Banking

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  • Who Moved My Interchange!?

    Gonzobanker.com
    Ryan Rackley
    30 Apr 2012 | 5:00 am
    “Imagining myself enjoying new cheese even before I find it, leads me to it.” –Spencer Johnson Things are certainly changing fast in our industry these days, and bankers may not fully recognize a certain unseen hand at their Cheese Station. While most bankers are well-versed in the impact of the Durbin amendment on large banks, there are market forces at play right now that will dramatically affect the unregulated issuers as well. Unless bankers take action now, it won’t be long before they are all saying, “Who Moved My Interchange!?” Through our mother ship Cornerstone Advisors,…

  • SEPA will survive even if the euro does not

    Most recent posts | swiftcommunity.net
    16 May 2012 | 4:05 am
      We've just completed our annual survey on SEPA and the PSD, which will be released via a...

  • Chasing Fees, Banks Court Low-Income Customers

    NYT > Banking Industry
    25 Apr 2012 | 11:00 pm
    More large banks are aggressively pursuing low-income customers with products that can carry high fees and are largely untouched by consumer protections.

  • Simple Releases First Mobile Banking App, Hits #13 in Finance Category of iPhone App Store

    NetBanker
    Jim Bruene
    15 May 2012 | 9:02 pm
    The much-anticipated launch of the first truly virtual consumer bank is fast approaching. How do we know? From its tweets, of course (see inset). Customers who joined the wait list in 2010 are being told publically that they will receive invites "before spring is over." Others are being told "early summer," "mid-to-late summer," "early fall" and "fall."  Based on those responses, it looks the company plans to work through its entire 100,000 wait list within the next 6 months. A critical piece of the grand opening is pushing the Simple mobile app past the gatekeepers at Apple. That…

  • Jumio Releases Card Capture Scanning SDK for Mobile Apps

    Payments News - from Glenbrook Partners
    Payments News Editor
    16 May 2012 | 1:41 pm
    Jumio has announced the release of its Mobile Software Development Kit (SDK). The Netswipe Mobile Software Development Kit (SDK) is a fast and easy way to implement reliable credit card capturing into mobile apps. There is no need for extra hardware, and it is available for iOS. Android will follow soon. Jumio also announced they are giving away $5 Million worth of scanning fees to support young Start-ups and the developer community.
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    Gonzobanker.com

  • Who Moved My Interchange!?

    Ryan Rackley
    30 Apr 2012 | 5:00 am
    “Imagining myself enjoying new cheese even before I find it, leads me to it.” –Spencer Johnson Things are certainly changing fast in our industry these days, and bankers may not fully recognize a certain unseen hand at their Cheese Station. While most bankers are well-versed in the impact of the Durbin amendment on large banks, there are market forces at play right now that will dramatically affect the unregulated issuers as well. Unless bankers take action now, it won’t be long before they are all saying, “Who Moved My Interchange!?” Through our mother ship Cornerstone Advisors,…

  • ‘Just Give Me a Second Chance’ – The Demographics of Bank Customers 2014-2024

    Scott Sommer
    19 Apr 2012 | 6:26 pm
    As banks and credit unions start considering logistics, booking hotels, and pontificating chicken or beef menu options for their upcoming summer and fall strategic planning sessions, I’d like to offer what I think will shape up to be a key strategic issue that should be on the agenda. We have a banking model that frankly hasn’t changed all that much in the past 50 years. A key driver of that has been a fairly steadily rising economy with some modest ups and downs. Incomes have grown, the job market has expanded, and increased access to education has driven a growing middle class. The…

  • A Recipe for Performance Management Success

    Eric Weikart
    11 Apr 2012 | 6:53 pm
    Earlier this month, my wife and I took a few days off and went to Tuscany to enjoy some great wine and food – along with some much-needed relaxation. During our stay, the owner of our villa offered cooking lessons. My wife was not about to turn down the offer, and I was certainly not going to stop her. Every night, the food seemed to jump off the plate and tasted incredible. What was so amazing was the simplicity in the recipes. For example, the unbelievable homemade pasta was a simple mixture of just flour and eggs … the tomato sauce was basically some crushed tomatoes and a few fresh…

  • An Open Letter to the ‘C’ Team – Why You Need to Push an ECM Strategy Now

    Terence Roche
    4 Apr 2012 | 3:55 pm
    “I like work. It fascinates me. I sit and stare at it for hours.” –Oscar Wilde Greetings, “C” team members. And, just to clarify, the “C” team is not the group of employees at your bank who managed to maintain this letter as a grade point average from grade 9 and beyond (although some of us, given the level of ingestion, socializing and other non-educational activities we undertook during that time, are actually pretty amazed we averaged even this). No, this offering is for the CEO, CFO, CIO and other “C” level executives who have the opportunity and responsibility to…

  • The Information Technology Professional

    Michael Croal
    22 Mar 2012 | 4:45 pm
    In the late ’80s, as a young CICS/COBOL programmer fresh out of Millsaps College, I wrote an article for the company newsletter titled, “The Information Age.” Since then I have been fortunate to stay close to information. Close enough to feel the pulse some might say. Still true today, information is the lifeblood of the organization. However, while the blood bank can certainly use your semi-annual pints, your own bank is hemorrhaging information all over the place. It reminds me of the cartoon character after having fallen into the cactus just following a robust thirst quenching. When…
 
 
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    NetBanker

  • Simple Releases First Mobile Banking App, Hits #13 in Finance Category of iPhone App Store

    Jim Bruene
    15 May 2012 | 9:02 pm
    The much-anticipated launch of the first truly virtual consumer bank is fast approaching. How do we know? From its tweets, of course (see inset). Customers who joined the wait list in 2010 are being told publically that they will receive invites "before spring is over." Others are being told "early summer," "mid-to-late summer," "early fall" and "fall."  Based on those responses, it looks the company plans to work through its entire 100,000 wait list within the next 6 months. A critical piece of the grand opening is pushing the Simple mobile app past the gatekeepers at Apple. That…

  • Feature Friday: Wow! More City Bank Texas Mobile Controls for Debit Cards

    Jim Bruene
    10 May 2012 | 11:10 pm
    Luckily, I ran into Jim Simpson, SVP IT at City Bank Texas, at Finovate Tuesday, or I might have missed his bank's significant new app update this week. I am so impressed with what they are doing down there in Lubbock. First, it was the debit card on/off switch a few months ago. And now they just added three new control switches (see inset): Increase daily withdrawal limit at the ATM Increase daily debit card purchasing limit Allow foreign transactions All three controls temporarily increase limits so customers can easily approve their own authorization exceptions (within limits). …

  • FinovateSpring 2012 Best of Show Winners Named

    Jim Bruene
    10 May 2012 | 2:11 am
    Our fifth annual FinovateSpring in San Francisco concluded a few hours ago. After seeing 63 demos over two packed days, the audience voted for their three favorites each day. The top seven overall were named Best of Show (see notes). The winners (in alphabetic order): BehavioSec for its new security layer based on user typing/swiping patterns BillGuard for its card charge dispute platform, BillGuard FI Dwolla for its FISync service to enable banks to originate real-time payments iQuantifi for its new financial planning & advice tools MoneyDesktop for its PFM platform and integrated…

  • FinovateSpring 2012 Kicks Off Tomorrow

    Jim Bruene
    7 May 2012 | 10:55 pm
    It turns out that setting up for 1,200 attendees takes a bit more time than we had anticipated. But everything is set, the demos are all working, and we are ready to kick things off Tuesday morning at 9 AM sharp. You can read all about the 64 product launches during the next two days at our Finovate blog. And we'll be tweeting away from @finovate while hundreds of others do the same with the #finovate hashtag. To everyone joining us in San Francisco, and for all that are following from afar, we truly appreciate it!

  • Feature Friday: Ally's Mobile Cash-Bank Finder & Call-Center-Hold-Time Meter

    Jim Bruene
    4 May 2012 | 1:02 pm
    Ally Bank jumped into the mobile fray launching a pair of apps last week, one for customers with account access, and the other an "ATM & Cash-Back Finder," the anyone can use. The apps are well designed, as you'd expect from a direct bank with 1 million customers and $30 billion on deposit (note 1). But there were two novel features worth highlighting: 1. Real-time wait time in the call center: The mobile app contains a very prominent real-time indicator of just how long you'll be on hold if you call Ally Bank. I've already raved about the Website version of this feature, so I…
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    Payments News - from Glenbrook Partners

  • Jumio Releases Card Capture Scanning SDK for Mobile Apps

    Payments News Editor
    16 May 2012 | 1:41 pm
    Jumio has announced the release of its Mobile Software Development Kit (SDK). The Netswipe Mobile Software Development Kit (SDK) is a fast and easy way to implement reliable credit card capturing into mobile apps. There is no need for extra hardware, and it is available for iOS. Android will follow soon. Jumio also announced they are giving away $5 Million worth of scanning fees to support young Start-ups and the developer community.

