News & Commentary
Content posted in March 2009
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Not All "Banksters," Huntington Exec Shows
News  |  3/30/2009  | 
In banking's darkest hour bankers on the far side of The Pond have collectively been tarnished with the derisory term "bankster."
A New Concept for All Customer Service Departments: It's Not Business-It's Personal
News  |  3/30/2009  | 
It seems the gods were on my side last week. I have been known to gripe a lot about things that don't work. Now I'm singing the praises of Corporate America, but not AIG, Investment Banks, and Madoffian Terrors. This is about the customer service reps who work for Corporate America. They take a personal interest in their work as well as their "clients."
The Importance of Technology in Managing an FI's Liquidity
News  |  3/30/2009  | 
Technology is becoming increasingly important to financial institutions to assist them with managing and maximizing their liquidity. Once a minor element of risk execution, liquidity management has evolved-especially as regulators, policymakers and lawmakers have dealt with the current financial crisis to concentrate on market, credit and operational risks.
The Latest Offshoring Destination? The Seychelles
News  |  3/27/2009  | 
The tiny nation, bankrupted by the crisis, is turning from tourism to tech possibilities.
Nokia Stakes Claim on Obopay
News  |  3/27/2009  | 
Cell phone giant invests in P-to-P provider, as banks, telcos rush to own mobile payments.
Online Statement Centers: Kicking the Paper Habit
News  |  3/26/2009  | 
A recent Bank Monitor report looked at online statements, the most important aspect of the paperless experience, and found that 85% of firms we reviewed now offer online statements that replicate their paper siblings.
Geither Calls for "New Rules" with Insurers, Hedge Funds to be Regulated
News  |  3/26/2009  | 
Critics question government's 'power grab,' as Treasury Secretary says far more regulation needed.
Resignation by Op-Ed; AIG Bonus Recipient Bows Out
News  |  3/25/2009  | 
It's kind of like "J'Accuse" in reverse. Instead of a writer using a newspaper to challenge the Establishment, as émile Zola famously did in Paris in 1898, we have today a bonus recipient from AIG using The New York Times' Op-Ed column to publicly resign and as a forum to criticize AIG's CEO, Edward Liddy, and the bonus payments generally as "distasteful."
Huntington Punches Above Its Weight Online
News  |  3/25/2009  | 
Huntington Bancshares site ranked sixth in Keynote Systems latest Banker Scorecard.
Anger Toward Banks May Be Warranted, But Don't Lose Sight of Bigger Picture
News  |  3/25/2009  | 
"We're in a government-dependent financial system," said Paul Volcker, former Federal Reserve chairman, adding, "I never thought I'd see the day."
Don't Sweat Small Bonuses, Citizens Told. Small or Symptomatic?
News  |  3/24/2009  | 
Some recent commentators have reminded those now frothing over bonus payments that the bonuses paid are small in the scheme of things. Today, WNYC radio host Brian Lehrer noted that "no fewer than four"
A Good Thing About the Current Bank Tech Industry-Entrepreneurs Are Back
News  |  3/24/2009  | 
Section 3 of Automation in Banking has always been reserved for something new and different. But it is always about banking and technology. For the 2009 Edition, I opened the door wide and invited all kinds of people to express themselves to my readers. You heard of "15 minutes of fame?" My people had 15 minutes to vent. And it was exciting for this old coot who thought he had seen and heard it all.
LBBW Universally Deploys Vasco Tokens for Online Log-Ins
News  |  3/23/2009  | 
German giant picks DIGIPASS tokens over password lists, or TANs.
Irish Bank Tech Vendors Report Rising Revenues
News  |  3/23/2009  | 
Ireland's financial technology providers sell almost exclusively outside of the country, which is facing a more intense financial crisis than most of the E.U.
Lippert Leaves Citi Eight Months Into CIO Job; Little Surprise Expressed
News  |  3/23/2009  | 
Wunderkind Marty Lippert is gone from Citi "for personal reasons," according to a Citi memo announcing the immediate departure of the ailing bank's CIO. The memo, reprinted a few days ago on the Website of CIO magazine, was not the subject of an official press release.
Using the Tax Code to Punish the 'Wicked'
News  |  3/23/2009  | 
Maybe there is a voice of reason in Washington after all. Pres. Obama has made it clear that he does not think the proposal by the House of Representatives to tax the bonuses of bank executives at institutions receiving more than $5 billion in bailout money at 90 percent is constructive lawmaking.
Treasury Secretary Dimon?
News  |  3/20/2009  | 
A column on Bloomberg.com paints an interesting picture of a future without Tim Geithner as head of the Treasury. Columnist David Reilly seems to think all signs are pointing to J.P. Morgan Chase's CEO Jamie Dimon as the most logical successor to Geithner, assuming the current treasury secretary is ousted-which he just might be, considering the heat he has gotten over the AIG bonuses and aspects of the bank bailout.
Best Practices for Integrating Disparate ATM Networks Post Merger
News  |  3/20/2009  | 
During Q3-Q4 2008, the financial services industry witnessed a level of M&A activity not seen in almost two decades. Within the last six months, four of the top five financial institutions have merged and predictions for 2009 indicate a continuation of this trend. As the FDIC watch list grows, many banks are looking to absorb smaller, weaker banks through acquisition. Once the move has been made and the ink on the contracts dries, bank executives are faced with the practical reality of coupling
In Wake of AIG, Obama Calls for More Authority Over Financial Services
News  |  3/20/2009  | 
Pres. Obama is seeking more "tools" to keep the financial systems out of trouble.
A Bonus of Contention to be Taxed at 90 Percent
News  |  3/19/2009  | 
The House reacted Thursday to corporate culture that continues to act as if this crisis never occurred by voting decisively to slap 90 percent tax on bonuses received by executives of companies bailed out by the taxpayer.
State Bank of Hamburg Picks Goldleaf’s Net.Check for Imaging
News  |  3/19/2009  | 
Centenarian community bank says imaging is part of "radical" IT overhaul.
AIG Uproar Sees Spitzer Weigh In
News  |  3/18/2009  | 
AIG's $200b bailout should go neither to banks, nor bonuses, says former NY governor.
IBM In Talks to Buy Sun
News  |  3/18/2009  | 
U.S. Treasury Adopts Open Source Strategy to Drive Electronic Tax Payments
News  |  3/17/2009  | 
A free, real-time Web services interface for the Department of the Treasury's Electronic Federal Tax Payment System promises operational cost savings for banks.
When Irish Eyes Are Not Smiling; A Subdued St. Paddy's Day
News  |  3/17/2009  | 
The banking crisis in Ireland, the subject of BS&T's lead story right now, is being heavily featured on public radio this St. Patrick's Day, when Irish eyes aren't smiling so much.
Equifax Takes Income Verification for Borrowers Further
News  |  3/16/2009  | 
In a time of defaults, lenders welcome confirmation of debtors' income from the IRS, credit reporting bureau Equifax says.
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