News & Commentary
Content posted in May 2001
INTERNATIONAL BANK GROUP PRODUCES WEB BANKING GUIDELINES
News  |  5/18/2001  | 
The Basel Committee on Banking Supervision has issued a set of guidelines for controlling risks associated with Internet banking.
CONSUMERS STILL LARGELY UNAWARE OF EBPP INITIATIVES
News  |  5/18/2001  | 
A study conducted by Mobius Management Systems shows consumers like the idea of electronic bill payment, but are unaware if their billers offer the service.
NYCH LAUNCHES NEW SYSTEM TO STREAMLINE THE SETTLEMENT PROCESS
News  |  5/18/2001  | 
An initiative spearheaded by the New York Clearing House will have banks assign unique identifiers to business customers, which will help to upgrade current clearing systems.
FIRM OFFERS TOOLS TO UPGRADE LEGACY SYSTEMS
News  |  5/18/2001  | 
Intercomp has developed software that can update and integrate information stored in COBOL and other antiquated computer languages.
EXECUTIVE CHANGES
News  |  5/18/2001  | 
James Baumgartner has been appointed president and CEO of Moneris Solutions Corporation; Sally Larson Sargent named senior VP of the Personal Trust Group for Harris Trust and Savings Bank; Ghislaine Austin becomes chief investment officer and managing director for a wealth management division of First Investment Advisors; Jim beams to head new Custom Research division of Meridien Research; Richard J. Bell leaves TowerGroup.
INTERNATIONAL BYTES
News  |  5/18/2001  | 
Deutsche Bank enters custody service alliance with Bank of China; Dresdner Kleinwort Wasserstein installs new server from Financial Fusion; ABN AMRO taps Bridge Information Services technology to provide real-time financial data at its branches; Overseas Union Bank pilots CCEWeb's GlobalTrade Secure Payment and Trade Management system.
NORTH AMERICA BYTES
News  |  5/18/2001  | 
J.P. Morgan Chase installs INEA enterprise analytic software; Bank of Montreal goes live with Oracle's online procurement service; Federal Home Bank of New York uses Principia Partners tools to meet FAS 133 derivatives standards; Crescent State Bank taps transaction-based finance management software from eRevenue; Fifth Third Bank selects a VASCO and Blockade Systems security package to control remote access.
TRADE SHOW / ASSOCIATION UPDATE
News  |  5/18/2001  | 
BB&T Corporation joins NACHA; Speakers announced for the fifth annual Trema World Forum in Monaco; JavaOne show to focus on the latest uses for Java technology.
A Portal Into Solving Communications Problems
News  |  5/15/2001  | 
Now technology is tackling what is possibly the most universal challenge in every organization in America: effective communications between management, departments and employees.
Resource Management and Scheduling Tool Helps Mellon Financial Juggle IT Projects
News  |  5/15/2001  | 
When Pittsburgh-based Mellon Financial wanted to improve its project management techniques, it was only natural that it embrace the software development framework of its crosstown neighbor, Carnegie-Mellon University (CMU).
Stonebridge Bank Finds Success with Local Internet Strategy
News  |  5/15/2001  | 
Aiming for a local market on the borderless Internet, Stonebridge Bank seems built on a contradiction.
Turning Bills Into Bits
News  |  5/15/2001  | 
Tim Barnett, chief technology officer, Barnett discusses the Spectrum business model and the future of electronic bill payment and presentment (EBPP).
Imagine There's No Paper
News  |  5/15/2001  | 
Banks turn to electronic image and archive systems to ease the burdens associated with traditional check processing.
A Uniform Approach
News  |  5/15/2001  | 
FS 9000 benchmarking helps financial institutions cope with consolidation and may lead to greater industry cooperation
Cleaning House
News  |  5/15/2001  | 
Bankers hope new technology and internal initiatives wash away money laundering woes.
Bank Puts Trust in PlanView to Manage IT Resources
News  |  5/15/2001  | 
A central repository for managing workforce schedules and IT budgets was just what the doctor ordered for Wilmington Trust.
Wilmington Trust Begins Paperless Initiative
News  |  5/15/2001  | 
A half-million dollar investment in workflow automation software is paying off for Wilmington Trust.
