Banks - and Their Core Technology Systems - Are in Survival Mode

Bank Systems & Technology April/May 2009

May 6, 2009

Today's new economic realities demand that financial services firms enhance their core functionality around risk, regulation and customer retention. In this month's cover story, Bank Systems & Technology examines how many banks are phasing in core systems capabilities to meet these demands while coping with strained resources from a continuing global financial crisis.

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This and other bank technology-related coverage from the new April/May 2009 issue of Bank Systems & Technology now is available online at


  Financial Services CEOs in the Crosshairs: Are All the Attacks Justified?

Edward Liddy, former CEO of Allstate Insurance, came out of retirement to run troubled AIG. Should he be criticized for the company's failings, or praised for an act of public service?

  IN DEPTH: Core Systems Transformation

  Banks -- and Their Core Systems -- in Survival Mode

Amid an economic downturn that is only beginning to show signs of a bottom, banks are reexamining their core systems, with a priority on phasing in capabilities to cope with new realities around risk, regulation and customer retention.

  Crisis Presents Banks With Opportunity to Reexamine Core Systems

Now is the time for financial institutions to take stock of their information technology and use the crisis as an opportunity to optimize their core systems.

  Case Study: HSBC Mexico Upgrades Its Core Banking Systems in One Big Bang

HSBC Mexico decided to upgrade its core banking applications in one shot, tapping CSC's automated upgrade program to govern the implementation.


  Irish Banks Reeling From Bursting of Property Bubble

Declining property values have sent Ireland's banking industry -- and economy -- into a downward spiral. But bank consolidation and automation efforts may help the small island's financial technology sector regain its footing.


  Bank Upheaval Tarnishes Ireland's Glow

Global firms reconsider Irish operations amid financial crisis, and Ireland struggles to hold on to the multinational banks and IT firms that have long buoyed its economy.


  Combined FIS/Metavante to Be a Game Changer

The new Fidelity National Information Services will trigger a new wave of vendor consolidation as bank tech service providers scramble to deal with a new dynamic in the market.

  Internet Banks Poised to Prosper Amid Crisis

As consumers seek the best rates and banks look to cut costs, direct banks will enjoy a surge in deposits, and branch traffic will stagnate, TowerGroup predicts.

  U.S. Treasury Adopts Open Source Strategy to Drive Electronic Tax Payments

The Department of the Treasury's Financial Management Service is publishing the full specification for a free, real-time Web services interface for its Electronic Federal Tax Payment System.

  Vidoop Authentication Solution Addresses Top Online Security Threat

An image recognition and one-time PIN combo blocks keylogging malware hacks, a security threat that rivals phishing, according to Vidoop.


  SWIFT Slashing Costs to Adapt to New Economic Reality

SWIFT looks to cut costs and strengthen infrastructure with distributed architecture.


  Customer-facing Tech and Analytics Will Help Banks Through Recession

Bank spending will quiet down, says Financial Insights Aaron McPherson, but targeting technology focused on the customer and risk will be money well spent.


  Centralized Tech Planning Key to Managing TARP

Banks need to be careful to avoid knee-jerk reactions as they implement technologies to comply with the Troubled Asset Relief Program.


Remote Deposit Capture: The consumer market for remote deposit capture is only beginning to be tapped. Who are the target demographic, and will they see its value?

  Customers Welcome RDC's Convenience

  Sherry Sitton, EVP, First Command Bank

  Consumer RDC Is a Win-Win for Banks and Customers

  Bob Meara, Senior Analyst, Celent
  Consumer RDC Appeals to Small and Home Offices

  Paul Danola, President, Image Solutions Division, Metavante

  RDC a Natural Extension of Online Banking

  Chris Styga, EVP and GM, Financial Services Solutions Group, NetDeposit


  Addison Avenue Automates Processes With UC4

Addison Avenue Federal Credit Union enables 'lights out' operation of its data center, including automated job scheduling, with UC4's workload automation suite.

  CRM Helps De Novo Profit Amid Crisis

First Foundation Bank leverages Sage's SalesLogix customer relationship management system to find investors seeking the safety of bank deposits.


  Wells Fargo Picks Voltage to Secure E-mail

Voltage SecureMail is being used by Wells Fargo to encrypt its companywide e-mail communications.

  Caja de Extremadura Using Digipass 810 Card Readers

Vasco's Digipass 810 card reader is being employed by the bank to secure customers' online banking transactions.

  The PrivateBank Rolls Out SunGard Asset Management System

SunGard AddVantage will be used by the PrivateWealth Group in its efforts to grow its customer relationships and reporting capabilities.

  Franklin Bank Uses DCS for Instant Visa Debit Cards

DCS CardWizard software is being used by Franklin Bank to issue unembossed Visa debit cards at the branch.


  Oracle Launches New Version of Mantas

New Mantas Behavior Detection Platform has been enhanced in response to the growing need for more stringent compliance practices.

Clickatell's SMS Receipts Helps Banks Guard Against Fraud and Identity Theft

Use of SMS helps banks inspire customer confidence and also reduce operational costs.

  XSite Helps Banks Value Commercial Real Estate

New web-based XSite Report service enables users to perform comparative analysis of commercial properties to determine the viability of such an investment.


  New CIO Colin Eccles Makes a Power Play Umpqua

Colin Eccles looks to build Umpqua's technology organization into a 100 percent-available IT shop.

  About Bank Systems & Technology

Bank Systems & Technology provides banking technology executives with the targeted information and analysis they need to help their organizations reduce risk while improving customer retention, competitiveness and financial performance. For more than 40 years, through countless changes in the banking and technology industries, BS&T has delivered consistently on this promise -- helping financial institutions of all sizes make informed decisions about solutions that drive growth and profitability.

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