Bank Technology News articles from December 2007

Bank Technology News archives from December 2007

Enterprise Fraud Management: HSBC Boosts Bottom Line with Anti-Fraud Tool: SAS system reduces costs per item by 53 percent.
December 1, 2007... HSBC is deploying the first major enterprise fraud system by an international financial institution, and thus making a strong case for centralized anti-fraud efforts. HSBC found during its U.S.-based pilot that improving fraud management...

E-bills: Hiding in Plain Sight: Profitable Customers.
December 1, 2007... Electronic bill presentment services, cast as a key support driver for billpay services at banks, might just be profit centers in and of themselves. In a new study sponsored by CheckFree Corp. using a year's worth of customer data from...

Fraud: TiVo Goes Beyond The TV: Raytheon Oakley's "TiVo-like" technology offers data leak replay.
December 1, 2007... Ask almost anyone who uses a Digital Video Recorder (DVR) and they'll tell you the technology has changed their lives, and they can't imagine how they watched television in the past. Raytheon Oakley Solutions is hoping a similar technology will...

Edit Index.
December 1, 2007... A Aberdeen Group 63 Accenture 33 Actimize 70 Aite 18, 24 Algorithmics 16 American Bankers Association 10 AOL 35 Apple 33 Aspen Marketing 34 B BAI 16, 20, 38 Bank of America 10,...

Scoring Banks' Compliance With FFIEC Guidelines.
December 1, 2007... Compliance with FFIEC guidelines brought out the worst in many bankers. There hasn't been as much bellyaching about hitting a deadline since the feared Y2K, which, in the end, was much ado about nothing. The same can be said about hitting the...

Resiliency: Broadband Needs to Get Much Broader: Most disaster contingency plans depend on employees working remotely. But an overloaded Web may make that difficult. Will the feds have to take down YouTube?
December 1, 2007... With the new millennium, financial institutions have come face-to-face with several catastrophic events that have tested their business continuity and disaster recovery plans: 9/11, SARS, Katrina, and the possibility of an avian bird flu...

News Makers.
December 1, 2007... PHISHY PHONT PHAKES ASCIING FOR TROUBLE RSA found another unique form of attack in October which, while rare, has the potential for scammers to easily fake a bank site. RSA found a registered internationalized domain name using a...

Word Around Town: What Happens in Vegas, Stays in Vegas?: What do Dr. Alan Greenspan and Sir Bob Geldof have in common? BAI, and not much else. The duo were among those doling out wisdom at RD.(Bank Administration Institute)(retail delivery)
December 1, 2007... With all due respect, Dr. Greenspan, get over yourself. Or so was the sentiment of this journalist attending BAI's Retail Delivery conference in Las Vegas last month. That the former Federal Reserve chairman feels compelled to bar all members...

Techies.(Brief article)
December 1, 2007... Banner Bank's Steven W. Rust is now EVP and CIO at the Walla Walla, WA institution. He had been SVP and CIO since 2004 * World-Check, a provider of open-source risk intelligence on individuals and businesses, appointed Mike Ainslie to the...

Message Board.
December 1, 2007... "Dude, I get paid $9 per hour." DeLaRue svp Michael Bielamowicz, sarcastically, on the service demands of tellers, who are not equipped to sell 40 products and handle customer duties. "We don't want to have to foreclose on their...

Payments: Growth of Debit-Card Use Outpaces Credit Cards: Are Americans outgrowing credit cards? For the past few years, debit-card usage has grown by double digits, far ahead of credit cards. Meanwhile, check use is fading fast.
December 1, 2007... The U.S. economy may be slowing, but debit-card usage remains strong and is growing. In a recently published report, TowerGroup found that debit-card transactions grew three times faster than credit cards between 2005 to 2007, a trend the firm...

