News & Commentary
Content posted in May 2005
Security Action Plans
News  |  5/27/2005  | 
Being smart about security is as much about commonsense practices as it is about deploying the right software tools.
Citibank, Daring to Dream of the Year 2054, Warns of Lessons of History
News  |  5/26/2005  | 
Innovation, plus infrastructure investment in databases, mobility and security, can fend off obsolescence, says Citibank.com exec.
Bank Of America Offers Authentication Plan To Battle Online Scams
News  |  5/26/2005  | 
The new service relies on two-way authentication to battle thieves who try to steal information by posing as a bank's legitimate site.
Federal Reserve Cuts Another Check Processing Center
News  |  5/25/2005  | 
Reduction in facilities and headcount parallels decline of paper check
What Is IT’s Role in Providing Competitive Advantage?
News  |  5/25/2005  | 
Among the many challenges today's insurance IT professionals face, a particularly thorny issue has to do with the very validity of what they do.
IBM Adds Data Privacy To Business Collaboration
News  |  5/24/2005  | 
IBM unveils software that makes it possible for organizations to work together without compromising the privacy of each other's data.
JPMorgan Chase to Consolidate Books on SAP
News  |  5/23/2005  | 
Firm will move from over 20 general ledgers from several vendors to a single-instance general ledger.
Banks Delay Transfers To Stop Phisher Thievery
News  |  5/20/2005  | 
The explosion in phishing scams has forced some banks to delay intrabank fund transfers - sometimes for up to a day -to stop the resulting attempts at account pillaging.
Executive Profiles: Merrill Lynch, Wells Fargo, GMAC, Freddie Mac, and SSGA
News  |  5/20/2005  | 
Five business-technology execs outline strategies that help their companies navigate a fast-changing, competitive market.
Chase To Issue RFID-Embedded Credit Cards
News  |  5/19/2005  | 
The technology, called "blink," will let consumers make purchases by passing RFID-chip-embedded cards in front a point-of-sale terminal.
Mphasis Workers Arrested for Pilfering Money from Citibank Customers in India
News  |  5/18/2005  | 
The Indian outsourcing industry was forced to deal with a significant dent to its credibility recently when it was revealed that a trio of workers at Mphasis' call center in Pune were arrested for allegedly stealing Citibank customers' PIN numbers and using the information to pilfer an estimated $350,000 from those U.S. customers.
http://www.crn.com
News  |  5/17/2005  | 
Bank relies upon training software to get customers ready for a rapid transition.
Direct Exchange: Faster, Better, Cheaper
News  |  5/17/2005  | 
Visa Officially Rolls Out Streamlined Network
Regulators Warn on Home Equity Lending
News  |  5/17/2005  | 
Institutions' credit risk management practices for home equity lending have not kept pace with trends, according to federal banking regulators.
'Real ID' Faces Reality
News  |  5/13/2005  | 
The legislation, primarily aimed at denying illegal immigrants driver's licenses, is vague about how the government should implement technical provisions.
Data-Security Laws Sprout In Wake Of Breaches
News  |  5/13/2005  | 
Federal-agency data-security guidelines for financial-service firms could be extended to other industries.
PricewaterhouseCoopers Finds FSIs Focusing on Growth
News  |  5/11/2005  | 
Organic growth is taking the place of conserving and building resources as a priority for financial services organizations.
Veteran Banking Technologist George DiNardo Dead At 67
News  |  5/10/2005  | 
DiNardo was lauded for his pioneering efforts in developing many of the electronic banking services commonly used today.
Banking Regulators to Launch XBRL-Powered Call Report Database
News  |  5/10/2005  | 
The project will launch on or about October 1st, 2005, following a final end-to-end test of the system at the end of May.
MasterCard Shuts Down 1,400 Phishing Sites
News  |  5/10/2005  | 
But the number of phishing sites continued to grow by 26% per month between July and February.
Metavante to Acquire Healthcare Payments Company
News  |  5/10/2005  | 
Purchase of MBI helps company to provide services in the growing field of Health Savings Accounts.
Information Vendors Back Disclosure Law
News  |  5/6/2005  | 
The loss or theft of customer data highlights the need for better security
Study: Consumers Say Mergers Offer Little Benefit
News  |  5/5/2005  | 
Of consumers surveyed by Accenture, 69% said banking acquisitions yield no benefits.
