All articles by Douglas Blakey
Douglas Blakey
TCS agrees $50m deal with Deutsche Bank
India-headquartered Tata Consultancy Services (TCS) has signed one of the years biggest banking IT deals an agreement worth more than an estimated $50 million to supply Deutsche Banks Global Transaction Banking (GTB) unit with a new core banking system Klaus Thoma of Deutsche Bank told RBI that, in the majority of countries, TCS BaNCS software will replace ageing in-house legacy systems and will take six to seven years for the IT replacement programme to be completed.
ABSA to deploy FICO Falcon Fraud Manager
Barclays South Africa-based subsidiary, ABSA, is to deploy analytics and decision management technology,Falcon Fraud Manager 6, from US-headquartered vendor FICO. Set for implementation in the New Year, Falcon will support ABSAs goals to improve fraud prevention, detection, investigation, recovery and remediation across its debit and credit card portfolios.
CitiFinancial to rebrand as OneMain Financial
CitiFinancial, the consumer lending arm of Citigroup and the largest consumer loan company in the US, is to rebrand itself as OneMain Financial. Citi aims to rebrand its 1,300 US-based CitiFinancial branches by July, as it continues its efforts to sell the division.
FIS launches debit card iPhone app, Android to follow
FIS has rolled out an iPhone mobile banking app, which allows consumers to set up mobile account management via an iPhone using their debit card FIS plans to roll out the same m-banking service capabilities for the Android platform within the next 30 days. Unlike many such apps, the entire process can be completed from start to finish via the customers handset, avoiding the need to have an internet banking account or register online.
Fico launches analytically advanced originations solution
Analytics and decision management technology vendor, FICO, has released FICO Origination Manger, an analytic solution that supports the credit origination process from application through to the final decision. According to FICO, the new service is its most powerful solution yet for assessing customer risk and potential value at the origination stage. FICO said that Origination Manager includes decision optimisation tools to more precisely match offers to applicants in terms of products, line amounts and pricing
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Wells Fargo launches ATM Cash Tracker Management Tool
Wells Fargo has introduced ATM Cash Tracker, a personal financial management (PFM) tool to help customers keep control of their finances The new service enables customers to set a target amount and track their monthly Wells Fargo ATM withdrawals According to Wells Fargo, it is the first and only bank to offer such a service.
Fiserv study reveals bank customers’ social media focus
11% of internet banking customers in the US are already engaged with their financial institution via a social networking website site, according a survey conducted on behalf of Fiserv
Monitise to roll out m-payments service in Nigeria
Monitise, the mobile money networks and technology group, has been has granted a provisional licence by the Central Bank of Nigeria to introduce a mobile payments service in the country.
PKO teams up with Gemalto in Poland’s biggest contactless launch
PKO Bank Polski (PKO), Polands largest bank by assets, has partnered with digital security vendor, Gemalto for the migration of its portfolio of Visa debit cards from magnetic stripe technology to EMV contactless The deployment process kicked off in September and PKO aims to issue around 6.5m Visa payWave cards by the end of 2011.
National Bank of Canada FY10 profits rise 21%
National Bank of Canada (NBC), the countrys sixth-largest bank by assets, has kicked off the Canadian banking reporting season with a full a year net profit of C$1.03bn ($1.01bn), up 21% from the previous year and a headline grabbing 6% increase in its quarterly dividend. NBCs retail focused Personal and Commercial unit contributed 53% of group revenue for fiscal 2010 covering the 12 months to 31 October – compared to 51% last year; the unit was responsible for 50% of group net income against 44% a year ago.