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Bank Systems & Technology: The Blog« March 2008 | Main | May 2008 » If I were the CEO of a bank, I would....April 28, 2008 @ 10:50 AM | By Art Gillis 1. Hire a personal auditor, but not a partner of the bank's audit firm, and not one of the Big Four. Comment on this blog entry The Greening of Banking April 28, 2008 @ 08:24 AM | By Kathy Burger On the first Earth Day—April 22, 1970—I enthusiastically did my bit for the environmental cause by volunteering with some of my fellow high school students to run a car wash that was supposed to raise money and awareness. Of course it didn't occur to any of us that there was something inherently contradictory about trying to save the environment by washing cars. We felt optimistic and productive and kind of noble. We knew we had done something good, although none of us would have been very successful at explaining exactly what we had accomplished. Comments(1) Transfer Limits: Reducing Risk at the Expense of Convenience April 24, 2008 @ 09:49 AM | By Michael Ellison To fund a study we’re conducting in our brokerage research, we recently attempted an online transfer of $5,000 from a Citibank account to a linked Charles Schwab account. We had done this before without any problem, and were surprised to note that Citibank recently reduced the daily limit for outgoing inter-institution transfers (IITs) from $5,000 to $2,000. continued...Comment on this blog entry Can Anyone Stop DataTreasury In its Patents Crusade? April 23, 2008 @ 03:24 PM | By Maria Bruno-Britz It looks like Data Treasury has claimed yet another victim in its patents game. It was announced recently that PNC Financial was the latest FI to settle with the notorious patent litigant over technology around electronic check imaging. Comments(54) The Price of a Stock has Never Influenced My Recommendation of a Bank Tech Vendor April 21, 2008 @ 02:12 PM | By Art Gillis With all due respect, I realize that my bank clients and private equity clients care a lot about the performance of their investments in the stock market. I’m simply saying that as an advisor to banks that are searching for a new core applications software or service company, I deal with 814 criteria in making my final recommendation. The price performance of a vendor’s stock is not one of the 814. continued...Comment on this blog entry Will FICO Scores Suffice In Credit Crunch World? April 14, 2008 @ 12:35 PM By Clark Abrahams, Marketing Director, SAS Is a new credit assessment the intervention needed for the subprime crisis? As I follow the unfolding mortgage crisis, one thing is abundantly clear—there is significant room for improvement in current credit assessment approaches. Credit scoring has not done an adequate job of assessing risk in the subprime mortgage market. That fact is beyond dispute. Simple re-calibration of the existing models will not fix the problem of the blind spot in today's underwriting practices. continued...Comments(3) Fewer Bank Tech Vendors, but More Solutions to be Had April 14, 2008 @ 12:22 PM | By Art Gillis Today, there are fewer bank tech companies, but more solutions in the marketplace. Comments(1) Industry Collaboration Vital to Banks’ Viability April 11, 2008 @ 11:27 AM | By Maria Bruno-Britz I recently attended the SWIFT Operations Forum Americas in New York. While there, I had the pleasure of hearing some very influential people from the financial services industry speak. Foremost among the FS heavy-hitters (to me, anyway) were the executives who spoke during the second keynote address. It wasn't a keynote in the traditional sense, but more like a panel. Attendees were invited to hear what Bank of America SVP Len Heckwolf, Thomas Halpin, SVP at HSBC, RBS's CIO Edward Glassman and Roy DeCicco, SVP, JPMorgan Chase, had to say about how the payments and treasury management space is changing. Comments(1) These May be the Best of Times for Some Bank Tech Vendors April 07, 2008 @ 11:46 AM | By Art Gillis A few years ago, the stats were telling me that the #1 business (new core sales) for bank tech vendors was leveling off. Not dying, mind you, just leveling off from about 8 percent of the population to about 3 percent. The sale of core apps solutions is the sweetest sale any vendor can make for these reasons: It's the biggest thing every financial institution (16,881 in the U.S.) does. All FIs do it every day. It's so critical that FIs would be subjected to huge risk if just one night's processing didn't occur. And from a vendor's standpoint, that's where the money is. For example, each of the top three banks in the U.S. spends $5.25 billion a year on core processing. If Fiserv and Fidelity National had only one of the top three banks as their only customer, each company would earn more revenue than the thousands of banks that Fiserv and Fidelity work for now. Comments(1)
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