Links Digest for September 20th

September 20, 2011
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Perry: Raise the MBL Cap | 2011-09-16 | Credit Union Magazine
Currently, business loans may only make up 12.25% of assets at Credit Unions. Gov. Perry says he wants to change that.
Groupon Integration with Financial Tools May Be a Great Deal for Banks – American Banker Article
Manilla aggregates financial data in a single location. They are now set to also aggregate daily deals.
Google Wallet hands-on: cool but needs work — Tech News and Analysis
While you’re out and about, you just go to any PayPass enabled point of sale terminal and in lieu of a card, you can just tap your phone to pay and get a buzz on your phone to confirm the purchase. You will need to wake up the phone because of security reasons, the NFC chip won’t work until that happens. And if the time-out period has expired on the lock for Google Wallet, you will also need to enter your PIN before completing a transaction. From Google Wallet you can see an updated balance on your pre-paid card but again there is no detailed history about what you bought or where.

Visa, American Express, and Discover have also announced that they are licensing their technology to Google so that their banking partners can add their cards to Google Wallet.

Microsoft Becomes First Corporate User of Standard XML-Based Bank Statements – American Banker Article
In April, Microsoft went live with global cash reporting using the ISO-standard XML messages, starting with SWIFT MT 940 end-of-day account balance statements. That data is now represented in the 20022 XML format and fed directly and consistently into Microsoft's treasury systems, Kerr says. In the second phase, which is currently under development, outgoing, high-value payments will be sent from Microsoft Treasury to banking partners using the same format.

For a bank like Bank of America, which has been building a global payments hub for its corporate customers for years, the ISO-standard message will be an additional format they take into their hub. "This format has the ability to consolidate a lot of those old, proprietary formats as well," Kerr says. "That would allow the bank in turn to offer a simpler integration solution across the board to customers whatever country they're located in."

Hate Banner Ads? A Credit Union Finds a Better Way – American Banker Article
1st Advantage Federal Credit Union had a problem: Almost no one was clicking on the banner ads it displays within online banking sessions to cross-sell products.

So it tried a different approach. This year, it began presenting targeted questionnaires to members as they finish their online banking sessions. This approach boosted conversion rates for one of its products to nearly 10% in a test.

Five Ways to Mine Bank Data for Marketing Gold – American Banker Article
Banks sit on a wealth of customer credit, debit and online banking transaction data, and they have a growing number of options for mining that data to determine what products customers want to buy and when.
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