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Bank Systems & Technology: The Blog

« January 2008 | Main | March 2008 »

Sometimes I like to share with readers some low-tech solutions to potential problems at banks. Take vaults, for example. What happens if someone—employee or customer—gets locked inside? Sure, there are procedures at banks to ensure something like that doesn't happen. But there is still that possibility. Well, Diebold is now offering "vault survival kits" for financial institutions. The kits are one of those "just in case" things that may come in handy one day.

She's baaaaack! Yes, it's everyone's favorite obnoxious British "woman"—Little Britain's Carol Beer, and she's up to more banking shenanigans.

You can fill in the rest of that title statement as you see fit. The reason I am writing this analysis is because clear-thinking investment analysts believe that when banks are in trouble, they will cut back on tech spending, among other expenses. That's a logical position to take, at least on the surface, but there's more to this issue than a surface look, and I'd like to explain the details.

By J. Brian King, Benchmark Consulting International

One of the greatest challenges faced by financial institutions is sifting through and processing data in order to extract meaningful information on which to base their decisions, according to a whitepaper by BenchMark Consulting International (Atlanta). Understanding and properly leveraging internal data as well as appropriate external data can allow lenders to confirm where they are performing well and identify possible areas for improvement.

It looks like marriage has taken another hit, it seems: This time at the hands of the banking industry. Well, somewhat. According to a study by Mintel conducted on behalf of the viewers of the BBC's Watchdog program, many in the U.K. are apathetic when it comes to seeking a new financial services provider versus opting out of a marriage, business partnership or employment.

I don't know if Alan or Ben ever used some of my indicators to gauge the economy. Here are a few signals that I have observed which lead me to believe all is not well in the business world. If you're looking for deep-rooted intellectual thoughts here, then just know I can't deliver that caliber of economics. My stuff is in-your-face observations from the chores conducted by a small business owner. That means I'm not talking about my consulting practice.

Albonetti & Co. recently released findings of a study in which it surveyed 200 corporates worldwide. It found, probably not surprisingly, that a good majority of companies do not use treasury workstations, the combination of hardware and applications that automate most core treasury processes.

It looks like Dutch banking giant ING will be joining the legions of smaller (and in some cases, somewhat shady) financial institutions in leaving the virtual world of Second Life. However, unlike some of its counterparts in the virtual world, the move is not the result of financial insolvency. Rather, ING says the decision was driven by its desire to better concentrate on its acquisition of Postbank.

It's been at least 15 years since I "enrolled" on the Internet, and I knew it would take a while for it to mature, where mature means getting rid of the scam artists. I was wrong. The Internet will never mature to my idea of a clean, wholesome resource. Today's interlopers must think we're all stupid, and we'll fall for their con games. So I took matters into my own hands, or fingers, and learned how to bypass the abuse. I offer some tips, although I'm sure you have your own.

I recently ran into this interesting item while perusing my usual news sites. In short, the Florida Bankers Association wants to encourage its members to institute a policy where customers cannot wear sunglasses, hats or hoods when entering a branch for service. This is the FBA's latest effort in helping member banks ramp up security at the "store" level after a spike in bank robberies in the state.

It appears that banking will now become truly online thanks to a new service that CheckFree announced yesterday: Remote Deposit Capture. Essentially, this will allow retail customers who have a scanner and an Internet connection to deposit checks from their home without visiting the branch.

Two years ago, I saw a list of opinions regarding his/her/their "own grandiose challenge to the industry." In my opinion, it was more like an in-your-dreams list, so I saved it to see if a couple of years would produce any kind of change close to the dream. The short answer is, it would take decades or fuggetaboutit. Here's the score card:

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