Insider Fraud An Issue For FIs
A survey conducted by
Other findings included:
* 64% said the risk of insider fraud is "very high" or "high" within their organizations.
* Most respondents said that CEOs and other C-level executives may be ignoring the threat.
* The majority of insider fraud incidents go unpunished, leaving organizations vulnerable to future such incidents.
* The majority of respondents do not believe their organization has the appropriate technologies to prevent or quickly detect insider fraud, including employees' misuse of IT resources.
For info: www.attachmate.com
Turning ATMs Into Marketing Tools
The white paper, which is available as a free download, was written by
He said financial institutions of all types and sizes can use affordable ATM branding to increase consumer awareness, attract new members/customers, promote products and services and increase ATM fee income.
In the report, Ettesvold details how the use of ATM topper signage with compliance information built-in can protect financial institutions from costly ATM fee disclosure lawsuits, which have been making headlines.
"At less than
For info: www.expresstellerservices.com
White Paper: Four Common Mistakes CUs Make Online
"Credit unions are held to many of the same regulations governing the big banks and the way they advertise their products and services," writes the white paper's author, Compliance Officer
With open media such as websites, PolicyWorks said an innocent oversight or simple ignorance of the rules is broadcast to any number of people watching for mistakes. In the white paper, Woodmansee addresses common missteps made by credit unions, as well as ideas for quickly rectifying mistakes.
For info: www.policyworksllc.com/white-papers.cfm
Study: Retail Banking IT Spending On Rise Amid Economic Turmoil
"The technology investments will be mainly driven by the need to grow revenues but the changing regulatory compliance will also contribute significantly," said
Ovum said this focus will lead to accelerated investment in channel technology, predominantly online banking, which will become the fastest growing area globally in 2012, rising 5.3%, to hit
"Technologies that allow 'smarter' selling and servicing, such as customer analytics and customer data management, are expected to remain hot areas in the near future," said Knapik. "
With risk and compliance permanently on the CIO agenda, ever-increasing regulatory expenditure, which in 2012 will be predominantly related to Dodd-Frank and Basel III, will drive investments into technologies that reduce costs, such as data management, business process management, business intelligence, and analytics.
For info: www.ovum.com
Deposit Interest Rates Dropped 26% In 2011
The greatest drop in rates occurred in checking accounts, which declined 41 BPs to 0.07% by the end of 2011. CDs of one-to-three years declined 28 BPs to 0.59% by the end of the year.
Smaller drops in rates were registered for long-term CDs, those years and over (down 18 BPs); MMAs (down 15 BPs), and short-term CDs (down 13 BPs).. The only deposit type that exhibited a mild increase in interest rates was savings, which increased 3 basis points during 2011, Market Rates Insight reported.
For info: www.marketratesinsight.com
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