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News & Commentary
Content posted in July 2012
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New Cross-Industry Association Pushes for EMV Adoption
News  |  7/31/2012
The Smart Card Alliance announced the formation of the EMV Migration Forum to provide guidance and cooperation on the path to EMV adoption.
TD Bank Selects CheckFree RXP for Electronic Billing
News  |  7/31/2012
The Fiserv product will give TD Bank customers access to the vendor's electronic and billing payments network.
Credit Unions Outpacing Banks in Deposits
News  |  7/31/2012
According to a new report from SNL Financial, credit unions enjoyed a rapid increase in deposits long before populist rhetoric over bank fees took hold.
Mobile Payments: Can Banks Seize the Moment to Transform Consumer Finance?
Commentary  |  7/30/2012
The growth of mobile banking has created a competitive landscape in payments and has caught the attention of government regulatory agencies. In the continuing payments evolution, can banks take advantage of the opportunities ahead?
Cash and Checks Aren't Dead Yet, Presenting an Opportunity for Banks
News  |  7/30/2012
Consumers are using credit, debit and prepaid cards more and more, according to MasterCard. But banks must improve their mobile payments offerings to further reduce customers' reliance on cash and checks.
After Much Fanfare, Isis Launches with Pragmatic Expectations
News  |  7/30/2012
Isis, the NFC-based mobile wallet venture formed by AT&T Mobility, T-Mobile USA and Verizon Wireless, finally is gearing up for its long-awaited launch at the end of the summer.
AJB Software Rolls Out EMV System for U.S. Retailers
News  |  7/30/2012
The FIPay EMV software will speed up the conversion to EMV cards for merchants and also integrates mobile and point-of-sale transactions.
Banks Urge U.S. Congress to Extend Crisis-era Deposit Insurance
News  |  7/30/2012
The expiration of special U.S. deposit insurance at the end of the year has spurred banks to lobby Congress to extend the program out of fear that companies will withdraw billions of dollars.
Markit Launches Basel III Compliance Solution
News  |  7/30/2012
The Basel III regulations are set to begin being enforced in January of next year.
Why More Banks Are Moving Toward EMV Adoption
News  |  7/30/2012
American Express is the latest -- and last -- of the three major card companies to issue a road map for EMV adoption in the United States. Is the switch to chip and PIN now inevitable?
Tapping the Payments Opportunity: Creating an Integrated Payments Business
Commentary  |  7/30/2012
A fully integrated payments business provides banks with the best opportunity to compete.
JPMorgan Chase Consolidates Operations, Shuffles Executives
News  |  7/27/2012
JPMorgan Chase announced that it is accelerating the merger of several of its businesses and adding new roles for several of its executives.
Royal Bank of Canada Completes Acquisition of Global Investor Services Business
News  |  7/27/2012
Dexia Investor Services Limited will be rebranded as RBC Investor Services.
Sandy Weill’s "Conversion" -- Why the Shock?
Commentary  |  7/26/2012
Sandy Weill changed his mind about the structure of big banks. Why is everyone so surprised?
The Dodd-Frank Act: A Catalyst for Change
Commentary  |  7/26/2012
Dodd-Frank and other regulatory requirements have banks examining their independent financial controls.
E-Invoicing Represents Huge Potential for Banks: Report
News  |  7/26/2012
According to a new Celent report, while e-invoicing volumes are increasing, the level of penetration is still below 10 percent in most countries.
Geithner Says He Did All He Could to Address Libor Problem
News  |  7/26/2012
U.S. Treasury Secretary Timothy Geithner, under pressure for not doing enough to stop fraudulent manipulation of a key benchmark interest rate, told lawmakers on Wednesday he alerted the appropriate authorities "early on."
Wells Fargo Remains Top U.S. Mortgage Lender but Share Slips
News  |  7/26/2012
Wells Fargo & Co remained the largest U.S. mortgage originator in the second quarter, but ceded market share to its biggest rivals, Inside Mortgage Finance said on Wednesday.
The Future of Payments at the Olympics
Commentary  |  7/26/2012
Visa is showing off some of its new payments innovations at the London Olympic Games.
Bank of America Merrill Lynch Expands Card Solutions Internationally and Introduces SEPA Direct Debits
News  |  7/26/2012
Hoping to help clients looking to expand overseas, Bank of America introduced card solutions in new countries along with SEPA Direct Debits.
Mobile Payments Company payvia Announces Next-Gen Platform
News  |  7/25/2012
The Los Angeles-based firm has reached agreements with Sprint and T-Mobile USA.
Experts from Facebook, Google to Judge Best Mobile App Ideas for Financial Services
News  |  7/25/2012
The U.S. Treasury announced today that experts from Google and Facebook will help judge mobile app ideas for its MyMoneyAppUp Challenge.
Bailed-Out Banks Still Struggling to Repay U.S. Government
News  |  7/25/2012
Hundreds of bailed-out banks are still struggling to repay taxpayers and will soon find it even harder to make required dividend payments to the U.S. Treasury, according to a report on Wednesday by the watchdog for the government bailout program.
Weill, Builder of Bank Supermarkets, Calls For Their Breakup
News  |  7/25/2012
Sanford Weill, the financial tycoon who pioneered the modern U.S. megabank that mixes deposit taking and ending with riskier investment banking activities, called for the model to be dissolved in an interview televised on Wednesday.
CaptialMark Bank & Trust Calls on ACH Alert's C.O.P.S. to Stop Payments Fraud
News  |  7/25/2012
CapitalMark Bank & Trust calls in ACH Alert's C.O.P.S. solution to improve its ACH and wire transfer anti-theft posture.
