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Perspectives The Credit Crisis Leaves Far-Reaching Consequences for the Banking Industry. Weathering the fallout of the credit crisis, banks will need to transform their lending, underwriting and credit risk management practices. In Wake of Credit Crunch, Service Remains Key to Profits Even amid economic turmoil and looming regulatory changes, making a profit, exceeding customer expectations and maintaining a knowledgeable staff remain the cornerstones to good business. Automation Allows Banks to Better Navigate Compliance and Risk Management By shrewdly leveraging existing and emerging technology, banks can optimize risk management practices and stay ahead of changing regulations. In the Aftermath of the Credit Crisis, Some Banks See a Silver Lining Despite the ramifications of the credit crunch on a wide range of lending lines, many banks -- particularly community banks -- are finding new opportunities in its wake. Effective Risk Management Demands Transparency Across Organization Banks' senior managers, boards, and risk controllers -- the risk trinity -- must work together to achieve a robust, balanced approach to valuation practices, liquidity management and data analysis. false Telepresence and videoconferencing promise to improve customer service, cross-selling efforts, training, and more — but how can banks best utilize the emerging technologies? As Vendors Introduce Less-Expensive Technologies, Banks Can Capitalize on the Promise of Videoconferencing and Telepresence By allowing participants to see and read each other's body language, telepresence and videoconferencing bolster customer confidence and satisfaction as well as enhance interoffice communications such as training sessions, meetings and interviews. Telepresence Allows Banks to Bring Together Global Resources While Offering Quick Return on Investment To best utilize telepresence to improve customer satisfaction and realize enhanced productivity, banks should consider choosing flexible configurations and multipoint capabilities. As Telepresence Becomes More Common in Banking, Use Will Expand to Intercompany Applications To communicate with the greatest number of customers, partners, vendors, and employees, banks can explore a variety of in-house and outsourced telepresence solutions. Telepresence Solutions Help Organizations Enhance Customer Service, Performance and Operations As vendors continue to broaden the telepresence portfolio and banks evolve their network and IT infrastructure, real-time video communication will become increasingly standard. Data Warehouses Permit a Holistic View of Customers’ Activities Data warehouses and automated transaction monitoring systems are valuable risk-assessment tools that allow banks a clear view of customers' universe of activity. Integrating Systems Essential to AML and SAR Compliance To follow regulators' requirements, banks must leverage and coordinate compliance, risk management and IT department efforts. Shrewd Leveraging of Technology and Staff Key to Achieving Cost-Effective AML Compliance By automating and streamlining procedures and data management, as well as continually enhancing employees' skills, banks can improve productivity and effectively balance compliance with cost-cutting. |19789|18059|18273|17439 As banks look to step up efforts to monitor their customers' financial activities and comply with increasingly stringent anti-money laundering regulations, what kinds of technologies, processes and information are essential to building an effective and accurate AML program? And what new AML challenges are banks likely to face in coming months? Knowledgeable Personnel and Flexible AML/CFT Programs Are Banks’ First, Best Line of Defense In conjunction with training and empowering staff, banks must develop adaptable, robust programs to comply with changing AML/CFT guidelines. Corporate Clients Increasingly Looking to Banks to Mitigate Trade Finance Risks Corporations operating in the current economic turmoil increasingly are turning to their banks to serve as financial intermediaries between them and their trading partners to mitigate supply chain risk. The Credit Crisis Has Increased Scrutiny on Trade Finance The global credit crisis has emphasized the importance of cash management while intensifying the spotlight on corporate governance and banks' risk management practices. What new demands will corporates place on their banks in the current uncertain economic environment, and how can banks pursue growth opportunities in global trade finance? By Understanding the Supply Chain, Savvy Banks Can Grow Their Trade Finance Business By supporting their clients' suppliers, banks can reach deeper into the supply chain and create opportunities to increase their trade finance business. Centralized and Single-Platform Operations Reduce Overall Trade Finance Risk Burdened with stricter compliance and regulatory requirements, banks with centralized operations and banks with all of their operations on a single platform face lower risk in expanding their trade finance operations. Trade Debt Continues to Be an Attractive Investment Option in a Shaky Global Economy In a global economy rocked by subprime debt defaults, trade debt should continue to be looked at as a stable investment opportunity, thanks to both time-tested and cutting-edge tools to provide for the financing and settlement of commercial transactions. Health Savings Accounts Present Huge Opportunity to Banks Health Savings Accounts HSAs offer banks an opportunity to attract new deposits and deepen business banking relationships. But the extent to which they must service account holders, plus banks' ability to navigate regulatory requirements, may determine if they can seize that opportunity. First Tennessee Bank Expands Deposits Footprint First Tennessee Bank launched remote deposit capture in 2003 as a way to expand its deposits beyond its traditional footprint. Remote Deposit Capture Poised for Explosive Growth Remote deposit capture has the potential to do for business customers what ATMs and debit cards have done for retail customers through self-service and convenient 24/7 access. More Banks Adopting Remote Deposit Capture Solutions A growing number of financial institutions have embraced remote deposit capture as a viable small and midsize business solution. Banks Will Face Competition in the RDC Space Third parties that can decouple remote deposit capture from the deposit relationship may pose a threat to banks in the payments space. Banks Eye Wealth Management Market As baby boomers transition into retirement, the