Web/Tech2 Comments

SOA and EDA: How EDA extends SOA and why it is important

Colin Henderson

 One of the things I enjoy about internet, and blogs in particular is the continual surprise at the wealth of knowledge and opinion.  I actually lost the link for how I got here (apologies) but Jack, from Holland, writes a clear description of the circumstances to consider SOA vs EDA (Event Driven Architecture). This is highly applicable to Banks because they are (generally) either Command and Control or siloed and this helps to determine whether SOA or EDA is applicable as an architecture strategy.  May be useful next time the IT folks promote one way of doing things. If you are … Continue reading SOA and EDA: How EDA extends SOA and why it is important

Payments

Fiddling with Interchange is not a simple proposition

Colin Henderson

Australia is an interesting study on the topic of interchange.  Its a relatively homogenous market, making it a reasonable study and control group.  The regulators sought to improve the position of consumers. This paper (link courtesy of Payments News) looks at the interchange reforms in that country. With the changes to the economics of both the credit card and the EFTPOS systems in Australia, some of the larger merchants are becoming self-acquirers. Coles Myer, for example, has links with all of the major Australian banks, American Express, Diners Club and agencies.  All payments through Coles terminals are ‘acquired’ by Coles and switched directly … Continue reading Fiddling with Interchange is not a simple proposition

AI

Virtualcity.ca – A Google Maps mashup that would work for Banks

Colin Henderson

There are lots of examples of Google Map integrations, but this one is a standout.  It would work well for Banks once they get the database filled out.  This would be a great addition to a Branch Locator. Here is a link for a Toronto Bank that happens to stand out well in the pictures.  Its a beta … when you get there an annoying automated help appears – just close it.  http://www.virtualcity.ca/?location=051854193 Move the little black X around, and watch the photos change.    Technorati tags: branch, branch+locator, google+maps, mashup Continue reading Virtualcity.ca – A Google Maps mashup that would work for Banks

Security

The Retail Bulletin – Chip & Pin reduces fraud, but fraud continues elsewhere

Colin Henderson

The opening sentence in this quote sums up the weakest link approach that criminals follow. Nonetheless, it appears that chip and pin is reducing card fraud in the UK so far. But rather than reducing fraud in total, identity fraudsters have simply shifted their activity to areas that Chip and PIN does not protect. The first signs came in the cheque fraud figures which showed a rise of 50% in the first six months of 2004, compared with the same period in the previous year. But the cost of cheque fraud is dwarfed by continuing card fraud. “It would be nice if … Continue reading The Retail Bulletin – Chip & Pin reduces fraud, but fraud continues elsewhere

Security2 Comments

Nigerian scams cost Britons millions, says study – Yahoo! News

Colin Henderson

Known for scam also know as the 519 419 scam, Nigeria has successfully elevated itself to be known universally for this. Britons now closely associate the African country with the so-called “advance fee” scam whereby people are contacted by e-mail and offered the opportunity to earn millions of dollars. The recipient is told they will earn a commission in exchange for aiding the sender in transferring funds. Source: Nigerian scams cost Britons millions, says study – Yahoo! News I know my UK email address is inundated with these scams, whereas my US based gmail is not.   For the life of me, … Continue reading Nigerian scams cost Britons millions, says study – Yahoo! News

US

Bank of America to acquire US Trust

Colin Henderson

 Based on assets under management currently by private banks. U.S. Trust is fourth, and BofA is second. The combined entity would be first, with $261 billion in assets under management. Bank of America will acquire U.S. Trust from The Charles Schwab Corporation for $3.3 billion in cash. Closing is expected on March 31, 2007. U.S. Trust was founded in 1853 with a mission to serve as manager, executor and trustee of personal and corporate funds. Today it has almost 2,100 employees based in 33 locations. It has approximately $94 billion of assets under management. Source: Bank of America | Newsroom … Continue reading Bank of America to acquire US Trust

AI

How US Youth Use Mobile -They Value Mobile Highly, Spend Liberally, And Go Well Beyond Voice

Colin Henderson

While a statement of the obvious, this Forrester piece is indicative of the next generation that Banks need to be thinking about.  ATM’s & Online Banking will not be enough.  A complete reconfiguration of Call Centres will be required, as well as the channel technology support. Family plans and prepaid options have succeeded in driving mobile phones to an increasing number of young US consumers 79% of online 12- to 21-year-old US consumers tell us that they have their own phone today. Given a choice, these young consumers prefer to use their mobile phone and do so to the exclusion … Continue reading How US Youth Use Mobile -They Value Mobile Highly, Spend Liberally, And Go Well Beyond Voice

Innovation

Supriem [Bank and Trust Company] , The future of Banking – good value proposition, but nothing more

Colin Henderson

Some lofty claims from someone with a rather odd first name, but well known last name. I have great doubts about the validity of this operation. Their so called technology partner, Frantech has a site straight out of 1995 that does not engender confidence. It has two email addresses – one for the president, and one for the webmaster. Enough slagging. However I will comment that the value proposition they offer is interesting and well formed to the global mobile workforce, offering this service in 220 countries (their claim) which pretty much means anywhere. Supriem [Bank and Trust Company] will … Continue reading Supriem [Bank and Trust Company] , The future of Banking – good value proposition, but nothing more