Bank Technology News articles from May 2006

Bank Technology News archives from May 2006

Identity Theft: ITAC's Next Move: Beyond The Banks?: It's moving toward universal consumer resolution.(Identity Theft Assistance Center)
May 1, 2006... She didn't get balloons and a light show, but "Mrs. W" still earned a prize as a landmark patron of the Identity Theft Assistance Center. She won her name back. Two housecleaners had pilfered her wallet and in less than two months had...

Loan Approval: Deciding To Dump Silos: New middleware allows bank-wide decisioning.
May 1, 2006... Web-enabled technology is not only allowing institutions to make credit-related decisions faster, but it's also allowing banks to implement and change credit rules and practices for a wide array of products from the same platform. The...

IP Networks: Small Firms Get VoIP For Less $: ACBB partnership with Cisco subsidizes platforms.(Atlantic Central Bankers Bank, Cisco Systems)
May 1, 2006... As a de novo community bank, Team Capital Bank is looking ahead to its future networking needs right out of the gate. The $40 million start-up launched last fall with a fully deployed VoIP network for its first branch in Flemington, NJ. The...

Edit Index.
May 1, 2006... AppOne 30 American Bankers Association 39 Bank of America 20 Barclays 12 BB&T 42 Business Objects 42 ...

Letters.(Letter to the editor)
May 1, 2006... To the editor: Please permit me to respond to a few things in "Patently Unaware" (April 2006). What is a patent troll? According to some, a patent troll is a firm who licenses patents they do not themselves commercialize. Yet many of the...

Corrections.(Correction notice)
May 1, 2006... In "Back Offices are Set for Core Revolution" (April 2006), the author incorrectly quoted Hilary Fiorella, vp of marketing for CheckFree Investment Services, on new GIPS retention standards for client records. The quote should have read: "The...

If Financial Crime is Rising, Then Security is Job #1.
May 1, 2006... When talking about security and the rising occurrence of financial crime, there are several factors to be considered, all of which are interconnected and imperative to resolve. These include understanding the changing nature of financial crime;...

Medical Banking: Paper Processing Is No Rx For Payments: Hospitals and insurers still don't have electronic remittance issues settled despite 10-year-old HIPAA standards. Seizing the market opportunity, banks are stepping into the void.
May 1, 2006... A recent survey of hospital and insurance executives show they each bemoan the complicated, inefficient and nearly unworkable electronic remittance processes they share. Ninety-one percent of hospital officials complain they must resubmit all...

News Makers.(GUS PLC and Experian Information Solutions Inc. to split)(Managers are unaware of ATM vulnerability)(Multifactor Malaise)(Brief article)
May 1, 2006... Experian, gus to split; Expect LSE Listing GUS PLC and Experian announced a de-merger of the financial information and credit reporting firm from its parent organization. The spin-off, expected to be completed in the next six to 12 months,...

Fraud: Catching Crooks, or Crimping Customers?: Are the United Kingdom's practices of imposing transfer limits and delays on Web banking transactions the answer to U.S. fraud issues? Not bloody likely.
May 1, 2006... To combat a rash of fraud losses from phishing scams, Barclays in England earlier this spring imposed a strict limit on external online account transfers of 1,000 pounds (about US$1,748) on their Web banking customers. Although the...

Trading Intelligence: Charles Schwab Goes Deep With New Nasdaq Data: It's the first to buy an enterprise license for TotalView, the exchange's top data product, providing traders a wide view of market activity.(Charles Schwab & Company Inc., The Nasdaq Stock Market Inc.)
May 1, 2006... Daytraders and other active investors crave information on stocks like dogs sniffing out a side of bacon, and Charles Schwab hopes to feed that hunger by signing a deal to provide its active traders access to the most comprehensive source of...

E-banking: Citi Direct(s) A Do-over For Internet-only Banking: Instant account opening, branch accessibility and personal financial management are all on tap for Citibank's counter to ING Direct.
May 1, 2006... Catherine Palmeiri describes differences so stark between Citibank Direct and Citi f/i, she belongs on an episode of "The Frontier House." The managing director of Citibank.com makes old-school Internet banking sound like life without...

Business Continuity: FIs Have More and Use More Contingency Plans: Recovery plans are big among financial firms. And well they should be: They also have a smaller window before a problem becomes catastrophic.(financial institutions )
May 1, 2006... When it comes to disaster planning, banks stand head and shoulders above the pack of other industries. But that's probably because they need those plans more to keep all industry going. A market survey from SteelEye Technology, a data and...

Techies.(Union bank of Switzerland AG appoints David Handler and David St. Jean )(BCS Group. appoints Janet Simpson and Paul Brock )(Hudson Financial Solutions appoints Steve Biskie )(Brief article)
May 1, 2006... David Handler and David St. Jean will join UBS' global technology investment banking division as managing directors. Michael Harper joined Syfact, a financial crimes and compliance software provider, as president. Jonathan Clarke joined as...

