News & Commentary
Content posted in January 2011
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Large Banks Care About the Mass Affluent But Struggle to Serve Them
News  |  1/31/2011  | 
Aite Group analysts believe that unless they make changes, banks risk losing the mass-affluent opportunity to online brokerage firms.
CIBC Launches Mobile App for Home Buyers
News  |  1/31/2011  | 
New app for iPhone and BlackBerry smartphones gives Canadians mobile access to mortgage tools, advice, and neighborhood information, while they’re out looking for a new home.
Barclaycard, Everything Everywhere Partnership to Launch U.K.'s First Mobile NFC Payments Solution This Summer
News  |  1/28/2011  | 
Near Field Communications-enabled SIM cards, payments capabilities from MasterCard and TSM from Gemalto will enable the new mobile-based payments capabilites.
Banking Is Ruined Forever, Or At Least Until Lawmaker Reform Takes Place
Commentary  |  1/28/2011  | 
A synopsis of the financial crisis.
Former JPM Head of Compliance/Americas Forms Consultancy
News  |  1/27/2011  | 
Former JPM Head of Compliance/Americas forms Compliance Risk Management to offer "customer tailored" solutions to financial services firms.
Disjointed Mobile Banking, Payments Strategies Present a Challenge
Commentary  |  1/26/2011  | 
IDC analysts suggest ways banks can refine their mobile banking strategies.
How to Stem the Tide of Mobile Attacks
Commentary  |  1/26/2011  | 
Threats to the security of mobile banking transactions are increasing, but there are three steps banks can do to protect them.
Zions Bancorporation Rolls Out Corporate Check Recovery
News  |  1/26/2011  | 
The Salt Lake City-based bank holding company adds new check re-presentment and reporting capabilities.
Mobile Banking Ubiquitous Among Large Banks, Chase's Declared Best
News  |  1/26/2011  | 
Corporate Insight has determined Chase's mobile banking offerings to be the best among the 16 large banks it tracks, largely because of its remote deposit capture offering.
Bank of China Reducing Paper Consumption 95% By Taking SWIFT Messages Paperless
News  |  1/26/2011  | 
Bank of China's London subsidiary has stopped printing SWIFT messages, instead routing them with IBM software, cutting down on paper and making the messages easier to search.
Technology's View of 15,164 U.S. Financial Institutions Consists of 10 Groups
Commentary  |  1/25/2011  | 
More than just the two types people tend to think of.
Social Media Analytics Tools Bulk Up
News  |  1/25/2011  | 
The tools banks use to monitor and analyze customer activity on social media networks are quickly expanding and adding new features.
Rumors Swirl Around Apple's Next iPhone and NFC
News  |  1/25/2011  | 
Whether or not Bloomberg is correct in saying Apple will include NFC in its next iPhone, the idea makes sense.
Chase to Deploy Hundreds of Single-Slot NCR ATMs
News  |  1/24/2011  | 
Consumers will be able to drop cash and checks simultaneously into a universal deposit slot.
Strategic vs. Tactical IT: Both Add Value -- Timing Is Important
Commentary  |  1/24/2011  | 
Which IT priorities -- strategic vs. tactical -- are right for the near, medium- and longer-term?
Consumer Group Applauds CFPB's Efforts to Date, Including Its IT
News  |  1/24/2011  | 
Technology team making quick work of new website and complaint database.
Banking IT-- Still Seeking Respect?
Commentary  |  1/21/2011  | 
With Q4 financials coming out, it seems like top management at many banks still sees IT as a cost, rather than a strategic necessity.
BofA's Apparent Domain Buy-Up the Cost of Doing Business in the Age of WikiLeaks
News  |  1/21/2011  | 
Reports suggest Bank of America might be taking online brand protection initiatives.
Banco Santander to Replace 670 ATMs
News  |  1/21/2011  | 
Largest bank in Europe to roll out a fleet of Diebold Opteva machines.
Inside IBM's Mega Outsourcing Projects With ABN Amro and Bank of Ireland
News  |  1/21/2011  | 
There was a boom in large outsourcing contracts among banks in 2010 and IBM was a big winner.
Eric Schmidt Steps Down as Google CEO
News  |  1/20/2011  | 
Google co-founder Larry Page will take over as chief executive in April, as Schmidt becomes executive chairman.
Frank Says He'll Work to Revoke 12-Cent Cap on Debit-Card Fees
News  |  1/20/2011  | 
Dodd-Frank co-author says he will work with House Republicans to get the Fed to change its ultra-strict limits on debit card interchange fees.
Compliance, Analytics Top TowerGroup's Vision of 2011 Bank Initiatives
News  |  1/20/2011  | 
Research and advisory firm TowerGroup says banks seek to meet regulation, recover lost revenue in 2011.
SWIFT Targets Global Securities Business with New Senior Appointments
News  |  1/20/2011  | 
SWIFT names Fabian Vandenreydt Head of Securities and Treasury Markets; Brett Lancaster hired as Managing Director, Securities Initiatives, Americas.
