News & Commentary
Content posted in March 2008
Banking Needs In-Your-Face Sales People
News  |  3/31/2008
If you think that I'm not qualified to dish out advice about selling because I am only a technology consultant, think again. My very first business venture at age 10 went through a rude awakening that I was able to overcome for one simple reason: I learned how to sell.
Wells Fargo's vSafe: The Virtual Safety Deposit Box
News  |  3/31/2008
As we reported in this week's Bank Monitor Update (subscription required), Wells Fargo recently announced a new service that will allow customers to store electronic documents within their Wells Fargo online account. This new service, called vSafe, is supposed to allow customers to store "virtually any popular file for
NCR In Row with Former Exec Over Trade Secrets
News  |  3/25/2008
In my usual morning perusal of news items, I ran across this post from The Bellwether Daily, a blog that proclaims itself the source of "Midwest news they seem to lose," "they" being the mainstream news media. In it, blogger Bill Sloat describes a lawsuit Dayton, Ohio-based NCR has filed against a former employee, now at Hewlett-Packard, around trade secrets. NCR maintains that the ex-vice president of the company who left NCR for HP intends
Not All Alerts Are Created Equal
News  |  3/24/2008
By Joseph Salesky, ClairMail Inc. In theory, alerts can be an effective customer service tool for fraud prevention, account management, bill payment and other banking functions. When executed correctly, not only can alerts increase customer service and satisfaction, they can also significantly cut costs for banks, introduce new revenue opportunities and accelerate adoption of the mobile banking channel.
Forget 'Insider Information.' I'll Take 'Outsider' Any Day
News  |  3/24/2008
First, I should tell you I have a relationship with two ladies at the Securities and Exchange Commission in Washington, DC. It started on May 21, 1999. I initiated the relationship by sending a general letter to the SEC about who I am, what I do, and a whole lotta claims of my innocence regarding what I know and don't know about a handful of public companies. I have six letters in the file from two ladies acknowledging my disclosures. They were not form letters. Each letter had a serial number.
false
News  |  3/21/2008
Wachovia Elevates David Pope to Mortgage and Retail Credit Head
News  |  3/21/2008
New Wachovia mortgage and retail credit business president David Pope will leverage technology to improve service.
Wagner
News  |  3/21/2008
Equitable Bank ensures continuous availability of critical apps with Neverfail 'cloning' solution.
New Product Releases
News  |  3/21/2008
Sovereign Bank Hopes Customers Get Stuck on Online Bill Pay
News  |  3/21/2008
Sovereign taps Click Tactics for e-mail marketing campaign to promote online bill payment.
Trade Debt Continues to Be an Attractive Investment Option in a Shaky Global Economy
News  |  3/21/2008
In a global economy rocked by subprime debt defaults, trade debt should continue to be looked at as a stable investment opportunity, thanks to both time-tested and cutting-edge tools to provide for the financing and settlement of commercial transactions.
Centralized and Single-Platform Operations Reduce Overall Trade Finance Risk
News  |  3/21/2008
Burdened with stricter compliance and regulatory requirements, banks with centralized operations and banks with all of their operations on a single platform face lower risk in expanding their trade finance operations.
By Understanding the Supply Chain, Savvy Banks Can Grow Their Trade Finance Business
News  |  3/21/2008
By supporting their clients' suppliers, banks can reach deeper into the supply chain and create opportunities to increase their trade finance business.
The Credit Crisis Has Increased Scrutiny on Trade Finance
News  |  3/21/2008
The global credit crisis has emphasized the importance of cash management while intensifying the spotlight on corporate governance and banks' risk management practices. What new demands will corporates place on their banks in the current uncertain economic environment, and how can banks pursue growth opportunities in global trade finance?
Corporate Clients Increasingly Looking to Banks to Mitigate Trade Finance Risks
News  |  3/21/2008
Corporations operating in the current economic turmoil increasingly are turning to their banks to serve as financial intermediaries between them and their trading partners to mitigate supply chain risk.
Banks Adopting More Strategies to Court Underbanked
News  |  3/21/2008
Automation is making it easier and more profitable for financial institutions to provide services to lower-income customers. And offerings such as check cashing and money transfers are enticing the underbanked to form relationships with banks.
The Bank of San Antonio Offers Big-Bank Services With a Small-Bank Touch
News  |  3/21/2008
By relying heavily on outsourcing IT and partnering with technology providers, The Bank of San Antonio's Brent Given, president and CEO, helps the institution offer big-bank products and services in a community banking environment.
