News & Commentary
Content posted in December 2002
New NACHA Chair Outlines Goals
News  |  12/16/2002  | 
Leonard J. Heckwolf, the new chairman of the Board of Directors for NACHA, the Electronic Payments Association, talks about the goals and challenges facing the electronic payments industry.
ANZ To Focus On Security And Regulatory Issues
News  |  12/16/2002  | 
When asked what his major concerns were likely to be in 2003, David Boyles, COO of ANZ Banking Group, came up with the following three topics: Basel II, anti-money laundering and cost-cutting.
Fleet CEO Speaks About Online Banking and Brokerage
News  |  12/16/2002  | 
Chad Gifford, CEO of FleetBoston Financial, believes the industry is migrating toward a single system when it comes to online banking and brokerage services.
Risk Management Policies Expand, But Still Room For Improvement
News  |  12/16/2002  | 
Financial institutions move toward a more holistic approach to risk management, but a survey by PricewaterhouseCoopers identifies scope for improvement.
A Technology Primer for CRM Systems
News  |  12/10/2002  | 
CRM is truly a pervasive change in the way of conducting business for a typical bank or credit union. It takes quite a bit of coordination - enabled by technology-to pull off the strategy successfully.
Enterprise Data Solution Finds a Home at BofA
News  |  12/10/2002  | 
BofA provides online banking access to 4 million active users.
Old IBM Standby Now Open to Change
News  |  12/10/2002  | 
The IBM 3890 endures the movement toward PC-based systems.
Acquiring Minds
News  |  12/10/2002  | 
Thanks to a rather aggressive acquisition strategy, Bank of the West and its holding company, BancWest Corporation, have become a $34 billion in assets regional banking concern.
Image Capture Product Is Unveiled
News  |  12/10/2002  | 
Advanced Financial Solutions and Infonox introduce AFS ATM Capture.
Fleet Selects Viewpointe Archive Services
News  |  12/10/2002  | 
FleetBoston Financial signs a long-term agreement to implement Viewpointe Archive Services' check image archiving technology.
Allfirst Bank Lowers Image Defect Ratio
News  |  12/10/2002  | 
Allfirst Bank records its lowest IDR, as measured by the amount of missing or blurred check images per checks processed.
U.S. Bancorp To Overhaul Payments
News  |  12/10/2002  | 
U.S. Bancorp hires Unisys to provide advice on architecture design, image delivery, workflow, revenue generation and related issues.
New Jersey Bank Taps iMagic
News  |  12/10/2002  | 
Farmers and Mechanics Bank say goodbye to the headaches of printing and mailing statements. The institution will soon be adding check imaging capabilities to its current Web banking offering through its purchase of the iMagic platform from Open Solutions.
News  |  12/10/2002  | 
Banks circle the open seats in the check clearing game.
The Winning Touch
News  |  12/10/2002  | 
Finding the proper balance between people and technology is key to contact center success.
Parish National Bank Installs Web-based FM Tools
News  |  12/10/2002  | 
A Louisiana bank has discovered that even the simplest of tasks can benefit from a technology approach.
Indiana Bank Taps Intrieve
News  |  12/10/2002  | 
Like its customers in rural Indiana, Peoples Federal Savings Bank is slow to change. With its small-town heritage and clientele, the 115-year-old bank has tended to adopt new technologies gradually and deliberately.
VyStar Credit Union Taps Appro LoanCenter
News  |  12/10/2002  | 
VyStar Credit Union installs LoanCenter for Consumer from Appro Systems.
Bank Axes Payroll System, Not Employees
News  |  12/10/2002  | 
Wisconsin-based First Banking Center is stuck with a payroll system with more holes than a slice of Swiss cheese.
Fifth Third Selects Fiserv Platform
News  |  12/10/2002  | 
Fifth Third Bank licenses the UniFi Pro Mortgage loan origination and processing solution from Fiserv.
