All articles by Duygu Tavan
Duygu Tavan
Wells Fargo, Bank of America, JP Morgan in JV for e-payment platform
Three of America’s biggest banks have announced that they will join forces in offering an online banking services, titled clearXchange, to their respective customers. Wells Fargo, Bank of America and JP Morgan said that the joint online bankingplatform would enhance the qualityof their service and make transactions easier for customers.
Huntington extends Saturday opening hours
Huntington Bancshares, one of the top 20 US lenders, is proving its commitment to enhance customer satisfaction with the extension of opening hours. Ohio-based Huntington introduced a free current account, titled Asterisk-Free Checking, as part of its Fair Play banking strategy at the beginning of May and is now going to open from 9am to 2pm on Saturdays across its 389-unit strong branch network.
Akbank goes live with m-payment app
Akbank has introduced a payments-enabled mobile phone app with which the banks customers can remitt money to accounts, credit cards and Akbank ATMs. The service is, simply, called Send Money and is promised to take just 20 seconds for funds of up to TRY1,000 ($625.50) per day to be transferred
MasterCard: 63% of Gen Y want NFC
The latest survey by MasterCard has revealed that 63% of card holders aged between 18 and 34 would be comfortable with using their mobile phones for purchases via near field communication (NFC) technology. The results for the 18-34 age group were in contrast with the older card holder group (aged 35 and older), where 37% supported NFC payments.
m-banking: bridging the gap on value propositions
In the complex and fast evolving ecosystem of mobile payments, it can be hard for vendors to differentiate themselves from the abundant number of competitors vying to get a slice of the markets lucrative potential. From a banks perspective, the biggest challenges are, on the one hand, meeting customer requirements and, on the other hand, figuring out whether to build relevant software in-house or turn to a vendor to capture customer satisfaction when demands and attitudes are still evolving.
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ICBC internet banking customers number rises to 102m
Industrial and Commercial Bank of China (ICBC) has attracted 100 million personal internet banking customers in a decade and now has an online banking clientele that spans 102 million. ICBC said that over 60% of its banking transactions were conducted via the online platform – more than the total number of transactions conducted in-branch.
HSBC’s Gulliver: retail banking loss in China, India
He told shareholders at a meeting in Hong Kong on 19 May that the bank was losing money in the two markets, but said that HSBC would continue to operate its Chinese and Indian businesses because the bank relies on the yuan and rupee deposits.
Citi in strategic alliance with Akbank for Wings Cards
Citigroup is expanding its global cards distribution network with a strategic alliance with Turkish lender Akbank, in which it has a 20 percent stake. Cit is to add additional features to Akbanks Wings Cards, already the product of the banks collaboration, making the card compatible with Citis global footprint.
TCF gives out $100 to new customers
Known as the originator of free banking, Minnesota, US-based TCF Financial has taken another step inthe battle for deposits among American banks and is now offering $100 for all new and eligible customers who open a current account.
MBNA launches contactless AmEx card in the UK
Bank of Americas UK-subsidiary MBNA has rolled the first American Express branded contactless credit card in the UK. The introduction of the American Express contactless cards, whichwill supportEMV technology, is an addition to MBNAs existing contactless cards portfolio on the MasterCardand Visa networks. MBNA said that the American Express contactless cards will be issued to all customers when acquiring a new or replacement card.