Modern Day Data Capture Processes

This week’s episode of Conversation with Kip explores the current implication of the data capture processes shown in the IBM Historical Banking Movies, including the 1977 IBM Historical Optical Character Recognition System. Our systems today still copy and reformat data from source systems into every major data supply chain, similar to the concepts noted in the historical films. I think the principle highlighted by the bank … Continue reading Modern Day Data Capture Processes

Financial Reporting in 1961

Today’s episode of Conversations with Kip explores what financial reporting looked like in 1961 using an IBM historical film, “The IBM MICR Banking Solution” and the 1959 video already released. Within this video you’ll get a sense of the types of reports that were needed in the early days, and which are still produced in today banking and financial systems. The principles behind financial reporting … Continue reading Financial Reporting in 1961

1959 IBM Historical Banking System Abridged Technical Solution

This week we continue our exploration of the historical IBM films about early financial systems, beginning to focus on the technical components from last week’s released video. (1) The first processes shown is encoding; today this is often replaced with ETL or translation processes to get data into consistent code sets. (2) The second processes is the sorter/reader. Although few people focus on this process … Continue reading 1959 IBM Historical Banking System Abridged Technical Solution

Industry Leadership in Financial Services

I recently was given some videos from the IBM Archives about early automation in financial services. I’ll release a number of these over the coming weeks, exploring what we can learn from the earliest days of financial system automation. This week’s episode is extracted from the IBM Banking Preimere in Poughkeepsie, NY May 4-11, 1959, where IBM introduced the check processing system based upon magnetic … Continue reading Industry Leadership in Financial Services

Instrument ID and the Coming Social Commerce Platform

This week’s episode is the final in a series of videos about the coming social banking/social commerce platform. A fundamental change in data and posting architecture will be key to making this real: one aspect of that will be a detailed identifier on the Instrument Ledger. This increases the level of detail available from the ledger, without significantly increasing reconciliation processes–one of the major objectives … Continue reading Instrument ID and the Coming Social Commerce Platform