ORX chooses IBM
The Operational Riskdata eXchange Association (ORX) has selected IBM and OpenPages to help Web-enable its operational risk loss data capture and analytic capabilities, according to International Business Times.
ORX is an operational risk loss data consortium for the financial services industry. It holds operational loss data from across the banking industry in order to improve its members' collective capacity to understand and quantify operational risk.
The transformation to a Web-enabled system will provide ORX with an automated platform for loss event collection and allow it to improve the services it provides its 50 member banks.
PNB looks to Infosys
Rural banks under Punjab National Bank's charge could have core banking solutions soon, with PNB inking a deal with software firm Infosys to use its Finacle process, writes Trading Markets.
"The key objective of this transformation initiative is to strengthen our RRBs and make them vibrant channels of financial service delivery for the rural sector," said PNB's chief GM, RIS Sidhu.
Rural banks could not previously use this technology due to their remote locations, Sidhu said.
Alltel Wallet unveils mobile banking
Alltel Wireless will unveil its mobile wallet service in 2009, powered by San Francisco, California-based mFoundry - the same company that powers mobile banking solutions for Verizon and Sprint, reports Into Mobile.
The Alltel Wallet will initially provide access to a consolidated mobile banking service, allowing customers to access a wide variety of financial institutions.
MFoundry's technology combines mobile banking, mobile payments and mobile commerce capabilities, and will provide Alltel with the necessary platform to plug in enhanced financial solutions.
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