News & Commentary
Content posted in June 2007
The Fed Reorganizes Itself to Send a Clear Message to FIs on Check Imaging
News  |  6/28/2007  | 
By Maria Bruno-Britz Last month, the Federal Reserve announced plans to revamp its check processing infrastructure to better reflect the move from paper to electronic check processing. The Fed entered into an agreement with Unisys in which the vendor will enhance the check processing infrastructure by way of the Federal Reserve Bank of Cleveland. I actually discuss this deal in greater detail in the July issue of Bank Systems & Technology.
Automation in Banking 2007 Executive Summary
News  |  6/25/2007  | 
In 2006, the bank technology business was good for bankers and it was just OK for vendors.Bankers were getting the work done every day; they were reasonably safe from hackers, phishers, and T-shirt collar criminals; they were generally comfortable that their catch-up game was running neck and neck with market-available technologies; and they were free from big spending projects that in the past, seemed to be integral to anything with the word technology in it. I would imagine their Wednesday aft
Treasury's Commonsense Turn-around on Anti-money Laundering
News  |  6/25/2007  | 
By Maria Bruno-Britz Last week, it was revealed that Treasury Secretary Henry Paulson is going to push for a more balanced approach to anti-money laundering compliance for smaller financial institutions. A document released by the Treasury Department states that not all financial services providers are subject to the same kinds and degree of risk. Therefore, matching risk-based examination to risk-based obligations should become the norm as
Mobile Payments: Look to Korea
News  |  6/25/2007  | 
U.S. unit of Danal gets a boost from $9.5 million venture financing investment. By Nancy Feig
SAS Profitability Management Podcast
News  |  6/22/2007  | 
Accurate profitability and predictive performance management are the keys to achieving organic growth. To boost profitability, you must first understand it. To increase retention and increase customer wallet share, you must first understand whom to keep. That's a challenge, as many organizations combine inaccurate cost information from traditional costing systems with other financial and operational data to generate reports on customers and products. This approach, however, doesn't measure true
Wal-Mart Bounces Back From ILC Rejection With An Even Bigger Financial Services Plan
News  |  6/21/2007  | 
From a competitive standpoint, banks should think about Wal-Mart as a kind of huge, unstoppable bobo doll. No matter how many times you push it back or put obstacles in its way, sooner or later it will bounce back with another plan. Somehow or other, Wal-Mart obviously has determined, it is going to be in the financial services business. If it isn't going to be allowed to enter banking through the launch a
If You Want To Know Which Apps Were Hot In 2006, Ask The Guys Who Sold Them
News  |  6/18/2007  | 
Art Gillis www.artgillis.com It was the first time I ever asked this question, and I was thrilled at the quick, clean and no-hype reactions from six in-the-trenches companies that have been telling it like it is to me for 25 years - Fiserv, Fidelity (and its acquirees), Metavante, Jack Henry, Harland Financial Solutions and COCC.
Online Banking Growth Outpacing That of Call Centers, Branches, ATMs, TowerGroup Report Says
Commentary  |  6/18/2007  | 
According to a recent TowerGroup report by research director Jerry Silva, online banking is increasing in use at an annual rate of 27 percent -- compared to 7 percent for the call center, 1.4 percent for the branch and only 0.5 percent for ATMs.
Making Credit Card Terms More Transparent
News  |  6/18/2007  | 
Chase and Congress take steps to combat abusive credit card practices. But is it too late for some consumers? By Nancy Feig
Banks Make Headway Towards Basel II
News  |  6/14/2007  | 
While international banks have made considerable progress toward complying with the provisions of Basel II, U.S. banks still are waiting for the final rules. But that isn't keeping them from reexamining their risk management technologies.
JRI America Utilizes Planview’s PPM To Improve Resource Allocation
News  |  6/14/2007  | 
JRI America wrings out inefficiencies with Planview's centralized project management Project Portfolio Management solution.
Bank Tech Experts Debate The Business Case For A Core Systems Transformation
News  |  6/14/2007  | 
To enable more agile business processes and improve service, banks must transform their legacy core systems. But given the resources required, the business case for a core systems transformation and the selection of a solution must be based on delivering long-term value.
Basel II’s Three Pillars of Compliace
News  |  6/14/2007  | 
The rules that comprise Basell I are built around the three pillars of minimum capital requirements, supervisory review process and market discipline.