People-Friendly Web Site Propels People's Bank
News  |  5/15/2001  | 
People's Bank has a Web site of the people, by the people, and for the people.
FleetBoston Offers Online Storage Tool
News  |  5/15/2001  | 
FleetBoston has introduced a Web-based safe deposit box for online document storage that also takes advantage of one of the real powers of the Internet: the ability to collaborate with people online.
World Briefs
News  |  5/15/2001  | 
IBM and Alltel To Deliver "Hard-Core" Banking in Europe
News  |  5/15/2001  | 
IBM and Alltel have joined forces to market Corebank, a continuous real-time banking system, to European financial institutions.
Differences in Fee Structures Help Drive Canadian Online Banking Acceptance
News  |  5/15/2001  | 
If Canadian consumers have learned anything about selecting a bank, it's that it pays to shop around and, in some cases, go electronic.
BANK BYTES
News  |  5/15/2001  | 
Huntington Bancshares Claims Patent Infringement
News  |  5/15/2001  | 
Huntington Bancshares' legal claim against the Clearing House Association of the Southwest has brought renewed attention to the patenting of previously established, routine business practices.
B2B Trust Backs Away From IPO
News  |  5/15/2001  | 
Succumbing to the recent market downcurve, B2B Trust, a wholly-owned subsidiary of Laurentian Bank of Canada, has scratched its plans to go public, at least for now.
Visa Imposes May 1 Deadline On Web Merchants
News  |  5/15/2001  | 
Visa U.S.A. has given merchants until May 1 to comply with security guidelines it published last year.
Information Technology Spurs Consolidation In Financial Services While Boosting Capacity
News  |  5/15/2001  | 
Information technology is both spurring and facilitating consolidation in the financial services sector, according to a report by the G-10 central banks.
Just Thinking
News  |  5/15/2001  | 
Technology can do a lot of wonderful things. The one thing it can't do, however, is sell itself.
BANKS PUSH TO MEET PRIVACY REGULATION DEALINES
News  |  5/4/2001  | 
Many banks are still pondering the best way to comply with the Gramm-Leach-Bliley privacy regulations, which will be enacted on July 1.
NACHA REPORTS DOUBLE DIGIT INCREASE IN ACH PAYMENT VOLUME
News  |  5/4/2001  | 
Financial institutions performed almost 6.9 billion automated clearing house (ACH) transactions in 2000, a 12.4% increase over 1999 volume, according to The Electronic Payments Association (NACHA).
INTERNET BANKING BOOM EXPECTED IN LATIN AMERICA
News  |  5/4/2001  | 
Competitive pressure will eventually force Latin American banks to upgrade and expand their Web offerings, according to a TowerGroup report.
COMPANY OFFERS INSURANCE/BANKING PRODUCT INTEGRATION
News  |  5/4/2001  | 
Financial Keyosk offers technology that exposes banks to insurance products, and insurance clients to banking services.
EXECUTIVE CHANGES
News  |  5/4/2001  | 
David Golden and Julie Richardson to co-head J.P. Morgan Chase investment banking division; The Risk Management Association names Maurice Hartigan president and CEO; Natalie Taaffe appointed senior vice president at Bridge Bank of Silicon Valley; Colonial Bancgroup promotes Sally Hudson to director of information technology.
INTERNATIONAL BYTES
News  |  5/4/2001  | 
ABN AMRO selects CRM package from Data Distilleries; OVAG to install Summit Systems back office operations software; Royal Bank of Scotland to use Chordiant CRM platform; HPC Group taps RadianzNet extranet to distribute new trading platform to banks; Commercial Bank of Zimbabwe installs MKI eBanking solution.
NORTH AMERICA BYTES
News  |  5/4/2001  | 
Bank of New York partners to form Encompys, a company that will market an STP solution to asset managers; Mosaic Software helps E*Trade Bank move toward bank-brokerage funds at ATMs; Bank of America selects a global trade finance platform from S1; PNC Treasury management to add payment products from Politzer & HANEY; CIBC installs Financial Models' Windows 2000 server platform at its branches
Trade Show/Association Update
News  |  5/4/2001  | 
NACHA announced new task force to explore the future of ACH payments; BITS released guidelines for consumers interested in aggregation services; The Risk Management Association announced speaker lineup for its upcoming conference on Capital Management.


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