FSTC Names New Executive Director.Business Editors CHICAGO--(BUSINESS WIRE)--April 16, 2001 The Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Technology Consortium (FSTC FSTC Financial Services Technology Consortium (Electronic Financial Services) FSTC Food Service Technology Center FSTC Foreign Science & Technology Center (Army) FSTC Federal Software Testing Center ) recently announced that Zachary Tumin has been named Executive Director of the organization. Tumin had been the organization's Director of Research since April 2000. Tumin's background includes work in telecommunications and computing research at Harvard University Harvard University, mainly at Cambridge, Mass., including Harvard College, the oldest American college. Harvard College Harvard College, originally for men, was founded in 1636 with a grant from the General Court of the Massachusetts Bay Colony. , management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects to financial services organizations, and operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. in both the public and private sectors. A graduate of the University of Pennsylvania (body, education) University of Pennsylvania - The home of ENIAC and Machiavelli. http://upenn.edu/. Address: Philadelphia, PA, USA. , Tumin received a Masters in Education from Harvard's Graduate School of Education, and a Masters in Public Policy from Harvard's John F. Kennedy School of Government The John F. Kennedy School of Government, colloquially known as the Kennedy School of Government (KSG) or simply the Kennedy School, is a public policy school and one of the professional graduate schools of Harvard University. . He continues to serve as a member of the research staff at the Kennedy School. "My vision for FSTC is to bring the leading financial institutions and technology companies together to pool their considerable knowledge and bring forward products and services that will open new markets for our members, reduce their risk, and generate new savings and revenues," said Tumin. "Our mission is to challenge the best and the brightest industry technologists to produce solutions that the financial services industry will use to solve business problems and grow its markets." Under Tumin's leadership, FSTC aims to strengthen its membership base by committing to a clear value proposition. "We aim to bring forward technologies that members need, will work collaboratively to develop, and will adopt," Tumin said. "FSTC has a tremendous record of achievement in developing technologies that members have or soon will bring to market," Tumin said. He cited FSTC's "PACES" project, which broke ground for an interbank image exchange that was later capitalized on by Chase, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. and IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) as Viewpointe. Other projects mentioned included electronic checks, and the Bank Internet Payment System. New initiatives for FSTC include the design and proof-of-concept of the Financial Agent Secure Transaction (FAST) methodology, and an evaluation of technologies to automate the comparison of imaged signatures on checks, to reduce check fraud. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Tumin, FAST will make headway against a major obstacle to Internet commerce: authenticating the identity and attributes of people or businesses who want to engage in Internet commerce but who are unknown to each other. "FSTC is very pleased to welcome Zach as our new executive director," said FSTC President Garrett N. Macey from Wells Fargo Bank. "Zach brings a strong background in research, program initiation, and operations management to FSTC. He is a demonstrated leader, researcher and project manager, all of which will help FSTC capitalize on emerging technology." FSTC is a not-for-profit research and development organization comprised of banks, industry partners, financial service providers, technology companies, academic institutions, and government agencies. Founded in September 1993, the FSTC fosters the development of technology-based solutions to meet financial services industry needs and opportunities. FSTC sponsors project-oriented research and proof-of-concept activities on interbank issues, with a focus on interoperability requirements and standards. In addition, particular emphasis is placed on payment systems, electronic commerce and information delivery. The organization has sponsored pre-competitive collaborative infrastructural projects on behalf of the financial services industry in partnership with technology providers, the national laboratories, universities and government agencies. For more information about FSTC, its projects and member organizations, visit the FSTC Web site at www.fstc.org, or call the FSTC Headquarters at 312.527.6724. |
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