SUMMARY
Phishing is becoming a serious problem in Financial Services, and will cost the industry $400 million in 2004. But this amount pales in comparison to the credit card fraud with Visa alone at $4Bn pa. However the perpetrators are the same – given the movement to curtail fraud in the card industry, I believe the criminals are hedging their activities to prepare for a big onslaught into the debit card and online banking industry, and phishing is the start.
Continue reading “Phishing – why this is not “just another security issue””

Internet Changes Everything: Canada Post buys BCE’s Webdoxs

All I can say is that this is long overdue. The competing efforts at bill presentment in Canada, left the country in a situation where:

1) customers were losing out,
2) billers were losing out, and dare I say it,
3) Banks were losing out.
Continue reading “Time to feel positive about Electronic Bill Payment & Presentment”

Times Online – Newspaper Edition

By Nic Hopkins and Dan Sabbagh

MINORITY shareholders of Symbian, which makes technology for mobile phones, are aiming to prevent Nokia from acquiring a 63 per cent stake in the group through the purchase of Psion�s 31.1 per cent stake for 135 million.
The shareholders, which include Sweden�s Ericsson and Siemens, of Germany, are understood to have decided to take up their right to acquire a share of Psion�s stake on a pro rata basis, which would limit Nokia�s possible shareholding to 46 per cent.
Continue reading “Symbian shareholders set to block Nokia control”

Times Online – Newspaper Edition

By Nic Hopkins

FRANCE T l com yesterday offered �3.9 billion ( 2.62 billion) in cash and shares to acquire the remaining 29.4 per cent of Wanadoo, Europe�s second largest internet service provider and the owner of Freeserve.
The French group said that by taking ownership of Wanadoo it hoped to take full advantage of surging profits at the company.
Continue reading “T l com offers 4bn for internet provider”

From the "dot communist". I think the reasons given against, are precisely the reason why corporate blogs will work. Admittedly it will require risk taking by company's prepared to permit unedited publishing direct to the consumer but thats where the conversations will begin. the dot-communist Here's something to chew on: Can a publishing company ever really publish a weblog? Should it even try? Weblogging is *micropublishing*; it is to corporate media websites what 'zines are to paper publishing. So, when a publishing company posts content that has gone through an editorial vetting process using weblog software, is it (a) a … Continue reading Why corporate blogs aren\’t

Yahoo! News – Identity Theft, Internet Fraud Reports Up in U.S.

Thu Jan 22, 3:13 PM ET

By Andy Sullivan
WASHINGTON (Reuters) – Americans reported losses of $437 million last year to identity theft and fraud as scam artists made themselves at home on the Internet, according to federal statistics released on Thursday.
Continue reading “Identity Theft, Internet Fraud Reports Up in U.S.”

December 22, 2003

Interest in Online Banking Grows

Barring a major security breach, online banking will enjoy steady growth for the foreseeable future as remaining U.S. households without Internet access go online, a new report concludes.
According to Jupiter Research (which is owned by the same parent company as this Web site), the number of online banking households will grow at a compound annual growth rate of 14 percent to 56 million over the next five years.
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Online Banking: The basics

If you’re like most people, you’ve heard a lot about online banking but probably haven’t tried it yourself. You still pay your bills by mail and deposit checks at your bank branch, much the way your parents did. You might shop online for a loan, life insurance or a home mortgage, but when it comes time to commit, you feel more comfortable working with your banker or an agent you know and trust.
Online banking isn’t out to change your money habits. Instead, it uses today’s computer technology to give you the option of bypassing the time-consuming, paper-based aspects of traditional banking in order to manage your finances more quickly and efficiently.
Continue reading “What is online banking?”

Online Banking Report: Internet Strategies for Financial Institutions. RESOURCES

A look at current online banking usage and projections through 2012
OVERVIEW
Mainstream users continue to flock to Web banking
If not for the foul economic climate and over inflated expectations of the late �90s, the online channel would be the toast of the industry. By most measures, online banking is a runaway success. Compounded annual growth since OBR�s founding, at year-end 1994, has been 80%. Worldwide, more than 100 million households now bank online, up 20-fold. In the U.S., household adoption passed 25% a few months ago, up 100-fold since 1994. Looking ahead, we project another doubling of usage in the U.S. to 50 million households by decade�s end. Worldwide, the total is expected to triple to 300 million or more households.
Continue reading “Online Banking by the Numbers 2003”

Guardian Unlimited Money | Cash clinic | Online banks ‘get top marks’

Sarah Crown
Tuesday January 13, 2004

Online bank customers are increasingly enthusiastic about their method of banking, with 70% now rating the service as excellent or very good, according to an independent survey of the sector released today.
The results from the Virtual Online Banking Survey, published quarterly, showed that customers’ assessments of online banks have improved significantly over the past 12 months. The survey asks customers to rate their banks on a scale of one to five (one being poor; five excellent). The average rating out of five for achieved by the UK’s online banks rose from 3.6 in 2002 to 3.9 in 2003.
Continue reading “Online banks ‘get top marks’”