Technology & Finance

Wednesday, October 31, 2007

Unified Communications -- IPC Enters the Game

IPC has launched Nexus Suite, an open, flexible, end-to-end communications platform for the trading floor.

With IPC’s Nexus Suite, traders can collaborate with peers, counterparties, and back-office personnel, switching back and forth seamlessly from one application to another using voice, IM (Instant Messaging) and video across numerous devices, making it easier for the trader to multitask.

Still no word on an interface to carrier pigeons, however.

With Nexus Suite, traders can make faster, more accurate decisions, increasing productivity and guaranteeing their clients constant access to liquidity.

Aite Looks at State Regulatory Initiatives in Financial Services

The Aite Group report, titled “Looking Ahead: An Analysis of Pending State Legislation and Financial Institutions,” reveals that the 50 U.S. states, during the current legislative sessions, are continuing to focus on hot-button issues such as identity theft, mortgages and mortgage lending, credit card issues and payday lending. Banks, credit unions and other financial service providers should expect consumer protection issues to remain on the agenda.

In one area after another, from environmental protection to consumer protection, the Bush administration is failing the country, so states have to pick up the slack. Just recently the head of the US consumer protection sent a letter to Congress asking for fewer resources than were planned in a bill—this even after the furor over lead-coated toys from China. Aite says the state’s have a host of measures for consumer protection in finance.

“Consumer protection has largely fallen into the hands of the state legislature,” says Eva Weber, analyst at Aite Group and author of this report. “While concerns over the current economic climate and the possibility that subprime mortgage lending will lead the country into recession have resulted in saber rattling by the U.S. Congress and federal regulators, several states are already putting laws in place to protect their citizens.”

Financial Insights on Trade and Treasury Automation -- Nov 1 Webcast

Join Maggie Scarborough, Research Director for Corporate Banking at Financial Insights, and representatives from Fiserv, FNX Capital Markets Solutions, and CSI BankTrade as they examine the driving force behind bank trade and treasury services, how institutions are implementing these solutions and the value of integration and scalability to improve efficiency while minimizing operational risk. Registration required, open to financial institutions only. Enter Meeting Number 754859012 to register at http://www.fiservcbs.com/events.

Tuesday, October 30, 2007

Metavante Prepares for Spinoff by Announcing Bd of Directors

Metavante, a wholly owned subsidiary of Marshall & Ilsley Corporation that will become a publicly traded company, has announced the election of ten members of its Board of Directors.

After the completion of the spin-off from M&I, which is currently expected to occur Nov. 1, Metavante’s board of directors will be composed of: Dennis J. Kuester (Chairman of the Board), Frank R. Martire, Michael D. Hayford, Ted D. Kellner, David A. Coulter, L. Dale Crandall, Stephan A. James, Dianne M. Neal, James Neary and Adarsh Sarma.

Major Church Insurer Goes with Insurity

GuideOne Insurance, one of the nation’s largest church insurers, has chosen Policy Decisions for Personal Lines from Insurity to replace a system that had been developed in-house.

“Insurity’s ability to implement multivariate rating was a key reason for the change,” said Liz Myers, GuideOne’s assistant vice president for personal lines. “The new system will provide automated, real-time underwriting and rating incorporating GuideOne’s guidelines,” Myers said.  “Agents will be able to quote, bind, and issue new auto and homeowners policies via our Web portal.  And they’ll be able to print policies right in their offices.” Because the system is flexible, she added, it will enable the company to react more quickly to market changes.

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