News & Commentary
Content posted in January 2003
Technology Will Drive RESPA Reform, Says HUD
News  |  1/27/2003  | 
Proposed changes to the Real Estate Settlement Procedures Act, or RESPA, would have a substantial impact on the $50 billion annual market for consumer mortgage settlement services, according to the U.S. Department of Housing and Urban Development.
Bush Administration To Request $59 Billion IT Budget, Up 12 Percent From Current Year
News  |  1/27/2003  | 
The Bush Administration will request $59 billion from Congress for IT spending in fiscal 2004, up 12 percent from the current fiscal year, according to a high-level federal IT official. Also, six core business functions will be consolidated, including financial management.
SIX SIGMA IN FINANCIAL SERVICES: Customer Focus and Institutional Performance
News  |  1/27/2003  | 
How can leading financial services institutions like Bank of America and J.P. Morgan Chase be bragging about "six sigma", when this expression still has a manufacturing stigma?
The 'Net threat to Banking: Convergence of Services Force Banking Industry to Think About the Box
News  |  1/22/2003  | 
Stratus Technologies' Phil Izzo discusses the latest--and most significant--threat to banks' ATM customer bases: retail outlets.
Citizens Trust Bank Aims Big
News  |  1/17/2003  | 
Citizens Trust goes toe-to-toe with the big banks using in-house image capture, online statements and branch automation technology.
A Look into Banking Trends for 2003
News  |  1/17/2003  | 
Heightened competition from non-banks, a persistent bearish market, and a general erosion of consumer confidence will continue to influence banks' IT decisions in 2003. In particular, Celent expects banks to step up their privacy, security, and risk management efforts.
Chinese Banks Increase Tech Spend
News  |  1/17/2003  | 
An immense branch network, entry into the WTO and domestic competition will call for significant IT spending in China, according to Celent.
Bank One Pulls the Envelope
News  |  1/13/2003  | 
In a limited pilot in Indiana and Kentucky, Bank One customers will be able to deposit checks and cash, without an envelope, directly into ATMs.
Outsmarting Complexity
News  |  1/13/2003  | 
A handful of companies in diverse markets have overcome the fear and inertia of an uncertain economy to invest in IT with an eye toward streamlining operations and quickly adapting to change.
Excelling With Secure Messaging
News  |  1/13/2003  | 
Secure messaging simply provides a private channel through which customersand financial institutions (FIs) can communicate regarding account numbers,transactions, balances and related information. This opportunity, however,will go unrealized unless banks and card issuers improve the service and efficiency of their secure messaging offerings.
Commerce Bank Manages Knowledge Profitably
News  |  1/8/2003  | 
Commerce Bank discovered that its most precious asset-knowledge-was locked away in file cabinets and in the heads of its workers.
BofA To Install Secure Messaging System
News  |  1/8/2003  | 
In deciding how to send confidential information, like monthly statements, securely to corporate clients and consumers, BofA officials have abandoned conventional approaches in favor of guerilla tactics, where businesses and technical staff engage each other in a war of ideas.
Paying For The Future
News  |  1/8/2003  | 
Electronic payments is a trend Leonard J. Heckwolf first started tracking 12 years ago when he headed the ACH business for then Chase Manhattan Bank.
Bull’s Eye
News  |  1/8/2003  | 
Merrill Lynch takes aim at maximizing IT return.
Portal Power
News  |  1/8/2003  | 
A new Web infrastructure helps David Boyles steer ANZ Banking Group toward universal accessibility.
Two Banks Join Image Exchange
News  |  1/8/2003  | 
Two banks in the central plains region achieve full electronic truncation in the 10th Federal Reserve District.
California Savings Chooses Aurum
News  |  1/8/2003  | 
California Savings Bank inks a five-year deal with Aurum Technology, under which the bank will implement Aurum's core processing system and its integrated electronic banking suite.
Bankers Bank Taps Risk Suite
News  |  1/8/2003  | 
Bankers Bank licenses the BorderShield and GLB Compliance products from Guarded Networks to deliver to its financial institution customers.
Bank of Stockton Offers Aggregation
News  |  1/7/2003  | 
Bank of Stockton licenses an account aggregation and Internet banking platform developed by Corillian.
First Niagara Falls For S1
News  |  1/7/2003  | 
When First Niagara Bank needed an all-purpose technology solution for delivering retail and commercial banking services via branches, telephone and the Internet, it turned to S1 and its Enterprise Solutions platform.
Citibank Installs E-Learning Tool
News  |  1/7/2003  | 
CitiFinancial suffers from a case of tunnel vision in its contact center.
Harris Bank Eases EDI Pain For Customers
News  |  1/7/2003  | 
Harris Bank taps Mercator Software to enhance SAP/ERP system compatibility between the bank and its corporate customers-users.
Principal Bank Taps Appro
News  |  1/7/2003  | 
Principal Bank installs LoanCenter for Consumer.
Key Installs Web-based Survey Tool
News  |  1/7/2003  | 
For KeyCorp, gathering information via surveys is an essential first step in the decision making process.
World Briefs
News  |  1/7/2003  | 
Grupo Uno licenses AwardTrack; Reserve Bank of Zimbabwe installs CRISP; Saudi Arabian Monetary Agency contracted with Logica to build a payments system incorporating electronic bill payment, e-commerce, m-commerce and smart cards.
Glasgow Opens International Financial District
News  |  1/7/2003  | 
Glasgow doesn't get a lot of daylight this time of year. But it's getting brighter and brighter underground due to the telecom traffic on the fiber-optic cables used by financial services firms.
Italian Bank Deters Money Laundering
News  |  1/7/2003  | 
Banca Monte dei Paschi di Siena licenses anti-money laundering software from Financial Objects.
Amicus Retreats From U.S.
News  |  1/7/2003  | 
Canadian Imperial Bank of Commerce shuts down the U.S. operations of Amicus and also scales back e-banking operations in Canada.
News  |  1/7/2003  | 
Bank One taps ImageMark from NCR; SunTrust Banks joins DealerTrack; Commonwealth National Bank goes live with Web Cash Manager.
Associations Upgrade Networks
News  |  1/7/2003  | 
MasterCard and Visa enhance their communications networks, authorization systems, clearing and settlement systems and messaging protocols.
EBPP Users Are Affluent, Study Says
News  |  1/7/2003  | 
Consumers from affluent families are far more likely to use EBPP than those from non-affluent families.
SVPCo To Launch Image Exchange
News  |  1/7/2003  | 
The end of the check-clearing paper trail is getting closer.The SVPCo uncorks plans for a service that will enable banks to stop moving paper checks around the country and start sending electronic data and check images instead.
Busted ID Theft Ring Part of A Growing Epidemic
News  |  1/7/2003  | 
A scheme that allegedly bilked consumers out of millions of dollars in phony credit card charges and other losses is the largest in a growing number of identity theft cases that have hit consumers, financial services companies and law enforcement agencies.
MBI, MasterCard, KeyCorp Offer Health Care Debit Cards
News  |  1/6/2003  | 
Keeping track of employee flexible spending account programs is a time-consuming task. Health care debit cards may help streamline the process.
To Catch A Thief
News  |  1/6/2003  | 
The Patriot Act has firms investigating how technology can help prevent them from being a clearing house for criminals.
Bank On Outsourcing For Big Savings
News  |  1/6/2003  | 
Deutsche Bank and Washington Mutual want to cut costs but stay cutting edge.
Getting The Message
News  |  1/6/2003  | 
It has been awfully hard to reach me by e-mail of late, that the messages you have been sending to have been bouncing back to you at a frequent rate. Alas, the problem lies in our new e-mail filtering device.

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