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Technology Clips
Chinese
Companies Pick Linux to Boost Their Own Skills
The last couple of years have seen one disaster after another in China's
financial sector: financial scandals, record losses, a stock market at
six-year lows.
CIO INSIGHT Feature (September
2005)
 Open-Source
May Help China Curb Software Piracy
Since Linux doesn't require user licenses, it's also a way to combat software
piracy, which is an epidemic in China.
CIO INSIGHT Feature (September
2005)
Chinese
Companies Plan Massive Linux Deployments
Tokyo-based TurboLinux has recently announced that the Industrial &
Commercial Bank of China will roll out Linux in all of its 20,000 retail
branches. ICBC, which has 100 million customers and over 8 million corporate
accounts, is the largest bank in China.
CIO INSIGHT Feature (September
2005)
Open-Source
May Help China Curb Software Piracy
Since Linux doesn't require user licenses, it's also a way to combat software
piracy, which is an epidemic in China.
EweekFeature (September 2005)
Cost
Savings and Collaboration Drive B2B E-Payments
Electronic invoicing and bill presentment (EIPB) can save millions in
payment processing costs for both buyers and suppliers. But incompatible
technologies make it difficult for companies to choose and deploy any
one EIBP system -- especially when trading partners may pick a competing
one
Computerworld Feature (October
2003)
Bringing
Suppliers on Board
Sprint Corp. is motivating its suppliers to process bills online by getting
them their money faster.
Computerworld Feature (September
2003)
Russia
and Eastern Europe: There's a treasure trove of scientific talent -- and
lots of government bureaucracy.
Compared with some of the big-league outsourcing
players, Russia is a rookie. The country's current revenue from IT outsourcing
is $150 million to $200 million annually, a drop in the bucket compared
with India's yearly draw of $6 billion. But, though little more than a
decade old, Russia's outsourcing industry is learning to play to its strengths
and is growing by 50% annually, analysts say.
Computerworld Feature (September
2003)
Piecing
It All Together
Enterprise application integration projects remain a top IT priority for
2003
Computerworld Feature (July
2003)
Snapshot:
Corporate Express Inc.
A quick look at the status of Corporate Express' enterprise application
integration projects.
Computerworld Feature (July
2003)
Snapshot:
Mennonite Mutual Aid Association
A quick look at the status of MMAA's enterprise application integration
projects.
Computerworld Feature (July
2003)
Beyond
Linux: Focusing on the future of open source
It's every technology vendor's nightmare: a proprietary moneymaking technology
is replaced by a free alternative built by a global army of volunteers
working in their spare time, destroying the business model overnight.
Of course, this is also the dream of every technology user who's tired
of paying too much for unmodifiable code and being locked into one particular
platform. Wall Street IT departments are no exception. In fact, with the
recent wave of budget cutbacks and a renewed emphasis on efficiency, open
source is starting to look really good.
Securities
Industry News (June 9, 2003)
Wonders of Soap: A Dream for Users,
Nightmare for
Vendors
Everybody and his brother has a different definition of Web services,
but it's really very simple: Web services are built with Soap (Simple
Object Access Protocol). If it ain't got Soap, it's not a Web service.
Securities Industry News
Feature (May 2003)
As Standards Evolve, Platforms Improve
This year, Microsoft, IBM, BEA and Sun Microsystems are expanding on their
basic Web services development frameworks to offer support for the latest
security and transaction protocols, improve Web services coordination,
and add more management tools.
Securities Industry News
Feature (May 2003)
Help Abounds For
Users
All the major consulting firms have invested in the new technology, training
programmers, setting up dedicated development centers, and forging ties
with technology vendors. The goal? To become attractive to Wall Street
firms moving to a services-based architecture. Securities Industry News
talked to a number of consulting companies and asked what advice they
have to offer Wall Street firms looking to deploy Web services. Here are
some of their suggestions.
Securities Industry News
Feature (May 2003)
Street's Embrace of Intel, Windows,
Linux Boosts Dell
Dell's inexpensive but reliable workstations and laptop computers
have always appealed to Wall Street firms, but with the recent interest
in Intel, Windows and Linux, grid computing, and, of course, saving money,
firms are turning to Dell servers as well.
Securities Industry News
Feature (Apr. 2003)
Wall Street Firms Cope With Surge in IM Traffic
According to estimates from Boston-based Yankee Group, there are currently
more than 25 million business users of IM in the United States, most of
them so-called "stealth IMers," using public IM services on
an informal basis without IT approval.
Securities Industry News
Feature (Mar. 2003)
IM Technology a Boon for Customer Service
Instant messaging technology has proven to be a new way for firms to reach
out and touch their customers.
Securities Industry News
Feature (Mar. 2003)
Instant Messaging Standards: Keeping It Simple
It's an instant messaging case of extremes. While the free-swinging AOL
IM users are sending unencrypted messages willy-nilly across the public
Internet, others are locked behind virtual stockades, using enterprise-based
or community-based IM solutions that only allow them to talk to other
employees. Someday, all this confusion will go away and the world will
have standards-based instant messaging, so that a user of any given system
will be able to send messages to the users of any other system.
Securities Industry News
Feature (Mar. 2003)
Hello, HAL: Computer Systems That Fix Themselves
When I first heard that some computer vendors were working on "self-healing"
systems, my first thought was: Where do I sign up?
Securities Industry News
Feature (Mar. 2003)
Is Linux technology set to Elbow Unix off Wall Street?
In a remarkable development, a free platform put together by volunteers
working in their spare time, has become the operating system of choice
for many Wall Street firms. Morgan Stanley is one of them.
Securities Industry News
Feature (Feb. 2003)
La Crême de la CRM
Customer-relationship-management systems offer a wide variety of features.
But small steps are best when moving up this technology stairway.
Bloomberg Wealth Manager
(Jan. 2003)
Internet calling becomes accessible
No more long distance bills! No more hassles with the phone company! It
sounds like a scam, or a come-on for one of those dirt-cheap calling cards.
Wilmington Star News (Jan.
2003)
Firms Turn to Internet Telephony for Flexibility, BCP
All the interviews for this article were conducted using an Internet
telephone. But before you start to feel sorry for the folks I talked to,
you should know that there was no echo, no lag, no dropped calls and no
problems with sound quality. In fact, the only way to tell that I was
on an Internet phone is the absence of long distance charges.
Securities Industry News
Feature (Jan. 2003)
Tools Help Fend Off New Net Attacks
In protecting the enterprise from ever-escalating assaults from hackers
within and without, corporate security pros now have a new weapon-smart
devices that can detect even never-before-seen attacks. Ever on the front
line, financial firms, including the New York Mercantile Exchange, are
among the early adopters of this new technology.
