As financial institutions scramble to comply with the federal government's Oct. 1 deadline for implementing strict customer-identification procedures, they're looking for technology to scour transactions for patterns of fraud.
Considering the rapid rate at which banks are rolling out innovations to their online offerings and the inexorable rise in customer adoption, you might think site performance would inevitably suffer. Think again.
Looking back at the August 14 blackout in the Eastern U.S. and parts of Canada, it's evident that the disaster recovery plans at financial institutions worked precisely as intended. But there's still room for improvement.
The challenges of dealing with a shrinking budget and an increasing workload are nothing new to Tim Theriault, president of worldwide operations and technology, and chief technology officer with Chicago-based Northern Trust.