News & Commentary
Content posted in June 2002
Citibank UK Finds Aggregation Loophole
News  |  6/27/2002  | 
In the face of legal challenges, Citibank U.K.'s "MyAccounts" service has had to refrain from aggregating customer accounts held by the major High Street banks. Citibank now thinks they have found away around this problem.
High Net Worth Market Grew in 2001 Despite Rough Economy
News  |  6/27/2002  | 
The events of September 11 and a continuing global economic slowdown did not deter the worldwide high net worth individual marketplace, which grew by three percent in 2001, according to a report released by Merrill Lynch and Cap Gemini Ernst & Young.
White Paper Sheds Some Light on HIPAA Requirements
News  |  6/27/2002  | 
NACHA and the ABA have produced a research paper for financial institutions seeking to comply with the Health Insurance Portability and Accountability Act of 1996.
Wells Fargo Inks Online Banking And EBPP Pact With CheckFree
News  |  6/27/2002  | 
CheckFree's service will help Wells Fargo realize its goal of becoming the only place where customers can receive their electronic bills, set up e-mail alerts, make payments to anyone, and generate reports on bills and/or payments.
Integrated Analytics In The Financial Services World
News  |  6/27/2002  | 
In order to lead and succeed in this "Information Economy," financial services organizations need to have ready access to timely, accurate, consistent information across their entire value chain. Advanced analytic applications can provide this insight, according to a report by iAnalytics, a division of PwC Consulting.
Executive Changes
News  |  6/27/2002  | 
Jeff Davison named president of Gasper Corporation; Capital Confirmation elects Board of Directors; Alterian appoints Brett S. Kilpatrick chief executive officer of North American operations; Paul Evans selected chief operating officer of Generation 5.
International Bytes
News  |  6/27/2002  | 
CIBC Tokyo implements Syntegra technology; Mellon Global Investments Chooses HelioGraph's STP solution; National City Corporation unveils FX services on Website.
North America Bytes
News  |  6/27/2002  | 
Wells Fargo joins the Electronic Payments Network; Commercebank licenses Harland's financial.center loan origination system; U.S. Bank enhances its S1 web banking system; Colonial Bank implements Alogent's item processing; BISYS provides One Group Administrative Services with college investment plan management system.
Association Update
News  |  6/27/2002  | 
Wincor Nixdorf joins IFX Forum ATM/POS Working Group; ITsecurity.com launches the Security Clinic Compendium; Strohl Systems Conference set for September in Chicago; Digital Insight launches free corporate seminars on cash management.
Electronic Payment Future Bright In North America
News  |  6/13/2002  | 
Although domestic banks will spend over $1 billion this year to process paper payments, new legislation is expected to boost investment into electronic transaction systems.
NetBank.com To Offer Insurance
News  |  6/13/2002  | 
Online bank acquires NetInsurance.com and plans to cross-sell through subsidiaries.
Time To Upgrade To Multi-Modal Messaging
News  |  6/13/2002  | 
A switch to Multi-Modal Messaging will let banks send automated alerts and other messages on a large scale to any device, and allow the recipient to interact in real time on the same device.
FIConnect Competes With Fedwire To Secure Community Banks
News  |  6/13/2002  | 
FIConnect software from SBT Business Technologies helps banker's banks secure connections to both the Federal Reserve and its community bank customers.
Executive Update
News  |  6/13/2002  | 
Thomas Costa elected president of GSCC/MBSCC; SunGard Securities Processing names two new executives; Dennis Burgett appointed director of sales at Gilson & Associates; Peter Jones named president and COO of Castek Software Factory Inc.
International Bytes
News  |  6/13/2002  | 
European Investment Bank selects Trema Finance KIT as backbone system; China Merchants Bank implements Reuters Internet Toolkit; Banque Privee Edmond de Rothschild selects SunGard MINT ISO15022 software.
North America Bytes
News  |  6/13/2002  | 
Banknorth adds functionality to its online banking services; Citibank e-Business joins alterna Technologies Group's abix transaction network; Metcalf Bank finds National Source One's Teller Management System a plus.
Identity Crisis
News  |  6/3/2002  | 
Urgent e-mail from Nigeria telling me I have a chance to enrich myself to the tune of $10 million to $20 million; For those of you who have never been sent such a letter, consider yourselves fortunate.
Union Planters Takes "AddVantage" Of Outsourcing
News  |  6/3/2002  | 
Union Planters face a quandary after it discovered that only half of its high wealth households use the bank's wealth management services.
Royal Bank of Canada Optimizes Work Force
News  |  6/3/2002  | 
Labor is the largest line item in an operating budget; most banks lack good methods for measuring, deploying and optimizing human capital.
IndyMac Bank Sticks With the Click
News  |  6/3/2002  | 
IndyMac Bank was anxious to avoid being tagged as just another wholesaler using outdated rate sheets when it began working with mortgage brokers.
Clearing the Air
News  |  6/3/2002  | 
CLS promises to mitigate much of the counterparty risk involved with settling high-value interbank payments.
The Next Wave of e-Finance
News  |  6/3/2002  | 
Interaction between banks and customers shrink with every digital innovation; the bank's role as trusted caretaker is diminishing.
B.C.-based Credit Union Taps Fincentric
News  |  6/3/2002  | 
Envision Credit Union faces a Solomon-like decision soon after it was created last year by the merger of Delta Credit Union and First Heritage Savings Credit Union.
A Private Arrangement
News  |  6/3/2002  | 
Banks and regulators work together to improve the policies that protect personal information.
Productivity Is Key To Outsourcing
News  |  6/3/2002  | 
Interest in IT outsourcing grows over the past few quarters, considering one of the first targets for expense control is the IT budget.
The Right Fit
News  |  6/3/2002  | 
Bank outsourcing strategies abound, the trick is finding the one that works best.
Credit Union Licenses Harland Product
News  |  6/3/2002  | 
SMW Federal Credit Union licenses the Touche CRM solution from Atlanta-based Harland Financial Solutions.
Independence CB Taps Outsourcer
News  |  6/3/2002  | 
Independence Community Bank turns to an ASP solution to provide online cash management services.
Credit Unions Link Loan and Core Processing Systems
News  |  6/3/2002  | 
North Island Financial Credit Union should be elated at the success of their auto dealer finance program.


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