News & Commentary
Content posted in March 2010
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BofA Installs Talking ATMs
News  |  3/31/2010  | 
The bank's 18,000 ATMs are all now equipped with audio equipment and headsets to enable visually impaired customers to use the machines.
New Law Halts PayPal Personal Payments in Japan
News  |  3/31/2010  | 
Payment provider forced to temporarily shut down its personal payments service while it makes changes to comply with a new Japanese law.
Treasury to Sell Citi Stake
News  |  3/30/2010  | 
Government could potentially earn $7 billion on its crisis-driven investment in the bank.
604 Banks Disappeared in 2009 - For Good and Bad Reasons
News  |  3/30/2010  | 
Bank Population Accounting: January 1, 2009 16,374 Add de novos 26 (185 in 2007 before the crunch) Deduct failed banks 140 Deduct acquired banks 464 December 31, 2009 15,796 (This 3.5% net reduction compares to a 2.4% average during the past 16 years)
Fiserv Offers Online Bill Pay Widget
News  |  3/30/2010  | 
Bank customers of Fiserv's Checkfree online bill payment software can now incorporate it into their online banking homepage, according to Fiserv.
NCR Introduces Free-Standing, Weatherized ATM
News  |  3/30/2010  | 
Can be trucked around to sporting events, concerts and other outdoor venues.
AMD Has High Hopes for Magny-Cours in Banks
News  |  3/29/2010  | 
"We see more evaluations taking place of our new processor than we've seen since the dual-core Opteron first came out," says Vlad Rozanovich, director, Americas commercial business for AMD, of the chip manufacturer's Magny-Cours launch today. Rozanovich stopped by our office this afternoon to tell us about the new processor and why he says it's of interest to banks. "Banking is one of the few industries where CIOs care about hardware decisions," he added. Large banks spend billions on technology
What Mencius Might Say About Card Fees
News  |  3/29/2010  | 
According to the lore of ancient China, during the Spring and Autumn Period (between the years 722 - 481 B.C.), Dai Ying, an official from the Song State, decided to reduce taxes. He asked Mencius, "I want to reduce taxes. But we don't have enough revenue to offer as much of a tax cut this year as I would like. What would you think if we were to make a small tax cut this year and wait until next year before implementing the full tax cut?" Mencius replied, "There is a man who used to steal one c
Bank of New Zealand to Install Videoconferencing in All Branches
News  |  3/29/2010  | 
Bank performing makeovers of all 179 branches incorporating new security technology, digital signage and videoconferencing.
BofA to Expand Use of Videoconferencing
News  |  3/29/2010  | 
Going from 28 Cisco Telepresence units to 200 by year end.
FBI Upgrades Bank Robbery Website
News  |  3/26/2010  | 
The FBI has tracked bank robberies in major cities around the U.S. for many years. But this week it came out with a higher-tech, closer to real-time site for tracking robberies called BanditTrackerNortheast.
New England Bank Signs with ACH Federal for Online Payments
News  |  3/25/2010  | 
Startup to provide online bill pay and direct deposit services.
First Bank to Roll Out Online and Mobile Banking, Bill Pay Platforms
News  |  3/25/2010  | 
The bank has chosen Corillian Online, CheckFree RXP and Mobile Money from Fiserv.
Mark to Market Lending: FASB Dances on Banking's Toes
News  |  3/24/2010  | 
This column is not about banking's version of "Dancing with the Stars." Rather, the issue of mark to market may return to the table. Most observers, including yours truly, agree that the doomsday financial meltdown scenario has passed. With a few notable exceptions, the largest financial institutions have survived the crisis and are returning to profitability. However, many mid-size and smaller banks are still struggling. Now, the Financial Accounting Standards Board (FASB) may stomp (not dance)
Six Ways to Better Manage Commercial Real Estate Loans
News  |  3/24/2010  | 
By Jodi Alperstein, managing director, Moody's Analytics Recently, a congressional watchdog panel warned that mounting commercial real estate losses could endanger the banking system and thwart economic recovery. The panel discovered that a total of $1.4 trillion in commercial real estate loans will require refinancing within the next four years. Today, more than half of those loans are underwater, because they were underwritten for properties whose value has dropped significantly. In
Average U.S. Household Spent $37,782 Last Year, Citi-Backed Site Bundle Finds
News  |  3/24/2010  | 
Biggest spenders live in Austin, Texas.
