Bank Technology News articles from February 2007

Bank Technology News archives from February 2007

Customer Service: The Hand Behind the Desktop: AnchorBank is using desktop sharing to help customers remotely.
February 1, 2007... AnchorBank hopes that in the very near future, staff will be able to help customers use the Internet for banking by actually logging onto the customer's desktop to make fixes and help with navigation from a remote location. "One of the...

Wealth Management: A Turf War to Win the Rich: Wealth platform functionality is forging a battle between brokers and banks.(Celent analysis)
February 1, 2007... Over the next three years, the number of affluent individuals in North America is expected to bulge from 30 million to 37 million, fueled mostly by Baby Boomers whose retirement assets mature. In that same timeframe, the amount lining the...

Edit Index.
February 1, 2007... A AccuTech 20 Acxiom Corp. 10, 26 AdviceAmerica 11 AnchorBank 20 Apollo Enterprise Solutions 14 Atlanta Postal Credit Union 31 B Bank of America 14, 26 Barclays 26 C Cape Ann Bank 20...

When Using World's Best Marketing Tool, Show Restraint.
February 1, 2007... After the PC and the Internet, email is the innovation to have the greatest impact on corporate America and consumers. It has transformed not only how people communicate in business and in personal circles, but also the frequency with which...

Legal: Breaches in Court: No Harm, No Foul: Several times in the past year, data breach victims have argued the potential for harm is enough to make banks and other firms pay. Judges have soundly disagreed.
February 1, 2007... A New Jersey woman had lost nothing, save for peace of mind, when she sued Wachovia Securities for losing track of a UPS package that included a printout of her account information. A Minnesota victim of a mass data breach took Brazos...

News Makers.(CheckFree Corp. acquiring Carreker Corp.)(survey on online banking)(outsourcing contracts)(Brief article)
February 1, 2007... CHECKFREE EXPANDS ITS CONSULTING ROLE CheckFree is planning to greatly expand its role in consulting for check and electronic payments convergence, as well as processing and risk management for ACH, check and cash services, with its $206...

Techies.(NACHA - The Electronic Payments Association appointed Leslie Mitchell)(Obopay appointed Aditya Menon)(Apollo Enterprise Solutions appointed Caesar Verdelli)(Brief article)
February 1, 2007... Leslie Mitchell has been appointed director of network risk policy by NACHA, the electronic payments association. Prior to this, Mitchell was with the Risk Management Association. * Obopay, a U.S. mobile payment service provider, has named...

Trustworthiness: Customer Loyalty Stems From Competence: How important is security? Consumers want safety and competence from their banks, which are different values than they want from retailers.
February 1, 2007... From the days of Jesse James all the way to the most heinous phishing scams and data breaches, consumers have always wanted the same thing from their bank-a sense that the people who are holding onto their money know what they're doing. ...

Message Board.
February 1, 2007... "The interaction is simple." Chris Baggott, email marketer, on the ease-of-use and real-time conversational factors that give blogs potential as an electronic marketing channel for financial institutions and other businesses. "Who owns...

Cards: Opportunities Abound In Crowded Payments Field: Although credit and debit card usage accounts for more than half of all in-store purchases, a multi-trillion dollar slice of the payments market remains for the taking.
February 1, 2007... In the course of a decade, card-based payments have doubled in volume to account for 28 percent of all consumer payments. It's nearly half of the payments pie when excluding the amount spent on auto loans, mortgages and other debt vehicles...

Meeting Regulators' Ends, Not Means, Lowers Risk: Favoring an outcomes-based regulatory environment, former BofA compliance chief and UK regulator says 'principles' over 'rules' makes for better risk mitigation.
February 1, 2007... How would principles-based regulation differ from a rules-based system? Principles-based regulation is about effectiveness. When a regulator tries to prescribe what a firm can do to achieve the outcome the regulator's [looking for], it...

Remote Deposit Capture: RDC's Results Go Way Beyond Expense Cuts: Hooking a client up with a remote check scanner can shave expenses and grow deposits. But there are also less obvious impacts on operations, product development and risks.
February 1, 2007... When Atlanta's Piedmont Bank made the jump into image deposit capture more than a year ago, the small business bank expected to nab some additional activity from remote clients. What they didn't expect to capture was a remote suitor. ...

Market Expansion: Cape Ann Trusts Automated Process: In order to serve Baby Boomers better, the Massachusetts community bank is automating the processing of mutual fund trades and trust management functions.
February 1, 2007... Gail Ramos says that in her job as vp and senior trust officer for Cape Ann Bank, the market changes so fast it requires her to reinvent strategy every five years or so. And the latest plan relies more on automated investment models with less...

Don't Shoot The Messenger: Yes, broadband video and marketing blogs are here. Suggestion? First, banks need to finally get e-mail marketing right.
February 1, 2007... A decade and a half after AOL hit the mainstream in the fall of 1989, e-mail is a ubiquitous, essential and inescapable part of daily life. The downside is that of the tens of trillions of emails sent around the globe, the majority are spam....

Picture This.
February 1, 2007... Streaming video, blogs and podcasts are the currency for the networked, so-called MySpace moment. The broadband Internet is taking the latest fascinating leaps to becoming the rich, multi-genre medium it always promised to be. But what's...

Wireless Networks: Broadband Banking Services Moving Out: VoIP and imaging services are taxing T1 line capacity for rural banks, pushing some to balance the benefits and risks of going wireless.(voice over ip)
February 1, 2007... Many IT-savvy banks eagerly invest in applications and services that will build wireless solutions for customers' cell phones and wi-fi gadgets. They have been far less enthusiastic, however, in applying wireless technology for their own local...

Leveraging Compliance: Following the Rules Can Really Pay Off: Regulation is leading firms to focus more keenly on compliance software. But the technology can also be useful in corporate pursuits like marketing and financial planning.
February 1, 2007... When it comes to following corporate regulations such as Sarbanes Oxley and Basel II, compliance often requires the same skills and functions that can be used in other parts of the business, giving some rollouts a "kill...

Data Security: Atlanta CU Posts An Inside Sentry: The postal workers credit union deploys software that prevents unintended exposure of sensitive information.(Atlanta Postal Credit Union)(Brief article)
February 1, 2007... Keeping the business locked down from hackers and other means of electronic theft is a big job, but perhaps not as big as keeping sensitive information from leaking out by accident. "We had data being exposed that we weren't aware of,...

Crossing the Check Image Chasm.(payment transaction regulations)
February 1, 2007... There is a sea change in payment processing, and it possesses all the attributes of an intriguing riddle. It concerns Check 21, the legislation making it easier for banks to transfer check images electronically instead of physically...

Want a Good Response Rate? Better Get Personal.
February 1, 2007... Today, most direct marketing takes the form of push marketing. It pushes email or print collateral out to the mailboxes of prospects who have not requested it. Rather than giving prospects a chance to reach out for a product or service that...