Securities Industry News
(November 2002)
IBM, BEA Face Microsoft STP Competition
While Microsoft recently entered the straight-through processing fray
with a new tool set, industry leaders IBM and BEA Systems continue to
expand on their integration products. BEA unveiled a new way to bring
together data from disparate sources earlier this month, and IBM continues
to expand on its WebSphere product line, with a new version due the end
of the month.
Securities Industry News
(November 2002)
It's All About the Benjamins
Hackers don't just target Wall Street firms because they're visible icons
of American power. They go after them because there's money at stake.
"These are organized criminal groups who have made a business model
around hacking because hacking is more lucrative than heroin or cocaine,"
said a World Bank security expert.
Securities Industry News
(November 2002)
Microsoft Upgrades BizTalk
Microsoft is releasing a new set of integration tools on Nov. 4 that work
with its BizTalk server application. The new tools will go head-to-head
against products from BEA Systems and IBM.
Securities Industry News
(November 2002)
Financial Users Balking at New Microsoft Pricing
Microsoft has always been the 800-pound gorilla when it comes to the desktop,
but recent changes to its licensing policies have made relations with
user firms somewhat strained. "It's sort of a love-hate relationship,"
said Putnam Lovell's Rodric O'Connor.
Securities Industry News
(October 2002)
Internet Extends Reach of EDI
The Internet has breathed life into EDI (electronic data interchange),
with vendors using the communication standard to transmit payment-related
information -- but without the expense of using proprietary communication
channels.
Business Credit Magazine Featured Article (October 2002)
Cost Savings and Collaboration Drive B2B E-Payments
Electronic invoicing and bill presentment (EIPB) can save millions in
payment processing costs for both buyers and suppliers. But incompatible
technologies make it difficult for companies to choose and deploy any
one EIBP system -- especially when trading partners may pick a competing
one.
Computerworld Management Feature
(Oct. 2002)
Data, Disaster Recovery Driving
10-Gigabit Ethernet
With the approval of 10-gigabit Ethernet as a standard for transmitting
data over networks earlier this summer, vendors have already begun rolling
out products, though many customers are waiting for prices to drop.
Securities Industry News (September 2002)
Big Board to shift brokers to TCP/IP
Standard
Although TCP/IP is the common communication standard for the Internet
and in many other environments, the New York Stock Exchange has been supporting
older protocols as well. But beginning last month, the NYSE stopped accepting
requests for new lines based on old standards and, as of Dec. 31 2003,
all customer lines into CMS (Common Message Switch) must use the TCP/IP
communication standard.
Securities Industry News
(September 2002)
Microsoft, IBM, BEA Merge Web Services
Standards
In the next release of IBM's Web services platform, called WebSphere,
the company will start to implement a set of higher-order Web services
standards developed jointly with competitors BEA and Microsoft.
Securities Industry News
(August 2002)
PwC Buy to Put IBM in Top Biz Transformation
Tier
With approval of the IBM-PricewaterhouseCoopers deal due by the end of
September, Wall Street customers may soon see a greater range of strategic
business consulting services from IBM, a timely addition to the technology
consulting services the company now offers.
Securities Industry News
(August 2002)
Sun
Betting on Linux With Fully Packed Box
In a big step forward for the open-source operating system, Sun Microsystems
is set to roll out a new general-purpose Linux server this Monday as well
as announce that it is making the Sun One Web application server stack,
formerly known as iPlanet, available on the Linux platform.
Securities Industry News
Paid Archive (August 2002)
Catching
the Outsourcing Wave
Pressure to reduce costs, improve efficiency and increase flexibility
in the back office seem to be driving the brokerage industry toward a
long-term shift to outsourcing.
Securities Industry News
Paid Archive (August 2002)
Alliance Proposes ID Standard
The tantalizing goal of intra-company-and cross-company-integration
got a step closer last week with the release of a new authentification
and identity standard from Liberty Alliance.
Securities Industry News
(July 2002)
Web Services: Changing How Firms connect
In the never-ending search to do business better, faster and cheaper,
Wall Street firms are seriously looking at adopting Web services communication
standards-and some are already doing more than just looking.
Securities Industry News
(July 2002)
Internet telephony: Boon for disaster-recovery
efforts
After Sept. 11, Merrill Lynch-which is located directly across the
street from the World Trade Center site-discovered that voice over IP
phones make moving people to new offices a snap.
Securities Industry News
(July 2002)
Microsoft,
Sun, HP, IBM, Intel Tout Alliances
Technology heavyweights Microsoft, Sun Microsystems, Hewlett-Packard,
IBM and Intel all made their presence known at the Securities Industry
Association's Technology Management conference last week, with announcements
and presentations involving partnerships and alliances, straight-through
processing and Web services.
Securities Industry News
Paid Archive (July 2002)
Mercator, BEA Systems Team Up on
Integration
Mercator Software and BEA Systems, two leading technology providers, have
teamed up to offer Wall Street customers a set of integration tools-and
to defend their turf against other vendors.
Securities Industry News
(July 2002)
IBM Shuts Down Sequent's Numa-Q;
Sun Makes Grab for Users
In 1999, IBM bought Sequent Computer Corp. and its Numa-Q line of
servers for $810 million-only to shut it down completely last month, finally
laying off its 250 Beaverton, Ore. employees amid a broader set of layoffs
around the country.
Securities Industry News
(July 2002)
Javelin, Iona Team Up for FIX-Based
Web Services
Two leading technology vendors have hopped on the Web services bandwagon
and announced last week that they have joined forces to offer a FIX engine
over a Web services connection.
Securities Industry News
(July 2002)
When Passwords Are Not Enough for
Security
If cyber movies have taught Wall Street security experts anything, it's
that passwords by themselves can't keep bad things from happening.
Securities Industry News
(July 2002)
Mckinley Rides Merrill Lynch's
Second Tech Wave
John McKinley, Merrill Lynch's chief technology executive, saw his
first major tech downturn when he was still in grade school.
E-Securities (July 2002)
Natural-Language
Speech Technology Can Ease Costs, Reduce Frustrations
To maintain phone-related operational efficiency in this environment-
- and at a time when customers don't want to spend hours wading through
those touch-tone menus -- is a challenge for T. Rowe Price and firms throughout
the industry.
E-Securities Paid
Archive (July 2002)
Searching
for Quick Answers
Understanding what a customer writes is slightly easier than understanding
what he or she says. When one writes, there are no regional accents or
ambient noise. But still, there are pitfalls.
E-Securities Paid
Archive (July 2002)
Solaris
9 Promises More Security, Web Services Support
Sun took a step forward in the emerging area of Web Services last week
when it announced that support for the technology will be directly integrated
into the latest release of its Solaris operating system.
