Bank Technology News articles from June 2006

Bank Technology News archives from June 2006

The Price Of Authentication: Get Ready For Id Security Cost Inflation: PassMark sale means bargain pricing is over.(PassMark Software acquired by RSA Security Inc.)
June 1, 2006... The good news for banks about RSA's acquisition of PassMark in April is that it's another sign that the market for two-factor authentication is maturing, and that an increasing number of vendors will have complete, even cross-channel, solutions...

Web Design: Schwab Peeks Into A Prospect's Mind: Its redesign aims for quick customer capture.(Charles Schwab & Company Inc.)
June 1, 2006... Charles Schwab wants its blind Web dates with customers to turn into lasting relationships-and considering it gets only five one-hundredths of a second to make a sticky impression when the initial meeting with a prospective client takes place,...

Healthcare: An Rx to Gain Share: UMB's partnership could lure HSA business.(UMB Bank N.A. and ConnectYourCare)(health services administration)
June 1, 2006... The market for consumer-directed healthcare figures to be fierce in the coming years, since it combines the elements that often spell all-out war among financial firms-namely a high potential, mostly untapped market that's suffering from a...

Edit Index.
June 1, 2006... A,B Aite Group 14 Alterpoint 37 Allianz Life 37 Assurant 22 BAI 10 Bank of America 18...

If It's Loyalty You Seek, Forget Fees For Credit Monitoring.(SunTrust Banks Inc. providing Equifax Credit Watch Silver service through Equifax Inc.)
June 1, 2006... The news that SunTrust Banks would provide preferred-checking customers with an identity-theft protection and credit-monitoring program from Equifax came as a breath of fresh air-sort of. SunTrust was called to action based on the findings...

Market Intelligence: Turning Info Into Action: Research firms like TowerGroup and Celent are building on their research through sales education and contributing to indexes.
June 1, 2006... Clay Cocalis says the typical sales pitch for a technology exec looks a lot different today than just a couple of years ago. For one thing, the person on the other side of the table probably has a much better office-and a keener understanding...

News Makers.(Citibank N.A. is using Vasco Corp.'s Digipass two-factor authentication technology)(MyPublicInfo introduced IdentitySweep service)(Bank of America Corp. negotiating with Visa International)
June 1, 2006... Bofa leaving visa? Lewis slips a hint. Bank of America CEO Ken Lewis let slide in an interview with The Wall Street Journal that BofA is considering launching its own card network. Its motivation? Financial Insights' Aaron McPherson...

Check Conversion: Check And Ach Processing: Besting Both Worlds: NACHA's new back-office processing rule will push the conversion down the line-and expand least-cost routing advantages.(National Automated Clearing House Association)
June 1, 2006... Choosing the best way to process a check as a customer hands it over is like laying out your wardrobe weeks in advance. The weatherman can't tell you if it'll rain next month, and a merchant can't judge the most cost-effective route for a...

Advanced ATMs: Diebold Brings Captive Marketing To The Cash Machine: Forget sending letters. Forget that email blast. Personalizing messages at the ATM may be the most effective way to cross-sell.(Diebold Inc.'s ATM software )(automated teller machine)
June 1, 2006... Diebold's new ATM software wants to make direct mail and email promotions obsolete. Instead of wooing clients with new products via methods that can be ignored-letters tossed without being opened and email killed without reading-banks can now...

Techies.(CIT Group Inc. appointed Michael Baresich)(New Century Financial Corp. appointed Colleen Wolf)(Getronics N.V. appointed Gary Cawthorne)(Brief article)
June 1, 2006... * Michael Baresich was appointed evp and CIO of $65 billion CIT Group * New Century Financial Corp. named Colleen Wolf svp and CIO. * Mark Lamarre was named managing director and head of Wachovia Securities' Technology and Services Group,...

Message Board.
June 1, 2006... "I don't think there's a silver bullet." - Brian McGinley, director of Wachovia's Loss Management Division, on the outlook for an enterprise fraud solution. "They are asking salespeople to be a jack-of-all trades." - Clay Cocalis,...

Universal Access: Consumers Say They're OK with Master IDs: Unisys says banks are the most trusted to issue and manage cards that allow for universal access to transportation, the Web and public places.
June 1, 2006... Discussion of next generation ID verification often conjures up images of reticent consumers spooked by the intrusiveness of eye scans, national identity cards or even the notion of "being on the grid" and permanently giving away personal...

