News & Commentary
Content posted in September 2002
Final USA PATRIOT Information-Sharing Rule Published
News  |  9/19/2002  | 
Taking comments from the financial industry into consideration, the U.S. Treasury has published its final rule on the information-sharing provisions in Section 314 of the USA PATRIOT Act.
The Politics of Outsourcing
News  |  9/19/2002  | 
Recent world events have some financial institutions reconsidering which countries they use for outsourcing.
Card Agreement Will Make Fast Food Faster
News  |  9/19/2002  | 
A rule change by the major payments associations, allowing certain merchants to skip the signature requirement on transactions under $25, will allow fast-food restaurants to accept card payments at the drive-thru window.
Mobile Financial Services On The Rise In Europe
News  |  9/19/2002  | 
Europeans are ready for the next generation of mobile financial service offerings, according to a recent study published by e-comes, a Dusseldorf-based management consultancy firm.
Executive Changes
News  |  9/19/2002  | 
Norm Balthasar named senior executive vice president and chief operating officer for Fiserv, four other promoted to division presidents; Anthony T. Anzevino appointed Banking & Investment Banking Industry Group leader for KPMG's New York Financial Services practice; Matt Semrad named chief operating officer for APPRO Systems.
International Bytes
News  |  9/19/2002  | 
Krung Thai Bank selects the Sanchez Profile real-time banking solution from Sanchez Computer Associates; Akbank has gained one million new customers in the eight months since it introduced the Axess credit/smart card from Welcome Real-time; EFG Eurobank Ergasias installed PAYplus, an electronic payments and cash management solution from Fundtech.
North America Bytes
News  |  9/19/2002  | 
Citibank e-Business launches a Web-enabled treasury outsourcing solution; Wilmington Savings Fund Society purchases a comprehensive suite of bank outsourcing solutions from Metavante Corporation; Bank of America signs on to the SafeCHECK point-of-sale check verification and electronic check conversion service.
Association Update
News  |  9/19/2002  | 
James Gilmore, chair of the Congressional Advisory Commission on Terrorism, will keynote the second BioDefense Mobilization Conference & Exhibition; FDIC and XBRL USA co-host a half-day conference on extensible business reporting laungauge for financial service leaders; Sandra Jansky of SunTrust Banks elected chair of the Risk Management Association.
Hibernia Jazzes Up Its E-Mail Response System
News  |  9/10/2002  | 
Although customer e-mail volume has soared, Hibernia National Bank has not only maintained its 24-hour response pledge, but is closing in on 12-hour responses.
Person-to-Person Systems Go Prime Time
News  |  9/10/2002  | 
Certapay, a Canadian e-payments company, is working with groups of banks to turn person-to-person payments into a mainstream offering.
One Year Later
News  |  9/10/2002  | 
On Sept. 11, 2001, McLaughlin-Moore was in Tampa, Fla., setting up a command post for the bank's wire business, when she got word of the terrorist attacks. She shares her insights about large-value money transfer post-9/11.
Cranking Out Savings
News  |  9/10/2002  | 
Banks are reaping order-of-magnitude productivity gains using workflow automation technology, which allows organizations to map business rules and procedures, and in combination with imaging, to automate the routing of documents.
Playing For Keeps
News  |  9/10/2002  | 
Web-based cash management helps banks attract and retain profitable customers.
Florida Bank Taps Intrieve
News  |  9/10/2002  | 
First Bank of Jacksonville has contracted with Intrieve, a Cincinnati-based service provider, for core processing and item processing services.
ICBA Offers Cash Transfer Service to Mexico
News  |  9/10/2002  | 
The ICBA and Travelex will launch a service for transferring money between the United States and Mexico.
Mechanics Bank Tunes Its Call Center
News  |  9/10/2002  | 
Mechanics Bank has increased its call volume to between 800 and 1,000 calls daily, reduced its abandoned call rate, and lowered customer wait time to one minute or less using an agent productivity suite.
Fed Adds Color To Bills
News  |  9/10/2002  | 
Next year, the U.S. Treasury and Federal Reserve will issue colored bills, code-named Nexgen, intended to deter home-grown counterfeiters.
Incentive System a Hit at First Tennessee Kevin Kenyon
News  |  9/10/2002  | 
First Tennessee has installed the Motiva 8 system to centralize, standardize and control incentive and variable compensation for over 2,000 employees.
SFA System Improves Employee Productivity at Sovereign Bank
News  |  9/10/2002  | 
Sovereign Bank, a regional bank in the Northeast, has recorded a seven-fold increase in the number of users of a sales force automation system it installed at the beginning of the year.