Securities Industry News
Paid Archive (May 2002)
Distributing
Data Can Save Time, Money- Maybe a Company
This year and next marks an inflection point for the storage marketplace
on Wall Street. For the first time ever, firms are starting to look more
toward networked storage when they buy new systems.
Securities Industry News
Paid Archive (May 2002)
Networks without wires
Advances in security and a focus on business continuity plans are converging
to make wireless local area networks more appealing to securities firms.
Securities Industry News
(May 2002)
Internet Dominates Russia's Nascent
Market
Newly formed stock markets have the luxury of avoiding burdensome traditions
and impenetrable legacy systems. Russia is a prime example. The Russian
equities market, fueled by advancements both large and small, has grown
rapidly and is now dominated by Internet trading.
Securities Industry News
(April 2002)
Instant Messaging Popping Up All
Over
Instant messaging can improve communication and collaboration -- but if
a company doesn't offer instant messaging to its employees, they will
get it on their own by downloading insecure, unreliable and unarchived
consumer solutions for free over the Internet.
Securities Industry News
(April 2002)
At The NYSE, The Paper Chase Is
Over
Perhaps the New York Stock Exchange's most famous image is the paper blizzard
that comes with a bell-closing rally and the littered exchange floor that
results. But times are changing. Much of the paper that once passed from
trader to runner, from trader to trader and from trader to customer has
been replaced by technology -- hand-held devices used for trade information,
emails, instant messages and customer communications.
E-Securities (April 2002)
Sun
Plugs Hole in Server Line With Starkitty
Sun filled a hole in its server line last week by introducing the Sun
Fire 12K, otherwise known as "Starkitty."
Securities Industry News
Paid Archive (April 2002)
Experts
Warn of New Security Vulnerabilities
Hackers will soon have a new kind of soft spot to target-Web services.
Securities Industry News
Paid Archive (April 2002)
More
Java Spilling Across Wall Street Enterprises
Java has hit prime time on Wall Street. Java is versatile because the
same program can run on any machine or device.
Securities Industry News
Paid Archive (April 2002)
Compaq
Vows Support for Himalaya Post-HP
The final results of the HP-Compaq merger vote may not be in for a couple
of weeks, but early results show it's a go-and Compaq has been working
overtime to ease customer minds about the integration.
Securities Industry News
Paid Archive (April 2002)
Exchanges
Take Hands-On, Hands-Off Approach to Devices
Unlike the NYSE, the Chicago Board Options Exchange doesn't provide
hand-held devices to its traders, but it does encourage them to bring
their own.
E-Securities
Paid Archive (April 2002)
Linux
system targets Infrastructure's Heart
Linux is rapidly becoming the best-kept secret on Wall Street. Although
few companies want to talk about it, many are reportedly using the open
operating system to lower the cost of their Web infrastructure and to
run high performance computing applications.
Securities Industry News
Paid Archive (March 2002)
Compaq,
Intel Push Wintel-based STP solutions
Compaq and Intel last week said they are teaming up on a project called
"Compass" that aims to bring straight-through processing applications
to the Windows-Intel platform and includes financial technology vendors
Neoves, Netik and SunGard.
Securities Industry News
Paid Archive (March 2002)
Sun
Microsystems Unveils Expanded Use of Linux
Sun Microsystems has slated a teleconference today, March 4, to tout its
new commitment to Linux, the free and open-source operating system.
Securities Industry News
Paid Archive (March 2002)
Firms
Weigh Data Cleaning For STP, T+1
As the T+1 deadline looms, Wall Street firms are also starting to look
to vendors to help them fix mistakes, fill in holes, and reconcile multiple
data streams.
Securities Industry News
Paid Archive (February 2002)
Grid
Computing Could Cut Costs, Improve Performance
In a year of trying to do more with less, Wall Street firms are taking
a hard look at grid computing -- a way to spread applications around servers
regardless of their locations or the operating systems they run.
Securities Industry News
Paid Archive (January 2002)
Brokerage
Technology: Rethinking IT Priorities in a Tough Economy
Charles Schwab, Merrill Lynch, Ameritrade, Credit Suisse First Boston
and Morgan Stanley all announced plans to lay off employees this year.
Securities Industry News
Paid Archive (January 2002)
HP-Capco
Alliance to Target Financial Services
Hewlett-Packard's $30 million deal with Capco announced last week
gives the hardware vendor financial services consulting capability-and
lets it compete with IBM's full-service approach.
Securities Industry News
Paid Archive (January 2002)
eSpeed
Charts Road To Recovery
The events of Sept. 11 hit the firm of Cantor Fitzgerald harder than any
other company in the World Trade Center.
E-Securities
Paid Archive (December 2001)
Elusive
Goal of Product Convergence Now Gets A Big Boost From Technology
While the success of financial supermarkets has been spotty in the past,
the inroads of technology in both front and back-office operations may
finally be creating an environment amenable to the concept.
E-Securities
Paid Archive (December
2001)
Thin-Client
Benefits Back in Spotlight Among Street Firms
If an application is distributed over the Internet through a Web browser
interface, there is no need to reinstall it on each new desktop-and no
need for desktops to be physically connected to a mainframe.
Securities Industry News
Paid Archive (November
2002)
Completely Redundant
From the moment it was proposed, there were skeptics. People wondered
why the New York Board of Trade needed to maintain a backup trading floor
at a cost of $300,000 a year. After all, typically not even major exchanges
have such sites.
E-Securities (October
2001)
Contingency Plans in the Spotlight
The Sept. 11 attacks demonstrated clearly-and tragically-that disaster-recovery
planning is not a luxury, but a necessity in today's world. But it also
highlighted flaws and weaknesses in many long-established plans.
E-Securities (October
2001)
Mixed Reviews On Wall Street For
Innovative XP
Windows XP is the most innovative addition to the Windows
family in years, finally burying the old MS-DOS code base and moving everyone-both
consumers and businesses-to the same NT architecture…
Securities
Industry News (October 2001)
High-End ServersBattling
to Win Financial Firms
Both IBM and Sun Microsystems have recently announced
new high-end servers that mimic mainframe functionality, that hold promise
for the financial services sector, but their timing could have been better,
experts say…
Securities
Industry Newss
Paid Archive
(October 2001)
Radianz,
Global Crossing Find Redundancy Pays
With redundant systems and quick response procedures, both Radianz and
Global Crossing Ltd. got their customers up and running quickly after
Sept. 11.
Securities
Industry News
Paid Archive (September
2001)
Tech
Companies Rush To Help Clients recover
More than any other industry on the planet, financial services depends
on an extensive technological infrastructure, and in the days following
the attack technology providers rushed in and worked round the clock to
restore this infrastructure to full functionality.
