News & Commentary
Content posted in May 2002
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GreenPoint Streamlines Loan Approval
News  |  5/31/2002  | 
Interest rates cause loan originations at GreenPoint Mortgage to climb to $26 billion last year from $11 billion in 2000.
Fed Kicks Off Check Image Service
News  |  5/31/2002  | 
The Federal Reserve introduces FedImage Services, an imaging solution for financial institutions.
ABN AMRO Rolls Out Collaboration Tool
News  |  5/31/2002  | 
ABN AMRO installs divine MindAlign.
System Cures Accounting Woes at BOK
News  |  5/31/2002  | 
Acquisitions helps BOK Financial Corp., jump from 34 to 88 locations between 1991 and 1998.
Huntington Lands Services Deal
News  |  5/31/2002  | 
Cygnus Entertainment taps Huntington Merchant Services to provide real-time, point-of-sale credit and debit card processing for its kiosk and online transactions.
World Briefs
News  |  5/31/2002  | 
Sumitomo Mitsui, Japan, installs multiple ES7000 servers to monitor ATM transactions; Bank of N.T. extends its core banking contract with Alltel Information Services; Spar Nord Bank and Laan & Spar Bank test a system that lets customers withdraw cash from an ATM using mobile phones.
Gov't to stress FBAR reporting
News  |  5/31/2002  | 
As many as 1 million U.S. taxpayers may have signature authority over a foreign bank account.
Barclays Installs Content Management Product
News  |  5/31/2002  | 
Barclays Bank deploys content management software from Vignette.
Online FX Market Gets A Reality Check
News  |  5/31/2002  | 
The demise of Atriax is associated with a number of factors, say competitors and independent observers.
U.S. Bancorp Joins Viewpointe
News  |  5/31/2002  | 
U.S. Bancorp takes ownership position in Viewpointe Archive Services, and signs a long-term agreement to implement Viewpointe's check image archiving technology.
BofA Installs Productivity System
News  |  5/31/2002  | 
Bank of America taps the TotalView workforce management system from IEX.
Bank One and Microsoft Announce Software Products
News  |  5/31/2002  | 
Bank One and Microsoft introduce two packaged software products.
Safe Settlement
News  |  5/31/2002  | 
CLS Bank, a global FX settlement utility, is undergoing rigorous testing before launch.
Bank Bytes
News  |  5/31/2002  | 
Zions Bank uses image archiving services from Viewpointe Archive Services; Charter One Bank contracts with Metavante Electronic Banking; Commonwealth Bank offers an online check image retrieval service powered by image-based item processing.
Insurance Industry May Drive Bank Security Policies
News  |  5/31/2002  | 
Insurers may require banks to counteract higher threat levels with increasingly stringent security standards as part of policy renewals.
Yodlee Adds Business Intelligence to Aggregation
News  |  5/31/2002  | 
Yodlee Navigator and Yodlee Octane allow customers to data mine aggregated customer information.
Wachovia Securities Ventures Into The New World Of Web Services
News  |  5/31/2002  | 
Wachovia Securities and Thomson Financial use web services technology to streamline the sending of First Call consensus data to clients.
Citibank Adds Functionality to Structured Finance Web Site
News  |  5/31/2002  | 
Citibank has enhanced its Web site for structured finance investors and clients to provide batch downloading of deal documents and other benefits.
Web Banks Beat Brick and Mortars To The E-Mail Punch
News  |  5/31/2002  | 
Internet-centric banks get top marks for e-mail customer service, but leave room for improvement.
Executive Update
News  |  5/31/2002  | 
Craig Rhinehart appointed vice president of sales and marketing for Tarian Software; Elma Carey named sales director for Prediction Dynamics; Mariagrazia Polo appointed sales executive for Italy for JPMorgan Investor Services Europe, Middle East and Africa.
International Bytes
News  |  5/31/2002  | 
MasterCard launches unified global vendor program; Pekao Financial Services, a subsidiary of Bank Pekao SA Poland, to install MSHARE, a recordkeeping package developed by Global Investment Systems; The Euro Banking Association taps Societa Interbancaria per l'Automazione to build and operate a new pan-European Automated Clearing House for mass payments in Euro.
North America Bytes
News  |  5/31/2002  | 
JPMorgan Chase Bank converts to the Corillian Voyager Internet banking platform; First Financial Bancorp and First National Bank of Southwestern Ohio use BISYS to support their entry into the mutual fund industry; Union Bank of California selects EEI's Integration Suite to support its OFX platform.
Association Update
News  |  5/31/2002  | 
Retail Finance Europe 2002 Conference and Expo set for June 17 to 19 in London; Comptroller of the Currency John D. Hawke Jr. will deliver the keynote address at the RMA's annual conference on Capital Management this June in Washington D.C.; Representatives from large financial institutions to speak at Retail Decisions' annual Risk Management Symposium this June in Newport, R.I.
Treasury Assures Congress of IRS Readiness
News  |  5/16/2002  | 
The USA PATRIOT act puts an additional burden on the Internal Revenue Service, but the agency can handle the extra workload, according to the U.S. Treasury.
Gen X Marks The Profit Spot
News  |  5/16/2002  | 
The Generation X market could yield $21 billion in annual potential revenue for financial services firms, according to a recent Celent Communications report.
