Deutsche Bank has a technology problem

From Business Insider UK –

“When you pay $6 billion (£3.9 billion) by accident, it's time to admit your technology and operational controls aren't up to scratch.

Such is the case with Deutsche Bank, which mistakenly paid the money to a hedge fund client in a so-called "fat finger" trade in June when junior staff put in too many zeros on a transaction, according to a report in the Financial Times.”

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BofA's Moynihan Lets Slip That Processing Costs Are 90% Lower via Mobile

From Bank Innovation –

“So now we know.

Brian Moynihan, the chairman and chief executive of Bank of America, disclosed yesterday the rate of savings the megabank is getting from its customers shifting to mobile banking for services: 90%.”

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The solution to Wall Street’s 1960s paperwork crisis could also save bitcoin

From Quartz –

“In the late 1960s, Wall Street had a paper problem. Every time a stock changed hands, a physical stock certificate had to be exchanged as well.

Back then, the securities business relied on a cottage industry of old men, often retired police officers and firemen, chomping cigars in trench coats as they schlepped valises, suitcases and even steamer trunks full of stock certificates—or bearer bonds, or cash—to and fro in lower Manhattan, in New York’s financial district. If a courier was out on the street with a particularly valuable suitcase, the risk manager—he was not a spreadsheet jockey, but rather the guy who managed the metal cage holding the firm’s valuable documents and cash—would ask the other couriers to sit tight until the transaction “cleared” and the other side of the trade was safely back in the bank.”

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Real Time DevOps

From Deloitte CIO Journal

“IT organizations need to better respond to business needs with speed and agility. IT can likely improve the quality of its products and services by standardizing and automating environment, build, release, and configuration management—using tools like deployment managers, virtualization, continuous integration servers, and automated build verification testing. Popular in the agile world, DevOps capabilities are growing in many IT organizations with either waterfall or agile methodologies.”

Bank Operations - HSBC managers now talk to customers via webcam

HSBC has introduced a new consultation service that allows Premier customers in Hong Kong to hold virtual meetings with the company managers online. Customers are able to get access to the Live Connect service through the bank's Web site, clicking on a button to open a window containing a real-time view of their relationship manager.

Speaking to the managers via a webcam and computer speakers consumers can ask their questions and get instant financial advice on products.

While at the initial stage the service is being launched for Premier customers, eventually it will be extended to all sites in Hong Kong by the year end.

HSBC also launched Let US Call You service that allows customers leave their request online and be recalled immediately by the bank representative who will speak the language specified by a consumers on the website.