Bank Technology News articles from March 2008

Bank Technology News archives from March 2008

Product Development: Agile Dev: Programming Bit by Bit: Teams trade comprehensiveness for speed.
March 1, 2008... Within the product development labs of an institution like Key Bank, much of the work is half-baked. And thats the point. Banks and financial services companies like Key are deploying new products and services quicker, cheaper and generally...

Cash Management: Finding Middle Ground: In New Jersey, a retail power looks to catch up online with a small-business hook.
March 1, 2008... Commerce Bank made a name for itself in recent years by extending banking hours through Sundays and assaulting bureaucracy, but until recently its on-line services felt retrograde. The New Jersey firms now turned its attention to technology...

Payments: Is it Time for Tix by Cell?: Contactless phone payments trials roll amid uncertain demand.
March 1, 2008... If Dominic Venturo gets his wish, a future in which people routinely pay for cans of soda and movie tickets by brandishing a mobile phone will bloom this spring in Spokane. People are doing more things with their mobile devices, says...

Edit Index.
March 1, 2008... A Accountis 12 Aite Group 32 Autonomy 10 Aveska 14 B B-Plan Information Systems 13 Bank of America 10 BNP Paribas 16 BNY Mellon 18 C Capital One 34 Celent 12, 18 Ceres 10...

Everyone's For Going Green. But Does It Work?
March 1, 2008... Few would argue the merits of going green. But two questions loom large for financial institutions: Just how green is green, and where does your institution stand in its efforts? Certainly, the green movement is gaining traction in the...

e-Discovery: Defensive Posturing: Subprime Suits Aloft: Call them opportunists or ambulance chasers, electronic policy management firms are cashing in on the post-bubble litigation woes for banks.
March 1, 2008... Like the New England Patriots, many subprime-whacked financial players had a cruel fourth quarter. Citigroup reported a $9.8 billion loss; Merrill Lynch checked in at $9.91 billion in the red; and UBS was down $11.22 billion. But there...

News Makers.(Brief article)
March 1, 2008... FOR NOW, THE DEVIL YOU DONT KNOW IS BEST Looking for dependable non-prime customer yield? LexisNexis research shows lending to the underbanked may pose lesser risk than with thick-file credit customers with shaky bureau histories. Regular...

Data Storage: It Fell Off the Truck, Again. Now What?: It's been five years since data breach laws went into effect, and tapes are still going missing now and then. What's stopping the migration to more secure storage?
March 1, 2008... It was a rocky end to 2007 for data-storage leader Iron Mountain. The Boston-based company had two high-profile cases of tape loss to close out the year, including one that required GE Money to notify 650,000 potentially exposed customers. Five...

Top Tech Deals.
March 1, 2008... Number One PayPal says it will acquire Israeli security vendor Fraud Sciences in a $169 million cash transaction. San Jose, CA-based PayPal will use Fraud Sciences technology to beef up identity verification measures for both PayPal and...

Emerging Markets: Making the Most Of Mesopotamia: Bank communication cables are arriving in Iraq, with hopes of spawning e-banking in a land where banks are danger zones. But is it still too soon?
March 1, 2008... The government and private sector have a vision of a robust high-tech banking system in Iraq. But that will likely wind up being a very forward-looking view, considering Iraqi financial institutions currently offer threadbare services at best,...

Techies.(briefs)(Brief article)
March 1, 2008... Ex-BearingPoint CEO Harry L. You joins EMC as evp, reporting to chairman Joseph Tucci. You was also previously CFO at Oracle and Accenture * Fidelity National Information Systems spinoff of Lender Processing Services (LPS) includes the...

Message Board.
March 1, 2008... One throat to choke thats why the regulators want one person responsible for compliance. Thomas Noyes, GM of financial services, 41st Parameter, on regulators red-flag wish list. Thats one regret I do have the fact we didnt expand...

Access Governance: Too Much Access and Not Enough Governance: According to the results of a recent Ponemon Institute survey, the industry still does a terrible job enforcing barriers between employees and information.(Survey)(Brief article)
March 1, 2008... Societe Generales January announcement that it lost $7.2 billion due to insider fraud shows how critical access governance issues have become. Yet according to a Ponemon Institute survey released in February, there is confusion over who is...

The Mobile Future That's Already Here: Mobile finance carries with it a fair amount of hype, but in one form or another, it will happen. Does that place Gemalto, and firms like it, in the payments stream?
March 1, 2008... Gemalto is a small Dutch digital security firm thats just cut a big deal: cellphone maker LG is collaborating with it to built smart card Web server-compatible handsets. Two other big device makers are poised to follow suit. Do not confuse the...

Wealth Management: A Nerve center for the very, Very rich: BNY Mellon is expanding portal functionality for its high-net-worth clients in a bid to gain an edge over fierce rivals like Northern Trust and U.S. Trust. But any Web-based competitive advantage might be only temporary.
March 1, 2008... The most euphemistic among us would call the current wealth management environment challenging. That means everybody wants to know whats up with their money at all times, and they want to be ready to make changes on the fly. BNY Mellon...

Collections: If The Going Gets Tough, Automate: Defaults are a sensitive subject. Banks aim to make recovery as painless as possible for customers, without accumulating charge-offs. New Web tools improve the odds of seeing a potential long-term customer through a tough spot.
March 1, 2008... One result of the foundering mortgage marketplace is a turn to using more self-servicing productsor self-curing, as some like to call itto help the homeowner and the bank avoid foreclosure and potentially return the loan to good standing. ...

How Green Is Green?: The Green movement is gaining momentum in financial services, but executives are finding that it's far easier to cut off the financing of dirty industries like coal-fired power plants than it is to get their own houses in order. A progress report on what financial institutions are striving to achieve and where they're coming up short.
March 1, 2008... Lorie Wigle, the general manager of eco-technology at Intel, laughs when she is asked if there are enough computer industry executives with eco or green in their title these days to make up a whole new peer group. But going green is no...

ID Theft: Thwarted On-Line, Crime Looks to Past: In this data age, think tanks and federal agencies are increasingly finding a return to old-style phone-based fraud and reliance on "friends and family" for effective scamming.
March 1, 2008... The payoff from reducing identity theft crimes through electronic channels is not what weve expected. In a new identity theft report survey, Javelin Strategy & Research found a continuing overall decline in fraud numbers and victimsno doubt due...

Money Laundering: Bankers Taking On Goods-Based Fraud: A new anti-money laundering tool incorporated by SAS charts irregularities on clients' import/export invoices and improves the overall compliance infrastructure.
March 1, 2008... Asking banks to track potential anti-money laundering activity through traded goods is easier mandated than done. Since 2005, the FFIEC exam manual has required institutions to have a policy or process to monitor letter-of-credit or...

Put Usability Testing to the Ultimate Test.
March 1, 2008... Many financial institutions spend considerable time, resources and money on usability testing for their Web siteand with good reason. Usability testing is a critical qualitative step for identifying how to make banking Web sites more...