Bank Technology News articles from August 2005

Bank Technology News archives from August 2005

Performance Metrics: Decision Engines Tools Get A Tune-up: JPMorgan Chase tries business rules management.(J.P. Morgan Chase and Co., ILOG Inc., contract)
August 1, 2005... Business-rules engines that guide automatic decisioning in banking software have long proven their advantage, with labor cost savings and better time-to-market outcomes evident for almost two decades.Those rules only maintain their benefit,...

Contactless Payments: No-Touch Cards Are In Touch on Security: Issuers and vendors insist transactions are safe.(transaction services of J.P. Morgan Chase and Co., MasterCard International Inc.)
August 1, 2005... With JPMorgan Chase and MasterCard set to place contactless credit cards in the hands of millions of consumers by year's end, the national rollout of the technology is well under way. And while the technology consists of openly transmitting...

Systems Integration: Leaving Legacies Using One Product Aids Payments Bankwide.(new payment technology helped Union Bank of California N.A. and TD Banknorth in their customer services)
August 1, 2005... TD Banknorth and Union Bank of California enjoy the interoperability and scale benefits of using a single product for a variety of payment functions and channels, creating consistency across the enterprise. They've found that payments, like...

Edit Index.
August 1, 2005... A, B ADP Investor Communications Services 45 Alltel Information Services 46 Almonde 14 AmbrionTrustWave 12 American Express ...

Banks Eye Potentially Big Play in The HSA Business.(health-savings accounts)
August 1, 2005... A glaring bright spot in the banking industry these days is the much-talked about upside of health-savings accounts (HSAs). While bankers and technology providers are generally optimistic, some analysts are urging institutions to temper their...

Data Losses: Cardsystems Takes A Bullet After Breach: Visa and American Express bid adieu to the processor, unable to forgive the firm for the compromise of customer data and flouting association rules. Was that fair-and is anyone next in the firing line?
August 1, 2005... Merrick Bank chairman David Watson says his bank was approached two years ago by representatives of CardSystems Solutions, well before the Atlanta-based processor earned its data-breach notoriety. CardSystems was scouting for a required sponsor...

News Makers.(acquisition by Archipelago Holdings)(outsourcing of Wachovia Bank and Trust Co.)(Brief Article)
August 1, 2005... Wachovia downsizes it, Hires Outsourcing Vet Wachovia, which is planning the transfer of IT work handled now by about 3,000 domestic Wachovia employees, hired a former insurance executive in July to handle IT application, development and...

Top Tech Deals.(Brief Article)
August 1, 2005... Number One Metavante's upping its imaging bench by buying Treev, which sells browser-based documents, for $19.5 million. Treev's technology is used by 14 percent of banks with more than $800 million in assets. Number Two BNP...

Encryption: A Brainy New Weapon Emerges to Protect Data: Quantum key distribution is an innovative way to keep information private. But it has some holes of its own.(quantum key distribution)
August 1, 2005... There are only a small handful of vendors selling a new encryption system called quantum key distribution (QKD), and sources were unaware of any financial institution using it across substantial portions of its enterprise. So what's the...

Techies.(appointments)(Brief Article)
August 1, 2005... James "Chip" Mahan will be reinstalled as CEO of S1 Corp. Mahan succeeds Jaime Ellertson, who will depart the company. Joseph A. Giovino has been elected evp and CIO of First Financial Trust. Morgan Stanley has named Eileen Murray head...

Message Board.(Brief Article)
August 1, 2005... "You just tap and go. That's kind of sexy." John Gould, director, TowerGroup, on the attractive aspects of contactless credit card technology. "I guess somebody has to set the standard and be the scapegoat." Avivah Litan, vp of...

Conversion: ARC's Downward Arc Is Expected to Hit After '08: Accounts-receivable conversion is growing fast, but it isn't expected to peak until 2008, when it will give way to check- image exchange and fully electronic-presentment systems.(accounts-receivable conversion)(Brief Article)
August 1, 2005... Boston-based AITE Group forecasts accounts-receivable conversion items will peak at about 4 billion in 2008, when the demand for ACH check conversion will decline amid wider acceptance of card and on-line payment methods. That's a far cry from...

How to Keep Your Cool in A Summer of Hot E-Fraud.(techniques of bank safety)(Interview)
August 1, 2005... For IT executives in charge of keeping customers and their data secure when just about every news report brings word of another breach, the landscape surveyed by Maureen McCarthy must seem awfully familiar-or maybe just awful. The director...

Cards: Biometrics Stalled Amid The Hype: Shortfalls in fingerprint technology are curbing widespread adoption of new card projects. However, a handful of small projects are moving forward, thanks to the technology's buzz.
August 1, 2005... The good old debit card can't beat new biometric payment systems in the "wow" factor. But as far as most analysts and bankers are concerned, it remains a clear front-runner in the "now" factor. Despite biometrics' growing impact and hype...

Lead generation: Mortgage lenders Go Customer Fishing: The lures that institutions such as Wachovia and the Loan Page are using to attract new customers are plentiful, including on-line chats, marketing partnerships and credit referrals.
August 1, 2005... Real estate is as hot as Internet stocks were in 1999, and while debate rages on whether current investments in the housing boom will eventually face the same fate as investments in Web-based pet food retailers, what's certain is mortgage...

Tech Companies to Watch.
August 1, 2005... Technology companies have always faced keen pressure to deliver the next best thing while fending off stiff competition. The current market's no different. But What's new is the far-reaching security dialogue that's now touching all corners of...

On-Line Banking: Access to Funds Can Be Immediate: Wachovia is the latest of the big banks to introduce immediate opening and funding of on-line accounts. Vendors are hoping for something to click with small banks soon.
August 1, 2005... Web surfers can judge the president's alleged simian qualities at bushorchimp.com or bid on a jar of air formerly breathed by Brad Pitt and Angelina Jolie. But there's still something on the Net that isn't possible, at least through a large...

Electronic Distribution: JPMorgan Will Cut Paper, Up Customer Support: Web, e-mail distribution starting to take hold with institutional investors.
August 1, 2005... JPMorgan Worldwide Securities Services is taking a big step away the exchange of paper-based securities information by offering its institutional investors e-mail and Web access to corporate actions materials. The global custodian is working...

Core Banking Systems: Upgrade Options For Mid-sized Banks: Despite vendor consolidation, community and regional banks still have options in functionality when choosing a new system. But choices aren't all they need.
August 1, 2005... In transitioning from clunky "green screen" interfaces and mainframe hardware to boost efficiency, small and mid-sized banks would appear to be left with little choice when replacing core banking products. Yet recent vendor consolidation...

A Smarter Approach To Business Intelligence Tools.
August 1, 2005... Web Reports. Data Cubes. Dashboards. With Business Intelligence tools in general, the bottom line is these kinds of technology is growing more rapidly than our understanding of it. Many tools provide interesting functions that simply distract...

CEOs Focus More on Value Of IT Than Cost.(Chief executive officers)
August 1, 2005... IT Organizations at FINancial institutions are beginning to feel the heat from a new generation of CEOs impatient to see the value from their IT investments. As employees in IT departments will confirm, new corporate transparency requirements...