Latest Co-operative Bank Plc News: Finextra Research

Co-op to pilot in-store supermarket banking

The UK's Co-operative Group is piloting an in-store banking scheme which will introduce financial self-service facilities across its larger supermarkets.

27 August 2008

/retail

UK's Faster Payments service goes live

The UK's faster payments service, designed to provide customers with near real-time transfer of phone, Internet and standing order payment instructions - has finally gone live.

27 May 2008

/retail

New Co-op credit card rewards ethical shopping

The UK's Co-operative Bank has launched a new credit card that rewards customers for making ethical purchases.

01 November 2007

/retail

UK Web banks come out top for customer satisfaction - study

The UK's direct banks are outperforming their high street rivals when it comes to customer satisfaction, according to a survey conducted by consumer group Which?

01 August 2007

/retail

Co-op to cut 1000 jobs as Internet challenges traditional banking model

Co-operative Financial Services is to cut 1000 back office jobs by the end of the year in a bid to save £100 million in annual operating costs and prepare the bank for a new era of Internet-based competition.

20 July 2007

/retail

Prosper and Forbes tap Facebook; Co-op Bank joins MySpace

US person-to-person lending platform Prosper and business news provider Forbes have both developed virtual applications designed for users of online social networking site Facebook. Meanwhile in the UK the Cooperative Bank has launched its own profile on MySpace.

25 May 2007

/retail

Co-op awards TietoEnator five-year managed services deal for mortgage processing

TietoEnator has won an extended five-year deal with the UK's Co-operative Bank to outsource software and hardware support for its mortgage administration system.

26 April 2007

/retail

Banks censured for dumping customer data in bins

The UK's Information Commissioner's Office (ICO) has found 11 financial institutions in breach of the Data Protection Act after they dumped customers' personal details in outdoor bins.

13 March 2007

/regulation

Co-op rolls out Experian debtor risk assessment technology

The UK's Co-operative Financial Services (CFS) has installed CRM technology from Experian which provides an up-to-date risk assessment of all customers and highlights any changes in financial status. The implementation comes amid rising concerns among banks about high levels of personal debt and the impact of individual voluntary arrangements (IVAs) on credit quality.

05 January 2007

/retail

Wincor Nixdorf wins Co-operative Bank ATM outsourcing contract

The UK's Co-operative Bank has signed a seven year outsourcing contract with Wincor Nixdorf for the end-to-end management of its entire 2400-strong ATM network.

15 August 2005

/retail

Co-op cuts more jobs at insurance arm

The UK's Co-operative Financial Services is cutting a further 170 jobs at its insurance services arm under plans to modernise the business and shift work to direct channels.

10 December 2004

/retail

Co-op Bank signs with IBM for anti-money laundering system

The UK's Co-operative Bank has contracted with IBM's newly-launched European Financial Crime unit in London for the supply and implementation of an anti-money laundering (AML) system.

16 November 2004

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