• One Bank Closed on May 27

    Updated: 2011-05-31 03:42:42
    Now 55 Failed Institutions so Far in 2011One bank closed at the start of the holiday weekend on Fri., May 27. This closure raises the running tally to 55 failed institutions so far in 2011.

  • FDIC: Summit Bank, Burlington, Washington Closes

    Updated: 2011-05-31 03:42:42
    Summit Bank, Burlington, Washington, was closed today by the Washington State Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Columbia State Bank, Tacoma, Washington, to assume all of the deposits of Summit Bank.

  • Breach Response: Transparency Required

    Updated: 2011-05-31 03:42:42
    Nationwide's Privacy Officer on Sony & EpsilonThe recent Sony and Epsilon breaches sent a strong reminder that companies lack transparency and aren't prepared to respond to a breach once it occurs, says Kirk Herath, Chief Privacy Officer at Nationwide Insurance Companies.

  • FDIC: CertusBank Acquires All the Deposits of Two Georgia Institutions

    Updated: 2011-05-31 03:42:42
    CertusBank, National Association, Easley, South Carolina, Acquires All the Deposits of Two Georgia Institutions

  • NCUA: Family First FCU Closes

    Updated: 2011-05-31 03:42:42
    The National Credit Union Administration in February liquidated Family First Federal Credit Union of Orem, Utah. Security Service Federal Credit Union of San Antonio purchased and assumed Family First's assets, liabilities and members.

  • Why We Need Ethical Hacking

    Updated: 2011-05-31 03:42:42
    "Ethical hacking" - is the term an oxymoron, or is it one of today's necessities in the fight against cybercrime? Jay Bavisi, president and co-founder of the EC Council, feels strongly about why we need ethical hackers more today than ever before.

  • FDIC: First Heritage Bank, Snohomish, Washington Closes

    Updated: 2011-05-31 03:42:42
    Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of First Heritage Bank, Snohomish, Washington.

  • Next-Gen Authentication

    Updated: 2011-05-31 03:42:42
    Expert Says Chip & PIN Reduces Need for Neural NetworksCard-issuing banks struggle to find the balance between consumer satisfaction and protection. And in the wake of the Michaels breach, the financial industry knows it has to make a change. One industry expert says stronger card authentication is the answer, and he favors chip-based or EMV-like solutions.

  • Pressure is on Privacy Pros

    Updated: 2011-05-31 03:42:42
    From Epsilon to Sony, recent data breaches and legislative trends tell a dramatic story about the turbulent state of privacy worldwide, according to J. Trevor Hughes, head of the International Association of Privacy Professionals.

  • The Case for E-Mail Encryption

    Updated: 2011-05-31 03:42:42
    With so much critical information being exchanged today via e-mail, now is the time to deploy next-generation e-mail encryption solutions, says Bob Janacek, CTO and founder of DataMotion.

  • Things worth reading: 30th May 2011

    Updated: 2011-05-30 03:07:03

  • Are There Things You Can Do Now to Make for a Better Retirement Later?

    Updated: 2011-05-29 22:01:32
    An article in this morning’s Wall Street Journal money insert, Ready to Retire? Here is a Five Year Retirement Plan, made me high-tail it to the gym. Thinking about retirement is both scary and fun, and we'va all seen plenty...

  • The Finanser's Week: 23rd May - 29th May 2011

    Updated: 2011-05-29 04:26:04

  • Google Wallet-Regulatory Implications

    Updated: 2011-05-28 02:39:01
    Yesterday, Google unveiled its Google Wallet near field communications payment app for Android phones. As far as I can tell, Google Wallet basically stores your payment card information for multiple cards (credit, debit, prepaid) and then lets the phone act...

  • Win Win Win

    Updated: 2011-05-27 16:15:31
    Walter Wriston, former Chairman and CEO of Citi once said, “Information about money has become almost as important as money itself.”  Google gets it. Up to this point I have been skeptical of the NFC business case and have blogged about it. Thin Isis Making a Bad Business Case Worse: Durbin and Mobile NFC Google has [...]

  • How to Make Banks Safer -- Lessons From the Swiss

    Updated: 2011-05-27 11:45:19
    Hoping to avert future bank bailouts, Switzerland is considering building a fence around parts of one of the country's most important financial institutions.

  • How BIG is Google's Wallet launch?

    Updated: 2011-05-27 08:44:17

  • Things worth reading: 27th May 2011

    Updated: 2011-05-27 07:58:40

  • The future of self-service

    Updated: 2011-05-27 07:08:00

  • Google Mobile Wallet: A Big Step for Payments

    Updated: 2011-05-27 01:43:18
    Yesterday Google announced a new mobile wallet in partnership with Citibank, MasterCard, First Data and Sprint. Is it significant? Yes, very. Why? For a number of reasons. First and foremost, mobile proximity payments are getting a boost from a large player whose primary interest is NOT payments. Paradoxically as it may sound, in my view this is [...]

  • I Hate Being Wrong

    Updated: 2011-05-26 21:13:24
    Several years ago when interviewing for the position I now hold, my manager emphasized, “It’s all right to be wrong occasionally, but it’s never all right to be without a position”. That’s always been hard for me. Since I hate being wrong, I tend to take a while getting comfortable with a position before going [...]

  • Will banking follow music, movies and books?

    Updated: 2011-05-26 08:57:22

  • Treehuggers Unite!

