Lloyd DeVaux oversees technology spending during a period of rollercoaster expansion: need to plan far ahead.
Ready To Comply
Two California banks implement software that automates the compliance process
Card issuers adopt strategies to speed chip card infrastructure development.
New partnerships and better technology will lead to half of all FX trades being done online by 2004
ABN AMRO North America builds Web banking sites at three of its affiliates from Financial Fusion, Boston.
BANK IT SYSTEMS WEATHER THE CRISIS
Despite the devastating loss of life in the September 11th attacks on America, technology helped the financial services industry to survive the storm intact.
BANKS NEED TO UPGRADE OFAC PROCEDURES IN WAKE OF ATTACKS
The U.S. Treasury's Office of Foreign Assets Control, or OFAC, list of individuals and companies with terrorist ties grows in size every day, and is now too long for banks to notice suspect names with only cursory inspections.
WORLD TRADE CENTER ROUNDUP
SunGard reports three employees visiting the World Trade Center at the time of the attack remain missing; Bank of New York reports its systems were up and running days after the attack; The Risk Management Association will donate $100,000 to a charity established for the victims of the September 11 attacks; AXA Group and AXA Financial to raise $15 million for September 11 relief effort.
Overseas Union Bank goes live with ActiveBank.net to support loan business; Baring Asset Management selects CODA-Financials to manage its worldwide finance operations; Visa International announces plans to globally implement Visa 3-D Secure.
NORTH AMERICA BYTES
Comerica Bank Launches Comerica GlobalTRADE WebK, an Internet offering that simplifies international trade; AmSouth Bank selects a data feed and search engine from Hot Neuron LLC; National City Corporation uses products from three different vendors to create an integrated remittance processing and image archive solution.
SAP Offers Free Services
SAP to provide free IT consulting services to businesses affected by recent terrorist attacks and commits $3 million (U.S.) for aid for victims' families software group helps customers and other companies restore IT infrastructures free of charge.
Dennis Sheehan promoted to president and chief operating officer at BISYS Group; David MacWhorter named president of U.S. Operations for CEYONIQ; Gary Corr appointed to senior vice president and head of corporate development for ORIX USA; Bob Johnson becomes chief operating officer of SecureWare; Danen T. Butler named CEO of Promicro Systems.
The China Financial Certification Authority chooses Internet security solution from Entrust Incorporated; HypoVereinsbank installs voice trading technology from Syntegra; Banco del Bajio offers online foreign exchange trading from Cognotec; Zurich Financial Services Group standardized customer service operations using Siebel Financial Services.
NORTH AMERICA BYTES
Capital City Bank Group to use outsourced Internet cash management service from Banklink; KeyCorp to provide employees with Web access to enterprise documents using software from Mobius Management Systems; Bradford National Bank installs new online teller system from National Source One; West Coast Bank deploys rear-projection displays from Clarity Visual Systems.
TRADE SHOW / ASSOCIATION UPDATE
National Commerce Financial Corporation conference focuses on how to better sell investment and insurance products at bank branches; Financial Fusion and IBM launch roundtable series on Internet delivery channels; NACHA electronic check conference takes place in Miami next week.