One-Size-Fits-All Core Processors? Not Likely
Oct. 2, 2006
***I've often been asked, ... "Why don't you just save bankers from a time-consuming evaluation process and declare the best system for core processing?" I politely explain that every bank has its unique characteristics and, therefore, there's no such thing as one best system for all. ... Probably the best thing any bank has going for it today is its self-created culture in an industry that is so regulated that it produces commodity-like products and services. It is a bank's unique culture that I try to preserve in order to find the tech solution that will be the best fit, not the neutralizer.
'Integration' Is a Reality
Sept. 25, 2006
***In a survey I conducted last year, 74 bankers were asked to complete a questionnaire. I asked them to volunteer their own words describing how they felt about technology. Fifteen words kept popping up consistently among the group's responses. Integration was one of them.
State of Denial
Sept. 18, 2006
***I begin the orientation meeting at each new client assignment with this remark: "We are going to select a new core system for your bank, and this will be the last conversion you will make even if you live to be 100." Everyone cheers. ...
As I see it, there are about 3,712 financial institutions that need to get over the denial phase and take a good look at their core system. ... Last year, 755 bit the bullet and switched. At that rate, the entire population will be in good shape in five more years, except for the core vendors, who will have to find other things to sell.
-- Bruce Cundiff, Senior Analyst, Javelin Strategy & Research, during the BS&T webcast, "Defending Your Banking Customers Against Identity Fraud," available online at www.banktech.com/events/ondemand.
-- Marcus von Kapff, JPMorgan Chase SVP and head of the small business segment, during the podcast, "Your Reality Is Our Business: Small Business Trends," available online at www.jpmorganchase.com/info/pr/podcasts.
One Site for Compliance Info.
Business.gov is the official business link to the U.S. government. Companies can search by topic or industry for compliance information and federal forms from all major U.S. federal agencies regulating or serving businesses. State and municipal compliance information also is being added to the site.
NACHA Rules Resource
Deluxe Corp. has launched an online Check Resource Center designed to help financial institutions, small businesses and retailers adjust to recent changes to the NACHA Operating Rules, which could affect the way checks are processed. The resource center also contains basic information about electronic check processing (check conversion), opening and managing a checking account, check security and fraud prevention.
Asset Management Survey
In May, 130 Network Computing, InformationWeek, Optimize and Intelligent Enterprise (BS&T sibling brands) readers completed an e-mail-based survey examining IT asset management (ITAM) implementation plans, objectives and challenges in North American enterprises. One finding: Too few businesses have the full picture of how important it is to execute ITAM in a comprehensive way.