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Seeking a leadership role in defining biometric identification law, the California Bankers Association is backing a bill to deter high-tech identity theft. The association joined with the Los Angeles-based Center [...]

Private networks with dial-up home banking services are not being written off by banks even though the Internet and the World Wide Web seem to be threats to this form of service. However, according to a study by Meridien Research Inc of Needham, MA, between 20% and 30% of the 2.3 mil in the US who bank from home do so on the Internet. A majority of the customers of 400,000 Wells Fargo Bank PC customers now use the Web for bank services., The Internet has threatened to engulf and overwhelm the old-style dial- up methods of home banking, but private networks are not being written off quite yet. Even as an increasing [...]

By LUHBY, TAMI Regulators have brought formal actions against at least a dozen financial institutions they say have fallen behind in their year-2000 preparations. The Office of the Comptroller of [...]

Speech recognition took a small step forward last week when four companies announced that they had formed a V-Commerce Alliance to promote the technology for electronic commerce. Visa International and [...]

Centier Bank's trust department has seen little growth over the past few years. But Robert Scott, a senior vice president at the $766 million-asset bank in Whiting, Ind., said he [...]

Internet banking initiatives are getting more respect from bank technology budgeters but perhaps not enough attention from strategic planners, a survey said. Banks are increasing the proportion of their technology [...]

Going beyond the call of duty in dealing with the year-2000 problem, Amsouth Bancorp. said it has set aside $9.5 million as part of its loan- loss provision. The move [...]

The rapid growth of Internet users requires that technology be a key driver of business strategies, Arthur Kranzley, senior vice president of electronic commerce at MasterCard International, said last week. [...]

People applying for mortgages on a Web site often give up, finding on- line applications too long and too hard, experts say. To hang on to such prospects, an Internet-only [...]

If current tests proceed as expected, automated teller machines may one day ask customers to stare deeply into their eyes-or rather, their cameras. England's Nationwide Building Society is pilot testing [...]

Though micropayments over the Internet have not gained a following in the United States, National Westminster Bank is trying to make them a viable business in England. A service that [...]

Wells Fargo & Co. is giving 80,000 of its clients, mostly small businesses, another reason to pitch their products over the Internet. The San Francisco banking company is offering clients [...]

After work one evening, officials at Pacific Southwest Bank in Corpus Christi, Tex., set the bank's telephone system to 2000 to see whether it could handle the century date change. [...]

Users of Intuit Inc.'s Quicken personal finance software must prove they have suffered specific year-2000-related injuries before suing the company, a California judge ruled last week. Santa Clara Superior Court [...]

Vanguard Group is promoting its on-line services by helping people get on the Internet. The Valley Forge, Pa.-based mutual fund company has teamed up with Concentric Network Corp. to send [...]

Bank technology vendors are feeling the effects of the new millennium a little early. Some are suffering, as banks prioritize year-2000 fixes over less critical technology projects. Others are benefiting, [...]

Money managers for high-net-worth and institutional clients are gradually putting their trust in the Internet. Several trust companies large and small are letting customers tap into account information over the [...]

In retreating from the Internet payments business, First Virtual Holdings Inc. is encouraging its 2,000 active merchant accounts and 60,000 consumers to become Cybercash Inc. customers. The move could help [...]

Few glitches were reported Monday in a test by the Securities Industry Association designed to take year-2000 compliance to a higher level. The SIA said fewer than 1% of the [...]

Chase Manhattan Bank's effort to conduct electronic data interchange over the Internet is going under. Down under, that is. The bank has started processing financial EDI-which combines payments with remittance [...]

Banc One Corp. has turned over some of its education loan originations to an outsourcer. The $124 billion-asset company is the second in four months-Crestar Financial Corp. was the other-to [...]

Financial executives foresee a harder time getting regulators to sign off on their year-2000 preparedness as the fateful year comes near. Ninety-three percent of banks, thrifts, and credit unions passed [...]

The number of people investing on-line may have reached a peak, even as home banking continues to grow, according to a recent study by Inteco Corp. The Norwalk, Conn., research [...]

A group of international financial regulators has created a Web site to track the progress of financial institutions around the world in achieving year-2000 compliance. Besides helping to ascertain the [...]

More than a year after announcing it would test an Internet-based substitute for checks, and seven months behind its original schedule, the Treasury Department has transmitted the first two E-checks. [...]

First Union Corp. said it expects its new data warehouse to increase revenue by more than $100 million annually. In early May the $220 billion-asset banking company launched the enterprisewide [...]

Small banks are increasingly outsourcing the job of originating consumer loans, trading face-to-face customer contact for high-tech service. The trend has taken off recently, spurred by competition from bigger banks. [...]

Canadian Imperial Bank of Commerce is joining a list of heavy hitters in syndicated lending by adopting Advanced Information Resources' commercial loan processing software. The vendor's Advanced Commercial Banking System, [...]

Retailers are discovering that online business can be lucrative, as witnessed by Egghead Computer. Egghead has closed its 80 stores and is focusing on its Web site and its electronic commerce operation, which has become the main business of the firm. Other retailers have discovered that electronic commerce can be lucrative, which may result in more retailers joining the Web., When Egghead Computer launched its World Wide Web site in 1996, company officials had no idea how soon it would turn their world upside down. The 14-year-old software retailer announced [...]

Rewriting computer code is not the only-nor the most difficult-part of the looming year-2000 problem, experts are saying. The software programming challenge, what some call remediation, 'is 10% of the [...]

Small banks may have found a way to use their size to advantage on the Internet. Several of them are setting up World Wide Web sites with links to businesses [...]

After a year of testing, Equifax said, it has determined that artificial intelligence can improve significantly the chances of fighting check fraud. The check services division of the Atlanta credit [...]

