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News & Commentary
Content tagged with Management Strategies posted in April 2008
If I were the CEO of a bank, I would....
News  |  4/28/2008
1. Hire a personal auditor, but not a partner of the bank's audit firm, and not one of the Big Four. 2. Hire a personal attorney, not from Philadelphia, but nearby from the Bronx. 3. Outsource all personal expense report submissions to an independent accounting firm that has no ties to the bank, and no ambitions to be there. 4. Hire a personal devil's advocate as an independent contractor with a guarantee tenure to make sure I uphold moral, business, ethical and fairness rules as the contractor
The Greening of Banking
News  |  4/28/2008
On the first Earth Day-April 22, 1970-I enthusiastically did my bit for the environmental cause by volunteering with some of my fellow high school students to run a car wash that was supposed to raise money and awareness. Of course it didn't occur to any of us that there was something inherently contradictory about trying to save the environment by washing cars. We felt optimistic and productive and kind of noble. We knew we had done something good, although none of us would have been very succe
HID Global and Dynamic Card Solutions Launch CardWizard Financial Card Printing System
News  |  4/24/2008
CardWizard enables full card personalization plus secure, automated issue and activation.
Transfer Limits: Reducing Risk at the Expense of Convenience
News  |  4/24/2008
To fund a study we're conducting in our brokerage research, we recently attempted an online transfer of $5,000 from a Citibank account to a linked Charles Schwab account. We had done this before without any problem, and were surprised to note that Citibank recently reduced the daily limit for outgoing inter-institution transfers (IITs) from $5,000 to $2,000.
Flushing Financial Corp. Taps Barbara Beckmann to Be SVP
News  |  4/23/2008
Beckmann is named SVP, director of operations.
Can Anyone Stop DataTreasury In its Patents Crusade?
News  |  4/23/2008
It looks like Data Treasury has claimed yet another victim in its patents game. It was announced recently that PNC Financial was the latest FI to settle with the notorious patent litigant over technology around electronic check imaging.
The Price of a Stock has Never Influenced My Recommendation of a Bank Tech Vendor
News  |  4/21/2008
With all due respect, I realize that my bank clients and private equity clients care a lot about the performance of their investments in the stock market. I'm simply saying that as an advisor to banks that are searching for a new core applications software or service company, I deal with 814 criteria in making my final recommendation. The price performance of a vendor's stock is not one of the 814.
IDB Bank Taps Robert Plante to Drive Information Systems Strategy
News  |  4/21/2008
As IDB's new EVP and CIO, banking veteran Robert Plante will be responsible for the technical strategy, innovation and engineering of the bank's information systems network.
BB&T Improves Online Training With EEDO’s ForceTen LCMS
News  |  4/18/2008
BB&T improves online training with EEDO's ForceTen Learning Content Management System.
Banks Prove Top Performers in Call Center Study
News  |  4/18/2008
Financial services is among the top industries in deploying call center tech, study claims.
Fewer Bank Tech Vendors, but More Solutions to be Had
News  |  4/14/2008
Today, there are fewer bank tech companies, but more solutions in the marketplace. In 2001, there were 165 companies selling 223 solutions to banks, thrifts and credit unions. Today there are 71 companies selling 306 solutions. That's 57 percent fewer companies; 37 percent more solutions.
Industry Collaboration Vital to Banks' Viability
News  |  4/11/2008
I recently attended the SWIFT Operations Forum Americas in New York. While there, I had the pleasure of hearing some very influential people from the financial services industry speak. Foremost among the FS heavy-hitters (to me, anyway) were the executives who spoke during the second keynote address. It wasn't a keynote in the traditional sense, but more like a panel. Attendees were invited to hear what Bank of Ameri
These May be the Best of Times for Some Bank Tech Vendors
News  |  4/7/2008
A few years ago, the stats were telling me that the #1 business (new core sales) for bank tech vendors was leveling off. Not dying, mind you, just leveling off from about 8 percent of the population to about 3 percent. The sale of core apps solutions is the sweetest sale any vendor can make for these reasons: It's the biggest thing every financial institution (16,881 in the U.S.) does. All FIs do it every day. It's so critical that FIs would be subjected to huge risk if just one night's processi

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