News & Commentary
Content posted in December 2010
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Unplug and Enjoy the Break, If You Can
Commentary  |  12/23/2010  | 
The downside of texting at the holiday dinner table.
Comerica Bank Names EVP of Treasury Management Services
News  |  12/23/2010  | 
Comerica Bank names Bridgit Chayt EVP of Treasury Management Services.
People to Watch in Bank Technology 2011
News  |  12/22/2010  | 
With regulation, trust and financial performance top of mind for bank technology leaders, Bank Systems & Technology presents some of the people who will be shaping the competitive environment in the coming year.
10 Game-Changing Tech Trends for 2011
News  |  12/22/2010  | 
BS&T's editors predict the hot technologies that will be banking game-changers in the year ahead.
2011 Bank Technology Outlook: Major Projects, Bigger Budgets in Store for Bank CIOs
News  |  12/22/2010  | 
Bank CIOs will be charged with pursuing major tech projects -- including compliance, core systems and mobile banking initiatives -- in 2011, members of BS&T's Reader Advisory Board report. The good news is, they're likely to have more money to complete them.
U.S. Treasury Phases Out Checks
News  |  12/22/2010  | 
Moving to electronic payments for government benefits is expected to save Social Security $1 billion.
Barney Frank Objects to Fed's 12-Cent Cap on Debit Card Fees
News  |  12/22/2010  | 
Dodd-Frank co-author says the amount card providers are allowed to charge is too low to cover their costs, and that fees ought to be left to the free market.
Hancock Holding Company and Whitney Holding Corporation Announce Merger
News  |  12/22/2010  | 
Hancock Holding Company and Whitney Holding Corporation announce merger; combined Gulf South financial institution will comprise $20 billion in total assets, $16 billion in deposits.
First Bank of Delaware Consolidates Data Centers
News  |  12/22/2010  | 
Data migration project completed with only two minutes of downtime provides cost savings of $60,000 per year.
Dodd-Frank Whistleblower Provisions Could Hamper Banks' Compliance Efforts, NACD Claims
News  |  12/21/2010  | 
Rules incent informers to bypass their internal compliance departments and report foul play directly to the SEC, the group says.
If I Were A Bank CIO...
Commentary  |  12/21/2010  | 
CIOs should take advantage of the holiday break to rest, reflect and create a new IT blueprint for their bank.
Bank of America vs. Wikileaks Battle is Heating Up
News  |  12/20/2010  | 
Wikileaks founder Assange says banks are attacking him and vows to release incriminating documents about them.
Leveraging Lean in Financial Services: Making It Work
Commentary  |  12/20/2010  | 
Banks can learn from the automobile industry's success in applying Lean production practices to gain efficiency and improve quality.
A Long-Term View of the Fed’s Debit Interchange Gambit
Commentary  |  12/20/2010  | 
What kinds of changes will banks need to make to both the debit card account and related debit card processing fees for consumers and merchants?
Product Bundling is the Key to Profitability
Commentary  |  12/20/2010  | 
With the right technology, banks can come up with the right product mixes to meet customers' ever-changing needs.
Banks' Data Management Strategies Must Go Beyond Compliance
News  |  12/17/2010  | 
Banks' data management strategies must go beyond compliance; financial institutions have to transform themselves into real-time, fact-based decision making institutions, says HP's Mark DeBenedictus.
BMO Financial Group to Acquire M&I
News  |  12/17/2010  | 
BMO Financial Group to acquire M&I with goal of expanding BMO's U.S. presence; companies cite complementary capabilities, strong management and "deep customer relationships."
Citibank Opens Apple Store-Like Branch in Union Square
News  |  12/17/2010  | 
New branch uses flat-panel displays and enhanced ATMs similar to those used by Umpqua Bank, Royal Bank of Canada and Wells Fargo.
Industry Reacts, Need We Say Unfavorably, to Fed's 12-Cent Cap on Debit Fees
News  |  12/17/2010  | 
The ABA, ICBA, Visa and MasterCard all have strong words for the Federal Reserve's strict limit on debit card interchange fees.
Fed Proposes 12-Cent Cap on Debit Card Fees
News  |  12/16/2010  | 
Fee limits would cause banks' interchange fee income to drop by 70%, the Fed estimates.
Three Ways to Play Smarter with Mobile and Social Networking
News  |  12/16/2010  | 
Generally speaking, people aren't that aware of the risks involved with mobile commerce, banking and social networking.
Avidia Bank Joins the Secure Vault Payments Network
News  |  12/16/2010  | 
Massachusetts community bank adds online payment option for consumer and commercial banking clients.
JPMorgan Chase Pilots Prepaid Card for Disabled NYC Commuters
News  |  12/16/2010  | 
Transit authority expects to save 70% on Access-A-Ride costs by having non-wheelchair-using customers take taxis and pay with their prepaid cards.
How North Dallas Bank Reduced Debit Card Fraud By 73%
News  |  12/15/2010  | 
A hardware device automatically verifies and encrypts customers' PIN numbers.
