Automatic Perfection of Sales of Payment Intangibles: A Trap for the Unwary

Under Section 9-309(3) of the Uniform Commercial Code, sales of payment intangibles are automatically perfected without the requirement of filing financing statements. Originally intended as a concession to the banking industry (to perfect sales of loan participations without filing), this provision has become a trap for the unwary-including unwary banks. It misleads those who think they\u27re buying payment intangibles (and thus need not file to perfect) only to find out, too late, that a court has construed that arcane definition too narrowly. It also undermines the ability to know one\u27s priority in purchased or pledged payment intangibles. This essay analyses these problems, examines their historical origins, and suggests potential solutions

Automatic Perfection of Sales of Payment Intangibles: A Trap for the Unwary

Under Section 9-309(3) of the Uniform Commercial Code, sales of payment intangibles are automatically perfected without the requirement of filing financing statements. Originally intended as a concession to the banking industry (to perfect sales of loan participations without filing), this provision has become a trap for the unwary-including unwary banks. It misleads those who think they\u27re buying payment intangibles (and thus need not file to perfect) only to find out, too late, that a court has construed that arcane definition too narrowly. It also undermines the ability to know one\u27s priority in purchased or pledged payment intangibles. This essay analyses these problems, examines their historical origins, and suggests potential solutions

Netbank: The Conservative Internet Entrepreneurs

NetBank is a successful Internet startup. In late 2001 it was the only Internet Bank that really succeeded in the U.S. By the end of 2001, NetBank operated nation wide with nearly a quarter of a million customers. The number of accounts grew at 275 percent per annum compounded since incorporation. This case describes the development of NetBank and addresses the issues it faced in handling rapid growth as it implemented Internet banking

Moving into new territory: Internet banks make defining community difficult

Community Reinvestment Act of 1977 ; Internet

Biodiversiteten kan nedsætte pesticidforbruget

Resistensen i planter forvaltes i landbruget på en måde, der svarer til, at alle kunder i en netbank bruger samme adgangskode uden NEM-ID. Det er en alvorlig sikkerhedsbrist, som fører til ustabile udbytter og øget pesticidforbrug

Feasibility of a Search Engine Based Financial Planning Service

Asiakkuuksien hankinnan ja ylläpitämisen tärkeys finanssialan yrityksille on viime aikoina korostunut alan kilpailun kiristyessä. Tästä johtuen myös Nordea pyrkii jatkuvasti parantamaan ja laajentamaan asiakkailleen tarjoamia palveluita. Tämä diplomityö keskittyy uuden henkilökohtaisen taloudenhallinnan palvelun kehittämiseen. Työ pyrkii vastaamaan kysymykseen soveltuuko FAST Enterprise Search Platform hakukonealusta henkilökohtaisen taloudenhallinnan palvelun tuottamiseen. Tutkimus aloitettiin keräämällä henkilökohtaisen taloudenhallinnan palvelun vaatimukset ja määritykset. Tämän jälkeen tutkimuksessa suunniteltiin kaksi teknistä ratkaisua, jotka pystyvät täyttämään palvelulle asetetut vaatimukset. Toinen ratkaisuista hyödyntää FAST ESP:tä, toinen puolestaan on perinteisempi relaatiotietokantoihin perustuva ratkaisu. Teknisiä ratkaisuja arvioitiin niin laadullisesti kuin määrällisestikin, jotta tutkimus pystyi vastaamaan FAST ESP:n soveltuvuuteen palvelun tuottamiseen. Tämän diplomityön johtopäätös on, että FAST ESP ei sovellu henkilökohtaisen taloudenhallinnan palvelun tuottamiseen. Vaikkakin laadullisesti FAST ESP tarjoaa joitakin etuja verrattuna tietokantoja hyödyntävään ratkaisuun, FAST ESP:tä hyödyntävän ratkaisun kehittämiskustannukset ovat merkittävästi liian suuret.In today's highly competitive financial industry it has become ever so important for companies to obtain and attract customer base. In this respect, Nordea is also looking to improve their customer service portfolio. This thesis focuses on the implementation of a new service, financial planning service. In more detail, this thesis aims to provide an answer on the feasibility of implementing financial planning service exploiting FAST Enterprise Search Platform. The study was conducted by first identifying the requirements of the financial planning service. After the requirements were identified, the study proposed two different technical solutions, one based on the usage of FAST ESP and another one exploiting traditional relational databases, which are able to produce the desired service. These technical solutions were compared qualitatively and quantitatively to each other in order to evaluate the feasibility of the solution based on FAST ESP. Based on the comparison, this thesis concludes that implementing financial planning service utilizing FAST ESP is not feasible. Qualitatively the technical solution based on FAST ESP offers better features. However, the costs of implementing the technical solution exploiting FAST ESP are far too large compared to the gained benefits over the technical solution utilizing databases