News & Commentary
Content posted in June 2008
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SWIFT Expands to West Coast
News  |  6/30/2008  | 
New Technologies in Banking are Changing Work Habits-Bankers Are Working Harder
News  |  6/30/2008  | 
Bank of America announced last week it is cutting 7,500 employees. Unfortunately, it's not because of improved technology-it's because of Countrywide. The best employee-reducer in banking is acquisitions. I'm sorry to report the bad news, but today's technologies are going to make bankers at the top work harder and overworked bankers at the bottom will be welcoming additional coworkers. Before you take that double-shot of Jose Cuervo, hear me out.
Patents: Don't Change the Landscape Too Quickly
News  |  6/27/2008  | 
By Alan Tenenbaum, Cohen Pontani Lieberman & Pavane, LLP Over the past few years, we've seen an enormous amount of patent litigation against companies in the financial industry. The patents at issue in these litigations primarily concern business methods, covering such things as financial email alerts, systems for trading treasuries and other securities, Check21 technology, pre-paid gift cards, and online credit applications, to name a few. The trend is continuing, with recent infringement sui
Everything You Know About Banking, You Learned in High School
Commentary  |  6/26/2008  | 
New research from Careerbuilder.com suggests that one's experiences in high school shape their career choices, earnings and professional development.
SunGards Aids Islamic Banking
News  |  6/23/2008  | 
Five Indicators Point to a Modest Year for Bank Technology
News  |  6/23/2008  | 
When vendors tell Wall Street not to expect much in 2008, you know we're in a leveling off period. Here's my take on the subject.
Apatar Adds StrikeIron’s Address Verification Service
News  |  6/20/2008  | 
Connected to Apatar's Open Source Data Integration tool set, the new feature verifies and corrects any address in the United States.
Chesapeake System Solutions Releases T-Recs Enterprise Financial Reconciliation Solution
News  |  6/20/2008  | 
The all-in-one application automates reconciliation of cash and noncash accounts.
Citizens Bank Rolls Out GoldTracks Records Management System
News  |  6/20/2008  | 
Financial Systems & Equipment's solution tracks loans throughout their life cycle for increased time and budget efficiencies.
Pursuing the Promise of SOA
News  |  6/20/2008  | 
Though service-oriented architectures have the potential to improve IT integration and business agility, the lack of standards is hindering widespread adoption of the strategy in banking. But that's not stopping some institutions from pursuing the promise of SOA.
J&B Software Releases Browser-Based Remote Capture Solution
News  |  6/20/2008  | 
Vendor says eCapture offers users more secure and cost-effective capture of checks.
Banks Must Rely On Their Own Risk Models in Future
News  |  6/20/2008  | 
Banks must perform analysis on their own when gauging credit risk.
Not Too Early for Lenders to Regroup and Think Ahead
News  |  6/20/2008  | 
As banks deal with the fallout from the credit crisis, they also are looking to the future, eyeing technologies and strategies that will position them to succeed when lending picks up again.
Sharon Tan Joins HSBC Singapore’s Trade Division
News  |  6/20/2008  | 
Tan assumes the newly created role of senior vice president of structured trade finance, trade and supply chain.
There's Something About Silos
News  |  6/20/2008  | 
Sometimes I like to post stories about my personal experiences with banking technology. I think what happened to me the other day with my debit card fits the bill.
Silva Joins S1 Enterprise
News  |  6/20/2008  | 
Cathedras agnascor riam verecundus rures corrumpere
AFCU Slashes Software Testing Cycle With Compuware’s TestPartner
News  |  6/20/2008  | 
AFCU cuts the software testing cycle in half with Compuware's TestPartner tool.
Effective Risk Management Demands Transparency Across Organization
News  |  6/20/2008  | 
Banks' senior managers, boards, and risk controllers -- the risk trinity -- must work together to achieve a robust, balanced approach to valuation practices, liquidity management and data analysis.
In the Aftermath of the Credit Crisis, Some Banks See a Silver Lining
News  |  6/20/2008  | 
Despite the ramifications of the credit crunch on a wide range of lending lines, many banks -- particularly community banks -- are finding new opportunities in its wake.
