146 Results from 2011, /retail
Retired Member
If I send snail mail, I have four worries. One is did other party get it? Second is did he read it. Thirdly did he send me letter back and did I get it. Finally, do I really know that signature I get it is real. Same goes for fax. Still many banks and other organizations do send lot of documents as paper format. They don't see any risks. But when...
07 April 2011 /regulation /retail
There’s a fascinating term in marine biology to describe the service that ‘cleaner fishes’ provide to other fish, including their natural predators, of removing dead skin and surface parasites; it’s called mutualism – food in exchange for a scrub. When cleaning is underway, a wary truce is called between the cleaner and host species. In the terres...
06 April 2011 /sibos /retail Innovation in Financial Services
Brett King CEO & Founder at Moven
Since the emergence of online banking there has been a fundamental assertion from high-net-worth bankers that their clients aren't digitally focused, they don't use social media or mobile banking, and that they prefer to pick up the phone and engage their banker because the nature of their interactions is defined by their wealth - they want the hi...
06 April 2011 /retail Innovation in Financial Services
Nikhil Mittal Financial Crimes Consultant at Wells Fargo
We all are aware of the growing interests of large and medium businesses towards financing their daily needs via Asset based financing ranging from financing via factoring to Asset based borrowing. Over the years, many banks have started giving weight to Asset based financing, which is evident from the returns this has given to them YoY as compared...
05 April 2011 /retail /wholesale
There's a much quoted line in the UK banking market that you are more likely to get divorced than change current accounts. This comes from the statistic that around 75% of customers have never closed a current account, but that approximately 45% of marriages end in divorce. But this is misleading. The fact is that banks don't record churn or swit...
25 March 2011 /retail Innovation in Financial Services
Duncan Ash Director of FS Market Development EMEA at Qliktech
“The European Union's stress tests on banks this year may be tougher and better organised than last year's, but still fall far short of settling the biggest worries over their health.” This was the conclusion of one of the journalists I spoke to on Friday, following the EBA’s announcement on the scenarios and methodology for the 2011 round of EU-w...
24 March 2011 /regulation /retail
Sebastien Slim points out in his blog post (Generating loyal customers through mobile banking, 14 March 2011) that analyst research shows that banks are starting to take notice of mobile banking, stating that they can no longer afford to put off the adoption of this hugely important channel. But he also notes that banks still have a great deal of ...
24 March 2011 /retail
At the Retail Banking in Europe conference last week, in Amsterdam the fundamental theme that came up again and again was the impact of social and digital trends on customer service. Mike Warriner, our CTO highlighted to the banking executives in attendance the key themes he sees developing over the next ten years. One of the themes he explored wa...
22 March 2011 /retail
In the last few months, the market has been bombarded with news and vendor comments about mobile financial services. The overriding message seems to be that although mobile banking technology has been available for several years, more momentum behind mobile payments is pushing banking services onto the mobile channel in general. We did a quick poll...
21 March 2011 /retail
Now that the economy is on the mend, banks may take their foot off the accelerator with regard to cost cuts. But while doing so, they must guard against letting inefficiencies creep into their operations. I am clear that efficiency and cost cutting are two different things, and we must hang on to the former even if we let go of the latter. First ...
21 March 2011 /sibos /retail Innovation in Financial Services
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