Just what this industry needs, another banking convention
by Art Gillis
I haven't been to a banking convention in so many years that the homeless guys, on my way to the office, are complaining. "I need more T shirts." "Any more hats, the sun's burnin' me up?" It looks like I'm going to have to go shopping to clothe my "friends" but where am I going to find tight polyester T-shirts and stupid hats? Orlando and Las Vegas are the obvious answers, and right after a banking convention.
Except as a reason for low-level bank employees to get out of tow
Knowledge transfer doesn't have to be painful or expensive.
by Art Gillis
Tomorrow, Fidelity National Information Services and Certegy will meet at the altar of mergers. So was it a coincidence that two officials from FNIS came to visit me today? Yes, and it was worth it. For this outspoken straight shooter, it was a display of "I tell it as I see it." I wasn't quite sure that these two companies were going to blossom all of a sudden just because they became one. My reasons were simple. Bankers just don't abandon their incumbent vendors overnight i
Friday feature on HSAs...
"Bank of America, J. P. Morgan Chase, Fidelity Investments and hundreds of others are hoping to capitalize on the latest wrinkle in medical care paid by consumers: health savings accounts ..."
Health Savings Accounts Attract Wall St.
New York Times (registration required)
January 27, 2006
HSAs are slated to be one of the key themes in the State of the Union speech.
Gee, I wonder if it will bec
Sad Sunday story...
"On the afternoon my mother died, she left work early. Her day as a computer programmer at Chase Manhattan Bank had skidded to an abrupt stop courtesy of a systemwide computer failure, and all employees got the afternoon off."
Two Decembers: Loss and Redemption
New York Times (registration required)
January 29, 2006
For The Love Of Labor
Amex will use Sun enterprise middleware to help the company develop portal applications and enhance its identity management services.
Taking A Stand...On What?
True, some bankers are willing to take a stand on social issues such as the potential abuse of eminent domain. But there's a real leadership gap when it comes to looking at the big picture — social and environmental sustainability in lending.
Watchdog group BANKTrack rated 39 banks on the basis of 13 categories: human rights; labour rights; indigenous people; climate and e
BB&T Takes Stand on Eminent Domain
Taking a stand on last year's controversial Supreme Court ruling, Winston-Salem, N.C.-based BB&T won't lend to developers building on land taken from private citizens through the power of eminent domain.
"The idea that a citizen's property can be taken by the government solely for private use is extremely misguided, in fact it's just plain wrong," said BB&T Chairman and Chief Executive Officer John Allison.
A State Of Flux
Sometimes, banks seem to be playing a constant game of catch-up. And if you're in financial services IT, the action is even more intense. From securing networks against hackers to maintaining that delicate balance between compliance and profitability, banks' technology systems and the people who work on them have their hands full.
Talk to the Wal
Apparently, Executive Editor Ivan Schneider isn't the only one who thinks The Bank of Wal-Mart isn't such a hot idea. Two U.S. Congressmen -- including Thomas Bliley, one of the forces behind the Gramm-Leach-Bliley Act -- also responded to The WSJ's Wal-Mart editorial. Here are excerpts from their letters, which are available in their entirety at www.icba.org.
How are bank customers changing, and what must financial institutions do to meet these evolving requirements? Establishing flexible infrastructures and adapting systems to provide appropriate customer support and product development are critical steps.
Prepping for Prime Time
Experts say several unlikely technologies are destined to make a splash in banking this year.
Who's going to shake up the U.S. market in 2006?
According to the FTC:
The major metropolitan areas with the highest per capita rates of reported identity theft were Phoenix/Mesa/Scottsdale, AZ; Las Vegas/Paradise, NV; and Riverside/San Bernardino/Ontario, CA.
The mythical conception of the American West is a place where you go to reinvent yourself, to craft a new identity. I guess some people are taking that literally.
FTC Releases Top 10 Consumer Fraud Complaint Categories: Identity Theft Again Leads the List
BS&T: The Movie
I've always wondered why the lawyers get all of the attention in Hollywood, when banking is obviously the more exciting industry. Finally, Hollywood has recognized what we've known all along, with the upcoming release of a new film for the Bank Systems & Technology set, a film with the Harrison Ford seal of approval.
From the "Firewall" Web site:
Computer security specialist Jack Stanfield (HARRISON FORD) works for the Seattle
Vendors say their revamped identity management suites are perfect for automating midsize enterprises. If so, then why are they so desperate to make a sale?
Most laptops now have the option of an integrated fingerprint reader, and new regulations may prompt online banks to adopt biometrics. But is it the ideal form of authentication, or a privacy nightmare?
What does Judge Alito know about technology?
A journalist covering legal issues asked me why Judge Alito hadn't demonstrated any expertise regarding technology during his confirmation hearings. Following is my answer.
I have worked on 22 cases as an expert witness because of my background in technology. I know nothing about the law. A good expert witness doesn't select his cases. They come to him so I have no bias as to why I worked on these 22 cases. The conclusion I have drawn from my experience is that cases relating to technology
The Largest Gap in Technology
The Largest Gap in Technology - The Executive Suite and The Bank's "Factories."
To residents of the executive suite,
Take a couple of days off, wear your jeans and a black turtle neck (a la Steve Jobs, the Apple Computer genius) and report for work in a few of your branch lobbies and your back rooms. Result: You'll get depressed, and then you'll kick a few butts. How do I know? When banks hire me to do it, my canary yellow legal pad ends up with about 200 systems-related gripes from the
Anatomy Of A Break-In
Ride along as a team of security pros pokes holes in the security perimeter of one large company that thought it was safe.
Powering Up the Grid
As calculations become more complex, financial services firms are turning to existing technology assets for more processing power.