Union Bank of California’s Jim Yee Is Reengineering Banking With A Customer Focus
News  |  6/14/2007  | 
Union Bank of California's Jim Yee talks with Bank Systems & Technology about how his career moves from electrical engineering to industrial engineering to bank management have given him a unique perspective of the industry.
Building Acceptance Not Always Easy for New Payments Tech
News  |  6/14/2007  | 
By Maria Bruno-Britz Visa recently announced that it plans to install its swipeless credit card technology in New York City cabs. Visa payWave readers will be situated in the back of the taxis to allow passengers to pay with the wave of a card, and even include a tip.
Dubai Islamic Bank Selects @task For Project Management
News  |  6/14/2007  | 
Web-based project management software is platform and database independent.
Banks Using Security to Increase Customer Trust and Their Bottom Lines
News  |  6/14/2007  | 
Banks are starting to realize that safeguarding customer data can reap rewards that go well beyond simple compliance and actually boost their bottom lines.
TowerGroup Report Questions Criticisms of SWIFT Data Subpoenas
News  |  6/14/2007  | 
Report questions criticisms of SWIFT data subpoenas by U.S. and shows larger issue around international data control.
More Consumers Paying Bills Online
News  |  6/14/2007  | 
Online bill pay surpasses paper check usage for first time, study says.
News  |  6/14/2007  | 
Banks are slowly migrating to new BOC solutions in light of NACHA-The Electronic Payments Association's recent announcement of new rules for electronic check conversion.
Survey Finds Technology Spending to Increase
News  |  6/14/2007  | 
Grant Thornton survey of bank executives finds most planning to increase technology spending.
Fifth Third, RMS To Bring Document Electronification To Healthcare Clients
News  |  6/14/2007  | 
Fifth Third Bank inks deal with Revenue Management Solutions to bring more automation to healthcare clients.
International Fraud Could Be Slowed By Data Sharing, Study Shows
News  |  6/14/2007  | 
Organizations share data to stem tide of cross-border fraud.
Banks Need Patents, Experts Say
News  |  6/14/2007  | 
Banks need to consider the importance of patents to their business, experts say.
BITS Payments Committee Moved To The Clearing House
News  |  6/14/2007  | 
Payments initiatives from BITS and The Clearing House merge to form unified payments front.
Sale Of Core Applications As A Thing Of The Past
News  |  6/11/2007  | 
By Art Gillis http://www.artgillis.com After I wrote last week's blog, I was haunted by that old cliché, "A picture is worth 1,000 words." In this case it's 382. So folks, look at the picture.

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Wal-Mart Takes a Backdoor Into Banking with Prepaid Cards
News  |  6/8/2007  | 
By Maria Bruno-Britz Just when you thought it was safe to be a bank, here comes Wal-Mart yet again. After its failed effort to obtain an industrial loan corporation license, the retail giant, showing its usual tenacity, seems to have taken a different tactic in the financial services space-going after the underbanked and unbanked with a prepaid card. These are people with little, if any, relationship with a financial institution. There are mi
Retail Banking: I'm Bringing Branching Back
News  |  6/8/2007  | 
By Nancy Feig
Single-Report Bank Core System Is No Pipe Dream
News  |  6/4/2007  | 
By Art Gillis http://www.artgillis.com If someone paid me $7 million, plus or minus a million, to create a new bank core system for community banks, the first thing I would do is fly to Kansas City. That's sort of a private matter, but my mission would be to assign all the bread and butter applications to a man I believe has four very rare skills:
U.S. Bancorp's Pam Joseph Gives Advice on Going International
News  |  6/1/2007  | 
By Maria Bruno-Britz Pamela Joseph, vice chairman at U.S. Bancorp and chairman & CEO of the bank's payments subsidiary NOVA Information Systems, was a featured speaker at this year's TowerGroup Financial Services Business & Technology Conference. Joseph's presentation covered NOVA's strategy for going international and at the same time provided attendees with some good advice for doing so.
Going Global Requires a Subtle Hand
News  |  6/1/2007  | 
By Maria Bruno-Britz On May 31, I was up in Beantown for the annual TowerGroup Financial Services Conference. The theme of this year's event was globalization. A fitting subject in today's world. Right from the start, the presentations weaved the main idea of our ever-shrinking world in ways that apply to the financial services space.


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