3672 Results from /retail
Retired Member
At the Asian Banker Summit in Hong Kong last week, the passion that the banking community displayed to be a leader in innovation and customer experience was very apparent. For the East, the fast adoption of mobile technology is already becoming a game-changing trend and the financial services, especially retail banking, sector has a focus on mobil...
13 April 2011 /retail
We know it’s a problem, we’ve seen it this year – don’t comply, don’t look after your customers properly at your peril. If you’re not going to play the game by the rules, be sure to put something by to cover the fines that will ensue. Since the FSA put its focus on a stronger consumer protection strategy a year ago, paying lip-service to the re
08 April 2011 /retail
The UK banking and financial service sector is currently undergoing a period of reinvention (whether it realises it or not). There are several reasons for this: Firstly, the rise of social media has provided customers with a means by which they can voice their needs and also connect with their fellow customers, for example, online communities such...
08 April 2011 /payments /retail Innovation in Financial Services
Brett King CEO & Founder at Moven
Ok, so the feedback from Finextra's #finxsm event this week is that we're finally coming to grips with the fact that Social Media isn't going to disappear into the night like some passing fad. Good news! It's interesting though, whenever a major disruptor like social media, the internet, etc has come along, inevitably there are many traditional ma...
08 April 2011 /regulation /retail Finance 2.0
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
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
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