Phishers Turn To Devious Tricks
News  |  5/4/2005  | 
While traditional phishing attacks may be growing slower than ever, more devious identity thievery tactics are starting to crop up, the Anti-Phishing Working Group says.
Banker Catches Mad Powder - and Survives to Tell About It!
Commentary  |  5/4/2005  | 
With Danny Peltz, EVP, Wholesale Internet and Treasury Solutions, Wells Fargo (San Francisco)
Does Money Need a Passport?
Commentary  |  5/4/2005  | 
The New York Times recently featured a front-page story about how a working group within the U.S. Treasury has been considering the prospect of accessing banks' logs of international money transfers.
Co-Branded Cards Take Flight
News  |  5/4/2005  | 
Led by the airline industry, co-branded cards are gaining popularity - and increasing card usage.
Cards
News  |  5/4/2005  | 
Product innovation is key to growth in the card business, but the ability to grow without sacrificing security, speed and reliability is critical. Banks that can provide these things, along with convenience for consumers and increased sales opportunities for merchants, will achieve success.
News & Rollout: Taking ATMs to the Next Level, and more
News  |  5/4/2005  | 
Arab National Bank deploys Level Four ATM suite.; CreditXpert's Fraud Detective; Quaero, NetReflector Marketing Solution; Docucorp Introduces Processing Tool; BMO Deploys Verint; NAB Implements SunGard; Caixa Catalunya Standardizes on BMC
Learning to Comply (removed)
News  |  5/4/2005  | 
Shoring Up the Defenses
News  |  5/4/2005  | 
Heritage Bank beefs up security and improves compliance reporting with TriGeo solution.
Stay a While
News  |  5/4/2005  | 
Mellon Financial convinces corporate clients to invest lockbox deposits with the bank.
Reconcilable Differences
News  |  5/4/2005  | 
Standard Federal Bank helps corporate customers balance their books.
Balancing Act
News  |  5/4/2005  | 
Banks must weigh paper-based workflows as they guide corporate clients toward e-payments.
The Evolution of VoIP
News  |  5/3/2005  | 
As Voice over Internet Protocol technology matures, banks increasingly are adopting VoIP solutions to cut costs, improve efficiency and enhance customer service.
Creating Virtual Value
News  |  5/3/2005  | 
By integrating business channels, consolidating customer histories and beefing up security, banks are improving their online offerings to provide customers with all the conveniences of branch banking in the comfort of their own homes.
Good Things Come in Small Packages
News  |  5/3/2005  | 
Corey Davis, Chief Technology Officer, Richland County Bank
Executive News
News  |  5/3/2005  | 
Online Billpay on the Rise
News  |  5/3/2005  | 
Trend presents banks with customer retention opportunity.
Big Deals
News  |  5/3/2005  | 
BofA, ABN Amro Offer Healthcare Receivables Management
News  |  5/3/2005  | 
HIPAA applies to clearinghouses, but what about lockbox services with outsourcing partners?
XBRL Gets Real As Standard For Financial Reporting
News  |  5/3/2005  | 
SEC Chairman William H. Donaldson urged all companies reporting to the agency to adopt the Extensible Business Reporting Language format.
Financial Services Lawyer: Stronger Disclosure Laws On the Way
News  |  5/3/2005  | 
Activity by state legislators has put pressure on Congress
Security Pros Respond to New Jersey Bank Breach
News  |  5/3/2005  | 
Protecting against an inside job requires outside-the-box thinking.
ECCHO Fills In Regulatory Gaps In Image Exchange
News  |  5/3/2005  | 
Leading electronic check and image exchange intermediaries adopt ECCHO liability rule set.
Michigan Bank Uses INEA For Compliance Reporting
News  |  5/2/2005  | 
Add-in for INEA's enterprise planning and forecasting platform helps the bank satisfy SOX Section 404 requirements.
Measure for Measure
News  |  5/2/2005  | 
April, known as the cruelest month, was particularly harsh this year for many high school students. The source of their suffering?
Time Warner Discloses Loss Of Backup Tapes
News  |  5/2/2005  | 
Tapes contained personal information on current and former employees.


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