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Bank Systems & Technology: The Blog« May 2007 | Main | July 2007 » The Fed Reorganizes Itself to Send a Clear Message to FIs on Check ImagingJune 28, 2007 @ 01:33 PM | By Maria Bruno-Britz By Maria Bruno-Britz Last month, the Federal Reserve announced plans to revamp its check processing infrastructure to better reflect the move from paper to electronic check processing. The Fed entered into an agreement with Unisys in which the vendor will enhance the check processing infrastructure by way of the Federal Reserve Bank of Cleveland. I actually discuss this deal in greater detail in the July issue of Bank Systems & Technology. Comment on this blog entry Automation in Banking 2007 Executive Summary June 25, 2007 @ 03:59 PM | By Art Gillis In 2006, the bank technology business was good for bankers and it was just OK for vendors.Bankers were getting the work done every day; they were reasonably safe from hackers, phishers, and T-shirt collar criminals; they were generally comfortable that their catch-up game was running neck and neck with market-available technologies; and they were free from big spending projects that in the past, seemed to be integral to anything with the word technology in it. I would imagine their Wednesday afternoon golf was never disrupted in 2006 because of an IT disaster. There were two reasons for this state of justified euphoria. continued...Comment on this blog entry Treasury’s Commonsense Turn-around on Anti-money Laundering June 25, 2007 @ 01:54 PM | By Maria Bruno-Britz By Maria Bruno-Britz Last week, it was revealed that Treasury Secretary Henry Paulson is going to push for a more balanced approach to anti-money laundering compliance for smaller financial institutions. A document released by the Treasury Department states that not all financial services providers are subject to the same kinds and degree of risk. Therefore, matching risk-based examination to risk-based obligations should become the norm as smaller FIs and money service bureaus (MSBs) seek to comply with Bank Secrecy Act (BSA) regulations going forward. Comments(1) Mobile Payments: Look to Korea June 25, 2007 @ 10:25 AM | By Nancy Feig U.S. unit of Danal gets a boost from $9.5 million venture financing investment.
Comments(2) SAS Profitability Management Podcast June 22, 2007 @ 10:07 AM | By Vitali Zhulkovsky Accurate profitability and predictive performance management are the keys to achieving organic growth. To boost profitability, you must first understand it. To increase retention and increase customer wallet share, you must first understand whom to keep. That's a challenge, as many organizations combine inaccurate cost information from traditional costing systems with other financial and operational data to generate reports on customers and products. This approach, however, doesn't measure true profitability; nor does it enable the development of customer, product or channel mix scenarios that can be used to grow the bottom line. Learn about the SAS(r) approach to successfully and profitably achieve organic growth.
Wal-Mart Bounces Back From ILC Rejection With An Even Bigger Financial Services Plan June 21, 2007 @ 09:21 AM | By Kathy Burger From a competitive standpoint, banks should think about Wal-Mart as a kind of huge, unstoppable bobo doll. No matter how many times you push it back or put obstacles in its way, sooner or later it will bounce back with another plan. Somehow or other, Wal-Mart obviously has determined, it is going to be in the financial services business. If it isn't going to be allowed to enter banking through the launch an industrial loan corporation (ILC), it will figure out some other way to provide financial services to its existing and potential customers. continued...Comments(3) If You Want To Know Which Apps Were Hot In 2006, Ask The Guys Who Sold Them June 18, 2007 @ 04:26 PM | By Art Gillis Art Gillis It was the first time I ever asked this question, and I was thrilled at the quick, clean and no-hype reactions from six in-the-trenches companies that have been telling it like it is to me for 25 years - Fiserv, Fidelity (and its acquirees), Metavante, Jack Henry, Harland Financial Solutions and COCC. continued...Comment on this blog entry Making Credit Card Terms More Transparent June 18, 2007 @ 09:35 AM | By Nancy Feig Chase and Congress take steps to combat abusive credit card practices. But is it too late for some consumers? By Nancy Feig continued...Comments(2) Building Acceptance Not Always Easy for New Payments Tech June 14, 2007 @ 03:04 PM | By Maria Bruno-Britz By Maria Bruno-Britz Visa recently announced that it plans to install its swipeless credit card technology in New York City cabs. Visa payWave readers will be situated in the back of the taxis to allow passengers to pay with the wave of a card, and even include a tip. Comments(3) Sale Of Core Applications As A Thing Of The Past June 11, 2007 @ 05:57 PM | By Art Gillis By Art Gillis After I wrote last week’s blog, I was haunted by that old cliché, "A picture is worth 1,000 words." In this case it's 382. So folks, look at the picture.  download Comment on this blog entry Wal-Mart Takes a Backdoor Into Banking with Prepaid Cards June 08, 2007 @ 02:50 PM | By Maria Bruno-Britz By Maria Bruno-Britz Just when you thought it was safe to be a bank, here comes Wal-Mart yet again. After its failed effort to obtain an industrial loan corporation license, the retail giant, showing its usual tenacity, seems to have taken a different tactic in the financial services space—going after the underbanked and unbanked with a prepaid card. These are people with little, if any, relationship with a financial institution. There are millions of these people in this country (the estimates vary according to who you ask). Due to their sheer numbers, banks realize the enormous market potential of this untapped segment of the population. However, penetrating the psyche of this market is easier said than done, and banks are also realizing this fact. continued...Comments(1) Retail Banking: I'm Bringing Branching Back June 08, 2007 @ 02:49 PM | By Nancy Feig By Nancy Feig continued...Comments(1) Single-Report Bank Core System Is No Pipe Dream June 04, 2007 @ 03:36 PM | By Art Gillis By Art Gillis If someone paid me $7 million, plus or minus a million, to create a new bank core system for community banks, the first thing I would do is fly to Kansas City. That’s sort of a private matter, but my mission would be to assign all the bread and butter applications to a man I believe has four very rare skills: continued...Comment on this blog entry U.S. Bancorp’s Pam Joseph Gives Advice on Going International June 01, 2007 @ 01:28 PM | By Maria Bruno-Britz By Maria Bruno-Britz Pamela Joseph, vice chairman at U.S. Bancorp and chairman & CEO of the bank’s payments subsidiary NOVA Information Systems, was a featured speaker at this year’s TowerGroup Financial Services Business & Technology Conference. Joseph’s presentation covered NOVA’s strategy for going international and at the same time provided attendees with some good advice for doing so. Comments(1) Going Global Requires a Subtle Hand June 01, 2007 @ 01:20 PM | By Maria Bruno-Britz By Maria Bruno-Britz On May 31, I was up in Beantown for the annual TowerGroup Financial Services Conference. The theme of this year’s event was globalization. A fitting subject in today’s world. Right from the start, the presentations weaved the main idea of our ever-shrinking world in ways that apply to the financial services space. Comments(1)
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