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Opinions Without Careful Management, E-Mail Can Become a Liability Technologies can help banks protect customers from e-mail fraud while keeping e-mail from becoming a productivity and legal liability. E-Mail Fraud Comes in Many Shapes Each bank must determine the specific type of fraud it wishes to protect against and then target the use of technologies to minimize or avoid that threat. The Truth Is, E-Mail Security Can Never Be 100 Percent Effective A bank's best bet is to be in a position to defend itself and detect wrongdoing as soon as possible after an e-mail security breach. Banks Should Empower Recipients in the Fight Against E-Mail Fraud In addition to implementing authentication protocols, banks should ensure that e-mail recipients understand e-mail dangers and control their own fates. The E-Mail Archive Can Also Serve as a Security Solution Implementing an e-mail archiving solution will enable banks to detect security breaches and flag potential violations for a compliance officer. First National Bank of Omaha’s Rajive Johri Is Teaching an Old Bank New Tricks First National Bank of Omaha President Rajive Johri is working to transform the 150-year-old bank's legacy environment. The Pressure on Management Is Intensifying as Conditions Continue to Worsen in Banking The recent revelations of the weak financial conditions at Fannie Mae and Freddie Mac, and the run on IndyMac Bank, show that the worst is far from over as the banking industry grapples with the subprime mortgage mess and related global credit crisis. Everything You Know About Banking, You Learned in High School New research from Careerbuilder.com suggests that one's experiences in high school shape their career choices, earnings and professional development. The Credit Crisis Leaves Far-Reaching Consequences for the Banking Industry. Weathering the fallout of the credit crisis, banks will need to transform their lending, underwriting and credit risk management practices. In Wake of Credit Crunch, Service Remains Key to Profits Even amid economic turmoil and looming regulatory changes, making a profit, exceeding customer expectations and maintaining a knowledgeable staff remain the cornerstones to good business. Automation Allows Banks to Better Navigate Compliance and Risk Management By shrewdly leveraging existing and emerging technology, banks can optimize risk management practices and stay ahead of changing regulations. In the Aftermath of the Credit Crisis, Some Banks See a Silver Lining Despite the ramifications of the credit crunch on a wide range of lending lines, many banks -- particularly community banks -- are finding new opportunities in its wake. Effective Risk Management Demands Transparency Across Organization Banks' senior managers, boards, and risk controllers -- the risk trinity -- must work together to achieve a robust, balanced approach to valuation practices, liquidity management and data analysis. Peter Makohon Keeps Wachovia Secure on the Cyber Front Lines Banks Leverage New Telepresence Technologies to Enhance Services and Processes Telepresence and videoconferencing promise to improve customer service, cross-selling efforts, training, and more — but how can banks best utilize the emerging technologies? As Vendors Introduce Less-Expensive Technologies, Banks Can Capitalize on the Promise of Videoconferencing and Telepresence By allowing participants to see and read each other's body language, telepresence and videoconferencing bolster customer confidence and satisfaction as well as enhance interoffice communications such as training sessions, meetings and interviews. Telepresence Allows Banks to Bring Together Global Resources While Offering Quick Return on Investment To best utilize telepresence to improve customer satisfaction and realize enhanced productivity, banks should consider choosing flexible configurations and multipoint capabilities. As Telepresence Becomes More Common in Banking, Use Will Expand to Intercompany Applications To communicate with the greatest number of customers, partners, vendors, and employees, banks can explore a variety of in-house and outsourced telepresence solutions. Telepresence Solutions Help Organizations Enhance Customer Service, Performance and Operations As vendors continue to broaden the telepresence portfolio and banks evolve their network and IT infrastructure, real-time video communication will become increasingly standard. EVP and CIO Paul Johnson Guides BB&T Corp. in Organic Growth After more than a decade of focusing on M&A, BB&T Corp. looks to grow from within, and in the process is transforming the role of its IT department to become a collaborative value center. Data Warehouses Permit a Holistic View of Customers’ Activities Data warehouses and automated transaction monitoring systems are valuable risk-assessment tools that allow banks a clear view of customers' universe of activity. Integrating Systems Essential to AML and SAR Compliance To follow regulators' requirements, banks must leverage and coordinate compliance, risk management and IT department efforts. Shrewd Leveraging of Technology and Staff Key to Achieving Cost-Effective AML Compliance By automating and streamlining procedures and data management, as well as continually enhancing employees' skills, banks can improve productivity and effectively balance compliance with cost-cutting. |19789|18059|18273|17439 As banks look to step up efforts to monitor their customers' financial activities and comply with increasingly stringent anti-money laundering regulations, what kinds of technologies, processes and information are essential to building an effective and accurate AML program? And what new AML challenges are banks likely to face in coming months? The Bank of New York Mellon Integrates Legacy Systems to Offer Customers Only the Best Following the merger of The Bank of New York and Mellon Financial Corp., cohead of treasury services integration efforts Al Briand forges a best-of-breed operations and technology portfolio while continuing to provide Treasury Services customers with innovative new products. Knowledgeable Personnel and Flexible