Securities
Industry News
Paid Archive (September
2001)
Napster-like
peer-to-peer Systems spread
The courts may have brought Napster to its virtual knees, but other peer-to-peer
applications are still alive and kicking-and not just in the music business.
Securities
Industry News
Paid Archive (September
2001)
Post-Merger LabMorgan: Combined
E-Com Unit Still in the Hunt for Innovative Technologies
Before completing their high-profile merger just after the first of the
year, both Chase Manhattan and J.P. Morgan responded to the growing possibilities
of electronic commerce by creating in-house divisions dedicated to finding,
investing in and sometimes spinning off promising technology companies.
E-Securities (October
2001)
Web Services on the Real-Time Internet
The U.S. government may be trying to break up Microsoft's
monopoly through lawsuits, but the real battle over the company's
future is being fought on a different front. It involves a new way of
writing software, called Web services, and it promises to make operating
systems, the very thing that forms the foundation of the Microsoft empire,
irrelevant…
E-Securities
Aug./Sep. 2001
Wall
Street Firms Look Externally for Web Security
The Code Red worm didn't do as much harm as expected during its infestation
earlier this summer.
Securities
Industry News
Paid Archive (August 2001)
Building
Portals Doesn't ensure Customers will come
Last year, single-dealer portals were seen by major broker-dealers as
a way to reduce costs, increase customer satisfaction, and reach new markets.
Today, that promise has been mostly unfulfilled.
Securities
Industry News
Paid Archive (September
2001)
Web Services
Web services are a new class of applications that can talk and work with
one another over the Internet.
Computerworld Feature (September
2001)
Microsoft gears up to battle Java
on Wall Street
Sun Microsystems' Java technology, combined with emerging XML standards,
makes it easy for Java applications on one platform to interact with Java
applications on any other platform.
Securities
Industry News (July 2001)
Reaction
Mixed as SuperSoes Rolls Out
The SuperSoes trade execution system, which Nasdaq is attempting to roll
out for the third time this week combines features of the current Small
Order Execution System (Soes) and Selectnet.
Securities Industry News
Paid Archive (July 2001)
Video
Connection spreading across traders' desks
Videoconferencing has long been a staple of science fiction, but has taken
longer to catch on in the real world than anyone expected.
Securities
Industry News
Paid Archive (June 2001)
Peer-to-peer
appeal for distributed computing efforts
While peer-to-peer systems like Napster are the tech topic of the moment,
a close cousin-peer-to-peer distributed computing-has actually shown itself
to be more useful.
Securities
Industry News
Paid Archive (June 2001)
Connecting
With The Top Brass
Effective communication -- including the ability to describe technology
issues in business terms -- is key in connecting with the corner office.
Computerworld Feature (June
2001)
Banks
Start Looking at Web Site Insurance
Along with the new opportunities that the Web has brought banks come several
risks. That's why banks are starting to invest in online-banking-specific
insurance.
Computerworld Business Strategy
Analysis (May 2001)
Outsourcers
Begin to Tap Russian Talent
Russia's "offshore" software industry is still in its infancy
but drawing Western adherents.
Computerworld Feature (April
2001)
Peer-to-Peer
Makes Inroads on Wall St.
Proponents of peer-to-peer computing say the technology promises to increase
Wall Street computing power tenfold while decreasing costs by the same
amount. First Union is already experiencing the savings.
Computerworld News Analysis
(April 2001)
Tech
revolutionizes Russia's Central Bank
Using satellite communications to bridge 11 time zones, the Russian Central
Bank has crossed the digital divide into the 21st century.
Computerworld Feature (April
2001)
New
York Life Names Chief Privacy Officer
New York Life Insurance last week joined the likes of IBM and AT&T
by naming a chief privacy officer to uphold privacy standards and procedures.
Computerworld News (April 2001)
Nasdaq
Begins Trading Stocks in Decimals
The Nasdaq Stock Market caught up to the rest of the securities industry
-- and the rest of the world -- last week when it finally dropped fractions
and switched to decimal stock pricing.
Computerworld News (April 2001)
Layoffs
Hit IT Staff On Wall Street
With the downturn in the stock market, brokerage firms have watched their
commissions drop off - and are now cutting back on spending and staffing
to cut costs.
Computerworld News (April 2001)
Automated
Clearing House
The Automated Clearing House is a secure, private electronic payment transfer
system that connects all U.S. financial institutions. Direct paycheck
deposits and debit card purchases are two examples of electronic fund
transfers that go through this network.
Computerworld Feature (April
2001)
Insurance
Carriers Move to Crumple Paper Processes
Two insurance industry projects that promise to automate formerly paper-based
processes are going live this month, involving industry powerhouses The
St. Paul Cos., AIG and The Hartford.
Computerworld Feature (April
2001)
Report:
Big Iron Still Rules Wall Street
Mainframes will continue to perform key processing functions for the securities
industry for at least another decade, according to a new report from Meridien
Research.
Computerworld News (April 2001)
Wall
Street Releases Draft XML Standard
The RIXML.org Standards Committee has released a draft version of RIXML
1.0 that's aimed at giving brokerages a common language for describing
equity research.
Computerworld News (April 2001)
Mainframes
still rule on Wall Street
Mainframe computers will continue to perform key processing functions
for the securities industry for at least another decade, according to
a new report from Meridien Research.
Computerworld News (March 2001)
Tax
Portals Could Help Lower Costs
Corporate tax departments are often the last units to see big boosts in
IT investments, but technology can help reduce Uncle Sam's bite by lowering
preparation time and improving planning.
Computerworld News (March 2001)
Schwab
to lay off up to 3,400
Citing the stock market sell-off and an overcapacity for handling online
trading, Charles Schwab & Co. executives announced major job cuts
yesterday amounting to 11% to 13% of the company's workforce.
Computerworld News (March 2001)
ABN
Amro/Digital Island hosting trial scores 25% savings
ABN Amro, the world's 16th-largest bank, announced last week that an experiment
with outsourcing Web hosting has paid off with a 25% savings
Computerworld News (March 2001)
CheckFree
announces e-mail bill options
CheckFree, a leading provider of electronic bill payment services to banks,
announced a new product this week that lets billers replace their paper
bills with e-mail versions.
Computerworld News (March 2001)
Schwab,
CSFBdirect to cut jobs
Discount broker Charles Schwab and CSFBdirect said this week that
they would cut staff to reduce costs, in another sign that times are tough
for online brokerages.
Computerworld News (March 2001)
Users
turn to technology to help minimize tax costs
Corporate tax departments are often the last in line for big boosts in
IT investments, but that's beginning to change as some companies look
to technology to reduce their tax costs.
