Is this the worst fraud detection system ever?

Is this the worst fraud detection system ever?

Does Barclaycard have the worst fraud detection system ever?

That’s certainly what an acquaintance of mine thinks after having his card cloned in December.

Banking software market: more M&A to come

Broadridge HQ

As 2014 was drawing to a close, a handful of takeovers in the banking software space were announced but went under the radar. SS&C bought rival DST Global Solutions for $95 million, bringing rival investment management systems under one umbrella, whilst loss-making 3i Infotech shed its investment management software business in the UK to an Italian outfit, Objectway.

What does the future of the bank branch hold?

NCR video ATM ©NCR

Is the branch dead? On evidence of the RBR Branch Transformation event held in London, the answer is a resounding no. Banks from around Europe lined up to discuss how they are transforming their branch experience to meet the demands of the modern retail customer, and while the consensus is that branch networks are shrinking, the branch remains integral to customer acquisition and retention, as well as for generating product sales.

Moral tax evasion?

Jean-Claude Juncker

Is it right to minimise your tax bill legally? Should you ignore incentives inadvertently built into complicated tax systems and effectively volunteer more assets to the government, to spend according to its own political priorities?

BAI Retail Delivery 2014: the inside track

BAI Retail Delivery, Chicago. Source: wikipedia

Technology is only as good as the people and processes around it. The BAI Retail Delivery session, entitled 'Technology as an enabler for operational excellence' and centred around panellists sharing their experience on when and where to apply IT to benefit the bank's operations, quickly became focused on the necessity of the people and the processes being ready.

Is the US core banking sector finally saying yes to outsiders?

Statue of Liberty. Source: featherboa

The US core banking software sector has always been notoriously difficult to gain a foothold in for the non-domestic vendors. The local heavyweights – FIS, Jack Henry and Fiserv – have over the years acquired smaller players and have ended up with numerous systems under their corporate umbrellas. These companies have also been traditionally close to the regulators, making the case for a bank or credit union to select a non-US vendor difficult to justify.

What's the deal with Finacle?

Infosys swimming pool, Bangalore.

I ask the question just after news that its erstwhile head, Haragopal Mangipudi, left Infosys to be replaced by SAP veteran Michael Reh. This was the first senior change carried out by Infosys' new CEO, Vishal Sikka, who joined the company in August.