Bank Technology News articles from January 2009

Bank Technology News archives from January 2009

MOBILE BANKING: Smart Phones Now Dominate Mobile Usage; Will large screens and mobile browsers eventually make downloadable applications obsolete?(Leading Off)
January 1, 2009... Byline: Rebecca Sausner When the iPhone launched in June 2007 some argued its debut was truly a "game changer" for mobile banking, ushering in an era of smart phones; judging by the numbers Bank of America and other institutions are...

MOBILE BANKING: Small Businesses Want More Mobile Functions; A new Aite Group report finds strong demand for mobile banking products among small business owners. Banks have been slow to awaken but seem to be stirring.(By The Numbers)
January 1, 2009... Byline: Anthony Malakian Advancements in consumer banking technology are sluggish to migrate to small business banking. But when it comes to mobile banking this could be a strategic misstep; small business customers are more interested in...

NEARSOURCING: East On Ice; The financial crisis has rolled from the bond trading desks of Manhattan across Eastern Europe to Asia. Now, as recession bites into those economies, the future of outsourcing in those locales is uncertain.(Business Innovation)
January 1, 2009... Byline: Michael Dumiak This past summer the broad avenues and squares of Kiev were bustling with color and life; young people clambered over the Soviet-era hilltop park overlooking the Dnieper plain and thronged the cafes and nightclubs...

Racing Against The Clock; CIti scored a real coup last summer when it lured Marty Lippert to lead a desperately needed transformation of its operation and technology. ......(Cover Story)(Company overview)
January 1, 2009... Byline: Michael Sisk CIti scored a real coup last summer when it lured Marty Lippert to lead a desperately needed transformation of its operation and technology. Citi is infamous for allowing business units to make their own technology...

ONLINE BANKING: Keeping Up With Mint And Wells Fargo; Several third-party online banking vendors are rolling out PFM lite tools this year, finally catching up to the PFM leaders and bringing their customers up to Web 2.0 speed.(Direct Access)
January 1, 2009... Byline: Glen Fest Banks left behind in the move to next-generation online financial suites may finally get their chance to move to "PFM Lite" in 2009. Several major online banking platform providers, including Fiserv, Intuit's Digital...

Transforming To a Holistic View of Risk.(Perspective)
January 1, 2009... Byline: Chris Leong In the wake of fraud at Societe Generale, there was a strong sense that risk management would remain a front-and-center issue. What few expected was that risk would assume so critical a position so soon - especially one...

7th Annual Bank Technology New the Innovators.(One Last Look)
January 1, 2009... The year will be remembered as one of the most challenging players have faced in recent times, but for a night the focus was on those whose innovation meant progress for the industry. The CIO Summit and The Innovators Awards Gala, held in...

RISK MANAGEMENT: Managing Risks, Not Unknowns; Incorrect assumptions took many firms by surprise, triggering big losses.(Shifting Gears)
January 1, 2009... Byline: Glen Fest and Holly Sraeel After $1 trillion in writedowns, the financial industry must come to grips with a harsh reality: Risk models cannot account for unknown variables, which can deplete liquidity and send institutions into a...

AUTHENTICATION: Banks Beef Up The Locks; Realizing that being "compliant" isn't nearly enough, institutions take a second look at front door authentication and fraud detection.(Direct Access)
January 1, 2009... Byline: Rebecca Sausner Call it Authentication 2.0. It's been more than a year since Bank of America introduced SafePass, the out-of-band authentication process that sends a one-time password via SMS to online banking customers to secure...

Driving Business Results with Technology In 2009.(Firing Line)
January 1, 2009... Byline: Holly Sraeel, Editorial Director The need for innovation to drive business results is not a new phenomenon in financial services. In the 16 years that I've been covering the industry, there is abundant evidence of this, whether...

MOBILE SECURITY: The Paradoxes Of Mobile Adoption; Mobile banking security threats are benign. That's good for consumers, who are still scared, and bad for bankers, who aren't scared enough.(Leading Off)
January 1, 2009... Byline: Glen Fest A new Javelin Strategy & Research report reveals layers of paradox involving mobile banking. The first is that what consumers most fear most should not concern them: security. Turns out that mobile banking is not...

News Makers.(Leading Off)
January 1, 2009... Got a Target On Your Back? When you Google yourself, it's ego surfing, but typing a bank's URL into Trusteer's malware search engine can give bankers a heads up about which new malicious code variants are targeting their customers. Desktop...

CYBERSECURITY: Getting the Ear of the New President; The Commission on Cybersecurity for the 44th Presidency spent 15 months formulating recommendations. But how much attention will it receive?(Plugged In)
January 1, 2009... Byline: Rebecca Sausner If you follow the logic of FBI Director Louis Freeh, a cyber attack against America is inevitable and will feel like another September 11. He compares the current lack of coherent strategy and national will to...

Techies.(Plugged In)
January 1, 2009... Former Lehman Bros. svp Chad Fulgham, who headed technology operations at the bankrupt brokerage, has landed at the FBI as CIO, replacing Zal Azmi. Donald A. Cyr was promoted to evp, head of security and fraud prevention at Citizens Bank...

Message Board.(Plugged In)(Brief article)
January 1, 2009... "That's an increase in sophistication that certainly leaves me awake at night." Kimberly Kiefer Peretti, senior counsel at the DoJ, on cybercriminals' new focus on PIN cashing versus using stolen cards to buy merchandise. "You either...