Computerworld News (March 2001)
European
bank outsources e-banking to save money
Amsterdam-based ABN Amro Bank, the world's 16th-largest bank, said a move
to outsource the systems that run a corporate banking e-commerce site
has helped reduce the costs associated with those operations by 25%.
Computerworld News (March 2001)
Report:
E-Tax Prep Needs Business Networks
Financial firms should join with tax preparation companies like H&R
Block and Intuit to automate the tax preparation process, a new report
says.
Computerworld News (March 2001)
CyberCash
files for bankruptcy, has new deal with Network 1
Instead of a merger with Network 1 Financial Corp., CyberCash Inc. has
filed for Chapter 11 bankuptcy protection and may have its assets sold
to Network 1 at auction.
Computerworld News (March 2001)
Banks
Enter Insurance Business Via Portals
Banks have begun moving into the insurance field by using Web portals
to offer cobranded products from partners in the insurance industry.
Computerworld News (March 2001)
Visa
offers to help e-merchants meet new security guidelines
Visa U.S.A. announced a program under which it and the banks that issue
its credit cards will provide assistance to online retailers that need
to comply with a set of security guidelines taking effect in May.
Computerworld News (March 2001)
CFOs
Race to Keep Up With New Technology
Financial chiefs who don't understand technology don't understand their
businesses, analysts warn
Computerworld News (February
2001)
Schwab
database glitch cuts users off from some information
Charles Schwab was forced to temporarily switch its online trading Web
site to a backup server yesterday, a move that blocked its customers from
receiving trade confirmation messages and from viewing previous trading
records.
Computerworld News (February
2001)
Online
securities marketplace OffRoad Capital cuts staff by 30%
Citing a business slowdown caused by market conditions, the company laid
off 41 of its 120 employees in its three offices.
Computerworld News (February
2001)
Wall
St. IT Women Trail Men in Pay
Women have almost completely caught up to men when it comes to IT salaries
on Wall Street, a new report says -- if sales jobs aren't counted. According
to a just-completed survey of 200 securities industry financial technology
professionals, the median income for men was $218,000 -- and only $143,000
for women.
Computerworld News (February
2001)
Brokerage
Joins Movement Away From Net Pure-Plays
In yet another example of the move away from Internet pure-plays, online
brokerage Suretrade will officially be folded back into parent company
Quick & Reilly as of March 3.
Computerworld News (February
2001)
Decimalization
Finds Its First Victims at Ameritrade
The first decimalization-related problem of the year has hit Ameritrade
customers.
Computerworld News (February
2001)
Accounting
Change May Affect Mergers
The Financial Accounting Standards Board last week voted unanimously to
approve an accounting rule change that could be a blow for corporations
that pursue acquisitions of technology firms.
Computerworld News (February
2001)
Here
Come Geeks, Lawyers and Money
Reviews of three nonfiction books, Pride Before the Fall by John Heilemann,
Unchained Value by Mary J. Cronin and Crypto: When Code Rebels Beat the
Government by Steven Levy, and a novel called Eyeball Wars by David Meerman
Scott.
Computerworld Review (February
2001)
ISP
Juno Offers Financial Services
Juno, one of the nation's largest Internet service providers, opened its
own co-branded bank last December through a partnership and now plans
to offer its own branded brokerage services.
Computerworld News (January2001)
SEC
OKs Nasdaq Trading System, Despite Objections
The Securities and Exchange Commission unanimously decided to approve
a new trading system for the Nasdaq Stock Market earlier this month, but
opponents are concerned about decreased competition and possible costs
to consumers.
Computerworld News (January2001)
Web
Mortgages May Be Due For a Comeback This Year
Even though Mortgage.com may have folded late last year, it's too soon
to ring the death bell for the industry. Falling interest rates and increased
familiarity with the Internet lead more homeowners to look at online mortgages.
Computerworld News (January
2001)
Prices
Could Rise for Banks With Merger of Aggregators
The recent merger between aggregation giants Yodlee and VerticalOne could
lead to higher prices for financial institutions that offer account aggregation
to their customers - but it could also serve to propel development of
specialized analysis services, analysts say.
Computerworld News (January
2001)
U.S.
Brokerages and Banks Push to Close Wireless Cash Gap
According to a new report by Celent Communications, the total number of
people worldwide who transfer money using wireless devices is expected
to increase from 4.6 million today to 60 million by 2004.
Computerworld News (January
2001)
Ameritrade,
J.P. Morgan to Lay Off Employees of Online Operations
Online brokerage Ameritrade Holding Corp. said last week that it will
lay off more than 300 employees, and Morgan OnLine confirmed that it will
lay off about 150 employees.
Computerworld News (January
2001)
Bridge
Financing
Bridge financing is short-term financing - usually a loan backed by equity
- that's used by a start-up to pay for operating expenses during negotiations
for a second-stage round of venture capital investment.
Computerworld Feature (January
2001)
Ameritrade,
J.P. Morgan to cut workers
Online brokerage Ameritrade said today that it will lay off more than
300 employees, and Morgan OnLine confirmed that it will lay off about
150 employees.
Computerworld News (January
2001)
Banks
Pushing Into B2B Portal Market
With a captive audience, a virtual product and a customer base that's
steadily moving online, banks have joined the rush to set up e-commerce
portals for their business and retail customers.
Computerworld News (January
2001)
FTC
Seeks Input on Revisions to Credit Card Data Privacy Guidelines
The U.S. Federal Trade Commission has issued a request for public comments
about a proposed set of data privacy guidelines that would affect companies
looking to share share credit records and other consumer information with
affiliated businesses.
Computerworld News (January
2001)
VeriSign
Error Releases Customer E-Mail Addresses
In what it called an "administrative error," one of the Internet's
best-known security and identity companies, VeriSign, released a list
of e-mail addresses of more than 5,000 customers.
Computerworld News (December
2000)
World
Bank Alliance Goes Live
A group of four major banks based in Europe and the U.S. said last week
they've gone live with a system that will guarantee identity of the players
making large electronic payments on business-to-business exchanges.
Computerworld News (December
2000)
Schwab
Tightens Spending
In response to a drop in customer stock trading, discount brokerage Charles
Schwab & Co. said that it would freeze hiring and review project spending.
Computerworld News (December
2000)
Online
Bond and Foreign Exchange Industries Probed
Officials in the brokerage industry confirmed that some financial services
firms have received letters from the U.S. Department of Justice asking
for information about their online bond trading plans.
Computerworld News (December
2000)
First
banks go live with online B2B payment system
A group of four banks based in the U.S. and Europe said they're starting
to use a system that provides identity confirmation and other security
mechanisms for processing large electronic payments between companies.
