News & Commentary
Content posted in February 2008
In Case of Emergency, Use Vault Kit
News  |  2/28/2008  | 
Sometimes I like to share with readers some low-tech solutions to potential problems at banks. Take vaults, for example. What happens if someone-employee or customer-gets locked inside? Sure, there are procedures at banks to ensure something like that doesn't happen. But there is still that possibility. Well, Diebold is now offering "vault survival kits" for financial institutions. The kits are one of those "just in case" things that may come in handy one day.
Can Remote Deposit Capture Drive Growth?
News  |  2/28/2008  | 
Banks are increasingly adopting remote deposit capture solutions (RDC), but can they drive growth? First Tennessee Bank's Taylor Vaughan, Dove Consulting's Ed Bacheilder, Celent's Bob Meara, and NetDeposit's Danne Buchanan offer their perspective.
More Tales of Customer Relationship Building: How Not to Court Gen...Z?
News  |  2/28/2008  | 
She's baaaaack! Yes, it's everyone's favorite obnoxious British "woman"-Little Britain's Carol Beer, and she's up to more banking shenanigans.
Bank of America’s Peter Buchhop Honored For Mobile Banking Initiative
News  |  2/26/2008  | 
Buchhop proposed and designed a scalable Web-based architecture that enables delivery of m-banking capabilities to any mobile device.
Delaware County Bank & Trust Dedicates 2008 IT Budget to Technology Maintenance
News  |  2/26/2008  | 
Rather than spend money on new technology, Delaware County Bank & Trust plans on maintaining systems in 2008.
Wainwright Bank Names Martha Dean Head of Operations
News  |  2/26/2008  | 
Martha Dean joins Wainwright Bank & Trust as SVP and operations manager.
Fremont Bank Gains Clarity Into ACH Risk
News  |  2/26/2008  | 
Fremont Bank adds Laru's ACH Clarity product to monitor ACH transactions.
Banks Will Face Competition in the RDC Space
News  |  2/26/2008  | 
Third parties that can decouple remote deposit capture from the deposit relationship may pose a threat to banks in the payments space.
More Banks Adopting Remote Deposit Capture Solutions
News  |  2/26/2008  | 
A growing number of financial institutions have embraced remote deposit capture as a viable small and midsize business solution.
Remote Deposit Capture Poised for Explosive Growth
News  |  2/26/2008  | 
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.
First Tennessee Bank Expands Deposits Footprint
News  |  2/26/2008  | 
First Tennessee Bank launched remote deposit capture in 2003 as a way to expand its deposits beyond its traditional footprint.
Fifth Third Bank Uses Efficiency to Fund New Projects
News  |  2/26/2008  | 
Fifth Third Bank drives IT efficiencies to create more IT investment dollars for future initiatives.
Regulators Focused on Anti-Money Laundering
News  |  2/26/2008  | 
A risk-based approach is the No. 1 success factor for anti-money laundering programs, survey says.
Mitek Mobile Phone Remote Check Capture Offers New Channel Choice
News  |  2/26/2008  | 
Mitek Systems introduces remote check capture via mobile phones, adding to customers' channel choices.
FICO Score Back in Lenders’ Risk Management Arsenal
News  |  2/25/2008  | 
Fair Isaac's forthcoming FICO 08 will be part of the company's new Risk Management Suite, along with features such as the Credit Capacity Index, which gives lenders better insight into someone's capacity to take on more debt.
If I Were The CFO Of A Bank Tech Services Company, I Would...
News  |  2/25/2008  | 
You can fill in the rest of that title statement as you see fit. The reason I am writing this analysis is because clear-thinking investment analysts believe that when banks are in trouble, they will cut back on tech spending, among other expenses. That's a logical position to take, at least on the surface, but there's more to this issue than a surface look, and I'd like to explain the details.
Efficiency Ratio: A Focal Point for Change In Lending
News  |  2/25/2008  | 
By J. Brian King, Benchmark Consulting International One of the greatest challenges faced by financial institutions is sifting through and processing data in order to extract meaningful information on which to base their decisions, according to a whitepaper by BenchMark Consulting International (Atlanta). Understanding and properly leveraging internal data as well as appropriate external data can allow lenders to confirm where they are perform
U.K. Study: Divorce Easier Than Switching Banks
News  |  2/25/2008  | 
It looks like marriage has taken another hit, it seems: This time at the hands of the banking industry. Well, somewhat. According to a study by Mintel conducted on behalf of the viewers of the BBC's Watchdog program, many in the U.K. are apathetic when it comes to seeking a new financial services provider versus opting out of a marriage, business partnership or employment.
