New NACHA Chair Outlines Goals
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
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.
A Technology Primer for CRM Systems
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.
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.
U.S. Bancorp To Overhaul Payments
U.S. Bancorp hires Unisys to provide advice on architecture design, image delivery, workflow, revenue generation and related issues.
New Jersey Bank Taps iMagic
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.
Banks circle the open seats in the check clearing game.
The Winning Touch
Finding the proper balance between people and technology is key to contact center success.
Indiana Bank Taps Intrieve
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.
Citigroup White Labels FX Suite
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
Freddie Mac sells the rights to its online mortgage processing and closing tools to BCE Emergis for approximately $18 million.
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.
Deutsche Bank Inks Deal With IBM
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.
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
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
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
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.
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.
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
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.