SMS Use Overtakes The Web at FNB: South Africa's FNB Bank rolled out mobile banking in 1999; soon, users of its SMS banking format will outnumber those customers using Internet banking.
December 1, 2007... Len Pienaar, CEO FNB's Mobile Transactions Division Chuck Drake, EVP of Marketing Clickatell Len Pienaar, CEO of FNB's mobile and transactions division, was at BAI's Retail Delivery conference with Chuck Drake, evp of...

Supply Chain Management: Shedding Light on the supply chain: Wachovia's TradeXchange is designed to boost clients' visibility into the financial supply chain; it's also designed to keep Wachovia relevant in a fast-changing trade environment.
December 1, 2007... With letters of credit-once a linchpin of global trade-less and less in demand, Wachovia, which pioneered LOCs over the Internet a dozen years ago, faced a serious dilemma: how to stay relevant. The bank's response has been to push...

Customer Feedback: Will Egg's research Tactics Hatch at Citi?: There's much to admire in Egg's marketing machine, how it quickly gathers and implements client feedback. The trouble Citi confronts is whether the service translates into profits.
December 1, 2007... Citigroup's purchase of the UK-based Internet bank Egg could have a much bigger impact going ahead than the $1.13 billion deal would indicate, bringing not only new accounts and credit card balances into the fold but also introducing Egg's...

Small Business: Taking Small Biz To The Web-Again: As more and more banks zero in on small-business owners, their Web sites are getting facelifts. BofA is even offering a separate site. But are banks still missing the point?
December 1, 2007... It's no secret that the small-business segment of America has been an ineffectively tapped market. Banks, both large and small, have aggressively pursued consumer-banking customers, as small-business owners have been forced to survey the field...

Custody: Remaining Active in Corporate Actions: Faced with a fast-moving global market and $15.6 trillion in assets under custody, JPMorgan is boosting accuracy and speed of corporate-actions information through automation.(J.P. Morgan Chase and Co. (New York, New York))
December 1, 2007... The custody business is not generally viewed as a dynamic corner of the market-and that may never change. But large institutions face mounting challenges around the management of their positions in a global environment, particularly overseeing...

The Rise of Community.
December 1, 2007... Peer-to-peer exchanges are growing rapidly in terms of membership and loans funded, defaults are miniscule, and now there's talk of a secondary market for these loans. Of course, P2P is no threat to banks-yet-but the rise of these exchanges,...

Face Time With GenY: A handful of traditional banks are starting to toy with the wildly popular social networking sites of Facebook and MySpace. What they're quickly finding is a world of consumer control.
December 1, 2007... Leave it to a Silicon Valley credit union to become the first financial institution to bring online banking into Facebook, the social networking site that boasts nearly 50 million members, about half of which visit the site every day. In...

Mobile banking: Are Texting Services Here to Stay or Not?: Texting services are no stop-gap deployment. More and more banks are betting that texting, the most basic mobile phone service, will endure in a next-gen world.
December 1, 2007... The conventional wisdom on mobile banking is that it needs "sexy"-fast speeds and branded-Web interaction-to catch the interest of technology-smitten financial consumers. But over the last two months, it's been plain-Jane, text-message...

Distributed Capture: RDC Reliability is Put to the Test: Desktop check scanners for the remote-deposit or teller-branch capture environments require some hardware downscaling. That is not to be confused with simplification.
December 1, 2007... No health-club office manager or remote-branch bank teller needs the fastest check scanner available, but he does need one that's reliable and easy to use-and that itself is a technical challenge. The hum of a computer terminal in an office...

Unlocking the Value in Supply Chain Finance.
December 1, 2007... Globalization is driving a growing interest in global supply chain finance. According to an Aberdeen Group report released earlier this year, "Technology Platforms for Supply Chain Finance," more than 69 percent of companies surveyed said they...

One Last Look.
December 1, 2007... The Innovators 2007 were celebrated in high style at the Wynn Las Vegas last month. BTN feted the 25 most progressive individuals and companies in financial services at a gala honoring their technology achievements. More than 120 honorees,...