Content posted in July 2007
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Large Bank Core Conversions In The U.S. -- Lottsa Talk, Little Action
First, let me describe the arena this blog is about:
• "Large banks" include 145 financial institutions (FIs) operating in the U.S. The good people at Highline Data came up with 145, but I reduced it to 122 because I look at corporate entities, not charters.
• The list includes asset sizes of $8 billion to $1.3 trillion.
Basel II Agreement Reached, Basel IA Dropped
By Nancy Feig
The federal banking regulators on July 20 finally reached an agreement regarding the implementation of Basel II in the United States. The agreement will lead to the finalization of a rule implementing the advanced approaches for computing large, international banks' risk-based capital requirements.
Bank Statements: Paper or Pixels?
For a while now, the trend in banking is to push consumers to use electronic statements. Whether to "keep green" or to just save some money, e-statements are pretty commonplace these days. Consumers seem to have accepted them.
FEATURE: SEPA Will Go Beyond Treasury and Payments Departments for Corporates
ABN AMRO's Boden says that corporate awareness of SEPA on the rise and the implications are broader than expected.
BRIEF: First Horizon On Track with New Chief Credit Officer
John O'Connor, chief credit officer of First Horizon National (Memphis, Tenn.) for 18 years, is nearing retirement age and is transitioning chief credit officer duties to Greg Olivier, who has worked for the company since December 2003. O'Connor will continue full-time until at least the end of the year and will remain in a consulting role until May 2008.
BRIEF: Hypercom CEO Keiper to Step Down, March Named to Board
William Keiper, CEO of payments solutions provider Hypercom (Phoenix), is stepping down as CEO of the company and will be resign as a member of the board of directors effective Aug. 15, 2007. Philippe Tartavull, president of Hypercom, was promoted to chief operating officer effective immediately. Ian Marsh, EVP and managing director, Asia Pacific Region of the Western Union Company, was appointed a member of the board.
Coinstar Beefs Up Its Remittance Business with GFC Buy
Coinstar's purchase of international money transmitter indicates thee growing importance of the remittance market to financial services providers of all kinds.
BRIEF: Open Solutions Contract Renewals
Open Solutions (Glastonbury, Conn.), a provider of enterprise-wide data processing technologies, announced four contract renewals for its TotalPlus outsourced core data processing platform. The renewing banks include Columbia Bank (Fair Lawn, N.J.); OceanFirst Bank (Toms River, N.J.); Pentucket Bank (Haverhill, Mass.); and Ridgewood Savings Bank (Ridgewood, N.Y.).
BRIEF: IBB Opts for SunGard InTrader
Independent Banker's Bank (Springfield, Ill.) selected the InTrader solution from SunGard (Hopkins, Minn.) for securities processing, clearance and settlement for bank treasury and investment portfolio management. IBB will use InTrader in an integrated ASP-based environment to help support business growth, achieve greater operational efficiencies and deliver enhanced services to more than 300 community banks across five st
What's In Your Shopping Cart?
I have said several times that the bank tech industry is experiencing a lull. There's nothing brand new to buy. And most vendors are noticing the lull in their revenue figures.
Update: Credit Cards in NYC Taxis
By Maria Bruno-Britz, Bank Systems & Technology
I knew it wouldn't take long.
A few weeks ago, I posted about an initiative by New York City and Visa to install credit card readers with contactless capabilities in all NYC cabs. Knowing how averse cabbies tend to be toward their fares paying by card, I was a little skeptical as to the success of this plan.
Mobile Banking from the Public's Perspective
By Maria Bruno-Britz, Bank Systems & Technology
Sometimes I'm so wrapped up in our little banking world here that when I see the general public taking an interest in bank technology, I think it's a pretty big deal.
While perusing the site Slashdot-which bills itself as providing News for Nerds-I noticed someone posted an excerpt from CNBC.com about the recent
Common Threads: A Week's Worth of News in (Bank) Technology
By Nancy Feig
July 16-20, 2007
BRIEF: Capellas Named CEO of First Data
By Maria Bruno-Britz, Bank Systems & Technology
Denver-based e-commerce and payments solutions provider First Data named Michael Capellas its new CEO. following completion of the acquisition of the company by an affiliate of Kohlberg Kravis Roberts & Co. (KKR). Capellas will succeed Henry C. "Ric" Duques who has served as Chairman and CEO since November 2005, and previously served as Chairman from 1989 to 2003 and CEO
BRIEF: Sants Named Chief of UK's FSA
By Maria Bruno-Britz, Bank Systems & Technologyy
Hector Sants was appointed chief executive of the Financial Services Authority (FSA) as of July 20, 2007. Sants succeeds John Tiner, who will step down at the Annual Public Meeting on July 19.
BRIEF: People's United Secures Itself with Vasco Solution
By Maria Bruno-Britz, Bank Systems & Technology
People's United Bank (Bridgeport, Conn.) will use Zurich-based security solutions provider Vasco's Digipass GO3 and VACMAN Controller to protect their high-value transactions. The Digipass-secured applications include ACH, Wire Transfer, Information Reporting, Internal Transfers and Stop Payments Applications.
