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.
(Photo: http://www.newscom.com/cgi-bin/prnh/20090506/NY11767 )
This and other bank technology-related coverage from the new April/May 2009 issue of Bank Systems & Technology now is available online at BankTech.com.
FROM THE EDITOR 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?
http://banktech.com/showArticle.jhtml?articleID=217100150 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.
http://banktech.com/showArticle.jhtml?articleID=216402980 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.
http://banktech.com/showArticle.jhtml?articleID=216403058 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.
http://banktech.com/showArticle.jhtml?articleID=216500249 FEATURE 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.
http://www.banktech.com/showArticle.jhtml?articleID=215900298 Sidebar 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.
http://banktech.com/showArticle.jhtml?articleID=215801345 INDUSTRY WATCH 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.
http://banktech.com/showArticle.jhtml?articleID=216402476 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.
http://www.banktech.com/showArticle.jhtml?articleID=216402724 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.
http://www.banktech.com/showArticle.jhtml?articleID=215900757 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.
http://www.banktech.com/showArticle.jhtml?articleID=214501852 PAYMENTS WATCH SWIFT Slashing Costs to Adapt to New Economic Reality
SWIFT looks to cut costs and strengthen infrastructure with distributed architecture.
http://www.banktech.com/showArticle.jhtml?articleID=216900448 STRATEGY WATCH 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.
http://www.banktech.com/blog/archives/2009/03/into_the_storm.html RISK/COMPLIANCE WATCH 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?
http://banktech.com/showArticle.jhtml?articleID=216900353 Customers Welcome RDC's Convenience Sherry Sitton, EVP, First Command Bank http://banktech.com/showArticle.jhtml?articleID=216900225 Consumer RDC Is a Win-Win for Banks and Customers Bob Meara, Senior Analyst, Celent http://banktech.com/showArticle.jhtml?articleID=216900226 Consumer RDC Appeals to Small and Home Offices Paul Danola, President, Image Solutions Division, Metavante http://banktech.com/showArticle.jhtml?articleID=216900227 RDC a Natural Extension of Online Banking Chris Styga, EVP and GM, Financial Services Solutions Group, NetDeposit http://banktech.com/showArticle.jhtml?articleID=216900228 BEST PRACTICES 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.
http://www.banktech.com/showArticle.jhtml?articleID=215600276 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.
http://www.banktech.com/showArticle.jhtml?articleID=216403434 ROLLOUT Wells Fargo Picks Voltage to Secure E-mail
Voltage SecureMail is being used by Wells Fargo to encrypt its companywide e-mail communications.
http://banktech.com/showArticle.jhtml?articleID=214500452 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.
http://banktech.com/showArticle.jhtml?articleID=215600049 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.
http://banktech.com/showArticle.jhtml?articleID=215801940 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.
http://banktech.com/showArticle.jhtml?articleID=215900428 NEW PRODUCTS 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.
http://banktech.com/showArticle.jhtml?articleID=215900477 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.
http://www.banktech.com/showArticle.jhtml?articleID=215801329 EXECUTIVE WATCH 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.
http://www.banktech.com/showArticle.jhtml?articleID=216900469 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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