Computerworld News (December
2000)
DOJ
investigating online bond brokers
Officials in the brokerage industry confirmed that some financial services
firms have received letters from the U.S. Department of Justice asking
for information about their online bond trading plans.
Computerworld News (December
2000)
Discover
follows Amex with single-use credit cards
Following on the heels of American Express Co., which released a similar
product last month, Discover Card now offers customers single-use credit-card
numbers for online purchases. Analysts, though, question whether people
actually want disposable card numbers for shopping online.
Computerworld News (November
2000)
Integration
Key to New-Style Brokerage, Study Finds
The battleground for brokerage customers has shifted away from cost, according
to a new study. Today, brokerages are competing for customers based on
service and cross-channel integration, and the trend will only increase
in 202001.
Computerworld News (November
2000)
Citigroup
Opens Online Brokerage
Citigroup launched its online brokerage last week. Called CitiTrade, it's
a stand-alone brokerage - but may be coming too late to a crowded market
where online brokers are starting to offer everything from soup to nuts.
Computerworld News (November
2000)
Oracle
partners with Citigroup for B2B exchange
Oracle Corp. becomes the third company to ally with Citigroup Inc. in
an online commerce exchange.
Computerworld News (November
2000)
Market
Valuations
Market valuation: An estimated measure by investors and analysts of a
company's worth. Valuations can be based on assets, revenue, earnings,
cash flow or other factors.
Computerworld Feature (November
2000)
Internet
Changes Insurance Back Offices
Although lagging behind other financial services, insurance companies
have begun to use the Internet to change the way they run the back office
and communicate with agents.
Computerworld News (November
2000)
Banks
Join Forces With Online Account Aggregators
Brokerages, banks and portals line up to create single points of access
for many investment accounts—and begin to embrace wireless access.
Computerworld News (November
2000)
New
SEC Rule Pushes More Firms to Web
According to a new rule from the Securities and Exchange Commission, all
investors have the right to know about news that could affect a company's
stock price. And vendors are offering all kinds of information technology
to help customers comply with that rule.
Computerworld News (November
2000)
Citigroup
Launches Electronic-Cash Service
Last week, Citigroup announced its c2it service, which will be heavily
marketed as AOL Quick Cash to America Online's 28 million users.
Computerworld News (November
2000)
Schwab
Strikes Deal With AOL
America Online has aligned itself with Charles Schwab in the largest online
marketing deal ever for the brokerage.
Computerworld News (November
2000)
XML
Gains Momentum in Financial Services Industry
Yet another XML-based standard has been added to the library of different
protocols already being developed for financial services. RIXML -- Research
Information Exchange Markup Language -- promises to make it easier for
investors to share data about companies.
Computerworld News (October
2000)
Portals
Promise Smart Way to Route Trades
Wall Street's IT professionals learned about a new kind of trading system
at a technology conference in New York City last week -- a system that
could have enormous potential in changing the way trades are placed.
Computerworld News (October
2000)
First
Data Spins Off E-Payments Company
It may be a little late getting in the game, but Atlanta-based First Data
Corp. launched a $600 million electronic-payments company last week called
eOne Global LP.
Computerworld News (October
2000)
Volunteer
brings computers to the Bedouin
IT volunteers sent by the United Nations Information Technology Services
help Third World entrepreneurs explore the Internet.
Computerworld News (October
2000)
FleetBoston
Begins Offering Virtual Safe-Deposit Boxes
FleetBoston Financial is adding a new twist to its online banking services
business: virtual lockboxes that let users store important electronic
documents in password-protected accounts.
Computerworld News (October
2000)
Nasdaq
adds two new technology executives
Nasdaq Stock Market Inc. named a new chief technology officer and a systems
engineering vice president who are expected to help with key projects
such as a conversion to decimal-based pricing.
Computerworld News (October
2000)
Nasdaq
Changes Plan To Appease Critics
Nasdaq Stock Market last week announced additional changes to its proposed
SuperMontage front-end trading system in an effort to address concerns
about the technology that have been raised by the operators of private
trading networks and other critics.
Computerworld News (October
2000)
First
Data spins off e-payments company
It may be a little late in coming to the game, but Atlanta-based First
Data Corp. has finally launched an e-payments company, eOne Global.
Computerworld News (October
2000)
Out-of-bounds
perks?
When going out on a limb in asking for new job benefits, it helps to know
how far is too far.
Computerworld Feature (04 October
2000)
Wall
Street in fog over e-signatures
The law legalizing the use of electronic signatures went into effect yesterday,
but the measure set off alarms on Wall Street last week, as executives
said they were unclear whether the law's provisions regarding how to store
documents pertained to them. That's because the Securities and ...
Computerworld News (October
2000)
Nonprofit
Hopes Third World Procurement Goes Electronic
A Washington-based nonprofit organization, the Global View Network, hopes
to bring the Internet to the Third World and its governments' procurement
systems.
Computerworld News (October
2000)
Brokerage
firms nervous about conflicts between digital signatures law and SEC rules
At a Securities Industry Association conference, attendees expressed concern
about discrepancies between the new federal law on digital signatures
and existing Securities and Exchange Commission guidelines for sending
documents electronically.
Computerworld News (September
2000)
Nasdaq
changes trading system proposal to appease critics
The Nasdaq Stock Market Inc. modified its proposed SuperMontage front-end
trading system to try to win over private trading networks that fear the
new system would discriminate against them.
Computerworld News (September
2000)
Incorporating
a great idea
Every successful company starts with a customer need. Some students find
that market niche quite naturally
Computerworld Feature (September
2000)
Banks
Release Smart Cards
The U.S. has lagged behind Europe when it comes to the adoption of smart-card
technology, but that's about to change, as three banks -- Providian Financial
Corp., FleetBoston Financial and First USA Bank N.A. -- have announced
that they will soon be releasing Visa smart cards.
Computerworld News (September
2000)
Bank
One's Wingspan Fails to Take Off Online
Bank One is folding WingspanBank.com into its other Internet offerings,
but it will keep the site as a test lab for new online products.
Computerworld News (September
2000)
Bigger
Than Y2k
Shortening the settlement cycle from three days to one, known as T+1,
promises to be more expensive for Wall Street than Y2k -- and more complicated.
CIO Kurt Woetzel says The Bank of New York still has to convert from batch
Computerworld Feature (September
2000)
Top
Banks Launch Joint Site for Corporate Clients
Seven of the world's leading investment banks have announced plans to
launch a joint financial information Web site for their institutional
clients.
Computerworld
News (September 2000)
Citibank's
Aggregation Portal a Big Draw
Banks have begun to offer customers the chance to bring all their online
financial accounts onto one screen.
