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News & Commentary
Content posted in May 2007
New Systems Need A Test Between Alpha And Beta: I Call It The Dummy Test
News  |  5/29/2007
By Art Gillis Every time I walk by the aisle in the book store where the books for dummies are stacked, I feel like I want to buy all of them. So please do not be offended when I use the term "dummy" in the context of technology. The reason for an Alpha Test is to assure the developers that the system works, in a controlled environment, as they had designed it. The reason for the Beta Test is to assure the users that the new system works in the real world as their business pro
The Competitive Edge: Dimon and Kovacevich to Chair Competitiveness Commission.
News  |  5/24/2007
By Maria Bruno-Britz Keeping the U.S. at the forefront of technology and innovation seems to be on the agendas of many committees and conferences these days. Earlier this month, the Technology Innovation and Manufacturing Stimulation Act of 2007 was passed by the U.S. House of Representatives. The legislation earmarks new funds for the National Institute of Standards & Technology (NIST), reauthorizing seve
Tech Vendors Should Be As Good As My Plumber --- Performance One Can Genuinely Admire
News  |  5/21/2007
By Art Gillis First, why am I interfering in my wife's domain? Because life dictates the need for flexibility, and even though household management is her territory, family obligations demanded her presence in New England. That didn't stop the faucet from dripping, however. So I stayed home to "manage" the situation with our plumber.
Open Solutions' Waggoner Passes Away
News  |  5/18/2007
By Maria Bruno-Britz Cliff Waggoner, co-founder and chief architect of data processing solutions provider Open Solutions (Glastonbury, Conn.), passed away May 11 after a battle with cancer. He was 66.
Greensburg State Bank Shows Banking Industry's Determination In the Face of Disaster
News  |  5/18/2007
By Maria Bruno-Britz Here's a neat little come-back story. Greensburg State Bank, a small financial institution based in Greensburg, Kan., lost its only building to an F5 tornado that slammed through the area earlier this month. The twister wrought a trail of devastation throughout the town, leaving many without their homes, businesses and even their lives.
How Can Technology Help A Bank's Process Improvement Program?
News  |  5/14/2007
By Michael D. Nichols, Nichols Quality Associates It is an undisputed fact that technology has had a major impact on service processes over the last four decades. From customer service call centers to online checking accounts, it is hard to find a key business process at a financial services firm that does not have a significant investment in technology supporting it. Because of this, one would expect that technology departments are leading the charge with modern-era process improvement effor
Six Bank Tech Company CEOs Agree On At Least One Thing - It's Going To Be The Big Six Core Solutions Companies Minus X
News  |  5/14/2007
By Art Gillis The only thing they wouldn't say is when.
A New Era In The Banking Technology Business?
Commentary  |  5/14/2007
Recent news about Citigroup's restructuring and IT staff cuts, as well as private equity firm investments in bank systems vendors First Data Corp. and Metavante could signify a new era of restructuring within the banking technology business.
Banks Stake Out Similar Growth Strategies, But Fall Short of Customer Focused Ambitions
News  |  5/14/2007
New SAP study finds that banks aren't meeting their own IT expectations By Nancy Feig
SunTrust's Nick Alex Examines the Lack of Standards in Commercial Payments
News  |  5/11/2007
By Maria Bruno-Britz Standards has long been a topic of discussion in payments circles. The ability to provide clients with standard formats for payment reporting, submission, etc. could do wonders for customer relationships, say experts, in that the bank can offer its commercial clients a slew of value added services around a more straight-forward, integrated view of their payments. Then why is the world still operating with
Fraudsters Hunting Smaller Game Online
News  |  5/10/2007
By Maria Bruno-Britz When asked in an interview what she saw as some of the most significant trends in security in the financial services space, Gartner's Avivah Litan, VP, distinguished analyst, said that one of the most visible is that fraudsters such as phishers "are moving downstream to smaller banks. The attacks just don't stop." An increasing body of evidence shows that if you're a small or midsize bank or credit union, or small or midsize business period, you are more likely to be in the
Check printer companies are like restaurants serving trans fats. We all know their products are declining but if you're the only one left in a declining products business, it can become a booming company.
News  |  5/7/2007
By Art Gillis MFW stock was trading at about $19 a share when it announced the acquisition of John H. Harland, the check-printing company.
Bank Tech Experts Discuss Vendor Relationships
News  |  5/4/2007
Increasing security, oursourcing and offshoring are among issues of concern.
