News & Commentary
Content posted in April 2002
A Wealth Of Opportunity
News  |  4/29/2002  | 
Clean data will open the doors for cross selling in financial services.
Good Data Unlocks Convergence Opportunities
News  |  4/29/2002  | 
Clean data will open the doors for cross selling in financial services.
A Convergence in Progress
News  |  4/29/2002  | 
The two-year convergence plan bringing J.P. Morgan and Chase together.
New Thinking on Convergence
News  |  4/29/2002  | 
Convergence is moving ahead, though more slowly than expected by some.
ACH Network Volume Surpasses One Billion Payments
News  |  4/19/2002  | 
The number of payment transactions processed by the Automated Clearing House (ACH) Network exceeded one billion in 2001, a new record according to executives at a recent NACHA conference.
Three Banks Join Visa POS Check Service
News  |  4/19/2002  | 
Bank of America, SouthTrust Bank and State Employees Credit Union will launch the Visa check acceptance system, called Visa POS Check Service, which could significantly reduce paper check handling and fraud costs.
First Data Offers Internet-Based Processing
News  |  4/19/2002  | 
First Data will use an Internet-based transaction delivery network from Datawire Communication Networks to provide its customers with lower telecom costs, faster processing ability and a greater number of options.
Big Banks Flex Online Muscle
News  |  4/19/2002  | 
Gomez's most recent Banking Scorecard, which measures the quality of e-commerce offerings, reveals that many institutions are investing in functionality and customer service initiatives that demonstrate a better understanding of online customers' needs and behavior patterns.
Executive Update
News  |  4/19/2002  | 
Ed Mollahan of J.P. Morgan Investor Services appointed to the Private Equity Standards Board; Thomas Makmann named president and chief executive officer of Network Storage Solutions; James E. Rohr of PNC Financial Services Group selected chairman of the board for BITS, the Technology Group for The Financial Services Roundtable.
International Bytes
News  |  4/19/2002  | 
Deutscher Sparkassen Verlag to install the ANDiS card and application management system from Bell ID; Close Brothers (Cayman) Limited merchant bank selects automated accounting and administration system from Global Investment Systems (GIS); Goldfish Bank Limited engages Sanchez Computer Associates to provide custom development and support services for a new banking products.
North America Bytes
News  |  4/19/2002  | 
Victory Capital Management selects BISYS to support its private labeled Individual(k) retirement plan; Whitaker Bank Corporation of Kentucky implements a core processing solution from Precision Computer Systems; VirtualBank selects a workflow product from Ultimus to enhance internal efficiency and productivity.
Association/Trade Show Update
News  |  4/19/2002  | 
Pocket PC Summit, the only conference and exposition dedicated exclusively to the Pocket PC platform, will take place this May in Philadelphia; U.S. Bank joins NACHA; BAI's TransPay 2002, a multi-faceted transaction processing and payments conference, will take place this May at the Anaheim Convention Center in Anaheim, Calif.
SunTrust Gives Password Power to its People
News  |  4/8/2002  | 
It isn't unusual for the corporate help desk at SunTrust Banks to field 2,000 phone calls per month from users requesting assistance with their network passwords.
Banks Get Smart About Computer Chip Cards
News  |  4/8/2002  | 
Chip-based smart cards are beginning to make a run at magnetic stripe cards, industry observers say.
Wealth Professionals
News  |  4/8/2002  | 
State Street Bank stakes out a strong market position with sophisticated investors by providing specialized offerings including custody, operations outsourcing and information services.
SPECIAL SECTION
News  |  4/8/2002  | 
NACHA publishes guidelines that define the benefits to businesses of integrating accounts payable operations with EIPP systems.
EIPP: A Win-Win Proposition
News  |  4/8/2002  | 
EIPP services-an effective, affordable, Internet-based alternative to EDI-is a bold step toward paperless B2B invoicing.
New System Flies at American Airlines CU
News  |  4/8/2002  | 
AAFCU implements Digital Insight's Axis Internet banking and bill payment system to provide enhanced online services to its membership.
First Virginia First in Bill Presentment
News  |  4/8/2002  | 
First Virginia Banks becomes the first to offer its customers bill presentment via the MasterCard RPPS network.
Weighing the Options
News  |  4/8/2002  | 
Banks measure the viability of using outsourcing to control electronic bill-pay costs.
Automatic Transmission
News  |  4/8/2002  | 
Car dealers and lenders install Internet-compatible decisioning systems to speed the credit approval process.
The Big Picture
News  |  4/8/2002  | 
Account aggregation is maturing, but is it a solution in search of a problem?
N.J.-based Bank Taps ASP Solution
News  |  4/8/2002  | 
When Roma Federal Savings Bank went looking for a core processing provider, the short list of requirements included a high-tech ASP environment, support for real-time transactions, and state-of-the-art reporting for building customer relationships.
