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Bank Systems & Technology: The Blog« April 2007 | Main | June 2007 » New Systems Need A Test Between Alpha And Beta: I Call It The Dummy TestMay 29, 2007 @ 10:17 AM | By Art Gillis By Art Gillis Every time I walk by the aisle in the book store where the books for dummies are stacked, I feel like I want to buy all of them. So please do not be offended when I use the term "dummy" in the context of technology. The reason for an Alpha Test is to assure the developers that the system works, in a controlled environment, as they had designed it. The reason for the Beta Test is to assure the users that the new system works in the real world as their business processes dictate. What this cycle has not considered is this — Does the system work for us dummies? And that's why I'm suggesting one more test between Alpha and Beta — the Dummy Test. continued...Comments(2) The Competitive Edge: Dimon and Kovacevich to Chair Competitiveness Commission. May 24, 2007 @ 03:50 PM | By Maria Bruno-Britz By Maria Bruno-Britz Keeping the U.S. at the forefront of technology and innovation seems to be on the agendas of many committees and conferences these days. Earlier this month, the Technology Innovation and Manufacturing Stimulation Act of 2007 was passed by the U.S. House of Representatives. The legislation earmarks new funds for the National Institute of Standards & Technology (NIST), reauthorizing several of NIST’s competitiveness and innovation initiatives. This drive to remain competitive is certainly not lost to the U.S. financial services sector either. continued...Comments(1) Tech Vendors Should Be As Good As My Plumber --- Performance One Can Genuinely Admire May 21, 2007 @ 02:41 PM | By Art Gillis By Art Gillis First, why am I interfering in my wife’s domain? Because life dictates the need for flexibility, and even though household management is her territory, family obligations demanded her presence in New England. That didn’t stop the faucet from dripping, however. So I stayed home to "manage" the situation with our plumber. continued...Comments(3) Going Green: Two Financial Giants Take Steps to Minimize Their Colossal Footprints May 21, 2007 @ 10:22 AM | By Nancy Feig By Nancy Feig continued...Comment on this blog entry Open Solutions’ Waggoner Passes Away May 18, 2007 @ 11:32 AM | By Maria Bruno-Britz By Maria Bruno-Britz Cliff Waggoner, co-founder and chief architect of data processing solutions provider Open Solutions (Glastonbury, Conn.), passed away May 11 after a battle with cancer. He was 66. Comment on this blog entry Greensburg State Bank Shows Banking Industry’s Determination In the Face of Disaster May 18, 2007 @ 10:55 AM | By Maria Bruno-Britz By Maria Bruno-Britz Here’s a neat little come-back story. Greensburg State Bank, a small financial institution based in Greensburg, Kan., lost its only building to an F5 tornado that slammed through the area earlier this month. The twister wrought a trail of devastation throughout the town, leaving many without their homes, businesses and even their lives. Comment on this blog entry How Can Technology Help A Bank's Process Improvement Program? May 14, 2007 @ 03:49 PM | By Art Gillis By Michael D. Nichols, Nichols Quality Associates It is an undisputed fact that technology has had a major impact on service processes over the last four decades. From customer service call centers to online checking accounts, it is hard to find a key business process at a financial services firm that does not have a significant investment in technology supporting it. Because of this, one would expect that technology departments are leading the charge with modern-era process improvement efforts and methodologies. Unfortunately this is not generally the case. continued...Comment on this blog entry Six Bank Tech Company CEOs Agree On At Least One Thing - It’s Going To Be The Big Six Core Solutions Companies Minus X May 14, 2007 @ 03:09 PM | By Art Gillis By Art Gillis The only thing they wouldn’t say is when. continued...Comment on this blog entry Banks Stake Out Similar Growth Strategies, But Fall Short of Customer Focused Ambitions May 14, 2007 @ 09:42 AM | By Nancy Feig New SAP study finds that banks aren't meeting their own IT expectations By Nancy Feig continued...Comment on this blog entry Citi Targets $50 Billion Over 10 Years to Address Global Climate Change May 14, 2007 @ 09:35 AM | By Nancy Feig By Nancy Feig continued...Comment on this blog entry SunTrust’s Nick Alex Examines the Lack of Standards in Commercial Payments May 11, 2007 @ 02:44 PM | By Maria Bruno-Britz By Maria Bruno-Britz Standards has long been a topic of discussion in payments circles. The ability to provide clients with standard formats for payment reporting, submission, etc. could do wonders for customer relationships, say experts, in that the bank can offer its commercial clients a slew of value added services around a more straight-forward, integrated view of their payments. Then why is the world still operating with proprietary payments formats? Comments(1) Fraudsters Hunting Smaller Game Online May 10, 2007 @ 01:06 PM | By Maria Bruno-Britz By Maria Bruno-Britz When asked in an interview what she saw as some of the most significant trends in security in the financial services space, Gartner’s Avivah Litan, VP, distinguished analyst, said that one of the most visible is that fraudsters such as phishers “are moving downstream to smaller banks. The attacks just don’t stop.” An increasing body of evidence shows that if you’re a small or midsize bank or credit union, or small or midsize business period, you are more likely to be in the sites of spammers and cyberfraudsters today than ever before. Comments(1) Check printer companies are like restaurants serving trans fats. We all know their products are declining but if you’re the only one left in a declining products business, it can become a booming company. May 07, 2007 @ 04:35 PM | By Art Gillis By Art Gillis MFW stock was trading at about $19 a share when it announced the acquisition of John H. Harland, the check-printing company.
Comment on this blog entry Journey to the Core: Four Banks and Their Replacement Stories May 04, 2007 @ 03:59 PM | By Nancy Feig Celent Roundtable covers the latest trends, main drivers, and the challenges of core replacement. By Nancy Feig continued...Comment on this blog entry Citi to Buy Bisys for $800 Mn May 04, 2007 @ 11:33 AM | By Maria Bruno-Britz By Maria Bruno-Britz New York-based Citi plans to purchase outsourced services provider The Bisys Group (New York) for approximately $800 million. The financial services firm plans to retain the Investment Services Division of Bisys, which includes the Fund Services and Alternative Investment Services businesses in order to beef up its own position in the hedge and mutual fund services area. Once the deal closes, Citi will sell the Retirement and Insurance Services division of Bisys to affiliates of investment advisor J.C. Flowers & Co. (New York). continued...Comments(1) Williams to Serve as New BITS President May 04, 2007 @ 11:30 AM | By Maria Bruno-Britz By Maria Bruno-Britz Leigh Williams was selected to serve as president of BITS, the business strategy and technology division of The Financial Services Roundtable, the Washington-based financial services public policy group. Williams will replace founding BITS CEO, Catherine Allen, who announced in January that she would step down from her CEO role, effective May 1. continued...Comment on this blog entry Convenience or Security? May 03, 2007 @ 11:42 AM | By Maria Bruno-Britz By Maria Bruno-Britz Security is on everyone’s mind these days. And how can’t it be, with all the media attention given to various data breaches and phishes over the past year? So it’s no surprise to see security technology vendors go on the offensive and introduce new solutions to the problem. Comment on this blog entry Maximizing Channel Performance – Still Frustrating After All These Years May 01, 2007 @ 10:15 AM | By Kathy Burger Consumer banking is the largest single area of technology-related spending in banking, according to Financial Insights. But how many banks are really getting the most for their money in retail banking? How many financial institutions are really gaining more consumer insight; building use of alternative channels; improving customer loyalty and retention; and ultimately increasing revenues and driving growth because of the investments they're making in retail and channel performance? continued...Comment on this blog entry
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