Bank Technology News articles from October 2007

Bank Technology News archives from October 2007

Compliance: Anti-Money Laundering Regs Remain: More audits, trade finance diligence ahead.
October 1, 2007... Banks hoping for some deregulatory AML/BSA relief apparently found few traces of U.S. Treasury Secretary Hank Paulson's magic dust in the updated FFIEC examination manual. After the issuance of the third edition of the examiners' how-to...

Authentication: Can You Protect Me Now?: Calling audibles on mobile multi-factor ID.
October 1, 2007... With SSL encryption and anti-phishing toolbar capabilities, PC browsers are designed with security top-of-mind. Mobile phone browsers, in contrast, are about "making sure you can download a ring tone or you can buy a wallpaper," says Eric...

ATM Fraud: Tools Make Use of Six (Or More) Degrees: ACI, citizens help stop CA skimming gang.
October 1, 2007... A federal judge came down hard on a pair of Californians earlier in September after their guilty pleas for participating in an ATM-terminal skimming spree in at least six Rhode Island and Massachusetts supermarkets earlier this year. Arman...

Edit Index.
October 1, 2007... A ACI Worldwide 39 Actimize 33 Aite Group 15, 28, 33 American Bankers Assn 13, 20 AMEX 14 Anti-Phishing Working Group 16 AppOne 14 B BancorpSouth 28, 33 Bank of America 28, 32 Boston...

FutureNow List: The Best of Security in 2008.
October 1, 2007... Media companies, like all businesses, are constantly looking for ways to serve readers better-with more in-depth content, more efficient delivery and with an eye toward the future. BTN, published by SourceMedia, is preparing to retool its...

Credit Collections: Fair Isaac, Online Resources Are at the Door: The Web banking firm is teaming up with Fair Isaac to expand Web-based delinquency collection tools.
October 1, 2007... The credit clock is ticking along toward full-blown crisis, if it isn't already there. The table is set for technology firms looking to win business from creditors who are hungry for new debt collection and management solutions. One of the...

News Makers.
October 1, 2007... INTELLIGENCE DESIGNS, B.O. GOING ON SALE? Every since Oracle acquired Hyperion for $3.3 billion, business intelligence market analysts have been wondering when Paris-based Business Objects would land a suitor. Now, a French news report...

Privacy: Banks Balk at SS Number Privacy Bill: An anti-fraud bill would limit using these numbers, but some bank groups are opposed.
October 1, 2007... Two major federal efforts to curb the widespread use of Social Security numbers are putting banks-the largest private-sector users of those nine sensitive figures-on defense. Social Security numbers are the crucial piece of data used to...

Top Tech Deals.
October 1, 2007... Number One Microsoft bought Parlano, which sells enterprise group chat for IM, conferencing and VoIP to banks such as UBS and ABN Amro. Microsoft will incorporate Parlano's MindAlign platform into its own Office Communications products....

Payments: En Garde! The Clash of Banks, PayPal: The payments firm is expanding its offerings, putting the competitive heat on banks.
October 1, 2007... Look out, banks: PayPal and its non-bank siblings in payments are gaining. The San Jose, CA-based firm is expanding further into the consumer-payments space and offering more bank-like services. And even though the firm says it's a...

Phishing: McPhishers: Criminals Evolve Wholesaling Models: As attacks reach record levels, RSA Security's Anti-Fraud Command Center details how phishing crimes are feeding the growth of worldwide criminal enterprise supply chains.
October 1, 2007... Even as banks settle into two-factor authentication and their fraud- fighting tools gain some moxy, phishers across the globe are still having phun, phun, phun. In a recently published assessment of the phishing threats tracked by its...

Techies.(Brief article)
October 1, 2007... At Metavante, Dave Fortney was named the new CTO. He will report to Gary Refinski. * Boston Financial Data Services appointed Jude Metcalfe as svp and head of retirement services. * Mobile technology provider mFoundry hired Rob Sabella as the...

