News & Commentary
Content posted in April 2006
Phishing Leaps to Next Level With VoIP
News  |  4/25/2006  | 
The recipient is asked to dial a telephone number to talk with a "bank representative," but then is asked to leave personal information on an answering machine. It's the first time VoIP has been used in this fashion, a security vendor says.
Report: Americans’ Mobile Phones Becoming Transaction Devices
News  |  4/25/2006  | 
Researcher In-Stat is convinced that U.S. consumers will get over their most frequently mentioned barrier to the mobile wallet--added fees for its use--as well as security concerns about loss of the phone and privacy.
The Three Factors for a Successful Online Banking Site
News  |  4/25/2006  | 
Comprehensive studies provide insight into banks' best practices on the Web.
RSA Acquires Financial Services Startup
News  |  4/24/2006  | 
RSA Security snaps up a software-based authentication vendor that focuses on the financial services industry.
News  |  4/20/2006  | 
Investment bank's chief of operations and technology chooses to retire from "best job in the world."
May I have the envelope please? And the top five winners are.........
News  |  4/19/2006  | 
By Art Gillis 1. Digital Insight 112% 2. Online Resources Corp. 58% 3. Open Solutions Inc. 54% 4. ACI Worldwide 39% 5. CheckFree 37% This is the only game I play in the 400+ pages of my annual research report, Automation in Banking - 2006. Because there are 24 public companies profiled out of 108 bank tech vendors, I like to show the performance of those companies in terms of the price of their stock. The period is tax day 2005 to tax day 2006. E
Report: Americans’ Mobile Phones Becoming Transaction Devices
News  |  4/19/2006  | 
Researcher In-Stat is convinced that U.S. consumers will get over their most frequently mentioned barrier to the mobile wallet--added fees for its use--as well as security concerns about loss of the phone and privacy.
Industry Doubles Efforts to Encourage E-Payments
News  |  4/18/2006  | 
May is declared Direct Deposit and Direct Payments Month
Do your spring cleaning, turn the soil, check your wellness, and give your technology a stress test
News  |  4/18/2006  | 
By Art Gillis OK, folks, I'm not your mother, gardener, doctor or your conscience. It's just that spring is a great time to wake up and enjoy your life more. "Waking up" means you have to do tasks you hate to perform. And "enjoying your life more" means you'll be glad you did it. For me, the tough one is spring cleaning at the office, but I do it because I get a huge return for my effort. I must say it a dozen times. "Damn, so this is where I put it." Here's one example. Years ago, I cr
Outsourcing Contracts Up, But Savings Questioned
News  |  4/13/2006  | 
The total value of all large contracts signed in the first quarter of 2006 increased 173% year-over-year to $22.7 billion, but companies aren't saving as much as expected.
FS Web sites Falling Behind
News  |  4/11/2006  | 
Study says the industry’s Web presence is suffering post ‘Net boom.
Pay attention to your DNA, and let it drive your behavior
News  |  4/7/2006  | 
By Art Gillis I have to confess, folks, that I don't understand DNA. But when I read news accounts about a prisoner who was released as a result of DNA analysis, I feel good. If DNA is a science that means we are all unique individuals, then it supports my philosophy of "Don't fight it, come clean." Last month, I celebrated the 32nd anniversary of my consulting practice. I did it alone. There was no champagne. Telemarketers didn't send canned messages of congratulations. And I never mentio
Security Outlook
News  |  4/7/2006  | 
A plethora of high-profile data breaches and concerns about identity theft have put the banking industry on high alert. To secure their information assets, banks must implement a cross-channel, multilayered approach that extends beyond technology.
Compliance, Not Malware, Drives IT Budgets: Survey
News  |  4/6/2006  | 
Chief security officers say their primary reasons for investing in security software have to do with compliance rules, not virus threats.
Know Your Customers
Commentary  |  4/6/2006  | 
For insurance companies looking to capitalize on customer-centric product development, knowledge of consumers' needs and behaviors is key.
I did a little spring cleaning last Saturday. Here's what I learned
News  |  4/4/2006  | 
By Art Gillis In March 1989 I wrote a piece called "The Bank Automation Arena as I See It." The reaction was strong enough to motivate me to keep doing it - my way. But this time I needed someone to pay the freight. Here's an accounting - date, title, sponsor: June 1989 #2 "My Mythical System for a Community Bank," ADP Banking Information Services Division (later BISYS, now Open Solutions) September 1989 #3 "Systems Integration in a Banking Environment," Broadway & Seymour, now Ja
Data Security: Out To Lunch, Er, Dinner
News  |  4/4/2006  | 
Data Security: Out To Lunch, Er, Dinner
What does $50.24 billion mean to you?
News  |  4/4/2006  | 
By Art Gillis It means two things to me. The net worth of Bill Gates and the amount of money it takes for 17,823 U.S.-based financial institutions to drive their technology for one year (2005). And this is why I keep harping on tech vendors to raise their sights on the big guys. Large banks spend 73.6% of the money. Mid-tier banks spend 16.8%. And the little guys spend 9.6%. In a recent presentation by the president of a large systems integration company, the man kept referring to a messa
Citigroup Ventures Into Direct Banking
News  |  4/4/2006  | 
Citi hopes the new initiative will help it scoop up new online banking customers.
Consumers Express Discomfort with Offshoring
News  |  4/4/2006  | 
ORC study of Americans' attitudes toward overseas loan processing should raise alarm for lenders.
If I believed every Internet offer, I'd be richer than Bill Gates, look like Brad Pitt, travel the world for free, and get dinner invitations from Sharon Stone. Fat chance.
News  |  4/3/2006  | 
Art Gillis 3/31/06 Does anyone fall for these offers? Am I too skeptical? Do I really have relatives in Nigeria who bequeathed large sums of money to me? Is it possible that some day we'll see a more ethical Internet? The answer is YES, if we can count on history to repeat itself. My first PC was an amazingly powerful device - from purchase to use. Here's how it happened: I drove my "father's" Oldsmobile station wagon a half block from my office to a Computerland store. The sweet youn


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