News  |  5/4/2007
First Tennessee Bank taps LogicaCMG payments solution
Commerce Bank Deploys Fortent's AML System
Fifth Third Implements SunGard's Kiodex
UMB Deploys Oracle's Siebel Applications
Compressed Margins, Advanced Technology, Mature Data Stores Lead Banks to Price Optimization
News  |  5/4/2007
Price optimization promises increased profits. But banks remain quiet about their price optimization strategies and technologies.
Early Image Exchange Pays Off
News  |  5/4/2007
Gary McKnight's banking career has progressed a long way since he worked nights in the item processing shop of now-defunct First City Bank (Houston) while attending college. Today, as senior executive vice president at Frost Bank ($13.2 billion), a subsidiary of San Antonio-based Cullen/Frost Bankers, McKnight heads technology and deposit operations, including item processing.
Journey to the Core: Four Banks and Their Replacement Stories
News  |  5/4/2007
Celent Roundtable covers the latest trends, main drivers, and the challenges of core replacement. By Nancy Feig
Citi to Buy Bisys for $800 Mn
News  |  5/4/2007
By Maria Bruno-Britz New York-based Citi plans to purchase outsourced services provider The Bisys Group (New York) for approximately $800 million. The financial services firm plans to retain the Investment Services Division of Bisys, which includes the Fund Services and Alternative Investment Services businesses in order to beef up its own position in the hedge and mutual fun
Williams to Serve as New BITS President
News  |  5/4/2007
By Maria Bruno-Britz Leigh Williams was selected to serve as president of BITS, the business strategy and technology division of The Financial Services Roundtable, the Washington-based financial services public policy group. Williams will replace founding BITS CEO, Catherine Allen, who announced in January that she would step down from her CEO role, effective May 1.
News  |  5/4/2007
Fair Isaac Releases Blaze Advisor Upgrade
3VR Unveils Check Fraud Tool
Axway Introduced Two-Factor Authentication Software
Core Processor Conversion Leads Columbia Banking System To Adopt Fiserv easyLENDER
News  |  5/3/2007
Amid a core conversion, Columbia Banking System updates loan origination with easyLENDER.
News  |  5/3/2007
Stillwater National Bank deploys PGP platform for e-mail, laptop and file encryption.
Executive News
News  |  5/3/2007
Bixby Joins Capitol
Davis Named WVB CIO
ING Infrastructure Head
Ghiglieri to Chair ICBA
Husk to Head FRS
Fraud Techniques Evolve in Parallel with Bank Products and Defenses
News  |  5/3/2007
In developing their own multichannel strategies, fraudsters prove once again that their techniques can evolve in parallel to bank tech trends. Now it's up to banks to show they can stay a step ahead of the crooks.
Technological Improvements Crucial To Greater Transparency In Banking Supervision
News  |  5/3/2007
Direct government supervision of banks may actually drive corruption in some countries, study suggests.
Fear Of Identity Theft Discourages Consumers From Banking Online
News  |  5/3/2007
Proactive security measures increase online banking confidence and use, study says.
Corporate Clients Increasingly Favor Card Payments, Visa Says
News  |  5/3/2007
Survey finds that banks' corporate clients understand the value of e-payments.
For Money Transfers, Going Solo Not the Best Route for Banks
News  |  5/3/2007
Banks should partner with money transmitters, study says.
Metavante Teams with Temenos and Goes Independent
News  |  5/3/2007
Millwaukee-based financial solutions provider Metavante and Temenos Group, the Geneva-based core systems provider, will sell the Temenos core banking solution (TCB) in the U.S.
IBM Launches Loan Fulfillment Company
News  |  5/3/2007
IBM Lender Business Process Services (LBPS) will enable mortgage lenders to replace the fixed costs associated with typical loan fulfillment operations with a variable-cost framework, freeing up lenders to focus on providing better service and support to consumers, according to IBM.
Big Deals
News  |  5/3/2007
BB&T Renews With FIS, SunTrust Selects Visa, Navistar Goes With Oracle, Erste Bank Taps Calypso, First Data To Be Acquired, and more
IP-Based Surveillance Leads to Capture of Serial Bank Robber
News  |  5/3/2007
IP-based surveillance leads to capture of serial bank robber.
Convenience or Security?
News  |  5/3/2007
By Maria Bruno-Britz Security is on everyone's mind these days. And how can't it be, with all the media attention given to various data breaches and phishes over the past year? So it's no surprise to see security technology vendors go on the offensive and introduce new solutions to the problem.
Maximizing Channel Performance - Still Frustrating After All These Years
News  |  5/1/2007
Consumer banking is the largest single area of technology-related spending in banking, according to Financial Insights. But how many banks are really getting the most for their money in retail banking? How many financial institutions are really gaining more consumer insight; building use of alternative channels; improving customer loyalty and retention

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