Bank Technology News articles from February 2008

Bank Technology News archives from February 2008

IT Spending: Tight Budgets Put IT Plans In Slow Mode: Celent: Global FI spending to outpace North America.
February 1, 2008... IT spending growth will decline 14 percent among North American institutions in 2008, tapping the brakes on numerous technology projects, according to estimates by research firm Celent. Even so, banks will find that some of their IT initiatives...

Lending: The Woe Of Best Guesses: Evaluating prospects of a small business is tough. A new data service offers some aid.
February 1, 2008... As fallout from the subprime meltdown grows bigger everyday it has brought with it a recessionary mindset, if not yet an official contraction. Given the environment, its not surprising that financial institutions are stepping up loan...

Imaging: Vying for Dominance: Image share technology gets a big boost with Fiserv/Viewpointe deal.
February 1, 2008... Fiservs decision in December to archive checks from 1,600 small and regional banks with Viewpointe gives a huge boost to the image share technology, and is the latest chapter in a struggle between the rival image technologies: image share and...

Edit Index.
February 1, 2008... A 1st Constitution Bank 38 Aberdeen Group 14 Accenture 18 A.G. Edwards & Sons 32 Aite Group 34 Alogent Corp. 11 Anti-Phishing Working Group 14 Arthur Andersen 19 Axciom Corp. 13 B BAI...

SocGen's $7.2 Billion Question: How in the World...?
February 1, 2008... The spectacular revelation of Societe Generales $7.2 billion loss at the hands of a rogue trader is a huge dose of deja vu, though its financial impact is far greater than prior incidents involving young, ambitious traders who commit such...

Anti-Virus: Searching Customers' PCs for Nasty Bugs: Banks using Panda Security's new scanning service can identify, and potentially bar, infected customer PCs from their Websites.
February 1, 2008... A new anti-fraud measure launched by European anti-virus giant Panda Security will give U.S. banks, e-trading firms and online-payments recipients the capability to reach out and scan end-user client PCs for malware to investigate and if...

News Makers.
February 1, 2008... ORACLE-BEA: ACT II FUSING IT TOGETHER Oracles $8.5 billion buyout of middleware specialist BEA Systems came after months of sniping between the boards over Oracles initial $6.7 billion offer. Now comes the next part of the drama: How will...

Top Tech Deals.
February 1, 2008... Number One BEA Systems agreed to Oracles $8.5 billion acquisition offer, months after the San Jose, CA middleware software firm balked at Oracles original offer of $6.7 billion. The deal will add new feature sets to Oracles Fusion suite,...

Cybercrime: Red Carpet Treatment In Trendy Tribeca: A movie documentary funded by Fortify debuted last month; its aim, to convey the grim reality of cybercrime and be more compelling than PowerPoint slides.
February 1, 2008... Its not often that bank CIOs and CISOs get invited to walk the red carpet at a film premiere, but it was a full house at the Tribeca Grand Hotels screening room at the end of January when Fortify Software held the New York premiere of its...

Techies.
February 1, 2008... Acxiom Corp. named John Meyer CEO. Meyer is an EDS and Alcatel-Lucent veteran * Fiserv appointed Denis OLeary, once CIO at JPMorgan Chase, to its board, and also announced Richard K. Jones will join as evp and CIO * Janey Place joined The Santa...

Message Board.(Brief article)
February 1, 2008... This is not a dying business. Its a declining business. Joe Brannon, evp, processing services, BB&T, on check processing. Maybe those $80,000 motorcycles had gold-plated handlebars. John Zdanowicz, AML expert and president of...

Online Security: "Best-in-Class" Firms Show Value of Security: An Aberdeen survey of various companies involved in online consumer transactions found that security leaders more readily achieved strategic business goals.
February 1, 2008... Its no secret that online customers want to feel secure but dont want safeguards that impede their online experience. As challenging as this demand is, the best-in-class companies are by and large delivering, though a report from Aberdeen Group...

Taking 'Off the Shelf' Out of the Picture: The need to merge separate functions and new portals of information were behind JPMorgan's adoption of an inherited, in-house CRM solution from Bank One.
February 1, 2008... After Bank One merged with JPMorgan Chase, technology experts in its investment banking division decided to stop using Siebel CRM and move to an in-house system. Ken Janssens, now an emerging markets business technologist for Europe, the Middle...

Network Security: Breaking Down the Firewall-on Purpose: Standard Chartered Bank has a radical idea: a perimeter fence hurts business operations and can't be secured anyway, so don't bother. Security must occur at the packet level.
February 1, 2008... John Meakin just might be the face of the future for banking network security. If thats so, dont look to the industrious software cocoons of Silicon Valley and New York for answers. Look to a bustling port southeast of Beijing. Its here...

Relationship Pricing: Customize Fees And People Feel Special: National City has adopted an SOA-enabled, silo-busting pricing strategy based on a customer's total business with the bank to deepen the relationship. Guess what? It works.
February 1, 2008... Bank fees have long been a one-size-fits all jacket, but some institutions now offer a custom-tailored experience to differentiate themselves and grab wallet share. Weve been moving away from a product and line-of-business focused culture...

Open Road.(Company overview)
February 1, 2008... The rise of consumer-driven healthcare is giving banks plenty of opportunity to accumulate assets and fee income, and otherwise insert themselves into the revenue cycle between insurance companies, third-party administrators, employers,...

Credit Cards: Capital One Furthers Card Customization: The McLean-VA company's rich Internet application (RIA) gives people freedom to design the terms of their cards; could RIAs be applied next to bank accounts and loans?
February 1, 2008... If you can customize your new car, why shouldnt you be able to customize something as simple as your credit card? Its this concept that led Capital One to launch its new Card Lab in November. As anyone who has bought a new car knows there...

Foreign Exchange: Big Banks Have a Yen to Offer Retail, Web-based Forex: Citi joins Deutsche and other large institutions in extending Internet-enabled cross-currency trading to individual investors.
February 1, 2008... Citis the latest bank to remove the velvet ropes to the worlds largest investment market, a virtual high-rollers club where the doors are almost always open. With foreign exchange, youre talking about a 24-hour market, says Peter Klein,...

Compliance: Overseeing "Legal" Insider Trading: All the bad publicity aside, stock options continue to play a big role in compensation arrangements, prompting the design of improved tools for trading and reporting.
February 1, 2008... The general public sees insider trading in terms of grand jury indictments and perp-walking CEOs. But regulators themselves are just as interested in the more innocuous, everydayand legalactivity thats at the center of most executive...

How to Design Non-Disruptive Network Rules.
February 1, 2008... Thursday morning, seven a.m., your senior branch manager walks into her office, settling in to begin another harried workday. This morning seems no different than any other morning; however, not even one cup of coffee into her normal routine,...