Fleet Tests Facilities Management System
News  |  12/10/2002  | 
What's always there but invisible? Space. For banks concerned with squeezing out costs, however, space is anything but invisible.
Citigroup White Labels FX Suite
News  |  12/10/2002  | 
Citigroup introduces a white label foreign exchange platform that provides financial institutions with an integrated online technology and liquidity solution for clients, sales staff and traders.
Freddie Mac Inks Software Deal
News  |  12/10/2002  | 
Freddie Mac sells the rights to its online mortgage processing and closing tools to BCE Emergis for approximately $18 million.
World Briefs
News  |  12/10/2002  | 
WestLB installs Loan IQ in its Singapore, Tokyo and Sydney offices; BOC Credit Card contracts with EDS to upgrade its card processing systems in mainland China, Hong Kong and Macau; OKO Bank licenses Kana IQ, a contact center management solution from Kana.
RBC Promotes Company-Wide High Standards
News  |  12/10/2002  | 
With operations spread out over 30 countries, RBC Financial Group is challenged to define a single global privacy policy.
Polish Bank Signs Network Deal
News  |  12/10/2002  | 
Pekao signs a multiyear ATM network participation agreement with Euronet Worldwide.
Deutsche Bank Inks Deal With IBM
News  |  12/10/2002  | 
Deutsche Bank has contracted with IBM to take over its computer center operations in continental Europe. The 10-year deal, worth 2.5 billion euros, should add up to annual IT savings of 100 million euros.
Bank Bytes
News  |  12/10/2002  | 
Sutton Bank contracts with Metavante for stored-value card processing services; BankAtlantic taps FundsXpress for hosted e-banking services; National City licenses WebSeries.
FSTC To Market E-Check Technology
News  |  12/10/2002  | 
The Financial Services Technology Consortium plans to market and license its patented electronic transaction technology to financial institutions and other industries.
Banks Likely To Offer A2A Soon
News  |  12/10/2002  | 
Banks are likely to offer account-to-account (A2A) funds transfers as they seek to capitalize on their investments in online banking platforms.
ATM Use Shrinking: TowerGroup
News  |  12/10/2002  | 
Although ATMs remain one of the most critical channels in a retail bank's distribution network, a mushrooming number of machines, coupled with alternate payment options like debit cards, is eroding both the number of per-machine transactions and return on investment.
Banks In Quandary Over Anti-Terror Compliance
News  |  12/10/2002  | 
The need to screen customers and transactions against growing lists of known or suspected terrorists is straining recordkeeping and IT resources.
Old Traditions
News  |  12/10/2002  | 
I plan on adopting my late grandparents strategy to Christmas gift giving. They were first generation Sicilians, and they always gave the same simple present-money. This plan was partially predicated on necessity-they had 16 grandchildren and very limited funds-and culture.
PNC Uses Technology to Spot Potential Defectors
News  |  12/9/2002  | 
PNC's policy of technological innovation and integration allows it to easily spot, and retain, potentially dissatisfied customers.
Online Banking Blooming, Finally
News  |  12/9/2002  | 
Online banking has been so slow in growing that it missed the dot-com boom. But it has reached a third of U.S. consumers.
Eradicating The Paper Chase
News  |  12/9/2002  | 
Banks looking to build customer loyalty may be wise to consider paper suppression systems.
International Bytes
News  |  12/9/2002  | 
Robeco Bank experiences an increase in productivity by using Siebel CRM products; Allied Irish Banks chooses a check fraud prevention system from Carreker; Penson Worldwide Settlements licenses an automated clearance and settlement service from SunGard Securities Processing.
North America Bytes
News  |  12/9/2002  | 
JP Morgan Chase Bank to use check fraud detection system from Fiserv; Zions Bancorporation selects real-time Web analysis tool from Omniture; ATB Financial installs an integrated money laundering and fraudulent activities detection system from ACL Services.


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