Content posted in December 2001
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Currency Reporting: Balancing Societal Benefits and Banks' Burdens
Regulations are in place that encourage banks to exempt certain accounts from Currency Transaction Reports reporting requirements. However, most banks have ignored the exemption process over concerns about fines for technical violations of the exemption process. How did we get into this mess? And is there any way out?
Financial Services and the Benefits of Online Account Management
As the Electronic Bill Presentment and Payment (EBPP) industry matures, it is clear the opportunity is more than just presenting a bill on the Internet and enabling customers to pay it.
Opening Up the Full-Service Channel: Wealth Management
The ease of eFinance may attract customers to one FSP or another, but once they have been procured, how does the FSP profit from its own ?eFinanciers??
Positioning Financial Services Institutions as the Critical Force in EBPP
Financial service institutions (FSIs) will play a major role in the EBPP market's growth because they can serve as key providers to their consumer and corporate customers while also employing the technology to reduce their own billing and statementing costs.
Wachovia Bullish On EBPP Despite Slow Adoption Rates
Electronic bill presentment and payment can provide banks with a number of unexpected benefits, says Anne M. Brown, senior vice president of Internet payment strategy at First Union National Bank, now a part of Wachovia.
MasterCard Explores P-to-P E-Mail Payment System
MasterCard International and CertaPay have formed an alliance to enable consumers to send and receive money in real time, using only an e-mail address.
Barclays B2B Adds Reverse Auction And E-Procurement Functions
Barclays plc contracts with Clarus to provide more features on its business-to-business Internet site.
Executive Changes
Steven Kropper selected to the Residential Loan Production Steering Committee of the Mortgage Bankers Association of America; Debora Volansky named president of Connex International; Russell Lake appointed director of Global Sales for Neoris FS.
International Bytes
KBC Bank NV selects Sungard's intelliMATCH to reconcile securities items and related cash; SWIFT enters into an agreement with Financial Fusion and Global Crossing to offer a FIX hub messaging solution to the securities industry; The London Stock Exchange, London Clearing House and Euroclear sign a joint agreement to develop straight-through settlement.
North America Bytes
AMVESCAP National Trust Company inks business process outsourcing deal with BISYS; CIBC Business Banking launched using products from S1 Corporation; Bank One Corporation and Microsoft Corporation unveil a three-year strategic relationship.
Trade Show/Association Update
The Call Center & CRM Solutions Conference & Exposition offers specialized tracks and industry forums; Direct Marketing Association approves the recent publication of specific guidance to help financial institutions comply with the requirements of the Gramm-Leach-Bliley Act; NACHA accredits 365 payments industry professionals.
Due Diligence on Deals Delivers Dividends
Consolidation in financial services continued apace in 2000 and 2001.
Cornhusker Banks on People-Proof Security
It's the employees who provide final line of defense when it comes to protecting customer information.
Rabobank Makes Calculated Move to Smart Cards
Rabobank Netherlands finds ways to stay abreast of its competitors. Smart cards have been one key part of its strategy.
Managing Change, Saving Dollars
David Aldridge is busy since joining Union Planters September as chief technology officer.
Wells Fargo Adds Web Gateway
Wells Fargo establishes gateway that authenticates and processes electronic payments, ensuring protected transactions for Web merchants.
Research Shows Room for Internet Banking Growth
There is room for expansion in the Web banking arena.
Bank of Montreal Aims To Score With Clients Using Data Mining Product
With CRM, the key to success isn't simply building a front-end application.
Immobile Communications
Wireless financial services is a tough sell to consumers.
A Sense Of Urgency
Banks race to overhaul outmoded disaster recovery and business continuity plans.
Online Lending: Essential to e-Finance
Consumers are applying for loans either by phone or in the branch of their local financial institution.
Back to the Drawing Board
The dot-com demise forces financial institutions to reconfigure online lending offerings.
Online Bank Delivers Check Images to Customers
NetBank turns to experienced hand to manage its check archiving operations.
Fifth Third Automates Hiring Of Part-Time Help
Fifth Third Bank relies on temporary help to round out its workforce.
Electronic Bill Payment on Upswing, Study Reports
More people use electronic bill payment in 2001 than in 1999.
Comerica Kicks Off Online FX Service
Comerica Bank pushes foreign exchange services out to the Web, launching eFX.
Aggregation On The Rise
Consumers use an increasing number of institutions to manage their finances.
World Briefs
IntesaBci licenses CLS Server; Kosovo American Bank installs Globus; Banco de Bogota signs three-year software and services agreement with Alltel.
Banco Urquijo Reigns In Spain With New Software
With the implementation of a CRM suite from SAP, Banco Urquijo takes control of customer information and business processes.
Bank Bytes
Effingham State Bank installs CheckQuest; M&I Bank, Zions Bancorp and Societe Generale Bank join BankOxygen; IBEW 110 Federal Credit Union licenses suite of banking applications.
RBC Pilots Online Privacy Tools Program
Royal Bank provides security software tools in bid to help Canadian customers better protect their privacy when surfing the Net.
Visa, MC Mull Options After Court Decision
MasterCard and Visa ponder next moves following last month's ruling in the antitrust case brought by the Justice Department on behalf of American Express and Discover.
Anti-Terror Law Puts Banks In The Hot Seat
IMLA-FATA places new responsibilities on banks to detect and trace funds held by criminals or intended for use by terrorists.
Just Thinking
Banks, looking to win market share in the New York City, follow the issue they believe will attract a large number to bank with them: service.
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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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