Bank Systems & Technology: The Blog http://www.banktech.com/blog/ Featuring commentary from the editors of Bank Systems & Technology, plus Art Gillis! Copyright 2009 Tue, 30 Jun 2009 13:39:22 -0500 http://www.movabletype.org/?v=3.14 http://blogs.law.harvard.edu/tech/rss <![CDATA[Dot-Matrix Printers and the Sound of Security Risk]]> Sometimes I just run across something that makes me go, “Hmm.” In this case, it was the editor’s note from a sister brand’s e-mail newsletter, Dr. Dobbs Update, which is produced by the makers of technology resource Dr. Dobbs.

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http://www.banktech.com/blog/archives/2009/06/dotmatrix_print.html Privacy/Security Tue, 30 Jun 2009 13:39:22 -0500
<![CDATA[Consolidation of Bank Tech Companies Was Pretty Much a Non Event in 2008]]> Let the stats speak to you. For the past 16 years, vendor consolidation was the place to be if you enjoyed the dynamics of “Who do you work for today?” The leader was Fiserv with 152 acquisitions. The average during that period among all bank tech companies in Automation in Banking, was 23 per year. Last year there were nine. One year was even lower than that with seven.

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http://www.banktech.com/blog/archives/2009/06/consolidation_o.html Architecture/Infrastructure Tue, 30 Jun 2009 10:00:12 -0500
<![CDATA[A Dose of Transparency Crucial to Rebuilding Bank Trust]]> By Ashok Vemuri, Infosys Technologies

Though you wouldn’t know it from reading today’s headlines, America’s banking history is one littered with a number of principled and driven personalities who went to any length to maintain the public’s faith in the financial system as a whole. In October of 1907, John Pierpont Morgan rounded up a consortium of his contemporaries to stem a potentially disastrous run on the Trust Company of America. Personal wealth was pledged, handshake agreements were made and kept, and in the end confidence in the United States’ banking system was restored—at least for the time being.

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http://www.banktech.com/blog/archives/2009/06/a_dose_of_trans.html Regulation/Compliance Mon, 29 Jun 2009 09:26:35 -0500
<![CDATA[Mobile Financial Services Climbing Out of the Crisis Mire]]> Yesterday, I was took part in a panel discussion hosted by InformationWeek, BS&T’s sister publication, about mobile banking and payments. Along with myself were Doug Brown, Bank of America’s SVP, mobile product development; Charles Landry, VP and general manager with VeriSign, the event’s sponsor; and Lori Beck, director, product management, with Western Union.

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http://www.banktech.com/blog/archives/2009/06/mobile_financia.html Channels Fri, 26 Jun 2009 10:22:14 -0500
<![CDATA[Want to Know What’s Hot in Bank Tech? Ask a Broad Range of Unrelated People]]> Section 3 of my report, Automation in Banking, is reserved for anything outside the box. Thirty-two other sections are inside the box and I don’t apologize for that. There are still conventional things people want to know about bank IT that are very structured and good. I update the contents of the proverbial box every year and no one complains, especially about the 98 exhibits where numbers change and validate a situation more than words can.

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http://www.banktech.com/blog/archives/2009/06/want_to_know_wh.html Architecture/Infrastructure Tue, 23 Jun 2009 09:28:30 -0500
<![CDATA[Addressing Issues Raised in FFIEC’s Risk Management of Remote Deposit Capture]]> By Bruce Rennecker, VP, Product Management, Digital Check

In order to help financial institutions mitigate the risks of remote deposit capture, the Federal Financial Institution Examination Council released guidelines in January to highlight possible problem areas that need to be addressed.

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http://www.banktech.com/blog/archives/2009/06/addressing_issu.html Payments & Cards Mon, 22 Jun 2009 09:23:22 -0500
<![CDATA[Burden of Responsibility for New Era Reg Compliance Ultimately Will Fall on IT]]> President Obama’s proposals for the reform of financial services regulation are wide-ranging. Even if only partially enacted, they will have far-reaching impacts to the way financial services organizations of all types conduct business in the long term. As expected, they have been instantly attacked from the right and the left, and we have already seen declarations of war from industry organizations.

