BankTech Site Feed

Rabobank Identifies US$10.2 Million in Savings

Mon, 08 Feb 2010 11:01:00 -0800

Within four months of rolling out improved transparency and reporting, Rabobank identifies and eliminates US$10.2 million in redundant IT services.

State Street to Pay Mortgage Securities Investors $300 Million

Mon, 08 Feb 2010 10:07:00 -0800

Firm settles with the SEC over charges it misled investors about subprime mortgage investments.

Misys Sees Boom in Islamic Banking

Mon, 08 Feb 2010 07:28:00 -0800

Global Islamic banking market is now worth over $500 billion, with 10-15% growth forecast for 2010.

Does the Goldman/AIG Mess Prove Volcker's Right?

Mon, 08 Feb 2010 06:31:12 -0800

Kudos to Gretchen Morgenson and Louise Story of the New York Times for their article in yesterday's paper casting light on one aspect of Goldman Sachs' role in the financial crisis.

How the Volcker Rule Would Affect Banks

Mon, 08 Feb 2010 06:01:00 -0800

Former Federal Reserve chair Paul Volcker himself says only the four or five largest U.S. banks are too large and would need to adjust to rules prohibiting proprietary trading.

China Says Hacker Training Site Closed

Mon, 08 Feb 2010 04:26:52 -0800

Chinese authorities shut down the country's largest hacker training Web site in central Hubei province, China Daily reported Monday.

Regulators Urge Small Business Lending

Fri, 05 Feb 2010 12:18:53 -0800

U.S. federal regulators Friday urged banks to increase lending to small businesses but to make sure such operations were creditworthy.

Honor Roll: This Week's Top Banking Blogs (Jan. 31-Feb. 6)

Fri, 05 Feb 2010 08:54:38 -0800

Our favorite banking technology-related blog posts from around the Web (January 31-February 6, 2010):

Mobile Giving Outpacing Mobile Payments

Fri, 05 Feb 2010 08:04:00 -0800

As indicated by the in flux of text message-based donations to Haiti earthquake relief foundations, mobile giving has taken off, but the mobile payments space as whole has a long way to go.

TGIF: iPad Commercial Parodies

Fri, 05 Feb 2010 07:17:32 -0800

Apple's launch of its iPad has inspired humorous videos all over the internet. We've flipped through several, skipped most of the ones comparing it to feminine products (and the Hitler one, since someone complained the last time we posted Hitler humor), and present to you what we think are the funniest iPad parodies out there this morning.

Data Was at the Heart of the Financial Crisis

Fri, 05 Feb 2010 05:01:00 -0800

Data quality and data modeling are critical to limiting risk, reports Michael Rodgers, Director of Business Development, Netik.

BofA Settles One Merrill Lynch Case

Thu, 04 Feb 2010 10:35:00 -0800

Bank of America settled one lawsuit and faced another as New York state said it would take bank executives to court over its purchase of Merrill Lynch.

NY AG Files Lawsuit Against Bank of America

Thu, 04 Feb 2010 10:12:17 -0800

The New York Attorney general's office announced late this morning that it has filed civil charges against Bank of America, relating to the Charlotte, N.C.-based financial institution's acquisition of Merrill Lynch. The NY AG says that the bank, former CEO Ken Lewis and former CFO Joseph L. Price, misled investors when acquiring the investment firm in late 2008.

Banks in Europe Maintain Lending Rates

Thu, 04 Feb 2010 09:07:31 -0800

The Bank of England and the European Central Bank in Frankfurt, Germany said in separate announcements they would keep lending rates unchanged.

IBM to Offer Data Quality, Redaction Tools

Thu, 04 Feb 2010 07:53:00 -0800

Software for monitoring data quality and for redacting sensitive information close to being rolled out.

17% of U.S. Adults Use Mobile Banking, Survey Finds

Thu, 04 Feb 2010 07:25:00 -0800

Mobile web and SMS are the most common mobile banking technologies, but app-based banking will grow rapidly over the next 12 months, according to Luth Research.

Sybase Acquires Complex Event Processing Vendor Aleri

Thu, 04 Feb 2010 06:43:00 -0800

Database vendor, which was already using Aleri's software under the hood of its RAP product, can now take product integration further.

Focus on Innovation: Umpqua Bank Views Innovation as a Core Value

Thu, 04 Feb 2010 05:15:00 -0800

In its 'Innovation Lab' and other high-tech branches, Umpqua Bank tests the latest technology to improve the banking experience and build stronger customer relationships.

Liberty Bank Upgrades Risk Reporting Platform

Wed, 03 Feb 2010 07:21:00 -0800

Purchasing Ambit BancWare software for asset-liability management, profitability and budgeting functions.

Only 33% of Americans Trust Banks, Survey Finds

Wed, 03 Feb 2010 07:03:00 -0800

Edelman financial services U.S. trust "barometer" finds consumers 25-34 most trusting.

