News & Commentary
Content posted in April 2010
Page 1 / 3   >   >>
Channeling Keynes and Hayek. . . Through Rap
News  |  4/30/2010  | 
What would F.A. Hayek and John Maynard Keynes do if they came back to life to attend a conference on the economic crisis? They'd go out on the town for drinks and maybe rap on economics, of course.

Consumers Know About P2P Payments, Wary of Using Them
News  |  4/30/2010  | 
Although person-to-person payments are not yet widely available, U.S. consumers get the concept of them, a survey released at this week's NACHA show and sponsored by NACHA, eCom Advisors, FIS and PayPal found.
Beware of Microbursts, Cisco Warns Banks
News  |  4/30/2010  | 
You may be measuring data latency in your data center or trading environment, but you may not be measuring it in small enough increments to detect very short spikes in traffic that could be causing data packets to be dropped, in turn causing orders to be dropped or market data to fall out of sync with trading strategies, Cisco executives said yesterday. High-frequency trading is the most logical place for bankers to be worried about microbursts;
Retailers to Banks: Give Us Chip and PIN, Electronic Checks
News  |  4/29/2010  | 
Executives at three of the largest payment-generating retailers - Walmart, Best Buy and T-Mobile - were on hand at the NACHA Payments conference this week to tell bankers what they want and the trends they see on the horizon.
J.P. Morgan to Join Microinsurance Fund LeapFrog
News  |  4/29/2010  | 
On May 6, 2010 at the IFC headquarters, the world's first microinsurance fund, LeapFrog Investments, will announce that the fund has raised a record amount for investments in Africa and Asia. LeapFrog will also announce new investor J.P. Morgan among other major institutional investors.
Federal Home Loan Bank of San Fran. Selects Calypso
News  |  4/29/2010  | 
Calypso Technology, Inc., a global application software provider, announced today that the Federal Home Loan Bank of San Francisco has selected Calypso Technology's front-to-back office system to support its front office trade origination, valuation, accounting and back office processing activities.
Online Bill Pay Users Less Unhappy Bank Customers, NACHA Survey Finds
News  |  4/29/2010  | 
Online bill pay users are less likely to be dissatisfied bank customers than paper bill payers, according to a survey NACHA commissioned Javelin Strategy & Research to conduct and that was released at the NACHA Payments show in Seattle this week. NACHA is using the data to support its Pay It Green marketing initiative intended to spur adoption of online billing. Below is the vide
Chase to Open 90 Calif. Branches in 2010
News  |  4/28/2010  | 
Chase announced Tuesday that it will open 90 new branches in California, bringing approximately 1,200 jobs to the state and effectively extending Chase's reach in California to more than 800 branches and nearly 3,000 ATMs.
BofA Builds A Corporate Payment Hub
News  |  4/28/2010  | 
One of the most commonly used phrases at the NACHA Payments conference this week is "corporate payment hub." All the big-booth vendors offer one, consultants and analysts say banks must have one. Not only is a universal payment platform needed to satisfy the needs of corporate clients who insist on being able to make any type of payment (ACH, EDI, wire, check, etc.) through one channel and have that payment information routed directly into their accounting systems, these proponents say, but addi
FirstCaribbean, Sybase Roll Out Mobile Banking
News  |  4/27/2010  | 
FirstCaribbean International Bank and Sybase, Inc. subsidiary Sybase 365 on Monday announced a partnership to provide customers with mobile banking services.
Decide Out Loud, Former Google CIO Advises
News  |  4/27/2010  | 
Douglas Merrill, former CIO and vice president of engineering at Google, gave NACHA Payments attendees tips on innovation during a luncheon speech. The audience was very attentive and seemed to agree with his key points, which included these:
J.P. Morgan, SWIFT Unveil Message Format for Corporate Account Changes
News  |  4/27/2010  | 
New ISO standard a first step toward automating treasury management processes across all banks along SWIFT or non-SWIFT networks.
You Know 2009 Was an Unusual Year for Bank Tech When Fiserv Didn't Make Any Acquisitions
News  |  4/27/2010  | 
Acquisitions have been as much a part of bank technology companies as introductions of brand new solutions and healthy organic growth. Now all three are waning.
Bankers Cautiously Intrigued By Square
News  |  4/27/2010  | 
The youthful founders of payment startup Square, Jack Dorsey and Jim McKelvey, created a stir at the NACHA Payments conference yesterday. After their keynote panel, we asked attendees what they thought of the company and its scheme for letting people accept payments using a mobile phone and a small white cube. Everyone we spoke to had a strong opinion.
EBIDS Has Handled 4.5 Online Bills, Is Now Open to All Banks, Billers
News  |  4/26/2010  | 
Online bill presentment is not new, but neither is it ubiquitous, Janet Estep, president and CEO of NACHA, pointed out today at a press conference at the Payments conference in Seattle. The payment organization's eBIDS bill presentment project is an effort to provide universal access to online bill presentment across financial institutions and billers, so that consumers can see and pay all
How Square's Model Could Take Over Mobile Payments
News  |  4/26/2010  | 
Payment newcomer Square has ambitious plans to build a universal payment utility that will allow merchants and customers to send payments to each other, accepting payments by swiping cards with a small square device the size and roughly the shape of a marshmallow in conjunction with a mobile device. "A lot of people have mobile devices and are looking for new ways to manage their money and their life," said CEO Jack Dorsey at the NACHA keynote speech this morning. "Square is one way to make that
Hartsema Parlaying Love of Lockbox into Growth Strategy at Huntington
News  |  4/26/2010  | 
Huntington Bank plans to grow its treasury management business in a dramatic way, says Doug Hartsema, senior vice president and director, treasury management, Huntington Bank, who sat down with us this morning at the NACHA Payments conference in Seattle. Hartsema is a payments veteran and player. He started his career at Wachovia, was there for 18 years in various positions in operations, trust, and treasury services, then moved to treasury workstation vendor Selkirk (in which Wachovia had bough
Analyst Labels M-Commerce Renaissance a Priority
News  |  4/26/2010  | 
Banks making a concerted push to promote contactless payment technology are focusing on the wrong target and should switch their short-term focus to mobile commerce. That's the main conclusion of a new report by independent technology analyst Ovum, which finds that m-commerce is set to experience a renaissance as industry players express renewed interest and mobile banking services take root.
Experian and Moody's Analytics Partner on Consumer Credit Loss-Forecasting and Stress-Testing Solutions
News  |  4/26/2010  | 
Experian and Moody's Analytics partner on consumer credit loss-forecasting and stress-testing solutions; strategic alliance will provide advanced tools to help financial institutions manage their consumer loan portfolios.
Is Blippy's Data Breach An Online Payments Cautionary Tale?
News  |  4/26/2010  | 
The news that the card numbers of five Blippy users had been exposed to anybody with the search savvy to Google "site:blippy.com +'from card'" came as a bit of a shock on Friday. The first question is, who would want to share with strangers all their credit card purchases at a site like Blippy, whose sole purpose is credit and debit card spending voyeurism? What kind of psychological need is being filled by broadcasting that you just purchased an i
Cloud Computing and "The New Normal"
News  |  4/23/2010  | 
For the better part of this week, I couldn't seem to get my head out of the clouds.