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http://www.banktech.com/blog/archives/2009/06/burden_of_respo.html Regulation/Compliance Thu, 18 Jun 2009 12:50:01 -0500
<![CDATA[77% of the Top 50 U.S. Banks Need Help, and I’m Not Talking TARP]]> It has been 36 years since I had a corporate-type job. I’m now ready to get back into the labor force because the timing is perfect and the need at the top 50 is acute. After living with 45-year-old technologies, large banks have to face the reality of a much-changed world of banking requiring new tech innovations. I’m going to tackle that problem. I have convinced my wife that our CPA will take care of all household business matters and her financial security is intact. But the deal includes no husband for a while. I’ll be very busy for the next five years.

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http://www.banktech.com/blog/archives/2009/06/77_percent_of_t.html Architecture/Infrastructure Tue, 16 Jun 2009 09:26:53 -0500
<![CDATA[Proposed Regulatory Overhaul May Not Quite Be Done Deal]]> The Obama administration finally made public details of its proposed financial regulation overhaul plan. It might not call for the single “super regulator” that the industry has been talking about for months, but it does seek to consolidate and augment the powers of current regulatory agencies, especially the Federal Reserve. It sounds like the goal will be to ensure there is just enough overlap between agencies to avoid any gaps in supervision that could possibly lead us to another economic crisis. If the administration gets its way, a new consumer watchdog agency would be established and the Fed would have more sweeping powers of control over the largest financial institutions.

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http://www.banktech.com/blog/archives/2009/06/proposed_regula.html Regulation/Compliance Mon, 15 Jun 2009 10:33:43 -0500
<![CDATA[Taking an Integrated View of Governance, Risk and Compliance (GRC), Processes and IT]]> Information technology is a fundamental business enabler in today’s financial services sector. Now more than ever, financial institutions are looking to IT solutions to help them address fundamental business challenges — from delivering more personalized customer service to managing risk to improving operational efficiency. The now inextricable link between IT and business operations has fueled a compelling need for FIs to implement comprehensive and holistic IT governance, risk and compliance (GRC) strategies.

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http://www.banktech.com/blog/archives/2009/06/taking_an_integ.html Regulation/Compliance Mon, 15 Jun 2009 09:37:35 -0500
<![CDATA[As Personal Finance Tools Gain Popularity, Where’s Money Going?]]> The news of Microsoft’s dropping its Money software offering really caught my attention. The company says that growing competition from financial institutions and a shift in the way people manage their finances were the main reasons for the move.

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http://www.banktech.com/blog/archives/2009/06/as_personal_fin.html Customer Insight/Business Fri, 12 Jun 2009 10:09:28 -0500
<![CDATA[Six Major Challenges for Bank Tech Companies]]> Look again, folks, it’s not just the economy that’s hurting bank tech companies. The economy will recover, but five other challenges linger for which Ben Bernanke cannot project an end date.

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http://www.banktech.com/blog/archives/2009/06/six_major_chall.html Architecture/Infrastructure Mon, 08 Jun 2009 11:06:36 -0500
<![CDATA[ATM Sourcing Strategies: Get What You Pay For ]]> In today’s retail banking landscape, the role of the ATM can vary from delivering basic “cash-and-dash” functionality to conducting a variety of sophisticated, value-added transactions.

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http://www.banktech.com/blog/archives/2009/06/atm_sourcing_st.html Channels Mon, 08 Jun 2009 10:27:53 -0500
<![CDATA[Solid State Drives Offer Quantum Leaps in Performance for Banks]]> By John Cagle, HP

Solid state technology, such as flash-memory, is a type of storage with no moving parts. When used as a disk drive, it provides a more reliable and higher performing alternative to traditional hard disk drives. Solid state drives (SSDs) have been in use for several years in laptops and, until recently, were associated primarily with consumer products and USB storage devices. However, solid state storage is taking a more prominent role in the enterprise computing market as the cost gap narrows between SSDs and hard drives, and companies demand higher performing systems.

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http://www.banktech.com/blog/archives/2009/06/solid_state_dri.html Architecture/Infrastructure Tue, 02 Jun 2009 15:42:47 -0500
<![CDATA[A College Junior Is the Best Person to Create a Community Bank’s Strategic Plan]]> Relax you Harvard, Stanford, Kellogg, Wharton, Sloan, Booth, Haas, Tuck, Columbia and Yale MBAs. You can’t even get a job after all you’ve learned, which means it’s not about you. It’s the economy, genius.

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http://www.banktech.com/blog/archives/2009/06/a_college_junio.html Management Strategies Mon, 01 Jun 2009 15:49:24 -0500