Content posted in June 2001
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AGGREGATION MODELS A TOUGH SELL OUTSIDE THE U.S.
Although popular in the United States, account aggregation services are having a tough time getting established in overseas markets.
AFFLUENT CUSTOMERS TURNING TO INDEPENDENT ADVISORS
The loyalty of wealthy clients to their financial services providers is undergoing a dramatic shift, according to a recent report.
U.S. BANCORP BUYS NOVA TO FORTIFY MERCHANT SERVICES
At a time when many banks have shed their credit and debit card processing businesses, U.S. Bancorp has purchased bankcard processor Nova.
BANK NEED FOR INTEGRATED CRM GROWING, STUDY SHOWS
Banks need to recognize the importance of companywide integrated customer management solutions, according to a Meridien Research report.
EXECUTIVE CHANGES
Richard Paraday elected chairman of the Supervisory Committee for Meriwest Credit Union; Carl E. Mergele appointed to the board of SER Systems AG; James Durack named president of European Operations for Cutter Associates; Denis A. Bovin of Bear Stearns joins the BISYS board of directors; Richard D. Lane named president of Domania.
INTERNATIONAL BYTES
Gemplus International integrates technology with Nextenso portal software; London International Financial Futures and Options Exchange selects Radianz for secure IP connectivity; Sumitomo Mitsui Card Company implements Fair, Isaac and Company decision engine; Bumiputra-Commerce Bank uses ALLTEL technology to integrate processing platforms; Six European banks tap e-security products and services from Baltimore Technologies.
NORTH AMERICA BYTES
Bank One will fold WingspanBank.com into its online services; Bank of New York improves its depositary receipt Website; Easton Cooperative Bank installs Open Solutions Inc., core processing product; Brokat Technologies debuts its wireless trading software; Stratus Technologies unveils a new series of fault-tolerant servers.
TRADE SHOW / ASSOCIATION UPDATE
BAFT announced theme for its 11th annual International Trade and Finance conference; American Bankers Association debuts Web banking insurance package for community banks; Call center professional conference will be held in Chicago at the end of July.
FINANCIAL SERVICES EXECUTIVES LOOK
OVERSEAS FOR IT HELP
A growing number of U.S. financial services
firms are looking offshore for help in developing
and maintaining IT systems.
BANKS LAG IN THE RACE FOR EMERGING WEALTH CLIENTS
A recent survey shows financial institutions are
overlooking the money management needs of customers
with assets between $50,000 and $500,000.
NACHA AND ICBA ADAPT TO E-SIGN PROVISIONS
National Automated Clearing House and Independent
Community Bankers Association amend rules to comply
with the E-Sign law.
VISA LAUNCHES POS CHECK ACCEPTANCE SYSTEM
Visa is piloting a new point-of-sale check service
designed to reduce check handling and fraud costs.
EXECUTIVE CHANGES
Dan Campbell and Nigel Cree leave Merrill Lynch for
posts at Deutsche Bank; Michael A. DeVico becomes
vice president of Operations and Information systems
at Zions Bancorp; Steve Ely appointed vice president
of Worldwide Marketing at S1; James F. Flanagan to
head North America Transaction Services Group at
PricewaterhouseCoopers; Carl E. Mergele named CEO
at SER Solutions.
INTERNATIONAL BYTES
National Bank of Australia installs SunGard eProcess
Intelligence products; Bank of New York appoints HSBC
its subcustodian in Vietnam; Euroclear and Euronext
finalize consolidation to simplify cross-border settlement;
AMP Financial Services to use eBusiness application
software from Siebel Systems; Thai Military Bank signs
software deal with ALLTEL.
NORTH AMERICA BYTES
Royal Bank of Canada to use mortgage management tool
from Basis100; First Hawaiian Bank to install Banklink
cash management solution; Desjardins caisses selects
wireless transaction system from Wysdom Inc.; JPMorgan
launches Web service center for bond customers; GreenPoint
Mortgage chooses proprietary marketing software from Domania.
TRADE SHOW / ASSOCIATION UPDATE
SWIFT extends membership to insurance companies and
creates new membership category; AIIM names Reynolds C. Bish
vice chairman of its Board of Directors; Risk Management
Association appoints Maurice H. Hartigan president and CEO.
Bank Role Must Evolve With Electronic Business
With the advent of the digital marketplace, banks are discovering even more creative ways to provide services for their customers.
Data Mining Application Helps BB&T Increase Cross-Sell Ratio
When Winston-Salem, N.C.-based BB&T noticed inefficiencies due to redundant messages from its various departments being sent to the wrong customers, it took corrective action.
LabMorgan Lends A Helping Hand to New Financial Technologies
As the e-finance engine of J.P. Morgan Chase, LabMorgan occupies an excellent vantage point for the identification of emerging trends in financial services technology.