  • Cardlytics Brings Transaction-Driven Marketing to Credit Card Portfolios

    Payments News Editor
    16 May 2012 | 1:31 pm
    Cardlytics has announced the release of “Cardlytics for Credit,” an integrated suite of technology and services that enable financial institutions to effectively leverage transaction marketing to strengthen relationships with their credit card customers. “Until now, the broad category of ‘merchant-funded rewards’ for credit cards has simply not produced meaningful results for retailers or banks,” said Scott Grimes, CEO of Cardlytics. “Because of our reach into 70 million households’ checking accounts and their associated high transaction debit card volume and frequent online…

  • Digital River to Provide Developers with Access to Cloud Commerce APIs

    Payments News Editor
    16 May 2012 | 1:26 pm
    Digital River has announced 'Digital River Connect' to provides developers with access to its Global Commerce and Commerce Express application programming interfaces (APIs) and enables commerce-as-a-service (CaaS). “An open and accessible API is a critical component of today’s digital ecosystems,” said James Gagliardi, Digital River’s vice president of product and innovation. “We’ve designed the Digital River Connect technology from the ground up to set the standard in this area. It combines the power and capabilities of our enterprise-level solutions with a new, easy-to-use…

  • TSYS Unveils Its Agenda for Connected Mobility

    Payments News Editor
    16 May 2012 | 1:23 pm
    TSYS announced its agenda for connected mobility to support commerce for digitally active consumers — those accustomed to navigating their daily lives with smart phones, tablets, game systems, electronic readers and computers. “Two years ago the devices of choice were smart phones; now they are tablets. Regardless of the devices used tomorrow, our focus on people-centered payments paves the way for this agenda, with functionality to support mobility, applications and commerce across any device,” said Paul Bridgewater, group executive of Global Product, TSYS. “Today’s consumers…

  • Headline News - May 16, 2012

    Payments News Editor
    16 May 2012 | 1:16 pm
    On the web: Google Wallet Now Available on Four NFC Handsets - Wired.com On the wires: VeriFone Media Brings Sky News into London’s Taxis ZipZap Launches Cascading Payments Solution for Online Merchants SafetyPay Introduces Cash Payment Option for eCommerce Merchants MyClear Appoints MOLPay as its Acquirer for Online Merchants (Malaysia) Smart Card Alliance Expands Industry Collaboration With Formation of Mobile and NFC Council POS Portal to Distribute Ingenico POS Devices for EMV and NFC Mobile Payments Wolfram Releases New Computational Software Platform for Finance Note: Headline News is…
 
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    The Bankwatch

  • “Canadian NFC Mobile Payments Reference Model” released by Canadian Bankers Association

    Colin Henderson
    15 May 2012 | 10:33 pm
    The Canadian Bankers Association have released an important document outlining standards for integrating mobile payments into the Canadian Payments networks.  Its reasonably detailed at 133 pages.  Page 40 outlines Square requirements for electronic receipts, suggesting some reasonable new thought has gone into this.  It has flow charts for standard payments, refusals, and even loyalty points treatment.  There is some security stuff including key management. The flow charts that outline how cards would integrate into the current payment networks are well laid out.

  • The infallible JP Morgan finally encounters the same loss problems as the rest

    Colin Henderson
    13 May 2012 | 11:40 pm
    Back in April there was much talk about Bruno Iksil, Head Trader at the JP Morgan CIO (Central Investment Office) and how they were moving into proprietary ‘house’ trading.  Egan Jones Downgrades JP Morgan The iconoclastic rating agency, and fully recognized NRSRO to the dismay of some tabloids, which just refuses to play by the status quo rules, and which downgraded the US for the second time last Friday, to be followed soon by other rating agencies as soon as US debt crosses the $16.4 trillion threshold in a few short months, has just done the even more unthinkable and downgraded…

  • Dwolla offer real time money transfer for banks | but is this this the right model?

    Colin Henderson
    9 May 2012 | 8:49 pm
    It was just a week ago when I wrote an open question to banks; “Banks – Why can we not have same day money transfer?” Well today I came across new Dwolla offerring they name FiSync.  They characterise the new service as real time money transfer through their cloud service and are oferring it free to banks. Unfortunately, and sorry Ben, but I predict this will not succeed at least not as currently offerred.  The reason banks won’t accept as offerred is one word – float. The post notes the value of ACH transactions annually at 33.9 trillion.  If we run that number at…

  • Sometimes friction has a purpose

    Colin Henderson
    7 May 2012 | 12:35 am
    America has introduced a JOBS act designed to remove many of the truth and informational requirements that funding requests must address under securities law.  The title here is the final phrase in Esthers piece and it is a deep one. This article is a highly insightful piece from Esther that captures the essence of the role and responsibility of government as it applies to the free marketplace.  The words “unintended consequences” leap off the page here.  It is far to easy to design a solution that apparently attacks the problem directly but in fact has effects that were not even…

  • Banks – Why can we not have same day money transfer?

    Colin Henderson
    6 May 2012 | 10:45 pm
    FSA managing director Martin Wheatley spoke at the Chartered Institute of Bankers May 4th, 2012 and it is something of a clarion call to the financial services industry everywhere.  He raises gaps in bank service levels based on complaints received at the FSA. But there is nothing new here and the example of sending money for receipt by next day exemplifies his speech. Rebuilding trust and confidence in banks and bankers | FSA Martin Wheatley Even where we have brought issues to the attention of industry, such as the requirement to ensure payments reach the payee’s account by the end of…
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    Commercial Banking News - Commercial Banking News Headlines | Bizjournals.com

  • Facebook co-founder may save $67M on taxes... Skechers to pay $40M to settle false-ad claims

    16 May 2012 | 2:12 pm
    Business news from around the Web: Facebook co-founder may save $67 million on U.S. tax bill (Bloomberg) Facebook increases number of shares for IPO (The New York Times) Skechers will pay $40 million to settle false-ad claims (USA Today) Fed keeps door open to more stimulus (Fox) FBI confirms JPMorgan probe (Reuters) Auto group: E15 alcohol fuel can wreck engines (USA Today)

  • State Street annual meeting brings 'Shareholder Spring' to Boston - sort of

    16 May 2012 | 2:09 pm
    It's been a rough couple of months in London boardrooms, as directors and executives of major UK companies have had to defend pay plans amid carnivalesque public protests and unusual shareholder votes at their annual meetings. On Wednesday, directors at Boston's State Street Corp. (NYSE: STT) got a taste of what pundits are calling the "Shareholder Spring." Reuters writer Tim McLaughlin (a BBJ alum), reported protesters disrupted the State Street annual shareholder meeting, interrupting State Street...

  • Skechers settles false advertising suit

    16 May 2012 | 2:05 pm
    Manhattan Beach's Skechers USA Inc. shoe company has settled a lawsuit accusing the company of false claims that its “rocker-bottom” shoes promote weight loss and muscle strength. The company has also allocated as much as $40 million for consumer refunds nationwide. Details about obtaining a refund are available on the Federal Trade Commission’s website. The FTC, the District of Columbia and 44 attorneys general nationwide were involved in the lawsuit. Skechers chose not to fight the lawsuit,...

  • Ex-Im Bank reauthorization passes Senate, moves to Obama

    16 May 2012 | 2:02 pm
    The U.S. Senate reauthorized the Export-Import Bank charter and increased its credit exposure limit — and after months of delay and debate, President Barack Obama is expected to sign the legislation, putting it into effect. The Business Journals’ Washington Bureau office reported the Senate passed the Ex-Im Bank bill May 15 on a 78-20 vote. Earlier this month, the bill passed the House of Representatives. After the President signs the bill — which he is expected to do — Ex-Im Bank, a federal...

  • JGB Bank owner buys HSBC’s South American division

    16 May 2012 | 2:02 pm
    The owner of Doral-based JGB Bank has agreed to purchase control of HSBC Holdings’ South American operations for $400 million, according to multiple media reports. Grupo Gilinski, led by Colombian banker Jaime Gilinski, had its GNB Sudameris agree to buy the HSBC operations in Colombia, Uruguay, Peru and Paraguay. The deal for the 62 branches and $4.4 billion in assets should close in the first quarter of 2013. Gilinski’s JGB Bank is a separate entity from his South American bank, and it is...
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    Investment Banking News - Investment Banking News Headlines | Bizjournals.com

  • Facebook co-founder may save $67M on taxes... Skechers to pay $40M to settle false-ad claims

    16 May 2012 | 2:12 pm
    Business news from around the Web: Facebook co-founder may save $67 million on U.S. tax bill (Bloomberg) Facebook increases number of shares for IPO (The New York Times) Skechers will pay $40 million to settle false-ad claims (USA Today) Fed keeps door open to more stimulus (Fox) FBI confirms JPMorgan probe (Reuters) Auto group: E15 alcohol fuel can wreck engines (USA Today)

  • State Street annual meeting brings 'Shareholder Spring' to Boston - sort of

    16 May 2012 | 2:09 pm
    It's been a rough couple of months in London boardrooms, as directors and executives of major UK companies have had to defend pay plans amid carnivalesque public protests and unusual shareholder votes at their annual meetings. On Wednesday, directors at Boston's State Street Corp. (NYSE: STT) got a taste of what pundits are calling the "Shareholder Spring." Reuters writer Tim McLaughlin (a BBJ alum), reported protesters disrupted the State Street annual shareholder meeting, interrupting State Street...

