September 2007

Bank Systems & Technology has a thorough article today on the various challenges facing commercial banks as they fight commodization of their core transaction processing capabilities. The need to differentiate on service to overcome product commoditization is especially true in the payments area, says Maggie Scarborough, research manager with Boston-based Financial Insights. "For years, banks […]

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U.S. Banker released its fifth annual “The 25 Most Powerful Women in Banking” ranking, which honors the banking industry’s most influential executives based on their financial performance, professional achievements, and use of influence within their organizations and across the industry. “This year’s 25 MPWIB honorees represent a remarkable group of leaders—each distinct in her progressive […]

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According to new research from Javelin Strategy & Research credit card share of online payments is expected to decline from 60% today to 44% in 2012. Debit card usage is expected to remain steady. In addition to PayPal, Google Checkout, and Bill Me Later literally dozens of companies are competing in the alternative payments space. […]

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In the latest issue of BAI's Banking Strategies Karen Epper Hoffman explores whether or not there is a viable business case (from banker's perspective) in developing mobile banking capabilities. At mid-2007, at least nine U.S. banks had begun to develop or had rolled out a mobile banking service to their customers, either through a proprietary […]

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Today's New York Times highlights the efforts of smaller merchants to reduce credit card processing fees. With processing fees being often the third- or fourth-largest expense for a small business, merchants are using various tactics: some have introduced split pricing (charging a lower price for cash) and others are encouraging customers to pay with PIN-based […]

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Yesterday JPMorgan announced the launch of AP Trac, the first new service based on its purchase of Xign back in May. APTrac is intended to replace paper checks, settles transactions via the purchase card network, delivers remittance data, and allows both buyers and sellers to track payments online. APTrac should be attractive to corporate AP […]

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How effective is your purchase card audit process? Hopefully stronger than this company's: The travel manager of a Silicon Valley high-tech firm was charged with wire fraud today in federal court for allegedly charging $90,000 in personal expenses to a corporate credit card, including private-school tuition for her son. Read more: Silicon Valley boss accused […]

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Today's big payments story is Revolution Money (formerly GratisCard) a new internet payment system backed by AOL co-founder Steve Case, among other high profile supporters, including former Treasury Secretary Lawrence Summers, former Charles Schwab CEO David Pottruck, former Fannie Mae CEO and former director of the Office of Management and Budget, Franklin Raines, and former […]

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Robert Levering and Milton Moskowitz, authors of the annual FORTUNE "100 Best Companies to Work for in America" survey, have determined that trust is the key ingredient of a good workplace: "A good workplace is one where management trusts the employees and where employees trust the management." Learn more about employee-employer trust at the Great […]

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The SEC has completed the development of data tags for GAAP, a major milestone in moving financial reporting toward interactive XBRL format.  The taxonomy includes 12,000 different data elements. The SEC will now focus on developing recommendations as to when use of the new format will be mandated, although a recommendation is not expected until […]

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by Linda Elliott Linda provides another update from this week’s Digital ID World. Phil Becker asked the question at a Digital ID World breakout session: “What will make Amazon or eBay start really using the identity infrastructure?” Those who watch the web, authentication initiatives following on the FFIEC push for strong authentication dating back two […]

The latest Digital Transactions explores why adoption of Back Office Conversion (BOC) has been so meagre six months after NACHA launched the transaction type for converting checks to ACH transactions in the back office of merchants instead of at the point-of-sale (via the POP transaction type). The primary cause of the slow start is the […]

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by Linda Elliott The exhibition floor at a conference can tell you a lot about the state of development of the topic. Exhibitors front and center on the exhibit floor at Digital ID World this week are MSFT, Novell, Oracle, AOL, while the smaller players, who were the only ones a few years ago: Ping, […]

Scott Loftesness, the go-to source for payments news, just posted an article titled Glenbrook's Thumbnail Mobile Banking Strategy on the Glenbrook website. He's setting aside mobile payments – "a whole separate kettle of fish" – and, as promised, delivers concise, actionable advice for those financial institutions still sitting on the proverbial fence. Excerpt: … just […]

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CNET"s TechRepublic blog 10 Things lists ten signs that you aren't cut out to be a project manager. There are a variety of skills and personality characteristics that make a great project leader. You may possess some of them. Yet, if 2-3 of these signs resonate with you, you may want to consider bringing in […]

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