    Updated: 2011-05-26 08:01:00

  • Things worth reading: 26th May 2011

    Updated: 2011-05-26 06:57:08

  • Mobile contactless finally in my hand

    Updated: 2011-05-25 14:20:52

  • Celent’s Mobile Banking Panel June 16 in Atlanta

    Updated: 2011-05-25 14:00:05
    Mobile banking 1.0 is much like internet banking 1.0: a statement on a screen. North of 80% of all mobile banking transactions are balance inquiry and view recent transactions. Now banking are thinking about the next level of functionality: actionable alerts, bill pay transactions, P2P transactions, and check remote deposit capture on the smart phone. How [...]

  • Things worth reading: 25th May 2011

    Updated: 2011-05-25 08:14:49

  • CFPB Oversight Compared with Other Regulators

    Updated: 2011-05-25 01:32:55
    A lot of the debate at today's Government Oversight hearing on the CFPB dealt with whether the CFPB was the most accountable or the least accountable federal government agency ever. My position has been that compared with other federal financial...

  • Personal Teller Machines: The Next Evolution of ATMs?

    Updated: 2011-05-24 19:54:40
    Last week NCR announced a partnership with uGenius that will result in a new NCR device adding real time video to the ATM experience.  The new NCR APTRA Interactive Teller ATM, based on its successful SelfServ 32 platform will add hardware components such as a Speaker, photo ID scanner, signature capture device, microphone and handset [...]

  • Things worth reading: 24th May 2011

    Updated: 2011-05-24 08:02:02

  • Greece, et al Explained

    Updated: 2011-05-23 16:01:11
    Over at Alphaville, in a funny little video from the EU Parliament. But as Alphaville notes, who knew sovereign debt restructuring had rules? Somebody should have told Argentina.

  • Things worth reading: 23rd May 2011

    Updated: 2011-05-23 06:55:02

  • The Finanser's Week: 16th May - 21st May 2011

    Updated: 2011-05-22 07:25:00

  • Really, Crashing Into the Debt Ceiling Is a Terrible Idea

    Updated: 2011-05-20 21:10:16
    Some Republican lawmakers insist that the risk of not lifting the U.S. government's borrowing limit is overblown. Here's why they're dead wrong.

  • Does anyone have a P&L for payments?

    Updated: 2011-05-20 13:09:23

  • Things worth reading: 20th May 2011

    Updated: 2011-05-20 08:10:01

  • The Future of Online Banking

    Updated: 2011-05-19 16:45:23
    The online banking space has stagnated for far too long. The evolution of the Internet has provided consumers with rich and interactive experiences online. Unfortunately, the banking industry has not kept pace with the evolution of the Internet and customers have started to demand that their banks keep up with the times. For the most [...]

  • Don't Charge It: The Hidden Risks of Business Credit Cards

    Updated: 2011-05-19 11:45:13
    Planning to fire up that corporate card? Caveat emptor. It can expose users to practices that have been banned for regular cards.

  • Why Facebook will not become a bank

    Updated: 2011-05-19 10:30:12

  • Rewards on Prepaid

    Updated: 2011-05-19 09:49:55
    We are all familiar with loyalty points and other types of rewards we get on credit cards. The economics (i.e. relatively higher interchange, opportunity to earn interest fees, etc.) and the stand-alone product nature (i.e. not linked to a current account) meant that many credit card issuers used to look for additional ways to stand out [...]

  • Things worth reading: 19th May 2011

    Updated: 2011-05-19 03:00:26

  • Cheat Street: How U.S. Banks Help Foreigners Dodge Their Taxes

    Updated: 2011-05-18 19:00:23
    The feds are cracking down on Americans who use offshore bank accounts to dodge the tax man. But that doesn't stop the U.S. from being the top tax haven for foreigners.

  • The Truth About Title Loans and Repossession

    Updated: 2011-05-17 22:08:45
    Susan Price filed for bankruptcy in 2005, when she became disabled. She now receives $980 a month in disability payments and her rent is $550. Not so bad unless you consider her last move to make ends meet. She borrowed...

  • Finovate Spring 2011 Roundup

    Updated: 2011-05-17 01:23:40
    Last week I headed out to San Francisco for Finovate Spring. Finovate is my favourite conference of the year for a few reasons. I actually attend the demos and am not in meetings the entire time; the demos are a short 7 minutes - more than enough time for an analyst to make a quick [...]

  • HuffPo: HUD IG Finds Servicing Fraud

    Updated: 2011-05-17 00:50:03
    Shahien Nasirpour at Huffington Post has broken a story that HUD's Inspector General has conducted an audit of FHA-insured loan foreclosures by the big 5 servicers (BoA, JPM, Wells, Citi, Ally) and concluded that they have been defrauding the government...

  • How the Credit Rating Bureaus Favor Celebrities

    Updated: 2011-05-16 22:31:04
    Why do the major credit agencies do such a poor job correcting mistakes in consumers' credit records? It doesn't pay.

  • Multichannel Management: Avoiding Channel Myopia

    Updated: 2011-05-16 01:50:53
    BAI Banking Strategies recently published an excellent piece on multichannel management featuring an interview with Jim Di Ciaula of BMO Harris Bank. Reading the article inspired me to share two common pitfalls in multichannel management: following the customer and listening to the zealots. Both are examples of channel myopia. Following the Customer In a previous post we [...]

  • QR Codes in Payments

    Updated: 2011-05-09 16:15:24
    Recently there has been a noticeable increase in announcements to use QR (Quick Response) codes in financial services and payments context. Celent has already blogged about how the code can be used to buy a Starbucks coffee. Last week, Smart Transactions launched a loyalty card, where customers can check their card balances (and receive instant merchant offers) using [...]

Current Feed Items | Previous Months Items

Apr 2011 | Mar 2011 | Feb 2011 | Jan 2011 | Dec 2010 | Nov 2010