News & Commentary
Content posted in November 2002
LexisNexis: Is Identity Fraud An Identity Crisis?
News  |  11/18/2002
Norman Willox of LexisNexis addresses some of the challenges in addressing the growing problem of identity fraud.
Home Loan Refinancing and New Risk Regulations Top of Mind in 2003
News  |  11/18/2002
Home loan refinancing and new risk management regulations will be two of the drivers impacting the banking industry over the next year, according to speakers at Ernst & Young's Financial Services Outlook 2003 conference.
PNC Outsources Origination for Discover
News  |  11/18/2002
Discover Financial Services, a business unit of Morgan Stanley, will rely upon PNC Consumer Services for origination of its home equity lending product.
Fiserv Solution Helps South Holland Trust Streamline Its Call Center
News  |  11/18/2002
Four years ago, South Holland Trust didn't have a contact center. Now a new Fiserv system allows to bank to maintain a personal touch while enabling relationship and contact management, workflow, task sharing, management reporting and cross selling.
Attempted Check Fraud Doubles to $4.3 Billion
News  |  11/18/2002
Attempted check fraud at the nation's banks surpassed $4.3 billion in 2001, doubling for the second time in four years, according to the latest American Bankers Association Deposit Account Fraud Survey Report.
Executive Changes
News  |  11/18/2002
Larry Diamond appointed senior vice president product development for S1 Corporation; Steve Jager assumes the role of president at Brasfield Technology; Ben Graboske named vice president of Technology and Engineering for Affinity Corporation.
International Bytes
News  |  11/18/2002
NIB Capital Bank to develop a global electronic payment solution using Fundtech products; SEB Merchant Banking signs an agreement with Nordic Financial Systems to produce treasury solutions for corporate clients worldwide; JCB International and United Overseas Bank have launched the first credit card to offer benefits from all the retail tenants in a Singapore shopping center.
North America Bytes
News  |  11/18/2002
Commerce Bank upgrades its Corillian Corporation online banking platform; BankAtlantic, converts to an online product suite from FundsXpress Financial Network; World Savings Bank successfully beta tests and installs a Carreker Corporation product that protects banks from fraudulent electronic debits; The Bankers Bank enters into a marketing agreement with Guarded Networks to deliver information security and Gramm-Leach-Bliley compliance services to financial institution customers.
Association Update
News  |  11/18/2002
BAFT announced dates for its Midwinter Conference.
A path to the promised land
News  |  11/8/2002
The seed that would eventually grow to become Line of Business Migration technology was planted in the minds of Michael and Frank Sanchez over a decade ago after a less-than-successful visit from a CIO of what was then Chase Manhattan Bank.
Time for a change
News  |  11/8/2002
Few would argue with the traditional view that core legacy system replacement is, well, nothing short of horrific. To rewire the entire enterprise would take thousands of man hours and tens or even hundreds of millions of dollars.
Get Smart
News  |  11/6/2002
I carry a wallet fairly bulging with cards. All told, I have about 15-five devoted to finance (ATM, credit, telephone, etc.), the remainder to identification and services.
Banks Need To Consider E-mail Retention Solutions
News  |  11/6/2002
The current wave of investigation by securities regulators of Wall Street firms regarding e-mail messages may cause financial services firms to scrutinize their e-mail retention policies and practices with a critical eye.
A Perfect Fit: ABN AMRO and Payless ShoeSource
News  |  11/6/2002
Banks get involved in international trade by offering letters of credit and related financial instruments.
JP Morgan Chase Reups Processing Contract
News  |  11/6/2002
JP Morgan Chase renews its debit card processing contract with First Data Corp.
JCB Issues Hybrid Smart Cards in Taiwan
News  |  11/6/2002
Taipei Bank is among the first Taiwanese banks to issue smart cards.
Visa Promotes Contactless Cards
News  |  11/6/2002
A new global payment specification from Visa removes the need to physically insert a smart card into a reader.
MasterCard Builds Smart Card Partnerships
News  |  11/6/2002
MasterCard and Citibank's partnership on smart cards signals a possible upturn in the rate of adoption of chip card technology in North America.
Class Act
News  |  11/6/2002
E-learning eclipses other technologies in delivering bottom-line results.
Class Act
News  |  11/6/2002
E-learning eclipses other technologies in delivering bottom-line results.
Don’t Leave Home Without IT
News  |  11/6/2002
Enhanced capabilities and advanced payment technologies spark renewed interest in smart cards.
Industry Groups Give Blessing To Truncation
News  |  11/6/2002
Banking industry groups come out in favor of legislation to promote efficiency and cost savings through greater use of check truncation.
First Penn Selects Open Solutions
News  |  11/6/2002
For First Penn Bank, commercial banking relationships are vital to its continued growth.
Heritage Bank Chooses Metavante
News  |  11/6/2002
Heritage Bank decides it is time for a change in core processing systems.
