1996-11-29 - Copyright violations

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From: alzheimer@juno.com (Ronald Raygun Remailer)
To: cypherpunks@toad.com
Message Hash: 1debc8150e2a5c32ea0c50b6c8b58a2e905cc795526cba47b824f6f0323bbb69
Message ID: <19961129.121618.11423.1.alzheimer@juno.com>
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UTC Datetime: 1996-11-29 18:15:31 UTC
Raw Date: Fri, 29 Nov 1996 10:15:31 -0800 (PST)

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From: alzheimer@juno.com (Ronald Raygun Remailer)
Date: Fri, 29 Nov 1996 10:15:31 -0800 (PST)
To: cypherpunks@toad.com
Subject: Copyright violations
Message-ID: <19961129.121618.11423.1.alzheimer@juno.com>
MIME-Version: 1.0
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News Release (USCIB): Tuesday, November 26, 1996
 
Banks Making Sweeping Changes in Operations to Meet
Challenges of International Markets
 
Study finds international banks applying mix of reengineering and new
technology to improve operations. In an effort to reduce costs and boost
productivity, international banks are reengineering their operations
departments and updating technology at increased rates, according to a
two-year study of top international banking operations officers conducted
by
the U.S. Council on International Banking (USCIB) and the USCIB
Foundation. 
 
Operations departments, which generally maintain activity other than
retail
banking or customer service, are becoming increasingly critical in
international
banking, due to the explosive growth of transnational business and the
convergence of commercial and investment bank activities. Such industry
developments have left many corporate clients looking for "one-stop
shopping" for their banking matters as an easier way to meet their
financing
needs. 
 
At the USCIB Annual Conference in mid-November, it was noted that
banks are going to have to employ more agility in order to satisfy their
corporate clients' escalating demands for simplicity. The increasing cost
of
running an operations department is also forcing executives to take a
sharper
look at where they can trim their budgets. 
 
According to the USCIB study the annual operations department budget is
now $ 15 million, compared with $ 9 million in 1995, an increase of more
than sixty-six (66%) percent. In more than half (52%) of the operations
departments surveyed, labor costs accounted for fifty (50%) percent or
more
of their budgets. 
 
To reduce costs, executives have turned to reengineering and downsizing.
Thirty six (36%) percent have reengineered their departments, and of
those,

sixty-three (63%) percent reported the action had reduced costs and
improved productivity. 
 
Nearly one-half (49%) of operations executives have either downsized
their
departments in the past year or plan to in the one to come. In addition,
all of
the executives surveyed plan to invest in technology over the next 12
months
in order to speed up operations and handle the increase in international
transaction banking. Ninety-six (96%) percent of respondents say they
will
invest in technology, up from eighty-nine (89%) percent in 1995. 
 
Just under half of surveyed operations departments use a technology
system
that is over three years old, and sixty-three (63%) percent of
prospective
buyers expect to spend more than $100,000 to replace or upgrade aging
equipment in the next year. 
 
The U.S. Council on International Banking (USCIB) is a national
association
representing more than 320 U.S. and foreign-based financial institutions
with
operations or subsidiaries in the United States. 
 
One of the oldest U.S. banking associations, the USCIB works to
standardize international banking rules and practices, serves as advocate
to
U.S. and international regulatory bodies on policy issues that affect its
membership, and provides training and information to bankers throughout
the
United States. 
 
This study included 55 of its members and other executives and was
conducted in late July and August, 1996.
 
 





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