News & Commentary
Content posted in February 2007
CAP Index Lands Large U.K. Bank for Crime Forecasting Product
News  |  2/26/2007  | 
Risk assessment tool from CAP Index designed to give companies better idea as to how they should allocate security resources.
New E-Discovery Rules Pose Challenges for Banks
News  |  2/26/2007  | 
Banks need to focus on putting policies in place to govern electronic information, say experts.
When the CIO becomes a political animal, then he/she is no better than the CIA in delivering integrity
News  |  2/26/2007  | 
By Art Gillis In adherence to my 2007 resolution to shorten my blogs, I offer this. The only tech guy I know who made a successful career of IT and politics is Frank Lautenberg, formerly CEO of ADP and now senator from New Jersey. But he didn't try to do both at one time. CIOs should call the shots based on what they know, the results of honest analysis, and their conviction that their recommendations are doable, not what the boss or special interest groups within the bank want to hear.
Google Business Apps Shows The Changing Battle For Workers' Desktops
News  |  2/23/2007  | 
Google, Microsoft, and IBM all want to be the point of entry to people's business lives.
Most Business Tech Pros Wary About Web 2.0 Tools in Business
News  |  2/23/2007  | 
'Enterprise 2.0' must overcome concerns about security and return to get a foothold in business, InformationWeek Research Finds.
North Shore Credit Union Improves Service and Cut Costs by Eliminating Paper-Based Products
News  |  2/22/2007  | 
NSCU streamlines customer relationship management and cuts costs with FileNet platform.
Corporate One Federal Credit Union Decides to Institute a More Proactive Risk-Management Strategy
News  |  2/22/2007  | 
Corporate One Federal Credit Union improves performance with LogicManager's ERM system.
Massachusetts Bill Would Make Businesses Pay For Poor Data Security
News  |  2/22/2007  | 
Slipups like the ones at T.J. Maxx and Stop & Shop stores could force companies to pay to cancel or reissue cards, stop payments or block transactions, if the legislation passes.
Business Intelligence Making Headway in Banks’ Profitability Efforts
News  |  2/21/2007  | 
BI solutions are evolving to integrate more tightly with banking applications -- thus helping banks to maximize IT investments as well as drive improved performance.
Web Watch
News  |  2/21/2007  | 
Don't Overlook the Vendor's CFO; Techno-Complexity; The Depersonalization of Customers
BB&T Kicks Off Visa Contactless Card Pilot Program
News  |  2/21/2007  | 
BB&T kicks off Visa contactless card pilot program.
News  |  2/21/2007  | 
Metavante Automates Loan Origination; Norkom Measures Customer Risk; McAfee Solution Prevents Data Loss
Spillenkothen Joins Deloitte’s Banking Regulatory Practice
News  |  2/21/2007  | 
Banks need to take a big-picture look at compliance efforts, says Deloitte's new head of FS regulatory consulting.
To Keep Consumer Trust, Try Tokens and Smart Cards
News  |  2/21/2007  | 
To keep consumers' trust and keep them banking online, try tokens and smart cards, analysts say.
New BOC Rules to Offer Further Payments Processing Efficiencies
News  |  2/21/2007  | 
What should banks expect once the rules for back-office conversion are enacted?
Banks Move Away From Card-Based Transactions
News  |  2/21/2007  | 
Rewards programs help deepen banking relationships.
Executive News
News  |  2/21/2007  | 
The Technology Implications of Citigroup’s Egg Deal
News  |  2/21/2007  | 
Citigroup's acquisition of Egg raises technology questions.
Report Shows Diversity in Check-Image Archives at Major Banks’ Web Sites
News  |  2/21/2007  | 
Online check-image archives can help adoption of e-statements.
Big Deals
News  |  2/21/2007  | 
JPMorgan Chase Acquires Assets of Healthcare Remittance Provider
News  |  2/21/2007  | 
JPMorgan Chase eyes healthcare value chain with FisaCure acquisition.
