News & Commentary
Content posted in April 2008
If I were the CEO of a bank, I would....
News  |  4/28/2008  | 
1. Hire a personal auditor, but not a partner of the bank's audit firm, and not one of the Big Four. 2. Hire a personal attorney, not from Philadelphia, but nearby from the Bronx. 3. Outsource all personal expense report submissions to an independent accounting firm that has no ties to the bank, and no ambitions to be there. 4. Hire a personal devil's advocate as an independent contractor with a guarantee tenure to make sure I uphold moral, business, ethical and fairness rules as the contractor
The Greening of Banking
News  |  4/28/2008  | 
On the first Earth Day-April 22, 1970-I enthusiastically did my bit for the environmental cause by volunteering with some of my fellow high school students to run a car wash that was supposed to raise money and awareness. Of course it didn't occur to any of us that there was something inherently contradictory about trying to save the environment by washing cars. We felt optimistic and productive and kind of noble. We knew we had done something good, although none of us would have been very succe
HID Global and Dynamic Card Solutions Launch CardWizard Financial Card Printing System
News  |  4/24/2008  | 
CardWizard enables full card personalization plus secure, automated issue and activation.
Chesapeake System Solutions Hosts IDM Data-Collection Service
News  |  4/24/2008  | 
IDM Service claims to ensure confidentiality while providing multibank information reporting to corporate customers.
Sterling Savings Rolls Out FSB Solutions’ Teller Deposit Automation Image-Capture Solution
News  |  4/24/2008  | 
Front-counter solution promises to increase banks' efficiencies and to speed transactions by truncating paper checks.
Transfer Limits: Reducing Risk at the Expense of Convenience
News  |  4/24/2008  | 
To fund a study we're conducting in our brokerage research, we recently attempted an online transfer of $5,000 from a Citibank account to a linked Charles Schwab account. We had done this before without any problem, and were surprised to note that Citibank recently reduced the daily limit for outgoing inter-institution transfers (IITs) from $5,000 to $2,000.
Flushing Financial Corp. Taps Barbara Beckmann to Be SVP
News  |  4/23/2008  | 
Beckmann is named SVP, director of operations.
Can Anyone Stop DataTreasury In its Patents Crusade?
News  |  4/23/2008  | 
It looks like Data Treasury has claimed yet another victim in its patents game. It was announced recently that PNC Financial was the latest FI to settle with the notorious patent litigant over technology around electronic check imaging.
Barclaycard’s New Managing Director Tom Karinshak Stays Focused on His Customer
News  |  4/23/2008  | 
As managing director, customer care and bank operations, at Barclaycard US, Karinshak will leverage technology to drive best-in-class customer service.
Fiserv Streamlines Dispute Resolution With New Version of CheckFree
News  |  4/23/2008  | 
The newest version of CheckFree Adjustments/Express offers a single-module, image-based solution for easier processing of payment disputes.
The Price of a Stock has Never Influenced My Recommendation of a Bank Tech Vendor
News  |  4/21/2008  | 
With all due respect, I realize that my bank clients and private equity clients care a lot about the performance of their investments in the stock market. I'm simply saying that as an advisor to banks that are searching for a new core applications software or service company, I deal with 814 criteria in making my final recommendation. The price performance of a vendor's stock is not one of the 814.
IDB Bank Taps Robert Plante to Drive Information Systems Strategy
News  |  4/21/2008  | 
As IDB's new EVP and CIO, banking veteran Robert Plante will be responsible for the technical strategy, innovation and engineering of the bank's information systems network.
Analytics Are Becoming Increasingly Important Tools in Banks’ Customer Retention Strategies
News  |  4/21/2008  | 
Predictive analytics tools are helping banks understand customers' behaviors and meet their unique needs with tailored products and services, improving customer retention as a result.
The Bank of New York Mellon Integrates Legacy Systems to Offer Customers Only the Best
News  |  4/21/2008  | 
Following the merger of The Bank of New York and Mellon Financial Corp., cohead of treasury services integration efforts Al Briand forges a best-of-breed operations and technology portfolio while continuing to provide Treasury Services customers with innovative new products.
JPMorgan Chase Extends Treasury & Securities Services in Latin America
News  |  4/18/2008  | 
JPMorgan Chase expands treasury services in Latin America to tap growing market.
BB&T Improves Online Training With EEDO’s ForceTen LCMS
News  |  4/18/2008  | 
BB&T improves online training with EEDO's ForceTen Learning Content Management System.
MCNB Banks Unlocks the Potential of Electronic Check Capture
News  |  4/18/2008  | 
Epson's POS scanner/printer/transmission device helps MCNB Banks expand into new markets.
