News & Commentary
Content posted in May 2012
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Wells Fargo Eyes Insurance Sales Acquisitions
News  |  5/31/2012  | 
Wells Fargo & Co, after a respite from acquisitions following its 2008 purchase of Wachovia Corp, is interested in buying insurance sales businesses, its chief executive said Thursday.
With Mobile, Integration is Everything: Q&A With KeyBank's Dean Ilijasic
News  |  5/31/2012  | 
Deploying mobile as a channel could easily become a siloed exercise. But Cleveland-based KeyBank takes a different approach. Key SVP Dean Ilijasic explains the significance of mobile to the bank's multi-channel strategy.
Dimon to Appear Before Senate Panel June 13
News  |  5/31/2012  | 
JPMorgan Chase and Co Chief Executive Officer Jamie Dimon will testify before the U.S. Senate Banking Committee on June 13 to discuss the bank's recent trading losses, the committee said on Thursday.
CGI To Acquire Logica
News  |  5/31/2012  | 
The Canadian IT services firm will spend $1.7 billion British Pounds on the acquisition.
E.U. Calls for Euro Zone Banking Union, Direct Bank Recapitalizations
News  |  5/30/2012  | 
The euro zone should move to a banking union and consider directly recapitalizing banks from its permanent bailout fund, the European Commission said on Wednesday in annual economic recommendations that shone a critical light on Spain.
Small Banks Deregister in Droves Due to JOBS Act
News  |  5/30/2012  | 
A study from Charlottesville, Va.-based SNL Financial reports that many small banks are rushing to de-register their common stock and free themselves from the reporting requirements.
Google Wallet: One Year Later
Commentary  |  5/30/2012  | 
The much-hyped mobile wallet is one year old, but has not had the happiest of birthdays.
Temenos, ABN AMRO Partner on New Payments Infrastructure
News  |  5/29/2012  | 
The new system will be based upon the Temenos Enterprise Frameworks Architecture, which provides the platform for Temenos' T24 core banking software
JPMorgan Dips Into Cookie Jar to Offset "London Whale" Losses
News  |  5/29/2012  | 
JPMorgan Chase & Co has sold an estimated $25 billion of profitable securities in an effort to prop up earnings after suffering trading losses tied to the bank's now-infamous "London Whale," compounding the cost of those trades.
Mobile Payment Transactions to Surpass $171 Billion in 2012
News  |  5/29/2012  | 
Gartner predicts the number of mobile payment users will reach 212.2 million in 2012, up from 160.5 million in 2011.
BofA Merrill Lynch Announces Updated Card Solution
News  |  5/29/2012  | 
Exact auth override is an enhancement to its flagship card solution, ePayables.
Oracle Announces Flexcube 12.0
News  |  5/25/2012  | 
The core banking solution includes features that enable banks to deliver more personalized and convenient service to customers across all channels
PayPal Strikes Deals With 15 Retailers
News  |  5/25/2012  | 
PayPal has made deals with 15 retailers including Toys R Us, J C Penney and Barnes & Noble that will allow consumers to pay for purchases with their cellphones while expanding the online payment company's service into additional physical stores.
ACI Releases New Solution For Acquiring Banks
News  |  5/25/2012  | 
The latest version of ACI Acquirer is designed to help acquiring banks manage merchant accounts.
Consumers Want Bank-Offered Prepaid Cards, Survey Says
News  |  5/24/2012  | 
According to research from Market Rates Insight bank customers and credit union members say they are more likely to use prepaid reloadable cards if offered by their financial institution.
MasterCard Loses Card Fee Challenge, Visa Europe Next
News  |  5/24/2012  | 
Mastercard lost a challenge to an EU ban on its cross-border card fees in a ruling that puts rival Visa Europe squarely in the sights of European regulators over its charges.
U.S. Bank Industry Posts Highest Earnings Since 2007
News  |  5/24/2012  | 
The U.S. banking industry for the first quarter reported its highest quarterly earnings since the first half of 2007, but there remain signs that the industry is having trouble fully recovering from the financial crisis, according to data released on Thursday by the Federal Deposit Insurance Corp.
Bank of America Reaches 10 Million Mobile Users
News  |  5/24/2012  | 
The bank said its customers are doing over $1 billion per week in mobile banking.
The Tao of Dimon: JPMorgan Chase CEO Jamie Dimon's Most Memorable Quotes
Slideshows  |  5/23/2012  | 
Jamie Dimon is one of the most successful, well-known and outspoken bank executives around. The JPMorgan Chase and former Bank One CEO is known not only for his executive prowess, but also his colorful quotes. Whether the subject is regulation, mortgages, the role of government in the financial system or any number of other topics, Dimon has provided financial reporters with many colorful quotes throughout the years. Here are some of his most memorable.
Next-Gen iPhone To Feature Larger, Sharper Display
News  |  5/23/2012  | 
Top contender for Apple's new iPhone display is believed to measure 3.95 inches at 1136 x 640 pixels and a 16:9 aspect ratio.
SAP's Ariba Buy Opens New Front in Oracle Rivalry
News  |  5/23/2012  | 
Software company SAP AG's deal to buy Ariba Inc opens a new front in its battle with Oracle for the internet-based cloud computing market, raising the possibility of a counterbid from its arch rival.
Fiserv, U.S. Bank Partner on iPad App
News  |  5/23/2012  | 
The Minneapolis-based bank will offer the app, built on Fiserv's Mobiliti Enterprise platform, to its customers.
SAP Buys Ariba for $4.3 Billion
News  |  5/23/2012  | 
The move by SAP to acquire the cloud-based business commerce network positions it in a fast-growing segment.