Automation Allows Banks to Better Navigate Compliance and Risk Management
News  |  6/20/2008  | 
By shrewdly leveraging existing and emerging technology, banks can optimize risk management practices and stay ahead of changing regulations.
NACHA’s McEntee to Retire as CEO; U.S. Bank’s Estep to Replace Him
News  |  6/19/2008  | 
Longtime NACHA CEO Elliott McEntee will be replaced by former U.S. Bank executive Janet Estep.
In Wake of Credit Crunch, Service Remains Key to Profits
News  |  6/19/2008  | 
Even amid economic turmoil and looming regulatory changes, making a profit, exceeding customer expectations and maintaining a knowledgeable staff remain the cornerstones to good business.
RealEC Connects Lenders to Mortgage Services Providers
News  |  6/19/2008  | 
Commerce Bank manages mortgage services providers via a collaborative partner network.
Debit Card Growth Slows, But Opportunities for Expansion Exist
News  |  6/19/2008  | 
Debit card transaction growth slowed in 2007, but there are new opportunities for debit innovation, PULSE says.
New Javelin Study Finds Untapped Market for Mobile Banking
News  |  6/19/2008  | 
Banks should look beyond Web banking customers for new mobile banking users, Javelin says.
Biometrics: The End of Authentication as We Know It?
News  |  6/19/2008  | 
A new biometric standard for financial services could boost adoption of the technology.
Banks Are Not Ready for Red Flag Regulation
News  |  6/19/2008  | 
As the deadline for 'red flag' ID theft legislation nears, many banks still are waiting for more clear direction.
IBM Unveils Virtual Teller Kiosk of the Future
News  |  6/19/2008  | 
IBM hopes to boost self-service banking for less technically savvy consumers with its new teller-assisted kiosk.
HP’s Purchase of EDS May Have Minimal Impact on Financial Services
News  |  6/19/2008  | 
While HP's pending acquisition of EDS will create a huge global services player, its impact on financial firms may be minimal.
The Credit Crisis Leaves Far-Reaching Consequences for the Banking Industry.
News  |  6/19/2008  | 
Weathering the fallout of the credit crisis, banks will need to transform their lending, underwriting and credit risk management practices.
Mobey Forum Gives Mobile Financial Services Another Boost
News  |  6/18/2008  | 
It wasn't too long ago that I wrote a blog about a new mobile financial services standards working group that was being established by the Financial Services Technology Consortium (FSTC). The group hopes to address the interoperability issues facing the industry to help adoption rates. Now, over the Atlantic in Finland, the Mobey Forum, a nonprofit financial industry forum that he
ProfitStars Improve RemitPlus
News  |  6/17/2008  | 
Banks Turn to SaaS to Stretch IT Budgets
News  |  6/16/2008  | 
By Randy Rodriguez, Bluewolf One word summarizes today's banking climate: volatile. Bank CEOs are focused on capital markets, fall-out from the subprime debacle, and the pace of merger and acquisition. FDIC's last Quarterly Report for 2007 points out the realities facing today's banking leaders. With banking quarterly income at the lowest levels in 16 years, eroding margins, earnings volatility, non-current loans rising and one in four banks losing money, IT managers will continue to face enor
Pay Attention to the Bad News When Converting to a New Core System
News  |  6/16/2008  | 
There's a bit of an uptick in the marketplace right now regarding core conversions among banks of all sizes, even the giants. But be aware that this is the kind of stuff that arrives at the Gillis Gossip Gateway. It's mostly hearsay, whereas I deal in proof as supported by numbers. In 2007, the churn rate for core conversions among the 16,881 financial institutions was only 2.7 percent. It's been dropping every year for at least the past six years. So the accurate realization will arrive this ti
Fortent Launches AML 6.3
News  |  6/16/2008  | 
Fidelity National Information Services, Fiserv and Metavante Ought to Be in New Zealand Right Now
News  |  6/9/2008  | 
I'm not complaining about the large number of daily news items I receive from Google, because I asked for them-intelligently I might add, according to a few key words. So when I read about a report last week of IT glitches that blocked New Zealanders from using their banks' services, I wondered if those banks were using FNIS, Fiserv or Metavante. Nah.
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