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Issue #2003 - 09 (March 2003)
(Updated Mar. 19, 2003)


CSC Lets Banks Tell Customers Of Overdrawn Accounts & Late Payments

Story By Paul McDougall (Information week)

Computer Sciences Corp., the third-largest IT services firm, has introduced software designed to make it easier and less costly for financial-service companies to deliver vital account information to customers over wireless channels while reducing dependence on expensive customer-outreach programs such as call centers. The software uses E-mail and voice and text messaging to provide real-time alerts to customers when their accounts are overdrawn, suspicious activity is suspected, or payments are late.

CSC says the system will let banks send as many as 10,000 electronic messages an hour, allowing them to cut customer-contact costs by as much as 80% for that task through the reduction of call centers and branch operations.

CSC will integrate the wireless alerts into its Hogan Integrated Deposits and Loans systems and Card & Merchant System. The software in part uses technology developed by application developer 724 Solutions Inc.

Source: Press report by Paul McDougall (Information Week)

MobileInfo Comments and Advisory: This is a fairly simple application enhancement based on software provided by 724 Solutions (a Canadian m-commerce application developer with expertise in financial services market). The enhanced service has a definite value for bank's customers and therefore it should have a good business case for the banks to offer to their premium customers. Instead of finding out about an "NSF (Not Sufficient Funds)" notice after the fact, customers will be forewarned now.  

 Note: This news release may contain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of Securities Exchange act of 1934 in USA. Similar provisions exist in other countries. There is no assurance that the stipulated plans of vendors will be implemented. MobileInfo does not warrant the authenticity of the information. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures.  All trademarks used in this summary are the property of their respective owners.

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