Banks' Struggle to Achieve Document Security

Tue, 02 Feb 2010 14:18:14 -0800

By Adi Ruppin, Confidela Keeping electronic documents secure is a challenge in any industry, but banks have extra considerations. Checks, loan applications and monthly statements need to be accessible online. The same applies to sensitive internal bank documents that need to be shared among employees, branches, auditors and others. And industry regulations such as Sarbanes-Oxley require banks to maintain an audit trail of all these documents. There are three conditions in many banks that make document security particularly hard: phishing attacks, remote workers and customer communications.

Volcker Pushes to Rein in Banking

Tue, 02 Feb 2010 13:41:21 -0800

Presidential adviser Paul Volcker told members of the Senate Banking Committee the U.S. public did not believe in rescuing speculative banks.

Citibank Settles Free Checking Dispute

Tue, 02 Feb 2010 10:30:51 -0800

New York State said it reached a nationwide agreement with Citibank to keep more than one million checking accounts free through 2010.

Citi Survey Finds Woman More Comfortable Discussing Finances

Tue, 02 Feb 2010 07:10:00 -0800

Almost all (91%) affuent women surveyed are talking about finances with family members.

Obama to Propose $30 Billion Small Business Loan Plan

Tue, 02 Feb 2010 04:38:53 -0800

U.S. President Barack Obama plans to announce Tuesday a proposal that would allocate $30 billion to community banks to provide loans to small businesses.

Banks Get Lots of Hidden Value From A Core Conversion

Mon, 01 Feb 2010 15:05:52 -0800

This next statement may sound like professional suicide, but I have made it numerous times without regret. "I don't know how to run a bank. I rely on my clients for that."

Paulson Says Bank Pay is 'Out of Whack'

Mon, 01 Feb 2010 13:20:47 -0800

Former U.S. Treasury Secretary Henry Paulson Jr. said he thought bankers were overpaid even before the financial crisis gave the issue prominence.

Fiserv Launches New IAT Watch List Filtering Solution

Mon, 01 Feb 2010 07:41:00 -0800

Monitoring tool helps financial institutions comply with new NACHA IAT rules.

Volcker Explains His Bank Reform Rules

Mon, 01 Feb 2010 07:29:56 -0800

Paul Volcker, a former chairman of the Federal Reserve and chairman of the president�s Economic Recovery Advisory Board, and the person credited with President Obama's recent "Volcker Rule" preventing banks from proprietary trading and investing in hedge funds and private equity, detailed his thoughts on bank reform on the New York Times' Op-Ed page yesterday.

Bias May Hamper Financial Crisis Inquiry, Groups Say

Mon, 01 Feb 2010 06:30:57 -0800

Three members of the Financial Crisis Inquiry Commission in Washington have done legal work that may bias their judgment, business groups said.

Actor Rip Torn Accused of Breaking into Bank

Sun, 31 Jan 2010 13:10:29 -0800

Connecticut state police allege actor Elmore "Rip" Torn was intoxicated when he broke into a bank in Salisbury carrying a loaded revolver.

Obama Creates Financial Literacy Council

Fri, 29 Jan 2010 14:26:14 -0800

U.S. President Barack Obama signed an executive order Friday creating an Advisory Council on Financial Capacity to help improve Americans' financial literacy.

RBC to Offer Prepaid Contactless Card at Olympics

Fri, 29 Jan 2010 06:50:00 -0800

First contactless Visa card in Canada not linked to a credit card account, to be used at the Vancouver 2010 Olympic and Paralympic Winter Games.

TransUnion Says Its Income Models Comply with Credit Card Act

Fri, 29 Jan 2010 06:19:00 -0800

Credit bureau offers an income estimator and a debt-to-income estimator that it says meets the Fed's new requirements.

Deutsche Bank CEO Calls for Global Banking Rules at Davos

Fri, 29 Jan 2010 06:11:36 -0800

Josef Ackerman, CEO of Deutsche Bank, told CNBC's Maria Bartiromo his views on recent bank regulation proposals at the World Economic Forum in Davos yesterday. "We're in a global market, we need global rules," Ackerman said, suggesting that President Obama's recent proposal to separate banks from the capital markets might not work if only one country adopts it. Ackerman supports the Basel II capital allocation requirements, but feels the Volcker rule could reduce liquidity and efficiency in the global markets.

TGIF: Daily Show on the Obama vs. Bankers Showdown

Fri, 29 Jan 2010 03:44:03 -0800

Obama wants to shrink banks, but bankers can take dividends hostage, Jon Stewart points out. The Daily Show With Jon StewartMon - Thurs 11p / 10cObama Takes On Bankerswww.thedailyshow.comDaily Show Full EpisodesPolitical HumorHealth Care Crisis

Honor Roll: This Week's Top Banking Blogs (Jan. 24-30)

Thu, 28 Jan 2010 21:34:48 -0800

Our favorite banking technology-related blog posts from around the Web (January 24-30, 2010):

In India, Fewer Banks Are Boy's Clubs

Thu, 28 Jan 2010 12:52:26 -0800

Less beer and golf and a stronger focus on merits give Indian women bankers opportunities other cultures ignore, an HSBC bank director in India said.

Mutual of Omaha Bank Upgrades Retail Banking Systems

Thu, 28 Jan 2010 07:20:00 -0800

Implementing a slew of Fiserv software across the bank, including account processing, online banking and bill payment.

