News & Commentary
Content posted in July 2009
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ProfitStars Launches Document Capture Service
News  |  7/31/2009  | 
ProfitStars has unveiled Enterprise Conversion Solutions (ECS) Document Capture Solutions, a scanning service.
SWIFTNet Goes Live in Hong Kong for High-Value Payments
News  |  7/30/2009  | 
SWIFTNet goes live in Hong Kong for high-value payments, as ClearingHouse Automated Transfer System and Hong Kong Monetary Authority switch from proprietary networks.
Q&A: U.S. Bank's Meheriar Hasan Says Consumers Are Leading the Drive to Online Banking
News  |  7/29/2009  | 
U.S. Bank's new Internet channel manager says thinking from the customer's perspective and providing a seamless cross-channel experience are the best ways to leverage the power of the online channel.
Perspectives: Banks Must Respond to Intensifying Privacy Regulations
News  |  7/29/2009  | 
The new Massachusetts Data Security Regulations could create serious challenges for financial services companies that handle the personal data of Massachusetts residents.
ATM Fraud Scheme Comes Crashing Down
News  |  7/29/2009  | 
Only in New York. And New Jersey. And Pennsylvania. A foursome of so-called "financial whizzes" apparently worked together on a multi-year ATM scheme which, according to reports by the New York Post, bilked banks in these states of up to $1 million.
Bank of America Branch Closures and Channel Evolution
News  |  7/29/2009  | 
Is it finally happening? Is the industry actually approaching that long-sought "critical mass" where self-service channels make a dent in the use of full service branches?
BMO Bank of Montreal Enhances ebusiness Operations Using Gomez Web Application Experience Management Solutions
News  |  7/28/2009  | 
BMO Bank of Montreal Enhances ebusiness Operations Using Gomez Web Application Experience Management SolutionsExpands existing contract for on-demand Web performance monitoring services in strategic move to further strengthen brand and competitive advantage in the online financial services industry.
Bank Tech M&A Activity is Predictable, Most of the Time
News  |  7/28/2009  | 
It was during the dog days of summer a few years ago that things in the bank tech world got a bit boring. So I stuck my neck out with 30 predictions.
Taking Another Look at Implementing e-lending Technology
News  |  7/27/2009  | 
By Andrew Krieger, Encomia When bank CIOs think about technology implementation, it is likely that they assume it involves a long and complicated process. They remember implementing a blended contact center or a mobile payment system-projects that took as long as 18 months for development and rollout.
SailPoint Offers Identity Risk Assessment
News  |  7/24/2009  | 
SailPoint has announced that it is offering companies a 30-day identity risk assessment.
Wolters Kluwer Strengthens Anti-Fraud Solution
News  |  7/22/2009  | 
Wolters Kluwer Financial Services has strengthened its Wiz Sentri: Anti-Fraud platform, which aims to help U.S. and U.K. financial institutions prevent cash management-related crimes.
Mass. Privacy Rule Doesn't Translate to National Standard
News  |  7/22/2009  | 
To ensure privacy, banks must make someone responsible for information security, document processes and implement basic security technology.
Massachusetts Privacy Regulations Are Step in the Right Direction
News  |  7/22/2009  | 
Banks are well positioned to comply with the regulation due to preexisting measures currently in place for data protection and privacy.
Banks Spend in Wrong Privacy Areas
News  |  7/22/2009  | 
Information security depends on policies and procedures as much as technology.
New Encryption, Vendor Privacy Requirements Good for Banks
News  |  7/22/2009  | 
New Massachusetts Data Security Regulation adds encryption, vendor responsibility to the privacy mix.
Caixanova, IBM and INSA Set To Create Innovation Centre in Spain
News  |  7/21/2009  | 
The Spanish savings bank will partner with IBM and its affiliate INSA to establish an innovation center in Galicia.
TD Bank Improves Commercial Account Reports
News  |  7/21/2009  | 
TD Bank taps Online Banking Solutions' secure information exchange technology to move beyond fax delivery of its daily Sunrise Report commercial account statements.
The Perfect Skills-Set for Human Productivity: Multitasking With Single-Focus
News  |  7/20/2009  | 
You say that's a contradiction of terms do you? Well I'm here to tell you they can work with a strong dose of discipline from the deployers. Although it's a good thing that we can do lots of chores, it's also essential that we do each one with dedication. To bring this to a very down-to-earth level, let me use the example of chores around the home. There's always something to fix when you own a home (or two) that don't lend themselves to hiring Conrad Contractor. So when I'm up on a ladder clear
Making the Case for Business Intelligence Investments in Tough Economic Times
News  |  7/20/2009  | 
By Rajat Sharma, Onward Systems Many banks are in survival mode. Some will survive, some will merge or get bought, and some unfortunately will have to close business. What does a bank need in tough economic times? A bank needs cash flow, customer retention, to maintain profitability, and to find ways to increase revenue. How is all this possible in a survival mode? By investing in business intelligence is one promising way.
First International Bank of Israel Implements NICE Interaction Analytics
News  |  7/19/2009  | 
First International Bank of Israel implements NICE Interaction Analytics to address customer needs and turn contact center into revenue generator.
Timothy Watson Joins Whitney as Director of Corporate Treasury
News  |  7/16/2009  | 
Timothy Watson joins Whitney as Director of Corporate Treasury; former BankAtlantic executive's responsibilities include oversight of $2 billion investment securities portfolio.
IT Must Play a Key Role in Adapting to IFRS
News  |  7/16/2009  | 
By Ron Giammarco and Neil Bromberg, Ernst & Young In late November 2008, the Securities and Exchange Commission (SEC) released for comment its proposed roadmap of the steps required for conversion from US Generally Accepted Accounting Principles (US GAAP) to International Financial Reporting Standards (IFRS). Its r
Banks, Tech Providers Can Help Corporates See Benefits of Revamped Wire System
News  |  7/15/2009  | 
By Hank Farrar, The Clearing House, and Lauren Hargraves, Federal Reserve Bank of New York As the nation's major wire transfer systems gear up to offer significant new functionality, financial institutions and technology providers have a rare opportunity to deliver additional value to corporate clients-the power of information.
Flawed Consumer Protection, Part 2
News  |  7/15/2009  | 
I just wanted to respond to a comment to the blog I wrote yesterday on whether we need yet another regulatory agency in the financial services space.
Expanding the 'Patchwork' Regulatory System
News  |  7/14/2009  | 
Is the U.S. consumer financial services oversight system as flawed as Michael Barr, the Treasury's assistant secretary for financial institutions, told legislators?
Deluxe Selects ID Analytics for Compliance
News  |  7/14/2009  | 
Deluxe Corporation has added ID Analytics for Compliance to its existing suite of fraud protection services.
80% of U.S. Banks Are Low-Intensity Banks When it Comes to Using Technology
News  |  7/13/2009  | 
Definition: a low intensity bank uses its IT system or outsourced service to do accounting, just like the old ledger card machines used to do. So if you should go to the back room of such a bank after 7:00 PM, you'll see: (1) item processing to get all the transactions into the core system, (2) posting transactions and updating customer accounts, (3) transmission of EFT transactions to connect with the outside world, and (4) regulatory reporting to satisfy banking laws. At the end of that run (t
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