News & Commentary
Content posted in March 2013
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Can Your Bank Make the FATCA Deadline without Jeopardizing Your Business?
Commentary  |  3/29/2013  | 
Over the next month Bank Systems & Technology will run a series of articles from experts at Capgemini concerning the upcoming FATCA regulations. This article, the first in the series, explores five strategies to meet the FATCA deadlines without harming a bank’s business operations.
Commission Considers Good and Bad of British Banking
News  |  3/29/2013  | 
The Archbishop of Canterbury has spent the run up to Easter contemplating the ethics of the trading floor and ways to curb greed in the City of London.

Pride And Prejudice And Core Systems
Commentary  |  3/28/2013  | 
The course to a successful core systems modernization effort does not always run smooth. But this may have more to do with culture and communications than with technology.
Patient Cypriots Wait as Banks Reopen
News  |  3/28/2013  | 
Cypriots queued at banks as they reopened on Thursday under tight controls imposed on transactions, but there was no sign of a run on deposits that had been feared after the government was forced to accept a stringent EU rescue package.

How Banks Can Leverage Marketing and Analytics Platforms To Secure and Maintain Significant Marketing Budgets from Retailers
Commentary  |  3/28/2013  | 
Marketing offers for consumers based on transactional data gives banks an opportunity to draw revenue from retailer partnerships.
Banks Seek to Expand Presence in Canada, Says Canadian Finance Minister
News  |  3/28/2013  | 
Banks are lining up to expand their presence in Canada, and the government welcomes this as a way of fostering competition, Canadian Finance Minister Jim Flaherty said on Wednesday.

CFPB Makes Complaint Data Public
News  |  3/28/2013  | 
The database contains some 90,000 searchable complaints on mortgages, student loans, bank accounts and services, other consumer loans, and credit cards.
Popularity Helps Buffer Apple From Chinese State-Media Attacks
News  |  3/27/2013  | 
Chinese Internet users are crying foul over the perceived unfair treatment doled out to Apple Inc by state-run media which has actively criticised the smartphone maker for the past two weeks over its warranty policy.

FDIC Insurance Added to Bluebird Debit Program from American Express and Walmart
News  |  3/26/2013  | 
American Express and Walmart are adding new checking capabilities to their Bluebird debit joint program designed for unbanked consumers, which also now offers FDIC insurance for account holders.
Q&A: Core Systems Transformation Best Practices In A Changing Landscape
News  |  3/26/2013  | 
Marcia Wakeman, partner, and Chia-Hsin Chung, managing principal, of financial services IT consultancy Capco discuss trends they are seeing in core systems replacement efforts and the best practices to consider when undertaking a core transformation effort.
Canada's Top Six Banks to Get Capital Surcharge as of 2016
News  |  3/26/2013  | 
Canada's banking watchdog said on Tuesday it sees the country's six largest banks as being of systemic importance to the domestic economy and that it will make them keep 1 percent more capital on hand starting January 2016 to protect them from financial disruption.

Bank Closures Slow in Beginning of 2013 Compared to Last Year
News  |  3/26/2013  | 
Only four banks have closed so far in 2013 compared to 15 through the first three months of last year.
Basel Committee Proposes Cap to Halve Bank Exposures
News  |  3/26/2013  | 
A bank should limit its exposure to any other single bank at no more than 5 percent of its capital base to ensure it can stay in business if the other lender defaults, global regulators proposed on Tuesday.

RBS Rolls Out Mobile Chat For Business Customers
News  |  3/26/2013  | 
The service is designed give business clients quick access to agents while on the move.
Banks Beef Up Foreign Exchange Options Teams as Big Moves Boost Risk, Rewards
News  |  3/25/2013  | 
Banks are strengthening their foreign exchange options desks, investing in people and technology, as companies and hedge funds seek protection or profit from big moves in major currencies.

USAA and American Express Best In Credit Card Customer Experience, Survey Finds
News  |  3/25/2013  | 
The 2013 Temkin Experience Ratings announced today evaluated 10 major credit card issuers for customer experience, with American Express and USAA tied for the top spot.
The End of Indian IT Staffing as We Know It
News  |  3/25/2013  | 
India's IT outsourcers are promoting "mini CEOs" capable of running businesses on their own, while trimming down on the hordes of entry-level computer coders they normally hire as they try to squeeze more profits out of their staff.

