News & Commentary
Content posted in December 2012
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Major Borrowers to Reduce Bank Deposits: Fed Survey
News  |  12/28/2012  | 
Wall Street dealers expect hedge funds, insurance companies and other borrowers to pull some cash from commercial banks when a financial crisis-era deposit insurance program expires at the end of the year, the Federal Reserve said on Thursday.

RBS Wins Dismissal of Lawsuit by South Korea's Woori
News  |  12/28/2012  | 
Royal Bank of Scotland Group Plc on Thursday won the dismissal of a lawsuit by South Korea's Woori Bank over losses from mortgage-related investments, in a case between two big banks put under state control following financial crises.

Wells Fargo Doesn't Have to Pay Clients $203 Million: Court
News  |  12/27/2012  | 
A U.S. appeals court vacated an injunction and a $203 million restitution order against Wells Fargo & Co in consumer litigation over the bank's overdraft policies, according to a ruling issued on Wednesday.

The Big Challenge is Big Data in 2013
Commentary  |  12/21/2012  | 
Without the capacity to mine mountains of customer data across multiple channels, banks won't be able to offer the integrated and consistent multi-channel experience customers demand today.
Regulatory Black Hole Puts Banks Off Deals
News  |  12/21/2012  | 
Regulatory uncertainty is putting large banks off buying the assets of smaller rivals, complicating the sector's restructuring and giving hedge funds and private equity a golden opportunity to swoop in.

JPMorgan Chase Buys Bloomspot to Expand Card Marketing
News  |  12/21/2012  | 
JPMorgan Chase & Co, one of the biggest card issuers and transaction processors, said it has bought Silicon Valley firm Bloomspot Inc to expand its consumer marketing programs for merchants.

Anti-Money Laundering: A Multi-Billion Dollar Problem
Commentary  |  12/21/2012  | 
It’s time for banks to get more serious about AML efforts.
All Roads Lead to Customer Satisfaction and Compliance in 2013
Commentary  |  12/20/2012  | 
Jim Washburn and Jojy Mathew of Capgemini Financial Services outline the IT initiatives that should be at the top of every bank's list in 2013.
The Top Challenges Facing Banking IT in 2013
News  |  12/20/2012  | 
As usual, bank IT department's will have much on their plates for 2013.
Fiserv and TOPS Software Make Payment Processing Easier for Property Managers
News  |  12/20/2012  | 
The two companies have partnered to help automate payments exceptions during payments processing for property managers.
ICE CEO Says Proposal to Buy NYSE 'Well Received' by Regulators
News  |  12/20/2012  | 
IntercontinentalExchange Inc's $8.2 billion proposal to acquire NYSE Euronext has been "well received" by regulators, ICE Chief Executive Jeffrey Sprecher said on Thursday.

Branches Remain A Key Channel
News  |  12/20/2012  | 
Banks that invest in the branch and provide a cutting-edge experience are ahead of the pack, says research firm RBR.
Bank Systems & Technology’s Top 10 Stories of 2012
News  |  12/19/2012  | 
2012 was an eventful year in banking technology, with the rise of mobile, increased regulatory pressure and multi-channel integration among the hot topics. Here are Bank Systems & Technology's most popular stories of the year.
Top Challenges Facing Financial Services in 2013
Commentary  |  12/19/2012  | 
The financial services industry is facing challenges on several fronts, many of them intertwined, as we enter the new year.
USAA Ranks First in Customer Satisfaction Study by ath Power Consulting
News  |  12/19/2012  | 
Banking customer satisfaction rose across the country according to the results of a recent nationwide customer experience study by ath Power Consulting, with USAA topping all banks for the third year running.
BofA CEO: Fed Wants Bank to Show Consistent Earnings
News  |  12/19/2012  | 
Bank of America Corp needs to show the U.S. Federal Reserve it can produce consistent earnings as part of the annual process to gain permission to return more capital to shareholders, CEO Brian Moynihan said in an interview.

