Bank Technology News articles from January 2005

Bank Technology News archives from January 2005

Disaster Recovery: How Banks Faced 'ivan The Terrible': A lively hurricane season put plans to the test.
January 1, 2005... Disaster recovery can often seem like a very theoretical problem, the perception often being that the most likely real-world disaster will be a power outage lasting a few hours. But tell that to the bankers of Florida and the Gulf Cost, which...

Payments: PNC Renews the Virtual Debit Card: An old idea looks for a receptive environment.
January 1, 2005... PNC Bank rolled out a new program in time for the holiday shopping season, which is designed to alleviate consumers' security concerns on on-line commerce. The program, a "virtual debit card" called eSpend, is more of a recycled idea with...

Edit Index.
January 1, 2005... A Aetna 28 AMR Research 28 Associated Bank 32 Authentify 32 B Bank of America 38 Barclay's 32 Bay Bank Systems 28 BB&T ...

Can IT Investments Sustain Growth Across FIs?
January 1, 2005... As CEOs and CFOs become more involved in how technology investments will shape the growth and operational efficiency of their financial organizations, CIOs across the industry are finding that what they bring to the table is vital to ensuring...

Processing: BB&T Cashes In Its CHIPS For a Better Backstop: Concerns over disaster recovery spell a need for a second STP location.(Clearing House Interbank Payments System)
January 1, 2005... The need to have safety backup is pervasive, touching all aspects of a financial institution's business-and BB&T is among those finding that payments processing is no exception. That's one of the major reasons why the institution is adding...

News Makers.(Brief Article)
January 1, 2005... Finance execs Prepping for spending hikes Nobody's waiting for the booming '90s to return, but CFOs do expect accelerated growth in capital and technology spending in the next 12 months. According to the December "CFO Outlook Survey" by...

Top Tech Deals.(Brief Article)
January 1, 2005... Number one Oracle signed an agreement to buy PeopleSoft for $10.3 billion in cash, ending a long and controversial acquisition battle. Oracle says the deal is expected to increase its earnings per share by one cent in fiscal 2005. ...

Techies.(BSG Financial,SiVault Systems)(appointments )(Brief Article)
January 1, 2005... Mark Sievewright, former CEO of TowerGroup, joined Fiserv as svp of business development. * BSG Financial, a software provider to the financial services industry, promoted Dennis Harrod to vp of Information Technology. * Russel Davis joined...

Paper-Less: The March of E-Payments Hits a Big Milestone: The Fed says Americans are using electronic channels more than checks for the first time.
January 1, 2005... There was no ceremony to mark the occasion, but there's no question the changes in American payment habits have hit a substantial symbolic marker; the use of credit cards, debit cards and e-billing passed paper checks for the first time ever in...

Message Board.
January 1, 2005... "The boom in value is over." Amy Brandt, president and CEO of WMC Mortgage, on the pressure to use innovation to cut costs and increase speed and execution in mortgage lending. "Forex is growing by leaps and bounds." Ross McKay,...

Compliance: Insurers Should Focus on: Strategic, Not Tactical, Fixes Sarbanes-Oxley, Gramm-Leach-Bliley, HIPAA, The USA Patriot Act. This alphabet soup is tough on a budget.
January 1, 2005... The compliance department's main function, according to Celent Communications analyst Matthew Josefowicz, is to "step on the brake, pester everyone with demands, and, generally make it difficult to get things done." If so, insurance companies...

Is Instant Messaging Worth The Trouble It Poses?: Firms still aren't sure how to utilize IM firmwide. Growing security concerns add to the situation's complexity.(Interview)
January 1, 2005... New technology that protects networks from instant messaging related infection is just like the pioneer days of Internet filters-the originally stated focus is to keep employees from wasting time using new technology for personal reasons. But...

Business Strategy: technology and the bottom line: Assessing the business value of existing technology and new investments has always been a thorny issue. But it must be done. After all, that which cannot be measured cannot be controlled.
January 1, 2005... IT's value is based solely on its direct contribution to profitability and shareholder value, accomplished by supporting a company's strategies and improving its operations. By extension, the underlying management principle is simple: a company...

Customer Profitability: To Boost sales Banks Try to Be Mr. Fix-its: Banks and brokers are trying to tune up loyalty outreaches and boost walletshare by finally moving away from episodic cross selling to a long-term troubleshooting approach.
January 1, 2005... CRM pros see promise in an evolving change in how institutions reach out to customers, with the use of data and service enhancements large and small to gain customer intimacy finally winning out over quick product-focused selling. Ramesh...

The People(soft) V. Larry Ellison: The contentious battle between Oracle and PeopleSoft was always more about money than customers. But now that Oracle CEO Larry Ellison has achieved a hard-won and expensive victory, he and his team must convince clients to stick around.
January 1, 2005... The conclusion of the Oracle-PeopleSoft saga was, paradoxically, startlingly sudden and also rather anticlimactic. Though PeopleSoft shareholders had tendered a majority of their shares to Oracle on November 19, signaling the takeover would...

A Phish Story: Phishing attacks are expected to more than double in 2005, spreading to small banks, and putting millions of consumers at risk of fraud. The dollar losses are still small, but will the attacks undermine consumer confidence?
January 1, 2005... Down through the ages, con artists and scammers have always followed the money, so it should be no surprise that as e-commerce has gathered steam, the thieves have followed consumers onto the Internet. One of the most recent iterations of such...

On-line foreign exchange: Wells, S1 Tag Team International Trade: The alliance's new on-line exchange platform is born as cross-border small business matures thanks to NAFTA and the euro carries greater weight globally.(Wells Fargo & Co.)(S1 Corp. (United States))(North American Free Trade Agreement)
January 1, 2005... International trade is growing by leaps and bounds for Wells Fargo, which hopes a Web-based foreign exchange alliance with S1 will place it firmly ahead of the curve as cross border business banking continues to grow. The financial...

The Post-october 28 World: It's Time For A Reality Check On Check 21: Believe it or not, there are still many misconceptions about the law among the public, which banks must battle as they gradually implement new checking technology.
January 1, 2005... As October 28 approached stories began to appear across the country about how corporate America, in cahoots with Washington, D.C., had hoodwinked the consumer once again. It had nothing to do with war or taxes, but of something nevertheless...

Does Your IT Firm Need Deep FI Experience? Yep.(financial institutions)
January 1, 2005... At a recent financial industry association meeting, the conversation turned to a classic topic: Which is better? Best-of-breed or single source products? Best-of-breed products have clear advantages of working with the best technology...

Outsourcing Evolves Toward 'Best Shoring'.
January 1, 2005... Whether to outsource is no longer the question most financial services companies are asking themselves. In the banking industry, we are all familiar and comfortable with buying services from third-party suppliers-activities such as software...