Archive for the ‘Finance’ Category

Taming TCO in the financial services industry

File transfer is more than a given at the average financial institution. The Financial Services Industry (FSI) thrives on information and devours it. In one day you might send and receive files in and out of the office, down the street and across the globe, and back and forth with agents, clients, brokers and more. [...]

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Online security in the financial services sector is a risky business

Imagine hundreds of billions of dollars vanishing right before your eyes. Well that’s exactly what happened yesterday when someone caused the stock market to temporarily crash by hacking into AP’s Twitter feed and tweeting about a White House bombing that never happened. Unfortunately, hacking, intrusions, phishing and Internet fraud are just some of the malicious [...]

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Modernization and consolidation worth it for major financial services group

As Northern Europe’s largest financial services group, Nordea’s customers expect it to provide comprehensive, cost-efficient solutions. With set of disjointed, often duplicated file-based transaction solutions and a fragmented infrastructure, something had to give. Costs were too high. After an extensive review of many solutions, Nordea opted to go with SEEBURGER’s Business Integration Server (BIS6). The [...]

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Financial services firms, banks and cultural change

Last year’s Barclay Bank Libor-rigging scandal was likely caused by cultural problems following a speedy expansion, according to a recent BBC News article. A study found the financial services firm’s strong culture of winning, siloed departments with different values, and lack of emphasis on customer and client needs led to the breakdown. The simple fact [...]

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Banking software faces rising glitch rate and “tech debt”

As banks face a growing number of costly incidents, it begs the question, why? According to a recent BBC News article and our own experience—the answer lies somewhere between an overdependence on antiquated code, complex line-of-business and geographical variations, mass mergers and acquisitions, tighter SLAs and changes in data transfer patterns. Testing alone won’t be enough [...]

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