Bank Technology News articles from November 2007

Bank Technology News archives from November 2007

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November 1, 2007... ACRAnet 20 Aite Group 14, 18, 50 Allegiance 24 American Express 11, 52 Baidu 52 Baker Hill 16 Bank of America 16, 50 Bank of New York 22 Bankrate.com 51 BATS Trading 18 BEA Systems 10...

Mobile Banking 2.0: Was There a First Wave?
November 1, 2007... The intense focus on mobile banking is creating a lot of excitement in the marketplace, and its prospects bode well for the future, though the prevailing notion that the industry is facing mobile banking 2.0 is a bit of an overstatement. At...

Credit Risk: Who's Going To Go Bankrupt?: Visa and Experian team up to predict consumer bankruptcy up to 24 months in advance.
November 1, 2007... One could say the business of bankruptcy is booming, with the bankruptcy reform bill of a couple years back, the current mortgage meltdown, and the periodic use of the word recession by economic pundits. Amid all of the talk about credit...

News Makers.
November 1, 2007... ORACLE VS. BEA, ACT 1: THE CALENDAR WARS Oracle and BEA Systems are off on the wrong foot in Oracle's unsolicited, $6.7 billion takeover bid. After BEA rejected the overture, Oracle CEO Charles Phillips and BEA vp Bill Klein exchanged...

Strategic Alliances: Wells Teams With Discover For Merchant Payments: The alliance will give Discover additional ammunition when battling its well-established rivals like Amex and Visa, and will give Wells Fargo's clients access to streamlined processing.
November 1, 2007... Discover faces a fierce battle for merchant payments business from the likes of American Express. Wells Fargo is hungry to expand its merchant payment acceptance options. That makes a strategic alliance between the two firms a no brainer,...

Online Bill Pay: Yodlee and Western Union Offer "Urgent Pay" Option for Online Billing: Tardy bill payers who face hefty credit card and mortgage late fees are a prime target for the new service.
November 1, 2007... Yodlee and Western Union have partnered to create a new bill-pay product that banks can offer to clients-a fee-based, same-day, online product to compete with biller-direct Web sites; these sites have long been favored by customers for their...

Small Biz/Small Bank: Losing Out In Their Own Back Yard: Research suggests community banks aren't so terrific at serving small businesses; shedding their Luddite ways might turn that around.
November 1, 2007... There's a long-held perception that community banks are well positioned to serve small businesses, partly because they're mostly small businesses themselves and partly due to better local ties than larger banks. But that perception doesn't...

Techies.
November 1, 2007... Mark Ripplinger was appointed president and COO at Everlink, a Canadian electronic payments firm. * Nirvana Financial, a software provider for hedge funds, appointed Tejpal Chadha as CTO and managing partner. * Fiserv CBS Worldwide, a division...

Message Board.
November 1, 2007... "The customer experience is not great." Joseph Polverara, svp, Yodlee, on Internet bill-pay platforms at most banks. "Internet-based commerce has twice the return on capital." Howard Weinberg, Deloitte principal, on e-commerce...

Alternative Trading: ECNs, Dark Pools Gain Ground on Exchanges: The trading venues running outside the traditional NYSE/NASDAQ exchange channels have their advantages-but also some limitations from their own success.
November 1, 2007... Over the past year, the average daily trade volume on the NYSE and NASDAQ exchanges has dropped five percent as traders spread their activity out through a staggeringly fragmented market of alternative ECNs and "dark pool" liquidity traders....

Sterling Moves Forward Through Tough Transition: The AT&T subsidiary follows through on its late CEO's long-running plans to reshape the business of streamlined B2B data integration for banks.
November 1, 2007... Bob Irwin President, CEO Sterling Commerce The New Year got off to a terrible start at Sterling Commerce last January when CEO Samuel Starr died suddenly. One of his best friends, Bob Irwin, moved up into the captain's chair to steward...

Mortgage: How to get "More" accurate with Loans: In a time when every basis point counts, the online pricing engine is entering into alliances with a number of credit agencies to better parse loan pricing.
November 1, 2007... The mortgage tumult has made lenders renew their focus on firmly understanding the true creditworthiness of their leads. One play in this effort is coming from SearchMyLoan.com, a Port Washington, N.Y.-based provider of loan search and...

Money Market Funds: Banks unveil latest in Web portals: Corporate treasurers see portals as a way to better manage their prodigious cash positions.
November 1, 2007... Internet portals offered by banks are on the verge of transforming the $1 trillion-plus institutional money-market marketplace by giving customers better access to their money and more flexibility in managing it. By offering more precise...

Feedback: Zions wants to plumb the depths of your discontent: With its new feedback product, the bank can analyze and respond to employee and customer beefs.
November 1, 2007... Satisfaction is at the heart of happy employees and customers alike, but gauging that happiness has always been tough. Zions now believes it's found a way to gather feedback and respond to complaints and suggestions. In do doing, it hopes...

The 6th Annual Innovators Ranking.
November 1, 2007... If there's an ethos that ties technologists together, it's the notion that the status quo poses far greater risk than not pushing forward. Among some of this year's Innovators there's an almost militant insistence that banks not shirk. ...

Online Authentication: Multifactor Race Nears Finish Line: The industry has reached near ubiquitous compliance for stronger authentication procedures in online banking. Now, it's on to mobile and IVR.
November 1, 2007... Everybody's finally in the pool. Nearly a year after half of all U.S. institutions missed the deadline to adopt stricter FFIEC guidelines for online authentication, analysts say that banks have finally, and almost universally, put their...

Lead Generators: Mortgage Engine Mimics Ticket Web Sites: Similar to Expedia and Priceline, Mortgage Marvel places rates side by side for comparison.(Website overview)
November 1, 2007... Mortgagebot hopes consumers will hunt for mortgages the same way they shop for airline tickets, by logging on to a Website, entering a desired destination, and then getting a list of products and prices to choose from. The firm, which...

Cards: Alt-Pays and Cards: Friends...and Foes: Research states online alternatives like PayPal, Bill Me Later and Google are a daunting challenge to the card firms - even when they are on the same page.
November 1, 2007... As a percentage of total U.S. online payments volume, non-card transaction options still comprise only 12 percent of the entire Web-based purchase market. But like Pearl Jam in its platinum-selling heyday, it's hard to label PayPal as...

Loan Origination: Making Gains in Times of Turmoil: Glenview State Bank and Washington Trust Bank hope Metavante products will streamline their mortgage lending and give them competitive boost.
November 1, 2007... With the mortgage market in a state of serious correction, many lenders are looking for ways to contain costs - and to grab marketshare as others flee the marketplace. Two banks that are doing just that are Glenview State Bank and Washington...

IP Telephony Plays a Key Role in Business Continuity.
November 1, 2007... Banks are on the front Lines when unexpected emergencies strike. Whether it's a hurricane, a fire, or a biomedical crisis, when an emergency happens, customers want access to cash reserves and bank products. However, in a crisis scenario,...

The New Enemy: A Trojan Worse Than Phishing.
November 1, 2007... Crimeware is used to steal valuable business data that can be monetized in the burgeoning cybercrime market. Since crimeware is financially focused, it should come as no surprise that these Web-based attacks often target customers of financial...