Blog Entries tagged 'Making Sense Of It All' Blog Entries tagged 'Making Sense Of It All' Mon, 04 Feb 2013 16:33:42 +0100 FeedCreator 1.7.2 Breaking the barriers to Big Data <p style="line-height: 150%"> In this era of hyper-regulation, economic ennui, and desperate revenue requirements, the potential of Big Data is something like the holy grail: extremely desirable yet tantalizingly out of reach. </p> <p style="line-height: 150%">   </p> <p style="line-height: 150%"> It's not that bank and other business leaders doubt the advantages that advanced analysis of data derived from customer interactions and other sources could bring to the bottom line. It [...] jginovsky Mon, 04 Feb 2013 00:00:00 +0100 Making Sense Of It All GoBank makes a case to be the go-to bank <p style="line-height: 150%"><br/>Guess what industry was rated as one of the worst for innovation, topping only airlines and pet care? That's right. Banking. <br/></p><br/><p style="line-height: 150%"><br/>  <br/></p><br/><p style="line-height: 150%"><br/>So says a Harris Interactive poll released recently. Of more importance, however, is who commissioned the survey: Green Dot Corp. That's significant because Green Dot just unveiled GoBank, its exclusively mobile, FDIC-insured bank. <br/></p><br/><p style="line-heig [...] jginovsky Mon, 28 Jan 2013 00:00:00 +0100 Making Sense Of It All Alternative payments becoming less of a chicken-egg question <p style="line-height: 150%"><br/> EMV [chip and PIN] credit card readers in the back seat of taxis. Airline miles and other loyalty awards enabled for use immediately in grocery stores. An iPad equipped with point-of-sale connectivity anywhere. <br/></p><br/> <br/><p style="line-height: 150%"><br/>   <br/></p><br/> <br/><p style="line-height: 150%"><br/> What's all this have to do with banking? They're new facets of alternative payments that could go mainstream very, very soon. They are not science fiction. They, an [...] jginovsky Wed, 23 Jan 2013 00:00:00 +0100 Making Sense Of It All Putting numbers on New Year predictions It's one thing to predict the amazing features technology will introduce to the financial system, but it's another thing to predict how much and to what purpose financial institutions will decide to invest in technology going forward. <p> <br /> To that end, several industry analysts have done some number-crunching since the beginning of the year. It's important to see what the dollars-and-sense (pun intended) people have to say about predictions regarding technology investment. So [...] jginovsky Mon, 14 Jan 2013 00:00:00 +0100 Making Sense Of It All New year tea leaves: What’s in store? <p style="line-height: 150%"><br/>There are lots of guesses about what's in store for banking, business, and everybody. Lots of entities have already posted their predictions for 2013 and beyond. Some are-excuse the phrase-predictable, while others are way out there. It's likely more such lists will emerge soon. Here's a roundup of some: <br/></p><br/><p style="line-height: 150%"><br/>  <br/></p><br/><p style="line-height: 150%"><br/><b>Aite and mobile trends</b> <br/></p><br/><p style="line-height: 150%"><br/>"Aite Gro [...] jginovsky Tue, 08 Jan 2013 00:00:00 +0100 Making Sense Of It All It’s all about the customer <p style="line-height: 150%"><br/> In the past year a number of buzzword topics relating to bank technology trends have buzzed by here: Big Data, analytics, cloud computing, social media, channelization, mobile banking, and umpteen derivatives of these and other subjects. <br/></p><br/> <br/><p style="line-height: 150%"><br/>   <br/></p><br/> <br/><p style="line-height: 150%"><br/> It's fair now, at the end of the year, to attempt to generalize what all these may have in common that would concern bank technology lead [...] jginovsky Tue, 18 Dec 2012 00:00:00 +0100 Making Sense Of It All Mobile banking—Love it, hate it, gotta have it <p style="line-height: 150%"><br/>By now you would think that mobile banking would be as ubiquitous as ATMs, branches, and online web sites, judging by all the ink and electrons that have been expended writing about it, but it seems that there are still some holdouts out there. <br/></p><br/><p style="line-height: 150%"><br/>  <br/></p><br/><p style="line-height: 150%"><br/>You know who you are. You're the ones in the categories that many analysts depict in their pie charts as "not offering yet" or "plan to off [...] jginovsky Tue, 11 Dec 2012 00:00:00 +0100 Making Sense Of It All Banking innovators, arise! <p style="line-height: 150%"> It's rare when banking regulators express a desire to position their agencies on the leading edge of technology in financial services. The trend so far has been to depend on the industry to push the limits afforded by new and developing capabilities that offer the possibility of doing things better, faster, and more efficiently, while serving customers and providing returns on investment. </p>   Only then-usually-do the regulators step in, evaluate [...] jginovsky Tue, 04 Dec 2012 00:00:00 +0100 Making Sense Of It All Old fashioned identity theft alive and—unfortunately—well <p style="line-height: 150%"> Did you hear about the family of five in Florida? Unfortunately, this is not a joke. It turns out they were involved in an identity fraud ring for more than three years. The family, with ages ranging from 24 to 37, had filed at least 130 fraudulent applications, using more than eight Social Security numbers and 11 dates of birth during a three-year time period. </p>   Such is an example from an extraordinary effort by ID Analytics. According to a recent [...] jginovsky Wed, 28 Nov 2012 00:00:00 +0100 Making Sense Of It All Nomophobia and banking <p style="line-height: 150%"> You probably have nomophobia and don't even know it. It's the latest created word that describes that gut-wrenching, sweat-inducing, panic-attacking realization that you've lost your mobile phone. </p> <p style="line-height: 150%">   </p> <p style="line-height: 150%"> That there is a name for this is symptomatic of a larger truth. People commonly become