KYV--Know Your Vendors
When it comes to data breaches, it seems the hits just keep on coming. I ran across this somewhat disturbing story in the UK's Daily Mail in which a computer was sold on eBay containing the personal information on thousands of UK banking customers from NatWest, Royal Bank of Scotland and American Express.
Obama, Banks See Joy of Text
Banks and Barack Obama have one thing in common, whatever else: they believe in the power of texting.
Senator Obama's hugely publicized plan to announce his running mate via a text message last weekend was not just clever marketing to the media, but directly to consumers.
Everyone registered to receive the message is in a database; most recipients read the message (it seems); and they
Customer-Oriented Expense Management Improves Efficiency and Service
By Anthony Klick, Diamond Management & Technology Consultants
Behind the headlines about bank restructuring and "right-sizing," management teams are grappling with two diametrically opposed challenges: improving efficiency and strengthening customer service quality. Each of these objectives is integral to a bank's success, and institutions need to develop effective strategies to manage expenses and improve efficiency ratios without undermining customer service quality or long-term customer rel
Bremer Bank is a Perfect Example of How to Succeed in Banking-Tech-wise, That Is
DISCLAIMER: I don't believe I had ever heard of Bremer Bank, and I know I never talked to anyone there. Fiserv doesn't know about this blog unless they read it today. ITI never sends me news about their conquests even though their sub, Precision Computer Systems, sends the nicest notices-"Look what we sold this quarter." CheckFree wasn't big on news as an independent company, so now Fiserv solved that problem. And, folks, I was having root canal work on August 12th when the press release about B
Financial Supply Chain Management Continues to Evolve
Financial supply chain management continues to evolve as a promising business line for banks, particularly as corporate clients look to maximize efficiencies during the economic downturn. But creating connections among all the participants in the supply chain remains a challenge.
The Remaking of Cobol?
I recently posted a blog about a sticky situation going on in the California government that, in part, deals with the difficulty in updating its payroll system because it runs on Cobol. I commented on how similar this situation sounds to what many financial institutions are experiencing. And I received some very interesting e-mails and comments. If what readers are telling me is correct, Cobol is alive and kicking.
The Real Reasons Banks Switch to New Core Systems
I've written my share of articles for the trade journals about why bankers switch to new core systems, and I'm probably guilty of presenting, in part, the theoretical (or conventional wisdom) reasons. Now in this era of blogging, where spilling your guts is an OK thing to do, I decided to look back at the 321 projects I worked on to present the REAL reasons as expressed to me by REAL bankers while reclined on the VIRTUAL "consultant's couch" in private and behind closed doors. That's right, folk
Banks Aren't the Only Ones with Aging Systems
It looks like the banks aren't alone in being held captive by defunct programming languages. A recent article in the New York Times discusses a situation in California involving termination and cuts in the pay of state workers. The massive cutbacks involved some 170,000 people-full and part time, as well as temporary. According to the article, the move was in keeping with a 2003 court ruling that such measures should be taken if the California legislature failed to pass a budget.
Compared to Lawyers, Other Professionals are Slackers
Put your lawyer jokes away, folks. I have worked for 22 law firms as an expert witness, and I have seen how smarts and hard work pay off. The midnight oil has burned a few times for me as a consultant, but lawyers have demonstrated a new meaning for "hard work." There's no bias in this message. The lawyers found me. I didn't know them. Do my impressions represent the total population of lawyers? Of course not. I can only speak about 22 experiences, but that's enough for me to establish a very hi
Small Bank Tech Companies Pack a Strong Wallop
There are 60 bank tech companies in Automation in Banking - 2008; 32 percent of them are small companies (six to 52 employees). The criteria used for entry (all companies) were subjective:
• Some were included because they are ubiquitous. Five company names appear somewhere in the total Financial Institutions population of the U.S.
• Some were included because they offered a specialized product or service that's in demand.
• Some were included because their category was defined