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News & Commentary
Content posted in January 2008
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Internal Fraud Still a Danger as Banks Adjust Strategy
News  |  1/31/2008
As internal fraud increases, banks are turning their attention -- and systems -- toward monitoring employees.
City National Bank Appoints Rodney Banks VP of Commercial Banking Services
News  |  1/30/2008
As the new executive VP and manager of commercial banking services at City National Bank, Banks says CRM solutions will be more vital now than ever before.
Swedish Banker Unplugs Fraudsters
News  |  1/30/2008
Wow. Talk about catching something in the nick of time. According to an AP report, a gang of fraudsters in Sweden were just seconds from pulling off a heist worth millions when an alert bank employee literally yanked the plug on the activity.
The Sky Might Be Falling, But IT Companies Are Protected
News  |  1/29/2008
Three conditions affecting the banking business seem quite real and have already become visible in the form of poor earnings reports from the giants - losses in investment banking, the credit crunch and subprime mortgages. So it's natural to look to the left and right for other industries that might be affected. Of course, IT is a likely candidate for losses because as bank profitability goes, so goes IT investment. Maybe.
10 Corporate Concerns About SEPA
News  |  1/28/2008
According to the B.I.S.S. Research there are 10 main areas of concern surrounding SEPA among corporates.
Only 1 Percent of No-File Consumers Declared Bankrupcy
News  |  1/28/2008
Consumers with no credit files actually can prove to be good risks compared to consumers with full credit files when factors other than credit scores are examined.
The Dynamic Duo: IT and Legal Working Together to Beat the Bad Guys
News  |  1/28/2008
A tight alliance between legal and IT teams can better enhance banks' security efforts.
How Will Consolidation in the Document Management Sector Affect Banks?
Commentary  |  1/25/2008
Recently announced mergers between Exstream Software and HP, and Document Sciences and EMC, highlight the importance of document management technologies in the financial services industry.
J. Randolph Bryan Named COO of First Trust Corp.
News  |  1/25/2008
Bryan was executive VP of sales at Capital One before joining First Trust.
News  |  1/25/2008
KeyBank's PayWorks payroll card is an unbranded, PIN-based debit payroll card that employers can offer their workers.
What Not to Do with Technology and Customer Service, Part 2: Too Much Technology?
News  |  1/25/2008
A couple of weeks ago, I posted a blog bemoaning my miserable customer service experience with United Airlines. It's basically a my mini guide for banks illustrating what they should not do when a customer has a problem that needs to be resolved. My United "incident" illustrated what a poor marriage of IT and people can do to a company's reputation in the eyes of the customer.
CommunityOne Streamlines HR Functions
News  |  1/25/2008
CommunityOne implements a hosted time and attendance solution to streamline HR functions.
People's United Bank Automates Entitlements
News  |  1/25/2008
People's United establishes automated user ID and access management system with Courion.
UMB Bank Taps Trillium for Data Consolidation
News  |  1/25/2008
Looking to become more customer centric, UMB implements Trillium data quality software as part of a CRM implementation.
Health Savings Accounts Present Huge Opportunity to Banks
News  |  1/25/2008
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.
Evolving Card Business Presents Opportunities and Threats for Banks
News  |  1/24/2008
Cards in all their varied forms will continue to provide savvy banks with a lucrative business for years to come. But banks will have to fend off increasing competition from nontraditional players.
Power Management Software Reduces Energy Consumption In Data Centers
News  |  1/24/2008
Cassatt's Active Power Management software turns off servers when idle and then turns them back on again when needed.
Banks Increasingly Deploying Green Technologies in Data Centers
News  |  1/24/2008
As energy consumption and costs continue to mushroom, banks increasingly are tapping new technologies -- such as IT asset management, virtualization and cooling solutions -- to improve the efficiency (and environmental friendliness) of their data centers.
To Think Globally, Scotiabank Acts Locally
News  |  1/24/2008
According to Bob Grant, SVP, global transaction banking, Scotiabank, even if a bank offers an integrated, global cash management platform, it still needs an extensive branch network to meet corporate clients' full range of needs.
Select-A-Branch Takes New Approach to ATM Distribution
News  |  1/24/2008
Select-A-Branch offers novel no-fee ATM distribution model that houses several banks in one machine.
BISS Says SEPA Efforts Too Bank-Centric
News  |  1/24/2008
SEPA efforts still leave corporates without enough direction from their banks.
