Bank Technology News articles from February 2003

Bank Technology News archives from February 2003

MIGRATION STRATEGIES: A Virtual Bridge for Merrill's Migration.(virtual machines)
February 1, 2003... NT is on the way out, virtual machines are in the redundancies that come along for the ride when an entire enterprise is moved from one operating system to another may not have to be tolerated much longer by CIOs-not if a relatively new...

PAYMENTS: Canadian Five Taking Control: Canada's big boys bringing P2P mainstream.
February 1, 2003... Canadian consumers have long bemoaned their nation's banking oligopoly, where five institutions control more than 80 percent of the market, as uncompetitive. But as a recent technology deal illustrates, concentration has its advantages. ...

CUSTOMER SERVICE: Is A2A the Way to E-Banking Payday?: A2A transfers finally get a shot in the U.S.(account-to-account transfers aka inter bank fund transfers)(Industry Overview)
February 1, 2003... Banks have been searching high and low for ways to lure customers to the Web, and many are starting to say the answer can be found in account-to-account (A2A) transfers. A2A services, also known as interbank fund transfers, while embraced...

Merge, Purge or Scourge? R&C Firms Face Reality.(Industry Overview)
February 1, 2003... Like the financial institutions that buy their services, research and consulting firms are coming to the same conclusions as their clients: the ticket to greater revenues and profits may come through mergers and acquisitions. A spate of...

International: HSBC s On-Line Homecoming: The bank is pushing Web banking in its old backyard.
February 1, 2003... HSBC is an indelible part of China's history-it's even got two of China's largest cities in its name. But it's going to need a lot more than a name to spread on-line banking to the world's largest country, a land with a dizzying array of...

....NewsMakers....NewsMakers....NewsMakers..........(Brief Article)
February 1, 2003... BofA Sick to the Slammer One of the worst viruses to hit the Internet in almost two years, the "SQL Slammer" did more than just slow on-line traffic at the end of January. Bank of America saw a majority of its 13,000 ATMs affected by the...

INVENTORY: Fleet's Taking Stock of Its Tech: The bank's valuation of its facilities has some talking sale.
February 1, 2003... Fleet's been under the gun to improve its financial performance for much of the past year, while dogging takeover rumors at the same time. The beat on the Street is Fleet has until about the end of the year to turn things around before it...

Top Tech Deals.(Brief Article)
February 1, 2003... 1 CSFB plans to sell its Pershing unit, which provides clearing and processing services to 850 clients, to the Bank of New York for $2 billion in cash. 2 Ameritrade has sold its Kansas City data center to MasterCard for $23.5 million in...

UK's Big Three Take Their Hacks at Selling E-Billing.(Barclays, HSBC and Lloyds)
February 1, 2003... Barclays, HSBC and Lloyds-three of the largest financial companies in the United Kingdom-hope to succeed in electronic billing where others have failed in recent years. Together with software company Unisys, the three financials have created a...

2003: An On-Line Banking Odyssey.
February 1, 2003... Cara's been providing sales service to First Direct's Web banking division for only two months, but that's been more than enough time for her to commit pretty much all of the UK telebanker's products and services to memory. She confidently...

TECHIES.(Brief Article)
February 1, 2003... After six months of searching for a replacement for former CIO Robert Whitehead, SunTrust has finally found its man. Timothy E. Sullivan, former evp and group technology executive at Wells Fargo, has joined Atlanta-based SunTrust as its new...

Message Board.
February 1, 2003... "We took the coward's way out and supported both. It proved to be a good choice." Paul Grabscheid, vp of strategic planning, Intersystems on the language battle between Java and Microsoft. "Even in a recession, good people are in short...

By the Numbers.
February 1, 2003... MILLIONAIRES HAVE BECOME A LOT more particular when making financial decisions. And many of their behavioral changes can be linked to a generational shift that's seen more of North America's youth catapult into the rich category in the last...

Profile of American And Canadian Millionaires.(Illustration)
February 1, 2003... Figure 1 US Canada Average age 55 55 Have a college degree 69% 45% Average Income US $194K C $104K ...

