3676 Results from /retail
Dan Barnes Writer at Information Corporation
The news that US financial services firms are beginning to use peer-to-peer or person-to-person (P2P) platforms as a method of reaching borrowers is a bit concerning. More worrying is that P2P loans are being sold on and securitised. Q: What is P2P lending? A: P2P platforms typically bring together individual lenders to invest in loans to individua...
04 November 2013 /regulation /retail Future Finance
A detail sprang out at me in the recent investigation into Mizuho Bank’s accidental funding of organised criminals in Japan. The bank funded loans via an associated firm, Orico, which acted as the lender, and had in turn outsourced the background checks it ran on customers. It turned out the background checks had not picked up on the criminality o...
Retired Member
The future of money is a decentralised, unregulated, completely digital currency. I feel like the only thing that anyone’s talking about now is bitcoin. Bitcoin ATMs, the Silk Road shutdown, the man who just bought a house with his long-forgotten bitcoin investment. It reminds me of the BitTorrent protocol. At its core, an innovative and efficient...
01 November 2013 /retail Future Finance
When it comes to customer loyalty, banks have long held a privileged position. Whether it's the difficulty of navigating a raft of red tape, an inability to separate the offering from the vast array of different providers, or simply a feeling of contentment with the service offered – for most of us changing bank is a rarity. The old adage that an ...
31 October 2013 /retail
Hans Tesselaar Executive Director at BIAN
Our banks run on enormously complex IT systems. This is not new information – much has been said of the challenges facing banks as these archaic systems struggle to answer the pressures of a modern banking industry. After all, most banking platforms were developed in the 1960s and 1970s – consider how consumer technology has evolved in this time a...
30 October 2013 /retail
Brett King CEO & Founder at Moven
Mobile use is exploding in the banking scene. If you are a retail bank today in the developed world and you don’t have an app for your customers, you are increasingly becoming an exception. Certainly almost every bank in the world today has some form of Internet website and Internet banking capability. However, for most banks, the web and mobile a...
29 October 2013 /retail Innovation in Financial Services
The yearly Apple keynote wasn't a demonstration of new products. Since its inception it's increasingly become a parade of the firm's utter dominance of the consumer technology market. A stunt of self-publicity focused just as much on its own glory than future potential. And rightly so. I don't care much for self-promotion, but if you've done as mu...
25 October 2013 /payments /retail Future Finance
Elton Cane Digital product delivery at News Corp Australia
PCs are the forgotten platform for Chinese banks, who are focusing development efforts on the mobile channel and leaving desktop users reliant on Internet Explorer 6. For anyone involved in web development, having to support multiple older browsers is a constant hassle. And Internet Explorer 6, with its lack of support for modern web standards and...
23 October 2013 /retail Future Finance
Alex Bray AVP, Omni-Channel Acquisition & Servicing at Genpact
If banks don't develop a second generation digital channels strategy, they won't be around in 10 years time. It sounds like a bold statement, but it is a pretty safe bet. Customer behaviours, right around the world, are changing at an unprecedented pace. The effect of these changes is starting to drive a sea-change in bank strategies. Banks need 's...
21 October 2013 /retail Online Banking
You can find references to the power of specialisation and the division of labour back to the 4th Century BC when Xenophon said “he who pursues a very specialised task will do it best”. Then, in more modern times, Adam Smith introduced the idea to the Division of Labour to improve productivity in Pin Making, extolling the productive powers of sepa...
18 October 2013 /retail
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