RBS to Halve its Technology Platforms February 28, 2014The cost-cutting move is part of an overall restructuring at the troubled bank.
Branch Closures Outpace Openings by Nearly 1,000 Over Last 12 Months July 22, 2013According to data from SNL Financial, areas with a median household income below $25,000, posted their largest number of net closures since 2010.
AML and OFAC Compliance Straining Banks’ Budgets, Study Finds July 15, 2013The cost of compliance with AML and OFAC requirements has been rising to the point that few institutions in a new study said their compliance budgets were adequate. Union Bank Lays Foundation for Growth with Service Virtualization June 05, 2013Union Bank has used a service virtualization solution to improve application testing to replace legacy systems and launch new front end applications as it looks to grow into a top 10 bank. Electronic signature — Part I: Challenges and Business Justification May 22, 2013This 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. The Evolving Branch Environment May 20, 2013While many banks are rethinking their long term strategy for expensive branch networks, there are steps banks can take now to reduce costs and inefficiencies in the branch while providing a better customer experience.
Branch Closures Revved Up in Late 2012, Study Finds January 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. 4 Areas of Focus for Competitive Advantage in Banking in 2013 January 11, 20132013 may end up as "the year of regulatory implementation in banking," but compliance is not the only challenge facing banks that want to outpace the competition. Durbin and the Future of Payments September 30, 2012Although banks lost interchange revenue because of it, the Durbin Amendment also provides opportunities for banks in cost savings and customer convenience. Leveraging Lean in Financial Services: Making It Work December 20, 2010Banks can learn from the automobile industry's success in applying Lean production practices to gain efficiency and improve quality. Achieving Compliance and Cutting Costs Via Automation January 08, 2009Banks can realize cost savings while preserving capital by leveraging automation and outsourcing in response to increased regulation. Strategic IT Cost Reduction Can Preserve Core Strengths January 06, 2009Banks must take a strategic approach to IT cost cutting and preserve core strengths in order to emerge from the downturn in a healthy competitive state. Cost of Replacing Outdated Systems Key for CIOs September 22, 2008 Shrewd Leveraging of Technology and Staff Key to Achieving Cost-Effective AML Compliance April 28, 2008By 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. Offshore Outsourcing of IT Losing Popularity March 27, 2008Most U.S. companies are not outsourcing technology positions to firms outside the U.S. Compliance Costs Continue to Rise March 27, 2008Deloitte study shows companies are paying more than ever to remain compliant. Comerica Awards BPO Contract to Accenture February 21, 2008BPO contract with Accenture will help Comerica cut its procurement expenses. Discipline and Growth February 01, 2007The biggest challenge in 2007 will be to cope with the global growth of the banking industry while maintaining cost, risk, capital and regulatory discipline. Wed, 01 Aug 2007 17:49:50 -0500 February 01, 2007 Reconciliation, Investigations and Exceptions Management Take Center Stage January 11, 2007Effective exceptions management and reconciliation can improve transaction speed, cut costs, reduce risk and improve customer satisfaction. But banks first must break down payments processing silos to gain visibility into the transaction life cycle.