Bank Technology News articles from September 2006

Bank Technology News archives from September 2006

Content Management: ECM's Next Big Frontier For Banks: HR: Legal, compliance issues are the top drivers.(enterprise content management)
September 1, 2006... As community financial institutions adopt and expand their use of enterprise content management over the next five years, one segment of the business slated to have the fastest growth over the next five years has been one of the longest...

Branch Performance: Good in the Neighborhood: Banks go high tech to maximize branch locales.
September 1, 2006... When Huntington National Bank is scoping out locations for its new branches, the institution is not necessarily looking to saturate a neighborhood with an army of centers. Just being in the best spot in that neighborhood is enough. "Each...

Security Woes: Debit Fraud Costs Surge: Card and check theft get a lot of play, but debit losses are stacking up.
September 1, 2006... Anyone keeping score of debit fraud losses can add $700,000 to the 2006 totals, as hundreds of Dollar Tree customers report this amount siphoned from their bank accounts in a summer data breach. The bank-card industry projects debit-card...

Edit Index.(Table)
September 1, 2006... A,B Aberdeen Group 21 Aite Group 21 American Capital Strategies 14 APACS 37 Bank of America 19, 22, 35 ...

Correction.(Correction notice)
September 1, 2006... In "Direct Access: MWA's Open 24/7 Without Staffers" (July 2006), BTN incorrectly identified MWABank. BTN regrets the error. (c) 2006 Bank Technology News and SourceMedia, Inc. All Rights Reserved. http://www.banktechnews.com...

Branches Take Center Stage: Invest or Fall Behind.
September 1, 2006... Whether it's Umpqua CEO Ray Davis's new "neighborhood store" concept, Wachovia CEO Ken Thompson's urban service centers or Commerce Bank CEO Vernon Hill's 24/7 service commitment, it's clear that branches are a top priority among chief...

Documents: A Shred of Safety in Pennsylvania: Leesport Financial Corp. is offering a document shredding service to its customers.
September 1, 2006... Customers of Leesport Financial Corp. are able to not only deposit money in the bank, but also securely dump unwanted, and potentially risky, paper documents. The $993 million southeastern Pennsylvania community bank is installing a secure...

News Makers.(Federal Reserve/Electronic Check Clearing House Organization)(Brief article)
September 1, 2006... IMAGED ITEMS EXPAND; VOLUME BESTS CARDS Federal Reserve/Electronic Check Clearing House Organization (ECCHO) data shows the image-based processing volume of converted checks grew at an "unprecedented" pace in June to 200 million monthly...

Top Tech Deals.
September 1, 2006... NUMBER ONE IBM is eyeing the content-management space, and has agreed to buy FileNet Corp. for $1.6 billion as part of its plans. By gaining FileNet's P8 platform, IBM will be adding to its business process and service-oriented...

Into The Breach: Laptop Encryption is Now Mandatory: The risk assessment is in: encryption costs a few hundred dollars per laptop. That's a bargain, given that one data breach can cost millions, not to mention a career.
September 1, 2006... If the "don't want to end up on the front page of The Wall Street Journal" syndrome isn't enough to motivate CISOs to encrypt laptops, how about fear of getting fired? Pedro Cadenas Jr., former CISO of the U.S. Department of Veterans...

Techies.(appointments and promotions)(Brief article)
September 1, 2006... Joe Kuntz was named president of Baker Hill, a subsidiary of Experian. He was formerly Baker Hill's VP of sales. * Reliance Financial Corp announced the appointment of Steve Rudolph as president and COO of Reliance Integrated Solutions, a...

eStatements: Getting Tough on Opt-Ins: Cutting Off the Paper: Financial services companies worry about pushing customers into electronic statement delivery without a paper lifeline. Relax-they'll swim just fine.(Brief article)
September 1, 2006... Forrester Research has some Dr. Laura-type advice for financial institutions about their electronic statements policies. Quit being wimps. Too many banks that offer customers the choice of receiving electronic account statements through...

