News & Commentary
Content posted in March 2003
Trade Finance Software May Help Fight Bioterror
News  |  3/31/2003  | 
Just as the banking industry has taken important steps to meet the anti-money laundering and anti-terrorism challenges of the USA PATRIOT Act, the food industry will have to protect its critical infrastructure in accordance with the Bioterrorism Act of 2002. Given the immense logistical challenges involved with managing the global supply chain for agricultural products, banks may find themselves playing an important role in the process.
Credit Union Outsources Network Security
News  |  3/31/2003  | 
Security managers are faced with a constant stream of viruses, security vulnerability alerts, and software patches to fix software vulnerabilities. The problem is especially acute for medium-sized businesses like Heritage Trust, which has just 10 IT managers to manage IT at 12 branches.
Uncovering Diaries of Terror
News  |  3/31/2003  | 
The cost of turning a blind eye to laundered funds has included the arming of Iraq and September 11th, said the general counsel of the U.S. Treasury in an address to the Securities Industry Association. A must-read for everyone in the financial services industry.
Middle Management
News  |  3/26/2003  | 
April can only mean one thing-the start of major-league baseball.
Viewpointe and SVPCo Join Forces On Check Imaging
News  |  3/26/2003  | 
Two industry ventures are cooperating to bring the processing of paper checks into the 21st century.
Amex Blue Protects Customer IDs
News  |  3/26/2003  | 
ID Keeper, a new service from American Express, has introduced software that turns its smart card into a special-purpose storage device.
Bank One Inks Processing Deal
News  |  3/26/2003  | 
Bank One has tapped TSYS to take over its credit card processing from First Data Corp.
Most Americans Making Minimum Payments
News  |  3/26/2003  | 
Americans are sliding deeper into credit card debt, according to the Cambridge Consumer Credit Index.
Bank Bytes
News  |  3/26/2003  | 
Chattahoochee National Bank; EastPoint Technologies; U.S. Bank; AcuPrint Technology
TD Taps Fiserv Service for U.K. Subsidiary
News  |  3/26/2003  | 
TD Waterhouse has opened its United Kingdom bank with an old, reliable partner, Fiserv.
Italian Bank Rolls Out SunGard Trading System
News  |  3/26/2003  | 
Italy's Cassa di Risparmio di Firenze (Carifirenze) has gone live with Panorama, a trading system from SunGard, after a three month installation process
Arabic-English Voice Service Is Introduced
News  |  3/26/2003  | 
The largest private bank in the United Arab Emirates, Mashreqbank, has introduced an interactive voice response service in both Arabic and English.
Zurich Kantonalbank Installs Siebel Software
News  |  3/26/2003  | 
In recent years, Zurich Kantonalbank became Switzerland's third-largest bank, controlling more than half the market in Zurich.
World Briefs
News  |  3/26/2003  | 
Aktia Savings Bank; SunGard Trading and Risk Systems; Bank of Finland; Trema
Institution Waves Aloha to Core Costs
News  |  3/26/2003  | 
Bank of Hawaii's seven-year technology services agreement with Metavante promises hefty savings.
Bank Installs Multistate Voice System
News  |  3/26/2003  | 
Peoples Bank, Marietta, Ohio, is committed to hometown banking.
Manufacturers Bank Taps S1
News  |  3/26/2003  | 
Manufacturers Bank has licensed business banking and account aggregation software from S1.
JPMorgan Launches Euro Processing System
News  |  3/26/2003  | 
JPMorgan Treasury Services has introduced a euro bank-to-bank reimbursement processing system in its Bournemouth, U.K. operations center.
Maine Bank Opts For Open Solutions
News  |  3/26/2003  | 
Kennebec Savings Bank focuses on providing personalized banking service to support individuals, self-employed professionals and small-to medium-sized businesses.
Liberty Bank To Install Imaging Platform
News  |  3/26/2003  | 
Liberty Bank, Middletown, Conn., will install an all-image platform, offering online access to paper check images at every stage of item processing.
Wisconsin Bank Scores Big Lending Gains
News  |  3/26/2003  | 
In the two years it's been using Arta Lending from Bankers Systems, Oostburg State Bank, Oostburg, Wis., has streamlined and enhanced its loan origination workflow.
Network-Boosting Device Speeds Data At Bank
News  |  3/26/2003  | 
A proliferation of networked applications, such as e-mail, CRM and thin-clients, is causing organizations to seek inexpensive ways to boost network capacity.