Using Data and Analytics to Fight Fraud
Commentary  |  12/19/2012  | 
As financial institutions enhance the data they are willing to apply toward helping alleviate fraudulent activity, it could have a game-changing impact in the fight against fraud.
5 Ways Banks Can Provide The Human Touch for Customers
News  |  12/18/2012  | 
As banking becomes more digitized, customers still crave a human connection. Here's how to ensure a rewarding customer experience.
PayPal's President Weighs in On Payments Disruptions Coming in 2013
News  |  12/18/2012  | 
David Marcus, PayPal's president, offered up his predictions for the innovations to come in the payments in 2013 yesterday on PayPal's blog.
U.S. Agency Sues JPMorgan Over Mortgage Securities
News  |  12/18/2012  | 
The U.S. credit union regulator sued JPMorgan Securities and Bear Stearns & Co on Monday over $3.6 billion in mortgage securities the bank allegedly sold to credit unions that collapsed because of losses from the securities.

Europe to Miss Basel III Deadline After EU Talks Postponed
News  |  12/18/2012  | 
Europe will definitely fail to meet the globally-agreed January deadline for the implementation of tougher capital requirements for banks after European Union talks to agree the rules were postponed on Tuesday.

Internet Regulation Seen at National Level as Treaty Talks Fail
News  |  12/17/2012  | 
The world's major Internet companies, backed by U.S. policymakers, got much of what they wanted last week when many nations refused to sign a global telecommunications treaty that opponents feared could lead to greater government control over online content and communications.

Fiserv Launches New Mobile App for Consumer Loyalty Rewards
News  |  12/17/2012  | 
Fiserv's new mobile app for its UChoose Rewards product will enable banking customers to use their mobile devices to earn more loyalty rewards.
Bank of America Announces Enhancements to Benefits Online Program
News  |  12/17/2012  | 
The enhancements include a new online education center and redesigned home page.
Mobile RDC for Commercial Clients On the Horizon
News  |  12/14/2012  | 
While some banks are still catching up to offer mobile remote deposit capture for retail customers, some banks are already looking to offer it to commercial clients in early 2013.
PayPal Launches Prepaid Cards
News  |  12/14/2012  | 
PayPal released its first prepaid card yesterday, allowing users to easily load cash into their PayPal account as funds that can be used for online purchases.
Where is the ROI on Customer Experience in the Banking Industry?
Commentary  |  12/14/2012  | 
Nontraditional digital competitors raise the bar for banks when it comes to creating a great customer experience.
Cyber Attacks are a Constant Threat
Commentary  |  12/14/2012  | 
A new plot has emerged that could target U.S. banks in early 2013.
Barclays Loses Three Top Technology Bankers: Sources
News  |  12/14/2012  | 
Barclays Plc has lost three of its top technology investment bankers in New York this week to a rival, according to people familiar with the matter.

Bank of America Sues MBIA, Claiming Tender Offer Interference
News  |  12/14/2012  | 
Bank of America Corp has sued bond insurer MBIA Inc in a New York state court for allegedly interfering with a tender offer to buy MBIA's bonds.

