3847 Results from /retail
Retired Member
You couldn’t make it up… Not content with insulting me over their loan offers recently (see previous blogs), my bank has now compounded the insult by mailshotting me with an offer to take out an instant access savings account, at the ‘healthy rate’ of 0.2% (which apparently includes a ‘bonus’ of 0.1%). This raises some interesting points: 1) ...
04 February 2009 /retail Transaction Banking
The Handelsbanken announcement is most welcome. It's interesting how some ideas keep being revisited. I remember, a number of years ago, being involved in a feasibility study for a UK bank that wanted to do something similar. In the end, the technological challenges were too great at that time (and more important things pushed it down the prior...
04 February 2009 /retail Online Banking
Matt White North America editor at Finextra
The US Department of Justice has taken a breather from chasing the bad guys to go phishing. According to the AP, the department sent out an e-mail to its own staff purporting to be from the "Thrift Savings Plan Account Coordinator" directing them to a Web site asking for account information. The more security conscious recipients smelled...
03 February 2009 /security /retail
Kumar Jm Business Consultant at Indian Fortune 500
a) Core Banking Introduction In a nutshell a core banking system is a centralized self contained system that shall have the benefits of performing multiple transaction activities coupled with scalability and performance sturdiness to name a few benefits. The market is currently dominated by more than 30 players who together offer about 50 pro...
30 January 2009 /retail /wholesale
Is this crisis the end of social lending? Yes and no. Majority of the social lending services which have been shut down (Prosper and Zopa US, to name the famous ones) were actually more like traditional banks presenting themselves as new kind of financial institutions. Prosper was a bank with a core idea to securitize loans. Zopa US facilitated th...
29 January 2009 /payments /retail
Paul Penrose Head of Research at Finextra
The UK's Faster Payments service has taken a critical panning from the BBC. The Corporation's MoneyBox programme claims the system is in "disarray", as banks implement the technology in a disjointed patchwork fashion. Northern Rock, Citibank and Abbey have not started to make same-day payments. The Association for Payments and Clearing ...
26 January 2009 /payments /retail
Richard Barr Principal Associate at Citadel Advantage Ltd.
We hardly ever question the benefits of STP. And for the most part, STP is really a smart move. It saves on errors, manpower, time and increases profits. What's there not to like about it? Well, you already know that's a trick question on my part because I'm going to answer it myself. STP can become a liability rather than an asset when we become t...
No matter which way you look at it Ken Lewis's bail-out of Merrill Lynch looks increasingly wrong-headed. John Thain - the man who sold the pony to Lewis - has now fallen on his sword after Merrill posted more than $15 billion in surprise losses just three weeks ago. The shock revelation followed the disclosure of early bonus pay-outs to Merrill st...
23 January 2009 /retail /wholesale
...even for Northern Rock employees. There was an interesting debate on Question Time last night about the bonuses that are to be paid to Northern Rock staff. The views spanned the spectrum, from one delegate who said bonus schemes shouldn’t exist at all – anywhere - to a part-justification of the process. I say ‘part-justification’ because the...
23 January 2009 /regulation /retail Transaction Banking
Elton Cane Digital product delivery at News Corp Australia
Intelligent Environments appears to have lived up to the first part of its name with the revenue model it has in place with a growing number of customers. Not only does it take a small one-off fee each time a consumer submits an application online for one of its customers' card or bank account products, but the company also takes an annual fee for ...
20 January 2009 /retail Going green
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