wealth management market is more promising than ever. To grab a piece of this lucrative opportunity, banks must deploy analytics to segment and identify the needs of consumers and develop customer-centric offerings. Online Account Opening Provides Myriad Benefits to Retail Banks Online Account Opening From processing efficiencies to competitive differentiation, online account opening offers myriad benefits to retail banks. A successful online account-opening program, however, requires the right products and capabilities, including fraud protection and real-time decisioning. Banks Are the First Line of Defense Against Money Laundering Databases and modeling tools are among the systems helping banks analyze the data required to understand customers, monitor millions of transactions and identify suspicious behavior. Bank CIOs Must Combine Tech Expertise With Business Acumen Bank CIOs these days must be tech savvy and have good business sense, but they also must be capable of dealing with an accelerated pace of change on an increasingly global stage. Bank IT Organizations Must Balance Risks and Rewards of Technology Innovation Banks that seek competitive advantage through technology innovation, such as implementation of Web 2.0 technologies such as blogs and wikis, must balance the risks with the marketing opportunities. Bank IT Organizations Must Balance Risks and Rewards of Technology Innovation Banks that seek competitive advantage through technology innovation, such as implementation of Web 2.0 technologies such as blogs and wikis, must balance the risks with the marketing opportunities. Bank Execs Discuss ATM Technology Developments ATMs Technology developments and functionality enhancements, as well as emerging global economies, offer opportunities for ATM advancement. Bank Tech Experts Debate The Business Case For A Core Systems Transformation To enable more agile business processes and improve service, banks must transform their legacy core systems. But given the resources required, the business case for a core systems transformation and the selection of a solution must be based on delivering long-term value. Bank Tech Experts Discuss Vendor Relationships Increasing security, oursourcing and offshoring are among issues of concern. What It Takes to Serve the Small and Mid-Size Business Market Small and Mid-Size Business Market Banks looking to build their presence in the small and mid-size business market should focus on providing online tools that can help these customers become more efficient in handling their cash management and payment needs. New E-Discovery Rules Pose Challenges for Banks Banks need to focus on putting policies in place to govern electronic information, say experts. Show Me the Value Industry association executives speculate on the top challenges, opportunities and trends facing the banking industry in 2007. IT Asset Management: From the Data Center to the Desktop IT Asset Management For banks, effective IT asset management is necessary for both regulatory and contractual compliance. But it also can improve lifecycle management, identify underutilized hardware and software, and reduce inventories, resulting in significant cost savings. ECM Enterprise content management enables banks to distribute and act on content from virtually any source, and promises to improve productivity, cut costs and enhance service. Converged Communications Traditionally touted for their cost savings and enhanced functionality, Voice Over Internet Protocol (VOIP) and IP telephony now are helping banks to improve resource management, business continuity, customer service and overall performance. Identity Management To secure customer data, banks must employ appropriate policies and procedures, and educate employees and customers -- as well as implement technology solutions. Keeping security from becoming too onerous, however, can be a challenge. Executives from HP, Novell, Microsoft and Sun Microsystems Discuss Different Types of Operating Systems Available to Banks and How They Should Go About Selecting the Right One Selecting the right operating system can help banks support critical applications, driving growth while providing scalability and security. With an almost overwhelming array of choices, however, how can banks decide which operating environment is the right one? Security Outlook A plethora of high-profile data breaches and concerns about identity theft have put the banking industry on high alert. To secure their information assets, banks must implement a cross-channel, multilayered approach that extends beyond technology. SOA and Grid The emergence of service-oriented architecture and grid computing offers banks the promise of a flexible, scalable IT infrastructure. But creating an open architecture doesn't come without challenges, such as upgrading legacy systems and chang Demographic Trends How are bank customers changing, and what must financial institutions do to meet these evolving requirements? Establishing flexible infrastructures and adapting systems to provide appropriate customer support and product development are critical steps. Business Intelligence Banks increasingly are turning to business intelligence (BI) tools to transform data into actionable information. By helping banks better understand customers' needs, BI initiatives can create competitive advantage and lead to increased customer wallet share. Perspactives: Outsourcing Outsourcing Having accepted outsourcing and offshoring as more than cost-cutting strategies, banks are reevaluating which parts of their businesses to outsource. As a result, they're not only gaining efficiencies and access to better technology, but also improving their operating models. The Evolving CIO Increasingly, today's banking CIOs are called upon to achieve corporate objectives as partners of the business. As a result, strategy has become as much a part of the job as technology, according to experts, including three "Innovative CIOs" profiled by BS&T in 2004. Mergers & Acquisitions Technology assets can be the drivers behind a merger or acquisition, and integrating systems post-merger often presents the biggest challenge to realizing the value of a deal. To navigate M&As successfully, banks must establish a plan and communicate it across the enterprise. Speed to Market Achieving speed to market can provide banks with a competitive advantage. But they need flexible technology infrastructures to achieve speed-to-market strategies, and launching products just for the sake of offering something new won't win banks new business.
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