 COVER STORY Banks Scrutinize Lending Technology and Underwriting Practices Following the Credit Crisis On the heels of the credit crisis, lenders will demand more from technology as they struggle to reinvent themselves and prevent another mortgage meltdown. Sidebar FICO Score Back In Lenders' Risk Management Arsenal Fair Isaac's forthcoming FICO 08 will be part of the company's new Risk Management Suite, along with features such as the Credit Capacity Index, which gives lenders better insight into someone's capacity to take on more debt. SPECIAL REPORT Exclusive TowerGroup Research Report: Bank Tech Spending in 2008 Though banks' IT budgets are likely to shrink if economic conditions worsen, demand for technologies that improve efficiency and integration, client engagement, and security and fraud management will continue. Sidebars Delaware County Bank & Trust Dedicates 2008 IT Budget to Technology Maintenance Rather than spend money on new technology, Delaware County Bank & Trust plans on maintaining systems in 2008. Fifth Third Bank Uses Efficiency to Fund New Projects Fifth Third Bank drives IT efficiencies to create more IT investment dollars for future initiatives. EXECUTIVE Q&A Umpqua Bank Functions Like a Retailer, Head of Marketing Says At the end of the day, Umpqua sells products and services, much like a retailer, says Lani Hayward, EVP of creative services. INDUSTRY WATCH Document Automation Vendors Expanding Focus to Enterprise Content Management Acquisitions in content management space by HP and EMC show a new shift in focus on enterprisewide content management solutions. Comerica Awards BPO Contract to Accenture Accenture will provide Comerica with outsourced management of its procurement operations. Washington Mutual Relaunches Wamu.com WaMu redesigns its Web site with enhanced navigation to improve ease of use and the overall customer experience. Wells Fargo to Offer Weekend Sweep Service to Small Businesses Wells Fargo's Business Weekend Sweep service offers small businesses the chance to earn interest on their checking accounts. |
FROM THE EDITOR Bank CIOs Prepare to Tighten IT Belts in Expectation of Recession CIOs and other bank IT executives report they'll shift spending toward maintenance and infrastructure, versus new technology initiatives, as the outlook for the economy worsens. RISK COMPLIANCE WATCH Regulators Focused on Anti-Money Laundering A risk-based approach is the No. 1 success factor for anti-money laundering programs, according to an Ernst & Young survey of AML professionals. CHANNEL WATCH Mitek Mobile Phone Remote Check Capture Offers New Channel Choice Mitek's ImageNet Mobile Deposit product enables check capture by cell phone, opening a new channel to banks' customers. PAYMENTS WATCH BART Pilot Allows Users to Pay for Mass Transit Fares With Mobile Phones Bay Area Rapid Transit (BART) pilot allows riders to use mobile phone-based contactless payments to pay for fares and food. BEST PRACTICES Fremont Bank Gains Clarity Into ACH Risk Fremont, Calif.-based Fremont Bank adds Laru's ACH Clarity product to monitor ACH transactions and reduce risk expsoure. PERSPECTIVES Can Remote Deposit Capture Drive Growth? Banks are increasingly adopting remote deposit capture solutions (RDC), but can they drive growth? First Tennessee Bank's Taylor Vaughan, Dove Consulting's Ed Bacheilder, Celent's Bob Meara, and NetDeposit's Danne Buchanan offer their perspectives. First Tennessee Bank Expands Deposits Footprint By Taylor Vaughan, First Tennessee Bank First Tennessee Bank launched remote deposit capture in 2003 as a way to expand its deposits beyond its traditional footprint. Remote Deposit Capture Poised for Explosive Growth By Ed Bacheilder, Dove Consulting Remote deposit capture (RDC) has the potential to do for business customers what ATMs and debit cards have done for retail customers through self-service and convenient 24/7 access. More Banks Adopting Remote Deposit Capture Solutions By Bob Meara, Celent A growing number of financial institutions have embraced remote deposit capture as a viable small and midsize business solution. Banks Will Face Competition in the RDC Space By Danne Buchanan, NetDeposit Third parties that can decouple remote deposit capture from the deposit relationship may pose a threat to banks in the payments space. EXECUTIVE WATCH Wainwright Bank Names Martha Dean Head of Operations Martha Dean joins Wainwright Bank & Trust as SVP and operations manager. Bank of America's Peter Buchhop Honored for Mobile Banking Initiative Buchhop proposed and designed a scalable Web-based architecture that enables delivery of m-banking capabilities to any mobile device. |