Boeing Credit Union Launches Person-to-Person Payments
News  |  3/24/2010  | 
Using CashEdge's POPmoney service to let members pay other people via mobile phone.
Wells Fargo, Visa Offer Text Alerts to Cardholders
News  |  3/24/2010  | 
Text-alert service to help credit cardholders manage their budgets and identify fraud.
Heartland Financial Rolls Out Mortgage Software to Fulfill RESPA Rules
News  |  3/23/2010  | 
Mortgage module and new account setup module from Cypress added to existing Mark IV lending system to satisfy RESPA requirements and reduce redundancy in loan operations.
Chase's Blueprint More Than A Clever Ad Campaign
News  |  3/22/2010  | 
You may have seen television commercials for Chase's Blueprint program (most depict someone planning to buy a big-ticket item such as a couch or an engagement ring with a Chase credit card to the tune of the Sting song "Brand New Day"). Blueprint is a set of features offered on 20 million Chase cards that are intended to help customers manage their spending and borrowing; it's included in the Freedom, Slate, Sapphire and Ink card progr
With 30 Brands of Credit Union Core Systems in the Market, Who Woulda Thunk We Needed One More?
News  |  3/22/2010  | 
The answer is Fiserv, and the new core product is Acumen. Unlike Henry Ford, Fiserv is not a "one-color-for-all" vendor. In fact, the company has more brands of same-type-applications than any other bank tech company. In the case of credit union core systems, Fiserv now offers 15. An astute reader might correct my count because some core systems developed more than 20 years ago, and designed for commercial banks and thrifts, have been adapted for credit unions. So some of Fiserv's earlier core s
SunTrust to Offer Mobile Browser, Text Alerts to Customers
News  |  3/22/2010  | 
Broadening the bank's mobile banking offerings beyond an existing downloadable application.
FSA Seeks to Make Banks, Brokers Record Some Cell Phone Calls
News  |  3/22/2010  | 
Mobile phone conversations related to orders and transactions in the equity, bond and financial and commodity derivatives markets would need to be stored for six months, at an annual cost to the industry of $27 million.
Bank Austria Revisits Risk Models Post-Crisis
News  |  3/21/2010  | 
The Austrian bank has already developed a universal market data engine for sending accurate market data to its risk models, it's now focused on credit basis risk and new rules from BIS and IASB.
MB Vietnam Bank Accelerates Its Core
News  |  3/19/2010  | 
Capacity management software is helping the bank keep up with fast growth and eliminate bottlenecks, the Vietnamese bank says.
Q&A: BNY Mellon's New CIO John Fiore
News  |  3/19/2010  | 
In an exclusive interview just before his promotion to CIO, Fiore shared his thoughts on technology innovation with Bank Systems & Technology.
BNY Mellon Promotes John Fiore to CIO
News  |  3/18/2010  | 
Former State Street CIO will report to Kurt Woetzel, head of global operations and technology.
Dubno Restructures BofA's Global Markets Technology Group
News  |  3/18/2010  | 
Dubno, a former Goldman Sachs CTO, has plucked three high-level technology executives from competitors JPMorgan Chase, Goldman Sachs and UBS, all former fellow Goldmanites, to join his new group at Bank of America.
Fifth Third to Encrypt Card Payments End to End
News  |  3/17/2010  | 
Working with 180,000 merchants to secure card payments from merchant terminals to payment processor.
Franklin Federal Savings Automates Account Openings
News  |  3/17/2010  | 
Software helps decrease customer wait times, bank says.
Bank Tech Vendors Do Not Live By Core Alone
News  |  3/16/2010  | 
A first-time event occurred in the bank tech space during 2009. Whereas in previous years the list of popular solutions sold by major vendors included ten solutions, in 2009 the list shot up to 34. These 34 are a unique mix of applications. I'd like to have a chat with the pundits who have been using the word "commodities" to describe the offerings of core/ancillary system vendors.
J&B Rolls Out Saas Remote Deposit Capture
News  |  3/16/2010  | 
Believes pay-as-you-go formula will be a good fit for regional community banks and credit unions unwilling to make a large investment in letting customers scan their own checks for deposit.