  • Skechers settles false advertising suit

    16 May 2012 | 2:05 pm
    Manhattan Beach's Skechers USA Inc. shoe company has settled a lawsuit accusing the company of false claims that its “rocker-bottom” shoes promote weight loss and muscle strength. The company has also allocated as much as $40 million for consumer refunds nationwide. Details about obtaining a refund are available on the Federal Trade Commission’s website. The FTC, the District of Columbia and 44 attorneys general nationwide were involved in the lawsuit. Skechers chose not to fight the lawsuit,...

  • Ex-Im Bank reauthorization passes Senate, moves to Obama

    16 May 2012 | 2:02 pm
    The U.S. Senate reauthorized the Export-Import Bank charter and increased its credit exposure limit — and after months of delay and debate, President Barack Obama is expected to sign the legislation, putting it into effect. The Business Journals’ Washington Bureau office reported the Senate passed the Ex-Im Bank bill May 15 on a 78-20 vote. Earlier this month, the bill passed the House of Representatives. After the President signs the bill — which he is expected to do — Ex-Im Bank, a federal...

  • JGB Bank owner buys HSBC’s South American division

    16 May 2012 | 2:02 pm
    The owner of Doral-based JGB Bank has agreed to purchase control of HSBC Holdings’ South American operations for $400 million, according to multiple media reports. Grupo Gilinski, led by Colombian banker Jaime Gilinski, had its GNB Sudameris agree to buy the HSBC operations in Colombia, Uruguay, Peru and Paraguay. The deal for the 62 branches and $4.4 billion in assets should close in the first quarter of 2013. Gilinski’s JGB Bank is a separate entity from his South American bank, and it is...
 
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    Bank Lawyer's Blog

  • Let Me Just Clarify That Point

    Kevin Funnell
    15 May 2012 | 9:31 pm
    My post of the day before yesterday, concerning a "warranty" offered by Greenway Solutions that would cover a portion of losses suffered by a bank's business customer by reason of an online account takeover (provided the customer uses an approved online security product from a third-party vendor), caused Jon Meyer of Greenway Solutions to reach out to me. Jon wanted to discuss some points I raised in my story and to provide some clarification. After a very pleasant telephone conversation, I offered to supplement my previous post with additional information and clarification. As to my question…

  • Barney And The Spitz Make My Day

    Kevin Funnell
    14 May 2012 | 9:50 pm
    As I watched ABC's "This Week With George Stephanopoulos" yesterday morning, I assumed that most of the press attention would be given to Barney Frank's meltdown against Tennessee Republican Marsha Blackburn, and I think that expectation was verified by today's frequent postings online of the video of that session. I loved the way Barney accused Blackburn of filibustering him when it was obvious that he did 90% of the filibustering and didn't shut up until they literally cut him off and went to a commercial. Man, that guy makes for some great theater! If you've got the stomach for it, here's…

  • Filling A Gap With "Insurance"

    Kevin Funnell
    13 May 2012 | 9:41 pm
    It's tough enough, on a daily basis, to make sense of what a portion of the trade press has to say about banking legal issues, but it's doubly tough when they cite section numbers and laws that don't exist. A story last week in The American Banker (paid subscription required) made a very valid point, and one I've harped on previously: commercial bank customers don't have the same protections that are afforded consumers by Regulation E when it comes to unauthorized transfers from their accounts. The reporter for The American Banker asserts that commercial customers don't have protection in…

  • The Silver Lining Of Overdraft Fees

    Kevin Funnell
    10 May 2012 | 9:43 pm
    "I'm 1/32 'Elizabeth Warren' and it's that small sliver of me that compulsively exaggerates." Dennis Miller, via Twitter, May 10, 2012 Shannon Phillips, Deputy General Counsel of the Independent Bankers of Texas, wrote a blog post recently for Christopher Williston's The Missing Linc blog, entitled "Lies, Damned Lies and Statistics." With that title, you just know it has to be about the CFPB. Phillips is concerned about the CFPB cherry-picking statistics from a 2008 study conducted by the FDIC on overdraft programs and interpreting them for negative effect. Now, accusing the CFPB of…

  • Tales Of Wells Fargo

    Kevin Funnell
    9 May 2012 | 9:38 pm
    Wells Fargo just can't catch a break. Not only has the US Department of Justice told the bank that it might file a fair lending action against it for its allegedly discriminatory practices with respect to maintenance of REO, but the morons at MoveOn.org have decided to stage a public protest against Wells Fargo solely because they can't find Bank of America to kick around. As for the DOJ claims, they appear to be based upon consumer advocates' claims that the bank takes better care of foreclosed-upon real estate it owns in neighborhoods where white people live than it does in areas where…
 
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    DailyFinance.com

  • The Truth About JPMorgan Chase's $2 Billion Loss: It's No Big Whoop

    Rich Smith, The Motley Fool
    16 May 2012 | 9:10 am
    Filed under: JP Morgan Chase, Market News, BankingHey, Wall Street? Chicken Little called. She says you need to stop overreacting to JPMorgan Chase's $2 billion trading loss. I mean, it's not as if the sky were falling... For the past few days, investors have been mulling the implications of JPMorgan Chase's $2 billion derivatives trading loss, reported Friday. Ask some folks what it means, and they'll tell you it's proof positive we need to implement the Volcker rule. Others say that because JPMorgan (JPM) lost the money trying to "hedge" against market risk in Europe, the Volcker rule…

  • AIG vs. Bank of America: Banks Vie for 2012 Comeback King Title

    TheStreet.com
    2 May 2012 | 2:10 pm
    Filed under: American International Group, Bank of America, Market News, BankingBy Dan FreedTheStreet.com AIG (AIG) is on its way to eclipsing Bank of America (BAC) as the turnaround story of 2012 as it prepares to report earnings after Thursday's close. Analysts surveyed by Thomson Reuters are looking for AIG to earn $1.12 per share compared to $1.30 a year ago. Investor expectations have certainly been rising, adding fuel to the AIG turnaround narrative. AIG shares gained more than 10% in April following some bullish analyst reports, while Bank of America shares lost more than 15% on the…

  • Bank of America Spoof Website Shows the Joke Is on Us

    M. Joy Hayes, Ph.D., The Motley Fool
    1 May 2012 | 3:25 pm
    Filed under: Bank of America, Banking, Consumer AllyPranksters got the better of Bank of America recently, but the facts highlighted by the prank won't leave you laughing. Just one day before Bank of America (BAC) released its most recent earnings report, the activist group "Yes Men" launched a fake Bank of America website called "Your Bank of America." These merry pranksters aimed to show that, despite massive bailouts funded by American taxpayers, bank executives are still putting their own interests above those of their customers. So, the joke's on us, they argue, for continuing to…

  • Either a Borrower or a Lender Be: Why P2P Lending Keeps Growing

    Ross Kenneth Urken
    1 May 2012 | 12:35 pm
    Filed under: Credit, BankingFrom Kickstarter to Crowdtilt, crowdfunding is all the rage these days as a method for financing large undertakings and projects, especially those of an artistic variety. But what if instead of convincing others to help you make the next great mumblecore indie film, you could use crowdfunding to deal with something both more mundane and more pressing ... like your credit card debt? After all, it's not just starving artists who could get by with a little help from their friends. Now, it's unlikely that random people are just going to give you the money to float you…

  • Online and Unbanked? Walmart.com Lets You Pay With Cash

    Barbara Thau
    30 Apr 2012 | 10:25 am
    Filed under: Wal-Mart Stores, Banking, ShoppingIf you don't have a bank account, Walmart wants your business. In recent months, the world's largest retailer has expanded its inexpensive check cashing service, made it easy for the unbanked to cash their tax refund checks, and given them access to plastic with its cheap prepaid debit cards. Now, Walmart (WMT) wants to make shopping online simpler for the many Americans who don't have a credit card or checking account by giving customers the option of paying in cash for online orders. Via the "Pay with Cash" program, launched last week, shoppers…
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    About.com Banking / Loans

  • Poorest Customers Targeted for High Fees

    10 May 2012 | 4:23 am
    Banks are increasingly targeting poor consumers; consumer advocates say the main motivation for doing so is the extremely high fees that low-income customers generate. Banks argue that they're helping the "unbanked," but the services they're using don't look very different from what the unbanked would otherwise use (payday loans, prepaid debit cards with high fees, etc).  In some cases, customers would benefit from the bank's simple checking account, but employees highlight more expensive products instead....Read Full Post

