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Our favorite banking technology-related blog posts from around the Web (January 10-16, 2010):

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Banks Send Aid to Haiti

On , posted in: Bank Systems and Technology by admin | Comments Off

Say what you will about banks’ role in the financial crisis and recession, one good quality of the U.S. banking industry is that it’s usually the first to respond to catastrophe with money and aid.

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This week in weird/funny (it all depends on your viewpoint) videos about finance and technology, a kangaroo holds up a bank; sketch comedy show Little Britain demonstrates how Americans rob banks, an epic battle between Mac and PC users.

Skippy and the Bank Robbery

Australian celebrity kangaroo Skippy appears to have a dark side.

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In a fact sheet, the Obama Administration has outlined a few details about the Financial Crisis Responsibility Fee the President is submitting to Congress in his next budget. If the budget passes, the fee will be levied on financial institutions with more than $50 billion in assets, it will take effect June 30 of this year and it will last at least 10 years, or until the TARP is repaid in full. The government hopes to raise up to $117 billion.

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By Bill Bradway, Bradway Research LLC

The recurring headlines touting mobile banking and more recently, mobile payments, reinforce my opinion that technology-based innovation in financial services is often ahead of the business-based needs the technology solutions address. Mobile banking over the past 10 years has been a poster child for this phenomenon. No doubt the interest in mobile banking today by bankers is rising and far stronger than 10 years ago and several leading institutions have achieved a meaningful retail customer adoption of their mobile banking offer, led by Bank of America in the U.S. But that misses the point of this column. Last month I noted, “As the banking industry begins its recovery from the Great Recession, eyes and minds are shifting their focus back to identifying the most promising bank tech innovations for the next few years.” Are mobile banking and payments among the most promising innovations, capable of disrupting the retail banking market? Or, will they drive more bankers crazy, in both business and IT, chasing ever elusive expectations?

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Our colleagues over at InformationWeek ran an exclusive story yesterday afternoon, reporting that Armonk, N.Y.-based IBM intends to reorganize its software group.

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Google is rethinking its involvement in the Chinese market, after uncovering a serious hacking attempt against the company and many others that originated in China.

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This morning, the leaders of four large banks — Lloyd Blankfein, chairman and CEO of Goldman Sachs; Jamie Dimon, chairman and CEO of J.P. Morgan Chase; John Mack, chairman of Morgan Stanley; and Bank of America’s new CEO Brian Moynihan — are testifying before the Financial Crisis Inquiry Commission, a group that will spend this year investigating what caused the financial crisis of 2007-2009 and produce a report in December.

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By Patrick J. Moore

As promising signs of economic recovery emerge and businesses shed their bunker mentality, it is time to look ahead. A key question for the banking industry is, how will it prepare for the future? Are we ready to embrace innovation, take risks, and reach beyond our comfort zone? Or will we continue business as usual and run the risk of going the way of the dinosaur?

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