World Briefs
News  |  9/10/2002  | 
SWIFT taps Iona to link investment managers and hedge funds to the SWIFT financial messaging network; DiBa contracts with NCR to migrate 850 ATMs from the OS/2 operating system to Windows NT; Bank of Ireland licenses AutoDealer.
China To Begin Money Transfer Service
News  |  9/10/2002  | 
Electronic money transfers into and out of China will soon be possible thanks to a new service from China Post, the government-owned postal service.
BBVA Bancomer Debuts Chip Cards in Mexico
News  |  9/10/2002  | 
BBVA Bancomer will be the first bank in Mexico to issue smart cards in an attempt to reduce fraud and eliminate card skimming.
Web 'Office' Opens Door to Financing Pipeline
News  |  9/10/2002  | 
Trying to gain an edge on its larger trade-financing competitors, National City has added foreign exchange and other trade services to its online treasury platform.
Amex Aims to Outsmart Counterfeiters
News  |  9/10/2002  | 
Stung by a sharp rise in counterfeiting, American Express is fighting back with tools designed to thwart credit card scams.
Bank Bytes
News  |  9/10/2002  | 
Wachovia uses networked storage plus data management software from EMC; Capital City Bank uses Series 2000 from Banklink; Fleet Bank installs Core that it co-developed with Carreker.
Metavante Acquires Spectrum and Paytrust
News  |  9/10/2002  | 
Establishing itself as a marquee player in EBPP, Metavante has acquired Spectrum, a bill presentment switch, and Paytrust, a scan-and-pay consumer service provider (CSP).
Hijackers Opened Accounts Using Phony SSNs, FBI Says
News  |  9/10/2002  | 
Reports that the September 11th hijackers opened 35 U.S. bank accounts are causing banks and regulators to reevaluate customer verification procedures.
Little Victories
News  |  9/10/2002  | 
After certain shared catastrophic events, we experience the cycle of healing as a group. We're in the midst of such a phenomenon now. The attack and collapse of the World Trade Center occurred a year ago this month, yet it already seems like something that happened a decade or generation ago.
Canada's Leading Item Processor Anticipates U.S. Check Processing Consolidation
News  |  9/6/2002  | 
Check processing centers in the United States are ripe for consolidation, according to Paul Currie, CEO of Symcor Services, which currently processes about two-thirds of checks in the Canadian marketplace.
Electronic Payments Network Goes West
News  |  9/6/2002  | 
In a bid to increase its presence in smaller regional financial institutions, the Electronic Payments Network will market its ACH processing services through Western Payments Alliance.
ABA Adopts Electronic Fingerprint Technology To Ease Background Checks
News  |  9/6/2002  | 
The American Bankers Association (ABA) now allows electronic submission of fingerprints for background checks, a program that can save financial institutions time and money.
ABN AMRO Tests Web Services With Parasoft
News  |  9/6/2002  | 
Some early adopters of Web services are finding value in a new breed of Web Services testing tools.
Executive Changes
News  |  9/6/2002  | 
Alex Tan named CEO of the Asia-Pacific region for Welcome; Simon T. Nahnybida joins Online Resources as senior business development executive; Todd Gresham named to the GlassHouse Technologies Board of Directors; Nayeem Qureshi appointed vice president of business development at Foundation Source; Mervyn Farrant named non-executive Chairman to the Board at Cognotec.
International Bytes
News  |  9/6/2002  | 
First Chicago Tokio Marine Financial Products to implement software solutions from Summit Systems; Indusland Bank installs their channel management solution from CR2; SFF Investment Funds goes live with SunGard Investment Management Systems' Global Portfolio II; China Securities Depository and Clearing Corp., and Euroclear sign a consultation agreement.
North America Bytes
News  |  9/6/2002  | 
U.S. Bank installs Enterprise Sort Pattern Test Facility from Gilson and Associates; KeyCorp implements a business intelligence solution from Cognos; Western Corporate Federal Credit Union, Sterling Savings Bank and Pacific Capital Bancorp pilot test a check image exchange from Endpoint Exchange; Cenlar FSB licenses business process automation software from Proacsys; Lyndonville Savings Bank purchases a check imaging solution from Mitek Systems and EastPoint Technologies.
Association/Trade Show Update
News  |  9/6/2002  | 
Speakers from United States government agencies to speak at the 10th Annual Conference of the Smart Card Alliance; Sun Microsystems' SUNnetworld Conference 2002 to present technology vision and practical application for Sun users; Electronic Check 2002 will be held Sept. 23-24 in San Diego; 2.5G and 3G Wireless 2002: Putting the Pieces Together, a seminar regarding new wireless networks, to be held in Washington D.C. Oct. 28-29.


Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Slideshows
Video