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News & Commentary
Content posted in June 2012
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Global Bank Watchdog Turns Eye to Big National Banks
News  |  6/29/2012
Global banking regulators have mapped out how they will tighten up supervision of big domestic banks from 2016 in a bid to avoid calling on taxpayers if they fail.
'High Roller' Online Financial Fraud Ring Robs Big Money Bank Accounts
Commentary  |  6/29/2012
Attackers do their dirty work from their own cloud-based server infrastructure rather than on the victim's PC in order to camouflage the crime.
Citigroup Hires New Head of Mobile Consumer Services
News  |  6/29/2012
Christy Wyatt, formerly of Motorola, will lead the company's online, mobile and ATM consumer banking operations.
CFPB to Examine Mobile Payments
News  |  6/29/2012
The regulatory agency said it is going to examine the potential harm for consumers around mobile payments.
The Slow March Toward EMV Adoption in the U.S.
Commentary  |  6/28/2012
The Chase Paymentech "Future Proof" terminal is the latest EMV-related announcement.
The Golden Age of Loyalty Rewards
Commentary  |  6/28/2012
Enrollment in loyalty programs is rapidly rising across the financial services industry.
JPMorgan Drops On Report Trade Loss Could Be Bigger
News  |  6/28/2012
JPMorgan Chase & Co came under renewed scrutiny after the New York Times reported that losses from a bungled credit-derivatives trade could be as much as $9 billion, much more than earlier estimated.
Cyber Fraud Is Going Global, FBI Sting Reveals
News  |  6/27/2012
Banks need to respond to a new fraud environment where fraudsters have online anonymity and the ability to connect international through the internet.
New Cloud-Based End-to-End Electronic Account Management Service Launched
News  |  6/27/2012
The service offers new electronic bank account management through SWIFT and is the product of a partnership between Fundtech and Open Solutions Inc.
Big Banks Craft 'Living Wills' in Case They Fail
News  |  6/27/2012
Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.
Mobile Payments Interest Rising: Report
News  |  6/27/2012
The transition of payments from a piece of plastic to a Web-connected communications channel is opening a wealth of opportunities, says Aite Group.
New Video Banking Assistance System Allows Customers to Conference with Remote Experts
News  |  6/26/2012
The new SmartOFFICE system from uGenius will allow experts to interact with customers at multiple locations remotely.
HNW Launches Retail Banking Practice
News  |  6/26/2012
The newest practice of the firm will focus on delivering a wide range of integrated marketing solutions primarily for retail banks.
Bank Bailout to Spark Firesale of Corporate Spain
News  |  6/26/2012
The European bailout for Spain's banks will push them to sell an empire of stakes in the nation's top companies, ending a cozy culture of corporate-banking links and prompting a wider shake-up in ownership of the company landscape.
Major Acquisition in Mobile Money Market Completed
News  |  6/26/2012
Monitise, a British mobile money tech company, acquires a former competitor in California-based Clairmail.
Salary Survey Results: Automation Push and Data Analysis Strengthens Financial Services IT Job Market
News  |  6/25/2012
After several years of painful cuts, the market for IT talent in the financial services industry is strengthening.
Shiver Me timbers! The Bankers Are Boarding
News  |  6/25/2012
With the crisis in the shipping market now in its fourth year, bankers are putting to sea and seizing ships to protect the value of their loans to struggling shipowners.
RIM Considers Splitting Business in Two
News  |  6/25/2012
BlackBerry maker Research in Motion is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network, The Sunday Times reported.
New Digital Platform Automates and Centralizes Corporate Payments
News  |  6/25/2012
American Express rolls out PAYVE, a new digital payments platform designed to help companies make their payments strategy more efficient and less costly.
Dodd-Frank, Two Years Later: What Has It Meant for Bank IT?
Slideshows  |  6/25/2012
As more provisions of Dodd-Frank go into effect, how have banks responded to comply to the new regulations? What are some technologies they are adopting to help?
Bank of America Executive Places Importance on Risk Management as New Banking Technologies Emerge
News  |  6/24/2012
As Bank of America's top global technology and operations executive, Cathy Bessant oversees the infrastructure that makes the bank hum. Whether it's pursuing efficiency, streamlining operations, cutting costs or reducing risk, Bessant and her team support it all.
The Pursuit of New Revenue Generators: How Banks Can Monetize New Digital Technologies
News  |  6/24/2012
Given new regulatory statutes and changing consumer habits, banks' revenue generators of 10 years from now almost certainly will not be the same as today's. While mobile and other emerging technologies offer exciting new opportunities for banks, however, they must figure out how to meet customers' expectations and best monetize these new channels.While mobile and other emerging technologies offer exciting new opportunities, banks must determine how to meet customers' expectations and best moneti
5 Keys to Putting Non-Bank Competitors in Their Place
News  |  6/24/2012
To stave off the threat from alternative financial services providers and retain their place as consumers' trusted providers of choice, banks must learn from the very non-bank competitors that seek to disintermediate them.
New Study by Accenture Sees Threat and Opportunity in Cloud-Based Services
News  |  6/22/2012
By leveraging social and mobile media, cloud-based services could help banks improve improve customer services and loyalty, but could also accelerate disintermediation.
Mobile Banking Spend on the Rise
News  |  6/22/2012
12 Bank Acquisition Deals So Far in June
News  |  6/21/2012
According to SNL Financial, there have been 99 M&A deals in the banking industry in 2012 so far.