  • Medical Bills can Ruin Your Credit

    8 May 2012 | 4:05 am
    When you think of your credit, you probably assume that it's just about any loans that you've used. By now, you know that your job and income are not part of a credit score calculation....Read Full Post

  • Photos of New, Smaller ATM Card Skimmer

    2 May 2012 | 1:33 pm
    Card skimmers steal your information when you put your card into any device. Whether you're using an ATM or paying for gas at the pump, your card number is at risk....Read Full Post

  • Financial Products Should Fit Behavior

    30 Apr 2012 | 3:40 am
    The universe of banking products continues to get more and more confusing. How can you choose which products and services are best? One way to do it is to consider your behavior and your habits. Where are you in life and what do you need from a bank? Students and retirees have different needs, and they'll probably use different bank products....Read Full Post

  • Financial Health = Overall Health

    26 Apr 2012 | 9:56 am
    Now there's another reason to keep your finances in order. Money Management International (MMI) has compiled results from several studies suggesting that better financial health could lead to better mental and physical health. An American Psychological Association survey found that money problems were a leading cause of stress. Other polls found that people with high "debt-stress" were more likely to suffer from ulcers, migraines, and other physical challenges....Read Full Post
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    Everyone's Blog Posts - Bank Innovation

  • That Itchy, Lending Feeling

    JJ Hornblass
    16 May 2012 | 8:00 am
    BOSTON -- Here's something you don't often see: graphs that show rising loan originations and declining credit losses. On subprime loans. But that's what you have at any number of lending ventures in the United States today. Consider GM Financial, General Motors's captive financing arm formerly known as AmeriCredit. In a presentation to fixed-income investors here yesterday, GM Financial reported: Higher net income; Higher originations volume; Portfolio growth;  Lower annualized net credit losses; Greater liquidity; and  Greater tangible net worth. In other words, everything -- and I mean…

  • Sponsored: 8 Reasons Why You Need Better Online Self-Service in 2012

    Josh Ernst
    15 May 2012 | 8:30 am
    Is 2012 the year that virtual assistant technology and other forms of next generation self-service dominate the customer service landscape? Here are 8 reasons why we think it’s time for online self-service to shine... 1 Your customers PREFER to self-serve, despite what you might think In their February 2012 article for Forbes.com(1), Harvard Business Review Press authors Frances Frei and Anne Morriss said it best: “Excellence is being great at the things your customers value most.” When it comes to online customer service, what customers value most is the ability to self-serve for quick…

  • Business - How is entrepreneurship important with regards to it?

    Kavin Matthews
    14 May 2012 | 11:01 pm
    The essence of entrepreneurship is the ability of individuals to take risks of trying something new. Now, if it is with regards to business entrepreneurship, it will have to be those individuals who are trying to establish a new business with some new ideas. Though entrepreneurship is related mainly with business, there is a major difference in being a businessman and an entrepreneur. Usually, an entrepreneur is more of an innovative person who manages a business much better than a businessman. Importance of entrepreneurship in business In order to succeed as a business, having…

  • Identity Theft Still On the Rise

    Identity Theft Speaker Robert Siciliano
    14 May 2012 | 10:45 pm
    For the 12th year in a row, identity theft complaints top the list of consumer complaints [PDF] received by the Federal Trade Commission. 15% of more than 1.8 million total complaints filed in 2011 involved identity theft. Javelin Strategy & Research estimates that nearly 12 million Americans were victims of identity theft in 2011—a 13% increase over 2010. Interestingly, but not surprisingly, Javelin attributes this increase to the proliferation of smartphones and the popularity of social media, in addition to several major data breaches resulting in tens of millions of records being…

  • IT Security: Preventing Insider Threat

    Identity Theft Speaker Robert Siciliano
    14 May 2012 | 10:31 pm
    A “Logic Bomb” isn’t really logical, it’s a virus, designed to take down your corporate network and disable existing systems that may monitor data, protect it, back it up or access it. A logic bomb is designed to multiply like any virus and spread throughout a network multiplying its effects. In a Wall Street Journal story an example provided, depicts an employee at Fannie Mae, knowing he is about to be fired commits an act of workplace violence by installing a logic bomb set to detonate almost 3 months after his departure. The detonation would have taken the organization off line for…
 
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    The Financial Brand: Marketing Insights for Banks & Credit Unions

  • Survey Shows Americans Ready For Digital Wallets In A Cashless Society

    Editor
    15 May 2012 | 3:09 pm
    A world without cash is coming. Financial institutions that aren’t ready with a strategy for the impending e-conomy could wind up as dinosaurs. Americans are increasingly eager for a purely digital economy as their use of cash continues to dwindle, according to the results of a survey released today by MasterCard. The survey, which asked over 1,000 participants for their two cents the growing trend towards a cashless society, gives a snapshot of Americans’ shifting views and behaviors with electronic payments. The Frustrations of Cash Cash is inconvenient. Most Americans experience…

  • Search Engine Marketing: Google Adwords Costs For Banks & Credit Unions

    Editor
    14 May 2012 | 2:01 am
    Every time someone types a financial related term into Google, there are banks and credit unions paying to have their ads placed atop the search results. The neat thing about Google AdWords is that you don’t pay until someone clicks. Some search terms only costs a few cents per click, while other more valuable and popular terms can run you a few bucks. With the Google AdWords interface, you can control how much you’re willing to pay per click, and how much you’re willing to spend every day. If you hit your spending limit, Google simply stops showing your ads. It’s a…

  • Targeting Gen Y: Rich Opportunities With Direct Marketing

    Editor
    11 May 2012 | 9:06 am
    By Margie Church, Pinpoint Direct Marketing Let’s face it: the broad span of ages in Gen-Y makes it challenging to build relationships. Some financial institutions have fantastic web pages directed toward teenaged youth, while others may focus on savings programs with prizes and activities at a younger group. But like many bank and credit union marketers, maybe you may be struggling to create a cohesive program that addresses the spectrum of ages and needs of this large and diverse group, not just one segment or two. How do you do it without driving yourself nuts, overwhelming your…

  • Peek Inside: Marketing At Australia’s Orange Credit Union

    Editor
    10 May 2012 | 2:01 am
    [Volunteers Needed! If you'd like to have your financial institution's in-house marketing department profiled on The Financial Brand, please complete the questionnaire here.] On 10th December, 1964, 19 mail employees met in the staff canteen to discuss forming a credit union. By 1971, Mail Employees Credit Union (as it was first named) had 1,000 members. In the early days, loans were limited to only £400 pounds. The credit union adopted its current moniker back in 1973. Name of Financial Institution: Orange Credit Union Area served: Orange in New South Wales, Australia Founded: 1964 Website:…

  • Bank Hosts Band Contest on Facebook, Winner Opens for Huey Lewis

    Editor
    9 May 2012 | 2:01 am
    At the Facebook page for Bank of the West, folks can nominate and vote on their favorite local bands. The winning band will get to perform the opening act for Huey Lewis & The News at Memorial Park during a concert the bank is sponsoring. The public is invited to nominate and vote for their favorite up-and-coming bands between May 1 and May 15, 2012. The contest is open to everyone across the U.S. Eligible bands must be solo acts or groups numbering no more than six. All members of the band must be over 18 years of age. Acts incorporating unsafe behavior, obscenity, lewdness,…
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    MyBankTracker.com

  • Mobile Wallet ISIS Announces Merchant Partners

    Willy Staley
    16 May 2012 | 1:34 pm
    In the near future no one at Aeropostale or Foot Locker will need to fuss with filthy, disgusting credit and debit cards when they wish to purchase clothing and footwear — they will be able to simply tap their phones to a point-of-sale terminal. ISIS has released a list of its partner merchants, both nationwide and in two test markets — Austin, Texas and Salt Lake City. ISIS, the mobile wallet application supported by AT&T, T-Mobile and Verizon, promises to “fundamentally transform how people shop, pay and save” by allowing users to tap their phones rather than…

  • Bank of America Begins Rollout of New Cash Back Program

    Simon Zhen
    16 May 2012 | 11:47 am
    Bank of America is delivering personalized deals and offers to customers in select states after bank employees piloted the program earlier in the year. Called BankAmeriDeals, the program aims to strengthen the relationship with existing customers and attract new business. Last week, Bank of America customers in Georgia, North Carolina and South Carolina began receiving cash-back offers when they viewed their accounts through online banking. “Since January, the program was tested by Bank of America associates nationwide,” said Tara Burke, a Bank of America spokesperson. The BankAmeriDeals…

  • New York City Passes Responsible Banking Law, Bloomberg Plans to Veto

    Willy Staley
    16 May 2012 | 9:04 am
    Jonah Wieland/flickr source New York City’s local legislature voted Tuesday to introduce a responsible banking law to its books, forcing banks that wish to do business with City Hall to demonstrate their commitment to investing in New York. Los Angeles’s city council did the same on Tuesday. This isn’t terribly uncommon for cities to pass legislation of this nature, but it is certainly notable when the Capitol of Capital does so, especially considering its billionaire mayor made his money in the financial services industry. Mayor Bloomberg isn’t at all happy with the…