News  |  4/18/2008  | 
Keys to Improving Customer Retention
News  |  4/18/2008  | 
Banks can enhance loyalty by keeping the customer's experience the center of their business.
Enterprise Payments Architectures Are Gaining Ground at Banks
News  |  4/18/2008  | 
Building an enterprise payments architecture is a huge undertaking, but one that may be necessary to remain competitive in the payments business. Banks are starting to turn their dreams of a holistic payments system into a reality -- improving efficiency, oversight and service in the process.
Banks Prove Top Performers in Call Center Study
News  |  4/18/2008  | 
Financial services is among the top industries in deploying call center tech, study claims.
Banks Told to Prep for New International ACH Rules
News  |  4/18/2008  | 
NACHA rule for international ACH payments improves OFAC compliance.
News  |  4/18/2008  | 
Financial institutions are making progress toward aligning IT risk management with overall organizational risk strategy.
Enterprise iPhone to Face a Variety of Opportunities and Challenges
News  |  4/18/2008  | 
Apple eyes the corporate remote device space with its iPhone. But the popular consumer device faces hurdles to enterprise adoption.
Cash Management Business on the Upswing — But for How Long?
News  |  4/18/2008  | 
Electronic transaction technology contributed to cash management revenue jump, survey says.
Shrewd Leveraging of Technology and Staff Key to Achieving Cost-Effective AML Compliance
News  |  4/17/2008  | 
By automating and streamlining procedures and data management, as well as continually enhancing employees' skills, banks can improve productivity and effectively balance compliance with cost-cutting.
Knowledgeable Personnel and Flexible AML/CFT Programs Are Banks' First, Best Line of Defense
Commentary  |  4/17/2008  | 
In conjunction with training and empowering staff, banks must develop adaptable, robust programs to comply with changing AML/CFT guidelines.
Integrating Systems Essential to AML and SAR Compliance
News  |  4/17/2008  | 
To follow regulators' requirements, banks must leverage and coordinate compliance, risk management and IT department efforts.
Data Warehouses Permit a Holistic View of Customers' Activities
News  |  4/17/2008  | 
Data warehouses and automated transaction monitoring systems are valuable risk-assessment tools that allow banks a clear view of customers' universe of activity.
AML Efforts Intensify
News  |  4/17/2008  | 
As banks look to step up efforts to monitor their customers' financial activities and comply with increasingly stringent anti-money laundering regulations, what kinds of technologies, processes and information are essential to building an effective and accurate AML program? And what new AML challenges are banks likely to face in coming months?
FSTC Operational Resiliency Project Reaches Next Phase
News  |  4/17/2008  | 
FSTC operational resiliency benchmarking project offers banks objective measures of preparedness.
Will FICO Scores Suffice In Credit Crunch World?
News  |  4/14/2008  | 
By Clark Abrahams, Marketing Director, SAS Is a new credit assessment the intervention needed for the subprime crisis? As I follow the unfolding mortgage crisis, one thing is abundantly clear-there is significant room for improvement in current credit assessment approaches. Credit scoring has not done an adequate job of assessing risk in the subprime mortgage market. That fact is beyond dispute. Simple re-calibration of the existing models will not fix the problem of the blind spot in today's u
Fewer Bank Tech Vendors, but More Solutions to be Had
News  |  4/14/2008  | 
Today, there are fewer bank tech companies, but more solutions in the marketplace. In 2001, there were 165 companies selling 223 solutions to banks, thrifts and credit unions. Today there are 71 companies selling 306 solutions. That's 57 percent fewer companies; 37 percent more solutions.
Industry Collaboration Vital to Banks' Viability
News  |  4/11/2008  | 
I recently attended the SWIFT Operations Forum Americas in New York. While there, I had the pleasure of hearing some very influential people from the financial services industry speak. Foremost among the FS heavy-hitters (to me, anyway) were the executives who spoke during the second keynote address. It wasn't a keynote in the traditional sense, but more like a panel. Attendees were invited to hear what Bank of Ameri
These May be the Best of Times for Some Bank Tech Vendors
News  |  4/7/2008  | 
A few years ago, the stats were telling me that the #1 business (new core sales) for bank tech vendors was leveling off. Not dying, mind you, just leveling off from about 8 percent of the population to about 3 percent. The sale of core apps solutions is the sweetest sale any vendor can make for these reasons: It's the biggest thing every financial institution (16,881 in the U.S.) does. All FIs do it every day. It's so critical that FIs would be subjected to huge risk if just one night's processi

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