Technology Contract Review: What You Don’t Know Can Be Costly.

February 6, 2019 - 3 min read

  “By failing to prepare, you are preparing to fail.” Benjamin Franklin. To say reviewing technology agreements (core processing and related agreements) is a large part of my job would be an understatement. Not only must I review all agreements at the beginning of any engagement I undertake (either a competitive vendor evaluation or a…

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Consider the Impact if Your Database was ‘Equifaxed’!

February 27, 2018 - 4 min read

My youngest son is a high school varsity basketball coach. Each year, before the season begins, he hears of certain areas that the state athletic association wants referees to focus on. These are referred to as ‘points of emphasis’. As a coach, he must learn about officiating updates. Some of these points of emphasis may…

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Just Another Risk Assessment, or a Critical Risk Assessment?

February 8, 2018 - 3 min read

Risk assessments are a valuable tool, if used to truly understand the threat environment associated with specific product lines. A good example of a meaningful risk assessment would be a “Corporate Account Takeover Risk Assessment” which, if performed properly, is used to determine the probability of a Corporate Account Takeover (CATO). If the risk is…

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Kicking Off the New Year with Resolutions and Best Practices

January 17, 2018 - 4 min read

According to Wikipedia, ancient Babylonians began each year by promising to return borrowed objects and repay their debts. Ancient Romans began the New Year by making promises to Janus, a two-faced god who represented beginnings and transitions. The month January is name for Janus. Neither the Babylonians nor the Romans had to deal with technology…

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Trends in Technology: The Most Overused Word in Technology

December 13, 2017 - 2 min read

Partnership – I believe that it is the most overused word in technology today. True partnerships seldom exist, but all too often technology vendors portray their relationships with clients as partnerships. Only when the client recognizes that there is a partnership does it actually exist, not because the vendor wishes to be considered as a…

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The Arrogance of Technology

November 15, 2017 - 4 min read

“Bright shiny thing increases ROA by X%.” I have yet to read that in a press release from a tech vendor, but I won’t be surprised when I do! Financial technology vendors have all fallen into the same trap, believing their own press releases. “Our tech is better because, blah, blah, blah.” Ok, prove it!…

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Understanding the Truth About the Impact of Acquisitions on Vendors

October 25, 2017 - 6 min read

Newton’s third law of motion states that for every action there is an equal and opposite reaction. We all learned that in high school physics. But, what does physics have to do with technology, more precisely, the business of financial technology? Literally, not much. I’m citing it, however, to show there is a correlation between…

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What Happened to Cybersecurity? Another Major Breach

October 3, 2017 - 3 min read

Yet again, millions of people have been exposed to unauthorized access to, and fraudulent use of, their information because of the inadequacies of “cybersecurity“. Just look at the firewall report of any company to see thousands of attempted attacks each day via the internet. Why would any company think they can operate in today’s business…

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Harvey, Irma and Equifax

September 13, 2017 - 7 min read

Disasters come in all shapes and sizes. Over the past couple of weeks, we have experienced three massive disasters. Two from Mother Nature that could not have been avoided, and one disaster that was man-made, Equifax, that should never have occurred. I have never experienced a hurricane and I hope that I never do. I…

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Top Technology Concerns for Community Banks Webinar

September 8, 2017 - 2 min read

Maintaining current technology is one of the most critical challenges that management teams must face. Technology provides the foundation for financial institutions to achieve goals and objectives. It is imperative that management teams keep abreast of current trends and industry-related concerns. ProBank Austin sponsored a complimentary webinar, Top Technology Concerns for Community Banks, on Friday,…

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Lawyers and Money

August 15, 2017 - 3 min read

No bank wishes to needlessly increase expenses, however, when it comes to contract negotiations the services of a qualified attorney is a justifiable expense. It is an absolute must and it will be well worth the money spent. Today’s technology service agreements have become significantly complex, overly complex. Every year contract complexity seems to increase….

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When It Comes to Core Conversions, Look Before You Leap

July 31, 2017 - 2 min read

Bank recently published an article by Jack Milligan, Editor-in-Chief for Bank Director Magazine,”When It Comes to Core Conversions, Look Before You Leap” (Link Below) which features helpful information for financial institutions faced with choosing a core provider from Steve Heckard, Senior Consultant, Technology Solutions, ProBank Austin. According to the article, banks typically change core…

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