Content posted in October 2002
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Putting Customer Relationship Management (CRM) to Work in Internet Banking: The Chicken or the Egg?
The early adopters of online banking services in the United States have already chosen their FSIs; Customers that are active users of online banking are more valuable than any other segment of customers.
The ATM as a Customer Focused Services Channel
Using ATMs for improved customer relationships and greater profits.
E-Checks Gaining Acceptance
E-check payments have grown 300% over the past year, according to information recently released by NACHA.
Check 21 Proponents Say E-Checks Can't Be Grounded
Under the proposed "Check Clearing for the 21st Century Act," banks could truncate the original checks and replace them with either paper or digital substitutes, thus mitigating a potential weakness in the payments system.
New Wells Fargo Product Combines Mortgage And Home Equity Lines
The Home Asset Management Account merges mortgage and home equity lines of credit into a single account.
Executive Changes
Corillian Corporation announced that its board of directors has promoted the company's president, Alex Hart, to interim chief executive officer; ABN AMRO Bank's Global Trade & Advisory group has hired two new directors; City Networks names Ken O'Brien vice president for North American Sales.
International Bytes
Arab National Bank launches an anti-money laundering and fraud detection system from ACI Worldwide; Hokuriku and Ashikaga Banks roll out an ASP solution from NTTDATA and FNX Limited; Siam City Bank chooses straight through processing (STP) and trade processing solutions from Reuters.
North America Bytes
National Bank of Canada's New York State operations will use a custom outsourcing solution from Fiserv; Ventura County Credit Union will provide enhanced online banking services to its members by converting to Voyager Special Edition (SE) from Corillian Corporation; KeyBank will implement an enterprise analytics package from INEA Corporation.
Association Update
Fiducite to hold a one-day event on new technology trends in the financial services industry; new speakers added to the BioDefense Mobilization Conference & Exhibition.
Pressure from All Sides
As check fraud, money laundering and kiting schemes grow more sophisticated, new laws ratchet up the pressure on banks to detect such crimes. Fortunately, new technology may help them do that better than ever.
Anti-Money Laundering: A Brave New World for Financial Institutions
An excerpt from a recent report by Celent alerts banks to business areas that will require modification in light of new anti-money laundering regulations.
Tool Lets BofA Advisors See The Big Picture
In wanting to encourage long-term relationships with its retail brokerage customers, Bank of America has very much a 21st-century outlook. Until recently, however, it had to make do with Stone Age tools.
Web Services: What's All the Buzz About?
The hands-down winner of Buzzword of the Year for 2002 is Web services.
Mortgage Banker Revamps Call Center
American Home Mortgage Holdings is upgrading its three call centers with a PBX and contact center package from Alcatel.
Bank of the Sierra Taps MoneyLine
Bank of the Sierra selects MoneyLine Lending Services to provide greater access to innovative mortgage products.
Interlinq Seeks Bank Input On New Product
Interlinq Software has formed a steering committee to provide valuable hands-on input as it finalizes MortgageWareE3, its next-generation lending platform.
Charter One Installs Customer Retention Tool
Charter One Mortgage Corp. installs Portfolio Protect.
SouthTrust Automates Mortgage Operations
SouthTrust Mortgage is using the UniFi Pro Mortgage loan origination and processing system.
Self Storage
As the storage solution provider model falters, banks are developing in-house systems to support information backup.
Risk and Reward
Risk management officials quell suggestions they could have done more to detect accounting scams while acknowledging the system needs improvement.
Converted Thinking
There are several reasons a community bank may choose to migrate to a new core system and take advantage of new features and functionality.
In Search Of New Core Banking Alternatives
The very technology that has made banking easier, faster and more flexible for customers has become a hindrance for banks using older core systems.
Provident Beats Regulators to the Punch
When it comes to compliance risk management, it's better to be proactive.
ABN AMRO Installs Collaboration Software
The wholesale banking unit of ABN AMRO installs one of the largest enterprise collaboration systems in the world.
Slowing Check Volumes Spur Consolidation
As check volumes decline, U.S. banks are increasingly looking to outsourced solutions to control costs.
World Briefs
Westpac Banking Corp. licenses ATM, debit card, POS and telephone banking software from Euronet Worldwide; Taishin International Bank; National Commercial Bank of Saudi Arabia; China Everbright Bank; National Bank of Kazakhstan; and Dubai Bank, United Arab Emirates, have licensed core banking technology from HP; HDFC Bank installs TreasuryTrader.
Standard Chartered Installs Desktop Support System
Standard Chartered Bank installs a desktop support system to manage the 31,500 servers, desktops and laptops it has scattered around the world.
Banco Credito del Peru Renews Alltel Contract
Banco Credito del Peru and Alltel hope that the next seven years of their relationship will provide fewer headaches than the first seven years.
ABN AMRO Win Buoys EDS
ABN AMRO's decision to tap EDS for a $1.5 billion outsourcing contract is the latest in a string of successes for the Dallas-based IT services company, which like its competitors has been beating the bushes for new business in a sluggish economy.
Bank Bytes
East Boston Savings Bank increases its loan volume by 40 percent in the three years it's used easyLender; Valley National Bank licenses branch and call center management software from S1; Charter One Bank introduces FYI Alerts.
Fed Proposes Using ACH To Carry E-Bills
Federal Reserve Bank of Cleveland and Dollar Bank of Pittsburgh are pushing the idea of using the ACH network as a universal backbone for electronic bill payment.
Municipal Credit Union Gets Looted $20 At A Time
After the September 11 terrorist attacks, MCU's management decided to let NYCE, its ATM network processor, authorize offline transactions.
Bringing Down The Horse
Three new bank branches have opened within a two-block radius of my office in midtown Manhattan. What is interesting is that none of these new branches goes by the name of Citibank or JP Morgan Chase. My new banking neighbors are Commerce Bank, North Fork Bank, and Washington Mutual.
Banks To Spend More On Wealth Management Technology
Despite a downturn in the economy, bank spending on wealth management technologies will post a 5 percent compound annual growth rate over the next three years, according to a new TowerGroup report.
MasterCard and Xign to Provide B2B E-Commerce Solution
MasterCard International has teamed up with Xign Corporation to make it easier for companies to stop paying by check.
Banks To Embrace Web Services Cautiously
Banks will likely become prime users of Web services technology, once some logistical problems are solved.
Check Imaging's Indomitable Rise
Gomez research shows consumers are not merely interested in check imaging; they are eager to the point where they are willing to forgo many other features banks offer in order to access documents online.
Adversity Brings Out The Best In Banks
Companies assess their strengths and update services, security, and strategy in the wake of September 11, corporate scandals and a weak economy.
Executive Changes
Tony Petrillo named director of technical services for TOWER Technology; BrokerTec Clearing Company appoints Frank Perrone chairman and Ronald Filler vice chairman.
International Bytes
BANCAJA Group and ABN AMRO establish trade payments partnership in Asia; The Australia and New Zealand Banking Group launches Global PAYplus payment system from Fundtech in its New Zealand properties; Cape of Good Hope Bank goes live with Trema's Finance KIT for its treasury and risk management departments.
North America Bytes
Republic Bank of Chicago chooses Metavante Corporation to outsource its core processing; National City Bank Corporation selects InterChange from Netik to provide enterprise-wide application integration and automation for SWIFT message processing; American Savings Bank deploys an e-messaging suite from ZixCorp.
Association Update
More then 200 million e-check payments were made during the first half of 2002, according to statistics released by NACHA; The Independent Community Bankers of America will recognize and support the Electronic Check Clearing House Organization rules for electronic check presentment.
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Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.
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