Three Banks Join Visa POS Check Service
Bank of America, SouthTrust Bank and State Employees Credit Union will launch the Visa check acceptance system, called Visa POS Check Service, which could significantly reduce paper check handling and fraud costs.
First Data Offers Internet-Based Processing
First Data will use an Internet-based transaction delivery network from Datawire Communication Networks to provide its customers with lower telecom costs, faster processing ability and a greater number of options.
Big Banks Flex Online Muscle
Gomez's most recent Banking Scorecard, which measures the quality of e-commerce offerings, reveals that many institutions are investing in functionality and customer service initiatives that demonstrate a better understanding of online customers' needs and behavior patterns.
Ed Mollahan of J.P. Morgan Investor Services appointed to the Private Equity Standards Board; Thomas Makmann named president and chief executive officer of Network Storage Solutions; James E. Rohr of PNC Financial Services Group selected chairman of the board for BITS, the Technology Group for The Financial Services Roundtable.
Deutscher Sparkassen Verlag to install the ANDiS card and application management system from Bell ID; Close Brothers (Cayman) Limited merchant bank selects automated accounting and administration system from Global Investment Systems (GIS); Goldfish Bank Limited engages Sanchez Computer Associates to provide custom development and support services for a new banking products.
North America Bytes
Victory Capital Management selects BISYS to support its private labeled Individual(k) retirement plan; Whitaker Bank Corporation of Kentucky implements a core processing solution from Precision Computer Systems; VirtualBank selects a workflow product from Ultimus to enhance internal efficiency and productivity.
Association/Trade Show Update
Pocket PC Summit, the only conference and exposition dedicated exclusively to the Pocket PC platform, will take place this May in Philadelphia; U.S. Bank joins NACHA; BAI's TransPay 2002, a multi-faceted transaction processing and payments conference, will take place this May at the Anaheim Convention Center in Anaheim, Calif.
State Street Bank stakes out a strong market position with sophisticated investors by providing specialized offerings including custody, operations outsourcing and information services.
NACHA publishes guidelines that define the benefits to businesses of integrating accounts payable operations with EIPP systems.
EIPP: A Win-Win Proposition
EIPP services-an effective, affordable, Internet-based alternative to EDI-is a bold step toward paperless B2B invoicing.
Weighing the Options
Banks measure the viability of using outsourcing to control electronic bill-pay costs.
Car dealers and lenders install Internet-compatible decisioning systems to speed the credit approval process.
The Big Picture
Account aggregation is maturing, but is it a solution in search of a problem?
N.J.-based Bank Taps ASP Solution
When Roma Federal Savings Bank went looking for a core processing provider, the short list of requirements included a high-tech ASP environment, support for real-time transactions, and state-of-the-art reporting for building customer relationships.
S1's Zeus Inspires Liberty Bank
Liberty Bank extends its relationship with S1 to include the Zeus teller, sales and service, call center, and CRM delivery solutions.
Ohio Savings Taps Outsourcer
Ohio Savings Bank makes Online Resources its single-source provider of Internet banking and bill payment services.
Union Bank of California Updates Pay System
When Newton announced it was changing its technology to run on a different server, Union Bank of California had to decide whether to keep its existing platform and switch suppliers, or invest in new hardware and stick with IntraNet.
Citibank deploys Flexcube; BMCE Bank licenses mobile e-commerce software from 724 Solutions; Unibanco licenses PayWare eIssuer.
Shinsei Bank Gains New Life Using i-flex
i-flex solutions grows to encompass wholesale and retail banking solutions for back office, Internet banking and business intelligence, and offers consulting and custom software development services to banks worldwide.
eSecurity Spending To Rise In 2002
Despite the slumping economy, security and disaster recovery spending will rise in 2002 due to a heightened sensitivity to IT security post-September 11.
First of Omaha Merchant Processing, taps OneBridge Mobile Server to provide mobile access to its sales force automation system.
Banks Crack Down On Terror Funds
Bankers and regulators at a recent BAFT conference debated the strategic issues facing the industry in the new regulatory and economic environment for global financial institutions.
Bankers now face prepping their institutions for the new regulatory, risk and security issues stemming from the tragic events of September 11.
Alex W. "Pete" Hart joins the advisory board of Payment Partners; Paul Bourke named CEO of Aurum Technology; Victor J. Menezes appointed chairman of the board for The New York Clearing House.
Merrill Lynch and Ocwen Financial Corporation form international asset management servicing company for distressed businesses; FinancialOxygen launches a new online exchange for Fed Funds and Eurodollar trading; GSTP AG to launch its global straight-through processing network in September 2002.
North America Bytes
J.P. Morgan Chase Bank licenses custom-designed Web-based tools for collateralized debt obligation from RiskMetrics Group; Heritage Bank of St. Joseph selects a Windows-based teller system from National Source One; Republic Bank implements channel enhancement application from S1; Truliant Federal Credit Union to install Web-based e-procurement and asset management applications from Verian Technologies.
Association/Trade Show Update
The second annual Arab Banking Technology Conference to take place in Dubai on April 22-24, 2002; SWIFT and Global Crossing restructure agreement.