Russia Bank Deploys Flash-Based Self-Service Terminals

Thu, 28 Jan 2010 07:02:00 -0800

At the "branch of the future" Sberbank opened last month in Moscow, customers interact with contact center reps via self-service terminals using software from BPC.

Heartland Shares Lessons Learned from Its Data Breach

Thu, 28 Jan 2010 05:42:28 -0800

Heartland Payment Systems has gone from data breach victim to card data security expert. Although the card payment processor suffered a data breach in late 2008, lost 50 percent of its market cap shortly thereafter, and spent more than $32 million in legal fees, forensic costs, reserves for potential card brand fines and other related settlement costs, it has since designed and implemented an end-to-end encryption system that puts it ahead of many of its peers in terms of data security. Details about the breach and Heartland's data security efforts since then are described in a paper the Federal Reserve Bank of Philadelphia released this week on lessons learned from the Heartland data breach. (At Bank Systems & Technology's Executive Summit last year, Kris Herrin, CTO of Heartland Payment Systems, did a video interview about his company's security efforts that can be viewed here.)

CRM in Banking 10 Years Later: Was It a Crusade or a Parade?

Wed, 27 Jan 2010 14:17:51 -0800

One of the benefits of tenure as an independent BankTech analyst is the opportunity to look back and use some 20/20 hindsight to evaluate earlier analysis and forecasts.

Frank in Davos Says U.S. Bank Reform is Only Months Away

Wed, 27 Jan 2010 11:31:20 -0800

Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said a financial reform bill could be signed into U.S. law within months.

USAA Announces Mobile RDC App for Android Phones

Wed, 27 Jan 2010 07:40:00 -0800

USAA has launched a remote deposit capture (RDC) application for use with Android-based mobile devices.

Chinese Bank Deploys IT Service Management Software

Wed, 27 Jan 2010 07:40:00 -0800

Bank's Shanghai data center said to be experiencing higher IT service levels.

Deutsche Bank to Base Core Banking System on SAP

Wed, 27 Jan 2010 07:05:00 -0800

German bank to use SAP for partner data, payments, account management and savings applications.

IWeek: Apple Tablet Should Be Well-Received By Businesses

Wed, 27 Jan 2010 06:29:02 -0800

Apple's new Kindle-like tablet should be suitable for executives such as bankers, according to Fritz Nelson, Editorial Director for InformationWeek (a sibling publication to Bank Systems & Technology).

Beware of Unintended Consequences to the Volcker Rule

Tue, 26 Jan 2010 14:44:34 -0800

Although President Obama's "Volcker Rule" � his proposal that banks forego proprietary trading, investment or ownership in hedge funds and private equity firms and not be allowed to become too big to fail � could take three to five years to move through Congress and become implemented, if some version of it does get passed, it could have a profound impact on banks, said Matt Cohn, partner and leader of Capco's banking group, in an interview this week.

Bank of England's King Favors Radical Reforms

Tue, 26 Jan 2010 10:23:13 -0800

Bank of England Gov. Mervyn King said Tuesday he does not favor assessing a so-called Tobin Tax on bank transactions, but he does back some of President Obama's recent proposals.

Creative Banks Could Harness Location-Aware Twitter

Tue, 26 Jan 2010 10:02:43 -0800

Now that Twitter has unveiled TwitterLocal � an Adobe Air application through which one can perform location-aware Twitter searches (for instance, you could follow anyone tweeting in the Los Angeles area, provided they have opted in to allow their location to be known) � it could open social media possibilities for retail banks. Perhaps a bank could see who was searching for ATMs in a particular neighborhood and use that data to install a new machine there. Or upon seeing that hundreds of Twitterers have recently purchased homes in an area, a bank might schedule a seminar on home equity loans. The opportunities seem endless.

ING Direct's Jim Kelly to Host Chicago "Tweetup" for Savings Customers

Tue, 26 Jan 2010 08:31:00 -0800

Followers of the banks' savings-oriented Twitter feed invited to meet the COO face to face.

ClairMail Expands Mobile Web Support to Android and Blackberry Devices

Tue, 26 Jan 2010 06:52:00 -0800

Mobile banking and payments solutions provider aims to further mobile banking adoption among all smartphone users.

Online Banking Customers Expect Fast Website Performance, Survey Finds

Tue, 26 Jan 2010 06:15:00 -0800

57% expect bank websites to load in two seconds or less.

Mortgage Market Poised for A Big Test

Mon, 25 Jan 2010 09:14:08 -0800

The U.S. government's plan to wind down help for the troubled housing market is a big stakes gamble whose time has come, a Treasury Department official said.

Swiss Bank Upgrades Private Banking Platform

Mon, 25 Jan 2010 07:33:00 -0800

Finter Bank implemented SunGard's Ambit in seven months.

China Rejects Cyberattack Accusation

Mon, 25 Jan 2010 05:28:58 -0800

The Chinese government, rejecting the accusation it was involved in cyberattacks, said it will increase its cooperation to fight Internet crimes.

