New channels of electronic communication have been a boon to many industries, opening up sales and marketing opportunities, helping improve customer service and speeding up innovation and collaboration. For Wall Street, however, the benefits of technology such as Twitter have to be weighed against the compliance pains. Twitter, launched by San Francisco-based Obvious in late […]
All A Twitter Over Twitter Read More »
OppenheimerFunds used to have a data entry efficiency problem. Address changes that customers made on its Web site had to be manually re-entered into a variety of back-end systems before they went into effect.
OppenheimerFunds gets return on investment from Agile, SOA Read More »
OppenheimerFunds used to have a data entry efficiency problem. Address changes that customers made on its website had to be manually re-entered into a variety of back-end systems before they went into effect. “Our business was growing — that was the good news,” said Geoff Youell, the firm’s assistant vice president of architecture. But due
OppenheimerFunds Gets Return on Investment from Agile and SOA Read More »
New channels of electronic communication have been a boon to many industries, opening up sales and marketing opportunities, helping improve customer service and speeding up innovation and collaboration. For Wall Street, however, the benefits of technology such as Twitter have to be weighed against the compliance pains. Twitter, launched by San Francisco-based Obvious in late
Are Firms Ready for Twitter? Read More »
Music industry groups have called the popular Chinese search engine Baidu “the largest and most incorrigible purveyor of pirated music in China.” Other organizations backing the initiative include the China Audio-Video Copyright Assn. and the International Federation of the Phonographic Industry, along with local and international record labels including EMI Music Publishing, Universal Music, Sony
Music industry allies against Baidu Read More »
This article originally appeared in The Hollywood Reporter. Beijing courts promised heavier fines for Internet cafes that allow patrons to illegally download movies, laying down harsh fines for offenders, state-run media reported Thursday. The new rulings are part of a trend toward greater enforcement of intellectual property rights in China. The judge in the Beijing
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Virtualization, in one form or another, has been around almost as long as computers. When the term arose in the 1960s, it referred to the partitioning of mainframe computers. But virtualization soon became a way to let people stop worrying about the inner workings of their hardware. In the earliest days, to put something in
Wall Street Expanding Virtual Horizons Read More »
Salesforce.com reached a milestone last fall: 1 million people using the online software company to host their customer relationship management systems and other key business processes. Those users were at more than 1,600 financial services firms including ABN Amro, SunTrust Banks, Daiwa Securities and Bear Stearns–Merrill Lynch & Co. alone accounted for 25,000. That amounts
Software as a Service as a Security Battleground Read More »
Dividing a server into multiple virtual machines has brought down firms’ purchasing costs and allowed for more efficient use of existing hardware. However, virtualization also poses security risks and challenges, including managing a more complex network, additional layers of technology, potential data leaks as multiple virtual machines share common communication lines, and the threat of
Server Virtualization: Powerful Tool, Extra Exposure Read More »
Firms answer regulatory, investor demands with added controls and third-party systems At the heart of Societe Generale’s recent EUR4.82 billion ($7.01 billion) in losses from unauthorized trades is the fact that the accused trader–Jerome Kerviel–was able to use his knowledge of the system to get around the checks and balances. Kerviel, an equities trader, started
Pre-trade Compliance: Better, Cheaper, Faster Read More »
Leading-edge collaborative tools and interactive sites pose monitoring burden As the Web 2.0 movement makes interactive applications and social networks such as Facebook ubiquitous on employees’ desktop computers, financial firms are facing the daunting task of monitoring these so-called greynets. Instant messaging security vendor FaceTime Communications estimates that there are more than 600 greynets worldwide,
The Web 2.0 Threat Read More »
A few years ago, it would have been hard to imagine Wall Street firms turning over key customer data to an Internet start-up. But in May 2005, Salesforce.com announced a major customer win: 5,000 Merrill Lynch & Co. financial advisers would use the Web-based service to track their customers. After a one-year pilot project, Merrill
Salesforce.com: The CRM ‘Hot Ticket’ Read More »
Despite connectivity issues, regulatory hurdles and liquidity barriers, traders are eager to try out algorithms. Electronic trading and the use of algorithms in Asian markets continue to grow despite regulatory hurdles and technological bottlenecks. According to Goldman Sachs, the value of client-directed trade orders executed through algorithms during 2007 more than tripled in Japanese equities
Waters Exclusive: Asia Report Read More »
Article originally published in Insurance Networking News. Patrick Snowball, executive director of Aviva UK, flew down to Mumbai, India in February to accept an award from the Indian software industry. But India’s National Association of Software and Service Companies (NASSCOM) wasn’t lauding the insurance giant for the jobs it was moving to outsourcing firms on
Build-Operate-Transfer Plan Brings Outsourced Jobs In Read More »
SHANGHAI — In the first 10 months of 2006, Chinese regulators uncovered 776 banking crimes, including 205 cases involving more than 1 million yuan ($125,000 U.S.). Fraud and other irregularities at Chinese banks added up to $95.9 billion in 2005, an increase of 31% from 2004, according to the China Banking Regulatory Commission. In one
Banking on IT in China Read More »
