Forced unions, toxic assets and politics all raise the stakes for recent bank mergers. However, some basic M&A principles are as true for today's hastily arranged megamergers as they are for traditional acquisitions.
When ING Direct's chairman, president and CEO Arkadi Kuhlmann talks, people listen. Kuhlmann was the featured speaker at a morning session at the Retail Delivery show called Innovation Works. The bank chief, who prefers to camp out in the call center than sit in an office, discussed some of the secrets to being unique.
Unisys provides a fully secure financial services supply chain using technologies that support an enterprise-wide, holistic approach to identity management, risk assessment and mitigation, physical security, and business process outsourcing.
If there ever was a time when a turnaround story would resonate in the banking industry, it's now. So I attended the presentation by Anne M. Mulcahy, chairman and CEO, Xerox Corp., on the opening day of the 2008 BAI Retail Delivery Conference & Expo in Orlando, eager to learn more about how this organization overcame financial, operational and competitive failures to transform itself and regain market dominance.
Consumers like electronic payments. So was the conclusion of the 2008 Study on Consumer Payment Preferences conducted by BAI Research in conjunction with Hitachi Consulting. Although there weren't too many surprising revelations, I was inclined to believe there is more going on in the debit space than meets the eye.
I first became aware of banking technology in 1960. My company (Honeywell EDP) had sold a computer to the First National Bank of Boston (later Fleet Bank and now BofA), and that was a big deal because it was the bank's first semiconductor computer. Vacuum tubes were old technology. The new computer meant everything had to be reinvented-mainly applications software. It would be eight years before the late Ken Kirchman would introduce the novel idea of banking software for sale. So every large ban