Bank Technology News articles from April 2008

Bank Technology News archives from April 2008

Mobile Banking: Mobile Play Puts Banks In Back Seat: A blueprint for bank disintermediation?
April 1, 2008... Mobilians International, a South Korean-based mobile-phone payments company, has caused a stir since the U.S. launch in October of its MobiCash product, which allows people to charge purchases made using their mobile phones to their monthly...

Personal Finance: Web Tools Make Waves: Banks face a dilemma by the rise of money management Websites.
April 1, 2008... Jason Knight likens desktop money-management products to a Japanese video game called Tamagotchi. The co-founder and chief executive of personal-finance Web site Wesabe says that while the game was initially popular, users simply lost interest....

Internet Marketing: The Pros And Cons Of Search Engines: Once again banks grapple with how best to use the Web to market themselves.
April 1, 2008... The Internet poses ever-changing marketing challenges for financial institutions; the center of the debate these days is the rising popularity and cost of paid search-engine marketing. In simple terms, which has the greatest value: the...

Edit Index.
April 1, 2008... A Aite Group 11, 41 Allegiance 20 Amazon 39 Application Security Inc. 27 Archer Technologies 27 Armored Online ...

Ready, Set No-Go For Mobile Banking In The U.S.?
April 1, 2008... The ubiquity of cellphones in the U.S. could be construed as the precursor to a supply creates demand scenario for mobile banking and payment services for the masses. But such is not the case, and analysts are divided as to whether mobile...

Identity Management: The Lure and Peril Of OpenID: The open-source-credentials movement is perceived as too unproven for many institutions. Yet it might still showcase how lightweight, user-based frameworks can kick-start ID federation.
April 1, 2008... OpenID is a geeks paradise, providing an identity credential that Web users can ferry to different blogs, gaming and social-networking sites. So far, the open-source, three-year-old ID framework is supplying 30 million users with a trusted,...

News Makers.
April 1, 2008... PCI COMPLIANTBUT SO WHAT? Hannaford Bros. executives thought they were good to go after being certified PCI compliant in February, but they were wrong. About 4.2 million credit and debit card numbers were pinched from Hannaford, yielding...

Commentary: Analyze This: Greed Is Never A Good Thing: JPMC's $10-per-share buy of Bear Stearns is the latest in the subprime chapter. An overdependence on risk analytics and modeling is what got things rolling.
April 1, 2008... Gordon Gekko is alive and well on Wall Street. Hes just not as good looking as the character portrayed by Michael Douglas in Wall Street. But this subprime crisis has all the earmarks of an overblown Oliver Stone film: Larger-than-life...

Techies.
April 1, 2008... Citigroup named Brian Leach its chief risk officer, and acting CRO for the Institutional Clients Group. Suneel Bakshi, Charles Money, Greg Hawkins and Adil Nathani were named new senior managers in Citis risk organization. Meanwhile,...

Message Board.
April 1, 2008... You wouldnt think a $400 to $600 expense for a scanner would be that big of a deal, but it is. Jack Heugly, svp of treasury management at Zions Bancorp, on the difficulty in selling small businesses on remote deposit capture. I dont...

Customer Satisfaction: Young Folks Ask Banks: Where's the Love?: Bankers take note. Generation Yers are the least satisfied and least loyal banking customers, yet they are the most willing to consider purchasing another bank product.
April 1, 2008... Switching financial institutions is easier than some bankers want to believe. In fact, clothing retailer The Gap has better customer loyalty than any major retail bank, according to Forrester Research. In the survey, 4,758 Americans were asked...

Internal Controls Need To Be Tightened: Twelve months ago conventional wisdom held that sophisticated risk management verged on near-perfection. Today that assumption is a shambles.
April 1, 2008... The exploits of Jerome Kerviel at Societe Generale were just the latest in a long line of headline grabbing rogue traders. Toshihide Iguchi cost Daiwa Bank $1.1 billion and Barings Banks collapse was caused by 28-year-old trader Nick Leeson....

Card Marketing: Consumers Heavily Prefer one card: TransUnion and Edgar Dunn are seeking "preferred" status for certain cards with The Revolver Model. It attempts to marry balance management with credit-card usage.
April 1, 2008... Getting someone to sign up for a credit or debit card with a shrewd marketing campaign is less than half the battle for a bank. The never-used card is of little worth to either the issuer or the user. While many consumers carry a bunch of...

Customer Service: Closing the Loop On CLIENT Feedback: To respond more quickly to customer complaints and to spot customer trends across the company, Vectra and its holding company, Zions Bancorp, have turned to enterprise feedback management.
April 1, 2008... Collecting customer feedback, responding to complaints, identifying trends and translating all that data to front-line employees for better customer service has long been a particular challenge for banks. A banks ability to respond is all...

The FutureNow List: What a difference a year makes.(Company overview)
April 1, 2008... When The FutureNow List debuted a year ago IT security emerged as a spending priority, with the lions share of investment made in secure authentication. But as the first signs of the subprime crunch gave way to a crisis and yet another rogue...

Payments: Processors Face 'Alternative' Dilemma: Only a handful of payments processors are positioning themselves for the non-card revolution online. That could be a big mistake, given consumer and merchant preferences.
April 1, 2008... Seventy-four percent of online consumers familiar with alternative online payment options like PayPal have used them, according to Forrester Research. Nearly half said they were easier than using a credit card, and 36 percent prefer merchant...

Remote Deposit Capture: Small Changes Can Produce Big Gains: Worried that low fee income won't justify the cost of providing remote deposit capture, banks have been slow to offer the service to small businesses. But that simple equation belies the value of capturing the float and reducing branch traffic.
April 1, 2008... Small-business remote deposit capture (RDC) has been a tough play for banks, which often cant justify the low fee income and added support costs of such small-volume clients. But times are changing. More than one-third of major U.S. banks...

SOA Security Policies Across Partnerships.
April 1, 2008... The idea of business partners sharing security policies for electronic transactions is relatively new. Until the advent of Web services and service-oriented architecture (SOA), most electronic business transactions were conducted through a...

ID-Theft Fears Keep Clients Off the Web.
April 1, 2008... The electronic channel is broken. Rather than flocking to this convenient channel for communications and transactions, bank customers are hesitating and, in many cases, taking a step back, concerned about their online security. Financial...