  • U.S. Bank Reviews Fee Structure, Will Increase Overdraft Fees

    Simon Zhen
    16 May 2012 | 4:30 am
    Paul Heaberlin / Flickr source U.S. Bank plans to restructure some of its fees this year. In the initial stage, customers will face a slightly higher overdraft fee — requiring greater diligence when managing their spending to avoid a negative balance. Starting June 29, 2012, the fee for an overdraft item of $15 or less is $15; for an overdraft item greater than $15, the fee is $35 per occurrence. Currently, U.S Bank charges $10 per overdraft item that is $20 or less and $33 per overdraft item that is greater than $20. “This change is part of an overall review of our deposit fees…

  • JPM’s Trading Loss Highlights Regulatory Issues, Occupy Group Says

    Willy Staley
    15 May 2012 | 3:25 pm
    Sasha Kimel/flickr source JP Morgan Chase CEO Jamie Dimon frequently boasts about what he calls his fortress balance sheet — an impenetrable wall of well-hedged risk. But after a $2 billion trading loss stemming from a derivatives bet made in the bank’s London office, he may have to admit that his strategy isn’t quite as failsafe as he would like to think. More importantly, the law that is designed to prevent this sort of thing from happening to depository institutions, the Volcker rule, might be too weak to do its job. The bank’s Chief Investment Office, in London,…
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    Payments Views from Glenbrook Partners

  • Live Blogging Finovate Spring 2012 San Francisco

    Erin McCune
    8 May 2012 | 11:05 am
    Good morning! Gearing up for the two-day typing marathon that is Finovate. We’re at a huge venue this year (same as last year, apparently – someone else from Glenbrook was here then), a cavernous exhibition hall that has plenty of room for the 1200+ attendees; I can remember when there were 250 attendees. Congrats to Jim & Eric! Presentation Hall (looking toward front) Starting to fill up (looking toward the back) Here’s the line up: Jump ahead by Session: Session #1 Session #2 Session #3 Session #4 Session #5 Session #6 Session #7 Session #8 Best of Show SESSION #1…

  • Co-Dependence Between Banks and Their Technologists: Hampering Innovation

    Erin McCune
    7 May 2012 | 10:38 am
    Talking to banks and the biggest bank technology vendors at NACHA’s annual payments conference last week I couldn’t help thinking how they suffer from similar challenges. Big banks are hampered by their complex technology environment of legacy solutions with layers of more modern solutions built on top. Products and customer segments are managed in silos defined by old payment approaches that are no longer valid in our digital age. In these trying economic times lines of business and operational teams compete internally for resources and have many distractions (regulation, rounds of…

  • The Dawn of a New Era for Small Biz Banking? [Dispatch from NACHA Payments 2012]

    Erin McCune
    7 May 2012 | 10:31 am
    I was at NACHA’s annual payments conference last week and the most interesting things I heard and saw had to do with small business banking and payments, a long suffering, underserved segment of the market. There’ve been glimmers of hope for small business off and on over the years but I haven’t witnessed a groundswell of interest or observed this many developments simultaneously. Small businesses are traditionally ill served because the consumer platform is inadequate and treasury management solutions are overkill. They are stuck in the middle, with too few features or way too much…

  • Who We’re Watching in Payments 2012

    Russ Jones
    6 May 2012 | 8:01 pm
    What do eBay, Google, and Facebook all have in common? Sure, they all dominate their respective categories. And, yes, they all are hugely ambitious. Plus they all have demonstrated the ability to invent new markets. The other shared trait, in case you hadn’t noticed, is they are all in the payments business. Not in the real payments business, you say. That’s right. They’re not switching transactions between banks. Heavens no. They’re too busy working out on the edge of the ecosystem, delivering payments “dial tone” to companies that just want to get paid.

  • The NFC Debit Challenge

    Carol Coye Benson
    27 Apr 2012 | 7:00 pm
    I was in Washington this week for client meetings and to attend an FTC conference on mobile payments. At the conference, in addition to many regulatory lawyers and consumer protection advocates, there were the usual mobile payments suspects: Visa, MasterCard, Google, Isis, Intuit, etc., as well as a host of startups: LevelUp, Dwolla, Boku, and others. American Express, PayPal, and Square were missing. I gave an overview talk on mobile payments, and had to sum up, in a few slides, the state of NFC payments – for a crowd that included many unfamiliar with the topic. I had listed the…
 
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    BBR - News

  • ISE, AlphaClone to license hedge fund position replication index

    16 May 2012 | 7:51 am
    International Securities Exchange (ISE) and AlphaClone have partnered to license and promote the hedge fund position replication index, the AlphaClone Hedge Fund Long/Short Index.

  • Northern Trust names head of Middle East

    16 May 2012 | 7:29 am
    Northern Trust, a US based provider of asset management services, has named Sheldon Woldt as head of the Middle East.

  • Goldman Sachs acquires Dwight Asset Management

    16 May 2012 | 4:54 am
    Goldman Sachs Asset Management (GSAM) has acquired Vermont-based stable value money manager Dwight Asset Management from Old Mutual Asset Management for an undisclosed sum.

  • Evertec reports 9% rise in Q1 revenues

    16 May 2012 | 4:46 am
    Spanish payment processor Evertec reported that its revenues for the first quarter of 2012 rose by 9% to 82.5m compared to revenues of $75.8m during the corresponding quarter last year.

  • Canada introduces mobile payment guidelines

    16 May 2012 | 4:43 am
    Canadian Bankers Association (CBA) has launched a set of voluntary, secure, open guidelines, called ‘Mobile Reference Model’, for the development of mobile payments at point-of-sale in Canada.
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    The Principled Achiever

  • Making GRC Personal

    Clark Abrahams
    9 May 2012 | 4:33 pm
    Users of software vary in job responsibilities and also in focus.  In the parlance of software developers, users are commonly categorized as representing a particular persona, based on their business role in an organization.  In the case of enterprise GRC solutions, some examples of common persona include risk managers, compliance [...]

  • GRC solution can speed the achievement of objectives through collaboration

    Clark Abrahams
    8 May 2012 | 4:42 pm
            Today marks the announcement of the latest release of the SAS® Enterprise GRC solution at the SAS-sponsored Premier Business Leadership Series.  The main focus of GRC, short for governance, risk and compliance, is best articulated by the Open Compliance and Ethics Group as:  The reliable achievement of [...]

  • High-performance analytics is opening new frontiers

    Clark Abrahams
    2 Apr 2012 | 5:13 pm
    Last week I traveled to Orlando to attend the 20th High-Performance Computing Symposia (HPC), part of the SCS Spring Simulation Multi-conference (SpringSim'12) in cooperation with ACM/SIGSIM.  This HPC track was organized by General Chair Dr. Gary Howell, NC State University and Program Chair Dr. Steven Seidel, Michigan Technological University.  It [...]

  • Global perspectives on risk from some good minds

    Clark Abrahams
    18 Jan 2012 | 4:01 pm
    There were many different perspectives and ideas shared at the recent Ri$kMinds event. There were numerous notable quotes from regulatory and banking executives, such as:  Concerning financial innovation: "We need a more formal process to distinguish healthy innovation versus arbitrage" -- Jose Maria Roldan, Banco De Espana Concerning safety & [...]

  • Quality information for the Board

    Clark Abrahams
    14 Oct 2011 | 4:15 pm
    Boards of Directors certainly do care about the quality of the information they receive from the business.  They must have confidence that comes from knowing that the information managers provide to them has been sourced and delivered through a reliable, validated, and easily traceable process.  Accuracy of the information is [...]
 
