AI

Branches Are for Errands, Not Sales

Colin Henderson

Chinks starting to show in the armour of the "return to branches" mentality which has been pervasive since the dot com crash. Live from BAI Retail Delivery : Branches Are for Errands, Not Sales Banks may be eager to tout their comfy branches, with their free coffee, newspapers on hand and plasma TV screens. Yet all too often, they lose sight of what the customer really wants: service that�s simple, easy and fast, said James McCormick, president of New York City-based First Manhattan Consulting Group LINK TO (www.fmcg.com/). In a Thursday afternoon session entitled "Keys to Gaining Share: Which Strategies … Continue reading Branches Are for Errands, Not Sales

Web/Tech

Good IT is key in the war against the enemy within

Colin Henderson

Good IT is key in the war against the enemy within – PKF – Times Online

By Liz Loxton
The challenges facing businesses when they fear they are victims of dodgy dealing
we can only use this for up to 30 days after it was used in the paper

DISCOVERING a fraud would come as a shock to any organisation, particularly when the fraudster turns out to be an employee or colleague. However, more than 80 per cent of frauds are committed by managers or employees, says David Dearman, a partner at PKF.

�Those individuals know the procedures and how the controls can be circumvented. I don�t think any organisation is without risk from employees,� Dearman says.
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Uncategorized

Computer forensics are first battle line in authentication

Colin Henderson

Payments News: Results: Payments News Strong Authentication Survey The winners were: computer forensics with challenge/response and secondly, stronger passwords. These were followed by crypto tokens, software certificates and fingerprint biometrics. The losers were: one time password – paper card and onetime password – token, followed by challenge/response, voice biometrics and one time password – SMS to the phone. Continue reading Computer forensics are first battle line in authentication

Uncategorized

Bank security key issue for consumers – EDS

Colin Henderson

http://www.finextra.com/fullstory.asp?id=14280
Around a third of consumers would close all accounts and move their business to another bank if their person financial information was compromised in a data security breach, according to a survey commissioned by EDS and conducted by Canadian market research firm Ipsos Reid.

The survey of just under 1500 North American consumers also found that 10% would close some of their accounts and use another bank if their personal data was breached, while 55% would discontinue banking until they felt the crisis was resolved.

Commenting on the study, Jean-Louis Bravard, EDS financial services global leader, says: “The act of protecting consumers’ personal information is not only imperative to meet compliance standards but is essential in a financial institution’s ability to attract and retain a solid customer base. Financial providers must rise to security challenges or they risk losing their customers.”
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Uncategorized

Piecing the jigsaw is a PwC paper focusing on the future of the financial services

Colin Henderson

Good in-depth piece from at Finextra, from Price Waterhouse on future of Financial Services.

http://www.finextra.com/fullfeature.asp?id=670

Piecing the jigsaw is a PwC paper focusing on the future of the financial services industry over the next three years and considers the drivers, risks and opportunities, as well as the impact and responses for existing and potential players in the industry.

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Payments

US-based MobileLime mobile payment system reviewed: don’t leave your wallet at home just yet

Colin Henderson

Courtesy of http://www.engadget.com/entry/1234000403059063/ The AP’s Brian Bergstein tried out Massachussetts-based Vayusa Inc.’s MobileLime system, a new mobile payment service now operating in the Boston area. Of course, our neighbors in Japan have been hip to this for a while now, but Vayusa hopes to jump-start the mobile payment industry over here in that good ol’ cellular backwater we know and love. Right now MobileLime is only available at 80 stores in the greater Boston area, and as Bergstein reports, it’s not always a trouble-free experience to actually make a successful payment. He experienced a number of transactions where, in the … Continue reading US-based MobileLime mobile payment system reviewed: don’t leave your wallet at home just yet

Uncategorized

E-banking security provokes fear or indifference

Colin Henderson

By John Leyden
Published Wednesday 7th September 2005 14:20 GMT
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A recent study by analyst Forrester Research has unearthed conflicting views about the safety or otherwise of online banking. The survey of 11,300 UK net users found that while many online banking consumers are complacent about security, a large minority have given up online banking as a direct result of security fears.

Most UK net users are aware of security threats like phishing and keystroke logging but are unfazed by these risks and expect their banks to deal with the problem – even though these attacks are thrown against consumer’s PCs rather than a bank’s own systems. Ideally users want banks to supply a blanket guarantee against fraud.
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