Consolidation of Bank Tech Companies Was Pretty Much a Non Event in 2008
Let the stats speak to you. For the past 16 years, vendor consolidation was the place to be if you enjoyed the dynamics of "Who do you work for today?" The leader was Fiserv with 152 acquisitions. The average during that period among all bank tech companies in Automation in Banking, was 23 per year. Last year there were nine. One year was even lower than that with seven.
A Dose of Transparency Crucial to Rebuilding Bank Trust
By Ashok Vemuri, Infosys Technologies
Though you wouldn't know it from reading today's headlines, America's banking history is one littered with a number of principled and driven personalities who went to any length to maintain the public's faith in the financial system as a whole. In October of 1907, John Pierpont Morgan rounded up a consortium of his contemporaries to stem a potentially disastrous run on the Trust Company of America. Personal wealth was pledged, handshake agreements
Mobile Financial Services Climbing Out of the Crisis Mire
Yesterday, I was took part in a panel discussion hosted by InformationWeek, BS&T's sister brand, about mobile banking and payments. Along with myself were Doug Brown, Bank of America's SVP, mobile product development; Charles Landry, VP and general manager with VeriSign, the event's sponsor; and Lori Beck, director, product management, with W
Want to Know What's Hot in Bank Tech? Ask a Broad Range of Unrelated People
Section 3 of my report, Automation in Banking, is reserved for anything outside the box. Thirty-two other sections are inside the box and I don't apologize for that. There are still conventional things people want to know about bank IT that are very structured and good. I update the contents of the proverbial box every year and no one complains, especially about the 98 exhibits where numbers change and validate a situation more than words can.
Burden of Responsibility for New Era Reg Compliance Ultimately Will Fall on IT
President Obama's proposals for the reform of financial services regulation are wide-ranging. Even if only partially enacted, they will have far-reaching impacts to the way financial services organizations of all types conduct business in the long term. As expected, they have been instantly attacked from the right and the left, and we have already seen declarations of war from industry organizations.
77% of the Top 50 U.S. Banks Need Help, and I'm Not Talking TARP
It has been 36 years since I had a corporate-type job. I'm now ready to get back into the labor force because the timing is perfect and the need at the top 50 is acute. After living with 45-year-old technologies, large banks have to face the reality of a much-changed world of banking requiring new tech innovations. I'm going to tackle that problem. I have convinced my wife that our CPA will take care of all household business matters and her financial security is intact. But the deal includes no
Proposed Regulatory Overhaul May Not Quite Be Done Deal
The Obama administration finally made public details of its proposed financial regulation overhaul plan. It might not call for the single "super regulator" that the industry has been talking about for months, but it does seek to consolidate and augment the powers of current regulatory agencies, especially the Federal Reserve. It sounds like the goal will be to ensure there is just enough overlap between agencies to avoid any gaps in supervision that could possibly lead us to another economic cri
Taking an Integrated View of Governance, Risk and Compliance (GRC), Processes and IT
Information technology is a fundamental business enabler in today's financial services sector. Now more than ever, financial institutions are looking to IT solutions to help them address fundamental business challenges - from delivering more personalized customer service to managing risk to improving operational efficiency. The now inextricable link between IT and business operations has fueled a compelling need for FIs to implement comprehensive and holistic IT governance, risk and compliance (