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    PaymentsAPI.com

  • IP Commerce Launches New Payments Solution for Crowdsourcing and Other Multi-Party Payments Services

    Donne
    10 May 2012 | 5:00 pm
    PRESS RELEASE: IP Commerce® Introduces Multi-Party Payments – Expanding Open Platform Capabilities for Retailers and Software Providers San Francisco, California – May 8, 2011:   IP Commerce announces an innovative new Multi-Party Payments solution during the FinovateSpring 2012 conference. Today, IP Commerce announced the immediate availability of their new Multi-Party Payments (MPP) Commerce Playlist – a powerful rules-based engine designed to streamline and simplify the collection and disbursement of funds across multiple parties Developed to serve the growing convergence of…

  • PRESS RELEASE: IP Commerce Closes $20.7 Million Investment from Intel Capital and Existing Investors

    Donne
    16 Sep 2011 | 12:03 pm
    The following press release was authored internally by Tyler Hannan, Platform Evangelist (see contact info. below) and published on September 8, 2011. DENVER–(BUSINESS WIRE)–IP Commerce announced today [Sept. 8, 2011] that it has raised $20.7 Million in growth capital. The funding round was led by Intel Capital, with participation from existing investors Meritage Funds, Venrock, TTV Capital, Fifth Third Processing Solutions, LLC, and Iron Gate Capital. The funding will be used to further enhance the capabilities within the IP Commerce Platform and drive application developer…

  • Fraud Prevention, as a service: API Buzz

    Tyler
    13 Apr 2011 | 12:42 pm
    Recently, PYMNTS.com posted an interview with Retail Decisions entitled Fraudsters Take No Prisoners But Retail Decisions Can Strengthen Your Strategy for Prevention. The entirety of the interview is just under 10 minutes, and I would encourage anyone who has interest in this topic to set aside the brief time required to listen. In this interview, when asked about the delivery of fraud prevention as a service vs. an in-house solution, Carl Clump, CEO of ReD, gave a list of benefits to leveraging a service provider such as ReD (these are paraphrased): Retailers are not fraud experts, and…

  • Building Developer Communities: Perspectives From The Platform

    Tyler
    30 Mar 2011 | 3:58 pm
    If the Messages From The Edge series is about translating, and communicating, the requirements of the software development community…then, perhaps, you will allow me a bit of leeway in interpretation in this post. What does it truly “mean” when someone states they have developed an “API strategy”? What do you actually desire from exploring Open APIs for Payments? In some situations it is a “me too” response to industry trends. In others, there is a desire to enable innovation through partnership with the software development community. But the…

  • Commerce Logic In The Cloud: Messages From The Edge

    Peter
    23 Mar 2011 | 4:40 pm
    You can tell that a descriptive term, used in technical architectural implementation and design, has reached mainstream when it is featured in television commercials. “The Cloud” In researching the term, you will find references to several primary terms: •    Cloud Computing •    Software-as-a-Service (SaaS) •    Infrastructure-as-a-Service (IaaS) •    Platform-as-a-Service (PaaS) These terms, while interesting discussions in and of themselves, are (simply) references to implementation methodologies. So, what then, is the importance of the “cloud” to a software…
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    Bank Nerd

  • Introducing the New Scotia iTRADE App

    Sensei
    15 May 2012 | 1:00 pm
    Just over a month ago, Scotiabank announced that they would be launching a Scotia iTRADE mobile trading app. This app will give customers who manage their own investments the ability to make equity and option trades whenever and wherever they want from their smartphones. That said, Scotiabank has launched their Scotia iTRADE mobile trading app, giving customers exactly what they have been looking for in terms of making trades on the go. What does the new Scotia iTRADE app do? The mobile version of its popular online trading service will allow customers to get their investing done beyond…

  • TD Launches Special Promotion GIC Rates

    Sensei
    14 May 2012 | 1:57 pm
    Toronto Dominion Bank (TD) is known for its customer service, winning the J.D. Power and Associate award for customer service among the big banks. In my opinion, TD also launches some great promotions that should be taken advantage of. A recent promotion TD launched is giving $150 for anyone who switches to them, although you will need to open up a particular bank account (which does cost money) but if you need the services offered, then it’s a win – win in our books. That said, TD has once again started a new promotion, in fact it only launched 2 days ago (May 12th). What is the new…

  • Best of the Best: TGIF #3

    Sensei
    11 May 2012 | 12:41 pm
    It is the end of another week; time just seems to fly nowadays. One thing I am particularly happy about is the weather. It is a beautiful day outside today; not like the Wednesday where I think I saw hail hit my car. Either way, as usual, as we are at the end of another week we have BankNerd’s Best of the Best. I am highlighting article that are from the blogosphere that I think need to be read by everyone. Our Best of the Best RBC has launched a newly enhanced RBC Mobile App. The key feature about this updated app is the fact that investing services are now included! CIBC has been named…

  • RBC Launches Newly Enhanced RBC Mobile App – Investing Services Included!

    Sensei
    10 May 2012 | 11:23 am
    The time a lot of RBC Direct Investing clients have been waiting for has finally come. RBC Direct Investing is now offering investors the convenience of trading through the newly enhanced RBC Mobile App! The new functionality of RBC’s mobile app will offer RBC Direct Investing Clients to have access to a full range of investing services for the iPhone and iPod touch devices. What will I be able to do on the newly enhanced RBC Mobile App? One thing we have to keep in mind is that these enhancements are only for the iPhone and iPod touch devices; they will be the only platforms that will be…

  • CIBC Named the Strongest Bank in North America!

    Sensei
    9 May 2012 | 12:24 pm
    I have been extremely busy with work and school, and feel like that I have been slacking in the news department, especially when it is such great news as what bank was name the strongest in Canada! Well my apologies to everyone, and especially to the bank who received the award. Without further delay, the bank that was named the strongest bank in not only Canada, but in North America by Bloomberg Markets magazine is none other than Canadian Imperial Bank of Commerce (CIBC)! CIBC has been recognized as the 3rd strongest bank in the world as well! This title is the second time CIBC has been…
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    Bank Nerd

  • Introducing the New Scotia iTRADE App

    Sensei
    15 May 2012 | 1:00 pm
    Just over a month ago, Scotiabank announced that they would be launching a Scotia iTRADE mobile trading app. This app will give customers who manage their own investments the ability to make equity and option trades whenever and wherever they want from their smartphones. That said, Scotiabank has launched their Scotia iTRADE mobile trading app, giving customers exactly what they have been looking for in terms of making trades on the go. What does the new Scotia iTRADE app do? The mobile version of its popular online trading service will allow customers to get their investing done beyond…

  • TD Launches Special Promotion GIC Rates

    Sensei
    14 May 2012 | 1:57 pm
    Toronto Dominion Bank (TD) is known for its customer service, winning the J.D. Power and Associate award for customer service among the big banks. In my opinion, TD also launches some great promotions that should be taken advantage of. A recent promotion TD launched is giving $150 for anyone who switches to them, although you will need to open up a particular bank account (which does cost money) but if you need the services offered, then it’s a win – win in our books. That said, TD has once again started a new promotion, in fact it only launched 2 days ago (May 12th). What is the new…

  • Best of the Best: TGIF #3

    Sensei
    11 May 2012 | 12:41 pm
    It is the end of another week; time just seems to fly nowadays. One thing I am particularly happy about is the weather. It is a beautiful day outside today; not like the Wednesday where I think I saw hail hit my car. Either way, as usual, as we are at the end of another week we have BankNerd’s Best of the Best. I am highlighting article that are from the blogosphere that I think need to be read by everyone. Our Best of the Best RBC has launched a newly enhanced RBC Mobile App. The key feature about this updated app is the fact that investing services are now included! CIBC has been named…

  • RBC Launches Newly Enhanced RBC Mobile App – Investing Services Included!

    Sensei
    10 May 2012 | 11:23 am
    The time a lot of RBC Direct Investing clients have been waiting for has finally come. RBC Direct Investing is now offering investors the convenience of trading through the newly enhanced RBC Mobile App! The new functionality of RBC’s mobile app will offer RBC Direct Investing Clients to have access to a full range of investing services for the iPhone and iPod touch devices. What will I be able to do on the newly enhanced RBC Mobile App? One thing we have to keep in mind is that these enhancements are only for the iPhone and iPod touch devices; they will be the only platforms that will be…

  • CIBC Named the Strongest Bank in North America!

    Sensei
    9 May 2012 | 12:24 pm
    I have been extremely busy with work and school, and feel like that I have been slacking in the news department, especially when it is such great news as what bank was name the strongest in Canada! Well my apologies to everyone, and especially to the bank who received the award. Without further delay, the bank that was named the strongest bank in not only Canada, but in North America by Bloomberg Markets magazine is none other than Canadian Imperial Bank of Commerce (CIBC)! CIBC has been recognized as the 3rd strongest bank in the world as well! This title is the second time CIBC has been…
 
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    Prepaid Debit Cards » Prepaid Debit Cards, Teen Card and Gift Cards — Everything You Need to Know

  • Chase Joins Ranks of Prepaid Card Issuers

    Tracy
    11 May 2012 | 9:26 am
    May 10, 2012 — Yesterday, JPMorgan Chase & Company (NYSE: JPM) announced that it will follow in suit with industry trends and attempt to capture more market share in the prepaid space. Following a turbulent national economic collapse and tougher federal regulation, many of the larger national banks like Chase are seeking new forms of revenue. Enter the Chase Liquid prepaid card. According to JPMorgan Chase, the new Chase Liquid card will be made available to the general public sometime mid-summer through around two hundred Chase retail branch banks. Typical of a prepaid debit card,…

  • Effects of the Durbin Amendment — Good For Prepaid Issuers?

