307 Results
Paul Penrose Head of Research at Finextra
Fidelity National Information Services has disclosed an embarrassing instance of data theft by an employee of its Certegy payments processing subsidiary. The misappropriated information included names, addresses, and telephone numbers as well as, in many cases, dates of birth and bank account or credit card information. Approximately 2.3 million re...
03 July 2007 /security /retail
The McKinsey Quarterly has bagged an interview with Diane Schueneman, the head of Merrill Lynch's Global Infrastructure Solutions unit. The new division combines the firm's IT and operations arms. Schueneman explains how this integration has led the company to set new and ambitious goals for its combined operations and IT units and how it is build...
02 July 2007 /wholesale
Rich Marin, the embattled head of Bear Stearns asset management arm, was forced to step aside Friday in the wake of the near-collapse of two hedge funds associated with his division. He remains with the firm in an advisory capacity. Marin’s fate was finally sealed after the New York Times took pot shots at him for taking time off to go to the movie...
02 July 2007 /regulation /wholesale
HSBC, the 2006 winner of the FT's sustainable banking awards, has committed a further US$90 million over five years to reduce the bank’s impact on the environment through a series of initiatives, including the introduction of renewable energy technology, water and waste reduction programmes and employee engagement. The impact of HSBC’s environment...
29 June 2007 /retail Going green
Kevin Anderson reports for the Guardian IT on an exercise organised by the Economic and Social Research Council to consider what sort of world the interplay and advances in nanotechnology, genomics, information technology and cognitive science might create. The policy wonks considered four possible visions of the future – two positive and two ne...
29 June 2007 /retail /wholesale Futuristic Banking
At last some positive news from overseas for Bob Greifeld and the Nasdaq stock market. The decision by Hong Kong Exchanges and Clearing Limited to extend by five years a technology support deal with OMX will ease fears that Nasdaq’s proposed take-over would dent technology sales at the Nordic market operator. OMX currently provides exchange tech...
26 June 2007 /wholesale
John Shepherd-Baron, the former De La Rue executive credited with inventing the first ever cash machine back in 1967, now believes that the ubiquitous ATM will be made redundant within the next three to five years by the demise of paper cash. Inspiration for the idea of a cash dispensing hole in the wall first struck Shepherd-Baron while he was in...
25 June 2007 /payments /retail Trends in Financial Services
Ever wonder what it’s like to have your identity stolen? Fighting back now, an identity theft Web log set up by Karen Lodrick relates an everyday personal story of identity theft, the lackadaisical attitude of her bank – Wells Fargo – and the grim financial consequences. Six months later and Karen is still dealing with the fall-out from the aff...
25 June 2007 /security /retail
Consumer confidence in the retail banking industry has "eroded significantly", with an overwhelming majority of UK customers - 71% - saying they do not trust their banks, according to research released by Unisys. This is quite some turnaround from the early 90s, when banks were perceived as the most trusted institutions in Britain. A ras...
22 June 2007 /retail Trends in Financial Services
Visa has partnered with Burger King to promote the use of plastic cards instead of cash in the fast food sector. Over the next three months Burger King customers paying for meals with Visa will qualify for a free meal on every tenth purchase. Nice to see Visa doing its bit to fight the scourge of obesity and encourage healthy lifestyle options amon...
21 June 2007 /retail Whatever...
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