Bank Technology News articles from June 2009

Bank Technology News archives from June 2009

CALL CENTER: Phone Fraud Advances Biometrics; The call center is the weakest link in multi-channel fraud; voice biometrics emerge as a viable solution.(Direct Access)
June 1, 2009... Byline: Rebecca Sausner Fighting external fraud has become like whack-a-mole; with the online channel increasingly secure, organized crime has taken to exploiting the weaknesses in the call center as they evolve their multi-channel...

Message Board.(Plugged In)
June 1, 2009... "They've never delivered a mobile payment in their lives," Serge Van Dam, head of marketing, M-Com, on a competitor's product line. "Millionaires are managing more of their money," David Kaufman, CEO, Voyant, on the growing demand...

ENERGY: Tapping the Desert Sun; Phoenix, a desert city, wants to be the greenest in the nation, and National Bank of Arizona is helping the cause with a $1.5 million solar installation.(Going Green)
June 1, 2009... Byline: Michael Sisk With about 325 sunny days per year and an average high temperature of 85 degrees, it's hard to beat rapidly growing, resource-strapped Phoenix, AZ, as an ideal site for solar power. With this in mind, Mayor Phil Gordon...

Old Bottles Can Become New Cards.(Green Initiatives)
June 1, 2009... If playground equipment and snuggly hats can be made from recycled polyethylene terephthalate (PET) soda bottles, why not credit credit cards? At the recent Cards 2009 event in Sao Paulo, Brazil, IntelCav rolled out EchoCard, a new series of...

AUTOMATION: Remote Cash Capture Catches On; Reengineering the cash cycle is costly, but can bring long-term savings for institutions.(By the Numbers)
June 1, 2009... Byline: Rebecca Sausner The case for remote cash capture can hardly be heard above the din, with related technologies like remote deposit capture, and the ever-rising tide of electronic payments, getting much of the attention and...

Rebuilding Trust in Mortgage Lenders; Bad loans begat the crisis, but lack of trust about credit risk practices has prolonged it. Recovery depends in part on investors believing the numbers again.(Interview)
June 1, 2009... Byline: John Adams The bad times that remain in the consumer lending market are partly born of a sense of betrayal - secondary market investors simply no longer trust lenders. Dain Ehring, CEO of enterprise lending tech firm Dorado,...

MORTGAGE: Outsourcing risk: Possible, but Wise? As refi volume and risk management pressures increase, lenders are turning to outsourcing for staff flexibility. But the strategy isn't without some risk of its own.(Business Innovation)
June 1, 2009... Byline: John Adams One of the ironies of the mortgage industry's time in the wilderness is there is some expansion. The problem is that the growth poses a quandary for lenders: In the case of refinancings, the spike is tenuous and...

CUSTOMER SATISFACTION: Find and Nurture Your Biggest Fans; Banks are turning to enterprise feedback technology and new "customer listening" abilities to identify and grow relationships with their most enthusiastic customers.(Customer Tactics)
June 1, 2009... Byline: Michael Sisk Customer satisfaction is a valuable measure for any business, yet it is also a rather blunt yardstick. That's because "satisfaction" is a broad term that can include someone virtually indifferent to the bank but not...

WEALTH MANAGEMENT: Madoff Backlash Increases Need For Self-Service Tools; High net worth is a relative terms these days, making once wealthy more mistrusting of advisors. But Web-enabled self service offers a sense of control that can help close deals.(Direct Access)
June 1, 2009... Byline: John Adams Bernie Madoff's journey to jail has had a lot of fallout, including effects on wealth managers who now have a new dynamic on their hands: scared clients with shrinking assets who've also lost faith in the wealth...

DATA MANAGEMENT: Are We There Yet? RBC Unifies Data; Using data to yield a single customer view has always been more talk than action for banks. RBC and Teradata say a new project, and architecture, are delivering that unification.(Shifting Gears)
June 1, 2009... Byline: John Adams RBC's massive data management project is nothing if not ambitious, a multi-year effort that's reimagining the accrual and deployment of numerical and demographic intelligence across the entire business. If the...

Tech's Not the Primary Problem; Software doesn't make bad loans, bankers make bad loans; IT just speeds process.(Perspective)
June 1, 2009... Byline: Tom Johnson Factors contributing to the downfall of the financial industry have been discussed ad nauseam and I suspect will continue to be debated well into the future. While I agree, identifying the root cause is necessary to...

CHANNEL MIGRATION: Grow Without Getting Big; Community banks outsource e-account opening for low-cost deposits.(Customer Tactics)
June 1, 2009... Byline: John Adams Online account opening's not exactly on the IT frontier , but its potential as a low- cost engine for deposit growth provides a new option for the future of community and regional banks. "It's...almost a standalone...

Virtualization Compliance Can Be Tough.(Perspective)
June 1, 2009... Byline: David M. Lynch Most organizations in the banking industry have already discovered the potential that server virtualization offers to reduce costs while enabling greater agility and IT responsiveness. Organizations that have...

10 Technology Companies To Watch.(Cover Story)
June 1, 2009... Byline: John Adams, Steve Bills, Rebecca Sausner, Michael Sisk and Daniel Wolfe Everything has changed - as we've heard infinitely of late - and BTN's 10 Tech Companies to Watch keeps pace with the times. In years past, the ranking called...