Mobile: The Next Fraud Frontier
Commentary  |  7/25/2012
Financial institutions will need to take a layered approach to security as the increasing consumerization of tablets, smartphones and other mobile devices introduces more fraud risks and malware concerns.
IT Salary Survey: Outlook Points to Cautious Optimism
Slideshows  |  7/24/2012
The past several years have certainly been rough sailing for the financial services industry, but the market for IT talent in the sector is on the rise, according to the "2012 InformationWeek IT Salary Survey." After several years of painful cuts, the job market is improving, albeit at a slower pace than before the financial crisis.
Fiserv Launches Mobile App for Debit and Credit Card Rewards Program
News  |  7/24/2012
Fiserv today launched a new mobile app and upgraded website for its UChoose Rewards initiative, a credit and debit card loyalty rewards program.
BofA, Wells Fargo Rolling Out New Mobile Banking Services
News  |  7/24/2012
Bank of America Corp and Wells Fargo & Co are rolling out more retail services accessed by mobile phones, including check deposits, as the banking sector races to cut costs in a tepid economy.
Dell Releases New Big Data Solution
News  |  7/24/2012
Big Data Retention integrates with existing analytics platforms as a front end big data repository for large datasets or a backend archive.
Bank of America Switches to EMV Chip Credit Cards for Consumers
News  |  7/23/2012
The bank is targeting new EMV chip credit cards for consumers who travel overseas, where EMV technology is more common.
Great Potential in Mobile Services for Small Business Clients, FundTech Survey Says
News  |  7/23/2012
A FundTech survey released today found great potential for revenue in mobile services for small businesses while uncertainty over new regulations remains the norm.
Spain Court Says No to Bankia Evidence
News  |  7/23/2012
A judge rejected a request on Monday for the former chairman of Spain's Bankia, Rodrigo Rato, to give evidence in a fraud case against him and other executives at the failed bank before he appears at a parliamentary inquiry on Thursday.
Senators Seek Bigger Firepower for U.S. Securities Regulator
News  |  7/23/2012
U.S. Senators are planning to introduce a bipartisan bill on Monday to give the country's securities regulator the authority to seek tougher fines for alleged Wall Street criminals.
NFC Retail Payments Market to Reach $180 Billion by 2017
News  |  7/23/2012
According to Juniper Research, the rise in NFC payments will be driven by North America, Western Europe and Far East and China.
Banks in Libor Probe Consider Group Settlement
News  |  7/20/2012
A group of banks being investigated in an interest-rate rigging scandal are looking to pursue a group settlement with regulators rather than face a Barclays-style backlash by going it alone, people familiar with the banks' thinking said.
How Will the Spanish 'Bad Bank' Work?
News  |  7/20/2012
European finance ministers signed off on Friday on conditions attached to the release of up to 100 billion euros ($123 billion) of aid for Spain's banks.
Michigan First Credit Union Incorporates New Automated Risk and Security Solutions
News  |  7/20/2012
Aithent Fraud Manager and AML risk management solution offer Michigan First Credit Union flexibility and ease of use in handling potential fraud cases.
TruStone FCU Selects Fiserv Account Processing Solution
News  |  7/20/2012
Acumen is designed to integrate with Fiserv digital services and other products.
Cyber-Security is Consantly Evolving
Commentary  |  7/19/2012
The rapid pace of technology provides both threats and benefits to banks.
Five Bank Security Trends Shaping the Future of Fraud Fighting
News  |  7/19/2012
Biometric bank apps and token-generating credit cards will be among the tools used to fight fraud and keep financial services secure.
Western Union Bolsters P2P Payments Operations
Commentary  |  7/19/2012
With its peer-to-peer electronic transfers business expanding online, Western Union is now partnering with banks around the world to send account based money transfers.
Central Bankers Eyeing Whether Libor Needs Scrapping
News  |  7/19/2012
Central bankers and regulators will hold talks in September on whether the troubled global Libor interest rate can be reformed or whether it is so damaged that the benchmark of borrowing costs should be scrapped.
USAA, Mitek Legal Battle Rolls On
News  |  7/19/2012
The two parties are each claiming the other misappropriated mobile RDC technology.
Capital One Bank To Pay $210 Million in Refunds and Penalties for Deceptive Marketing Practices
News  |  7/18/2012
Capital One agreed with regulators at the CFPB and the OCC to pay penalties and customer refunds for failing to monitor its vendors that were deceptively marketing its credit products.
Bank of America Plans $3 Billion in New Cost Cuts
News  |  7/18/2012
Bank of America Corp said it plans to slash costs by $3 billion annually in commercial lending, investment banking and wealth management, becoming the latest big bank to take aim at expenses in a sluggish economy.
PayPal Acquires Mobile Credit Card Payments Startup
News  |  7/18/2012
PayPal announced its acquisition today of, a tech startup working on using smartphone cameras to capture credit card information.
Mobile Payments Firm M-Via Changes Name to Boom Financial
News  |  7/18/2012
The mobile payments company also announced it just closed a $17 million financing round.
5 Critical Strategies for Mobile Banking Security
Slideshows  |  7/18/2012
To the best of their ability, banks need to ensure that their services are available and secured within any mobile phone configuration. Because absolute security is nearly impossible to attain in the mobile world, banks’ back-end systems have to be prepared to detect anomalies and fraudulent activity in the event that a front-end channel has been compromised.
Bank Failures Down in 2012
News  |  7/17/2012
The number of financial institutions that have shuttered the first half of this year is less than during the same period of 2011.
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