Latest Online banking News: Finextra Research

Third of Americans use online banking tools - Intuit

Over a third of Americans now use online banking tools to manage their finances, according to research from Intuit which also shows that visits to branches are becoming less frequent.

19 October 2010

News/Online banking

Set-up issues hampering US m-banking take-up

American banks need to improve instructions and set-up processes if they are to attract customers to their mobile services, according to research from Change Sciences Group.

15 October 2010

News/Online banking

Citi Australia claims to have almost eliminated online fraud; now testing voice biometrics

Citi has slashed online fraud rates to "almost zero" in Australia by using two factor authentication, a system it is now preparing to roll out to its mobile banking customers, according to country chief executive Roy Gori.

15 October 2010

News/Online banking

Barclays in hunt for Egg - report

Barclays has emerged as a leading bidder for online bank Egg, which has been put up for auction by current owner Citi, according to media reports.

11 October 2010

News/Online banking

Standard Chartered comp seeks 'world's coolest intern' to join social media team

Standard Chartered Bank has launched an online competition in Singapore to find "the world's coolest intern" to help run its social media platforms.

08 October 2010

News/Online banking

Westpac delays core banking migration by four years

Australian banking giant Westpac has set back by four year the timetable for migration of its core banking platform to the Hogan system used by its subsidiary St George as it strives to make sense of its sprawling IT estate.

08 October 2010

News/Online banking

UK card fraud losses at 10 year low

Fraud losses on UK cards fell to their lowest levels for 10 years in the first half of 2010, while online banking also saw a decrease in the amount lost for the first since 2007.

06 October 2010

News/Online banking

SunGard AvantGard launches eBAM system

Fintech giant SunGard has launched a Web-based AvantGard electronic bank account management (eBAM) system for corporations based on Swift standards.

05 October 2010

News/Online banking

North Americans prefer banking online but turn to branches when problems hit - survey

North Americans prefer the Internet for carrying out routine banking transactions but when a problem arises they turn to staff in a branch or over the phone, according to a survey from Empathica.

05 October 2010

News/Online banking

First direct's 'Beta Lab' to invite public input on product development

UK bank first direct is to give members of the public the opportunity to shape products and services before they are officially released.

04 October 2010

News/Online banking

Ukraine arrests key players in $70m Zeus fraud

Ukrainian authorities have arrested five people accused of being "key subjects" in an international criminal ring that used the Zeus Trojan to steal $70 million from online bank accounts.

04 October 2010

News/Online banking

US consumers prefer online banking - ABA survey

Most US bank customers prefer to do their banking online compared to any other method, according to an annual survey of 1000 consumers conducted by the American bankers Association which finds the Web channel gaining in popularity year on year.

01 October 2010

News/Online banking

US charges dozens over Zeus scam

US authorities have charged over 70 people accused of using the infamous Zeus Trojan to steal more than $3 million dollars from online bank accounts.

01 October 2010

News/Online banking

Third of Emea banks have no Gen Y strategy - survey

Despite the growing economic importance of Generation Y customers, nearly a third of banks in Europe the Middle East and Africa have yet to establish an active, dedicated strategy for marketing to and serving them, according to research from Oracle Financial Services and Efma.

29 September 2010

News/Online banking

PCeU arrests 19 over multi-million pound online banking raids

UK police have arrested 19 people in connection with the theft of millions of pounds from online bank accounts.

29 September 2010

News/Online banking

Zeus Trojan opens backdoor crack to two-factor SMS authentication

Security researchers are warning of a new threat to bank SMS two-factor authentication systems that combines social engineering and a variant of the Zeus Trojan to hijack user mobile phones during the online banking session.

27 September 2010

News/Online banking

Banks giving offline Brits a raw deal - Which?

Banks should install terminals in branches so that customers without Internet access can still get the best online deals, according to Which?

27 September 2010

News/Online banking

Egg to introduce one-time password protection via SMS

UK Internet bank Egg is introducing a new payment verification service that uses SMS text messaging to send one-time authorisation codes to customers moving money in and out of their accounts.

24 September 2010

News/Online banking

Think Finance targets unbanked after securing $90m credit facility

Think Finance, a US start-up tapping technology to provide services to the unbanked and underbanked, has secured a $90 million credit facility to help it develop new products.

24 September 2010

News/Online banking

Banks can't ignore social Web - first direct CEO

The growth of the social Web is something that cannot be ignored by banks and should be embraced as a means of connecting with customers, according to first direct CEO Matt Colebrook.

22 September 2010