What You Don’t Know Will Hurt You
Each day investors wake up to more bad news in the financial markets. Worse yet, many thought their assets were safe, only to find out that the financial crisis is hurting even low-risk investments.
Mobile Apps Are Gaining Respect, Flexibility
Mobile applications and the people in charge of them are gaining more Street cred, according to Todd Christy, chief technology officer at Pyxis Mobile, a provider of wireless applications for the financial industry that counts Blackstone Group, Deutsche Asset Management and OppenheimerFunds among its customers. "Mobility is becoming a first class citizen in corporate America," he says. "We're seeing more chief wireless officers on Wall Street -- at least a half dozen firms have appointed someone
Poor CDO Pricing Brought Bear Stearns Down
What was the one fatal blow that caused Bear Stearns' suddden demise? Its inability to properly price collateralized debt obligations, according to a report issued by Financial Insights today.
Identity Fraud on the Decline
Despite the hype, identity fraud is on the decline, according to a new survey. But as fraudsters return to traditional channles, such as phone lines, to steal the trusting public's personal information, few financial instituions have implemented multifactor authentication for telephone banking.
Could Technology Have Saved Bear Stearns?
Although a full autopsy has yet to be performed on Bear Stearns, reason and common sense suggest that state-of-the art technology might have helped the firm circumvent some of its troubles. Here are a few examples.
Deutsche Bank Has Eye on Smart IT Spending
Facing a down market, Deutsche Bank is investing in technologies to improve efficiency, such as virtualization and SOA, without losing sight of the customer experience.
The Principal Saves Costs By Printing on Demand
The Principal Financial Group, a provider of retirement and investment services, life and health insurance and banking with $311.1 billion in assets under management, has turned to print on demand software to streamline and reduce costs in generating and printing 401(k) statements and marketing collateral.
Getting That Single Version of the Truth on Wall Street
After years of talking about it, Wall Street firms finally are creating unique customer IDs, integrating data sources enterprisewide and building the long-coveted single view of the customer. The result? Better customer and performance reports, streamlined audits, enhanced customer service and improved detection of new business opportunities.
Turquoise Hires Former LSE Compliance Manager Werner
Werner says Turquoise wants to set standards in terms of quality of technology and client service, as well as setting the bar for best practices in compliance, surveillance and adherence to regulatory guidance.
Rosenblatt Hires Kannan as CTO
Kannan says sourcing liquidity as new venues are launched and making them available to clients keeps Rosenblatt motivated.
NYFIX Hires BSE’s Richardson
Richardson, who is currently EVP at the BSE, will join NYFIX when Nasdaq's acquisition of the BSE is completed. In his new position, he will oversee management of the company's electronic execution products and services, including the Millennium ATS dark pool, and the soon to be launched Euro Millennium dark pool.
BioPassword Monitors Rhythm of Typing
Authentication provider adds improved monitoring and reporting capabilities to its authentication platform, which monitors the typing rhythm of users.
Credit Crisis Places IT Budgets in Question (Again)
The subprime mortgage mess and credit crunch are impacting financial firms' IT budgets in different ways. But if the multibillion-dollar write-downs continue, one thing is for sure: Technology budgets will be in flux for the remainder of the year.
Wealth Management Firms Need Tech Upgrade
As 73 million baby boomers begin to hit retirement in 2008, a massive shift is occurring from accumulation of wealth to distribution, according to a report from Celent. But in order to effectively serve retired clients, wealth management firms are going to need to upgrade their technology.
Column-Based Databases Making A Wall Street Comeback
The last time I met with Sybase, it was back when the big three database vendors were Informix, Oracle and Sybase - remember the 90s? This week, Gavin Quinn, FSI business development manager at Sybase, says the company is seeing a resurgence of interest in its high-speed, column-based databases among hedge funds and financial institutions.