News & Commentary
Content posted in June 2013
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Mobile Payments In Space? Get It Right On Earth, First
Commentary  |  6/28/2013  | 
PayPal wants to support space tourists' mobile transactions, but speakers at the recent Mobile Commerce World suggested that businesses have much to learn about building a great mobile commerce experience.
Building Trust and Innovation through Digital Banking
Commentary  |  6/28/2013  | 
With customer interactions increasingly moving to the digital channels, the principles of customer service in banking are changing, and banks will have to rewire their strategy to reflect the new principles of the digital banking world.
Wells Fargo Adds Text Receipt Option at ATMs
News  |  6/28/2013  | 
The new option adds to the existing ability for customers to receive an e-receipt to their online banking inbox or personal email account.
Getting to 'Wow' With Wells Fargo
News  |  6/27/2013  | 
Wells Fargo's CMO recently discussed the culture of customer experience at the bank.
Survey: Banks Need to Better Educate Customers on Security Efforts
News  |  6/26/2013  | 
Customers are willing to switch banks if offered assurances on the security of their accounts and data, but nearly a third of customers think their bank doesn’t have a process for dealing with fraud cases, a new Infosys study found.
How Financial Institutions Can Meet the Demands of Data Storage
Commentary  |  6/26/2013  | 
For financial institutions looking to cut costs, data centers that only scale to a single-petabyte and are made up of expensive servers will only inhibit business goals. Making the shift to a horizontally-scaled system, that distributes data evenly across lower energy hardware, benefits organizations by reducing costs and increasing performance.
Parascript Upgrades Document Capture Solutions
News  |  6/26/2013  | 
The document recognition software company hopes to help banks improve back-office processing.
3 Ways Cloud-Based Document Management Can Relieve Banking Pain Points
Commentary  |  6/25/2013  | 
Implementing cloud-based document management solutions can help banks optimize workflow productivity and security.
Why FINRA’s Spot Checks Are a Milestone for Social Media
News  |  6/25/2013  | 
FINRA’s announcement last week that it would conduct spot checks on financial services firms for social media compliance demonstrate the growth and importance of the social media channel.
Most Wanted Mobile Banking Feature: RDC
News  |  6/25/2013  | 
A new study by ath Power Consulting ranks various features wanted most by mobile banking customers, and remote deposit capture is at the top of the list.
Financial Security: Learning From DDoS Attacks (Part 2)
Commentary  |  6/25/2013  | 
With more 7,000 distributed denial of service attacks daily, it’s only a matter of time before even smaller banks and credit unions are targeted. Here are more lessons smaller institutions learn from the big banks.
A Transforming Industry: Exclusive Q&A With Financial Services Roundtable CEO Tim Pawlenty
News  |  6/24/2013  | 
The head of the industry lobbying group sat down with Bank Systems & Technology to discuss some of the major issues affecting financial services.
Barclays Plans to Sell Anonymized Data to Other Companies
News  |  6/24/2013  | 
Starting in October Barclays will sell aggregated and anonymized data on its checking and savings account holders to other companies trying to understand customer purchasing trends.
Indian Payments Group Launches Online Transaction Service
News  |  6/24/2013  | 
The service was rolled out to improve e-commerce growth in India.
Andera, Intuit Partner on Account Opening Technology
News  |  6/24/2013  | 
Andera's oFlows solution has been selected as the new account opening technology by Intuit Financial Services.
What Smaller Financial Institutions Can Learn From DDoS Attacks on Big Banks
Commentary  |  6/23/2013  | 
The experiences of big U.S. banks that were targeted with large denial of service attacks this past year could provide valuable lessons for smaller firms as they seek to minimize risks.
4 Things Banks Need To Know About DDoS Attacks
Commentary  |  6/23/2013  | 
To cope with an increased number of large distributed denial of service attacks, banks must not only have plans in place -- they should consider a broad set of defensive tools that combine on-premise technologies and cloud-based scrubbing services.
Five Factors to Consider When Evaluating Marketing and Analytics Platforms
Commentary  |  6/21/2013  | 
Banks looking to offer retail coupons to their customers based on data and analytics have to consider several key factors such as scale, engagement and data privacy to fine tune their approach for best results.
3 Keys to Improving Data Quality
Slideshows  |  6/20/2013  | 
Banks are investing heavily to analyze all the data they collect on their customers, but the best results from big data initiatives requires ensuring accurate data.
MasterCard, Western Union Partner on International Payments
News  |  6/20/2013  | 
The service will be made available to small and medium-sized businesses.
Paperless Treasury Management Helps Ensure Compliance
Commentary  |  6/20/2013  | 
Financial institutions face even heavier compliance duties to ensure all documents are accounted for and signed.
Credit Unions See Strong Membership Growth
News  |  6/20/2013  | 
Data from research firm SNL Financial finds that credit unions gained nearly 700,000 new members in Q1 2013.
EMV Migration May Lead Customers to Switch from Cards to Mobile Payments, Study Finds
News  |  6/19/2013  | 
In a new survey by ACI Worldwide nearly half of the respondents said that consumers will swap their plastic cards for mobile payments because of the migration to EMV.
BECU Reduces IT Overhead With Managed Services
News  |  6/19/2013  | 
Credit union leverages managed services from Avanade to upgrade its Exchange, Lync and SharePoint environments and provide 24/7 technical support.
