Taking Its Lumps and Moving On
Despite the subprime meltdown banks will continue to invest in certain IT areas, including front-end customer management systems, new-account opening processes, mobile banking and payments, and, of course, compliance.
Banks Do It, Home Builders Do It, Automakers Do It, Consultants Do It, And Now, Even Bank Tech Vendors Might Lay Off Employees For The First Time In History
Fiserv has never had a layoff. Nor has Metavante, Jack Henry, Open Solutions, Harland Financial Solutions, Computer Services, Inc. or COCC. It's hard to tell if Fidelity National Information Services has had any layoffs because they selectively discharged redundant employees as they acquired like companies, and I'm not sure that counts as a layoff. Suffice it to say, bank tech companies have been constantly adding employees to satisfy a growth record that never dipped in over 40 years.
Online Account Opening Provides Myriad Benefits to Retail Banks
Online Account Opening From processing efficiencies to competitive differentiation, online account opening offers myriad benefits to retail banks. A successful online account-opening program, however, requires the right products and capabilities, including fraud protection and real-time decisioning.
Shaping the Future
Bank Systems & Technology's editors identify some notable industry movers and shakers with opportunities to make a difference in the banking technology world in the coming year.
Technology Executives Have a Need for Speed
Our editors asked experts across the financial services industry to predict the hot technology topics for their sectors in 2008. Analytics, risk management and integration will top financial services IT executives' to-do lists in 2008.
Caution Is the Key to the Chinese Card Market
Everyone in banking seems to want a piece of China. And why wouldn't they? The Asian nation isn't only an economic powerhouse, but contains a quarter of the world's population. Just think of the customer acquisition opportunities. However, if you're a non-Chinese provider of financial services, the barriers to your entering this market are many.
Enhancing The Blog
Last week's blog about large bank vs. small bank technology produced exceptionally good and meaningful feedback. I believe the three respondents added new dimensions to my message, and thus I want to make sure everyone sees the wisdom of the three gentlemen who commented.
RDS SPECIAL: The Checking Account will Evolve and Branding will Make All the Difference
OK, I think we all know the writing is on the wall for checks. But just for the heck of it, I decided to attend a session at Retail Delivery called Why Is It Still Called a Checking Account? Dove Consulting managing vice president David Dove discussed with attendees the continuing decline in check volume and the rise in electronic payments, along with how branding can make a difference in banks' account acquisition and retention efforts.
RDS SPECIAL: Capital One's Lynn Pike Outlines the Three Elements to Successful Innovation In Banking
After an unsuccessful attempt to find a sandwich at lunch on Wednesday (Note to BAI: Next year, order more sandwiches), I wandered over to the large ballroom to hear Lynn Pike, president of Capital One, give a talk on innovation. Fine, a positive message like that could help take my mind off my hunger! And seeing the clips of the firm's well-known Visigoth TV ad campaign was good for a few laughs.
Heed the Call of Web 2.0
The importance for banks in applying Web 2.0 is not just about marketing to a more technology-driven demographic (e.g. Gen Y). It is about not being disintermediated.
Big Bank vs. Small Bank - Which One Has The Best Technology?
Once again, I first must confess to a bias before making this case. "Big" by itself has never impressed me. "Big and capable" is another matter. So when I tell you that small banks have better technology than the giants, I'm ready to defend my statement with facts.