Bank Technology News articles from July 2008

Bank Technology News archives from July 2008

Mobile banking: How Will Payments Ride Rails?: Mobile platform choices seem daunting. Just wait until things really get rolling.
July 1, 2008... Most of the recent discussion around mobile payments has been how, or if, carriers and banks will hammer out a shared revenue model. But when mobile payments become an everyday reality for banksand few forecast otherwise experts say there will...

Loyalty Programs: Retailers Picking up Tab to Share in Rewards: Banks such as Chase are meeting customer demands for loyalty programs by offering a wide merchant selection for earning and redeeming points. It helps when merchants foot part of the cost.
July 1, 2008... In a survey last year, Forrester Research found the iPhone effect encroaching into loyalty cards. Just as users of Apples popular all-in-one smartphone could quit carrying around iPods and laptops, North American cardholders began to express...

Credit Decisioning: Top Tools for Tough Times: Today's risks prompt smaller banks to seek cutting-edge solutions.
July 1, 2008... At first glance, a $5.2 billion-asset bank in Montana wouldnt seem to have much in common with Charlotte, NC-based behemoth Wachovia. But when it comes to credit decisioning, First Interstate Bank is playing on the same field. First...

Edit Index.
July 1, 2008... A 3Tera 26 ABI Research 11 Accenture 22 ACI Worldwide 12, 19 Aite Group 11, 21 Alston + Bird 22 Amazon 11 American Bankers Association 22 American Express 22, 31 Apple 30 AT&T 22...

Innovators 2008: Big Thinking Backed By Performance.
July 1, 2008... If theres a common philosophy that CIOs, technologists and futurists share, its the belief that the status quo poses far greater risk than not pushing forward, particularly at times of great strife in the financial industry. That sentiment...

Managed Services: MPLS Frees Banks To Hand-Off The Network: Banks know they can manage it themselves, but don't want to, so they call in MSSPs.
July 1, 2008... In two years, the frame relay data network may be as extinct as no-doc mortgages. By 2010, Forrester Research says most large banks, insurers and brokerages will have transitioned to multi-protocol label switching (MPLS), a data/voice...

News Makers.
July 1, 2008... BREAKING INTO P2P PAYMENTS Peer-to-peer payments have gained lots of traction overseas, but not here as much. MasterCard is looking to forge ahead in its home market, teaming with Obopay to pilot an on-demand payments service, which will...

Mobile adoption: Trust Tipping Point Remains Distant: A survey from Unisys indicates customers will play hard-to-get on mobile transactions take-up, even in mobile-friendly Europe and Asia. But online banking took awhile to warm up, too.
July 1, 2008... Banking by mobile phone is where many institutions are sinking research and development funding these days, but judging by how consumer attitudes are shaping up, itll take the same hard slog as it did for ATMs and Internet transactions for the...

Top Tech Deals.
July 1, 2008... Number One HSBC is forming a joint venture with U.S. transaction processor Global Payments to handle its card merchant acquiring business in the UK. Global Payments will pay HSBC $439 million to acquire a 51 percent majority stake in the...

Financial Fraud: Catch Them If You Can (Or Not): In an ironic twist, Frank Abagnale and his jailhouse ilk are the entertainment at AML conferences. But are these former bad guys aiding banks in fighting crime?(Conference news)
July 1, 2008... If you havent heard Frank Abagnale tell the story of his life on the lam, you probably havent ventured to a financial fraud or anti-money laundering conference in recent years, or seen Steven Spielbergs version of Abagnales life in Catch Me If...

Techies.
July 1, 2008... * Marc Gordon was named the incoming CTO at Bank of America. He will replace Barbara Desoer when she assumes the leadership of the combined consumer real estate operations of BofA and Countrywide Financial * Fiserv named Paul Thomas...

Message Board.(Brief article)
July 1, 2008... If I were to betand I have to betwe are keenly interested. -Bruce Parker, ACI Worldwides vp of strategic planning, on the companys plans to look into payment uses exclusive to the mobile channel. Theres nothing like the National...

