June 2008

According to Bank Technology News, SWIFT has opened an office in San Francisco (at the base of California Street) to better serve its 160 customers and potential customers on the West Coast. Welcome SWIFT!

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A recent guest post by Mike Kavis at the IT Project Failures blog underscores that the reason IT projects fail has little to do with IT and everything to do with change management and leadership. Most large business transformation projects fail because IT leaders don't acknowledge, or at least underestimate, the impact of change on […]

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Over at FinanSer/SWIFT Community, Chris Skinner observes PayPal's 10th birthday with a round up of stats demonstrating the remarkable growth of PayPal and shift toward metrics like active users rather than registered users as their business matures. Excerpt: In their latest company presentation, published June 16th, they have these figures: PayPal operates in 190 markets […]

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via IT Project Failures… Analogies for ERP Implementation: 1. The implementation will be like open heart surgery while the patient is still alive and working. 2. An ERP implementation is like the corporate equivalent of a brain transplant. 5 more here

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The June issue of CFO Magazine explores IT spending trends (anticipating a slight decrease) and efforts to better understand total cost of ownership for IT. The article also features a sidebar on cutting IT costs and energy costs simultaneously, thus doing good for both the bottom line and the environment: Standardize on products wherever possible. […]

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The SWIFT Rulebook for ISO 20022 Corporate to Bank standards has been available since mid-May and is published here. The Rulebook is step 3 of a four step process to facilitate standards implementation in order to support banks and corporates attempts to automate payment initiation and tracking. Step 1: Common Development (details here) Step 2: […]

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My previous post on Wells Fargo's mobile banking for corporates was very popular, so I imagine Forte Blog readers will be interested in these recent updates to WF's CEO Mobile service: Wires: CEO Mobile users now can initiate and approve wires from wherever they are and are no longer tied to their PC in the […]

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VISA Commercial partnered with Deloitte Consulting to conduct the 2008 Global Procure-to-Pay and Commercial Card Best Practices Study. This is an refresh of earlier research. Previously identified and still relevant best practices include: Implementing an automated end-to-end financial process; Using supplier relationship management tools; Incorporating full data integration to provide enhanced reporting and spend analytics; […]

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From Bank Technology News: Ariba, a spend management solutions firm, has agreed to a first-ever private-label agreement for its invoice and payments technology with Citi’s Global Transaction Services unit. Citi plans to integrate Ariba with its own e-payment and supplier finance offerings. Those programs include Citi’s recently launched purchase card program and connectivity to major […]

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We were intrigued by this week’s announcement that the FDIC had issued enforcement actions against two banks (and reached a settlement with a third bank) related to their sponsorship of credit card programs promoted by CompuCredit. These actions follow a lawsuit by the Federal Trade Commission against a subsidiary of CompuCredit alleging deceptive practices in […]

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Chris Skinner contemplates payments risk and fraud prevention in anticipation of his Oxford Society style debate at the Financial Services Club (London). In preparation, he's posted the text of a speech on risk management. After the debate he'll post more (His post-debate write up is here). For now, here's an excerpt: I would claim that, […]

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At the Bank Lawyer's Blog there is a thoughtful discussion of remote deposit capture fraud risk and whether banks (particularly community banks) are playing it too safe. Well worth reading. (via PaymentsN ews)

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Are CFOs ready for the spotlight? According to CFO.com research from Greenwich Associates reveals that for the first time an annual survey of Wall Street equity analysts ranked the credibility of a company's finance chief as more important to the overall IR effort than that of the chief executive. But it was the endorsement of […]

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Glenbrook's Linda Elliot was at the Chicago Federal Reserve Banks’ 2008 Payments Conference where this year’s topic was Payments Fraud: Perception versus Reality. Her observations are here; she makes the important distinction between fraud prevention and data security. There was ample discussion of PCI data security programs, their costs and benefits, and the status of […]

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A Report from the Federal Reserve Bank of Chicago’s 2008 Payments Conference by Linda Elliott I’ve just returned from the Chicago Federal Reserve Banks’ 2008 Payments Conference where this year’s topic was Payments Fraud: Perception versus Reality. The conference had good presentations on fraud perspectives in payments ranging from check processing to PayPal, mobile commerce, […]

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