Intuit and ECHO Agree to Acquisition
News  |  1/24/2008
Intuit rounds out its payments offerings with purchase of electronic payment processor.
Wincor-Nixdorf Expands FedEx/Kinkos Deal with Courier Service
News  |  1/24/2008
Wincor-Nixdorf expands FedEx/Kinkos relationship with courier service.
Mounting Evidence Shows Underbanked are Favorable Risks for Banks
News  |  1/24/2008
The underbanked are favorable risks for banks, LexisNexis says.
U.K.’s FSA Considering Tougher Bank Regulation
News  |  1/24/2008
FSA's response to credit crisis could mean more IT spending for U.K. banks.
Were People or Technology to Blame for Multibillion Dollar Societe General Fraud?
News  |  1/24/2008
Societe General is in big trouble-about $7 billion worth of trouble. Today, it was revealed that the French banking giant suffered this staggering fraud loss at the hands of trader Jerome Kerviel. The bank said it will seek emergency funds as a result, according to a Reuters report. The implications of this huge oversight are many.
There's A Big Void In the Bank Tech Community, And It's In The Sales Department
News  |  1/21/2008
The problem is that most vendor sales organizations are still selling "left over" products, and that game ended about three years ago. The game now is to sell capabilities that will improve the performance of their customers - commercial banks, credit unions, thrifts and mortgage companies. If you don't know what I mean, let me use two examples to explain - Accenture and IBM Global Services.
Goldleaf to Purchase Alogent
News  |  1/18/2008
2008 Persons of the Year - Bank Tech Sales Reps
News  |  1/14/2008
With all due respect to the Cs in every bank tech company, show me a salesman who brings in the business, and I'll show you the person who is going to propel our industry into one very sweet higher level. I have met only 9 tech sales reps in 35 years who left a lasting impression on me, so don't expect a smashing 2008 unless the new breed of salesman is going to hit the streets soon.
Bank of America's Success with Countrywide Will Depend on Technology, Economics and Luck
News  |  1/11/2008
I don't want to impute too much significance to the fact that my spam folder held a solicitation offer from "Countrywide Home Loans" on the same day it was confirmed that Bank of America plans to acquire Countrywide Financial for about $4 billion in stock. But it seemed somehow symbolically apt.
Pulling the Plug On Banking In Second Life
News  |  1/11/2008
A little while back, I blogged about the financial services community in the virtual world of Second Life, the brainchild of Linden Lab. These banks and brokers deal in Linden Dollars, which is the money of Second Life. According to wikipedia, although the exchange rate between real dollars and Lindens does fluctuate, there are approximately 270 Lindens to one U.S. dollar.
FIs Continue to Dial 'M' for Mobile Banking
News  |  1/10/2008
Throughout 2007 (and even into 2008-see our Jan. issue), BS&T talked about mobile banking and mobile payments until we were blue in the face. From the way things are shaping up, it doesn't look like our mobile mania will abate any time soon. Deals continue to be inked and banks are slowly starting the process of getting the word out to customers about what exactly mobile financial services are. Mind you, I speak only of the U.S. market, which is still a mobile f
Add Intelligence to Data to Create Competitive Advantage
News  |  1/9/2008
In the age of Web 2.0, banks are going to experience competition from non-traditional firms. In order to effectively compete against this new rival, they will need to continue to add value to their online offering. Adding intelligence to data through advanced reporting tools is one such way of doing this.
TCS Financial Solutions Global Focus
News  |  1/8/2008
Sponsored by TCS Financial Solutions TCS Financial Soutions Helps Manage Risk, Support Growth
Stanton Named CEO of Monitise Americas
News  |  1/7/2008
Lisa Stanton promoted to head N. American ops for mobile banking company.
Fifth Third Extends XSP Contract for Corporate Actions
News  |  1/7/2008
Multi-year renewal signed by Fifth Third for XSP's corporate actions software
Getting Personal with Customers Using Interactive Documents
News  |  1/7/2008
By Jerry Driscoll, Exstream Software Despite the large number of mergers and acquisitions within the industry over recent years, banking still remains highly competitive. Walk down any street in an average American city, and you're likely to pass three or four bank branches marketed to attract more customers and encourage them to do more business by opening more and different types of accounts. As always, however, the most effective way to do this is to build personal relations
What Not to Do with Technology and Customer Service
News  |  1/7/2008
What does customer service at the airlines have in common with customer services at banks? Hopefully not much!
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