Paul Johnson of BB&T: Transformation Never Ends
Nearing completion of a program to overhaul the way his technolgy organization operates and how it is viewed by the business, BB&T EVP and CIO Paul Johnson says the evolution of IT is an ongoing journey.
Jeff Dennes: Mobile Banking Pioneer, iPad Enthusiast
As the architect of USAA's online and mobile banking initiatives for the past 10 years, Executive Director Jeff Dennes rolled out a series of technology innovations for these channels. Although Dennes recently left the company, an iPad app he spearheaded is due out late this year.
Bank of the West Launches Mobile Banking
San Francisco-based Bank of the West ($61 billion in assets) announced Tuesday the launch of its mobile banking platform, which enables a several account functions through SMS.
Sterling National Bank Sees Growth from "Flight to Quality"
New York-based Sterling National Bank ($2.1 billion in assets) has recently seen a significant percentage of its growth as the result what it calls a "flight to quality," or the effect of dissatisfied customers leaving larger banks for more personalized service at a smaller bank or community bank.
Citi to be First U.S. Bank to Deploy MasterCard inControl
New York-based Citi will be the first U.S. bank to deploy MasterCard's inControl service, adding new functionality for cardholders by the end of this year. The new service will give cardholders the ability to set spending limits, set budgets and rules for when and how their card can be used, and set up realtime SMS and email alerts based on spending activity.
First Tennessee Launches Mobile Banking
First Tennessee Bank ($26.3 billion in assets), a subsidiary of Memphis-based First Horizon National Corp., announced the launch of its mobile banking service Monday. The service allows customers to access the bank via SMS, mobile web browser or downloadable app.
Customer-Centered Banking is the Future, Author Says
In terms of understanding consumer behavior and providing the online and mobile services accountholders want, Brett King believes if banks don't innovate, they run the risk of letting outside competitors steal business by providing the technology first.
Hot Summer Matches Heat in a Banker's Kitchen
Most parts of the U.S. are experiencing a hot summer, noticeably above average in heat, and in many cases humidity too. I am reminded of a phrase attributed to President Truman, "If you can't stand the heat get out of the kitchen."
Beware of Borrowers Using Social Security Numbers Stolen from Children
In a growing form of creepy and eerily patient criminality, fraudsters are obtaining the Social Security numbers of children (who have pure credit records because they've never had any credit) and using their identities to slowly build up good credit histories over the course of as much as five years, so that they can then write bad checks and disappear.
KeyBank Deploys Mobile Money to All Customers
Cleveland-based KeyBank ($94 billion in assets) rolled out mobile banking services to all of its customers this week through Fiserv, Inc.'s Mobile Money product. It is one of the first banks in the United States to roll Mobile Money out - which enables various mobile transactions - to all of its customers.
How to Make Your Website a Magnet for Deposits
By Terry Moore and Madhavi Mantha, Accenture
More than one-half of financial services product searches in the United States begin online, according to Accenture research, and that figure is likely to increase. Indeed, customers rank the online channel as the single most important way of interacting with their banks.