B-to-B Payments Still Relies Heavily on Paper
News  |  2/21/2007  | 
The lack of standards is slowing adoption of e-payments, but banks can help by adding value to the financial supply chain.
Vendor Podcast: Today's Business Needs & Industry Drivers for Investment & Capital Market Firms - A conversation with Oracle's Senior Director of Industry & Strategy.
News  |  2/21/2007  | 
BS&T recently had an opportunity to speak with Ed Garry, Oracle's Senior Director of Industry Strategy and Marketing for Capital Markets. Our conversation focused on areas where Oracle's customers are facing challenges as their business evolves and shareholder demand increases. Learn how business drivers such as risk and compliance, customer centricity and the continuous need to reduce operational costs and increase efficiencies are achieved and leveraged in ways that support a business model
CheckFree to Purchase Corillian in Bid to Expand Offerings to Banks
News  |  2/20/2007  | 
CheckFree/Corillian deal is just one more example of consolidation in bank tech space, say experts.
Fair Isaac Names Veteran IBM Business Strategist, Mark Greene, as Its New CEO
News  |  2/20/2007  | 
Fair Isaac taps IBM VP of sales and distribution for financial services, Dr. Mark N. Greene, for its new chief executive officer.
TransPay Briefs
News  |  2/20/2007  | 
News from Metavante, Alogent, Kodak, Carreker and LendingTools.
Data Center Electricity Bills Double
News  |  2/16/2007  | 
A jump in the number of servers accounts for 90% of the additional power consumption, according to a study by Stanford's Jonathan Koomey. Power use per unit rises only slightly.
International Gang Nabbed In $300K Online Banking Heist
News  |  2/16/2007  | 
Turkish police arrested 17 gang members who allegedly worked with three Russian hackers to break into and raid online bank accounts.
Catherine Allen to Depart BITS
News  |  2/13/2007  | 
Long-time BITS CEO Allen to leave role, but not financial services, to devote time to The Santa Fe Group consultancy.
Credit Suisse Outsources to BT in Deal Worth $1.1 Billion
News  |  2/13/2007  | 
The bank says the deal will let it access state-of-the-art telecom technologies more effectively.
Data security at my bank was a major issue even in the 1960s
News  |  2/12/2007  | 
By Art Gillis Long before IT developed into a distributed architecture, the idea of protecting the bank's data was rather simple. Lock down the computer center. The idea was probably based on an old banking rule. Put the cash in the vault every night. My bank took it a step further and buried the "vault." That's right, our computer center was under an apple orchard located about 20 miles from downtown Providence. The data center was indeed impressive. Enough food for 30 days, showers to
House Committee Zeroes in on Data Privacy
News  |  2/9/2007  | 
A batch of proposals would protect personal information and strengthen consumer privacy, the bipartisan congressional authors suggest.
Don't overlook the vendor's CFO when shopping for tech solutions.
News  |  2/7/2007  | 
By Art Gillis Every bank tech salesperson will yes you to death. The CFO is well versed at saying "NO." He says no to his own people as well, like when a salesperson is working on a big deal and wants to slash the price just to get the sale. Over the years, I have had the pleasure of meeting several CFOs at the major bank tech companies. Fiserv has had one who has served from Day One and retired recently. When I was called in as an independent voice during a due diligence meeting, I made
Check ACH Coalition Halts Activity, for Now
News  |  2/6/2007  | 
Coalition will continue to seek new means for processing checks via ACH.
NACHA Institutes New Fees for ACH Network Use
News  |  2/6/2007  | 
Monies from transaction fees and annual usage fees will be used to further enhance and maintain the ACH network, says association.
Data Security Firms Establish PCI Security Vendor Alliance
News  |  2/6/2007  | 
Organization aims to develop, raise awareness of payment card standards.
To Keep Consumer Trust, Try Tokens And Smart Cards
News  |  2/2/2007  | 
Customers turn their backs on Internet banking if they perceive that identity theft and other types of online fraud are a threat, analysts suggest.


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