Customer Acquisition: Generation N(Y)xt: Gen Y's 75 million members are banking's next great opportunity, but if this up-and-coming generation's attitude toward online banking is any indication, many surprises await.
July 1, 2008... Everyone knows Baby Boomers are a valuable target; the generations 80 million members comprise the largest population demographic in America. But Generation Y, those born between 1982 and 1995, is a close second, and by 2015 annual spending by...

Could the U.S. Be the Next Estonia?: The attack that hobbled Estonia's Internet has created an urgency to acknowledge the Net as critical infrastructure.
July 1, 2008... Gadi Evron, former Israeli Government Internet Security Operations Manager (a.k.a., CISO) and founder of the Israeli Government CERT, went to Estonia during the crippling DDOS attacks last May as a volunteer. He talks to BTN about whether the...

Small Business: Call It a 'Green' FICO: Conducting an environmental risk assessment was mandatory even before "An Inconvenient Truth." But a new automated scoring tool simplifies the task for banks looking to save time and money, and manage risk, on commercial loans.
July 1, 2008... The FICO score, and the predictive analytics behind it, revolutionized credit decisioning not long after it was unveiled by Fair Isaac in 1989. In the same vein, Diane Baum hopes that her automated environmental assessment, dubbed Enviroscore,...

ATMs: Can Next Generation ATMs Lure Deposits?: Banks are spending big money on image-scanning ATMs. But experts agree building confidence in the expensive technology will take time and a concerted education campaign.
July 1, 2008... For banks investing in expensive image-scanning ATMs to encourage deposits, a big question is whether fraud at existing ATMs will curtail adoption. In 2007, 19 percent of debit card fraud occurred at the ATM, accounting for 25 percent of lost...

Intellectual Property on Trial.
July 1, 2008... Sick and tired of patent troll lawsuits against banks, the Financial Services Roundtable and several institutional members such as Bank of America are urging a federal court to overturn the patentability of certain business method processes....

IP Practices Core to Patent Strategy.
July 1, 2008... John Cronin, managing director of ipCapital Group, but best known as the founder of IBMs Patent Factory, says banks themselves are to blame for their patent predicament. How are banks managing their intellectual property? I think very...

One-Two Punch: Nearly 10 years ago ASPs were the next big thing, promising relief to IT departments that never really materialized. Today, the one-two punch of SaaS and SOA may finally deliver the IT hit institutions need.
July 1, 2008... At the turn of the millennium, IT industry pundits made one hugely wrong prediction, and one medium-sized goof. The hugely wrong prediction, of course, was the Y2K doomsday scenario that prompted near hysteria. The medium-sized goof the...

Education: English Goes Global Via Online Training: For banks with global operations or aspirations-whether in acquisitions or outsourced development-disseminating business English across the enterprise has become critical.
July 1, 2008... It is not new that English is the global language for business. What is new, however, is the pace of globalization, which is making cross-border commerce, acquisitions, and exchange of best practices more common, and the need for English...

Imaging: Imaging Technology Branches Out: Wachovia and Software Earnings teamed up to create OnTrac for Wachovia in the wake of Check 21, and are now pitching it to other banks as a way to track e-docs of all types.
July 1, 2008... The ability to convert paper checks to electronic images for processing, transmission and presentment since the Check 21 Act went into effect in 2004 has created opportunities and headaches for banks large and small. For big banks, with...

Automating Management of the Branch Office Network.
July 1, 2008... For the financial services industry, maintaining always-available access, control and security of the distributed network is of the utmost importance. For IT, just monitoring the myriad distributed devices and systems spanning branch offices...

B2B Payments Face Major Transformation.
July 1, 2008... Across the globe, market forces such as innovation, the need for efficient cash flow management models, cross-border trade and new industry standards are shaping the future of the B2B payments industry. Worldwide, companies and financial...