Bank Technology News articles from January 2008

Bank Technology News archives from January 2008

Hiring: IT Recruiters Gear up for a Busy Year.(Survey)
January 1, 2008... Credit crisis, revenue pinch wont dent most hiring Despite the global credit crunch, more than half of U.S. financial services firms are planning to increase hiring in 2008, with IT and sales staff in greatest demand, according to a survey by...

Systems Integration: Command Center CRM.
January 1, 2008... PNC upgrades with Siebel for ambitious single view of sales channels At PNC its referred to as the portal. At Rabobank, its reportedly called the cockpit. Whatever the name, it signifies how important cross-departmental CRM platforms are...

Database: What's In a Name?
January 1, 2008... Much more than bank identity management systems can handle Its somewhat incredible that fifty years into the digital age, large data-intensive, data-driven organizationsfinancial institutionsare still confronted with questions about the...

Edit Index.
January 1, 2008... A ACID Worldwide 10, 39 Accenture 16, 28 Aite Group 10, 18 Aleri 32 Amazon 14 American Express 10 Anderson & Stowe 39 Applied Financial Technology 39 B BancorpSouth 31 Bankrate 14...

Debating The Top Technology Trends Of 2008.
January 1, 2008... The new year brings many things: resolutions, a chance to rethinkproactively where banking is headed, and, of course, a set of predictions on the top technology trends of 2008. Celent issued a recent report with its annual forecast for the...

Card Processing: Shake Down, or Shaking Hands?: Heartland alleges that Chase Paymentech is using close ties with a restaurant acquirer to undercut competition and rip off merchants. Will its suit spur challenges to fight processor and POS arrangements?
January 1, 2008... Heartland Payment Systems calls it insidious. An analyst says its a commonly known practice. A point-of-sale vendor at the center of the dispute refutes it as a mythology. All three groups are describing what Heartland alleges is a tying...

News Makers.
January 1, 2008... China Syndrome: Hack In The Works? A leaked letter from an MI5 intelligence official in the U.K., as well as a new report from McAfee, each warned that specific hacking attacks from China were hitting the U.K., the U.S. and Germany. The...

ID Theft: Assessing the Impact of An Odd ID Theft Survey: The Federal Trade Commission's latest survey seems to prove the difficulty, and maybe futility, of measuring identity theft crime. Will it be used to set back prevention efforts?
January 1, 2008... When the Federal Trade Commission launched its first identity theft survey in 2003 it was cited endlessly, and became a landmark in defining the magnitude of the challenge and influenced subsequent victim assessments. But its new survey...

Top Tech Deals.
January 1, 2008... Number One Metavante Technologies signed a merchant processing deal with Discover Financial Services, covering acquiring and processing, settlement, pricing, statements, risk management and customer service. Metavante clients gain more POS...

Infragard Alliance: Keep 'em Coming; The FBI Loves SARs: Somebody in the J. Edgar Hoover Building really does read all those suspicious activity reports, and really does use them, the agency insists.(United States. Federal Bureau of Investigation)(suspicious activity reports)
January 1, 2008... It may be a long timelike neversince youve heard anyone singing the glories and praises of suspicious activity reports, but there they were, a panel of four FBI agents yukking it up and telling bankers how great they are for filing the 567,000...

Techies.(briefs)(CheckFree Corp.)(Fidelity Investments)(Fiserv Inc.)(Brief article)
January 1, 2008... Fidelity Investments Shared Services Group, which includes its technology group and enterprise operations, tapped Marvin Adams as president. Adams was Citigroups CIO * Following the completion of Fiservs acquisition of CheckFree, former...

Techies.
January 1, 2008... Fidelity InvestmentsE Shared Services Group, which includes its technology group and enterprise operations, tapped Marvin Adams as president. Adams was CitigroupEs CIO * Following the completion of FiservEs acquisition of CheckFree, former...

Message Board.(Brief article)
January 1, 2008... You have to support everything. Christophe Urzau, Gartner analyst, on why banks need to embrace various models to jumpstart mobile banking and payments. China and India produce about a million. The U.S.... around 180,000. Judith...