    Kurt Johnson
    2 May 2012 | 6:02 am
    The Durbin Interchange rules went into effect in October 2011, after a heated battle and much lobbying on both sides. One of the arguments against the Durbin amendment was that it would hurt smaller banks (even though most banks with assets less than $10 Billion are “exempt”). A report released yesterday by the Federal Reserve may indicate the opposite — that exempt banks are benefitting from the Durbin amendment, thanks to two tier interchange. On May 1, the Federal Reserve published the results of an initial survey comparing the debit interchange fees charged by each…

  • Prepaid Technology Experts Team Up With Leading Prepaid Bank

    Tracy
    12 Mar 2012 | 1:06 pm
    Mar 12, 2012 – A subsidiary of The Bancorp Bank (NSDQ: TBBK) called The Bancorp Bank Payment Solutions Group announced today a partnership with Swift Prepaid Solutions where Bancorp will issue plastic prepaid debit cards through Swift’s innovative technology platforms. According to their website, Swift Prepaid Solutions are leading edge technology experts that continue to raise the bar for prepaid payment solutions. In addition to cutting edge technology, Swift devises unique and original solutions that drive new success in prepaid. Such prepaid solutions cover all four major…

  • Three New Extra Features Added to Prepaid Vision Visa(R) Cards

    Tracy
    22 Feb 2012 | 1:05 pm
    Feb 22, 2012 – Yesterday, PreCash, Inc., a national leader in payment processing services announced three new value-added features to intice more prepaid customers to their Vision Visa prepaid debit card. For many un-banked or under-banked customers who can not or will not use traditional checking accounts or credit cards, PreCash is offering extra services such as roadside assistance, optional interest bearing savings and cash back for gasoline purchases (see website for details and restrictions). According to the release, the added features are currently available to all current…

  • PayPal Offers New “Linked” Prepaid Debit Card

    Tracy
    14 Feb 2012 | 4:07 pm
    Feb 14, 2012 — GlobeNewswire today released that online payments guru, PayPal is venturing with prepaid goliath, NetSpend to offer a new General Purpose Reloadable prepaid debit card called the PayPal Prepaid MasterCard. A notable feature worth mentioning, is the cross-functionality or “linking” between the prepaid product and the renowned PayPal online payment portal. According to the release, not only will cardholders be able to spend transaction fee-free at retail merchants (there is a monthly fee), but also have full access to the online portal’s functionality and…
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    NFC Mobile Payment Industry News Blog

  • Digicel Deploys VeriFone mWallet Services for Innovative Biometric and NFC Mobile Money Wallet Solution

    John B. Frank - ePayment News
    16 May 2012 | 9:55 am
    VeriFone mWallet » Solution » mWallet MFS POS Gateway » Digicel Deploys VeriFone mWallet Services for Innovative Biometric and NFC Mobile Money Wallet Solution Effective mobile money wallet agent networks Mobile money wallets as a convenient means of retail payment Instant international money transfers direct from point-of-sale to mobile money wallets Mobile money wallet bill payments with convenience of a point-of-sale transaction Utilise NFC technology for payments in markets with low smartphone and card penetration Maximize incoming remittances and increase…

  • MasterCard ranks countries for 'Mobile Payments Readiness"

    John B. Frank - ePayment News
    16 May 2012 | 9:48 am
    Web7 new results for NFC Mobile Payment NFCNews | MasterCard ranks countries for 'Mobile Payments MasterCard (Photo credit: Wikipedia) Singapore, Canada, the United States, Kenya and South Korea have topped MasterCard's newly released Mobile Payments Readiness Index (MPRI), nfcnews.com/.../mastercard-ranks-countries-for-mobile-payme... Visa confirms mobile payments trial with Galaxy S3 at London Visa has confirmed that it will showcase mobile NFC payments at the London Olympics using Samsung's new Galaxy S3.econsultancy.com/.../9824-visa-confirms-mobile-payments-tri... COOPERATION Samsung and…

  • Deloitte Infographic on Mobile Payments Predicts Significant Growth

    John B. Frank - ePayment News
    16 May 2012 | 9:44 am
    An infographic representing data from a Deloitte report on mobile payments looks at the marketplace and predicts significant growth over the coming years.

  • Sweden's iZettle launches mobile card reader in the UK

    John B. Frank - ePayment News
    16 May 2012 | 9:42 am
    News7 new results for NFC Mobile Payment Rogers & CIBC Launch Mobile NFC Payment System Starting With BlackBerry 7 Devices BerryReviewby the BerryReview Team on May 16th, 2012 · Leave a Comment RIM just got a big vote of confidence in their home town with CIBC and Rogers Communication launching their new NFC based payment system starting with BlackBerrys only.See all stories on this topic »BerryReview The Adoption & Economics of Omni-Channel Retailing IT-Director.comThe goal here is a scenario whereby customers start to research purchases on their mobile 'phone, then go into a store…

  • 40% of Asia Pacific employees will be mobile workers by 2015

    John B. Frank - ePayment News
    16 May 2012 | 9:41 am
    Blogs8 new results for NFC Mobile Payment "Canadian NFC Mobile Payments Reference Model" released by CIBC Tower, Windsor, ON Canada (Photo credit: Wikipedia) By Colin Henderson"Canadian NFC Mobile Payments Reference Model" released by Canadian Bankers Association. leave a comment ». The Canadian Bankers Association have released an important document outlining standards for integrating mobile The Bankwatch Rogers and CIBC Launches NFC Credit Card Smartphone Payment By Gary NgBoth companies have announced this morning the launch of a joint mobile payment solution. Customers will soon be able…
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    Credit Card News

  • Young Adults Struggling To Manage Finances

    CreditCardsCo
    14 May 2012 | 10:50 am
    In these most modern of times, the young adults who are graduating from school or college are finding themselves leaving their educational establishments weighted down with debts.

  • Consumers Offer No forgiveness To Card Companies

    CreditCardsCo
    11 May 2012 | 10:41 am
    Do you recollect that moment of time when you decided to order all the gifts you needed for Christmas from Amazon.com, but there was a misunderstanding with the delivery...

  • Delta Sky Miles AmEx Is Good Loyalty Card

    CreditCardsCo
    10 May 2012 | 10:28 am
    Delta Sky Miles from American Express has taken the eminent prize for Best Loyalty Credit Card in the travel industry's twelve-monthly Freddie Awards.

  • Is Your Credit Causing Stress?

    CreditCardsCo
    9 May 2012 | 10:10 am
    Financial troubles of all types are a big cause of nervousness and worry for countless Americans.

  • Global Card Transactions On The Increase

    CreditCardsCo
    8 May 2012 | 10:41 am
    The Nilson Report's annual Global Credit Card Brands report has shown that globally, transactions on the top payment cards increased to 135.3 billion in 2011.
 
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    Credit Card Blog

  • Your Parents, Their Credit Card Debt

    creditcardsbay
    15 May 2012 | 3:45 pm
    Many adult children are unsure of what their parents' financial debt totals. Once they do delve in, they're finding overwhelming credit card debt.

  • 6 Tips For Handling Student Loan, Credit Card Debt

    Evita
    10 May 2012 | 2:33 pm
    It's a tough reality for graduating college students as they're leaving with both credit card debt and overwhelming student loans. Here are six things you can do right now to offset the burden.

  • Visa and MasterCard Announce Growth

    creditcardsbay
    8 May 2012 | 1:48 pm
    Many might not have been surprised that both Visa and MasterCard are reporting strong earnings, but they might be surprised to learn those earnings are in the double digits.

  • Credit Cards and Mortgages

    Evita
    3 May 2012 | 1:23 pm
    Ready to buy a new home? Check out the latest tips from FDIC before you call your realtor. They could make a huge difference in how well or how easy buying that home might be.

  • Why You Shouldn’t Underestimate PayPal

    creditcardsbay
    1 May 2012 | 1:28 pm
    If your PayPal account has never been hacked, here's what you should know about the company, its efforts of protecting you and how far it will go to serve that purpose.
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    Welcome to the Adaptu Community : All Content - All Communities

  • Money Lessons From Mom: How She Taught me to be a Financially Independent Adult

    Lauren LyonsCole
    7 May 2012 | 4:15 pm
    We learn many life lessons from our mothers, and a new study from T. Rowe Price indicates we probably learn quite a bit about money from them as well. Considering women make 85% of all consumer purchases, it makes sense that over half of kids report that they go to their mom with financial questions.  But most of us learn more about money by watching or doing rather than by asking. And while parents often talk to their children about the importance of saving, only 50% follow their own advice. My parents were unapologetic savers, and even though it annoyed us as kids, my siblings and I…

  • Life After College Giveaway Official Rules

    Editor Liz
    7 May 2012 | 12:59 pm
    Below are the offical contest rules for the Life After College Giveaway. 1. How to Enter:Adaptu LLC (Adaptu) invites you to participate in the Life After College Give Away. You may enter the Life After College Give Away (the Contest) by becoming a member of Adaptu here and commenting on this article, by following Adaptu and Jenny_Blake on Twitter and sharing your tip there as well with #lacgiveaway, or by sending an email to contest@adaptu.com, that includes your email address and a phone number where we can reach you in the body of the email, and with the words “Life After College…

  • 10 Questions for Life After College Author Jenny Blake and GIVEAWAY!