Computerworld News (September
2000)
Banks
announce release of Visa 'smart' cards
Three banks -- Providian Financial Corp., FleetBoston Financial and First
USA -- have announced that they will soon be releasing Visa smart cards.
Computerworld News (September
2000)
Top
investment banks team up on financial Web site
Seven of the world's leading investment banks plan to launch a joint financial
information Web site exclusively for their institutional clients.
Computerworld News (September
2000)
World
Leaders: IT Can Ease Globalization Woes
Computerworld News (September
2000)
Amex
Unveils Disposable Credit Numbers
American Express will offer disposable credit-card numbers to consumers
who fret about online security.
Computerworld News (September
2000)
American
Express offers disposable credit card numbers for online shopping
The company announced a free service that will let Internet users who
are worried about the security of buying goods online obtain single-use
credit card numbers before making their purchases.
Computerworld News (September
2000)
Online
Bank To Offer Broadband
USABancShares.com plans to officially launch its broadband service within
the next few weeks. The service, which has already been live for a month,
offers customers all the usual bank functions - plus sound and video.
Computerworld News (September
2000)
Wachovia
to Cut 100 IT Jobs, 1,800 Total
Wachovia Corp announced plans to eliminate 1,800 jobs last week, which
it said will save $100 million in annual expenses. About 100 IT employees
will be affected.
Computerworld News (September
2000)
TV
Tower Fire Sparks Net Use in Russia
When a broadcast tower fire threw several Moscow television stations off
the air, many would-be TV viewers turned to the Internet, doubling and
even tripling traffic to some sites.
Computerworld News (September
2000)
Breakin'
up is Hard to Do
Inadequate planning can cause problems during divestitures, for the divested
unit and the parent company. Dividing - or sharing - data, supporting
IT systems for a fixed period of time and maintaining staff morale are
among issues that must be addressed to retain employees and customers.
Computerworld Feature (September
2000)
Dow
to Fire up to 40 More Employees for E-Mail Abuse
Dow Chemical Co., which had problems earlier this year with employees
transmitting pornographic e-mail, last week said it will fire up to 40
more employees because of new violations.
Computerworld News (August
2000)
Police
Arrest E-Bank Robbery Suspects
British police arrested three men last week who attempted to rob an online
bank, London's Egg. Other Internet banks were also targeted, police said,
but they wouldn't release details.
Computerworld News (August
2000)
MP3.com
inks licensing deal with Sony
MP3.com has made a deal with Sony to license Sony's catalog for use on
the MP3.com Web site. That means every major recording studio but Universal
has reached an agreement with the music site.
Computerworld News (August
2000)
EU
Plans to Approve Electronic Signatures
The European Union announced that it plans to approve a global electronic-signature
system backed by a consortium of banks.
Computerworld News (August
2000)
Nasdaq
Unveils Improved Front-End Market System
Nasdaq presented its new SuperMontage front-end system on Tuesday at a
press conference in New York. Officials said it will give traders more
information and new tools - but alternative trading systems call it unfair
competition.
Computerworld News (August
2000)
Lloyds
Bank to Spend $24 Million on CRM
Lloyds TSB Group - no relation to the insurance company Lloyd's of London
- has said it will spend $24 million on a customer relationship management
system. The retail bank said it will use Chordiant Software to develop
a system that will reach into all aspects of the bank's operations, including
its worldwide ...
Computerworld News (August
2000)
MetLife
to open online bank
MetLife said it will buy a small New Jersey bank and turn it into a nationwide
online bank -- MetLife Bank.
Computerworld News (August
2000)
Power
Brokers Race to Trade On International Markets
In the quest for overseas trading dollars, U.S. brokerages are forging
alliances at a furious pace. From Asia to Australia, these partnerships
- enabled by IP, XML and other technologies - bring local populations
the opportunity to buy U.S.-listed stocks, either online or off-line.
Ameritrade CIO Jim ...
Computerworld Feature (August
2000)
Bankers
Group Pushes Its Seal of Approval
In the wake of a recent warning by the Office of the Comptroller of the
Currency about fake bank sites conning customers out of private information,
the American Bankers Association has launched a campaign to increase awareness
of the availability of its online seal of approval for banks.
Computerworld News (August
2000)
Broker
Seeks Retail Markets
Interactive Brokers opened up its proprietary trading platform, which
traditionally served institutional customers, to the retail side in 1998.
Yet even as the company has customers in 71 countries and direct connections
to 39 exchanges in 17 countries, everyone can't buy everything - for ...
Computerworld News (August
2000)
The
Speed Of Money
Online payments have met with a great deal of resistence, but analysts
say things are starting to change. New moves by startups and banks to
close security gaps and open the doors to more businesses are helping
to speed the use of online business-to-business transactions.
Computerworld Feature (August
2000)
Unions
take aim at high-tech workers
The Verizon strike, which has entered its second week, is a high-profile
sign that organized labor wants a significant role in the New Economy.
Computerworld News (August
2000)
Online
bank aimed at truck drivers debuts
National InterBank, an Irvine, Calif-based online bank, announced the
launch of a new Internet-based bank that will let truck drivers pay bills
and process other transactions from their rigs.
Computerworld News (August
2000)
Visa
issues 10 'commandments' for online merchants
Visa U.S.A., in a push to curb online credit-card fraud, announced 10
requirements for online merchants to follow to protect cardholder information.
Computerworld News (August
2000)
Bankers
group tries to increase use of Web site seal
In the wake of a government warning about fake online banking sites, the
American Bankers Association is launching a campaign to increase awareness
of a seal of approval that it says can be used to separate the real banks
from the fake ones.
Computerworld News (August
2000)
Internet
Banks Establish Physical Presences
Setting up a virtual bank has become easier than it used to be, with Mail
Boxes Etc. acting as a virtual bank branch by accepting deposits. Other
banks and e-commerce companies are making plans to make more use of Mail
Boxes Etc.'s 3,400-branch network.
Computerworld News (August
2000)
Bank
of America Says Layoffs Coming Soon
Bank of America plans to lay off between 9,000 and 10,000 employees in
the next 12 months, company executives said last week, but will expand
investments in technology.
Computerworld News (August
2000)
Government
To Enable E-Payments
The U.S. government will be bringing together all of its payment and collection
systems under one roof - well, one domain name - this fall with the launch
of Pay.gov, a Web site dedicated to the electronic gathering of money.
Computerworld News (July 2000)
Feds
Warn of Fake Sites
Spoof Web sites that closely mimic those of real banks can fool consumers
into giving away their account numbers and access codes, warns the Office
of the Comptroller of the Currency.
