Content posted in November 2012
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Digital Wallets Turn A Corner
The beginning of the holiday season has brought some positive tidings for the growth of mobile wallets. Bank Systems & Technology looks at the road - and challenges - ahead.
Twitter In Legal Spat Over Data Clampdown
Twitter is going to court over its recent decision to raise revenue by constricting access to its data stream to third party businesses and developers.
5 Predictions About the Future of Digital Wallets
Bank of America announced this week that it is piloting Visa's V.me digital wallet service with its online customers, firing up the ever-hot topic of digital wallets in the banking sector. Here are some recent quotes on the evolving digital wallets market that we selected to share.
It's Time to Embrace Core Systems Transformation
Although U.S. banks are among the leading consumers of IT, many have resisted core transformation. Now, however, the risk of delaying modernization outweighs the long-standing risks of proceeding.
Ready for Real Time: BBVA Compass Up & Running on New Core System
Accenture's Alnova new core banking infrastructure is now running BBVA Compass' checking and savings deposit platform across the bank’s 716 branches
Chase Looks to Refashion Branch Customer Experience with Debit Card Initiative
Chase's instant issue debit card initiative is part of a continuing effort to streamline and digitize the customer experience and onboarding process in in its branches.
Wall Street Climbs on Optimism Over Fiscal Deal
Indications that the government could reach a budget deal ahead of the upcoming "fiscal cliff" propelled stocks and investor confidence on Wall Street upward on Wednesday.
Core Banking Systems Winners And Losers
Don Free, research director at Gartner, shares his views on how the core vendor market is changing, and what banks and vendors must do to stay competitive, with BS&T associate editor Jonathan Camhi.
Goldman Sachs Boosts Rating on RIM, Shares Surge
Goldman Sachs upped its rating of RIM ahead of the launch next month of the new Blackberry 10 mobile devices that the company hopes will compete with Apple and Android products.
Enabling Business Performance Through Cloud-Based Identity and Access Management
Cloud-based identity and access management systems can reduce implementation time and costs for banks trying to keep pace with regulations regarding organizational access controls.
Wells Fargo Launches Mobile RDC Nationwide
After a soft launch in select states over the summer, Wells Fargo announced today that it is launching its Wells Fargo Mobile Deposit service nationwide.
Basel Committee Won't Delay Jan. 1 Rules Implementation
The head of the Basel Committee said yesterday that the Basel III capital requirements will be implemented on New Year's Day as planned.
Online Sales Jump On Cyber Monday, eBay Shines
Online retailers saw their shares rise as online purchases hit record highs on Cyber Monday.
U.S. Bank Expands Prepaid Services With Acquisition of FSV
The bank announced today the acquisition of FSV Payments Services, a prepaid processing company, to offer more varied prepaid services.
Is Your Automation Rate as Good as it’s Going to Get? Think Again…
Most banks set up a contact center strategy and then leave it be, when they should be constantly looking to improve it. Here are 10 steps banks can take to optimize their customer experience with the contact center.
Bank of England Breaks Tradition in Naming New Governor
Bank of England breaks tradition in naming Mark Carney, governor of Bank of Canada, to succeed Sir Mervyn King as governor in July 2013.
US SEC Chairman Mary Schapiro to Step Down
Mary Schapiro, the head of the SEC, announced today that she will be stepping down from her position this coming December.
UBS Fined By British Regulators For Lack of Internal Controls in Rogue Trader Case
UK regulators levied a fine against UBS today after finding that the bank's weak oversight of its investment operations allowed a trader to book over $2 billion in losses and conceal them for months.
Black Friday Sales Online Top $1 Billion For First Time
Amazon and Wal-Mart posted the highest sales as more consumers turned to online retail - through their smartphones as well as their PC's - to do their Black Friday shopping than ever before.
EU's Barnier Seeks 'Political Will' On Bank Union
The European Union Commissioner called for more support for a banking union from European finance ministers in a recent interview.
France's Rating Downgrade a Warning for Banks
French banks were reminded of
risks to their own growth and credit ratings when Moody's
stripped France of its triple-A badge because of an uncertain
fiscal and economic outlook.
Credit Suisse Shuffles Top Execs as Merges Units
Credit Suisse said on
Tuesday its private banking arm would swallow its smaller asset
management unit to cut costs and announced a management shake-up
that raises the profile of those jockeying to succeed its
beleaguered chief executive.
Six Technologies That Are Transforming Customer Service and Banking Relationships
Today’s most prescient banks are now providing customer service via advanced contact centers that can handle customer interactions in myriad forms, such as e-mail, mobile texts, and Web and video chats.
ForeScout and IBM Security Partner on Network Security Intelligence
The two technology companies will integrate ForeScout'a CounterACT Network Access Control (NAC) with the IBM QRadar Security Intelligence Platform.