Credit Union Looks to Prosper from CRM
News  |  4/8/2002  | 
Westminster Savings Credit Union looks down under for a much needed sales-contact management solution.
S1's Zeus Inspires Liberty Bank
News  |  4/8/2002  | 
Liberty Bank extends its relationship with S1 to include the Zeus teller, sales and service, call center, and CRM delivery solutions.
California Federal Renews ATM Servicing Contract
News  |  4/8/2002  | 
California Federal agrees to a three-year extension of its ATM servicing agreement with Genpass.
Ohio Savings Taps Outsourcer
News  |  4/8/2002  | 
Ohio Savings Bank makes Online Resources its single-source provider of Internet banking and bill payment services.
D.C. Bank Chooses Magnet System
News  |  4/8/2002  | 
Business customers of Riggs Bank will soon find that managing their accounts is easier and more efficient.
Union Bank of California Updates Pay System
News  |  4/8/2002  | 
When Newton announced it was changing its technology to run on a different server, Union Bank of California had to decide whether to keep its existing platform and switch suppliers, or invest in new hardware and stick with IntraNet.
World Briefs
News  |  4/8/2002  | 
Citibank deploys Flexcube; BMCE Bank licenses mobile e-commerce software from 724 Solutions; Unibanco licenses PayWare eIssuer.
Reserve Bank of India Building RTGS System
News  |  4/8/2002  | 
Reserve Bank of India launches a project to construct a RTGS.
Shinsei Bank Gains New Life Using i-flex
News  |  4/8/2002  | 
i-flex solutions grows to encompass wholesale and retail banking solutions for back office, Internet banking and business intelligence, and offers consulting and custom software development services to banks worldwide.
eSecurity Spending To Rise In 2002
News  |  4/8/2002  | 
Despite the slumping economy, security and disaster recovery spending will rise in 2002 due to a heightened sensitivity to IT security post-September 11.
New Initiatives Must Pass ROI Test
News  |  4/8/2002  | 
Large financial institutions are reexamining their IT spending initiatives, leading to project resizing or reallocation of resources.
Banks Need to Pay More Attention To Privacy
News  |  4/8/2002  | 
Many banks view privacy as primarily a regulatory problem rather than a strategic one. That may come back to haunt them, say industry experts.
Bank Bytes
News  |  4/8/2002  | 
First of Omaha Merchant Processing, taps OneBridge Mobile Server to provide mobile access to its sales force automation system.
Banks Crack Down On Terror Funds
News  |  4/8/2002  | 
Bankers and regulators at a recent BAFT conference debated the strategic issues facing the industry in the new regulatory and economic environment for global financial institutions.
Regulatory Blues
News  |  4/8/2002  | 
Bankers now face prepping their institutions for the new regulatory, risk and security issues stemming from the tragic events of September 11.
NYCH's Neubert to Industry: We're Not In the Clear When It Comes To Terrorism
News  |  4/5/2002  | 
New York Clearing House president and CEO Jeffrey Neubert believes it will take an "unrelenting" effort from banks to ensure the financial system remains free of terrorist infiltration.
Banks Need To Eye Security When Considering Outsourcing
News  |  4/5/2002  | 
Although a bank can seek outside expertise and guidance, bankers themselves are responsible for securing their informational and monetary assets, according to Marshall Millsap of J.P. Morgan Chase.
Huntington Bancshares Upgrades Its Online Banking Technology
News  |  4/5/2002  | 
Huntington Bancshares, with the help of Corillian and eBank, makes Internet banking easier and more reliable for its customers.
Abbey National Taps Business Strategy Software From Fair, Isaac
News  |  4/5/2002  | 
Abbey National will use Fair, Isaac's Decision System application to improve customer satisfaction, service and profitability.
Executive Changes
News  |  4/5/2002  | 
Alex W. "Pete" Hart joins the advisory board of Payment Partners; Paul Bourke named CEO of Aurum Technology; Victor J. Menezes appointed chairman of the board for The New York Clearing House.
International Bytes
News  |  4/5/2002  | 
Merrill Lynch and Ocwen Financial Corporation form international asset management servicing company for distressed businesses; FinancialOxygen launches a new online exchange for Fed Funds and Eurodollar trading; GSTP AG to launch its global straight-through processing network in September 2002.
North America Bytes
News  |  4/5/2002  | 
J.P. Morgan Chase Bank licenses custom-designed Web-based tools for collateralized debt obligation from RiskMetrics Group; Heritage Bank of St. Joseph selects a Windows-based teller system from National Source One; Republic Bank implements channel enhancement application from S1; Truliant Federal Credit Union to install Web-based e-procurement and asset management applications from Verian Technologies.
Association/Trade Show Update
News  |  4/5/2002  | 
The second annual Arab Banking Technology Conference to take place in Dubai on April 22-24, 2002; SWIFT and Global Crossing restructure agreement.


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