October 2007

New forecasts from Juniper Research show that around 52 million consumers will adopt new mobile technologies such as NFC (Near Field Communication) and other physical mobile payment methods to pay for everyday goods and services by 2011. This will help drive the physical mobile payments market to $11.5bn by the same year. Other findings from […]

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Forgive me this somewhat off-topic post, but it made me laugh out loud. Excerpted from Dave Birch at Digital Money Forum: [Dave Birch] It's amazing to me — no, not amazing, more kind of quaint, reassuring and comforting — that in this high-technology e-money world, there are crooks who still try to rob banks the […]

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Finally, public announcement of BOC roll outs… The Midwest grocer Hy-Vee ($5.2 billion, 224 store locations) has selected NCR's ImageMark solution for Back Office Conversion (BOC). Checks will be scanned in the back office at each store and transmitted to corporate headquarters. From there items eligible for BOC are converted to an ACH and non-eligible […]

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Financial Week's Matthew Quinn observes that Gary Crittenden at Citigroup has the toughest CFO job in the world. The toughest CFO job in the worldThree words to describe Gary Crittenden’s challenges at Citigroup: Oh. My. God.By Matthew QuinnFinancial WeekOctober 22, 2007

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Cash processing is not only time consuming but fraught with security challenges (and associated high costs of dual custody, surveillance, etc.). The astounding success of remote deposit capture of checks has prompted interest in remote CASH deposit services. Bankers are attracted to the ability to serve customers in areas where they do not have branches […]

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Here’s an update on NACHA topics from this morning’s sessions at the Association for Financial Professionals conference being held this week in Boston. Check to ACH Conversion Some of us in the industry will remember a brief and ill-fated “Check-ACH Coalition” in 2006, targeting a larger-scale conversion of checks to ACH, at a bank’s instigation […]

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Results of a new survey from the Association of Financial Professionals (AFP), released in conjunction of the annual AFP conference in Boston this week, reveal that business are gradually adopting electronic payments. The study is a follow up to a similar survey conducted in 2004. Summary of key findings: The number of check payments has […]

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In Boston at its annual conference the Association for Financial Professionals (AFP) announced a partnership with IBM to develop a comprehensive treasury benchmarking program. The multi-year project is being underwritten by Deutsche Bank Global Transaction Banking, which will also promote the program through its global network. The first study in the program covering treasury operations […]

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There are 6,000 people at this year’s AFP (Association of Finance Professionals) conference in Boston, and it feels like half of them must be smashed into this morning’s session on “The Retail Merchant’s Customers’ Payment Options: Deciding Between C21, BOC, ARC & POP”. Peter Nash of CVS, Charlie Labassi of Home Depot, and Delores Ratliff […]

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A recent survey by the Independent Community Bankers of America (ICBA) finds that community banks are leveraging technology and electronic payments to serve small business customers and extend their market reach. More than 1,100 community banks responded to the survey. Community banks are implementing check image clearing and settlement at an unprecedented rate. Nearly 90 […]

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Business Finance magazine and JPMorgan Chase surveyed 500 corporate Treasurers to better understand the trends impacting their departments and what keeps them up at night. Large Companies ($2 billion + annual revenue) vs. Smaller Companies (under $100 million) 79 percent of large companies identified internal efficiency as the factor of greatest importance in the treasury […]

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I recently attended a lecture by Carly Fiorina (in the magnificent Paramount Theater) on the topic of change. She made one point that I thought was particularly noteworthy (paraphrased): By the time you've got consensus that change is necessary it's too late – you've lost your opportunity to competitors. The biggest challenge in leading change […]

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Fortune 500 companies with the highest representation of women board directors attained significantly higher financial performance, on average, than those with the lowest representation of women board directors, according to non-profit Catalyst’s most recent report, The Bottom Line: Corporate Performance and Women’s Representation on Boards. In addition, the report points out, on average, notably stronger-than-average […]

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Let your employees know what you really think with customizable AmEx gift cards. (via Payments News)

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Yesterday American Banker assessed NACHA's Deposited Check Truncation (DCT) pilot scheduled to start 1st Quarter 2008. This is a second attempt to clear checks electronically over the ACH network as an alterative to image exchange. The previous attempt to clear checks via the ACH network sponsored by the Check ACH Coalition died early this year. […]

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