Bank Technology News articles from January 2002

Bank Technology News archives from January 2002

Coming of Age For e-Payments: With the threat of anthrax slowing down mail delivery, Americans are giving e-payments a closer look.
January 1, 2002... The United States Postal Service finds itself an unfortunate casualty in the terrorists' crusade to destroy America. In the wake of the Sept. 11 attacks, mail to the New York and Washington metropolitan areas has been gradually climbing back to...

THE HUMAN FACTOR: Financial technologies are changing business people, not just processes.
January 1, 2002... Financial technology, like most IT, frequently aims to take people out of a process to reduce cost, eliminate human error and generally speed things up. That's one side of it anyway-the automation side-and it boosts productivity by definition....

Branch Automation Tools Open New Channels: The newest technology focuses on helping data to be everywhere at once.
January 1, 2002... As the Internet grew into an online banking channel in the mid- 1990s, banking industry experts were predicting the decline and eventual demise of the physical branch. However, as they say, the future isn't what it used to be. Instead of...

Corrections.(Correction Notice)(Brief Article)
January 1, 2002... In our December issue, the article titled "IBM Maintains Printing Output Trends" incorrectly quoted Charlie Corr of CAP Ventures as referring to "the introduction of the 4100 color printer." IBM's Infoprint 4100 printer is a high volume,...

Wells Fargo Will Tap e-Bank's Software Applications.(Brief Article)
January 1, 2002... Wells Fargo & Co. has agreed to an incremental deployment of Columbus, OH-based e-Bank's solution to serve as the hub of Wells' anytime-anywhere banking strategy. The financial terms of the contract, which calls for phasing in the solution over...

Latin America Set For ATM Spike: Consumer demand is making Latin banks reassess their ATM strategies.
January 1, 2002... Latin America is poised for a heavy adoption of ATM terminals in the next few years, largely due to the fruits borne from major privatization efforts in the region and the surging demand for debit cards among consumers, according to a recent...

Citi's Biometrics Tease: Yet another banking giant's quest for the ultimate in security.
January 1, 2002... Citibank has officially thrown its hat in the biometrics ring. Well, sort of. During a Webcast in late November, the banking giant, along with BioNetrix Systems Corp., providers of authentication device management systems, extolled the virtues...

Short stuff...
January 1, 2002... Australian Bank's CRM Strategy Lauded - Dayton, OH-based Teradata, a division of NCR Corp., announced recently that National Australia Bank (NAB), user of both the Teradata data warehouse and CRM solution, received an award for "Best...

Corillian Expands Ties With Microsoft.
January 1, 2002... The two companies will work together to integrate new financial applications into Corillian's Voyager platform. By David Rountree Four-year-old Corillian Corp. reinforced its lifelong association with Microsoft recently, as the two...

Card Delinquencies Declined in Third Quarter.(Statistical Data Included)
January 1, 2002... Flouting expectations about declining consumer credit quality, more people paid off their credit card bills in the third quarter of 2001 than in the second quarter, the American Bankers Association reported in its quarterly delinquency...

AMS, MarketResponse Team Up On CRM Offering.(Brief Article)
January 1, 2002... American Management Systems and MarketResponse International announced recently an alliance to develop new customer relationship management (CRM) capabilities for financial services organizations. The AMS and MarketResponse joint approach...

Fifth Third Taps Unisys' Payment Technology.(Brief Article)
January 1, 2002... Fifth Third Bancorp has implemented the Unisys Payment Information Archive solution, which handles the many requirements associated with truncation, allowing banks to clear payments electronically. Fifth Third is now able to consolidate and...

The list!(Brief Article)(Buyers Guide)
January 1, 2002... Selected Branch Automation Vendors ARGO Data Resource Corp. www.argodata.com BankPro Electronic Data Systems www.eds.com EDS SellStation Financial Objects plc www.finobj.com ActiveBank Fiserv www.fiserv.com...

By the numbers.
January 1, 2002... Knowing your customers well is the key to any good CRM strategy. That's why TowerGroup says banks will spend more money on technology to help them do just that. Meanwhile, it appears credit card issuers are getting to know their patrons just...