Message Board.
October 1, 2007... "The collector wants to be there for you." Online Resources' Bob Craig, evp, on e-collection as a CRM tool. "There's nothing to make sure cashiers don't flirt with some guy putting a skimmer on your card reader." Gartner's Avivah...

Channel Surfing: The Branch as the Eternal Channel: As Generation Y matures, new surveys reveal they're almost as predisposed as older generations to banking at physical locations like branches.
October 1, 2007... Don't throw those bricks and mortar away just yet. While it's true that young consumers are decidedly more tech-friendly than older generations, a large number still want branches-or at least a mix of channels. New research from the...

Staying Secure Outside A Bank's 'Green Zone': How do you protect data when business opportunity is beyond the firewall? Enter "De-perimeterization.".
October 1, 2007... With headquarters in London and interests sprawled across Asia, the Middle East and the African continent, Standard Chartered is at once a very modern and very traditional Anglo commercial enterprise. It is a radically decentralized and...

Money Management: A New Sense Of Control For Seniors: Elder-focused bill pay offers payment and money management services for older consumers, who often aren't in a position to manage their daily finances for themselves.
October 1, 2007... It's the kind of scenario that nobody wants to think about-the failing health of a family member. And when the issue does surface, mundane financial matters are the last thing on a families' mind. For Harvest Capital, a $10 million-asset...

Mortgage: Running Up The Credit Score: Carteret Mortgage is using new software as part of an effort to help borrowers find ways to improve their scores. It's one of the few ways to get approval in a tepid real estate market.
October 1, 2007... The availability of mortgage credit is getting tight. And while it would probably be a stretch to say subprime loans are drying up, the spigot for less-than-perfectcredit borrowers won't be nearly as robust in future as earlier in the decade....

Loyalty Cards: Card Issuers Issue Perks: New loyalty programs from firms like MasterCard cater to the rich by offering preferential service for restaurants and spas.
October 1, 2007... To woo high net worth, firms are pulling out all the stops, including evolving traditional loyalty into something that almost amounts to a personal automated high-end concierge. "The values of these people are changing," says Leslie Ehrlich, a...

Mobile Banking's Second Act.
October 1, 2007... After an ill-fated spate of mobile-banking initiatives earlier this decade, banks are poised to offer wireless services, convinced that the technology is ready for prime time-even if carrier relations and technical standards remain unresolved....

Dividing Lines: Will mobile bank deals with carriers evolve, or dissolve?
October 1, 2007... When the FCC auctions off the 700mhz frequency spectrum in January, Google CEO Eric Schmidt will have his hand raised and a $4.6 billion check at the ready. With the requirement (so far) that at least some of the spectrum must be open-access-a...

Small Business: Adapting Retail to Digital Biz Apps: Keynote Systems, Change Sciences Group find a mixed bag in measuring how well the big banks are meeting the online banking needs of Mom and Pop shops.
October 1, 2007... Big banks are no longer ignoring the online banking needs of small businesses once considered too needy to court. Self-service technology and e-commerce options have helped change those opinions, not to mention an annual revenue pie of $120...

Remote Capture: All Customers are External Accounts: Banks are finding remote capture useful on a number of fronts, with new offerings being used to attract corporate accounts in a manner that's almost agnostic to geography.
October 1, 2007... The benefits of remote deposit capture (RDC) of checks and other documents have always been touted as a means for customers outside a bank's geographic footprint to be brought into the fold. But it turns out the geographic benefits are more...

Questions to Ask Before Buying RDC.
October 1, 2007... Banks and credit unions don't want to be in the hardware distribution business. Yet, with the rapid deployment of remote deposit capture (RDC) devices, financial institutions are inevitably being associated with this business, whether they own...

'EDE' Spurs Efficiency in a Tough Market.(Viewpoint essay)
October 1, 2007... Every day, people are forced to make decisions, and often quickly. Do I accelerate or hit the brakes as I approach the yellow light? Do I order the turkey or roast-beef sandwich for lunch? Should I stay up and watch some television or get some...