    Editor Liz
    7 May 2012 | 11:35 am
    We recently sat down with Jenny Blake, life coach and author of the book Life After College: The Complete Guide to Getting What You Want. The book features hundreds of tips, quotes, and coaching exercises to help grads and soon-to-be grads gain clarity, direction, and inspiration for every area of their lives.Read below to hear what Jenny had to say about her journey, mistakes she made, and things every college grad should do.  Scroll to the bottom to learn how you can win a free copy of Life After College! [Adaptu] Tell us a little bit about your background and how it resulted in…

  • Ask the Coach!

    David Ning
    23 Feb 2012 | 7:32 pm
    Do you have questions about budgeting or saving money? Or perhaps you just want to share your budgeting story with everybody. Just post a note below and I will do my best to answer your questions!

  • Work Study Program: Is it Right for You?

    chrisbi
    16 Jan 2012 | 11:58 pm
    Do you know anything about the Federal Work Study Program? Those who will be entering college in the near future should learn as much as they can about this program as well as the many other types of financial aid for college. Generally speaking, the Federal Work Study Program provides funds to students through part-time employment. This type of financial aid, along with others, helps the student pay for the cost of college. There are roughly 3,500 institutions in the United States that take part in the Federal Work Study Program. The individual institution has the ability to…
 
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    The Banking and Strategy Initiative

  • The Deal Economy: New numbers for the Facebook IPO ($16B at $38) make it the largest IPO in history | Deal Insight

    zyakaira
    16 May 2012 | 11:35 am
    Image via CrunchBase Facebook’s self effacing roadshow trudge seems to have thrown quite a leg with Zuckerberg’s dream project taking off to a larger Capitalisation target ahead of Friday’s open. Earlier the company had upgraded its IPO range to $34-$38 making itss $104 bln IPO at the top of the range.  Now the firm has further increased the number of shares on offer in the IPO to 421 mln from the earlier 337 mln making it contest for the largest Global IPO tag than just the largest Internet IPO earlier with a $15 bln take at the top of the range Goldman Sachs and Tiger…

  • US Economy: A post-winter Housing recovery on board, S&P helps global cues

    zyakaira
    16 May 2012 | 10:28 am
    A battered set of global Financial markets were likely pleasantly surprised by US housing data after Europe could not hang on to gains in the afternoon. That means a better global financial markets opening tomorrow as US Housing starts, holding on to gains in Multi-family (rental) units to report a 30% Y/Y gain to 717,000 units an hour back. That gain in housing starts came despite a 20% contraction in the North East ( New York, Boston and Connecticut) with the South encouragingly growing 11.6%. Single Family Housing isn’t badly off either seemingly. A map of states and cities where…

  • US Economy: Euro nosedive gives Strength to US dollar, JP Morgan investors reaffirm faith.

    zyakaira
    15 May 2012 | 9:00 pm
    Commodities continued their run down from last year’s “bubble” tops with silver and Copper losing a mile after the Chinese data. Things are complicated for europe even as Spanish banks have recovered most of the required EUR 30 bln internally and do not likely intend to be in line for a ECB bailout. However even as Hollande’s meeting with merkel affirmed nothing, flight of deposits from Greek banks and new elections in the state in one month mean that the outlook for the Euro is hard enough for the currency to trammel down from 1.28 to beyond 1.27 levels towards the…

  • Are ‘Say on Pay’ concerns enough to mollify banks and shareholders? | Banking Insight

    zyakaira
    14 May 2012 | 8:03 pm
    When Citi’s Vikram Pandit tried to crawl out of his $1 pay for 2009 and 2010 with a $14.9 mln package for 2011, the shareholders’ exercissed their say for pay voted with a resounding 55% “No” to the proposals, putting Citi executives at risk of being hot headed, wasteful and other such if they indeed encashed the pay cheque for themselves. At Barclays’ it was a close call but the largest CEO package over $17 mln for CEO Bob Diamond was rejected by only 35% of the shareholders including pension funds. CalPERS (California Public Employees’ Retirement System)…

  • Whale Trader burns JP Morgan goodwill | Banking Insight

    zyakaira
    11 May 2012 | 10:57 am
    Though JP Morgan would degrade earnings for Q2 by a minimum of $800 mln from yesterday’s announcement, the damage could be more severe for the bank’s decision to hold on to unrealised gains in the CIO portfolio of securities of $ 8 bln. It has till now sold off positions for a gain of $1 bln to bring the net damage from Bruno Iskil’s trades to $800 mln. The CDX series traded not being the detail of importance, Dimon is also unlikely to face a major burn from this event as the bank gets downgraded two notches for another $1.7 bln in collateral and stretches the earnings…
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    OptiRate.com

  • Gen Y Hard Hit By Recession But Youthfully Optimistic

    Serge Milman
    24 Apr 2012 | 9:00 am
    Community Banks and Credit Unions are doubling down on their efforts to grow the proportion of Gen Y in their customer base.  We find this strategy puzzling given the mountains of data that suggests Community Banks and Credit Unions should focus on the affluent (read here and here), rather than investing resources on Gen Y [Read More...] Read more at http://BankBlog.OptiRate.com

  • Payments Offer a Unique Opportunity for Community Banks and Credit Unions to Compete and Win

    Serge Milman
    23 Apr 2012 | 12:19 pm
    Financial Institutions – particularly Community Banks and Credit Unions – continue to face significant margin pressure, especially post Reg E and Durbin.  Boston Consulting Group (BCG) analysis predicts that Banks can expect a 2% decrease in annual revenues while transaction volumes will increase 9% annually over the next 10 years.  McKinsey & Co predicts that [Read More...] Read more at http://BankBlog.OptiRate.com

  • Will the bank Branch Ever Return to Profitability?

    Serge Milman
    15 Feb 2012 | 12:59 pm
    Are Branches an effective and efficient distribution, sales & service channel? A recent FIS white paper suggests the answer may be 'No'. Read more at http://BankBlog.OptiRate.com

  • What's in Dodd-Frank from ICBA

    Serge Milman
    14 Feb 2012 | 5:24 pm
    Title by Title Overview of What’s in Dodd-Frank courtesy of ICBA.   ————————————————————— —————————————————————- Read more at http://BankBlog.OptiRate.com

  • Branchless Banking – Fantasy or Reality?

    Serge Milman
    13 Feb 2012 | 11:36 am
    Some say branchless banking is never going to happen, yet there are hundreds of large and small Banks and Credit Unions that are living examples of "never". Read more at http://BankBlog.OptiRate.com
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    BAI Banking Strategies

  • How to Win at Social Media

    16 May 2012 | 7:00 am
    To get the most out of their social media efforts, banks need to interact honestly with customers and provide them with real value.

  • From Improvise to Enterprise in AML

    15 May 2012 | 7:00 am
    Anti-money laundering officers have been adept at improvising under a torrent of new regulations but the time is coming when enterprise-wide systems are required.

  • Small Business Banking Redux

    14 May 2012 | 7:00 am
    Having abandoned small business banking in recent years, many institutions are returning to the segment, prompted by both market opportunity and regulatory prodding.

  • How to Generate Loan Growth

    11 May 2012 | 7:00 am
    The efforts by banks to focus their loan generation activities on high-value customer segments will require top-quality implementation by well-trained frontline employees.

  • Fighting Payments Fraud the Hybrid Way

    9 May 2012 | 7:00 am
    With the ever-increasing complexity of payments fraud, banks need a hybrid approach to fraud detection that effectively coordinates and leverages all available technologies.
 
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    CUNAverse

  • Undercover San Diego: Spots the Locals Love (Comment for the chance to win a gift card to one of these local favorites)

    Guest Blogger
    16 May 2012 | 11:25 am
    From: CUNA’s Undercover Speaker San Diego is known as “America’s Finest City” for a number of reasons—mostly because there’s so much to see and do along with the perfect weather to enjoy it... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Is There a Credit Union Niche on Tumblr?

    Guest Blogger
    10 May 2012 | 12:41 pm
    From Mark Arnold: While micro-blogging site Tumblr may still be a junior partner to other social media giants like Facebook, Twitter and YouTube, a growing number of credit unions are jumping on the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Youth Program Best Practices: An Interview with Torrance Community Credit Union

    Guest Blogger
    25 Apr 2012 | 9:39 am
    By Michelle Ruppert, CUNA Online Communications Intern As an intern with the Credit Union National Association, much of my focus has been on the National Credit Union Youth Week™ campaign.  Now that... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Thanks to the Heroes

    Guest Blogger
    18 Apr 2012 | 9:11 am
    From Beth Stetenfeld: If you ask friends, neighbors, and colleagues to size up their lives, few say every aspect of life has been perfect—that they’ve had it all. Some say they have no regrets. But... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Sparking Big Ideas

    Tracy Anderson
    11 Apr 2012 | 3:56 pm
    Where exactly do good ideas come from? It would be nice to think that every idea we have is a pure stroke of genius with no one else to credit but ourselves; however, this is rarely the case.  While... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
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