The Pains of the Global Credit Crunch Are Particularly Acute in New York
News  |  3/21/2008
The crisis at Bear Stearns shows the devastating consequences -- from bank failures to stricter regulation -- on the financial services industry of the subprime mess and global credit crisis, especially in the metropolitan New York region, are still unfolding.
Patent Issues a Growing Concern for Banks
News  |  3/20/2008
Financial services patents are moving front and center as banks seek to protect their competitive advantage while the courts and the U.S. Patents Office wrangle over the patentability of intangible banking processes.
FSTC Eyes Records Management
News  |  3/20/2008
With a unique focus on technology, FSTC's new initiative promises enhanced efficiency and effectiveness for banks.
Banks Struggle to Cross-Sell Online
News  |  3/20/2008
Some banks still struggle to find the right formula for cross-selling on their Web sites.
International Payments Framework Organization to Standardize Cross-Border Payments
News  |  3/20/2008
The International Payments Framework aims to bring standards to cross-border payments.
Offshore Outsourcing of IT Losing Popularity
News  |  3/20/2008
Most U.S. companies are not outsourcing technology positions to firms outside the U.S.
Compliance Costs Continue to Rise
News  |  3/20/2008
Deloitte study shows companies are paying more than ever to remain compliant.
Interactive Financial Exchange Forum Creates Messaging Standards
News  |  3/20/2008
The Interactive Financial Exchange Forum strives for financial messaging harmonization.
Internet’s Fragility Illustrated as Undersea Cables Damaged
News  |  3/20/2008
Recent damage to undersea cables underscores the vulnerability of offshore relationships.
Spitzer Exposed by Bank’s Anti-Money Laundering Technology
News  |  3/20/2008
Eliot Spitzer's downfall was precipitated as a result of textbook AML procedures at his bank.
Paper Statements Still Offer Marketing Opportunities for Financial Institutions
News  |  3/20/2008
With all the talk of "green" this and "green" that, it's interesting when a figures from a survey such as the one by InfoPrint Solutions Company, a joint venture between IBM and Ricoh, show that paper is still "in" with consumers. Granted, the report might be a little self-serving. InfoPrint is, after all, a printer and software solutions company. However, I still think the nu
Account Selection Tools: Help Prospects Make a Decision
News  |  3/18/2008
A well-designed account selection tool not only eases the burden of choice for the prospect, it sets the tone for the overall relationship. After all, if the client has a good experience from the start, it becomes easier to sell them things in the future.
Congratulations to All Who Were In the Bank Tech World In 1985, and Are Still Here to Remember
News  |  3/17/2008
My bookcase contains 22 past editions of Automation in Banking. The 23rd is still in the oven. The 22 are dog-eared because I have had to refer to them many times to answer questions from very intelligent readers who had a need to know. Last week I read the 1985 Edition, and here are some highlights that got my attention:
New Five Dollar Bill Issued
News  |  3/13/2008
Spitzer and Kerviel: Two Sides of the Same Coin?
News  |  3/12/2008
What do soon-to-be-former Governor Eliot Spitzer of New York and Societe General's rogue trader Jerome Kerviel have in common? It appears that an understanding of bank risk management systems and regul
PayPal's Plug-in Provides Payment Parity
News  |  3/10/2008
PayPal's new payment plug-in gives consumers flexibility and choice - and that should give established banks and card companies pause.
Consolidation-Predictable for Banks, Anything Goes for Tech Vendors
News  |  3/10/2008
Consolidation is an inevitability for banks. However, the bank technology vendors might also see more M&A action as 2008 progresses.
Paying Taxes by Credit Card Simply Convenient to Some
News  |  3/7/2008
A trend among consumers in recent years has been to pay their taxes with a credit card. I know this is old news in a way, but whenever I see something about topic, I can't help but shake my head and wonder why!
The iPhone as Enterprise Device
News  |  3/7/2008
Well, Apple finally did it. The iPhone is officially ready to be transformed into an enterprise application. But what will an enterprise-enabled iPhone mean for banks?
You Don't Tug On Superman's Cape, So Don't Mistreat the Sales Guy
News  |  3/3/2008
I have always empathized with sales guys. They have the toughest job in our business because they are in the front lines, often alone, their audience is the enemy, and to make matters worse, they are constantly nagged by the win or lose outcome of their efforts--nothing in between.


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