Gibbs: Bernanke Has Votes for 2nd term

Sun, 24 Jan 2010 09:44:10 -0800

Federal Reserve Chairman Ben Bernanke will be confirmed by the U.S. Senate for a second term, President Barack Obama's spokesman predicted.

House Eyes Abolishing Fannie, Freddie

Sat, 23 Jan 2010 07:27:37 -0800

A House panel is preparing to recommend that troubled quasi-public U.S. mortgage finance firms Fannie Mae and Freddie Mac be abolished, its chairman says.

People in Their 30s Savviest Online Banking Users, Survey Finds

Fri, 22 Jan 2010 07:12:00 -0800

Wells Fargo research finds that people in their 20s do not actually rule the web.

Treasury to Tweak Loan Program

Fri, 22 Jan 2010 06:16:35 -0800

A U.S. Treasury Department official said new guidelines for the Make Homes Affordable program were in the pipeline, and would be ready by the end of January.

Clinton Warns Hackers; China Warns Clinton

Fri, 22 Jan 2010 04:25:18 -0800

The Chinese Foreign Ministry answered a U.S. warning against cyberattacks with a warning to stop using Internet freedom to make accusations against China.

Goldman to Pay Staff "Restrained" $16.2 Billion

Thu, 21 Jan 2010 08:49:06 -0800

New York financial firm Goldman Sachs says it earned $4.95 billion September through December and will set aside $16.2 billion for staff for the year.

China Curbs Bank Lending

Wed, 20 Jan 2010 21:49:25 -0800

Bank lending in China will be about $1.1 trillion in 2010, down from $1.39 trillion in 2009 because of concerns about asset bubbles, its bank regulator said.

Report: Obama to Call for New Bank Limits

Wed, 20 Jan 2010 21:29:39 -0800

U.S. President Barack Obama is set to propose restoring restrictions on risk-taking by commercial banks, a senior White House official said.

Moody's Analytics Acquires Commercial Mortgage Modeling Software

Wed, 20 Jan 2010 11:20:00 -0800

Plans further integration of modeling tool with its other risk management products.

Omaha Bank Launches Person-to-Person Payments

Wed, 20 Jan 2010 07:46:00 -0800

First National Bank of Omaha one of the first banks to offer customers the ability to send payments to others directly from their cell phones.

BofA Repays TARP, Shareholders Lose

Wed, 20 Jan 2010 06:47:00 -0800

Lending is up and the bank's purchase of Merrill Lynch appears to be more of an asset than a liability, based on the bank's fourth quarter results.

Microsoft Names Susan Hauser to Lead Worldwide Industry Sectors and Global Accounts

Tue, 19 Jan 2010 06:48:00 -0800

Hauser to lead Worldwide Financial Services, Distribution and Services, Manufacturing and Resources, and the Global Accounts Organization.

Bank Robberies Down Despite Recession

Tue, 19 Jan 2010 06:37:39 -0800

The recession has not spurred more U.S. bank robberies and such crimes plunged to their lowest levels in at least 10 years, FBI crime statistics indicate.

Credit Reporting Error Lists Man As Dead

Mon, 18 Jan 2010 11:22:01 -0800

A Florida man said he has been financially crippled by a credit reporting error that simply read: "Consumer deceased."

Bank Data Sharing Accord in Jeopardy

Mon, 18 Jan 2010 06:42:56 -0800

An interim deal allowing U.S. authorities to access data on European bank transactions requires adjustments, a European parliamentary group said.

Mortgage Modification Numbers Still Small

Sat, 16 Jan 2010 06:11:57 -0800

Only a few U.S. homeowners enrolled in a federal foreclosure prevention program have achieved permanent loan modifications, statistics indicate.

Obama: Fees Won't 'Punish' Banks

Sat, 16 Jan 2010 03:01:00 -0800

President Barack Obama said Saturday a fee he proposed on major U.S. financial firms to recoup bailout funds is not intended to punish the financial industry.

Serial Name Changer Sentenced in Check Scam

Fri, 15 Jan 2010 15:07:01 -0800

A federal judge Friday handed a 27-month prison term to a Tacoma, Wash., man who legally changed his name a dozen times as part of a bank fraud scheme.

Two Colorado Banks Donate 1% of All Mobile Payments to Haiti

Fri, 15 Jan 2010 12:43:00 -0800

As customers of The State Bank and Park State Bank & Trust make payments by phone, the banks will donate 1% of the value of each transaction to the The Salvation Army in Haiti.

India Bank to Deploy IBM's Data Center Pods

Fri, 15 Jan 2010 06:55:00 -0800

Karad Urban Co-operative Bank to outsource most data center functions to Big Blue.

JPMorgan Says Pay and Profits Rose

Fri, 15 Jan 2010 06:49:45 -0800

U.S. financial giant JPMorgan Chase said Friday it broke its revenue record in 2009, earned $11.7 billion in profits and would bump bonus checks 18 percent.

FDIC's Bair: 'Shadow Banks' Need Regulation

Thu, 14 Jan 2010 22:57:07 -0800

Regulators and the market failed to control the <Q>shadow banking system,</Q> Sheila Bair, head of the Federal Deposit Insurance Corp., said in Washington.

