Given the small screen, treatment of banking via phone, as an ATM is a novel concept. Payments News: More About MoniLink And The Mobile ATM – April 14, 2006 application downloaded to the bank customer’s mobile phone, balance inquiry and mobile phone top-up applications are supported. Use of the mobile phone as a second-factor authentication token is also being planned. Continue reading More About MoniLink And The Mobile ATM
At first was unsure why this story showed up, but several banks including Wells Fargo and NACHA are members. Identity Network – By Cindie Beach – Military Information Technology A government/industry effort to develop an interoperable authentication network to securely and efficiently verify the identities of defense and contract employees has taken an important step forward with the signing of an agreement between the Defense Manpower Data Center and the Federation for Identity and Cross-Credentialing Systems.…he following organizations are founding members of FiXs: BearingPoint, Data Systems Analysts, EDS, Lockheed Martin, NACHA-The Electronic Payments Association, Northrop Grumman, Saflink, SRA International, SRP … Continue reading Federation for Identity and Cross-Credentialing Systems (FiXs)
European banks continue to lead the way on chip. Banking Briefs – Business news Bulbank said on April 6 it successfully ended the needed certification and can now process chip cards in the country’s network of ATMs. As of now, more than half of the total ATM network has been upgraded, mainly in the bigger cities and seaside resorts. Daily, more than 100 chip card transactions are processed, and the number is expected to increase with the summer season, the bank said in a statement. Bulbank is one of the first European banks migrating successfully to the new messaging standard … Continue reading Bulbank chip card Bulgaria
Market research is always questionable, and somewhat self serving, but this survey (Keane) has significant results in favour of financial planning tools online. Consumers Are Still Not Getting the Online Services They Need From Their Banks The Keane study discovered that many customers want to improve their financial planning but they need – and say they are willing to use – online help from their financial institutions. 80% of Aspiring Planners said they would be likely to use expert advice and online guidance on financial matters and more than 60% would use an online diagnostic planning tool to help them … Continue reading Willingness to use financial planning on Banks’ web sites
Expect more banks to challenge the big networks, as transaction volumes proliferate, and profits simply go to the networks for the new volumes. Charlotte Business Journal: BofA ponders card to rival giants – 2006-04-17 With credit cards increasingly important at Bank of America Corp., the bank is considering the bold step of starting its own payments network to compete with MasterCard and Visa. Morgan Stanley analyst Betsy Graseck, who recently met with senior BofA officials, paraphrased Chief Executive Ken Lewis in a report as saying such a move would be considered.…Graseck estimates BofA could boost its earnings by $70 million … Continue reading BofA ponders card to rival giants
A simple and telling article on the ease with which criminals trade in customers identities. While the numbers traded may not be large, they are very consequential for the customers whose identities are involved.
Revealed: how credit cards are plundered on the Net – Britain – Times Online
Every day at least 400 credit card numbers, along with other personal information including three-digit security codes, PINs and dates of birth, are sold by the gangs, The Times has learnt. Other pieces of information routinely taken include phone numbers, e-mail and street addresses, and mother’s maiden names.
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A credit card number sells for $1 (60p), while a card with a three-digit code fetches $5. Additional security information such as a mother’s maiden name can add $10 to a card’s value and a working PIN can push the price up as high as £100.
Continue reading “Revealed: how credit cards are plundered on the Net”
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
Privacy is becoming more and more a legal issue and this piece covers it well. Within the article there is a relevant point for banks and the tradeoffs that exist in use of information. Nowhere to Run, Nowhere to Hide: The Online Privacy Issue – Knowledge@Wharton In some ways, the debate over privacy on the web shows amnesia about longstanding business practices and consumer behavior, said Accenture’s Brodnitz. “People have been trading personal credit information for better rates on loans for years. They will give up information in exchange for higher quality or good service. Capital One broke the back … Continue reading Accepting Privacy Tradeoffs
Slightly off topic for me, but this post from Andrew McAfee defines precisely why I choose to blog, and it may be of interest to other professionals, in any sphere. There is just so much information to assimilate, supplemented by rapidity of change, that tools are required to maintain information currency and be able to innovate.
It’s very reasonable to believe that most busy professionals are only going to blog if it helps them get their job done. But it’s also pretty reasonable to conclude that blogging will do exactly that.
Europe is a highly competitive, and sophisticated banking marketplace. SAP have produced this report that provides goof insights into smart use of information.
news – Study Reveals Importance of Business Intelligence for European Retail Banks
Banks Face Revenue Growth Roadblock Due to Uncharted Customer Needs, According to Survey Sponsored by SAP
Continue reading “Study Reveals Importance of Business Intelligence for European Retail Banks”