Computerworld News (July 2000)
Bankers
to Offer Online IDs
The American Bankers Association has announced the launch of TrustID,
an authentication system that promises to address the problem of identifying
individuals or businesses on the Internet and to ensure that electronic
documents aren't changed after they have been electronically signed.
Computerworld News (July 2000)
Stock
exchanges submit detailed decimalization plan
The major stock exchanges and the National Association of Securities Dealers
this week filed their full plan for phasing in decimal-based pricing of
securities starting next month.
Computerworld News (July 2000)
Visa
Program to Fight Online Fraud Debuts
Amid increasing concerns about online credit-card fraud rates, Visa has
come up with a two-part plan to address the problem. The first part, a
payment-authentication program, was launched late last month. The second
part, a series of security standards that merchants will be asked to follow,
is expected to take ...
Computerworld News (July 2000)
Large
Banks Lag in Online Transactions
The rate at which customers use online banking is accelerating, says a
new report from Credit Suisse First Boston, but it's not the largest banks
that are leading the charge. Instead, two regional banks - Wachovia and
Provident Financial - have the highest online usage rates.
Computerworld News (July 2000)
U.S.
Wireless Banking Expands
724 Solutions is no longer the only player enabling U.S. banks' Web sites
for wireless access. S1 Corp. subsidiary Edify has announced that National
InterBank customers will be able to access their accounts through WAP-enabled
devices starting in September.
Computerworld News (July 2000)
Fake
bank Web sites trick consumers into giving up personal data
"Spoof" Web sites that closely mimic a real bank's can fool
consumers into giving away their account numbers and access codes, warns
the Office of the Comptroller of the Currency.
Computerworld News (July 2000)
American
Bankers Association to offer online authentication
The American Bankers Association is planning to announce the launch of
TrustID, an online identification system that's expected to be used by
banks to authenticate digital signatures.
Computerworld News (19 July
2000)
Structured
Financing
Structured finance offers an opportunity for a company to borrow money,
based on the value of a specific project or asset rather than on its own
credit rating. For example, a company building a factory can borrow money
based on the worth of that factory or on expectations of its future revenue.
Computerworld Feature (17 July
2000)
U.S.
banks joining wireless gold rush
Though online brokerages began offering customers wireless services as
long as three years ago, U.S. banks have been slow to offer bill paying,
balance inquiries and other services over mobile phones and personal digital
assistants. But that's set to change this summer, as banks begin to roll
out wireless access ...
Computerworld News (July 2000)
Chicago
Board of Trade Automates With Euro Rival
The Chicago Board of Trade plans to kick off testing of its new electronic
trading system this week. The new system, developed in partnership with
Eurex, a fully electronic, Frankfurt-based derivatives exchange, comes
at a time when the CBOT is undergoing massive restructuring.
Computerworld News (July 2000)
Banks
Market to Small Businesses
Small businesses have often been ignored in the past by larger banks,
but this is changing, according to a new report. Small-business customers
are becoming a more lucrative market, and banks are starting to offer
them a variety of ready-to-use online services.
Computerworld News (July 2000)
Survey
shows largest banks lag in online usage rates
The rate at which customers use online banking is accelerating, says a
new report from Credit Suisse First Boston Corp., but it's not the largest
banks who are leading the charge. Instead, two regional banks -- Wachovia
and Provident Financial -- have the highest online usage rates.
Computerworld News (July 2000)
Wireless
banking to become available this summer
While online brokerages began offering customers wireless access as long
as three years ago, banks have been slow to enable customers to use mobile
phones and personal digital assistants for bill payments, balance inquiries
and other services. But that's set to change this summer, as banks ...
Computerworld News (July 2000)
VirtualBank
latest to move banking off-line
Following in the footsteps of several other online financial services
firms, Internet-based VirtualBank this fall plans to start opening bricks-and-mortar
branches to serve workers at some of its corporate clients.
Computerworld News (July 2000)
Financiers
Aim to Unify XML Standards
A new financial services industry group is trying to weed through two
dozen existing XML-based financial standards to come up with one universal
lexicon.
Computerworld News (July 2000)
In
Internet First, Wells Fargo Sued Over Alleged Racial Text on Site
Wells Fargo is re-evaluating its "Community Search Service"
partner after a national community organization sued the company over
what it called "explicit racial classifications and racial stereotypes
of neighborhoods" at the end of June.
Computerworld News (July 2000)
Allstate
Kicks Off Rollout of Web Sales
Allstate Insurance will begin a national rollout of its online service
in July after a successful "soft launch" in Oregon in May. The
move prompted a massive reorganization, including shifting 6,000 full-time
agents into independent contractor roles.
Computerworld News (July 2000)
J.
P. Morgan IT Exec Loosens Grip on Services
The fast pace of technological change is causing many companies to rethink
their businesses. At J. P. Morgan, Veronique Weill is doing that type
of thinking. And her thinking is: J. P. Morgan should be managing assets
- not technology - so it is outsourcing with the Bank of New York.
Computerworld News (July 2000)
Citibank
Calls It Quits for Online-Only Bank Service
Citibank will close down its online-only bank, Citi f/i, and fold some
of the features from that business unit into the online arm of its regular
banking service, Direct Access.
Computerworld News (July 2000)
Allstate
to begin national rollout of online insurance sales
After testing the concept in Oregon, Allstate Insurance Co. plans to begin
selling insurance directly to consumers via the Internet on a national
basis.
Computerworld News (June 2000)
Bankrolling
e-commerce
E-commerce projects pose unique challenges when it comes to securing financing,
including whether it makes more sense to finance a project internally
or spin it off from the company and seek venture capital backing. But,
in other ways, the process is simpler.
Computerworld Feature (June
2000)
Chase
Unveils Plan to Offer Banking Portal
Chase Manhattan became the first major bank to offer its customers a way
to organize all their financial accounts in one place on the Web, regardless
of where the accounts are held. Now, every bank will have to offer a "banking
portal," analysts say.
Computerworld News (June 2000)
Net
Bond Marketplace Going to Prime Time
Online bond trading has been lagging significantly behind stock trading,
but two new ventures suggest the gap might soon start to close.
Computerworld News (June 2000)
Banks
Launch Effort To Purge Paper Checks
Converting check information to bytes would save effort for banks, reduce
fraud.
Computerworld News (June 2000)
Subordinated
Debt
The business equivalent of a second mortgage, often used for corporate
buyouts or acquisitions. The stakes are high, because if a company goes
bankrupt, subordinated debt lenders are at the end of the line when assets
are divided up. As a result, interest rates are high, and subordinated
debt providers are highly ...
Computerworld Feature (June
2000)
Cross-Border
Transactions Get Online Lift
June has been a watershed month for the international payments arena,
as alliances and new platforms have pushed the nascent field of electr |