Exclusive TowerGroup Research Report: Bank Tech Spending in 2008
News  |  2/21/2008  | 
Though banks' IT budgets are likely to shrink if economic conditions worsen, demand for technologies that improve efficiency and integration, client engagement, and security and fraud management will continue.
Banks Scrutinize Lending Technology and Underwriting Practices Following the Credit Crisis
News  |  2/21/2008  | 
With no immediate end to the credit crisis in sight, banks are going back to the drawing board on lending strategies and demanding more of technology.
Umpqua Bank Functions Like A Retailer, Head of Marketing Says
News  |  2/21/2008  | 
At the end of the day, Umpqua sells products and services, much like a retailer, says Lani Hayward, EVP of creative services.
BART Pilot Allows Users to Pay for Mass Transit Fares With Mobile Phones
News  |  2/21/2008  | 
San Francisco mobile phone-based pilot allows users to pay for mass transit fares and food.
Wells Fargo to Offer Weekend Sweep Service to Small Businesses
News  |  2/21/2008  | 
Wells Fargo offers small businesses the chance to earn interest on their checking accounts.
Washington Mutual Relaunches
News  |  2/21/2008  | 
WaMu relaunches its Web site with enhanced navigation to improve the customer experience.
Comerica Awards BPO Contract to Accenture
News  |  2/21/2008  | 
BPO contract with Accenture will help Comerica cut its procurement expenses.
Document Automation Vendors Expanding Focus to Enterprise Content Management
News  |  2/21/2008  | 
Document automation solutions are becoming a focus of enterprisewide content management systems.
Bank CIOs Prepare To Tighten IT Belts in Expectation of Recession
Commentary  |  2/21/2008  | 
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.
Once Again, It's The Economy, Stupid
News  |  2/19/2008  | 
On a 60 Minutes segment recently I heard Andrea Mitchell say she couldn't get a straight answer from Alan Greenspan when she asked him what he wanted for breakfast. Instead she got his usual convoluted reply so often presented to Congress.
Opportunities for Banks as Corporates Continue to Shun Treasury Workstations
News  |  2/15/2008  | 
Albonetti & Co. recently released findings of a study in which it surveyed 200 corporates worldwide. It found, probably not surprisingly, that a good majority of companies do not use treasury workstations, the combination of hardware and applications that automate most core treasury processes.
ING to Shutter Its Presence in Second Life
News  |  2/13/2008  | 
It looks like Dutch banking giant ING will be joining the legions of smaller (and in some cases, somewhat shady) financial institutions in leaving the virtual world of Second Life. However, unlike some of its counterparts in the virtual world, the move is not the result of financial insolvency. Rather, ING says the decision was driven by its desire to better concentrate on its acquisition of Postbank.
Spammers, Phishers, Fraudsters and Dumb Internetpeddlers Oughta Attend a Seminar
News  |  2/11/2008  | 
It's been at least 15 years since I "enrolled" on the Internet, and I knew it would take a while for it to mature, where mature means getting rid of the scam artists. I was wrong. The Internet will never mature to my idea of a clean, wholesome resource. Today's interlopers must think we're all stupid, and we'll fall for their con games.
Security at the Branch Level Often Relies on Old Fashioned Measures
News  |  2/11/2008  | 
I recently ran into this interesting item while perusing my usual news sites. In short, the Florida Bankers Association wants to encourage its members to institute a policy where customers cannot wear sunglasses, hats or hoods when entering a branch for service. This is the FBA's latest effort in helping member banks ramp up security at the "store" level after a spike in bank robberies in the state.
CheckFree Ushers in True Online Banking
News  |  2/7/2008  | 
CheckFree's new Remote Deposit Capture stands to make online banking truly online.
So You'd Like To See Some Changes In Banking, Eh?
News  |  2/4/2008  | 
Two years ago, I saw a list of opinions regarding his/her/their "own grandiose challenge to the industry." In my opinion, it was more like an in-your-dreams list, so I saved it to see if a couple of years would produce any kind of change close to the dream. The short answer is, it would take decades or fuggetaboutit. Here's the score card:

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