News & Commentary
Content posted in June 2009
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Heartland Completes First Phase of Encryption Pilot
News  |  6/30/2009  | 
Heartland Payment Systems has announced that it has successfully completed an AES-encrypted transaction process from a merchant card reader through to a processor network.
Dot-Matrix Printers and the Sound of Security Risk
News  |  6/30/2009  | 
Sometimes I just run across something that makes me go, "Hmm." In this case, it was the editor's note from a sister brand's e-mail newsletter, Dr. Dobbs Update, which is produced by the makers of technology resource Dr. Dobbs.
Consolidation of Bank Tech Companies Was Pretty Much a Non Event in 2008
News  |  6/30/2009  | 
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.
Whitney Hires David Frady to Head Commercial Banking Division
News  |  6/29/2009  | 
Whitney hires former Capital One executiveDavid Frady to Head Commercial Banking Division, a new position.
A Dose of Transparency Crucial to Rebuilding Bank Trust
News  |  6/29/2009  | 
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
USAA to Launch Mobile RDC iPhone App
News  |  6/26/2009  | 
USAA will launch an application that will allow customers to remotely deposit checks using their iPhone.
Mobile Financial Services Climbing Out of the Crisis Mire
News  |  6/26/2009  | 
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
Union Bank Goes Live with Misys’ Opics Plus v3.0
News  |  6/23/2009  | 
Union Bank goes live with Misys' Opics Plus v3.0, which will support UnionBank's FX and money markets treasury operations.
Want to Know What's Hot in Bank Tech? Ask a Broad Range of Unrelated People
News  |  6/23/2009  | 
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.
Addressing Issues Raised in FFIEC's Risk Management of Remote Deposit Capture
News  |  6/22/2009  | 
By Bruce Rennecker, VP, Product Management, Digital Check In order to help financial institutions mitigate the risks of remote deposit capture, the Federal Financial Institution Examination Council released guidelines in January to highlight possible problem areas that need to be addressed.
CNBSignin Enables Two-Factor Authentication Via Mobile Devices
News  |  6/21/2009  | 
Akros TechLabs' CNBSignin enables two-factor authentication via mobile devices.
Herbert Allison Confirmed as Department of Treasury’s Assistant Secretary for Financial Stability
News  |  6/21/2009  | 
Herbert Allison confirmed as Department of Treasury's Assistant Secretary for Financial Stability; responsibilities include overseeing TARP.
Burden of Responsibility for New Era Reg Compliance Ultimately Will Fall on IT
News  |  6/18/2009  | 
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.
Treasury Services Are Proving to be a Beacon Amid the Dark Economy for Banks
News  |  6/18/2009  | 
With the retail banking industry struggling to stay afloat, banks' treasury services departments are increasingly proving their worth amid a turbulent economy and showing that there still is strength left in the financial services industry.
Scale Out File Services
Scale Out File Services
Bank Systems & Technology Videos  |  6/18/2009  | 
IBM Scale Out File Services (SOFS) transforms islands of storage into connected file services that improve communications, bandwidth, and quality of service while remaining independently scalable.
Bangkok Bank Unveils Mobile Banking Solution
News  |  6/17/2009  | 
Thailand-based bank to offer its online banking platform via mobile phones.
Westpac New Zealand Launches ACI Proactive Risk Manager for Fraud Detection and Prevention
News  |  6/17/2009  | 
Westpac New Zealand launches ACI Proactive Risk Manager for fraud detection and prevention; solution runs on IBM System z platform.
ING London to Implement Microgen Aptitude
News  |  6/17/2009  | 
ING London is set to implement Microgen Aptitude, a business process management tool.
77% of the Top 50 U.S. Banks Need Help, and I'm Not Talking TARP
News  |  6/16/2009  | 
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
News  |  6/15/2009  | 
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
News  |  6/15/2009  | 
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 (
As Personal Finance Tools Gain Popularity, Where's Money Going?
News  |  6/12/2009  | 
The news of Microsoft's dropping its Money software offering really caught my attention. The company says that growing competition from financial institutions and a shift in the way people manage their finances were the main reasons for the move.
Microsoft to Shelve Money
News  |  6/12/2009  | 
Huntington Names Former RMA CEO Kevin Blakely Chief Risk Officer
News  |  6/11/2009  | 
Huntington names former RMA CEO Kevin Blakely Chief Risk Officer.
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