SAN Backup Gains In Importance
News  |  5/16/2002  | 
While some institutions continue to scrimp on storage system backup, Citizens Financial Group has purchased an advanced business continuity solution from EMC.
CRM System Helps Banks Post Productivity Gains
News  |  5/16/2002  | 
Three banks boosted their qualified sales referrals by 50 percent using the Strategix Universal Marketing Database (UMD), a suite of software products that enables companies to implement incentive compensation programs.
Executive Update
News  |  5/16/2002  | 
Alfred B. DelBello joins the Advisory Board of Signature Bank; Charles A. Davis appointed to the Executive Advisory Board of DWL; Joseph A. Smith, Jr., named North Carolina's Commissioner of Banks.
International Bytes
News  |  5/16/2002  | 
Monte Titoli established an electronic link with The Depository Trust & Clearing Corporation; JCB Company won the operational contract for the KANSAI THRU PASS, a contactless IC chip transportation/charge card; The Cheshire Building Society converts its mortgage service to the i-Wealthview platform from Fincentric Corporation.
North America Bytes
News  |  5/16/2002  | 
Wachovia offers BillingZone, an electronic invoice presentment and payment service, to its corporate clients; National Bank of Canada signs a multi-year contract with eScout, an e-business services provider; U.S. Bancorp takes an ownership position in Viewpointe Archive Services.
Association Update
News  |  5/16/2002  | 
RMA releases dates for its sixth annual retail risk management conference; NACHA issues a call for presentation applications for its PAYMENTS 2003 show; SWIFT signs a strategic STP agreement with Omgeo.
Drawing the Line Between CRM and Wealth Management
News  |  5/14/2002  | 
In "Drawing the Line Between CRM and Wealth Management," Fincentric CEO Mike Cardiff suggests CRM's shortcomings can be overcome by the strengths of a solid wealth management system.
Credit Union Deploys Secure Instant Messaging
News  |  5/7/2002  | 
Financial services firms, as well as other organizations, are beginning to view instant messaging as a serious business tool.
Brand New Approach
News  |  5/7/2002  | 
Washington Mutual makes a splash of late through its nationwide acquisition of banks, ranging from Dime Bancorp, to Bank United. The institution has time to develop new technologies, such as its Occasio platform for retail bank branches.
Citigroup Taps .NET Tech From Microsoft
News  |  5/7/2002  | 
Citigroup plans to use Microsoft .NET technologies to streamline and enhance customer access to Citigroup's products on the Internet.
Small Businesses Seek Robust Net Solutions
News  |  5/7/2002  | 
Although small businesses aren't flocking to the Internet for banking transactions, the majority of them would like more services automated online.
A Stronger Hook
News  |  5/7/2002  | 
Banks lure small business clients with customized online offerings.
Organizing The Response
News  |  5/7/2002  | 
Since the September 11 attacks, the New York Clearing House has taken a lead role in organizing the industry response to terror.
The Limits of Outsourcing
News  |  5/7/2002  | 
The fundamental types of security risks haven't changed since the days of the Medicis.
A United Front
News  |  5/7/2002  | 
Banks, vendors and the government work to ensure PATRIOT ACT compliance.
Heritage Bank Scraps DOS-Based System
News  |  5/7/2002  | 
Officials at Heritage Bank of St. Joseph are determined to provide tellers with the best and most technologically advanced system available.
L.A.-based Credit Union Installs Harland's Touche Solution
News  |  5/7/2002  | 
For Los Angeles Firemen's Credit Union, integration with its host processing system is the key factor behind its selection of the Touche customer relationship management system from Harland Financial Solutions.
Bank of America Taps Lightware Provider
News  |  5/7/2002  | 
Bank of America selects Broadwing to transmit mission-critical data among top major markets across the United States.
Fleet To Revamp Teller Operations
News  |  5/7/2002  | 
FleetBoston kicks off a $14 million initiative to add nearly 500 new tellers throughout its branch network and provide teller station capacity upgrades to shorten customer wait times.
World Briefs
News  |  5/6/2002  | 
Burgan Bank launches an Internet payment portal using Commerce Gateway e-commerce software from ACI Worldwide; Post Office Ltd. contracts with IBM to build an e-business infrastructure to connect Post Office branches to connect Post Office branches to banks; Commonwealth Bank of Australia licenses the webMethods integration platform.
Mitsubishi Tokyo Deploys Financial Reporting Software
News  |  5/6/2002  | 
By listing on the New York Stock Exchange, several Japanese companies increase their global profiles, diversify their shareholder bases and expand their strategic options.
U.K. Venture Heralds Future of Item Processing
News  |  5/6/2002  | 
A check processing venture formed by several of Britain's largest banks may hold a portent for how the U.S. market might evolve.
CIBC Kicks Off Wireless Banking Service
News  |  5/6/2002  | 
CIBC's wireless banking service intends to take advantage of favorable demographics.
Bank Bytes
News  |  5/6/2002  | 
Columbia Bank purchases 23 Series 8000 Web-enabled ATMs from Fujitsu Transaction Solutions; Sovereign Bank licenses customer service monitoring software from Eyretel; Cape Cod Bank & Trust licenses PowerPath Network.
Swiss Banks Guard Privacy-Or Is It Secrecy?
News  |  5/6/2002  | 
As U.S. banks scramble to comply with the USA PATRIOT Act, foreign banks are starting to feel the pressure too.
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