SOA is Alive and Well in Banking, Survey Suggests
News  |  12/15/2010  | 
Forrester study finds that 80% of banks use services-oriented architecture for at least some of their applications.
The UBS Guide to Fashion
News  |  12/15/2010  | 
UBS dress code requires bankers to wear deodorant to retain freshness, confidence and vitality.
Deutsche Bank to Roll Out TCS Core Banking in 30 Countries
News  |  12/14/2010  | 
Bank is working to standardize global transactions.
Leaks, Freaks, Sneaks, Tweaks and Geeks -- What Do They Mean For Online Banking?
Commentary  |  12/14/2010  | 
Nothing good is the short answer. Now let's look at the long answer.
Google's Android NFC Support Plus Zetawire Acquisition Equals G-Wallet
News  |  12/14/2010  | 
The Internet search giant could be the next big player in payments processing.
First Wells Fargo ATM Opens in Times Square
News  |  12/14/2010  | 
At an ATM unveiling in midtown New York City, Wells Fargo EVP Jonathan Velline demonstrates new ATM features and shares some of the bank's ATM and branch strategy.
S1 and PayPal Confirm Global Payments Processing Agreement
News  |  12/14/2010  | 
S1 and PayPal confirm global payments processing agreement that allows consumers to send money via mobile phone or email by leveraging the PayPal network.
IT Downtime Costs Financial Services Firms $224,000 Each Per Year
News  |  12/13/2010  | 
Survey sponsored by CA finds North American businesses experience 1.7 million hours of downtime a year.
Fraud Victims to Protest RBC with Christmas Carols
News  |  12/13/2010  | 
We'll show you a Holly Jolly Christmas, clients of Ponzi schemer Earl Jones threaten.
Q&A: IBM Exec Jai Menon Describes His Vision for "Flexible IT" for Data Centers
News  |  12/10/2010  | 
Data centers of the future will be a mix of mainframes and smaller servers, IBM and non-IBM, old and new applications, with a grand uber management layer orchestrating what runs where.
Former Office of Management and Budget Director Orszag to Join Citi
News  |  12/10/2010  | 
Former Office of Management and Budget Director Peter Orszag to Join Citi as a Vice Chairman in Global Banking; will be a member of bank's Senior Strategic Advisory Group.
BankServ Launches Mobile Check Deposit for BlackBerrys
News  |  12/10/2010  | 
Letting bank customers deposit checks anywhere by taking a picture of each check with their BlackBerry's camera.
Gartner Expects 14% Growth in Master Data Management Software Revenue for 2010
News  |  12/9/2010  | 
Analysts project master data management software market will reach $1.5 billion by year end.
MasterCard to Buy Travelex Prepaid Program for $485 Million
News  |  12/9/2010  | 
Placing a big bet on the prepaid and travel market, especially outside the U.S.
Hackers Take Down Visa, MasterCard Websites in Response to their Wikileaks Stance
News  |  12/8/2010  | 
An anonymous group allegedly organized a DDOS attack on MasterCard though Internet message board 4Chan.
Wells Fargo Helps Customers Track ATM Withdrawals
News  |  12/8/2010  | 
Bank helps customers set a target, track monthly ATM withdrawals as part of managing their finances.
One Easy Step to Preventing a 'Wikileak'
News  |  12/8/2010  | 
Want to know how to protect sensitive data from falling into the wrong hands in one easy step? Simple: label it.
Citi Makes Savvy Use of Facebook to Promote NYC Tweetup
News  |  12/8/2010  | 
Good example of how banks can benefit from social media.
Customers Want to Friend Their Banks In Social Media
News  |  12/8/2010  | 
High income customers seek to read other customers' reviews and receive information about financial services on social media sites.
Harland Financial Solutions Acquires uMonitor
News  |  12/7/2010  | 
Core systems provider Harland Financial Solutions aims to expand its presence in self-service and e-payments with acquisition of uMonitor.
Wells Fargo Pilots, Visa Formally Launches Mobile Contactless Payments
News  |  12/7/2010  | 
Two hundred Wells Fargo employees to try contactless mobile payments on BlackBerrys and iPhones; system now available to all banks.
5 New Rules for Twitter
Commentary  |  12/7/2010  | 
Five new rules for Twitter.
Large Banks to Nurture Startups Through FinTech Innovation Lab
News  |  12/7/2010  | 
Large NYC banks to provide money, mentoring and advice to each of six financial technology entrepreneurs.
How a Community Bank Uses Remote Deposit Capture to Extend its Footprint
News  |  12/6/2010  | 
First Federal Bank of Louisiana deploys Benchmark Technology's Corporate Capture21 RDC solution to merchants, extending the bank's reach while adding security.
NFC Support Baked Into Google's Latest Version of Android OS
News  |  12/6/2010  | 
Google's newly-announced Android 2.3, or Gingerbread, comes with Near Field Communications support.
U.S. Bank Offers Mobile Banking for Prepaid Cardholders
News  |  12/6/2010  | 
Prepaid cardholders can bank via BlackBerry and iPhone.
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