inordinately attached to their mobile phone and all the connectivity it provides. This connecti [...] jginovsky Mon, 19 Nov 2012 01:00:00 +0100 Making Sense Of It All BYOD grows up, intensifies <p style="line-height: 150%"><br/> Love it, hate it, it doesn't matter. Management at the least has to learn to tolerate the consumerization of devices in the work place, and, at the best, create and enforce policies acceptable to all parties-IT managers, security managers, business managers, and employees themselves. <br/></p><br/> <br/><br/>   <br/><br/> <br/><p style="line-height: 150%"><br/> A slew of studies and white papers have appeared over the past few months, all of them saying one way or another that "brin [...] jginovsky Tue, 13 Nov 2012 01:00:00 +0100 Making Sense Of It All PFM poised for a comeback <p style="line-height: 150%"> It seems like only yesterday that personal financial management was a fertile field for financial institutions seeking new sources of revenue, especially because new online systems promised to make PFM provision affordable. </p>   But yesterday was a bad day, metaphorically speaking. The economy tanked over the past few years and the vast majority of bank customers were much more concerned about keeping afloat, let alone worrying about building a life ra [...] jginovsky Thu, 08 Nov 2012 01:00:00 +0100 Making Sense Of It All Merchants weak link in cybercrime <p style="line-height: 150%"> This being National Cyber Security Awareness Month, it's appropriate to start off with some of the eye-popping statistics that various industry players put out recently: </p> <br /> · Every second, 18 adults around the world become victims of cybercrime. (Norton)<br />  <br /> · Each cybercrime ends up costing $197 per victim, on average. (Norton)<br />  <br /> · Nearly one in five Americans report being victim to a crime [...] jginovsky Mon, 22 Oct 2012 01:00:00 +0100 Making Sense Of It All Customers not only like mobile banking, but expect a lot from it <p style="line-height: 150%"> The gee whiz phase of mobile banking is over, or soon will be. Customer expectations increasingly are making it as much as an expected commodity as online banking is now. </p> <br /> But there is a difference. The likely users of mobile banking have little tolerance for substandard delivery and limited functionality. They are the "me now" generation who already know the difference between great and poor service, and won't settle for anything less t [...] jginovsky Tue, 16 Oct 2012 01:00:00 +0100 Making Sense Of It All The acceleration of analytics <p style="line-height: 150%"> A year ago every time "big data" was mentioned, one had to define the term, along with its tag-along partner, analytics. </p> <br /> Now, the terms not only roll off the lips, they've become engrained in business plans, corporate culture, operations, marketing, and any kind of vision for the future. The speed with which big data and, particularly, analytics, has taken hold demonstrates just how rapidly the technological side of business is changing [...] jginovsky Tue, 09 Oct 2012 01:00:00 +0100 Making Sense Of It All Security concerns, response, continue to ramp up <p style="line-height: 150%"> Entropay, a European concern that runs a virtual credit card website that allows anyone to open and fund a virtual prepaid Visa card, was repeatedly attacked recently by highly sophisticated online hackers. </p>   The site allows consumers a flexible, and instantaneous way of making and receiving online payments. As such, it also is a prime target of hackers who, even though they never had a chance of actually stealing any money, did it simply because it l [...] jginovsky Wed, 03 Oct 2012 01:00:00 +0100 Making Sense Of It All Bank technologists meet American Idol <p> All that was missing from the recent Finovate Fall 2012 financial technology convention in Manhattan were the snarky judges and the over-the-top would-be pop singers. </p>   Everything else reminiscent of TV reality talent shows was there. Glitzy stages. Multiple screens the size of delivery vans. Pounding music. Tight stage production (except for the iffy wifi and internet connections, which many of the presenters depended on and for which the chief of the Jacob K. Javits Conventi [...] jginovsky Tue, 25 Sep 2012 01:00:00 +0100 Making Sense Of It All Mobility and security need to mix This must be the mobile decade. Everybody and everything is on the go, in the cloud, over the air, and out the door. The digital devices 88% of us carry (according to the Pew Internet pollsters) provide all sorts of things we used to depend on from other sources: newspapers, radio, brick-and-mortar stores, even (shudder) the U.S. Post Office.   Banking is no exception. FIS, the global bank technology provider reports its client base for mobile has increased more than 150% year-over-yea [...] jginovsky Tue, 18 Sep 2012 01:00:00 +0100 Making Sense Of It All All fraud, all the time <p style="line-height: 150%"><br/> Lately it seems that fraud is top of mind in all sorts of areas where banks are concerned. Just in the past few weeks various observers have raised red flags. For example: <br/></p><br/> <br/><br/>   <br/><br/> <br/><br/> <i><b>·  Cloud computing security:</b></i> Trend Micro says the percentage of companies that reported a data security lapse or issue with their cloud service is approaching half, increasing from 43% in 2011 to 46% in 2012. <i>Over</i> half of the compan [...] jginovsky Tue, 11 Sep 2012 01:00:00 +0100 Making Sense Of It All It’s boom time in electronic banking Digital banking of one form or another seems to be the new Wild West for technology providers, analysts, and commentators. According to recent releases, studies, and posts, "there's gold in them thar electronic accounts"-particularly payments-and now's the time to scramble to take advantage of it all. <p> </p> <p> Just for example, take Nina. Or rather, talk to Nina. It's the new virtual assistant from Nuance Communications Inc. It's similar, but not related, to th [...] jginovsky Tue, 04 Sep 2012 01:00:00 +0100 Making Sense Of It All