Message Board.(Brief article)
May 1, 2006... "We protect the dealer from himself." Lee Domingue, CEO of AppOne, on using technology to help independent auto dealers stay compliant with federal and state regulations. "It's about beginning to capture customers out of market." ...

Web Mortgage Applications: Applicants Taking Action After Taking Notes: In a survey of online mortgage trends, Internet applicants are trending-and spending-upwards. Large loans above $500,000 are becoming a favorite Web channel request.
May 1, 2006... For banks who consider the mortgage or refi application process too comprehensive and in-depth to feature in an on-line channel, too bad. The consumer is not waiting around. In a survey of 1,000 house hunters, Synergistics found that 15...

For B2B Card Payments, Size Doesn't Matter: IT integration and enhancements make the small biz credit/debit market a viable opportunity for issuers.(Steve Abrams)(Interview)
May 1, 2006... Asking banks to invest in a segment in which up to one-third of the clientele disappears within four years is a tough sell. But Steve Abrams, svp of MasterCard International's Corporate Payments Solutions, is preaching the pros of corporate...

Sales Marketing Automation: Here's A Concept: Burn The Brochure: Forget the print shop. LaSalle Bank uses an automated collateral tool to deliver about $3 million in cost-savings and enhanced cross-selling to its sales teams.
May 1, 2006... Money doesn't grow on trees, but it sure eats up a lot of paper. LaSalle Bank in Chicago found out how much in December, when marketing vp Jack Thurston tallied up how much the $70 billion-asset bank has saved since it quit printing...

Branch Banking: Umpqua's Strategy Gives New Feel To Neighborhood: Its new 'store' approach to local banking is wrapped in a rich customer experience.(Umpqua Holdings Corp.)
May 1, 2006... "Belly up to the bar" has been given a whole different meaning at Umpqua Bank. But such a diversion from traditional bank thinking-teller bars, coffee bars, and chocolate bars, for example-is nothing new for CEO Ray Davis, whose latest...

Auto Finance: Dealing With Independent Dealers Can Be Less Risky: AppOne's platform serves as a compliance backstop for banks wishing to do business with non-affiliated dealers.
May 1, 2006... For a long time, Crescent Bank & Trust was like a lot of its banking brethren when it came to independent auto dealers, staying far away for fear of winding up holding onto a financial lemon. But that's changing because of new technology...

VoIP: Banks Bring It On.(voice over internet protocol)
May 1, 2006... IP Telephony's Three Phases The IP telephony market is entering its third level of maturity. The first phase was one of experimentation of Voice over IP (VoIP) transport and proprietary communication signaling built on a Personal Computing...

Bankers' Report: 'We're Won Over by Voice Over IP'.(internet protocol)
May 1, 2006... When financial institutions first consider the move to Voice Over Internet Protocol (VoIP), it's often for a very bank-like bottom line reason: to save money. After undergoing due diligence, most decision-makers soon see the opportunities...

Transition Toward Intelligent Business Communications.(Brief article)
May 1, 2006... From To Hardware-based value Software- and services-based value Specialized communications software General purpose IT-based applications Communications specific programming...

High-net-worth Service: Basic Training For Wealth Advisors: Firms like SunTrust are pulling out all the stops to serve the rich, including mentors to help the advisory team deal with every aspect of wealth management, even family counseling.
May 1, 2006... For a telling measure of the breadth of skills banks are now requiring for wealth management staffers to better service more affluent investors, consider the following excerpts from a job posting from SunTrust's wealth management affiliate,...

Everything You Wanted To Know About Data*: *But Were Unable to Ask.
May 1, 2006... Innovations in business intelligence and middleware are bringing real-time, integrated, actionable information from hundreds of different sources straight to end-users. For banks, it means a world of new possibilities for security, loan...

Mortgage: Quicken Gets A New Lead On Locals: Its sponsor deal with HomePages allows consumers to access arial maps and neighborhood information and is a means to tap an $11 billion local ad market.
May 1, 2006... Online lender Quicken Loans signed up to become a "premier advertising sponsor" and content provider on HomePages.com, a service of real estate information company HouseValues, a deal that opens up a new world of information to consumers and an...

Core Banking: Webster's Marathon Becomes A Sprint: How the acquisitive bank did a multi-year, enterprisewide core systems upgrade in just over a year-more than two years less than the average time for such a project.(Zeynep Fredrick, Webster Bank)
May 1, 2006... Zeynep Fredrick had seen her bank undergo a major business transition, and, as evp and CIO, she knew the bank's moves would necessitate a massive core systems and channel overhaul. "Basically, Webster had always been a thrift, but it was...

Get with the Curve: Time to Secure Mobile Devices.
May 1, 2006... The nationally publicized theft of a Fidelity Investments laptop containing private information for nearly 200,000 HP employees is the latest in a litany of devastating incidents that underscore the risks of storing unprotected data on mobile...

To Mitigate Data Risk, Go To the Source.(management of the flow of information safely and securely in financial services)
May 1, 2006... Information is among the most valuable assets for financial firms. Managing the flow of information safely and securely is paramount. Yet when it comes to bad data management, even some of the best firms are in good company. Like a verbal...