BST 2009 Bank Technology Outlook

SPECIAL REPORT: 2009 Bank Technology Outlook
Bank Technology Outlook 2009: Risky Business
This month, BST's editors examine the topics and trends that will set the tone for banking technology decision makers in 2009, with risk management and regulation compliance looming large.

Tech Spending in 2009 to Be Trimmed, Not Slashed
The credit crisis leaves CIOs and other bank execs making do with less.

Strategic IT Cost Reduction Can Preserve Core Strengths
Value-add IT cost reduction can help banks more intelligently gain savings while maintaining core competencies.

Banks to Face Greater Scrutiny in 2009
As the new administration assumes power, it will move to stabilize the financial sector and prevent a repeat of the current financial crisis. But regulators must balance the need for more oversight with the need to promote healthy commerce.

Offshoring of Bank IT Jobs Looks Likely to Rise in 2009
Unless the Obama administration alters banks' intended course, surveys and less formal feedback indicate the use of offshoring will increase.

Personal Finance Tools Bring New Value to Online Channel
Banks will continue to add personal finance functionality to their online applications to better engage customers.

Banks in Europe Must Turn Attention to PSD
The Payments Service Directive will take effect this fall, and banks better be ready, regardless of the economic crisis.

Banks Must Be Mindful of Security When Cutting Costs
Security doesn't always have to be the first area to suffer from banks' belt-tightening.

Community Banks Are Safest Bet
Small banks continue to play it safe, beating larger counterparts during banking crisis.

Finding the Solution for the Delicate IT Balance
Executives from the technology solutions community offer their assessments on the key challenges facing IT execs in 2009.

NEW PRODUCTS
Agiliance Launches RiskVision, IT Risk, Compliance Management Platform
RiskVision automatically aggregates and correlates data and compliance controls across systems, people and processes.

Business Objects Rolls Out Latest Version of BI OnDemand Software
Solution is a complete suite of BI capabilities, including data warehouse, delivered on-demand.

Weiland Financial Releases Commercial Account Analysis 3.06
Firm also has enhanced the View 360 Reports component.

FROM THE EDITOR
Will a Smarter Banking Industry Emerge from the Crisis?
The credit crisis and related fallout have created a kind of "crisis of faith" across banking. But after the anger, sorrow and confusion, a smarter, stronger and more customer-focused banking industry could emerge.

PERSPECTIVES
Industry analysts look back at 2008 and predict what 2009 may bring.

Increased Investment in Deposit-Gathering Initiatives in 2009, Predicts Celent
Bart Narter, SVP, Banking Group, Celent

Banks Must Take Advantage of Opportunities Where They Find Them
Christine Barry, Research Director, Aite Group

Institutions With Capital May Find Vendors in the Mood to Deal
Jeanne Capachin, Research VP, Global Banking, Financial Insights

Firms Should Not Let Short-Term Demands Cripple Long-Term IT Strategy
Virginia Garcia, Sr. Research Director, Cross-Industry, TowerGroup

INDUSTRY WATCH
Citi Bailed Out a Second Time Under TARP.
Citi gets $45 billion cash from governement plus $306B to cover bad assets.

As Defaults Mount, Many Question FICO Scores' Value
Fair Isaac & Co. says many problems in current economic climate are outside the scope of FICO scorecards, but that underlying value as risk assessment tool remains.

Enter FICO 08: The Next-Gen Credit Score
Fair Isaac's latest credit scorecard -- its first since 2002 -- is not a reaction to the subprime crisis, the vendor says.

Ideas Are Stock in Trade for Wells' Execs
Wells Fargo's Innovation Stock Exchange encourages technologists to think creatively, and rewards ideas that others view as valuable.

Crisis Prompts Rise in Outsourcing
Payments spread out in the future appeal more than capital outlay up front.

Bank Failures Relished by Those Paying the Collective Price in High Deposits
Deposit rates are unsustainably high, as consumers credit so coveted, TD Bank exec says.

Community Banks Have the Upper Hand: BAI's RD Attendees
The crisis has small banks seeming the safe havens for now.

News from BAI Retail Delivery: Bank Stocks to Rebound
Second Curve CEO Tom Brown throws naysayers a curve ball.

ING's Kuhlmann Says Banks Should Take Tougher Approach to Customers
In a speech to bankers, Arkadi Kuhlmann noted that the customer is not always right.

Crisis a Marketing Opportunity for ING Direct
The bank that went from zero to $80 billion in a decade reiterates the virtues of saving.

BEST PRACTICES
Barclays Fights Phishing With Smart Bankcards and Readers
One of the world's top banks decided static login details would not cut it for online banking access.

EXECUTIVE WATCH
Cole Taylor Bank Names Conte COO
LaSalle Bank alum Randall Conte is named EVP and COO of Illinois bank.

Fisher to Head IT at Lloyds
Mark Fisher was selected to help Lloyds with its integration of the acquired HBOS.

ROLLOUTS
Dubai Islamic Bank Implements CheckFree Transaction Management and Reconciliation Solution
Solution is implemented within 90 days of contract execution.

Capital City Bank Installs Jack Henry Banking’s Significant Account Monitoring Module
Module is part of the Risk Manager solution, which now consists of two distinct modules.

Zions Bancorporation Implements Orbograph’s Automation 08 Recognition Service
Automation 08 model will enable banks to approach STP levels of efficiency.

Volksbank Rolls Out S1 Enterprise Sales & Service
Volksbank will deploy the customer service solution in branches throughout Eastern Europe to enhance customer service.