REDMOND, Wash. - (02/09/05) -- Microsoft is promising significantproductivity gains and security with a new communicationsinfrastructure for web-based financial transactions. The Indigocommunication system is designed to drastically reduce code fordevelopers building reliable Web services and is scheduled for abeta release in June, with general availability in 2006.Functioning with the Visual Studio 2005 development platform andlanguages such as C# or J#, Indigo saves developers from having towrite thousands of lines code, leveraging metadata, according toMicrosoft. Indigo is built as extensions to the .Net Framework,with support planned for Windows XP, Windows Server 2003, and theproposed Longhorn version of Windows. Indigo will back theMicrosoft-driven WS-* architectures for Web servicesstandardization. WS-* is how Microsoft refers to the set of Webservices specifications that features Web Services ReliableMessaging, among others.
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The top five banks and thrifts have combined total assets of nearly $13 trillion.
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A new Citizens Bank survey suggests rising check-fraud incidents are driving middle-market companies to accelerate plans to fully adopt digital payments. But 70% of all businesses will continue to rely on checks for years to come, according to recent data from the Association for Financial Professionals.
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After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
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The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.
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The bank will use biometric authentication to streamline checkout in stores starting in 2025. It has already completed internal and external pilots of the technology.
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Banks reported nearly $27 billion had been tied up in scams or theft against elderly people in a recent 12-month period, according to a report from the U.S. Treasury.
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