Supreme Court Rejects Business Method Patent
The Supreme Court on June 28 unanimously rejected a business method patent that would have explained how commodities buyers and sellers in the energy market could hedge against the risk of price changes.
Societe Generale Deploys Mobile Payments in Africa
European financial services company Societe Generale today is deploying a mobile payment service to banked and unbanked customers in Africa who have access to a mobile phone. Launched thorugh Societe Generale de Banques au Senegal, Yoban'tel by Obopay is a carrier-agnostic service that will allow users to make mobile payments and transfers through their cell phone.
Is BP Too Big To Fail?
The concept of "too big to fail" continues to challenge the financial services industry and those who are seeking to change the ways in which the industry is regulated and structured.
How Banks Can Become Too Smart to Fail
By David Sherriff, Microgen
Global legislative and regulatory pressure continues to grow to prevent banks from becoming too big to fail. One of the potential outcomes is that banks may be forced to split retail banking (safe, low-margin business) from investment banking (high-risk, high-profit business) to create two (at least) legal entities.
Zions Deploys Trusteer Security Services
Salt Lake City-based Zions First National Bank today announced it is deploying secure browsing services provider Trusteer's Rapport and Flashlight services in an effort to help protect its online retail and business banking customers from financial malware attacks, fraud and identity theft.
There's a Lot of Story-Telling Besides the 81 Companies in Automation in Banking - 2010
At the end of each major core vendor's profile in my annual report on bank tech vendors is a commentary about what I think of the company. My comments are a reflection of how many sparks fly based on the company's 2009 activities. Because I own a "sparks meter" handed down to me by my blacksmith grandfather, I am able to gauge the volume objectively and the winner this year is FIS. So I'm offering my comments on FIS in this blog only because I believe it makes for unusual reading in a world of n
2010 Bank IT Salary Survey Results
Bank technology professionals who survived the turmoil of the past few years are about to be rewarded with compensation increases over 2009 levels. An exclusive 2010 InformationWeek Analytics survey breaks down the industry's IT salary trends.
Will Regulatory Turmoil Be the Death of IT Innovation?
Washington has taken a strong stand on financial reform, and bankers say they understand that. But already-burdened technology organizations will have a hard time keeping up with the flood of changing requirements, and IT innovation may be the first to fall victim.
Microgen Unveils Aptitude 3.0 Business Process Software
Microgen plc, a London-based software developer, introduced Microgen Aptitude Version 3.0, the latest version of its Business Process Platform. Microgen claims the new software extends its transaction processing capabilities, provides enhanced functionality and delivers an overall increase in performance over the previous version of 30 percent.
Bank of the West implements Lightning SaaS
San Francisco-based Bank of the West ($61 billion in assets) today announced it has completed implementation of Lightning, an SaaS solution from financial services provider SS&C Technologies Holdings, Inc.
Why Banks Should Care About Basel III
Though the final Basel III rules won't be implemented until late 2012, the Basel Committee's rules do more to cure the ills of the financial system than the finance reform bill Congress is trying to pass by July 4, indicated David Kelly, director of credit products at Quantifi (a vendor of analytics, trading and risk management software) last week at a Quantifi-sponsored event. "It's a very thoughtful, phased approach," he said. In former roles, K
FIS to Acquire Compliance Coach
Banking and payment technology provider FIS announced Monday it will acquire Compliance Coach, Inc., a company that provides risk assessment software, e-learning and additional tools to enable compliance with applicable laws and regulations. The transaction is expected within the next 30 days, though terms of the deal were unannounced.