DLJdirect, Donaldson, Lufkin & Jenrette's Internet-based on-line brokerage, has rolled out a mortgage operation in conjunction with the on-line mortgage broker E-Loan Inc. DLJdirect's World Wide Web site now supports comparisons of mortgage rates from major national mortgage lenders and supports on-line mortgage applications. In addition tot he new mortgage service, DLJdirect offers an asset management account, automated teller machine withdrawals, checking, and a credit line.

Speech recognition took a small step forward last week when four companies announced that they had formed a V-Commerce Alliance to promote the technology for electronic commerce. Visa International and [...]

A survey by the Melior Group for SEI Investments shows more than half of all banks would like to outsource some trust products, while over one-third will outsource all trust operations if they could. This is because trust systems run in-house are not cost effective. Centier Bank projects outsourcing will increase the trust dept's assets-under-management and revenues by as much as 20%., Centier Bank's trust department has seen little growth over the past few years. But Robert Scott, a senior vice president at the $766 million-asset bank in Whiting, Ind., said he [...]

Internet banking initiatives are getting more respect from bank technology budgeters but perhaps not enough attention from strategic planners, a survey said. Banks are increasing the proportion of their technology [...]

To educate legislators and the public on advanced identification methods based on physical characteristics, four manufacturers of the technology announced the formation last week of a trade association. The International [...]

Amsouth Bancorp. has boosted its loan-loss provision by $9.5 million, as part of the bank's plan to deal with potential year-2000 problems. loan-loss provision.The move appears to make Amsouth the first banking company to explicitly and publically acknowledge that year-2000-related computer problems could lead to defaults by borrowers., Going beyond the call of duty in dealing with the year-2000 problem, Amsouth Bancorp. said it has set aside $9.5 million as part of its loan- loss provision. The move [...]

The rapid growth of Internet users requires that technology be a key driver of business strategies, Arthur Kranzley, senior vice president of electronic commerce at MasterCard International, said last week. [...]

WebLine Communications Corp of Burlington, MA, has created a teleweb service that will allow mortgage customers to use a panic button when navigating the World Wide Web for mortgage applications. The new system will be launched in Oct 1998 by American Finance and Investment Co of Plantation, FL. Separate telephone and computer lines are needed for the system which is being tested by a number of companies., People applying for mortgages on a Web site often give up, finding on- line applications too long and too hard, experts say. To hang on to such prospects, an Internet-only [...]

KeyCorp has become the first major bank to allow customers access to realtime account information through computers, ATMs and other channels. KeyCorp has almost 1,000 branches in 14 states and 2,600 ATMs in 17 states, but since it uses a single computer platform, even a traveling customer should have up-to-date information available., Emphasizing something other banks have made a low priority, KeyCorp announced Wednesday that customers wherever it operates can get real-time account information through all types of channels. For example, an [...]

An English financial institution has become one of the first to pilot test a biometric customer identification system. Nationwide Building Society testing an automatic teller machine which scans customers' irises using technology from Sensar Inc. of Princeton, N.J. Several other banks, including Citicorp, are testing such systems., If current tests proceed as expected, automated teller machines may one day ask customers to stare deeply into their eyes-or rather, their cameras. England's Nationwide Building Society is pilot testing [...]

Banks must test all their equipment to see which programs cannot handle the year 2000 date change by the end of 1998 in order to ensure there is enough time to fix any problems. Banks must carefully test and retest each system, and retain testing documents to show regulators, customers, and shareholders in case of a lawsuit., After work one evening, officials at Pacific Southwest Bank in Corpus Christi, Tex., set the bank's telephone system to 2000 to see whether it could handle the century date change. [...]

Santa Clara (California) Superior Court Judge John F. Intuit Inc. dismissed a class action lawsuit against Intuit. The lawsuit was brought against Intuit on the basis that its Quicken personal finance software has the Year 2000 transition problem, which the lawsuit claims is an actionable defect. In dismissing the lawsuit, the judge ruled that plaintiffs can only sue on the basis of an actual injury caused by the defect., Users of Intuit Inc.'s Quicken personal finance software must prove they have suffered specific year-2000-related injuries before suing the company, a California judge ruled last week. Santa Clara Superior Court [...]

North Dallas Bank and Trust Co. is embedding Ignite Sales Inc.'s Money Match software program, which supports online financial planning, in its under-construction World Wide Web site to encourage Internet users to continue to return to the site. North Dallas Bank senior executive vice president and chief financial officer Sam Renshaw says the $500 million-in-assets bank, which wants Internet users who hit the site to come back repeatedly, is using Money Match to make the site more enticing., Facing the common question of how to make Web site visitors return for more, North Dallas Bank and Trust Co. turned to Ignite Sales Inc.'s MoneyMatch program. 'We were looking [...]

The Federal Reserve System plans to boost its inventory of cash from $150 billion to $200 billion in order to keep adequate reserves in light of the Year 2000. The Fed believes that many depositors may make a run on banks to drawout extra funds in anticipation that the Year 2000 transition problem for computers my disable automated teller machines on Jan 1, 2000., The Federal Reserve System is socking away some extra cash for the year-2000, just in case depositors withdraw additional funds for the century date change. The Fed is placing an [...]

A Simba Information Inc.-conducted study on World Wide Web sites engaged in electronic commerce reveals that Web sites and electronic commerce companies serving the market have created a symbiotic relationship to boost Internet traffic. Search engines and content providers are striking deals with electronic commerce companies offering online retailing to attract Web surfers to their sites., Electronic commerce companies and content sites are joining forces to increase Internet traffic, a recent Simba Information Inc. study has found. In the past year, several content providers and search [...]