Banco Sabadell Becomes First Spanish Bank to Offer Mobile Deposit Capture
News  |  1/20/2011  | 
Letting customers deposit checks with a snap of their iPhone or Android device.
Banks' Technology Response to Regulatory Changes
Commentary  |  1/19/2011  | 
Meeting the Dodd-Frank Act's ongoing and evolving regulatory demands will require banks to make significant investment in data and analytics.
Starbucks Card Mobile App Could be Tipping Point Toward Mobile Payments Adoption
News  |  1/19/2011  | 
Drew Sievers, whose company mFoundry powers Starbucks' solution, sees app-based payments as a rallying cry toward future mobile and NFC payments growth.
How Sheila Bair Would Fix the Foreclosure Crisis
News  |  1/19/2011  | 
Mortgage servicers should be compensated differently and provide a single point of contact for troubled borrowers, for a start.
Addressing Commercial Finance Challenges
Commentary  |  1/19/2011  | 
What kind of impact will a host of new financial services regulations have on banks' commercial financing businesses?
When Bank Tech Vendors Cater to the Underserved, That Gives "Value-Add" A Whole New Meaning
Commentary  |  1/17/2011  | 
A new electronic financial account could give banks a piece of tech sensitivity.
BofA Website Outage Caused by Routine Systems Work
News  |  1/14/2011  | 
While BofA says only a small number of users were affected, it turned to social media to address customer concerns.
First Direct First U.K. Bank to Launch Mobile Payment Service
News  |  1/14/2011  | 
iPhone app lets customers make person-to-person payments.
Americans' Use of Cash Dropping, Except Among Gen Y
News  |  1/14/2011  | 
Aite Group's prediction that U.S. consumers’ use of cash will decline by a total of 17% between 2010 and 2015 is not surprising, given the rising popularity of debit cards and mobile payments. But why is Gen Y increasing its use of cash?
Treasury Department's Prepaid Debit Card Tax Refund Pilot Begins
News  |  1/13/2011  | 
More than half a million tax returns could be dispersed via prepaid debit cards under the U.S. Treasury's new program.
BBVA to Deploy 200 Custom-Designed ATMs in Spain
News  |  1/13/2011  | 
Bank spent two years designing ATMs that would be simple to use.
Perception of Banks in Social Media Became Positive in Q4 2010, Analysis Finds
News  |  1/13/2011  | 
Serendio's latest social media analytics study has found that American Express and Citibank have grown most in the estimation of social media network members.
90% of U.S., U.K. IT Managers Plan to Deploy New Mobile Apps in 2011
News  |  1/13/2011  | 
Sybase survey finds that 21% look to introduce 20 or more mobile applications into their organization.
Obopay Names New CEO
News  |  1/12/2011  | 
Mobile payments provider Obopay names Deepak Chandani top exec.
Pitney Bowes Previews Secure Digital Delivery Service
News  |  1/12/2011  | 
Pitney Bowes previews Volly, cloud-based secure digital delivery service.
CFPB Releases Details of Complaint Database It's Creating
News  |  1/12/2011  | 
The Consumer Financial Protection Bureau's implementation team, headed by Elizabeth Warren, is constructing a comprehensive archive of consumer complaints about financial products and services, with plans to share this information with other government agencies, Congress, contractors and others.
ECM: How to Do More With Documents Than Just File Them Away
News  |  1/11/2011  | 
Enterprise content management systems present banks with an opportunities to create competitive advantage by leveraging data as an asset. But defining business goals is critical to realizing ECM's value.
What Does a Verizon iPhone Mean for Banks?
News  |  1/11/2011  | 
Ultimately, wider carrier availability of Apple's iPhone could drive mobile and online banking.
Wealthy Under-50s Getting Richer, But Long for Better Financial Technology
News  |  1/11/2011  | 
Appealing to rich investors under 50 could win banks $18.6 billion in revenue, Cisco research finds.
BankLiberty Turns to Hosted File Transfer Solution
News  |  1/11/2011  | 
BankLiberty turns to a hosted solution in order to provide 24-7 file transfers and take a load off of its IT staff.
FNB South Africa Gains a Global View of Data
News  |  1/11/2011  | 
First National Bank of South Africa adopts SAS' next-generation Enterprise BI Server to gain a global view of data.
What Does Going Global Mean to U.S.-Based Bank Tech People?
News  |  1/11/2011  | 
Going global is not just a buzz word - start studying.
Wells Fargo Rolls Out New PFM Tool
News  |  1/11/2011  | 
My Money Map, a personal financial management tool from Wells Fargo, aims to help those more sure of their weight than their bank account balance.
90% of Companies Use Social Networking Internally, Survey Finds
News  |  1/11/2011  | 
Yet only 10% of them consider their internal social networking systems successful, according to InformationWeek Analytics research.
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