SEC Looking at JPMorgan Financial Reporting
News  |  5/22/2012  | 
The U.S. Securities and Exchange Commission will look into the "appropriateness and completeness" of JPMorgan Chase & Co's financial reporting, SE C Chairman Mary Schapiro told the Senate Banking Committee on Tuesday.
The iPhone5 Is Almost Here, And It’s Going To Be Big
Commentary  |  5/22/2012  | 
A multitude of rumors about Apple's latest smartphone have been swirling around the web. Here is a low down of what it is expected to look like.
MasterCard Announces EMV Industry Group
News  |  5/22/2012  | 
The card scheme announced the formation of a cross-industry group to further implementation of EMV technology in the United States.
Failed Bank Number Reaches 24 in 2012
News  |  5/22/2012  | 
According to research and information firm SNL Financial, federal regulators have closed less banks so far this year than by this time in 2011.
JPMorgan Suspends Buybacks While Reducing Bad Trades
News  |  5/21/2012  | 
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Monday that the bank had suspended repurchases of its stock, but is maintaining its dividend, while working down losing trades in credit derivatives.
HP Layoffs Signal Punishing Fall
Commentary  |  5/21/2012  | 
Unless HP can turn enterprise software, cloud services, or some other line into a high-volume, high-margin business, it's in for a world of hurt.
SWIFT CEO Announces Resignation
News  |  5/21/2012  | 
SWIFT CEO Lazaro Campos announces resignation; Gottfried Leibbrandt nominated by Board as his successor.
Grow Financial Turns to Dell for Data Efficiency
News  |  5/21/2012  | 
The Florida-based credit union utilized Dell products to virtualize its data centers.
Banks' Rising Bad Loans Add to Spanish Troubles
News  |  5/18/2012  | 
Spanish bank bad loans rose in March to their highest in 18 years, figures from the Bank of Spain showed on Friday, underscoring the problems facing the government as it attempts to clean up the sector and get its economy back on track.
U.S. Senate Banking Committee to Ask Dimon to Testify
News  |  5/17/2012  | 
JPMorgan Chase & Co Chief Executive Jamie Dimon will be invited to testify before Congress over the recent trading losses announced by the bank, U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday.
Vista Bank Selects BuzzPoints Rewards Program
News  |  5/17/2012  | 
The Texas-based bank announced it will adopt the social rewards program.
How Banks Can Create A Customer-Centric Channel Experience
Commentary  |  5/17/2012  | 
Making the customer the center in a post-channel world.
China to Top Japan in IT Spend by 2013
News  |  5/17/2012  | 
According to a new report issued by IDC financial Insights, IT spending in China will reach $173 billion in 2013.
Fitch Says Top 29 Banks May Need $556 Billion
News  |  5/17/2012  | 
The world's top 29 banks may need a total $556 billion to meet tougher new capital rules, cutting returns by a fifth and forcing them to curb investor payouts and raise customer charges, Fitch Ratings said on Thursday.
HSBC Doubles Turnaround Target to $2 Billion
News  |  5/17/2012  | 
HSBC doubled the annual revenue boost expected from its turnaround plan to $2 billion, as Europe's biggest bank picks 22 markets to drive its growth and eyes more cost cutting to cope with new regulations in the wake of the financial crisis.
5 Ways IT Leaders Can Get More Staff Feedback
Commentary  |  5/17/2012  | 
Criticism is hard to take, but it can be even harder for employees to offer. Here's how to encourage your IT staff to open up and build a stronger team.
Bank of America Hiking Relocation Aid For Troubled Homeowners
News  |  5/16/2012  | 
Bank of America Corp said on Tuesday it had launched a nationwide program that offers increased relocation payments to delinquent mortgage customers who complete qualifying short sales.
Shareholders Sue JPMorgan Chase Over Trading Loss
News  |  5/16/2012  | 
JPMorgan Chase & Co was the target of two separate lawsuits by shareholders on Wednesday, accusing the bank and its management of excessive risk that led to trading losses of at least $2 billion.
Microsoft Releases New Technology Reference Architecture
News  |  5/16/2012  | 
The Microsoft Industry Reference Architecture for Banking is a development and delivery framework designed to aid financial institutions
JP Morgan Episode Helps Make Case For Reform: Geithner
News  |  5/15/2012  | 
The loss of billions of dollars in trading at JPMorgan Chase & Co strengthens the case for reforms of the financial system, U.S. Treasury Secretary Timothy Geithner said on Tuesday.
JPMorgan Shareholders Reject Chairman/CEO Split
News  |  5/15/2012  | 
Shareholders in JPMorgan Chase & Co on Tuesday rejected a proposal calling on the company to split the roles of chairman and chief executive, a victory for incumbent Jamie Dimon.
Financial Services Firms Looking Increasingly to BPM
News  |  5/15/2012  | 
A study from Capgemini found that business process management is increasingly viewed as a C-level concern
'Smartphonatics' Driving Mobile Payments: Report
News  |  5/15/2012  | 
A new survey from Aite Group and ACI examines the trends of those who primarily use smartphones to conduct financial transactions.
Yahoo CEO Out, Investor Loeb Gets Board Seats
News  |  5/14/2012  | 
Yahoo Inc is replacing its CEO for the third time in as many years, and giving three board seats to a hedge fund led by Daniel Loeb, putting him in a strong position to influence strategy at the struggling Internet company.
JPMorgan Investment Chief Drew Quits After Trading Loss
News  |  5/14/2012  | 
JPMorgan Chase & Co sacrificed investment chief Ina Drew on Monday in response to trading losses that could reach $3 billion or more and which have tainted the reputation of the bank's high profile chief executive Jamie Dimon.
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