Phishing is a big problem for banks, and the value in email is hugely diminshed as a result.  This article makes the argument for banks and businesses to unilaterally start using S/MIME and customers would begin to see the signed email, and email operators would have to follow through with S/MIME support. I have no opinion yet on this, but in general it doesn’t sound like a bad idea.  Thoughts anyone? CSO | Signed and Sealed? Might Get Delivered! A good first step to attacking the phishing problem, then, is for businesses that send out large quantities of e-mail to … Continue reading S/MIME as a counter to phishing

Matt and the fabulous team that run Worpress are the folks that built the sotware, and host this blog, so its worth noting this post below. I have been blogging consistently for 3 years, and in the 4 months since I switched to WordPress I am totally converted. They are responsive, and continually improving the product. Best of all, they are real people behind the "code" and that point is very obvious to users of WordPress. Good luck Matt, and thank you for WordPress. Philosophically you are pinko (in the nicest possible way). Photo Matt » A Little Funding The … Continue reading A little funding

Courtesy of biz.yahoo.com Brand Card Usage Awareness Quality Characteristics Score ———————————————————————- Capital One 10.53 15.95 16.02 16.60 59.10 Citibank 6.97 15.63 16.66 17.29 56.55 Discover 7.34 16.45 15.85 16.62 56.26 American Express 6.43 15.69 16.69 17.25 56.06 Chase 9.71 14.12 15.48 16.69 56.00 Bank of America 7.66 12.87 16.09 16.61 53.23 Sears 1.29 16.01 16.89 15.69 49.88 MBNA 5.63 12.23 15.04 15.97 48.86 Wells Fargo 8.18 9.71 14.42 15.49 47.79 U.S. Bank 7.12 7.27 13.70 15.53 43.61 Target 3.17 8.31 14.31 16.16 41.94 Providian 6.32 8.85 12.92 13.82 41.91 National City 8.28 5.39 12.81 14.89 41.37 HSBC/Household 6.40 7.13 13.73 … Continue reading Capital One Lead Credit Card Brand

With the 2008 deadline approaching rapidly, expect to see more such announcements in preparation for Single European Payments Area (SEPA). Finextra: Microsoft teams with TietoEnator, Nordic banks for corporate-to-bank connectivity Microsoft is joining forces with TietoEnator and Nordic banks Sampo, Nordea and OP Bank to develop and launch a Sepa-compliant automated corporate-to-bank connectivity service for transactions and payments. Continue reading Microsoft teams with TietoEnator – SEPA compliant systems

I just brought over the posts that were specific to Banking, from my other blogs. They show up mostly in the category "financial services" which makes no sense in this blog, so I will re-categorise for this blog step by step. Continue reading Imported posts from my other blogs

I have set up the Bankwatch wiki finally. The wiki will collect the research that supports this blog. A Wiki is fluid, and inter-related, whereas a blog is linear. Blogs are not handy for gathering competitive intelligence, and information, which should result in a "body of work" thats easily accessible. The linearity of a blog, means you can only find old stuff by searching, and I find that limiting. So by moving the research into a wiki, that frees up the blog for analysis, and witty intelligent commentary. So I encourage you to add to the wiki. Wiki's are open … Continue reading Bankwatch wiki is now live

Thanks to Confused of Calcutta for pointing me here.  This is the most eloquent description of Open Source I have seen.  It also happens to apply beautifully to net neutrality too.  If the telcoms meet their objective, the water example is precisely how internet will work, and that’s not good!  The issue with net neutrality, and open source is not economic, it is cultural.  The cultural benefits are too great to let them disappear.  And from that cultural improvement and greatness will spring even greater economic benefits than could ever have otherwise occurred.  Joe quotes Doc Searls speaking about software … Continue reading Open source is not economic, it is cultural

I think WordPress is fabulous, and the little improvements they make just make me more and more loyal. Anyhow enough of the commercial. Here are the top 10 posts over the last 30 days. Bank rankings show highly. Next up is fraud, and security. In between there is Paypal, and cross selling. The latter two suggest to me, that we are getting other Banking professionals on the site. I'd appreciate any feedback, or input. I know us Bankers are a stoic, quiet breed, but I encourage comments, available at the bottom of any post, and the discussion that will ensue … Continue reading Activity check on this blog – bank rankings show well

Wriston, head of Citibank several years ago stated that banks would be about information, not money.

1986 – The basis for wealth, has evolved from land to labor to information. “Information about money has become almost as important as money itself,” a famous remark now inscribed in the lobby of New York’s Library of Science, Industry, and Business.

So its apt this development takes place first at CitiGroup … expect others to follow suit.

Citigroup Names Bottega CDO

Rare in any industry, Citigroup is the first financial institution to formally create a c-level data executive position.
By Greg MacSweeney
March 16, 2006For the first time, a financial institution has formally created a c-level data executive position. CitiGroup’s Corporate and Investment Banking (CIB) unit has named John Bottega as its Chief Data Officer (CDO). Bottega, who has 20 years experience managing and transforming reference data functions at Credit Suisse, Merrill Lynch and Lehman Brothers, will be responsible for planning and managing the CIB’s data strategy, policies, line functions and data investments and working closely with the Citigroup’s Global Infrastructure Conversion and Alignment Program (GICAP) team, CIB Technology and the CIB Data Council, according to a Citigroup statement.

Continue reading “For the first time, a financial institution …. a C-level data executive position.”

In a brilliant move Wells have introduced a blog. They have bypassed the issues about why a blog is necessary, and how it works for a bank, with all the associate internal politics, by focussing on Wells Fargo and San Francisco history. Blog address Guided by History Interactive Tour. In creating this blog, we had so many photographs from our archives to choose from it was difficult to select only one or two pictures per post. There are also events that just make more sense when seen in animation, like the progress of the fire within the city. The tour … Continue reading Can a Bank change! Wells Fargo have a blog