Content, Customers, Compliance: Big Reasons for Banks to Use Enterprise Mobile Apps
Commentary  |  6/18/2013  | 
The rise of big data and deployment of mobile devices to support sales teams has given rise to a number of challenges that can be addressed with enterprise mobile apps.
Make All Employees Part of Your Data Security Team
Commentary  |  6/18/2013  | 
A robust defensive strategy starts with a culture of data security.
How Big Data Can Drive Mobile Payments Adoption
News  |  6/18/2013  | 
How banks decide to use their customer data to make relevant coupon offers to consumers will determine their place in the mobile payments ecosystem.
U.S. Banks Increasingly Pressured by Compliance Requirements
News  |  6/18/2013  | 
A report from Wolters Kluwer finds that financial institutions are feeling greater regulatory pressures than even at the beginning of 2013.
U.S. Bank Offers Donations Through ATMs for Tornado Victims
News  |  6/17/2013  | 
U.S. Bank wrapped up a donations drive today for victims of the Oklahoma tornadoes that allowed customers to donate to the American Red Cross directly from U.S. Bank ATMs.
Transforming Compliance into a Competitive Advantage
Commentary  |  6/17/2013  | 
Wells Fargo worked extensively with ACI Worldwide on simplifying and consolidating processes to comply with Dodd-Frank 1073, but the investment created new efficiencies that they believe offer an edge over the competition.
Commonwealth Bank To Launch Online Social Forum
News  |  6/14/2013  | 
The forum is designed to provide its customers with a personalized online experience.
3 Takeaways From Innotribe New York
Slideshows  |  6/14/2013  | 
The showcase for financial technology startups and innovators, sponsored by SWIFT, could portend the future of banking.
Online Account Opening: Switching to a Smooth Road
Commentary  |  6/14/2013  | 
A step-by-step guide to streamlining the online account opening process.
Bank of America Merrill Lynch Expands Transaction Services in Canada
News  |  6/14/2013  | 
The bank is creating targeted client teams and product enhancements for its business customers in that country.
Complement the Core: Going Paperless
Commentary  |  6/13/2013  | 
In this third article in the series on core transformation, we address why a bank needs to think beyond the core platform itself to achieve true transformation, modernization and efficiency.
How Regulators Should Treat Virtual Currencies
Commentary  |  6/13/2013  | 
Regulators have turned an alert eye on the emerging virtual currency market, and it is only a matter of time before they formulate anti-money laundering and fraud prevention rules specific to the new market.
Chase, Twitter Partner on Small Business Advertising
News  |  6/13/2013  | 
The social media site announced a partnership with Chase to award $1 million in free Twitter advertising credits to Chase small business customers in the United States.
Bottoms Up For Bitcoin
Commentary  |  6/12/2013  | 
The virtual currency popular with libertarians is now being accepted by a chain of U.K. pubs.
The Core of the Technology Puzzle
Commentary  |  6/11/2013  | 
In our second article on the ongoing modernization of the core platform, we hear from two banks that have put the pieces together to improve customer service through more strategic operations.
U.K. Payments Council Announces New Account Switching Service
News  |  6/11/2013  | 
The service is designed to make it simpler for consumers to switch bank accounts.
New Study: Alternative Credit Decisioning Tools Could Have Generated $1.7 Billion for Issuers In 2012
News  |  6/11/2013  | 
A new study by LexisNexis and Javelin found that alternative credit decisioning tools could open up new segments, like the underbanked, for lenders.
Mobile Wallets Still Struggling to Gain Traction
News  |  6/11/2013  | 
A report from Carlisle & Gallagher evaluated twenty prominent wallet products on payment capabilities and customer experience.
Leveraging Alternative Data to Increase New Account Openings, Reduce Charge-Off Risk
Commentary  |  6/10/2013  | 
Banks looking to grow their deposits can look to alternative data that is not included in traditional credit reports to find new customers and protect themselves form fraudsters.
Lloyds Banking Group Keeps It Simple With BPM
News  |  6/10/2013  | 
The U.K.'s largest bank has identified 200 initiatives that need to be completed in order to simplify the entire banking organization.
Protection in the Cloud
Commentary  |  6/10/2013  | 
DDoS attacks are already a huge concern for banks, and moving infrastructure to the cloud can open new vulnerabilities for banks from such attacks. Here’s a step-by-step plan to protect your infrastructure in the cloud.
Security, Efficiency, Service: Telecommunications and the Banking Industry
Commentary  |  6/7/2013  | 
Banks integrating interactive voice response, call-back manager and computer telephony integration technologies into their call centers can reap big benefits in customer experience.
Diebold Names Former HP Exec as New President and CEO
News  |  6/7/2013  | 
The ATM manufacturer appointed Andy Mattes, most recently HP's head of enterprise services for the Americas.
Union Bank Lays Foundation for Growth with Service Virtualization
News  |  6/5/2013  | 
Union Bank has used a service virtualization solution to improve application testing to replace legacy systems and launch new front end applications as it looks to grow into a top 10 bank.
Dell Brings the Cloud to the Branch
News  |  6/4/2013  | 
Dell’s new PowerEdge VRTX solution combines all the server, storage and networking needs of the branch into one chassis, eliminating hardware complexity and cutting costs.
Worldwide Mobile Payment Transactions To Reach $235 Billion in 2013
News  |  6/4/2013  | 
A new report from Gartner also predicts the number of mobile payment users worldwide will reach 245 million this year.
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