Former Goldman CTO Dubno to Join BofA

Thu, 14 Jan 2010 11:02:00 -0800

Michael Dubno will head global markets and research technology at the bank starting Tuesday.

70% of Americans Think It's Harder To Get Rich Now Than It Used To Be

Thu, 14 Jan 2010 09:13:00 -0800

Bankrate poll confirms that most Americans feel poor, are saving more and spending less.

Standard Chartered Bank Chooses New Transfer Agent Solution

Thu, 14 Jan 2010 09:02:00 -0800

Standard Chartered Bank (SCB) has selected Vitech Systems Group's Equitrak software as its new transfer agency solution.

Huntington Bank Names New Directors of Payments/Channels and Treasury Management

Thu, 14 Jan 2010 07:56:00 -0800

Mark R. Sheehan and Douglas G. Hartsema, both former JPMorgan Chase executives, take on new roles intended to enhance Huntington's business and retail banking services.

NFC Will Enable Phones to Replace Cards in 2011, Researchers Say

Thu, 14 Jan 2010 07:17:00 -0800

Near-field communication is the technology that will allow phones to be widely used for payments; banks and mobile operators will compete for this new mobile payments business, according to SJB Research.

Obama to Propose Fee to Recoup TARP Funds

Thu, 14 Jan 2010 04:22:00 -0800

U.S. President Obama plans to propose a hike in taxes paid by financial institutions that would help recoup the cost of bailing them out, an official said.

Swiss Private Bank Deploys Outsourced Core Banking Solution

Wed, 13 Jan 2010 09:13:00 -0800

Private banking arm of National Bank of Abu Dhabi, in Geneva, opts for standardized banking software from Avaloq hosted by B-Source.

ACH Federal Introduces Processing and Merchant Services Suite

Wed, 13 Jan 2010 07:52:00 -0800

ACH Federal has formally introduced a suite of automated clearinghouse (ACH) processing and merchant services solutions.

Card Fraud Costs U.S. Payment Providers $8.6 Billion Per Year

Wed, 13 Jan 2010 07:15:00 -0800

The first line of defense is encryption, according to an Aite Group report released today.

Google Hacked, Reconsiders China Presence

Tue, 12 Jan 2010 16:33:46 -0800

Google Inc. Tuesday said it <Q>may well</Q> shut down its operations in China because of a computer network attack on its e-mail service.

Moynihan Announces Revised BofA Management Team

Tue, 12 Jan 2010 14:19:00 -0800

Alphin, Bessant, Darnell, Desoer, Krawcheck all in final lineup.

FDIC Seeks to Adjust Its Bank Fees Based on Pay Programs

Tue, 12 Jan 2010 09:37:00 -0800

Compensation plans are a factor in 35% of bank failures, the agency says. It's thinking of penalizing banks that don't consider risk when rewarding for performance.

Finnish Bank Invests in Business Intelligence Software

Tue, 12 Jan 2010 08:38:00 -0800

Hopes SAS analytics software will help it improve customer service and risk management.

Gibraltar Private Bank Outsourcing IT

Tue, 12 Jan 2010 07:39:00 -0800

Leaving IT management and support to Compuquip Technologies.

Peoples State Bank Upgrades Core Banking System

Tue, 12 Jan 2010 07:18:00 -0800

Using hosted core banking software and implementing a slew of other Jack Henry banking applications.

Observers Say Obama's Proposed Bank Fee Wouldn't Work, Won't Happen

Tue, 12 Jan 2010 06:46:00 -0800

Idea of charging already-subsidized banks with fees they could simply pass on to customers doesn't seem to be catching on.

IDC Predicts Number of Banks Will Shrink 4% in 2010

Mon, 11 Jan 2010 14:29:00 -0800

A focus on risk and regulation will drive many surviving banks to invest in data management projects to create a single version of truth, the analysts say.

Citigroup Names Head of Consumer Banking

Mon, 11 Jan 2010 13:20:01 -0800

U.S. banking corporation Citigroup Monday appointed Manuel Medina-Mora head of consumer banking for the Americas.

Misys Debuts Online Banking Portal

Mon, 11 Jan 2010 08:30:00 -0800

Allows banks to let their customers check balances, pay bills, transfer funds, and view statements online.

Devon Bank Equips "Green" Branch with Imaging

Mon, 11 Jan 2010 07:24:00 -0800

Imaging-assisted app for tellers said to reduce processing and courier costs.

Banks Prepare to Hand Out Big Bonuses

Sun, 10 Jan 2010 09:31:11 -0800

Resurgent U.S. banks preparing to hand out billions of dollars in bonuses are likely to draw harsh criticism, analysts say.

Barclaycard Launches Budget-Aware Contactless Credit Card

Fri, 08 Jan 2010 08:55:00 -0800

Cardholders set up text messages to notify them when they're spending too much.

Celent Forecasts $3.7 Billion Spend on Wealth Management IT in 2010

Fri, 08 Jan 2010 04:37:00 -0800

Analyst firm projects wealth management IT budgets will increase 5% over 2009.