Web Services: Merchant Acquirers: The Internet Holdouts: Although merchant acquirers have moved some services online, few merchants use those services, and the industry seems little interested in pushing the channel.
January 1, 2008... In a world being rapidly reshaped by technology in general and the Internet in particular, merchant acquirers and their customers appear to be the industrys Luddites. An Aite Group study survey found that that merchant acquirers not only...

CIOs Must Adjust to An Expanding Role: A CIO's role today is more than being a conduit for IT strategy. Banks and other industries require them to be business strategists, salesmen and leaders.
January 1, 2008... Wayne Anderson Author and Consultant BTN: In researching your book, what did you find was the most unexpected challenge - or biggest surprise - facing new CIOs? Anderson: I think the thing that surprised most CIOs that I...

Trust Technology: Remaking Trust for the 21st Century: After resisting most change to their business model for 30 years, trust departments across the country are starting to adopt new technologies that are invigorating the industry.
January 1, 2008... Given how rapidly the wealth management industry has evolved over the last few years, trust departments at many banks seem increasingly like an anachronism, a throwback to the days when America was still on the gold standard and discount...

Compliance: Raising Red Flags On ID Thievery: New regs aim to clamp down on ID theft by mandating that banks look for certain "red flags." A noble enough goal, but will bankers be able to comply by next November's deadline?
January 1, 2008... If you thought meeting the FFIECs guidelines for online authentication was a struggle, just wait until you get a good look at the next regulatory goodie from the Federal Trade Commission. The FTC and a host of other agencies just issued...

In-Branch Marketing: New Branches Amp up Digital Signage: Futuristic branches like that of Umpqua's Innovation Lab are rolling out all manner of new technologies, from the latest touch screen TVs to more controversial RFID readers.
January 1, 2008... Customers entering the Umpqua Innovation Lab branch in Portland, OR are likely to be a bit disoriented at first; the 3,400 square-foot branch feels like a cross between a high-design urban hotel and a technology showroom. From the 25-foot wall...

Risk Without Reward.
January 1, 2008... The meltdown of 2007 exposed the industrys blind spots for risk, particularly as it ricocheted between the disparate and competing interests among lenders, servicers, traders and investors. The result was that many firms took on risk that far...

Nevermind the Models: Wall Street is learning the hard way that mortgages aren't commodities, like oranges, with a simple buyer-seller relationship. Risk models should factor in the tension between home ownership and investors' profit motive.
January 1, 2008... They were financial inventions that would limit risk, provide great returns, were grounded in solid assets. They were perfect, and perfectly popular. Then they failed, and nobody wanted them. Residential mortgage-backed securities, structured...

Remote Access: Metavante Bulks Up In Mobile Arms Race: Metavante's stake in Monitise Americas gives banks access to an NYCE integrated platform. It's one of several strategic moves by tech firms as FIs inch toward mobile payments.
January 1, 2008... If the flurry of recent deal making is any indication, mobile payments may not be too far off. Tech firms are bulking up their product rosters and bank relationships through a series of acquisitions and partnerships. The latest deal comes...

Data Processing: Forestalling a Market Data Overload: Thanks to Reg NMS in the U.S. and MiFID in Europe, market data volume is on the rise and will continue to grow gangbusters. Investing in infrastructure will be a way of life.(regulation national market system)(markets in financial instruments directive)
January 1, 2008... While Regulation National Market System (Reg NMS) rules were only fully implemented in October, there has already been an increase in the sources and amount of market data being published. Add the European Unions not-yet-fully- implemented...

SOBA: Good For What Ails Financial Apps.
January 1, 2008... A large international commercial bankan institution also in the brokerage businessoffers diversified financial services and is building a new Web site to serve the needs of its brokerage customers. In a competitive marketplace where customer...

Capital Raising For the Next Leg of Growth.
January 1, 2008... Seemingly impervious to tumultuous market conditions, the financial services sector continues spending on information technology. Investment in new and replacement technology by retail banking, insurance, securities and investment firms is...