HDFC, NCR Win Two Asian Bank Tech Awards
News  |  4/22/2010  | 
SINGAPORE " India's second largest private bank, Mumbai-based HDFC Bank, and its technology partner, NCR Corporation, won two awards at the 2010 Asian Banker Technology Implementation Awards for the best "Multi-channel Capability" project and the best "ATM Installation and Management Solution," beating 60 other entrants.

Perspectives: Emerging Opportunities in Emerging Markets
News  |  4/22/2010  | 
Industry experts discuss opportunities for banks in emerging markets and the technology necessary to be successful in those global markets.
Bring Banking Expertise to New Markets
News  |  4/22/2010  | 
Banks can benefit by bringing in-house expertise to emerging markets.
The Right Solution For the Right Job
News  |  4/22/2010  | 
An emerging market technology strategy should depend on the type of banking operation the bank is considering.
Local Stakeholder Knowledge Needed to Succeed in New Markets
News  |  4/22/2010  | 
With poor "local stakeholder knowledge," no bank will ever get anywhere in emerging global markets.
Robust Product and Process Designs Required to Enter Emerging Markets
News  |  4/22/2010  | 
Robust product and process designs at an attractive price position are prerequisites to compete in emerging global markets.
Can the Humble ATM Become a Customer-Retention Tool?
News  |  4/22/2010  | 
Community Choice Credit Union and other financial institutions are adding functionality to their ATMs in an effort to improve the customer experience and boost retention.
Channel Innovation: Building Online Relationships
News  |  4/22/2010  | 
Looking to connect with Gen Y and other hard-to-reach consumers, banks are getting more creative in reaching out to customers online, particularly with personal financial management tools and social media.
Citi's Bundle.com Lures Consumers With Spending Data, Comparisons
News  |  4/22/2010  | 
With spin-off financial planning site Bundle.com, Citi finds a unique way to reach a new audience.
Payments Execs Leery of More Regulation, Survey Says
News  |  4/22/2010  | 
JERSEY CITY, NJ - April 22 — Fundtech Ltd., a global transaction banking solutions provider, today announced the results of a survey of payments industry participants. Survey results show pronounced differences between members of the corporate and banking communities on the matter of further government regulation, as well as an overall trend towards increasing value-added services in the industry.