The Future of Mobile at Bank of America
News  |  3/25/2013  | 
At Bank of America, mobile innovation is a key initiative in 2013 and beyond.
Basel Committee Cracks Down on Capital-Protection Ploy at Banks
News  |  3/22/2013  | 
Global regulators have proposed hefty charges to cancel out capital relief banks enjoy when buying pricey insurance to cover risky loans without acknowledging the cost in a timely way.

Temenos Acquires U.S. SAAS Core Banking Provider TriNovus
News  |  3/22/2013  | 
Swiss core banking vendor Temenos announced it is acquiring TriNovus to further its growth strategy in the U.S. to provide a SAAS version of its T24 core banking solution.
The Cyber Stick-Up – Making Sure Your Endpoints are Protected
Commentary  |  3/22/2013  | 
Today’s cybercriminals are much more effective than the masked robber holding up a teller; they’re very good at finding and exploiting an organization’s weakness and often even better at being able to get in and out of a computer network before an organization even knows what hit them.
The Next Generation of Video in Banking
Slideshows  |  3/21/2013  | 
Banks are using video in innovative ways that include both employee-facing and customer-facing applications. Experts discuss how video banking is evolving.
Mobile Commerce on the Rise in Asia/Pacific, Says MasterCard Survey
News  |  3/21/2013  | 
About 40% of online shoppers in Hong Kong, South Korea, and Singapore made a purchase with their phone in the past three months, according to poll.
The New Ecosystem for Mobile: Technology Alliances for M-Payments and M-Banking
Commentary  |  3/21/2013  | 
Should banks view other service providers in the mobile payments market as friends or foes?
European Central Bank Sets Deadline for Cyprus Bailout Deal
News  |  3/21/2013  | 
The European Central Bank set Cyprus a Monday deadline to agree a bailout plan, threatening to cut off funding to the islands' cash-strapped banks if a programme is not agreed by then with the EU and the IMF.

Eastern Europe’s Migration From Cash Brings Banks Opportunity
Commentary  |  3/20/2013  | 
Banks looking to increase their transaction revenue are well advised to consider the emerging markets of the Russian Federation and Eastern Europe.
Cyprus Denies Deal to Sell Cyprus Popular Bank
News  |  3/20/2013  | 
The Cypriot government denied on Wednesday that it had struck a deal to sell Cyprus Popular Bank to Russian investors as it tries to shore up its crippled banking sector.

Adaptation is Key for Banks to Succeed
News  |  3/20/2013  | 
A report from Equifax says that banks need to change how they define themselves internally and externally and adapt their mindset, operations, products and services to better meet customers’ evolving wants and needs.
Walmart Adds iPhone Scan-and-Checkout Feature to 12 More Markets
News  |  3/20/2013  | 
Walmart announced today that it is expanding a "scan and go" self-checkout initiative that uses Walmart's app for Apple devices, and plans to add Android devices as well.
How Banks Can Compete In the Mobile Shopping Market
News  |  3/19/2013  | 
By combining targeted coupon offers based on transactional data with a layered shopping experience that includes social media and gaming, banks can win big with mobile shopping apps, and position themselves for mobile wallet adoption.
FIS Looks Forward On Mobile
News  |  3/19/2013  | 
The financial technology provider's recent acquisition of mobile banking and payment solutions company mFoundry is part of a larger, long-term mobile strategy.
Senate Banking Panel Approves Obama's Choices for SEC, CFPB
News  |  3/19/2013  | 
A U.S. Senate panel on Tuesday voted 21 to 1 in favor of Mary Jo White to lead the U.S. Securities and Exchange Commission, moving her nomination to the full Senate for consideration.

Big Banks on Track to Meet Basel Capital Rules Ahead of Time
News  |  3/19/2013  | 
The world's top banks have made big strides towards meeting tougher capital rules several years before full compliance is required, global regulators said on Tuesday.