Soloists Use the Net to Trade.(Illustration)
February 1, 2003... Figure 2 On-line Activities of Millionaires During the Past Year. Delegators Validators Soloists All Picking Stocks 5% 18% 29% 19% Buying-Selling Sto 6% ...

Investment Products Top The List of Things Managed On-Line.(Illustration)
February 1, 2003... Intend to Intend to Manage on-line Research on-line Have in the next yr. in the next yr. Margin Loan 5% 13%...

Outsourcing is More Than Just Jobbing Out.
February 1, 2003... It's a phrase most everyone involved with banking has heard or said in some shape or form to illustrate why financial firms are now contracting billions of dollars in IT work out to external specialists: "They're a bank, not a technology...

Consumer Banking: SocGen Making Branches Pay Off: French bank implements CRM technology to up sales.
February 1, 2003... Societe Generale is hoping to steal a march on its French rivals by using CRM software to turn its branches into what it terms "specialist sales centers." Administration and transaction processing will be moved out of the branches to...

Far From Dead: Digital Signatures Getting New Life.
February 1, 2003... When president bill clinton signed the Electronic Signatures in Global and National Commerce Act into law in the waning days of his presidency in 2000, it was viewed as a watershed for a sweeping new breed of technology that would have...

Got to Have It Where to Get It.(Brief Article)
February 1, 2003... The expression "be careful what you wish for" is something that may come to haunt outsourcing firms in the next year or so. The increasing interest in outsourcing-particularly among the largest banks-is good news for service providers and...

Outsourcing Goes On-Demand.(Industry Overview)
February 1, 2003... Bankers like JP Morgan Chase's John Schmidlin, CTO of enterprise services, are increasingly looking to outsourcing firms to help them slash inefficiencies in commodity services and gain the upper hand in more strategic business partnerships....

The Project that Carries a Passport.(Industry Overview)
February 1, 2003... There are so many issues pressuring businesses these days, it's hard to even organize them into categories. But firms in and out of financial services are finding that one phenomenon provides at least some relief-off-shore IT outsourcing,...

What's Hot Now.(outsourcing according to Accenture research)(Industry Overview)
February 1, 2003... Smaller banks may soon be fighting for a seat at the outsourcing table as larger institutions recognize the value of offloading commodity-like services and business processes. This is good news for those outsourcing firms able to provide the...

Directory.(Directory)
February 1, 2003... Alltel Information Services 601 Riverside Avenue Jacksonville, FL 32204 Tel: 800.847.7359; 501.220.4126 Internet: alltelfinancial.com Principal in charge of financial services: Jim Milligan, president of Alltel...

Internet Banking: Better Late Than Never.(Forum CU)
February 1, 2003... From where he sits, Doug True finds winning the battle between credit unions and banks means occasionally thinking like a bank-and a very forward-looking bank at that. As CIO of FORUM CU's technology efforts, True oversees an Internet-heavy...

From Totally Free to Totally E, Charter Bets a Boost.
February 1, 2003... There's something funny about Charter One. While seemingly every bank of similar size and beyond rushed to begin offering Internet banking years ago, Charter One sat on the sidelines and waited. It wasn't until March of 2001 that the $40...

Need to Beef Up Security? Just Say the Word.(voice authentication)
February 1, 2003... Biometric technology has always seemed like a leap into science fiction for bankers. The technology allows the identification of people based on a defining biological characteristic such as the retina, fingerprint or sound of the voice. It...

Visa's Letting Euro Banks Know How They Stack Up.
February 1, 2003... Seizing an opening to bond even closer to its client banks in the Eurozone and U.K., the European subsidiary of Visa International is letting members in on vital card performance benchmark data courtesy of fast new machines. The new data...

E-Payments Should Be a Reality for Major Banks.
February 1, 2003... F or decades, corporate accounts payable and accounts receivable departments have maintained manual, labor- intensive, and slow payments processes. But while their desks remain covered with purchase orders, invoices and checks, some...

Managing Outsourcing Gets Complex.(Industry Overview)
February 1, 2003... Outsourcing has grown in complexity, giving rise to the need for more sophisticated management of outsourcing providers. As such, methods used to manage outsourcing relationships become dependent on the complexity and breadth of what is...