Performance Management: Judgment Calls: Banks Up Enterprise Appraisals: Institutions are after metrics that provide a broader view of true operational performance that the more traditional bottom line doesn't always show.(Financial Insights study)
June 1, 2006... How are they doing? Banks want to know more than ever. With business and regulatory pressure on margins, capital requirements, risk mitigation and customer attraction/retention, financial services executives are looking behind teller windows...

A Competitor's Gain is Also Bank of Internet's: The branchless $600 million-asset bank says any acceptance of the Web helps his institution's cause.(Gary Lewis Evans of Bank of Internet USA)(Interview)
June 1, 2006... Gary Lewis Evans is running a race where if other runners pick up speed, it's good for him. The president and CEO of Bank of Internet says when banks succeed in luring customers to the Web, it helps his cause, since consumers are more inclined...

Contactless Payments: Visa Wins Faceoff For E-wallets: The firm hopes a pilot program at hockey and basketball games in Atlanta will seed the further development of e-wallet initiatives. It's a market Celent pegs at $24 billion.
June 1, 2006... With its mobile phone payments pilot rating high on the "coolness" factor with Atlanta sports fans, Visa USA is ready to take an even deeper look at bringing the payment model further along. Following a six-month trial in which 150...

Small Business: Entrepreneurs Are Stepping Into The Banks' Spotlight: Institutions like Commerce and National Bank of Canada are centralizing applications to tap a fast-growing segment.
June 1, 2006... It's springtime, but many of Denis Faubert's customers are going south. And by making the trip easier, he hopes to forge lasting relationships that will pay off big in both the short and long term. "Everybody wants to go south of the...

Event-based Marketing: Selling Gets Trigger Happy: New software is improving the opportunity for event-driven sales, and Barclays, BofA, and National Australia Bank are among the financial institutions taking notice.
June 1, 2006... In the earlier years of CRM, a huge deposit, withdrawal or transfer was a possible signal that a customer was preparing to make a larger financial move, prompting a bank to contact that customer for cross selling. And while these "event...

Direct Marketing: Bank Statements, With A Side Of Marketing: Wachovia, Chase and Wells are embedding personalized ads into customer statements online and in print.
June 1, 2006... JPMorgan Chase, Wachovia, Wells Fargo and other financial institutions are giving customers a little extra something along with their monthly statements and other financial documents-personalized advertisements and promotions tailored just for...

The Demographics Of ID Fraud: Not every group is victimized, or protected, in the same way or at the same level. Javelin examines how incidents and precautions differ based on age, income and ethnicity.(2006 Identity Fraud Survey Report)
June 1, 2006... Fraud doesn't look the same across all ethnicities, ages or incomes. And when broken down, the numbers reveal a stark contrast. For example, Hispanics and African-Americans aged 25-54 have a 56 percent higher chance of becoming victims of...

Podcasts: Getting an Audience As Easy as 1-2-MP3: The sudden popularity of finance-oriented podcasts on iTunes produces a new breed of do-it-yourself stock and investment punditry.
June 1, 2006... In suburban Atlanta, Brian Preston is a school board member and a recognized up-and-coming CPA in his local business community. He is also a rock star. Not in the guitar god variety, but as "Money-Guy," the friendly, affable host of a...

Network Management: Managing Radical Network Changes: Overwhelmed by current business and regulatory complexities, banks are relying on automated configuration solutions to handle hundreds or thousands of network devices.
June 1, 2006... It's been six years since Cabletron Systems left the network switching/router business to the Ciscos of the world. Another dot.com-era telecom equipment maker, Bay Networks, became part of the Nortel family during the Clinton Administration....

The Simple Facts on Hard Compliance.(records management by financial services )
June 1, 2006... New regulatory requirements along with high-profile court cases and jail sentences have made records management a top concern for many financial services companies-with good reason. Few people have a clear understanding of what they need to...

Plenty of Debate for All At This Year's CIO Summit.(organized by U.S. Banker and Bank Technology News)(Brief article)
June 1, 2006... While the specifics of the roundtable are confidential, suffice it to say there was no shortage of debate among those in attendance at the second-annual CIO Summit, a thought-leadership program hosted by U.S. Banker and Bank Technology News....