Citi First U.S. Bank to Launch Mobile Banking in Thailand

Thu, 07 Jan 2010 09:12:00 -0800

Banking giant to allow Thai people to bank via handheld device in English or Thai.

SEI to Add Loan Automation, Data Feeds to Outsourcing Services

Thu, 07 Jan 2010 08:19:00 -0800

Will use Advent's Geneva software and Virtus Partners' independent data feeds to provide straight-through processing of loans.

Oracle Financial Services Software Introduces Oracle FLEXCUBE Universal Banking Release 11.0

Thu, 07 Jan 2010 08:04:00 -0800

Oracle FLEXCUBE Integration Lab launched with new release to demonstrate how to Integrate with existing web services.

RIM Device To Allow Users to Display PowerPoints from Their BlackBerrys

Wed, 06 Jan 2010 14:00:00 -0800

BlackBerry Presenter, a small USB device, will retail for $199.

ATM Network Upgrade Helps SunTrust Keep Up With Growing Volumes

Wed, 06 Jan 2010 08:24:00 -0800

By upgrading servers and moving ATM transaction traffic to an existing TCP/IP network, the bank says it has simplified and increased throughput for its ATM network.

Calyon Deploys Misys Supply Chain Portal

Wed, 06 Jan 2010 07:19:00 -0800

Portal to allow the bank to offer purchase order initiation, invoice presentation and automated payments on one platform.

Bug That Crippled 30 Million German Debit, Credit Cards Mostly Fixed, Gemalto Says

Wed, 06 Jan 2010 07:06:00 -0800

Although millions of newer microchip-embedded cards have failed to comprehend the year 2010, many ATMs have been adjusted to fix the problem, card company says.

IT Salaries Leveling Off, Survey Finds

Tue, 05 Jan 2010 06:55:00 -0800

Salaries are flat but bonuses are down, Janco's latest benchmarks show.

As Small Business Online Banking Fraud Grows, So Do Efforts to Curb It

Mon, 04 Jan 2010 14:28:00 -0800

Password controls, stronger authentication and customer PC security scans among the measures that can help.

10 in 2010: Banking Trends for the New Year

Mon, 04 Jan 2010 08:02:01 -0800

BS&T's editors offer some predictions about the coming year's bank technology news makers.

Consumer Trust in Banks Declined in Past Six Months, Bank Execs Say

Mon, 04 Jan 2010 07:30:00 -0800

Innovation seen as key to boosting trust, but only one of four banks has laid out strategy.

Washington's Regulatory Agenda Will Shape Banks' Risk IT Strategies

Tue, 29 Dec 2009 05:15:00 -0800

Pending legislation in Congress will significantly affect banks' IT shops, and risk management will be front and center, reports Deloitte & Touche's Henry Ristuccia.

Banks Planning Flexible IT Budgets for 2010

Mon, 28 Dec 2009 05:00:00 -0800

The continuing uncertainty about financial services regulation will complicate 2010 IT budgeting by forcing banks to try to balance caution with innovation and efficiency with flexibility.

Heartland To Settle Class Actions Over Cyber Breach

Tue, 22 Dec 2009 08:55:00 -0800

The payment processor agreed to submit the report of an independent expert on its plans to improve the security of its computer system since the announcement of the cyber breach on January 20, 2009.

Banks To Increase Focus And Budgets On Online Banking in 2010

Mon, 21 Dec 2009 08:17:00 -0800

Some banks will pinpoint online sales and marketing, while others will focus on online service or improving the customer experience, according to a new Aite Group report.

Fraud: Social Media Heightens New Threats

Mon, 21 Dec 2009 06:10:00 -0800

As fraudsters increasingly seek to exploit weaknesses in consumers' defenses through social engineering schemes rather than hack vulnerabilities in banks' security systems, the need for enterprisewide solutions to detect fraud across channels is greater than ever.

Mickey Goldwasser Joins Continuity Engine as SVP of Marketing

Sun, 20 Dec 2009 19:26:00 -0800

Financial industry veteran brings 25 years of experience to compliance solutions provider.

Bank of America Elects New CEO

Thu, 17 Dec 2009 09:49:00 -0800

Bank of American has named Brian T. Moynihan as its chief executive officer (CEO) and president.

Macatawa Bank Selects Fiserv's Premier Bank Platform

Thu, 17 Dec 2009 08:16:00 -0800

Fiserv said Premier's service-oriented architecture and seamless integration make it possible for Macatawa Bank to rapidly deploy new solutions to meet market, regulatory and operational challenges.

IBM to Acquire Lombardi

Wed, 16 Dec 2009 07:51:00 -0800

IBM has entered a definitive agreement to acquire business process management (BPM) software and services firm Lombardi.

Have Cell Phone, Need Bank: Nokia Makes Mobile Play for Unbanked

Wed, 16 Dec 2009 06:12:01 -0800

Cell phone giant Nokia hopes to provide basic financial services to the unbanked in emerging markets via its Nokia Money mobile service.