Going After the Rich: As more and more banks join the chase for high-net-worth individuals, they had best be aware that business as usual won't cut it.
January 1, 2002... Jerry Weiner, Robert Gunter and Nat Gorham live in different states, have had diverse occupations and have never met. But, they have much in common. They are all married, retired men with affable personalities and considerable fortunes to their...

Citibank's c2it Service Offers Bounty: A commission-based advertising system is the way of the future, proponents say.
January 1, 2002... Citibank has decided to use a different strategy in advertising its person-to-person (P-to-P) payment system, c2it.com, on the Internet. Instead of the traditional flat rate campaign, Citibank has moved to the pay-for-performance model offered...

e.browser: Wells Chooses Financial Fusion.
January 1, 2002... Financial Fusion Inc. announced recently that Wells Fargo & Co., the first and leading Internet bank, has deployed the Financial Fusion Server with UniversalOFX to support the bank's Open Financial Exchange connectivity needs, including the...

Irish Innovation Woos Global Banks.
January 1, 2002... From voice verification to secure online payments, innovative and fast moving Irish financial software companies are scoring successes with international banks, despite the global economic downturn. Ireland, it has been said, has moved from...

Letter from London: A round-up of overseas news from our European editor, Louise West.
January 1, 2002... Europe - The finance sector is the most prepared for an IT disaster, according to a recent survey of IT managers commissioned by Guardian iT, a U.K.-based business critical IT services provider. Of those organizations with business...

Knowledge is Powered: The process of capturing and analyzing consumer data is continuous, so banks must be prepared to try something new as they learn more about their customers' preferences.
January 1, 2002... If gathering data about consumers is the engine of customer relationship management, or CRM, the next interlocking component is analytics-extrapolating and interpreting the data to make better decisions. Effective analytics can gear CRM...

Quantity Counts But Quality Rules: Collecting and storing data is crucial, to be sure, but the best banks are adept at using the information in a variety of ways.
January 1, 2002... Rose Smith. Rose R. Smith. Rosie Smith, CEO, Smith Industries. A Rose by many other names could be your preferred customer. Or perhaps she is a none-too-pleasant credit risk. Who knows about this Rose? The clues lie in data quality....

The Elements of Analytics.
January 1, 2002... Query/OLAP Tools: Tools that allow users to investigate the data and create reports according to user-specified multidimensional criteria. The advantage of using online analytical processing (OLAP) tools against large data sets is that queries...

FundsXpress Gains a New Sales Mavin to Lead It Into 2002.(Greg Constantine)
January 1, 2002... Making the jump from financial IT giants S1 Consulting and Cendant's FISI-Madison Financial to the scrappy FundsXpress Inc. has given Greg Constantine a new perspective on the financial technology industry. As FundsXpress' new executive...

FDIC Vet Joins Consulting Firm.(Cynthia Bonette)(Company Operations)(Brief Article)
January 1, 2002... M ONE Inc., a technology consulting firm serving midsize financial institutions, has tapped Cynthia Bonnette to manage its new information security and technology risk assessment practice. Bonnette is no stranger to financial technology....

Network.(Fimat Group)
January 1, 2002... The Fimat Group, providers of global clearing and execution services to institutional investors, has made the following high-level management changes: Alain Bozzi has been named vice chairman of the Fimat Group and European and Asian Zones...

No Straight Facts.(Brief Article)
January 1, 2002... Although they point to the same business client, these records that contain a mishmash of names and addresses, along with incorrectly categorized information, are a sure sign of data quality problems. ID Customer Name ...

From the Outside: Mastering E-Customer Loyalty.
January 1, 2002... Allowing customers to reach you through every channel is crucial, but so is the integration of all those lines of communication. As we move into 2002, we can look back and begin to measure the continuous impact that the Internet has had on the...

So they say...
January 1, 2002... "This will work with or without smart cards. The whole idea is to add security to existing cards, without getting involved in the huge debate over smart cards." George Wallner, chairman and chief strategist, Hypercom Corp., which...

Inside View:Time for the Tough to Get Going: Sure, 2001 was the most difficult business environment in two decades. But it's history.
January 1, 2002... Happy New Year. Time for a fresh start. And we could use one! I remember (albeit a little more vaguely by the day) that I always preferred the quarter system over the semester schedule in college, because every three months or so you got a...