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News & Commentary
Content posted in December 2007
Timing Isn't Everything. It Just Separates The Winners From The Losers
News  |  12/28/2007
Domestic core system vendors vs. International core system vendors. Every week I read about a new sale made by either i-flex solutions, TEMENOS, Infosys, Misys, or Tata Consultancy, and they are mostly significant sales. But their marketplace is not the U.S. There's a more active market out there called "the rest of the world." While this robust new business activity is taking place, U.S. vendors are still looking for the passport office.
BITS Shared Assessments Program Basics
News  |  12/23/2007
The data security process Shared Assessments Program developed by the BITS IT Service Providers Working Group consists of two key elements.
Blum Named VP of HP’s Global Financial Services
News  |  12/19/2007
Mike Blum, former Amdocs president, to join HP FS practice.
Forecasts Underestimate the Growth Potential for Mobile Banking Services in the U.S.
News  |  12/18/2007
According to Aite Group's Nick Holland, the recent rapid growth of U.S. subscribers to mobile banking services is part of a transformation that eventually will place mobile phones at the heart of all forms of banking transactions, including payments.
Emerging Global Players Have the Resources To Transform the Banking Technology Business
Commentary  |  12/18/2007
Four emerging global "financial power brokers" -- oil-rich countries, Asian central banks, hedge gunds and private equity firms -- are becoming increasingly active in the financial services and business technology sectors, according to a new report by the McKinsey Global Institute.
NACHA Announces Mobile Banking Initiative
News  |  12/17/2007
The Electronic Payments Association (NACHA) forms mobile banking work group to develop an ACH strategy for mobile.
Risk Management - A Science, Art Form, Gut Feel, Experience, Or Biometrics
News  |  12/17/2007
One thing I never liked about the banking business is the line item called, "reserve for loan losses." In my business, I wouldn't dream of taking on a new client if I thought it would go sour.
Banks Take Steps to Cut Their Environmental Impact
News  |  12/17/2007
Two new reports, both issued within the last week, detail methods that financial institutions could employ to lessen their environmental impact. While many banks are starting to take steps to become greener, lack of regulatory guidance leave many institutions unsure of what paths to pursue and where to start. TowerGroup and Gartner offer some advice for those looking for some direction.
IBM and ACI Expand Partnership
News  |  12/17/2007
Banks Find Opportunity In Apple's iPhone
News  |  12/14/2007
Bank of America is the first bank whose mobile banking application is listed on the iPhone.
Major Canadian Banks Become Basel II Compliant
News  |  12/14/2007
IT vendors that helped the major Canadian banks achieve Basel II compliance are passing on their knowledge to smaller Canadian and U.S. banks.
Mobile Banking Experiencing Increased Adoption
News  |  12/14/2007
As an increasing number of institutions pursue mobile banking initiatives, questions remain over which delivery model is best, whether consumers really want the service and how banks can realize a return on their investments.
Mortgage Losses Lead to Bank Layoffs
News  |  12/14/2007
Despite massive layouts in the wake of the mortgage crisis, financial services IT hiring is expected to rise in 2008.
Renasant Bank Chooses a SAN From EqualLogic to Keep Up With Growing Storage Needs
News  |  12/14/2007
Slow response times and an expanding network set Renasant Bank on a search for better network storage, resulting in the implementation of a storage area network (SAN) from EqualLogic.
Banks Eye Wealth Management Market
News  |  12/14/2007
As baby boomers transition into retirement, the wealth management market is more promising than ever. To grab a piece of this lucrative opportunity, banks must deploy analytics to segment and identify the needs of consumers and develop customer-centric offerings.
First National Bank Finds M-Banking Model That Works
News  |  12/14/2007
The mobile banking channel offers banks a way to overcome the lack of an advanced infrastructure in South Africa.
Wells Fargo Mobile Strategy Looks at All Customer Segments
News  |  12/14/2007
To appeal to the most users, Wells Fargo offers both retail and commercial m-banking services in a choice of formats.
U.S. Mobile Financial Services Still Needs Operating Model
News  |  12/14/2007
With mobile banking on the rise in the U.S., institutions still are challenged to find the best operating model.
Chase Begins Converting Its ATM Fleet to No-Envelope Machines
News  |  12/14/2007
Chase is using technology from Wincor Nixdorf and NCR to convert the first 900 of its ATMs to no-envelope machines. The rollout will be complete by 2010.
BITS Program Streamlines Vendor Security Audits
News  |  12/14/2007
The Shared Assessments Program, which standardizes IT security audits of vendors, is slowly catching on in the financial services industry.
News  |  12/14/2007
Companies are Thinking of Information Security as a Strategic Asset
News  |  12/13/2007
Well, it looks like it's finally getting through to the world's corporations. Information security IS about more than just staying out of trouble. Ernst & Young issued findings from its tenth Global Information Security Survey and concluded that a growing number of firms recognize the other fringe benefits of keeping data safe.
Turn the Research Panel into an Online Community
News  |  12/13/2007
Given the socialization of the Internet and how it is transforming the way firms conduct business (read: Web 2.0), we wonder if there isn't an opportunity for banks to take research panels such as Chase's new Chase Panel and make them more of a two-way community.
Three Ways to Improve Retail Bank Web Sites
News  |  12/12/2007
Account selection tools, bigger check archives and more self-service functions should be added to banks' Web sites, according to Corporate Insight.
PCI Council and Visa See More PCI Compliance
News  |  12/12/2007
Merchants are complying with PCI Data Security Standards now more than ever.
Financial Services CEOs Not as Tech-Savvy As They Say
News  |  12/12/2007
Bank CEOs say they promote IT/business alignment, but many businesses fail to do so, according to a Diamond Management & Technology Consultants study.
Innovator CIOs Are Everywhere But In Banking
News  |  12/10/2007
Computerworld just published its list of the top 100 innovators. I looked for banks and found only two. Citigroup Risk, Compliance and Legal and Wachovia Investment Banking. Not your core banking CIOs mind you. Go figure.
Don't Forget the Online Channel in Cross Selling Initiatives
News  |  12/6/2007
Over the years, banks have become adept at using "traditional" media to cross-sell to clients (e.g. statement inserts, bangtails, etc.). It is important not to forget the online channel in these efforts.
News  |  12/6/2007
Fiserv Completes Acquisition of CheckFree
News  |  12/4/2007
Jeffery Yabuki will continue to serve as CEO and president of Fiserv. Pete Kight will be named vice chairman of Fiserv and will lead new proudct development and strategic integration.
An Online Banking Story With a Happy Ending
News  |  12/3/2007
While interviewing an executive from Bank of America for a mobile banking article, I learned of a new online banking function, the ability to transfer money from my account to that of another Bank of America customer.
Intuitive Business Decisions Could Get You Fired. Welcome To The Mortgage Business
News  |  12/3/2007
How is it that one bad business decision in a huge organization can almost destroy it? The answer to my own question is, the lack of internal "regulators" aka "no-men."
New Bank of America Visa Card to Help the Planet, Takes New Twist On Rewards
News  |  12/3/2007
It looks like credit card issuing banks are starting to take a leadership position when it comes to the whole "green" craze in which we now find ourselves. Sure, we've heard news about banks building green data centers and others that are constructing new offices that are Earth friendly. Now, we're seeing credit cards getting creative with their rewards programs by promoting green initiatives rather than the typical airline miles.
Zopa Brings Social Lending to the United States
News  |  12/3/2007
U.K. peer-to-peer lender, Zopa, enlists the help of credit unions for its U.S. expansion.

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