J.P. Morgan Continues Treasury Services, Escrow Expansions

Tue, 15 Dec 2009 09:17:00 -0800

J.P. Morgan has expanded upon its treasury services in Canada and introduced its escrow service into the South Korea market.

SunTrust Introduces Daily Budgeting Application for Facebook

Tue, 15 Dec 2009 07:41:00 -0800

Daily Dollar Facebook application is most recent online component of SunTrust's Live Solid initiative on Facebook.

BB&T Selects NICE SmartCenter to Enhance Customer Service

Mon, 14 Dec 2009 08:47:00 -0800

NICE SmartCenter is a suite of pre-packaged business solutions that address specific business issues, powered by functional components spanning call recording, quality management, multi-channel interaction analytics, workforce management and performance management.

Washington Trust Partners with uMonitor to Expand Online Services

Mon, 14 Dec 2009 06:28:00 -0800

Rhode Island bank to deploy UTransfer online money transfer service.

SWIFT's Restructuring in North America Includes Layoffs

Fri, 11 Dec 2009 08:23:00 -0800

SWIFT's Commercial group reduces staff as part of plan to cut $132 million in global operating expenses.

Microsoft and Temenos Partner on Core Banking

Thu, 10 Dec 2009 09:32:00 -0800

Temenos Group AG and Microsoft have announced an alliance to deliver core banking solutions.

Panini Check Scanners Integrate With Intuit Check Solution for QuickBooks

Wed, 09 Dec 2009 08:47:00 -0800

The check scanner allows small businesses to make payments from their office.

Permata Bank Selects Hypercom's Optimum for Mini-ATM Roll Out in Indonesia

Tue, 08 Dec 2009 07:28:00 -0800

Bank's customers will be able to complete more than 100 types of transactions.

Memento's New Check Fraud Prevention Solution Aims to Reduce Analyst and Investigator Workloads

Mon, 07 Dec 2009 12:58:00 -0800

Memento Security"Check Fraud produces fewer fraud alerts with no reduction in detection rates, vendor says.

SAP Launches Banking Suite

Mon, 07 Dec 2009 10:08:00 -0800

SAP has launched SAP banking service 7.0, a set of innovations to its industry-specific banking software suite.

Microsoft Names Joe Pagano Worldwide Managing Director for Banking and Capital Markets

Mon, 07 Dec 2009 08:43:00 -0800

Microsoft veteran most recently managed sales team for strategic Global Financial Services accounts.

Great Southern Bank Selects Image Processing Platform

Fri, 04 Dec 2009 09:44:00 -0800

Great Southern Bank has selected the Summit.NET image processing platform for its item processing services.

First National Bank of Omaha Expands RDC Customer Base by 50 Percent

Fri, 04 Dec 2009 05:20:00 -0800

First National Bank of Omaha's second generation, Web-enabled remote deposit capture solution helps the bank expand its RDC customer base by 50 percent.

Alliant Credit Union Selects Geezeo for PFM

Wed, 02 Dec 2009 12:33:00 -0800

Credit union will integrate solution with online banking offering; aims to increase retention, attract new generation of members.

Still Early Enough to Seize Opportunities Around Prepaid Debit for Underbanked

Wed, 02 Dec 2009 08:01:00 -0800

Aite Group study shows there is still a good deal to be accomplished in pushing adoption of prepaid debit cards to underbanked consumers.

TriNovus Launches Stress Testing Solution

Wed, 02 Dec 2009 07:48:00 -0800

TriNovus developed BankRisk as a tool for banks to utilize partly in response to the federal banking regulators' concerns about community banks' increased participation in commercial real-estate lending.

What ING's Insurance Divestment Means to the Bancassurance Model

Wed, 02 Dec 2009 07:36:00 -0800

With ING forced to divest its insurance operations, the long-term viability of the bancassurance model has come under scrutiny.

Consumers Are Ready for Mobile Wallet

Tue, 01 Dec 2009 07:21:00 -0800

Firethorn says a study it conducted illustrates that U.S. consumers are prepared to dive further into mobile financial services, beyond m-banking.

Abu Dhabi Commercial Bank Picks Cyveillance for Security

Tue, 01 Dec 2009 07:12:00 -0800

Cyveillance's enterprise solutions will help the bank protect customer information from internal and external threats.

Fiserv Signs Two Banks for EnAct Solution

Mon, 30 Nov 2009 06:40:00 -0800

Commerce Bancshares and Broadway Bank will use the sales management software to increase walletshare.

This Holiday Shopping Season Will See More Debit, Less Credit

Mon, 23 Nov 2009 12:00:00 -0800

Accenture Holiday Shopping Survey notes that thrifty Americans are opting to use cash/debit in their spending and that banks would do well to be mindful of these changing payment preferences.

J.P. Morgan Stepping Up Fight Against Corporate Payments Fraud

Fri, 20 Nov 2009 13:58:00 -0800

The bank issued a white paper that looks at the growing area of corporate payments fraud and suggests best practices for safeguarding accounts.

GAO Report Offers Mixed Bag of Commentary on Interchange Fees

Fri, 20 Nov 2009 09:00:00 -0800

The report does note for sure that credit card fees have been driven up and that consumers could be paying for this.