BRIEF: Capital Markets Cooperative and Fannie Enter Alliance
By Maria Bruno-Britz, Bank Systems & Technology
Capital Markets Cooperative (CMC; Ponte Vedra Beach, Fla.), a provider of risk mitigation solutions to mortgage bankers, entered alliance with Fannie Mae (Washington, D.C.) that will help members of CMC when selling loans to the secondary market. CMC members will now enjoy access to Fannie Mae's Desktop Underwriter platform, in addition to benefits such as advantageous pricing, i
BRIEF: SunTrust Picks Reveleus for Basel
By Maria Bruno-Britz, Bank Systems & Technology
Atlanta-based SunTrust Banks will use i-flex's (Redwood Shores, Calif.) Reveleus Basel II Solution. The solution will span all activities of the bank including consumer, commercial, mortgage, private clients and capital markets.
Surprise! Kids Are Going to Bank in New Ways
By Nancy Feig
According to a new Celent report, The Millennials, Financial Services, and the Web, the "Millennial" generation, born between 1982 and 2000, will represent the next mass affluent group and financial institutions will need new marketing approaches to reach them.
Why Aren't The Tails Wagging The Dogs?
I'm putting this question to the readers of Bank Systems and Technology because based on feedback that I have seen, some of you have the answer, whereas I don't.
Consumer Mistrust in Banks Growing
By Nancy Feig
Consumers don't trust banks. That's what I'm hearing. New immigrants don't trust banks because of bank failures in their home countries. Little old ladies store wads of cash in their mattresses because memories of the Great Depression still haunt them. These consumers often fall into the so-called "unbanked" or "underbanked" category, those that are hesitant to bring their money into any formal financi
iPhone May Turn Into an iHeadache for IT
By Maria Bruno-Britz
Unless you've been living under a rock for the past month, you were among the millions of people to hear about the launch of Apple's iPhone. The handy little device is designed to serve all your on-the-go music playing, Web browsing and movie playing needs. Oh, and it's a phone too, so you can actually make calls and you have your address book/contact functions thrown in there as well. I know there are ot
Congress Gets a Peek at ISO 27001 Security Standard
Efforts are underway to implement a more universal approach to securing data, networks and all things IT using the ISO 27001 security standard.
Not All Banks Reaping Web 2.0’s Potential
While Web 2.0 tools can help banks to collaborate with customers, partners and employees in a manner that is more responsive, compelling and effective than ever before, lack of experience and fear of change may hinder some institutions from realizing all that Web 2.0 has to offer.
UMB Utilizes Archer To Comply With GLBA
UMB Financial Corp. centralizes asset management and reduces risk with Archer Technologies solution to comply with the Gramm Leach Bliley Act (GLBA).
Northern Trust’s Jana Schreuder Discusses The Challenges of Growth and Globalization
Schreuder focuses on keeping Northern Trust's two distinct businesses — institutional and private wealth management — integrated and in lockstep with the organization's strategic direction while dealing with the challenges presented by growth and globalization.
Banks Aren’t Securing USB Ports, Study Reports
Removable media devices pose dangers for banks without effective controls, according to a recent study by IT asset-management solutions provider Centennial Software.
Bank of America Eco-Friendly Skyscraper Sets Tone For Bank Environmentalism
The $1.3 million, 2.1 million-square-foot New York structure was designed for Bank of America to be the world's most environmentally responsible office building.
Take A Vacation, But Don't Turn Off Those Little Gray Cells
It worked for Hercule Poirot; it should work for "investigators" in the bank tech world. What we need now more than ever before are thinkers, disrupters, analysts, inventors, and new ways of doing things. The mechanical processes are pretty much operating at peak performance after more than 45 years of using improved technologies.
The Pressure Is On Banks and Their IT Organizations To Address Environmental Issues
HSBC is the latest among leading financial institutions to commit to addressing climate change and other environmental issues in everything from lending practices to IT operations, but there are no simple strategies for this complex issue.
South Carolina Bank and Trust Solves Staffing Problem With GMT Solution
GMT Planet produces a scheduling forecast that breaks staffing needs down into 15-minute increments, and includes details such as the timing of employees' breaks and lunches.
California Bank & Trust Adopts Provenir Platform To Control Small Business Loans
With the goal of gaining more autonomy and speeding up changes to credit-scored loans, the California bank implements Provenir's online small business loan platform.
New BITS Head to Continue to Stay Course on Risk and Security
Leigh Williams will focus on reinforcing BITS' mission of providing banks with a security and risk resource.
Banks Need To Engage Corporate Customers To Provide Payment Solutions
Banks and commercial customers need to work together to develop meaningful payments standards, Gartner study says.
Acquisition Obsession Results In Bank Deposit Growth
Aite study shows that banks need to concentrate more on existing customers to grow deposit base.
Business Process Management Moves Beyond Workflow to Business Optimization
Banks are using business process management to improve the customer experience.
Federal Reserve In Deal with Unisys for Check Image Processing
Feds plans to upgrade existing check image processing system to lead to greater efficiencies.
Avian Flu: Are Banks’ IT systems ready?
U.S. Treasury to test financial services response and business continuity plans to avian flu pandemic.
Get Ready For Some Great News From the Tech Vendor Community
If you've been reading my blogs, you know I tend to focus on things that are wrong. I'm not a PR guy; I'm the plumber of the bank tech world. I fix broken "pipes." So this prelude is just to convince you that I'm not pulling the wool over anyone's eyes.
Payment Card Business Still Offers Variety of Opportunities for Growth
The future of cards is still bright, but the sky's the limit on just what form card payments will take.
Banks Launching Mobile Banking for Commercial and Wealthy Clients
Banks are starting to look beyond mass retail customers in their mobile banking initiatives.
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