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Executive Update
Ed Mollahan of J.P. Morgan Investor Services appointed to the Private Equity Standards Board; Thomas Makmann named president and chief executive officer of Network Storage Solutions; James E. Rohr of PNC Financial Services Group selected chairman of the board for BITS, the Technology Group for The Financial Services Roundtable.
International Bytes
Deutscher Sparkassen Verlag to install the ANDiS card and application management system from Bell ID; Close Brothers (Cayman) Limited merchant bank selects automated accounting and administration system from Global Investment Systems (GIS); Goldfish Bank Limited engages Sanchez Computer Associates to provide custom development and support services for a new banking products.
North America Bytes
Victory Capital Management selects BISYS to support its private labeled Individual(k) retirement plan; Whitaker Bank Corporation of Kentucky implements a core processing solution from Precision Computer Systems; VirtualBank selects a workflow product from Ultimus to enhance internal efficiency and productivity.
Association/Trade Show Update
Pocket PC Summit, the only conference and exposition dedicated exclusively to the Pocket PC platform, will take place this May in Philadelphia; U.S. Bank joins NACHA; BAI's TransPay 2002, a multi-faceted transaction processing and payments conference, will take place this May at the Anaheim Convention Center in Anaheim, Calif.
World Briefs
Citibank deploys Flexcube; BMCE Bank licenses mobile e-commerce software from 724 Solutions; Unibanco licenses PayWare eIssuer.
New Initiatives Must Pass ROI Test
Large financial institutions are reexamining their IT spending initiatives, leading to project resizing or reallocation of resources.
Bank Bytes
First of Omaha Merchant Processing, taps OneBridge Mobile Server to provide mobile access to its sales force automation system.
Banks Need To Eye Security When Considering Outsourcing
Although a bank can seek outside expertise and guidance, bankers themselves are responsible for securing their informational and monetary assets, according to Marshall Millsap of J.P. Morgan Chase.
Executive Changes
Alex W. "Pete" Hart joins the advisory board of Payment Partners; Paul Bourke named CEO of Aurum Technology; Victor J. Menezes appointed chairman of the board for The New York Clearing House.
International Bytes
Merrill Lynch and Ocwen Financial Corporation form international asset management servicing company for distressed businesses; FinancialOxygen launches a new online exchange for Fed Funds and Eurodollar trading; GSTP AG to launch its global straight-through processing network in September 2002.
North America Bytes
J.P. Morgan Chase Bank licenses custom-designed Web-based tools for collateralized debt obligation from RiskMetrics Group; Heritage Bank of St. Joseph selects a Windows-based teller system from National Source One; Republic Bank implements channel enhancement application from S1; Truliant Federal Credit Union to install Web-based e-procurement and asset management applications from Verian Technologies.
Association/Trade Show Update
The second annual Arab Banking Technology Conference to take place in Dubai on April 22-24, 2002; SWIFT and Global Crossing restructure agreement.
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