E-Signatures Deliver Savings and Efficiency for Royal Bank of Canada
News  |  3/18/2013  | 
RBC has used e-signatures to cut down on administrative tasks for its mobile retirement planners, saving time and costs in investment transactions.
Cyprus Tries to Rework Divisive Bank Tax
News  |  3/18/2013  | 
Cypriot ministers rushed on Monday to revise a plan to seize money from bank deposits as part of an EU bailout, in an effort to ensure lawmakers supported it in a vote later in the day.

IT Services Market Endures Dismal 2012
News  |  3/18/2013  | 
A report from research firm Ovum find that IT contract volume was down 18 percent in the financial services industry in 2012.
Top Quotes From BAI Payments Connect
Slideshows  |  3/15/2013  | 
Six quotes on fraud, mobile and all things payments from this past weeks' BAI Payments Connect conference.
JPMorgan Ignored Risks, Fought Regulators: Senate Report
News  |  3/15/2013  | 
JPMorgan Chase & Co ignored risks, misled investors, fought with regulators and tried to work around rules as it dealt with mushrooming losses in a derivatives portfolio, a Senate report alleged in a damning review of the largest U.S. bank's management.

Fed tells JPMorgan, Goldman to Improve Capital Plans
News  |  3/15/2013  | 
In a blow to two major Wall Street banks, the Federal Reserve told Goldman Sachs and JPMorgan Chase that they must fix flaws in how they determine capital payouts to shareholders, but still approved their plans for share buybacks and dividends. The Fed said JPMorgan and Goldman would have to submit new plans by the end of the third quarter. A senior central bank official declined to identify specific problems. In the second phase of the Fed's annual stress tests of the 18 largest U.S.
Proactively Adopting AML Best Practices Saves Money and Averts Government Headaches
Commentary  |  3/15/2013  | 
Most financial institutions have the same issue -- the AML department has more work than it does resources. How does a bank solve this?
An Enhanced Customer Experience Can Start with the Statement
Commentary  |  3/15/2013  | 
Leveraging technology to transform account statements into dynamic customer-centric relationship builders can improve customer experience.
PayPal Introduces Mobile Point of Sale Solution For iPad
News  |  3/14/2013  | 
PayPal launched an iPad version of its PayPal Here mobile mobile card reader solution that competes directly with Square’s card reader.
As Cyber Threats Build Against U.S., CEOs Ask For 'Light Touch'
News  |  3/14/2013  | 
Corporate leaders from the defense, technology, energy and banking industries told President Barack Obama on Wednesday they agreed cyber attacks were a top security threat but that they were looking for a "light touch" from the government in response to the risk.

UBS Chief Executive Paid $9 Million After Revamp
News  |  3/14/2013  | 
UBS drew fire on Thursday as it announced it paid CEO Sergio Ermotti almost $9 million in 2012 and welcomed a new investment bank chief with a $26 million package, just as the Swiss bank is in the process of firing 10,000 staff.

Banking Industry Proactively Developing Anti-Fraud Measures for Mobile
News  |  3/13/2013  | 
The industry, having experienced so many online attacks, is proactively developing strategies and solutions for mobile fraud – many of which have been on display at BAI Payments Connect.
State-Free Bank Safety Net Still Work in Progress: Regulators
News  |  3/13/2013  | 
Reforms to the world's financial system still fall short of ensuring that big and systemically important banks will not need to be bailed out by governments if they fail, regulators say.
Banking Supervisors May Seek to Simplify Capital Rules
News  |  3/12/2013  | 
Global banking regulators will examine whether their new rules forcing lenders to hold more capital to absorb any future losses should be simplified after criticism that they are too complex to be effective.

The Mobile Wallets Race: Placing Multiple Bets
News  |  3/12/2013  | 
Experts at BAI Payments Connect agree that several wallets will emerge successful from the mobile wallets race, and banks need to make multiple partnerships to stay ahead of the market.
Mobile Deposit Combines the Old and New in Bank Technology
Commentary  |  3/11/2013  | 
In every area of their business, financial institutions must find ways to provide more and better service while reducing operating costs -- mobile RDC does both.
Britain Urged to Split Banks if New Rules Fail
News  |  3/11/2013  | 
Britain should adopt legislation that could force all banks to split routine retail operations from riskier investment activities if new rules designed to protect taxpayers fail, an influential panel of lawmakers said.

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