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Transaction Systems Architects, Inc. forms new business units
OMAHA, Neb. -- Transaction Systems Architects, Inc. has formed six new business units, as announced at the company's annual shareholder meeting Feb. 22. The six new units -- Consumer Banking, Corporate Banking e-Payments, Internet Infrastructure, Internet Banking, Electronic Commerce, Health Claims Transaction Processing and Management -- represent vertically integrated businesses focused on markets in which the company is already a market leader, or new high-growth markets targeted by the company. The Consumer Banking unit, to be called ACI Worldwide, represents the majority of the company's current revenues, customer base and market penetration. Its products, involving technologies focused on the consumer side of financial institutions, include products for ATM networks, POS deployments, branch networks, home banking, smart cards, debit and credit fraud detection and management, back-office payments management and related solutions. Mark Vipond, a 15-year TSA veteran and former head of the Consumer Banking product group will head the new unit. Management teams and formal operating names for the remaining five business units are in the process of being finalized. David C. Russell, president and CEO of Transaction Systems Architects, said, "We've put the right team in place to continue our leadership in Consumer Banking, while also setting the stage for placing a management team and structure into our newer, growth-focused units. We will formally announce these units and their management teams in the weeks ahead." In addition, the company announced that Greg Duman is resigning from Transaction Systems. A former CFO of TSA, Duman was recently responsible for managing the individual lines of business, with a focus on product development and R&D. He was a primary architect of the creation of TSA's new vertically-aligned business units. He is leaving to join an electronic commerce startup and will join TSA's Board of Directors.
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