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Taking ATM Fraud Prevention to the Next Level July 02, 2008 @ 04:17 PM By Mike Fenton, Parascript, LLC Comment on this blog entry Patents: Don't Change the Landscape Too Quickly June 27, 2008 @ 11:19 AM By Alan Tenenbaum, Cohen Pontani Lieberman & Pavane, LLP Over the past few years, we've seen an enormous amount of patent litigation against companies in the financial industry. The patents at issue in these litigations primarily concern business methods, covering such things as financial email alerts, systems for trading treasuries and other securities, Check21 technology, pre-paid gift cards, and online credit applications, to name a few. The trend is continuing, with recent infringement suits brought by Edge Specialists LLC for patents that concern systems for automated options trading, and by Lincoln National Life Insurance Co. for patents that concern computerized methods for administering annuity products. continued...Comments(1) Banks Turn to SaaS to Stretch IT Budgets June 16, 2008 @ 11:00 AM By Randy Rodriguez, Bluewolf One word summarizes today’s banking climate: volatile. Bank CEOs are focused on capital markets, fall-out from the subprime debacle, and the pace of merger and acquisition. FDIC’s last Quarterly Report for 2007 points out the realities facing today’s banking leaders. With banking quarterly income at the lowest levels in 16 years, eroding margins, earnings volatility, non-current loans rising and one in four banks losing money, IT managers will continue to face enormous challenges in 2008. Comment on this blog entry How to Revitalize Midsize Banks June 02, 2008 @ 09:54 AM By Anand Swaminathan and Andrew Kappy, Accenture Medium-sized banks find themselves in an increasingly desperate situation. They are losing significant market share to their larger competitors without the scale or funds to weather the weak economy, diversify their business or acquire others as a competitive strategy. Comment on this blog entry A Little Homework Could Have Saved Banks a Lot of Patents Grief May 23, 2008 @ 11:08 AM By John Cronin and Rachael Schwartz, ipCapital Group Recent patent-related stories in the news suggest to the inexpert public a disturbing trend that some lucky inventor comes up with a simple concept, receives a valuable patent from a broken patent office and then easily earns hundreds of millions of dollars in licensing fees from industry leaders who cannot afford not to use the new technology themselves. From these stories, the public may start to recognize patents as a threat to industry, as they may force companies hoping to compete to license technologies at exorbitant costs. However, once one investigates the patents more deeply, it is clear that they do not threaten to shut down industries or disrupt the U.S. patent system. Comments(8) ISO20022/UNIFI is the Answer – What was the question? May 02, 2008 @ 01:56 PM By Wayne Meikle, Financial Services Director, IONA Technologies People tend to equate ISO20022/UNIFI directly with XML. The benefits are a global set of common standards based on more open and cost-effective XML technology platforms—so life gets easier, doesn't it? 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) Not All Alerts Are Created Equal March 24, 2008 @ 11:20 AM | By By Joseph Salesky, ClairMail Inc. In theory, alerts can be an effective customer service tool for fraud prevention, account management, bill payment and other banking functions. When executed correctly, not only can alerts increase customer service and satisfaction, they can also significantly cut costs for banks, introduce new revenue opportunities and accelerate adoption of the mobile banking channel. Comment on this blog entry Efficiency Ratio: A Focal Point for Change In Lending February 25, 2008 @ 10:38 AM | By 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. continued...Comment on this blog entry The Dynamic Duo: IT and Legal Working Together to Beat the Bad Guys January 28, 2008 @ 08:58 AM | By By Mark Greisiger, NetDiligence, and Jon Neiditz, Locke Lord Bissell & Liddell LLP Imagine this nightmare: Criminals from across the globe, armed with the most sophisticated weaponry, are converging on your bank. Inside the bank, the guards are fast asleep. Panicked tellers sound alarms. Nothing happens. (No one knew they didn't work; they were never tested.) The bad guys know precisely where the vault is and it's wide open. Bad guy after bad guy marches out with your customers' wealth. The crime's swiftness is mind-boggling. What should have taken hours was over in seconds.continued... Comment on this blog entry Getting Personal with Customers Using Interactive Documents January 07, 2008 @ 12:17 PM | By By Jerry Driscoll, Exstream Software Despite the large number of mergers and acquisitions within the industry over recent years, banking still remains highly competitive. Walk down any street in an average American city, and you're likely to pass three or four bank branches marketed to attract more customers and encourage them to do more business by opening more and different types of accounts. As always, however, the most effective way to do this is to build personal relationships with customers, to develop trust and inspire loyalty. Comment on this blog entry GUEST COLUMN: Biometric Signature Authentication for the Information Age November 12, 2007 @ 09:39 AM | By By Dr. Tatiana Vazioulina, Parascript, LLC The dramatic rise of financial fraud has become a scary trend in today's world. According to recent studies, approximately 9.2 million Americans suffered from identity theft crimes in 2004, costing consumers $5 billion, and banks and corporations $48 billion. The growth of these crimes has resulted in a renewed interest in advanced security means. Institutions are increasingly demanding more reliable, less costly authentication and authorization for everyday activities, such as performing financial transactions, boarding an aircraft, entering a secure physical location or crossing international borders. Biometrics is an emerging technology that is quickly garnering wide attention for its promises to alleviate security breaches and offer solutions to key challenges, such as financial theft and fraud, faced by real-world enterprises. Comment on this blog entry GUEST COLUMN: A Greener Data Center Starts with a Better Handle on IT Assets August 20, 2007 @ 02:43 PM | By By Richard Muirhead, CEO and Founder, Tideway Systems Going green is a red hot issue these days, particularly in the data center which is a big consumer of energy. Rising energy costs, combined with the increasing number of servers, cooling equipment and related infrastructure being deployed, are creating new pressures on corporate bottom lines in financial services organizations and in many other industry sectors. Comment on this blog entry |
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