Mae as one of the largest collection entities and debt purchasers in North America. This deal and the West-WAM deal underscore the interest in collections and in particular, the debt purchasing industry.

Will this level of activity continue through the rest of the year and into 2005? Kaulkin expects that 4th quarter closings will slow due to the holiday season and based on its knowledge of the market, but sees strong activity in the first quarter of 2005 for both US and international deals. ?We believe that M&A will be a continuing trend in the industry,? said Michael Ginsberg, CEO and President of Kaulkin Ginsberg Company. ?From all of our conversations with owners and investors around the industry, we fully expect this level of interest in collection agencies to continue well into next year and beyond.?

About Kaulkin Ginsberg

Since 1989 Kaulkin Ginsberg has provided solutions to accounts receivable management and other business services industries. Through our SAGE program (Strategic Analysis, Growth and Exit), we work with owners and executives in their efforts to grow or exit their business. Our services include merger, acquisition and valuation advice, research, growth and operational consulting as well as training and executive search services.

Kaulkin Media publishes CollectionIndustry.com and Credit & Collection Daily, and is the leading source of industry information. Kaulkin Partners, our sales and marketing group, is the leading source of cutting edge technology for creditors and collectors. Lastly, Kaulkin Information Systems creates secure and affordable online document imaging and retrieval technology for credit grantors, agencies and debt buying companies. Read more about Kaulkin Ginsberg at http://www.kaulkin.com.

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Steven Nigro Brings Financial Services Industry Focus to Allegiance Capital

August 24th, 2011 by Bank Loan | No Comments | Filed in News

New York, NY (PRWEB) August 18, 2011

Allegiance Capital, one of the largest private investment banks serving the lower middle market, announced today that Steven Nigro has joined its New York office to serve as a Managing Director, leading the firm’s Financial Services Practice Group. Mr. Nigro has closed more than 50 insurance, banking, broker-dealer and specialty finance transactions during his career.

?We?re very pleased Steven Nigro is joining Allegiance Capital and will spearhead our investment banking initiatives within the financial services industry,? said Chris Parisi, Head of Allegiance Capital?s New York office. ?He has a very strong record of serving clients in this sector, and has facilitated some of the most significant corporate finance deals for middle market financial services companies.?

Before joining Allegiance Capital, Mr. Nigro was Chief Operating Officer of Pfife Hudson Group, Inc., an investment bank focused on financial services. Previously he?d served as Managing Director for Rhodes Financial Group L.L.C. and also for Hales & Company, both financial advisory firms catering exclusively to the financial services and insurance industries.

Prior to his career in investment banking, Mr. Nigro held operating positions, as Chief Financial Officer for an insurance carrier and for a securities broker-dealer, and also as a merchant banker concentrating on the acquisition and operations of financial institutions. Mr. Nigro currently serves on the Board of Directors of Maiden Holdings, Ltd., and is a Certified Public Accountant in New York.

?Allegiance Capital is a solid platform steered by highly experienced professionals, and I am thankful for their confidence and looking forward to their support,? Mr. Nigro said. ?The Allegiance Capital operating philosophy and entrepreneurial spirit is consistent with the needs of middle market financial institutions that often rely on their investment banker for business and operations guidance as well as financial advice. Today?s regulatory and operating environment is challenging for financial firms, and we intend to meet those challenges together with our clients.?

About Allegiance Capital Corporation

Allegiance Capital Corporation is a private investment bank specializing in financing and selling businesses in the middle market. Founded in 1998, Allegiance Capital has won multiple awards recognizing the value it delivers to clients. Examples include: 2009 Dealmaker of the Year (Dallas Business Journal), 2008 Boutique Investment Bank of the Year (M&A Advisor), 2006 Investment Bank of the Year (Dallas Business Journal). Follow Allegiance Capital on Twitter:@ALLCAP.

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