Regions Bank Inks Auto Lending Deal
News  |  11/6/2002
Regions Bank hires Fiserv LeMans to manage the day-to-day administration of its vehicle leasing portfolio.
Fifth Third Chooses ECP Solution
News  |  11/6/2002
Fifth Third Bancorp licenses Sterling Commerce's Vector electronic check presentment solution as its entree into the ECP arena.
Key Increases Its Business Intelligence
News  |  11/6/2002
KeyCorp comes to depend on Cognos and its Business Intelligence (BI) Series 7 product.
UBOC Introduces EBPP Service
News  |  11/6/2002
Union Bank of California partners with Metavante to offer an EBPP service to the San Francisco-based bank's commercial accountholders.
Citibank Joins Electronic Exchange
News  |  11/6/2002
Citibank is one of the first global banks to sign on to abix, a real-time electronic exchange that enhances communications between banks and their customers.
World Briefs
News  |  11/6/2002
DZ Bank introduces DZ-infoNet; Societe Generale outsources IT operations in Madrid and Frankfurt, and payments and retail banking operations of its London office; Rabobank provides payments investigations software from Pegasystems to its branch network, correspondent banks and corporate customers.
WestLB Taps SunGard Risk System
News  |  11/6/2002
WestLB selects Credient to monitor exposures across its international trading business.
CLS Bank Goes Live
News  |  11/6/2002
CLS Bank, a long-awaited high-tech mechanism for settling foreign exchange trades, opens with a flourish.
European Banks Face Dual-Deadline Challenge
News  |  11/6/2002
European banks face the prospect of meeting higher standards for risk management, while at the same time having to revamp their record-keeping and reporting practices in accordance with IAS.
Banks Face 120-Hour Compliance Rule
News  |  11/5/2002
Banks are in a quandary over the USA PATRIOT Act's tough deadlines for compliance.
Citibank Joins SunGard eTX Hub
News  |  11/5/2002
Dial-up scripts and import-export files provide the illusion of straight-through processing, corporations are clamoring for the real thing.
Bank Bytes
News  |  11/5/2002
UMB Financial licenses a content management software package from Stellent;Citibank offers payment gateway and risk management services from CyberSource to merchant customers as part of its CitiConnect seller solution; CIBC enters into a 7-year, C$2 billion IT services contract with HP.
Chase Taps Oracle Financial Software
News  |  11/5/2002
JP Morgan Chase embarks on a development of a global financial accounting system built around Oracle's E-Business suite.
Public and Private Sectors Ally To Secure Cyberspace
News  |  11/5/2002
The government and private industry unveil The National Strategy to Secure Cyberspace.
Treasury Passes Buck to INS, Homeland Security
News  |  11/1/2002
The Treasury wants Congress to investigate the feasibility of creating an identification system for foreign nationals under the auspices of the Immigration and Naturalization Service or its proposed successor, the Department of Homeland Security.
Checks in the Balance
News  |  11/1/2002
ECCHO president considers Check 21 recredit rules "Unnecessary"
Getting Tough On ROI
News  |  11/1/2002
Citibank is taking a hard look at returns on IT investments, using complex valuation models linked to business goals.
Are Banks Meeting SOHO/Micro Customers' Online Needs?
News  |  11/1/2002
The most recent Gomez SOHO/Micro Banker Scorecard reveals that banks are just starting to roll out online features and services these customers--small business with under $1 million in revenues--demand most.
Executive Changes
News  |  11/1/2002
Dennis R. Sheehan will assume the position of CEO at BISYS Group; JCB USA hires Julie Krueger, former executive director of the Smart Card Alliance, as vice president smart cards; John W. Cummings, senior vice president and chief operating officer of Global Technology & Services at Merrill Lynch & Co., elected to The Depository Trust & Clearing Corporation's Board of Directors.
International Bytes
News  |  11/1/2002
UniCredit Banca Mobiliare adds STP capability to its existing front-to-back Summit infrastructure; DekaBank has gone live with a decision support software package for trading departments from SunGard Investment Management Systems; KBC Bank & Insurance Group selects an S1 system to power its commercial banking services throughout Europe.
North America Bytes
News  |  11/1/2002
ABN AMRO North America selects TouchPoint Sales Management from WebTone Technologies to manage its sales activities; JPMorgan, implements the Siebel eFinance CRM solution; First Citizens Bank signs a software license agreement with Metavante Corporation for document composition technology.
Association Update
News  |  11/1/2002
Smart Card Alliance releases two new studies; The International Islamic Finance Forum will be held February 23-25, 2003 at the Crowne Plaza Hotel, Dubai, United Arab Emirates; Fiserv will Webcast Leslie M. Muma's presentation at Salomon Smith Barney's upcoming 2002 Electronic Financial Services Conference.


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