At the recent SAS Financial Services Executive Summit, bankers gained insights into how to address the challenge of aligning technology and business in the age of big data analytics.
After PayPal launched a program last week offering free transaction processing for merchants who switch to its point of sale card reader, Square hit back yesterday by announcing it will be offering a P2P payments service via email.
E.U.'s Barnier Says U.S. Should Respect Basel IIIJanuary 31, 2013The United States should
implement Basel III bank capital rules in the same way as Europe
does, at the beginning of 2014, the European Union official in
charge of regulation said.
RIM to Rename Itself BlackBerryJanuary 30, 2013Research In Motion Ltd
is changing its name to BlackBerry, the company
announced on Wednesday, in move to refresh its tarnished image
as it begins marketing a reengineered line of BlackBerry 10
smartphones.
Google Expected to Win Mobile Wallet Wars, Study FindsJanuary 30, 2013A new survey released yesterday by ACI Worldwide found that the majority of retail professionals involved said Google would beat out PayPal and Isis in the mobile wallet wars.
Check Scanners That Detect Fake I.D.'s Help One Bank Fight FraudJanuary 30, 2013Check scanners from CTS North America have been enabled with technology that detects fake I.D.'s that have helped one community bank secure branch transactions and can authenticate remote check deposits.
Treasury Needs Exit Plan for Ally Financial, Says WatchdogJanuary 30, 2013The U.S. Treasury needs to develop a
concrete plan for exiting its 74 percent stake in auto
financing company Ally Financial Inc, the second-largest
remaining recipient of federal bailout dollars, an internal
watchdog said in a report released Wednesday.<
Two U.S. Senators Press Justice Department on Bank ProsecutionsJanuary 29, 2013Two U.S. senators on Tuesday
questioned whether the Justice Department has been aggressive
enough in prosecuting misconduct at the largest banks and asked
the department to turn over information on how it determines
punishments.
U.K. Watchdog Closes Lehman Case Against Auditor E&YJanuary 29, 2013Britain's accounting watchdog
declined to take any action against Ernst & Young (E&Y) over its
auditing of Lehman Brothers before the U.S. investment bank
failed in 2008 and triggered a near meltdown in global markets.
BofA's Moynihan Calls for Renewed Focus on CustomersJanuary 28, 2013Bank of America Corp must focus
on improving customer service as it moves past its crisis-era
problems, CEO Brian Moynihan said in a letter sent to employees,
signaling one of his strategies for boosting revenue at the
bank.
Non-Banks Take Early Lead in Mobile Wallet RaceJanuary 28, 2013A report from Carlisle & Gallagher finds that nontraditional financial institutions are the current mobile wallet frontrunners, though the battle is far from over.
Bank of America Begins Moving $50 Billion of Derivatives to U.K.January 27, 2013Bank of America has begun
moving $50 billion of derivatives out of its Irish-based
operations into its British subsidiary, The Financial Times
reported on its website on Sunday, citing people close to the
operation.
Wall Street Executives Fret About Talent DrainJanuary 27, 2013New regulations combined with years of scandals and bad press has driven executive talent away from Wall Street and into Silicon Valley.
Square COO Quit After Sex Harassment AccusationJanuary 25, 2013After mysteriously quitting the prominent payments company it was discovered that Square's COO, Keith Rabois, is facing accusations of sexual harassment.
Longtime Diebold CEO Swidarski Out After 17 YearsJanuary 25, 2013The company, a major manufacturer of ATMs, said the move was "in our stakeholders' best interests to make a change in leadership at this time."
Obama to Tap Former Federal Prosecutor to Head SECJanuary 24, 2013President Barack Obama will
nominate former federal prosecutor Mary Jo White to head the
Securities and Exchange Commission (SEC), a White House source
said, restoring the agency's power to work on its overhaul of
Wall Street.
More Than Half of Banks Hit by DDoS Attacks Last Year, Study FindsJanuary 23, 2013In a recent survey conducted by the Ponemon Institute, more than half of the banking IT professionals in the study said their bank had experienced at least one DDoS in the previous 12 months.
Bank Websites Must Meet Digital Customers' Needs, Says ForresterJanuary 23, 2013The secure websites of the largest retail banks in the U.S. are not evolving to meet the current needs and expectations of consumers in a digital environment, said the research firm.
Top E.U. Banks Told to Write "Living Will"January 23, 2013Top banks in the European Union
must present so-called "living wills" by the year-end spelling
out how they would survive a crisis without taxpayer aid.
Branch Closures Revved Up in Late 2012, Study FindsJanuary 22, 2013The pace of branch closings in the U.S. more than doubled in the last quarter of 2012 as banks looked to cut costs, a new report by SNL Financial found.