AML/CFT Programs Are Banks’ First, Best Line of Defense In conjunction with training and empowering staff, banks must develop adaptable, robust programs to comply with changing AML/CFT guidelines. How Will Banks’ IT Organizations Fare Amid Industrywide Job Cuts? The Pains of the Global Credit Crunch Are Particularly Acute in New York The crisis at Bear Stearns shows the devastating consequences -- from bank failures to stricter regulation -- on the financial services industry of the subprime mess and global credit crisis, especially in the metropolitan New York region, are still unfolding. The Bank of San Antonio Offers Big-Bank Services With a Small-Bank Touch By relying heavily on outsourcing IT and partnering with technology providers, The Bank of San Antonio's Brent Given, president and CEO, helps the institution offer big-bank products and services in a community banking environment. Corporate Clients Increasingly Looking to Banks to Mitigate Trade Finance Risks Corporations operating in the current economic turmoil increasingly are turning to their banks to serve as financial intermediaries between them and their trading partners to mitigate supply chain risk. The Credit Crisis Has Increased Scrutiny on Trade Finance The global credit crisis has emphasized the importance of cash management while intensifying the spotlight on corporate governance and banks' risk management practices. What new demands will corporates place on their banks in the current uncertain economic environment, and how can banks pursue growth opportunities in global trade finance? By Understanding the Supply Chain, Savvy Banks Can Grow Their Trade Finance Business By supporting their clients' suppliers, banks can reach deeper into the supply chain and create opportunities to increase their trade finance business. Centralized and Single-Platform Operations Reduce Overall Trade Finance Risk Burdened with stricter compliance and regulatory requirements, banks with centralized operations and banks with all of their operations on a single platform face lower risk in expanding their trade finance operations. Trade Debt Continues to Be an Attractive Investment Option in a Shaky Global Economy In a global economy rocked by subprime debt defaults, trade debt should continue to be looked at as a stable investment opportunity, thanks to both time-tested and cutting-edge tools to provide for the financing and settlement of commercial transactions. To Think Globally, Scotiabank Acts Locally According to Bob Grant, SVP, global transaction banking, Scotiabank, even if a bank offers an integrated, global cash management platform, it still needs an extensive branch network to meet corporate clients' full range of needs. Health Savings Accounts Present Huge Opportunity to Banks Health Savings Accounts HSAs offer banks an opportunity to attract new deposits and deepen business banking relationships. But the extent to which they must service account holders, plus banks' ability to navigate regulatory requirements, may determine if they can seize that opportunity. 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. http://www.informationweek.com/ At the end of the day, Umpqua sells products and services, much like a retailer, says Lani Hayward, EVP of creative services. First Tennessee Bank Expands Deposits Footprint 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 Remote deposit capture 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 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 Third parties that can decouple remote deposit capture from the deposit relationship may pose a threat to banks in the payments space. How Will Consolidation in the Document Management Sector Affect Banks? Recently announced mergers between Exstream Software and HP, and Document Sciences and EMC, highlight the importance of document management technologies in the financial services industry. Banks Eye Wealth Management Market As baby boomers transition into retirement, the wealth management market is more promising than ever. To grab a piece of this lucrative opportunity, banks must deploy analytics to segment and identify the needs of consumers and develop customer-centric offerings. Emerging Global Players Have the Resources To Transform the Banking Technology Business Four emerging global "financial power brokers" -- oil-rich countries, Asian central banks, hedge gunds and private equity firms -- are becoming increasingly active in the financial services and business technology sectors, according to a new report by the McKinsey Global Institute. Online Account Opening Provides Myriad Benefits to Retail Banks Online Account Opening From processing efficiencies to competitive differentiation, online account opening offers myriad benefits to retail banks. A successful online account-opening program, however, requires the right products and capabilities, including fraud protection and real-time decisioning. http://www.informationweek.com/ As VP of Web Development and Technology, Navy Federal Credit Union’s John Charles Herzberg Implements the Institution’s Overall Technology Vision AVY FEDERAL CREDIT UNION (Vienna, Va.) is the world's largest credit union with $30 billion in assets, 3 million members and more than 6,500 employees around the world. As VP of Web development and technology, John Charles Herzberg is responsible for implementing the financial institution's overall technology vision to serve customers better, including the judicious use of bleeding-edge technologies that can coexist in a mostly mainframe environment. Herzberg says he blends the best of the traditional mainframe "green screen" with technologies that give the old box new life. Banks Are the First Line of Defense Against Money Laundering Databases and modeling tools are among the systems helping banks analyze the data required to understand customers, monitor millions of transactions and identify suspicious behavior. Sub-Prime Mortgage Crisis Is Not A Failure Of Technology It's been described as a number of things, but it's important to keep in mind that the sub-prime mortgage crises was not about a failure of technology.
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