Bank Technology News articles from June 2008

Bank Technology News archives from June 2008

Employee Fraud: SocGen Loss Lights a Fire Under Execs: 85 percent plan to change internal risk controls.
June 1, 2008... Yes, this is another story hung on the hook of Jerome Kerviel and Societe Generale; but the French banks $7 billion loss was a rude awakening for financial services firms around the globe, which are now scrambling to examine their own employee...

Call Centers: Doing More With Less: Why hosted call centers have FI executives rethinking outsourcing.
June 1, 2008... Even in times of economic difficulty two facts of business remain: customers still expect good service, and companies cant afford to lose them. Financial institutions may need to squeeze costs out of the enterprise as aggressively as possible,...

In The Spotlight: Ten Technology Companies to Watch 2008.
June 1, 2008... In the most challenging economic environment since 2001, technology is once again showing the power of innovation to solve problems and find new routes to revenue. For the seventh year, Bank Technology News has scoured the landscape for such...

Edit Index.
June 1, 2008... A Accenture 9 AdmitOne Security 13 Aite Group 15 American Express 14, 16 Andera 15 AT&T 9 B BancTec 13 BancVue 15 Bank of America 13, 14, 30 Barclaycard 16 BB&T 14 Best...

Going From Pain to Gain With Core Banking Swap Outs.
June 1, 2008... The industry has been talking about the need for institutions to replace core banking systems for years. In 2003, Celent forecast that the worlds 100 largest institutions would spend more than $14 billion on such projects within two years. Some...

Phishing: PayPal Wants To Wreck the Biz Model: Tactics by PayPal have greatly reduced the amount of phishmail targeted at eBay and PayPal users. The company has issued a paper outlining its success.
June 1, 2008... The saying goes, If somethings not working, try something else. And clearly, when it comes to the financial services and retail industries response to phishing, somethings not working. Unique phishing attacks reported to the Anti-Phishing...

News Makers.
June 1, 2008... THE LAWS OF PHYSICS MEET THE WEB The Internet is not like the universe, say AT&T officialsit is not infinite. The telecom behemoth predicts that without at least $55 billion worth of investment in just the U.S. and $130 billion worldwide,...

Compliance: "Red Flags" and The Five Stages of Grief: The industry's reaction to new bank regulations follows a very similar pattern. With so many new rules of late, that pattern has become well etched.
June 1, 2008... Everyones familiar with Elisabeth Kubler-Rosss five stages of grief; the financial industrys reaction to new regulatory requirements is just as predictable, though more amusing. Consider the November pronouncement by the Federal Trade...

Techies.
June 1, 2008... Zecco Holdings named Michael Raneri its new CIO. Raneri was previously svp of integrated client experiences at Charles Schwab. Secure Identity Systems hired Thomas J. Harkins as chief strategy officer. Harkins was formerly COO of Edentify....

Message Board.(Brief article)
June 1, 2008... They couldnt charge enough to keep the airplanes in the sky. -Bob Steen, CEO of Bridge Community Bank, on why the Fed accelerated its downsizing of check-processing centers in favor of check imaging. Trying to create another silo is...

Credit-Card Security: Making the Grade: Bank of America leads all credit-card issuers in a security survey that finds many issuers far from the top of their game. Will consumers take notice?
June 1, 2008... The good news is that credit-card issuers are pretty good at resolving fraud claims. The bad news, according to a report from Javelin Strategy & Research on the 25 top card issuers, is that preventing and detecting fraud leaves much to be...

Demand-Deposit Accounts: Checking out: Two startup sites are looking to help customers find the demand-deposit account best for them and then help them make the switch. Will this break down the DDA loyalty barrier and benefit the industry as a whole?(CheckingFinder and FindaBetterBank)
June 1, 2008... Will consumers shop for checking accounts the same way they do for credit cards? Two startup Web sites are banking on itbucking conventional wisdom that retail customers arent inclined to change checking accountsand have built easy-to-use...

Payments: Fractured World Of Contactless Cards: Banks, card issuers and merchants must coordinate to create the infrastructure for contactless card adoption. The potential is enormous, but the path forward is murky.
June 1, 2008... To grow its Zip contactless payment platform, Discover Network has in place the chip orders, the merchant acquirer programs, terminal hardware deals and, of course, the user base. Theres only one thing missing: the cards. Discover has...

Suddenly, SAP.(Company overview)
June 1, 2008... For a global company whose clients include 600 banks in 32 countries21 of the worlds 30 largest banks among them SAP doesnt get much respect in North American banking circles. Long considered too old world in its business practices and...

Silicon Sluggers.
June 1, 2008... Larry Ellisons acquisition tear over the last few years is well documented. The bitter, but ultimately successful takeover of PeopleSoft. The Siebel acquisition. And, last spring, Hyperion, at the time one of the five, large independent players...

Ten Tech Companies to Watch.(Company overview)
June 1, 2008... To stay ahead of the competition, regulators and thieves, banks must monitor a breathtaking sweep of technology. This stark reality is manifest in this years ranking of the 10 Technology Companies to Watch, which profiles firms involved in...

Transfer Services: Taking the Paper Out Of Account Transfers: More customers expect online account-to-account features, a trend that serves banks' interests well. Online funding boosts new account completion by a whopping 60 percent.
June 1, 2008... The Feds rate-cutting strategy to counteract the credit crisis has had consequences in Net banking. The alluring five-percent-plus rates that ING Direct, Citi, Capital One and others once offered for high-yield, online savings accounts (HYSAs)...

Imaging: As Fed Hurries Up, Banks Catch-Up: Increasing costs and diminishing options for traditional paper check processing have forced most banks to adopt imaging. The holdouts have a rude awakening in store as the Fed scales down paper operations faster than expected.
June 1, 2008... Bob Steen modernized his small Iowa bank to clear check images years ago, but Bridge Community Bank is still not pulp-free. Forty percent of our items have to be converted back to paper, says the chairman and CEO of the $55 million...

Effective AML Demands Centralization.(anti-money laundering)
June 1, 2008... You were just notified that your anti-money laundering/case management vendor has decided to sunset its application at the end of 2008. After cursing in your parents native tongue, you realize you can view the situation as a glass half full, or...

The Evolution To Thinking Security.
June 1, 2008... Traditional security has never been particularly good at dealing with shades of gray. For those charged with the protection of an asset whether monetary, intellectual, physical or digital it has always been simplest to see the world in...