Bank Enforcement Cease and Desist Actions Quickly Rising

Fri, 20 Nov 2009 08:40:00 -0800

The financial crisis is causing a dramatic rise in the number of cease and desist orders by bank regulators and should be a warning sign for bank managers and directors, according to analysis by the Regulatory Fundamentals Group.

Tesco Bank Announces Fiserv as Core Banking Provider

Fri, 20 Nov 2009 06:04:00 -0800

The UK's supermarket bank will use the Fiserv Signature bank platform to form the foundation of its account and transaction operations.

SWIFT's New MT 202 COV Messaging Standard Necessary, but Could Pose Challenges

Thu, 19 Nov 2009 10:42:00 -0800

Ernst & Young's Steven Beattie says although releasing the new payment messaging protocol will help increase AML efforts and transparency, banks could be faced with problems like an increased investigations burden.

BNP Paribas, Oberthur Team Up for NFC

Thu, 19 Nov 2009 08:02:00 -0800

The bank will provide residents of Nice with NFC payment services enabled by Oberthur's technology.

Amex Acquisition of Revolution Money Marks New Fight for Remittance Space

Thu, 19 Nov 2009 07:43:00 -0800

American Express will buy P2P payments company Revolution Money to expand its reach and make a place in a growing market.

Al Hilal Bank Selects Norkom for Compliance, AML

Tue, 17 Nov 2009 12:21:00 -0800

The Abu Dhabi-based financial institution will use Norkom's AML and watch list management solutions.

Obama Orders Creation of Financial Fraud Task Force

Tue, 17 Nov 2009 11:59:00 -0800

The Financial Fraud Enforcement Task Force is an interagency initiative that will rely on the coordinated efforts of each member of prevent another financial crisis.

IT Execs Fear Retribution From Former Employees

Tue, 17 Nov 2009 06:30:00 -0800

Ernst & Young's latest information security survey shows that senior IT executives feel their systems will need to be better monitored against attack from ex-employees.

Swedbank to Deploy Aleri Liquidity Risk Manager

Mon, 16 Nov 2009 12:37:00 -0800

Solution will help Swedbank Markets unit manage risk and meet FSA regulations.

ClairMail Extends Reach With Misys Deal

Mon, 16 Nov 2009 07:13:00 -0800

The two companies inked a partnership arrangement that will allow Misys to integrate ClairMail's m-banking products with its own offerings to clients worldwide.

BAFT, IFSA Announce Plan to Merge

Mon, 16 Nov 2009 06:49:00 -0800

The two largest trade groups for global transaction banking say that by becoming one, they can better service the GTS community.

Allin Leverages Technology to Support Wealth Management Growth at City National Bank

Mon, 16 Nov 2009 06:10:00 -0800

Logan Allin, named SVP and manager of business and operations strategy for City National Bank's wealth management division in August, discusses his technology goals and responsibilities.

Going Public With Core Systems Conversion Problems

Fri, 13 Nov 2009 07:01:00 -0800

When TD Bank issued a public apology for systems and service glitches that occurred when the institution undertook conversion to a single core system following its merger with Commerce Bank, it underscored why core systems upgrades and replacements don't happen very often.

Experian Introduces Products That Help Lenders Determine Consumers' "Ability to Pay"

Thu, 12 Nov 2009 14:19:00 -0800

Solutions are intended enable lenders to assess a consumer's income in alignment with new lending requirements.

CredStar Offers ENCORE Consumer Reporting

Thu, 12 Nov 2009 13:28:00 -0800

CredStar has become a reseller of the ENCORE report consumer reporting solution for credit unions and mortgage lenders.

Wolters Kluwer Enhances Anti-Fraud Functionality

Thu, 12 Nov 2009 08:00:00 -0800

Wolters Kluwer Financial Services has enhanced its anti-fraud solution's investigative services functionality for financial institutions based in the U.S. and U.K.

Hackers Exploit Prepaid Payroll Cards

Thu, 12 Nov 2009 06:54:00 -0800

Cyber criminals accused of breaking into RBS WorldPay's systems and exploiting payroll cards may indicate a new trend.

Chugoku Bank Signs 9 Year Outsourcing Deal with IBM

Wed, 11 Nov 2009 08:48:00 -0800

Chugoku Bank, a major Japanese regional bank, has signed a nine-year outsourcing agreement with IBM.

Voice Commerce Receives Payment Institution License

Wed, 11 Nov 2009 06:51:00 -0800

Voice Commerce becomes one of the first nonbank companies to receive authorization to operating in the EU under the Payment Services Directive.

Banking Groups React to Sen. Dodd's Draft Regulatory Legislation With a Big 'No'

Wed, 11 Nov 2009 06:08:00 -0800

Although organizations approve of the Senate's efforts, they say it goes too far in undermining those aspects of financial services that actually work.

Anne Noonan Named Chief Systemic Risk Officer at DTCC

Mon, 09 Nov 2009 08:25:00 -0800

Noonan will work closely with DTCC subsidiaries' direct regulators and with regulators globally on systemic risk issues.