Mobile Payments Heat Up in Canada
CIBC Bank's Steve Tyers, VP of e-channels products and marketing, discusses the bank's plans for mobile following its launch of an NFC-based mobile payments app late last year with BS&T associate editor Jonathan Camhi.
RIM to Rename Itself BlackBerry
Research In Motion Ltd
is changing its name to BlackBerry, the company
announced on Wednesday, in move to refresh its tarnished image
as it begins marketing a reengineered line of BlackBerry 10
Treasury Needs Exit Plan for Ally Financial, Says Watchdog
The U.S. Treasury needs to develop a
concrete plan for exiting its 74 percent stake in auto
financing company Ally Financial Inc, the second-largest
remaining recipient of federal bailout dollars, an internal
watchdog said in a report released Wednesday.
BofA's Moynihan Calls for Renewed Focus on Customers
Bank of America Corp must focus
on improving customer service as it moves past its crisis-era
problems, CEO Brian Moynihan said in a letter sent to employees,
signaling one of his strategies for boosting revenue at the
U.K. Watchdog Closes Lehman Case Against Auditor E&Y
Britain's accounting watchdog
declined to take any action against Ernst & Young (E&Y) over its
auditing of Lehman Brothers before the U.S. investment bank
failed in 2008 and triggered a near meltdown in global markets.
The Compliance Risk of Social Media
The guidelines recently issued by the FFIEC on risk management and the use of social media for financial institutions only scratches the surface of this burgeoning issue.
Obama to Tap Former Federal Prosecutor to Head SEC
President Barack Obama will
nominate former federal prosecutor Mary Jo White to head the
Securities and Exchange Commission (SEC), a White House source
said, restoring the agency's power to work on its overhaul of
Rewriting the KYC Playbook
Banks must address the "V3challenge" -- questions around variety, velocity and vagueness -- in order to achieve better bank counterparty due diligence, as part of Know Your Customer compliance.
Webster Bank Names New CIO
Colin Eccles, former CIO at Umpqua, will focus on development of e-banking solutions at Connecticut-based Webster Bank.
Reorganize Banks That are 'Too Big to Fail,' Says Fed's Fisher
U.S. authorities should
reorganize the country's largest banks to protect against the
risk of institutions that are "too big to fail" and that would
saddle ordinary Americans with the cost of a bailout the next
time they get in trouble, a senior Federal Reserve official said
Tycoons Shunning Financial Services as They Get Richer
Tycoons are shunning banks and
wealth managers, preferring to put a flood of money from selling
stakes in companies into property and new ventures rather than
trust industries whose reputations have been battered by the
global financial crisis.
Fiserv Acquires Competitor Open Solutions
Fiserv acquired Open Solutions in a deal announced this morning, adding Open Solutions' technologies - such as parts DNA core processing platform - to Fiserv's offerings.
Security is Final Hurdle to Mass Mobile Payments Adoption
A paper by the Federal Reserve Bank of Boston finds that the ultimate broad adoption of mobile payments will be largely correlated with the security of each mobile platform; and that consumer education and stakeholder collaboration will be equally crucial to promoting widespread adoption.