Key Bank Unlocks Internet Success
Patrick J. Swanick, president and chief executive officer of Key Electronic Services, discusses Internet banking.
Bank Uses Sedona System To Connect With Customers
Harbor Bank of Maryland recently selected Sedona's customer relationship management (CRM) solution.
Profitability Simple As 'ABC' for Maryland Bank
To better understand the relationship between channel usage and costs, Sandy Spring National Bank of Maryland has completed a three-month activity-based costing project .
Kiosks Cure Bank's Sign-Up Woes
Franklin National Bank installs Internet-wired kiosks in four branches.
Upstate N.Y. Bank Expands Switching Capacity
Adirondack Trust Company, a seven-branch institution, needed to expand its ATM network in order to stay ahead of the innovation curve in a wired world.
Modeling the Balance Sheet
For a little money, community banks can buy a lot of analytical capability.
Countdown To Privacy
Technology has played a leading role in helping banks meet the privacy deadlines imposed by Gramm-Leach-Bliley
Provident Central Credit Union Selects Sagent for Better Customer Service
Provident Central Credit Union, one of the largest credit unions in the country, recently implemented a customer analytic application in less than 90 days.
Texas Bank Licenses Software to Streamline Lending Operations
Riverway Bank, Houston, has licensed easyLENDER, a Windows-based loan origination and processing system from Fiserv.
Provident Goes For The Gold
Provident Bank, a regional bank serving the Baltimore-Washington corridor, will soon expand its Internet banking services to provide wireless access.
Chase Kicks Off Business Document Archive Service
Chase Manhattan Bank's launch of i-Vault!, an Internet-based image archive service, is another step toward achieving a paperless office.
Bank of NY Forms Asset Management Outsourcing Venture
Bank of New York has joined with Accenture and several leading technology and financial services companies to create a company that offers a comprehensive outsourcing solution for the fund management community.
CIBC Optimizes Processing With Real-Time Monitor
With more than 10,000 mortgage transactions a day, Canadian banking giant CIBC needed a solution to ensure that its mortgage processing system was performing at its maximum.
Fleet Installs Check Fraud Management Solution
FleetBoston Financial has signed on for the eRM Risk Management tool from Carreker.
Online Bank Targets Wealthy Individuals
VirtualBank caters to the "info-riche."
Silicon Valley Bank Chooses ASP for Speed to Market
Silicon Valley Bank deploys an ASP (application service provider) for its cash management solution.
Wells Fargo Kicks Off Aggregation Service
Wells Fargo's online banking customers can now use just one key to open many doors, with the launch of Wells OneLook.
UBS Switzerland To Develop Core Banking Component of SAP Software
UBS Switzerland, the banking group of $592 billion UBS AG, will implement and co-develop a new core banking component of mySAP Banking, SAP's suite of financial, customer service and planning applications for the banking industry.
Billing Companies Start To Employ Screen Scraping
Companies offering electronic bill payment and presentment services are starting to use screen-scraping technology to gather information from biller Web sites for presentation to customers.
Survey Shows More Consumers Willing To Try Online Banking
A new study reveals that consumers are a lot more bullish about online banking services than previously thought.
Bank One Subsidiary Hit With Regulatory Action
Banc One Capital Markets is fined because of accounting systems glitches.
Traditional Banks Rush To Fill Dot-Com Void
Having customers, domain expertise and capital suddenly counts again in the online world.
Ability To Identify Profitable Customers Key to CRM Success
Billions of dollars are being squandered on CRM projects that lack clearly defined goals.
Just Thinking
New technology, no matter how seemingly foolproof, is bound to fail at some time.
FIRST TENNESSEE OPTS FOR VIEWPOINTE ARCHIVE SOLUTION
First Tennessee is the first non-partner financial
institution to use Viewpointe's archive and retrieval
service for check images.
ROYAL BANK OF CANADA TAPS INEA PORTAL TO PROVIDE
BUSINESS ANALYTICS
To better respond to business opportunities, RBC
will extend INEA's analytic software to its branches
through a Web Portal.
ALLTEL TO LAUNCH MORTGAGE SERVICE AND DATA PORTAL
Alltel hopes its Mortgage PhD portal will become
a valuable resource for real estate industry
executives.
GROUP DEBUTS SERVICE TO PROVIDE SMALL BANKS WITH ONLINE MORTGAGE CAPABILITIES
Three companies, including mortgage giant Fannie Mae,
partner to produce online mortgage software for
community banks.
EXECUTIVE CHANGES
John Rosenfeld joins Bank of America as Consumer E-Business
executive; Stephen E. Canter and Ronald P. O'Hanley are
appointed to the Executive Management Committee at Mellon
Financial; Michael Cleary and Christopher Klein to head the
Internet Business Group at Bank One; Scott M. McBrair and
David Seim become board members for Pulse EFT Association;
Dino Kos named executive vice president and head of New
Markets Group for the New York Federal Reserve.
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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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