USAA Develops Cross-Channel Capabilities to Improve Customer Experience
News  |  12/13/2012  | 
USAA's head of member experience, Wayne Peacock, discusses how to keep customers happy, provide a homogenous cross-channel experience and drive technological innovation with BS&T associate editor Bryan Yurcan.
2013 Forecast: The Hot Technologies That Will Define Banking
News  |  12/13/2012  | 
Cloud, digital payments and mobility will loom even larger in 2013, our panel of industry experts say.
Dwolla Offers Payments Via Twitter
News  |  12/13/2012  | 
The payments company is now allowing users to send payments via Twitter by including the recipients handle, the dollar amount and Dwolla's hashtag.
Europe Agrees To Make ECB Chief Euro Zone Watchdog for Banks
News  |  12/13/2012  | 
Eurozone finance ministers have agreed to make the European Central Bank the top regulatory supervisor for Eurozone banks.
Bank of America and the "Point-of-Sale Revolution"
News  |  12/13/2012  | 
With the release of Mobile Pay on Demand last month Bank of America is wading into the point-of-sale battle - a battle it believes it can win against the likes of Square and PayPal.
CFPB Examines Consumer Experience with Major Credit Reporting Agencies
News  |  12/13/2012  | 
The regulatory body looked at the three largest nationwide credit reporting companies: Equifax Information Services, LLC; Experian Information Solutions Inc.; and TransUnion LLC.
Consumers Say Smartphone Payments Will Replace Cash and Cards, Study Finds
News  |  12/12/2012  | 
In a new poll by Harris Interactive the majority of consumers said they believe smartphones will become the preferred payment method for most transactions in the future.
Barclays Names New Compliance Chief
News  |  12/12/2012  | 
Barclays has appointed Hector Sants, former boss of British regulator the Financial Services Authority, to oversee its compliance and relationship with governments and regulators as it looks to repair its battered reputation.

U.S. Economy Could Be 'Booming' With Fiscal Cliff Deal, Says JPMorgan's Dimon
News  |  12/12/2012  | 
The United States could have a "booming economy" in a couple of months if lawmakers in Washington reached an agreement to deal with the looming spending cuts and tax increases known as the fiscal cliff, JPMorgan Chase & Co CEO Jamie Dimon said.

It Takes Intelligence to Close the Identity and Access Management Gap
Commentary  |  12/12/2012  | 
Banks have been the Holy Grail for hackers, thieves and disgruntled ex-employees for centuries. Yet somehow, the security burden keeps growing.
Monitise Adds Mint to Its Mobile Money Platform for Banks
News  |  12/11/2012  | 
A new deal with Intuit Financial Services means that Monitise will offer banks the chance to incorporate Mint, a popular personal financial management service, into mobile banking apps.
JP Morgan No. 1 in U.S. Customer Survey, Rivals Fall Back
News  |  12/11/2012  | 
JPMorgan Chase & Co jumped to first in a U.S. customer satisfaction survey, as its three biggest rivals, including perennial leader Wells Fargo & Co , posted a decline in their scores.

Credit Unions Outperforming Community Banks in Mobile: Report
News  |  12/11/2012  | 
Javelin Strategy & Research finds that more credit unions offer mobile banking services than community banks.
HSBC to Pay Record $1.9 Billion Fine in Money Laundering Case
News  |  12/11/2012  | 
HSBC has agreed to pay a record $1.92 billion fine to settle a multi-year probe by U.S. prosecutors, who accused Europe's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash.

Good News -- And Room for Improvement -- About Banks' Customer Experience Efforts
News  |  12/10/2012  | 
Accenture's 2012 Global Consumer Survey finds that consumers give relatively high ratings to their banks' efforts to provide tailored experiences.
Apple and Samsung: A Defining Rivalry In A Changed Mobile Market
News  |  12/10/2012  | 
Android devices are on the rise, giving Samsung an edge over Apple in the global smartphone market despite a recent patent suit that Samsung lost to its U.S. rival.
2 for 1: Integrating Mobile Banking and Deposits
News  |  12/7/2012  | 
Simmons First combines mobile banking and mobile deposits to create one seamless customer interface with solutions by Jack Henry & Associates.
Deutsche Bank Directors to Question Board
News  |  12/7/2012  | 
Deutsche Bank's directors will question the management board over claims the lender failed to recognise billions of euros in unrealised losses during the financial crisis, two sources said.

Is Bitcoin Becoming a Bank?
Commentary  |  12/7/2012  | 
A European Bitcoin exchange says it has been granted payments service provider status by French officials.
The Core Systems Dilemma
News  |  12/7/2012  | 
Banks looking to upgrade or replace legacy core systems have a choice: Do it all at once or gradually. Many factors go into deciding which is better for a specific bank.
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