TCO vs. ROI vs. Payback Time: Is One Better?
News  |  4/21/2010  | 
In the best and worst of times for IT budgeting, internal debates and analysis within banks and other financial institutions will invariably get around to some financial justification for incremental new spending, evaluating new projects, or looking at contracts up for renewal in one or two years. Over the past three decades there have been several methodologies that bank finance types and third party consultants have used to perform this type of analysis. None of the alternatives are perfect an
Premier Bankcard to Deploy Microsoft's New SQL Server R2
News  |  4/21/2010  | 
Bank card unit expects to see benefits from centralizing database administration and giving users self-service business intelligence.
First National of Nebraska Upgrades its AML Platform
News  |  4/21/2010  | 
Large privately held bank automating and improving efficiencies in its due diligence process, using software from Actimize.
Lesser-Known Vulnerabilities of Mobile Payments
News  |  4/20/2010  | 
I recently read the following sentence in an email and was alarmed: "Hackers can extract cryptographic keys from smart-card enabled credit cards and payment devices by monitoring the card's power consumption while in use." It turns out that this vulnerability was discovered in the mid-1990s. "There are elements of it that have been reasonably well solved by the payments industry and there are elements where the story is not yet finished," says Benjamin Jun, vice president of technology at Crypto
Baby Boomers Have Realized They Won't Be Able to Retire
News  |  4/20/2010  | 
A Corporate Executive Board survey finds that Baby Boomers are facing harsh economic realities.
Even Bank CIOs Don't Know the Real Cost of Their IT Resource
News  |  4/20/2010  | 
Calculating the accurate cost of a bank's IT resource is like pinning down the exact location of Osama bin Laden's cave. There are some ideas floating around, but they're fuzzy. Because I don't have a personal stake in this matter, I believe I can present an interesting case to explain this phenomenon.
Mobile Banking Technology Helps Small Banks Build Awareness, Compete
News  |  4/20/2010  | 
As mobile technology becomes more accessible, smaller institutions such as Avenue Bank are leveraging the mobile channel to compete with the big banks.
Consumer Payments Flat, But Poised for Growth, IDC Survey Finds
News  |  4/20/2010  | 
Same-day bill payment, mobile payments and prepaid cards are promising areas, according to IDC.
TD Bank Opens Prototype Green Branch
News  |  4/19/2010  | 
With the launch of an LEED Platinum-certified branch in Queens Village, N.Y., TD Bank takes a major step in its quest to significantly cut its greenhouse gas emissions.
Union Bank Deploys Financial Crime-Fighting Software
News  |  4/19/2010  | 
Wolters Kluwer's Wiz Sentri software monitors customer and employee activity for signs of and should protect the bank's customers.
Cardlytics' Transaction-Based Ad Model Booming
News  |  4/19/2010  | 
As a business model, Google is a Web advertising platform with a search engine, e-mail and productivity software suite, Web browser and a host of other computing tools built on top. Search for something on Google and you usually find what you're looking for, along with any number of paid advertisements for products that might have something to do with what you seek. Apply that concept to advertisements based on consumer purchases printed in an account statement, and you get an idea of where
InfiniBand Marries Ethernet in New Network Spec
News  |  4/19/2010  | 
Offspring said to be 40 gigabit per second speeds and low latency, according to the InfiniBand trade association.
What Did Goldman Tell Abacus Investors?
News  |  4/19/2010  | 
The SEC's case against Goldman, which it unveiled Friday, hinges mostly on one thing: what did the Wall Street giant tell investors about the toxic-waste-based CDO it sold them?
Gov. Anti-Fraud Site Launches Amid Goldman Accusations
News  |  4/19/2010  | 
Reporting suspected fraud is now just a couple clicks away, as the U.S. government continues developing Web tools to empower citizens as watchdogs.

LEGO ATM: Plastic Bricks, Real Money
News  |  4/19/2010  | 
It dispenses cash and coins. It accepts Visa and MasterCard. And it's made out of plastic bricks. While it might not be rolled out en masse to the nation's retail banks any time soon, Ron McRae's homemade ATM just might be the best cash machine ever assembled from a bucket full of LEGO parts, a HiTechnic IRLink and a Cadatex RFID Sensor.

ING Commercial Banking Adopts Worldflow Research Distribution
News  |  4/19/2010  | 
Amsterdam-based ING Commercial Banking became the first customer to sign up to the worldflow Research Distribution (wRD) service, which the bank will use as a fully-managed and audited service to distribute its equity and economic research to clients and internal users. Launched last month, wRD is a new product of London-based software and financial service provider, woldflow.

80% of Parents of Teens Want to Be Better Financial Role Models, Survey Finds
News  |  4/19/2010  | 
Capital One and Search Institute have rolled out BankIt.com, a website intended to help parents and teens talk about, understand and manage money.
Syracuse Students Say No to Dimon
News  |  4/16/2010  | 
In an effort to "Take Back Commencement," a group of Syracuse University students has engaged in the protest of JP Morgan Chase CEO Jamie Dimon's upcoming speech at the school's commencement ceremony in May.

Page 1 / 3   >   >>


Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology - August 2014
Modern core systems are emerging as the foundations of effective channel integration and customer engagement initiatives.
Slideshows
Video
Bank Systems & Technology Radio