Only in New York. And New Jersey. And Pennsylvania. A foursome of so-called "financial whizzes" apparently worked together on a multi-year ATM scheme which, according to reports by the New York Post, bilked banks in these states of up to $1 million.
BMO Bank of Montreal Enhances ebusiness Operations Using Gomez Web Application Experience Management SolutionsExpands existing contract for on-demand Web performance monitoring services in strategic move to further strengthen brand and competitive advantage in the online financial services industry.
By Andrew Krieger, Encomia
When bank CIOs think about technology implementation, it is likely that they assume it involves a long and complicated process. They remember implementing a blended contact center or a mobile payment system-projects that took as long as 18 months for development and rollout.
You say that's a contradiction of terms do you? Well I'm here to tell you they can work with a strong dose of discipline from the deployers. Although it's a good thing that we can do lots of chores, it's also essential that we do each one with dedication. To bring this to a very down-to-earth level, let me use the example of chores around the home. There's always something to fix when you own a home (or two) that don't lend themselves to hiring Conrad Contractor. So when I'm up on a ladder clear
By Rajat Sharma, Onward Systems
Many banks are in survival mode. Some will survive, some will merge or get bought, and some unfortunately will have to close business. What does a bank need in tough economic times? A bank needs cash flow, customer retention, to maintain profitability, and to find ways to increase revenue. How is all this possible in a survival mode? By investing in business intelligence is one promising way.
By Hank Farrar, The Clearing House, and Lauren Hargraves, Federal Reserve Bank of New York
As the nation's major wire transfer systems gear up to offer significant new functionality, financial institutions and technology providers have a rare opportunity to deliver additional value to corporate clients-the power of information.
Definition: a low intensity bank uses its IT system or outsourced service to do accounting, just like the old ledger card machines used to do. So if you should go to the back room of such a bank after 7:00 PM, you'll see: (1) item processing to get all the transactions into the core system, (2) posting transactions and updating customer accounts, (3) transmission of EFT transactions to connect with the outside world, and (4) regulatory reporting to satisfy banking laws. At the end of that run (t