146 Results from 2011, /retail
Duncan Ash Director of FS Market Development EMEA at Qliktech
The publication last week of the latest Financial Ombudsman Service (FOS) data on complaints sparked the usual ruckus, and understandably so. New cases for the FOS soared by 26 per cent in the year to March 31 2011 and 51 per cent of new cases were solely about Payment Protection Insurance (PPI). While these figures alone provide food for thought,...
08 June 2011 /retail
Martin Bailey Technology Product Director at Temenos
Unsurprisingly, working for a software house specialising in Core Banking systems, we spend a fair proportion of our time talking about customer service and what banking customers really want from their bank. During one of these conversations - the subject turned to who do you bank with, how long have you been there and why. The first two question...
03 June 2011 /retail Finance 2.0
Retired Member
This is what I read on employee fraud by the Financial Services Authority “one of the most serious threats”; an employee knows the inside story of process weaknesses and is often with collusion with an outsider by infiltration as in the case of BofA. Statistics indicate that 60% of frauds are by internal staff (full time employees, contractors or ...
28 May 2011 /regulation /retail Internal Auditors in Financial Services
A bank’s business development manager may not like this at all. I see a need for this. In the last one year I realized quite a few banks knocked on my door to open and maintain my bank account. In addition a few friends who are bankers have asked me to open an account in their banks. This incentive driven business promotion is now spreading like ...
25 May 2011 /retail
What has the world come to when an employer seeks to force employees to ‘shop' their friends' and family's negative feedback? Draconian and Victorian management just cannot work in such an open and transparent world. Management of organisations must realise that it is up to them to monitor and react to both positive and negative feedback in our ...
25 May 2011 /retail /wholesale Innovation in Financial Services
I was having dinner with an entrepreneur in the Indian payments space earlier today. The emerging business models and evolving consumer adoption trends in banking & financial services, soon overshadowed the culinary delights that had adorned the table! A silent revolution is unfolding on the ground, which otherwise appear frequently on busines
18 May 2011 /payments /retail Finance 2.0
The Legacy Systems.. The third wave of core banking transformation is on the threshold of North American banks. It has not moved in the desired pace as expected. The wind sits on the shoulder of the sails. The ship is still in the harbour. The world is waiting and watching with bated breath for something to happen. The core issue is the legacy sy...
16 May 2011 /regulation /retail
I needed $2000.00 for fixing my home. I stepped into my bank for a line of credit. The chap (relationship manager) asked me to fill up half a dozen forms, took a declaration to check on my credit rating, added processing fee and finally told me I can get $1488.00. I said a No! I checked my savings account; a balance of $510 in 3 months depleted to...
10 May 2011 /retail
I came across an enterprising man who worked as a driver and doubled up as the neighborhood milkman. In the initial months, he found himself collecting and carrying large amounts of money on a daily basis, which became quite unwieldy with his day job. To make matters worse, with outstanding dues, leakages in collections and a host of challenges po...
30 April 2011 /payments /retail Innovation in Financial Services
Ward Hagenaar Head of Consulting - Co-Founder at PaymentGenes
As Facebook is now entering the Point of Sale arena in the US with its Daily Deals Offering the question arrises what would be the business model for true payments. Facebook credits are now converted to vouchers and excepted as a partial payment in combination with regular payment methods. Facebook could be regarded as a closed scheme like America...
29 April 2011 /retail
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