JPMorgan Names Retail Finance Executive Lake as New CFO
JPMorgan Chase & Co named
little-known executive Marianne Lake as its chief financial
officer on Monday, making her one of the most powerful women on
Wall Street and the top ambassador to investors for the largest
U.S. bank.
Guitar Center Accepts PayPal In-Store
National musical instruments retailer Guitar Center is now offering PayPal mobile and card payments at the point-of-sale.
Obama Presses Case on 'Fiscal Cliff' With Dimon, Buffett
President Barack Obama's
intensive lobbying to avert big year-end tax hikes and spending
cuts resumed over the weekend as he spoke with senior corporate
chieftains, including JPMorgan Chase's Jamie Dimon and legendary
investor Warren Buffett.
Ally Launches Updated Mobile Banking App
The second-generation apps for Android and iPhone now features mobile RDC.
Giving Community Bank Customers What They Deserve
Retaining a banking relationship throughout a lifetime means offering next-generation products and services that transcend geography and never give a customer reason to look elsewhere.
Unresolved Issues Swirl Around Securing Mobile Payments
While many mobile payments startups are using both traditional and nontraditional authentication methods, regulatory uncertainty still exists around liability for fraud attacks on customers using mobile payments.
Mobile Payments Will Top $1 Trillion by 2017, Report Finds
IDC Financial Insights, a research firm, released a new study predicting rapid growth in m-commerce and NFC payments over the next five years.
Breaking Up Big Banks Still Not the Answer, Says Fed
There remains much work to fix
the "too big to fail" bank problem, but breaking up big
financial institutions is still not the answer, an influential
U.S. Federal Reserve official said on Thursday.
Banks Seen Shrinking for Good as Layoffs Near 160,000
Major banks have announced some
160,000 job cuts since early last year and with more layoffs to
come as the industry restructures, many will leave the shrinking
sector for good as redundancies outpace new hires by roughly
two-to-one.
What Will the Branch of the Future Look Like?
Virginia-based StellarOne Bank is on a mission to build a forward-looking branch network.
CFPB's Project Catalyst Aims to Influence Product and Service Innovation
A new CFPB project aims to increase innovation of "consumer-friendly" financial products and services.
Canada Libor Investigators Escalate Dispute with RBS
The Canadian agency investigating
whether banks manipulated a key global interest rates accused
Royal Bank of Scotland Group on Wednesday of failing to
cooperate with its probe and of making misleading statements
about it.
U.S. Mortgage Applications Rise on Sandy Rebound, Record Low Rates
Applications for U.S. home
mortgages jumped last week, rebounding after a massive storm
depressed applications on the East Coast and as a fall in
interest rates to a new low spurred demand, data from an
industry group showed on Wednesday.
How to Better Coordinate Data and Processes Across Risk and Finance
While CRO's have gained increase independence as a result of the regulatory environment, that same environment also requires strong integration between risk and finance.
Job Cuts, Regulation Push Bankers Toward Hedge Funds
The hedge fund industry is
expected to see a wave of new launches in the next year by
traders who have lost their jobs at investment banks or who have
left in search of better pay.
SunTrust Selects Viewpointe Information Management Solution
The bank will use the company's OnPointe solution to help manage information in its enterprise business systems.
Europe Seeks to Break Logjam Over Regime to Control Banks
EU finance ministers sought on
Tuesday to break an impasse over a new regime to supervise
banks, but with much of the plan contested, the European Union
risks seeing this centrepiece reform unravel.
CFPB Official to Leave at End of January
Raj Date, a top official at the U.S.
Consumer Financial Protection Bureau, plans to leave at the end
of January, a spokeswoman for the agency said on Monday.
Bank of America Vs. Square
The Charlotte, N.C.-based institution became the first bank to offer its own mobile card reader.
Huntington Bank Scores Highest in Small Business Customer Satisfaction, Report Says
J.D. Power and Associates released a new report last week showing lower levels of customer satisfaction among small business banking customers than retail customers.
U.K. Finance Bonuses to Plummet as London Loses Ground
Bonuses for 2012 in London's
financial sector will more than halve to 1.6 billion pounds
($2.5 billion) in total, a study found, and some shareholders
are urging banks to cut pay even more.
First Full Smartphone Commuter Rail Ticketing System in U.S. Launched
The Massachusetts Bay Transportation Authority (MBTA) and mobile transit ticketing company Masabi jointly announced the service.
RIM to Introduce New BlackBerry 10 Devices on Jan. 30
Research In Motion Ltd
plans to introduce its new line of BlackBerry 10 smartphones on
Jan. 30, the company said on Monday, giving investors a measure
of confidence that the long-awaited devices are nearing
completion.
New Mobile Payments Platform for EMV Cards
VeriFone's SAIL EMV payments platform offers a solution that plugs into tablets and smartphones for accepting chip-and-pin payments.
Uncertain Regulatory Future for Banks
A repeal of parts of Dodd-Frank now seems unlikely with an Obama re-election and Democrat-maintained control of the Senate.
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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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