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Everyone's Back Office Is Someone Else's Front Office: A Carretek Perspective on Offshoring of Back Office Business Processes
Carreker Corporation Dallas and Majesco Software Inc., a wholly-owned US subsidiary of Mastek Limited Mumbai have formed a new company named Carretek LLC to help banks define and implement a path to accessing the benefits of offshore outsourcing offshoring. The company's early emphasis will be on Business Process Outsourcing BPO,...
Transforming Your Back Office: Securing a Competitive Advantage With Offshore Business Process Outsourcing
The primary reason financial institutions consider offshoring business processes today is labor arbitrage - getting the job done cheaper by qualified, but less expensive workers in other countries. Significant as it is, however, expense reduction is an embryonic opportunity related to offshore outsourcing. Waiting in the wings are more far-reaching...
Rules-Based Check Fraud Systems Offer Community Banks More Than Fraud Savings
Banks can tailor a rules-based fraud detection system to adapt to the varying fraud schemes that they are experiencing or to those that may be more prevalent in their particular market or geographic region. This article points out and briefly discusses how rules-based fraud detection systems can dramatically improve a...
The Domino Effect of Check 21: Paving a Path for Banks to Redefine and Reclaim the Payment System
Domino theories are invoked when a seemingly simple or isolated event is predicted to provoke a series of reactions whose cumulative effect is both momentous and distant from the original event. The enactment of Check 21 has entrained such a series of events in the payment system. These events can...
Wanting In or Wanting Out
When it comes to the organization, who is wanting in and who is wanting out? Starting with shareholders, when more people are wanting in than wanting out, the prospects are very good that the stock price will climb. On the other hand if you have a number of shareholders who...
Revenue Enhancement - Time to Change to a More Successful Route to Increased Revenues?
This paper lists down the common initiatives attempted by banks, to enhance revenue which often does not yield the expected results. It notes that to create sustainable incremental revenue streams, banks need to implement tactical pricing strategies that take account of the value exchange between bank and customer, the drivers...
Rules for Central Governance - Practices for Community
Organizations with strong central control and governance are designed to eliminate chaos, reinforce consistency, execute a singular set of head office strategies, and follow the rules. That structure intends efficiency and rationality and often scales well to establish regional, national or even global reach. In the process it may stifle...
The Domino Effect of Check 21
Domino theories are invoked when a seemingly simple or isolated event is predicted to provoke a series of reactions whose cumulative effect is both momentous and distant from the original event. The enactment of Check 21 has entrained such a series of events in the payment system. These events ?...
The Checkless Society
Don't look now, but checks are checking out: The long-heralded "checkless society" is now within America's grasp. And while no one expects checks to disappear overnight, the long-term implications for banks are substantial. Legislation signed into law late last year and scheduled for implementation on October 28, 2004 - commonly...
Beyond October 28: Critical Issues to Consider in Your Image Exchange Strategy
Faced with declining check volumes and revenues, a majority of banks are looking towards check truncation and image exchange as critical business elements in their mid- to long-term operations strategies. As is often the case during periods of disruptive change, even the more aggressive players are weighing the benefits of...
The Unanticipated Risk Implications of Check 21
As the banking industry transitions into the Check 21 era, many assume banks' exposure to fraud will be reduced. To the contrary, only selected types of fraud will be reduced while other types of exposures will be created. Like many changes, when we try to solve a problem in one...
Corporations and Customers: Looking for a Few Good Metrics
Like corporate management, customers are in the business of creating and capturing value, and looking at the right metrics is the key to getting to the right decision. As corporations attempt to get metrics that more accurately reflect the truth about value, they must deal with customers who are attempting...
Check 21: Get Ready, Change is Coming!
When it comes to predicting the impact of Check 21 on US payments, there have been some bold assertions made. Some have compared Check 21 to the introduction of MICR in the early 1960's, in its potential to change the way checks are processed in the US. Others have likened...
Many Clients Still in the Dark on Check 21
For the banking industry, this is the year Check 21, a long-awaited law, will finally take effect, and gearing up for this change is a top priority at many banks. For a substantial majority of banks' corporate customers, however, the story is different. Many have no idea financial institutions are...
Check 21 and Corporate Customer Retention Getting Them Ready for October
After years of fighting for Check 21, banks are now scrambling to address its implications. Check 21 is clearly the proverbial double-edged sword - in danger of harming those who are not careful of how they wield its power. Nowhere is the stream of countervailing discoveries more pronounced than in...
"Ready or Not, Here I Come": Check 21 and the Corporate Customer
This paper starts with describing what Check 21 means for banks' corporate customers. It then analyses the areas that will be affected by the implementation of the Check 21 legislation. It also throws light on how the banks have anticipated these impacts and how their customers would react when Check...
Check 21 and Corporate Customer Retention: Getting Them Ready for October
After years of fighting for Check 21, banks are now scrambling to address its implications. The anticipated benefits keep growing and so do the risks that seem to come with the industry's victory. The purpose of this paper is to extend the understanding of the impacts of Check 21 and...
Forging Your Bank's Link in the New Currency Supply Chain
The purpose of this paper is to describe the causes of the change in banking transaction and its likeliest impacts, and propose a set of guidelines for navigating the change and benefiting from it. Changes from the Fed, and the greater shift they foreshadow, will profoundly impact commercial banks and...
The Domino Effect of Check 21 Paving a Path for Banks to Redefine and Reclaim the Payment System
Domino theories are invoked when a seemingly simple or isolated event is predicted to provoke a series of reactions whose cumulative effect is both momentous and distant from the original event. The enactment of Check 21 will entrain such a series of events in the payment system. These events ?...
Check 21 Will Change Verification Services
As the banking industry builds the infrastructure necessary to exchange digital images of paper checks, questions are starting to bubble up about whether the new technology will one day make check verification services obsolete. The Check Clearing for the 21st Century Act is widely expected to facilitate the use of...
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