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.
Fraudsters have developed a variety of methods for initiating fraudulent wire transfers, but a security approach based on data and analytics from customer behavior can be an effective countermeasure to these wire fraud schemes.
This article - the first in a two part series - looks at the successes some banks have had with e-signature adoption and examines some of the remaining barriers regarding regulation and organizational silos that still exist in adopting e-signatures in the financial services sector.
This article - the first in a two part series - looks at the successes some banks have had with e-signature adoption and examines some of the remaining barriers regarding regulation and organizational silos that still exist in adopting e-signatures in the financial services sector.
HP Eyes Tablet Comeback With Android-Backed Slate 7February 24, 2013With personal computer sales falling HP is focusing on growth in the mobile sector with a new Android-based tablet priced lower than the Amazon Kindle or Nexus 7.
RBS Plans IPO For U.S. Arm Citizens In Next Two YearsFebruary 24, 2013British regulators have been pushing Royal Bank of Scotland to sell off its U.S. operation Citizens Bank and an IPO is expected in the next couple of years to sell off shares of Citizens.
Oracle Launches New Compliance and Risk Management SolutionsFebruary 22, 2013New Oracle Financial Services Foreign Account Tax Compliance Act Management targets pending FATCA requirements; expanded Oracle Financial Services Enterprise Risk Management suite addresses challenges around stress testing and model risk management.
Citigroup Bows to Shareholder Pressure, Overhauls PayFebruary 21, 2013Citigroup Inc said on
Thursday it has overhauled an executive pay plan that
shareholders rejected last year as overly generous, revising it
to tie bonus payments more closely to stock performance and
profitability.
Verifone Shares Nearly Halve, Analysts Query ManagementFebruary 21, 2013After cutting its profit outlook for the next quarter analysts are questioning the management of payments hardware provider Verifone as to how they could have been so far off on their profit estimates.
U.S. Banks Provided $45 Billion in Homeowner Relief Under Mortgage DealFebruary 21, 2013Five top U.S. banks have
provided $45.8 billion worth of relief to struggling homeowners
under a 2012 federal-state settlement to resolve mortgage
abuses, according to a report released Thursday by a monitor of
that settlement.
U.S. DOJ Probing JPMorgan Over Bear Stearns Mortgage ProductsFebruary 21, 2013The U.S. Justice Department is
investigating JPMorgan Chase & Co over allegations that
Bear Stearns provided misleading information about its mortgage
products during the lead-up to the financial crisis, according
to people familiar with the matter.
Fiserv Offers New Tools For Managing ATM NetworksFebruary 20, 2013Fiserv has updated its Device Manager solution for managing ATM’s with new analytics-driven capabilities in incident tracking, reporting and resolution.
Identity Fraud at a Three-Year HighFebruary 20, 2013A report from Javelin Strategy & Research finds that more than $21 billion was stolen due to identity fraud in 2012.
Russian Central Banker Slams Vast Criminal Cash ExportsFebruary 20, 2013Russia's central bank chief said
nearly $50 billion, or 2.5 percent of the national income, had
been sent abroad illegally in 2012, much of it controlled by a
single group of people - whom he did not identify.
Bank of America's Moynihan Gets 73 Percent Pay Increase in 2012February 19, 2013Bank of America Corp's CEO Brian
Moynihan was awarded a 73 percent pay increase in 2012, when the
institution resolved crisis-era lawsuits and its stock was one
of the sector's top performers.
Legislation Still Needed On National Cyber Security StandardFebruary 19, 2013While the President’s executive order on cyber security last week brought public attention to the growing issue of cyber threats, legislation is still needed from Congress to help block attacks like those aimed at banks in recent months.
FINRA Fines 5 ING Units $1.2 Million For ViolationsFebruary 19, 2013Wall Street's industry-funded watchdog
fined five affiliates of ING Groep NV a total of $1.2
million for not storing or reviewing millions of company emails,
according to an announcement on Tuesday.
Wells Fargo Launching Personalized ATMsFebruary 19, 2013The San Francisco-based bank is introducing a new interface on its ATMs that it says will offer customers a customizable experience.
EU Privacy Regulators Take Aim at Google Privacy PolicyFebruary 18, 2013European data watchdogs said on
Monday they plan to take action against Google by this
summer for its privacy policy, which allows the search engine to
pool user data from across all its services ranging from YouTube
to Gmail.
New Basel III Provisions Would Have Caused Inflation: ReportFebruary 15, 2013A report from research firm SNL Financial argues that if Basel III had been in effect over the last year, banks would have experienced sizable inflation in their regulatory capital by including unrealized gains and losses.
BBVA Compass Goes National With NBA Banking ProductFebruary 15, 2013Following the bank’s core system transformation it has rolled out its first nationwide product NBA Banking, offering checking and savings accounts with an all-digital experience.
Japan's Orix to Buy Rabobank Asset Management Arm for About $2.6 BillionFebruary 14, 2013Japanese financial services firm
Orix Corp will buy Dutch asset manager Robeco from its
owner Rabobank for about 240 billion yen ($2.6
billion) in a cash and stock deal, sources familiar with the
matter said on Friday.
Ally Financial Completes its Share of Mortgage ReliefFebruary 14, 2013U.S. auto lender Ally Financial has
satisfied a requirement to provide $200 million in home loan
modifications and other consumer relief under last year's $25
billion national mortgage settlement, the pact's monitor said
Thursday.
Visa Rolls Out Managed Mobile ServiceFebruary 14, 2013The card giant announced it is rolling out a plug-and-play mobile service targeted to the underbanked.
U.S. Judge Dismisses ATM Fee Collusion LawsuitsFebruary 13, 2013A federal judge has dismissed antitrust
lawsuits accusing Visa Inc, MasterCard Inc,
JPMorgan Chase & Co, Bank of America Corp and
Wells Fargo & Co of conspiring to fix automated teller
machine fees.
