Outsourcing Having accepted outsourcing and offshoring as more than cost-cutting strategies, banks are reevaluating which parts of their businesses to outsource. As a result, they're not only gaining efficiencies and access to better technology, but also improving their operating models.
Does your bank rely too much on financial modeling in risk management?
If so, you may be vulnerable to "model risk." And no, that's not the risk of being hounded by paparazzi.
For more, read the FDIC's article.
Tip of the hat to Goodwin Proctor LLP's "Financial Services Alert" newsletter.
Heroes and Villains
It's celebration time -- today's the day of CMP's annual holiday party.
As such, upon arriving to the office this morning, each employee at CMP received a gift from our new CEO, Steve Weitzner. He's already made a real impact on the company as a communicative leader who knows what has to be done, as someone who's come up through the ranks.
Since I make it my business to know about all sorts of things before they happen, the gift was not exactly a surprise. But I certainly didn't expect two g
NCR To Offer Retail Biometric System Globally
The services use Pay By Touch's authentication and payment service and NCR's biometric point of sale products to allow shoppers to pay for services and retail goods with a finger scan.
From the Financial Insights report: "BAI RDS: R.I.P.?"
RDS has been in decline since the shows of 1999 and 2000. Institution attendance continues to spiral downward. Participants are by and large not technology decision makers. There are no 'hot' technologies to spike interest. In short, "No buzz-No bodies". Competing with RDS (and winning) are vendor client conferences that attract senior executives and have recently shown signs of becoming collaborative efforts of non-competiti