Dodd Tells PBS Newshour Why His Bill Gives the Fed Consumer Protection Oversight
News  |  3/16/2010  | 
Senator Christopher Dodd, chair of the Senate Banking Committee, discussed his new unveiled financial reform bill with Judy Woodruff on PBS Newshour last night. Dodd's version of the bill would give the Federal Reserve the power to regulate any firm with more than $50 billion in assets and would embed a new consumer protection agency within the Fed.
Bank of Montreal's Ambitious Growth Strategy for Diners Club Cards
News  |  3/15/2010  | 
Out of the ashes of the old Diner's Club card - the first widely-used credit card, which was introduced in February 1950 and most recently owned by Citi - is emerging, phoenix-like, a corporate card business at Bank of Montreal that is currently the fifth largest in the world. Terry Wellesley, executive managing director and group head of BMO spend and payment solutions, stopped by this afternoon at the start of an e
Risk Dashboard Lets Bankers Stress-Test Loan Portfolios
News  |  3/15/2010  | 
WebEquity analytics let bank executives conduct stress-testing on their loans before and after loan approval.
State Bank of India to Deploy 300 Solar-Powered ATMs
News  |  3/15/2010  | 
Solar ATMs said to consume 100 watts of power and to require no air conditioning.
Visa to Debut Online Shopping Tool
News  |  3/15/2010  | 
Card company to offer consumers tools for comparison shopping, payments, tracking purchases and applying discounts.
Trusteer Service to Analyze Online Bank Customers' PCs for Malware
News  |  3/12/2010  | 
Taking the Rapport software some banks ask their customers to download to prevent malware to the next level, where Trusteer reverse-engineers any attacks identified.
Bank of China Steps Up Email Security
News  |  3/12/2010  | 
In the U.S., the bank is using an appliance and software from Proofpoint designed to catch emails that contain inappropriate words and phrases and personally identifiable information.
ING to Use Virtual Desktops for Disaster Recovery
News  |  3/12/2010  | 
Using RingCube's virtual desktop, which copies apps, data and permissions to a USB drive.
New Technologies Make the Most of Banks' ATMs
News  |  3/12/2010  | 
By Mary Knich, Vice President, ATM Products, First Data ATMs remain the number-one customer touch-point for financial institutions.
HSBC Apologizes for Former IT Staffer's Theft of Data on 15,000 Clients
News  |  3/11/2010  | 
Former HSBC computer specialist allegedly tried to sell Swiss private banking account data in Lebanon.
Disaster Recovery From Online Mayhem
News  |  3/11/2010  | 
Over the past 15 years, we all recognize that the role of the internet has expanded dramatically for a wide range of industries including financial services. Internet standards have become widely accepted and the prior generation's mix of proprietary network infrastructure solutions has been, or soon will be, replaced by web-compatible technologies. Physical terrorism and/or tragedy, such as the 9/11 attack on the World Trade Center or Hurricane Katrina, significantly disrupted trading and banki
BofA to Block Debit Card Overdrafts
News  |  3/10/2010  | 
Good news for customers who inadvertently overdrew and were charged $39 a day.
Rise in Online Banking Fraud Costing Banks Customers, Study Says
News  |  3/10/2010  | 
Ponemon Institute/Guardian Analytics study finds 40 percent of small and medium businesses change banks after a fraud incident.
Barclays to Provide Contactless Business Cards
News  |  3/10/2010  | 
Starting in March, all new or re-issued Barclays business debit cards will contain contactless chips.
First Tennessee Bank Rebuilds Customer-facing Web Site
News  |  3/9/2010  | 
Take an inside look at First Tennessee Bank's new customer-facing web site.
Union Bank to Manage Op Risk Using OpenPages
News  |  3/9/2010  | 
Bank plans to use OpenPages platform to build program to measure and manage operational risk and calculate capital requirements.
Accenture Launches Mobile Payment Platform
News  |  3/9/2010  | 
Hosted, pay-per-transaction solution can connect to users on mobile operators or web sites for large-scale implementation of mobile financial services and is said to adjust to extremes of network traffic.
IT Spending Will Rise, But Not Rebound, in 2010, Ovum Says
News  |  3/9/2010  | 
Most IT budgets to be flat this year.
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