Hey, chalk one up for the good guys.
A small victory in the fight against credit card fraud is better than none.
Of course, this will probably only slow down the crooks, not stop them completely.
Podcasts for Bankers
IBM's banking industry leaders Mark Greene and Rusty Wiley have been on the road talking about their vision for the industry. Now, you can take their viewpoints on the road using your portable digital audio player with their latest podcast.
I sense the emergence of a media trend...
Don't Be Evil
When banking regulators expressed concern about borrowers getting deeper and deeper into credit card debt, the major card-issuing banks increased their minimum payment requirements from two percent to four percent of outstanding balances. But one bank's making a high-profile move in the other direction.
What if the worst happens and your customers' data is stolen or goes missing? Take a few tips from the financial services industry, which is fast making an art form out of dealing with security breaches.
Remote Deposit Capture: Thick or Thin?
This week's newsletter has a story on Wachovia's implementation of remote deposit capture (RDC).
In it, we revisit the debate over whether RDC is best done using thick-client or a thin-client software. Given the obvious benefits of the software and the competitive need for it, what's your take on the relative merits of the two approaches? Or does it matter?
Please leave your comments on this blog entry.
All Together Now
With the FFIEC's guidance stating that banks should implement two-factor authentication for Internet services that involve sensitive customer information or movement of funds, the status quo in information security in banking has been quickly overturned.
Translated from the Greenspanese...
From Greenspan's speech to the National Italian American Foundation:
Conceptual advances in pricing options and other complex financial products, along with improvements in computer and telecommunications technologies, have significantly lowered the costs of, and expanded the opportunities for, hedging risks that were not readily deflected in earlier decades. The new instruments of risk dispersa
Bank Deploys Anti-Money Laundering System
Standard Chartered has deployed anti-money laundering software from Norkom Technologies to monitor banking transactions and terrorist watch lists for high-risk transactions.
Identrus Poised to Take New Direction
Identrus, the New York-based provider of solutions designed to authenticate all parties in electronic transactions and provider of a global network of identity credentials, has made some significant additions to its executive board.
The Four Most Dangerous Security Myths
A lot of "accepted wisdom" is just flat-out wrong. If you've been told that patches always fix a security hole, or that SSL is all you need to be safe, read on.
Katrina and the Titanic
When the lookout on the Titanic warned the officers on the bridge that the infamous iceberg was looming ahead, first officer William McMaster Murdoch had the engines stopped and reversed. He then ordered the quartermaster to turn the ship hard to port. Bad move. The iceberg sliced through the first five of 16 transverse compartments of the hull. If the ship had hit the iceberg head on, the ship likely would have limped home, and we would have been spared the sight of Leonardo DiCaprio on the bow
All Hail the Wisdom of the Senate
Letter from House Judiciary Committee Chairman James Sensenbrenner (R-Wis.)
"The loss of income and additional expenses that these victims incur as a result of a hurricane or other natural disaster are implicitly the kind of special circumstances that Congress envisioned would constitute an exception to the [Bankruptcy] Act's means test reforms."
The Toughest Job in Banking
Here's a New York Times story about Liberty Bank and Trust, which is trying to recover from Katrina, as well as the steady depletion of its assets as customers withdraw their savings.
Stop Making Cents
Bank of America Offers Round-Up Savings Account
If you sign up for Bank of America's new service, every time you charge something on a debit card, they'll round up to the nearest dollar and put the loose change in a savings account. Now if they only rounded up to the nearest $100, we would have a fighting chance of increas