1. FIS/Metavante; Bill Foley, Chairman, Fidelity National.(Cover Story/10 Technology Companies To Watch)
June 1, 2009... Byline: Steve Bills For Jack Henry and Fiserv, it was the rudest kind of alarm for an April morning. Archrival Fidelity National Information Services agreed to buy Metavante, turning the already cutthroat bank IT vendor game into a battle...

2. Silver Tail Systems.(Cover Story/10 Technology Companies To Watch)
June 1, 2009... Byline: Rebecca Sausner As founders of a Web security software company go, these two definitely have some street cred. Laura Mather and Mike Eynon were senior fraud prevention specialists at eBay and PayPal, two of the most targeted brands...

3. Sybase365.(Cover Story/10 Technology Companies To Watch)
June 1, 2009... Byline: Rebecca Sausner Hearing about all the cool advanced mobile payments applications in production around the world - particularly in developing countries - is enough to make an American mobile banking executive feel a little...

4. MasterCard.(Cover Story/10 Technology Companies To Watch)
June 1, 2009... Byline: Michael Sisk MasterCard acquired Dublin-based software company Orbiscom in January for $100 million, hoping to empower card holders with a new generation of tools that include budgetary features and security controls. If the deal...

5. M-Com.(10 Technology Companies To Watch)(Cover story)(Company overview)
June 1, 2009... Byline: Rebecca Sausner The last year has been an interesting one in the mobile banking world, as players that used to lead the pack appeared to struggle and newcomers booked deals that gave them major leverage in the U.S. market. Enter...

6. Verari Systems.(Cover Story/10 Technology Companies To Watch)
June 1, 2009... Byline: Rebecca Sausner Where banks park their data these days is at the heart of countless technology initiatives - whether it's in the cloud, in a newly-virtualized server environment, or, in the case of Verari Systems' customers, in the...

7. Encomia.(Cover Story/10 Technology Companies To Watch)
June 1, 2009... Byline: John Adams Everyone's got an opinion on what caused the mortgage meltdown, but Andy Dubinsky's is one of the rare public criticisms of the market embedded with a forward-looking solution. "You look at the loans and realize how...

8. Oracle.(Cover Story/10 Technology Companies To Watch)
June 1, 2009... Byline: John Adams JAVA's an icon in the enterprise IT world - Sun Microsystems went as far as to make "JAVA" its NASDAQ ticker symbol. Not to mention the nearly $7.5 billion Oracle wants to shell out in part to gain control over Sun's...

SECURITY: Breach Sharing Gets Off the Ground; Heartland's call for the industry to work together finds willing participants.(Leading Off)
June 1, 2009... Byline: Rebecca Sausner After Heartland Payment Systems suffered its massive breach in January, CEO Robert O. Carr issued a call to action, suggesting payments players implement end-to-end encryption and share breach forensics among...

9. SAS.(10 Technology Companies To Watch)(Cover story)(Company overview)
June 1, 2009... Byline: John Adams Credit and fraud aren't buzzwords, but they can be buzz saws. Unless banks can demonstrate publicly verifiable risk management, successful fraud prevention and credible governance, all of the tech firms on this year's...

10. Secerno.(10 Technology Companies To Watch)(Cover story)(Company overview)
June 1, 2009... Byline: Daniel Wolfe One Third of Bank CIOs say they're "very concerned" about insider threats, according to a recent vendor survey, perhaps not surprising given the massive layoffs and general job insecurity plaguing financial services....

Get Ready for a "Super-Regulator's" IT Mandates.(Firing Line)(information technology)(Editorial)
June 1, 2009... Byline: Rebecca Sausner, Editor-in-Chief We forever talk about the value of the enterprise view - of fraud, risk, or customers - and the necessary outlays for enabling technology. But what about federal regulators; is Uncle Sam due for some...

MOBILE: New Bling for Alternative Payments; Integrated Bank Technology's offering Bling Nation's contactless mobile handset stickers as part of a push for potentially lucrative closed loop local networks.(Leading Off)
June 1, 2009... Byline: Steve Bills, deputy technology editor, American Banker Meyer Malka promises a new era in which institutions have ample opportunity to leverage alternative payments technology for differentiation, relationship enhancement with...

NEWS MAKERS.(Leading Off)(Brief article)
June 1, 2009... Who's the New Guy? At an FTSE-listed financial firm, a man recently entered an office without being challenged, based himself in a third floor meeting room, and worked there for several days - gaining access to data room, employee...

FINANCIAL MANAGEMENT: Metavante's Affinity for FinanceWorks; A sharing agreement will give Intuit's software potential access to tons of new bank clients along the vendor M&A trail.(Leading Off)
June 1, 2009... Byline: Daniel Wolfe, American Banker The recession's hastened vendor consolidation and awakened entire generations of worried consumers who want real-time automated info on their finances. Don't blame Intuit if that confluence has the...

PHISHING: BofA's Customers Get Schooled in Phishing; America's biggest bank - and we're not talking TARP terms here - is teaching anti-phishing lessons by catching customers at the edge of the abyss. It wants your bank to join in.(Plugged In)
June 1, 2009... Byline: Rebecca Sausner Ah, the teachable moment. For parents, teachable moments often come when kids are in tears, fresh off a major disappointment or minor injury and not really expecting to learn anything at all. Banking has its own...

TECHIES.(Plugged In)
June 1, 2009... Jennifer Schulz has been appointed CEO of Verifi, a provider of risk management technology, succeeding Matthew Katz, who will remain with the firm as chairman. Online payment systems provider ClickandBuy has named Christoph Kurpinski CTO,...