Mobile Banking is Here to Stay
Slideshows  |  6/21/2012
If there was one overarching theme that came out of Bank Systems & Technology's Virtual Event "How Mobile Is Transforming Banking's Competitive Landscape" on Thursday it's that mobile is indeed the future. While mobile banking adoption sits in the 10-15 percent or so range -- and even less for tablet banking -- the numbers are increasing every day, as technology continues to rapidly advance. It's not a stretch to say that within five years, most bank customers with access their account via a mob
Wells Fargo Looking to Move Some Jobs to India, Philippines
News  |  6/21/2012
Wells Fargo & Co, the fourth-largest U.S. bank by assets, is looking to move some jobs outside the United States as it pushes forward with a company-wide cost-cutting program, a spokeswoman said on Wednesday.
Moody's Set to Cut Top Global Banks Thursday
News  |  6/21/2012
Ratings agency Moody's will announce its downgrades of many of the world's biggest banks later on Thursday, Sky News reported.
Dissatisfaction Still Looms 6 Months After Bank Transfer Day
News  |  6/20/2012
A new report from Javelin Strategy & Research finds that big banks are still vulnerable to losing customers.
The Branch Reborn
News  |  6/20/2012
A new study by Cisco says that banks need to understand that the branch is here to stay, but it needs to be transformed.
JPMorgan Sold Most of 'London Whale' Position
News  |  6/20/2012
JPMorgan Chase & Co has sold as much as 70 percent of the controversial position that caused huge trading losses for the bank, CNBC reported on Wednesday.
Dimon Tops Bank Executive Compensation List
News  |  6/20/2012
According to research from SNL Financial, the JPMorgan Chase CEO earned $23.1 million in total compensation in 2011
6 Steps for Building the Next-Gen Bank IT Workforce
News  |  6/19/2012
Bank technology organizations increasingly require new capabilities that go well beyond traditional IT skills. Here are six challenges banks must address in building the IT workforce of the future.
BBVA Compass Launches Updated Android App
News  |  6/19/2012
The version 2.0 app gives users to ability pay bills as well as view check images, transaction receipts, account charts and payments.
Kicking the Bank Fee Habit
Commentary  |  6/19/2012
The future of banking will be based on profitable customer relationships, not transaction-based fees. But can banks really adopt a new -- and healthier -- business model?
Mobile Check Deposit Is Quickly Becoming a Must-Have
News  |  6/19/2012
Customers increasingly expect to be able to deposit checks via their smartphones, and BB&T has become the latest bank to add mobile check deposit capabilities to its app.
CFPB Debuts New Credit Card Consumer Complaint Database
News  |  6/19/2012
The database will compile and track consumer complaints to prevent credit card fraud.
Microsoft's Tablet No Threat to iPad
News  |  6/19/2012
Microsoft Corp's new tablet computers are no threat to Apple Inc's iPad, given the lack of enthusiasm among developers to create applications that run on the new Windows operating system, analysts said.
Mercator, ATM Group Partner on Research Initiative
News  |  6/19/2012
The research firm and the ATM Industry Association will cooperate on conferences, webinars, workshops and research to study the role of the ATM in today's multi-channel environment.
Associated Bank Boosts Sales By Boosting Collaboration
News  |  6/19/2012
Associated Bank breaks down silos within its commercial banking sales unit and increases cross-selling by adopting the SAVO Group's sales enablement collaboration environment.
Huntington National Bank CIO Stephen George Looks to Technological Innovation to Support Growth
News  |  6/19/2012
As the recently appointed CIO for retail and business banking at Huntington National Bank, Stephen George is excited about technology's role in driving the bank's overall growth strategy.
SAP Releases New System For Streamlining the Introduction of New Technologies
News  |  6/18/2012
The Rapid Deployment software makes it easier, cheaper and less risky for banks to implement new technologies.
Allied Bank Limited Launches Mobile Banking
News  |  6/18/2012
The Pakistani bank has partnered with Sybase 365 and AbacusConsulting to offer the service to its customers.
Three Banks Shuttered by Federal Regulators Last week, FDIC says
News  |  6/18/2012
Closures bring the total number of US banks shut down by regulators this year to 31.
French Banks to Continue Retreat After Greek Vote
News  |  6/18/2012
French banks, the top foreign lenders to Greece, are expected to continue their quiet retreat from the debt-wracked country after Greek voters gave a slim majority to parties supporting the international bailout that keeps it afloat.
Facebook and Video Games: Is This the Bank of the Future?
Commentary  |  6/18/2012
Polish Bank Alior has unveiled a digital bank that includes Facebook payments and an "entertainment area."
Dell Made Rival $2.15 Billion Bid for Quest
News  |  6/15/2012
Dell Inc is the "strategic bidder" that offered to buy Quest Software for $2.15 billion in cash, trumping a bid by Insight Venture Partners, sources familiar with the matter told Reuters.
The Next Generation of Rewards Programs
Commentary  |  6/15/2012
How banks can leverage rewards programs in the midst of consumer privacy debates and changing regulatory waters.
Intuit Launches Mobile Rewards Product for iPhone and Android
News  |  6/15/2012
Mobile Banking Purchase Rewards encourages saving and allows bank customers to get merchant-funded rewards, says Intuit.
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