Customers, Not P&L Are Apt Barometer of Fraud: Instead of treating security as bitter medicine, perhaps banks should make it a core element of service.(Strategic Solutions Practice Unisys Global Financial Services)(Frank Liddy)(Interview)
September 1, 2006... Frank Liddy, Partner, Strategic Solutions Practice Unisys Global Financial Services: Young, affluent Internet users have the highest levels of trust in online banking, but are statistically the most likely fraud victims since they use...

Online Payments: New Cardless Choices Clicking: PayPal and Google expect to rule the alternative online payments space, but PIN Debit and bank-backed ACH options will abound, too.
September 1, 2006... Although the $239 billion in current credit card e-commerce transactions will grow to $340.9 billion by 2009, a recent Celent report on the online payments arena suggests this will still represent a precipitous decline. The 86 percent...

Supply chain services: Buyers, suppliers paying it forward: Banks look to firms like Xign, Bottomline Technologies to automate invoicing and payments for corporate clients.
September 1, 2006... Handling payments is a big money-waster for large corporations. According to a June 2006 report from Gartner, 75 percent of corporate treasury resources are spent compiling data and processing information around transactions. The mesh of...

Choosing Authentication Solutions: Vetting Vendors, Soothing Customers: Banks face tough choices today in building anti-fraud resiliency, from selecting providers to meeting user preferences. Will they be happy with those choices tomorrow?
September 1, 2006... When Internet access mushroomed at Stanford University in the early 1990s, online banking at Stanford Federal Credit Union quickly followed suit. Back when most banks didn't know what a URL was, SFCU in Palo Alto, CA was plugging in...

Roving Trouble.(banking industry)
September 1, 2006... The use of handheld devices in financial services increased by 80 percent over the past two years. The freedom to work remotely can increase employee productivity, but there's a downside: Securing email access to corporate server-based accounts...

Branch Renewal.
September 1, 2006... The Internet and call center are vital, but the branch, with its mix of personalized service and advanced technology, is still the heart of a bank operation. In an exclusive excerpt of "Revitalizing U.S. Branch Banking: A Little Less Talk, a...

Key Branch Initiatives and Their Drivers.(Brief article)
September 1, 2006... TECHNOLOGY DRIVERS * Core product growth * Increase cross-sell opportunities * Enhanced or consistent customer experience across channels * Improve front-and/or back-office efficiency * Enhance branch environment KEY...

Email Archives: Navigating Storage Can Be a Minefield: When it comes to electronic communications retention and disposal, there's lots of choices-each with its own benefits and flaws. The best place to start may be with an audit.
September 1, 2006... Everyone knows about Morgan Stanley's whopping $15 million fine last summer for email retention failures, and Merrill Lynch & Co.'s $2.5 million punishment earlier this year for not promptly producing requested emails. And just about every...

Data Security: Privacy Test Upshot: You Fail, You're Fired: Vendor security has become a major concern, and since a breach may happen at any point, every Zoot employee must pass a customer privacy exam to stay on the job.
September 1, 2006... If you don't know reviewing credit applications for women's first names is a violation of the Equal Credit Opportunity Act, you likely can't work for Zoot Enterprises - even if the job is limited to answering the phone or sorting mail. The...

Price Optimization: The Mystery Of What To Charge: Banks are mulling new tech offerings that use customer analytics to help determine what products should cost.
September 1, 2006... More than ever before, banks are interested in figuring out how "elastic" their customers are. It's a question that, if answered correctly, can be a boon to the bottom line. In the expanding game of price optimization, "elasticity" refers...

How to Make Winning Tech Investments.
September 1, 2006... Properly directed, funded and managed, your IT spending can enable your company to leap-frog the competition and create competitive operational advantages that other companies will find extremely difficult to overcome. Top companies in all...

Authentication Needs to Be 'Strong'.
September 1, 2006... It has become alarmingly clear: e-commerce will not thrive on usernames and passwords alone. Identity theft and online fraud are forcing financial institutions, governments and other organizations to quickly find ways to improve Internet...