Getting Even
News  |  3/26/2003  | 
Banks use improved CRM, data mining and automation tools to unify and empower salespeople across all customer channels
Grand Theft Auto Finance
News  |  3/26/2003  | 
As Internet-based lenders capture a growing share of the auto financing marketplace, traditional players fight back with online offerings of their own
End Of The Line
News  |  3/26/2003  | 
As more retailers offer electronic check conversion, or ECC, the payments industry is anticipating a windfall of savings.
First American Standardizes on EMC Storage
News  |  3/26/2003  | 
As banks network more of their applications and handle increasing amounts of information, they are faced with managing a proliferating IT infrastructure.
BankAtlantic Opens Business Portal
News  |  3/26/2003  | 
By integrating its cash management service with its image statement provider, BankAtlantic has created a portal through which business customers can view images of checks.
Calif. Bank Chooses Mitek System
News  |  3/26/2003  | 
Mid-State Bank & Trust has licensed the CheckQuest check imaging and CaptureQuest document management solutions from Mitek Systems.
Teller System Speeds Transactions
News  |  3/26/2003  | 
Wausau Financial Systems and MORE, Inc. have jointly implemented Optima3 TellerProof.
Community Appeal
News  |  3/26/2003  | 
C. R. (Rusty) Cloutier has been president and CEO of MidSouth Bank, Lafayette, La., since he started the institution de novo over 18 years ago.
The Incredible Shrinking Federal Reserve
News  |  3/24/2003  | 
In February, the Federal Reserve announced that it would reduce its number of bank check-processing sites from 45 to 32 and the number of check-adjustment sites from 43 to 12. Can the consolidated Federal Reserve centers handle the increased processing burden?
Unite And Conquer
News  |  3/24/2003  | 
Financial services firms have had lots of practice at integration; here's what some of the biggest have learned from their mergers.
The Evolution of Consumer Payments--The Future Merchant and the Rise of ISO 14443
News  |  3/24/2003  | 
The consumer payments industry is facing an important long-term shift, as electronic payments displace paper and the mix of electronic consumer payment volumes globally shifts further towards debit and away from credit.
U.S. Bank's PowerTrack Smokes EIPP Competition
News  |  3/19/2003  | 
With companies showing an increasing propensity for online purchases, banks are scouring the e-commerce terrain for new sources of revenue.
A Decade Makes The Difference For UBOC Mortgage
News  |  3/19/2003  | 
When Ken Palla was responsible for the loan origination department at North American Mortgage Co., several envisioned business process improvements remained tantalizingly out of reach.
Automated Storage Key To Resilient Payment Systems
News  |  3/19/2003  | 
While certainly not a new initiative, electronification has been gaining momentum following the severe liquidity and payment flow challenges since September 11, 2001.
Brokedown Palace
News  |  3/19/2003  | 
Should society allow some of its members to settle their financial obligations using legal proceedings rather than legal tender?
Contributed article: Making the Grade with e-Learning
News  |  3/17/2003  | 
The Credit Union National Association (CUNA) -- a Wisconsin-based, not-for-profit trade association serving America's credit unions -- plans to use e-learning to train approximately 10,000 credit unions on aspects of the USA PATRIOT Act.
JPMorgan Chase Seeks To Triumph with ARC
News  |  3/17/2003  | 
JPMorgan Chase, in conjunction with J&B Software, Blue Bell, Pa., has established a firm foothold in the market for accounts receivable check conversion (ARC) solution at retail lockbox providers.
A Financial Giant Builds Content-Rich Services
News  |  3/17/2003  | 
Merrill Lynch plans to roll out its Content Publishing Management System, for producing all print and electronic products, throughout the company by this spring.
The Ever-Changing World of Credit Card Fraud
News  |  3/17/2003  | 
Several industry attempts to prevent card fraud have succeeded, but unfortunately criminal schemes continue to evolve, adapting to the new security measures and attacking new areas of weakness.
Bank One Takes Control of Card Processing
News  |  3/7/2003  | 
In an example of its in-sourcing strategy, Bank One's card services division has selected TSYS to take over its credit card processing from First Data Corporation.
KeyCorp Invests In Real Time
News  |  3/7/2003  | 
Cleveland-based KeyCorp has worked since 1997 to supply up-to-date, synchronized information via multiple channels to individuals and corporate clients, regardless of their location.
Revisiting Online Document Delivery’s Inexorable Rise
News  |  3/7/2003  | 
Document imaging and statement suppression have become priorities for the online banking services of Wells Fargo, Key Bank, Chase, and others.


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