All articles by Duygu Tavan
Duygu Tavan
Text analytics platform to help banks extract customer sentiment via social media platforms
Attensity, a vendor specialising in integrated suites of customer analytics and response applications, has launched a new text analytics platform for retail banks to evaluate customer sentiment and forecast demands Attensitys Retail Banking Industry Solution enables banks to extract customer conversations on social media platforms, email, survey responses and customer relationship management notes via a text analytics platform. The vendor said that the scaling would enable banks to listen, analyse, relate and act on customer conversations, no matter where they take place.
Lloyds TSB partners with Visa, Samsung in 2012 Olympic m-payments service
UK-headquartered Lloyds TSB has been confirmed as the partner of cards issuer Visa and mobile phone provider Samsung to offer contactless payments during the 2012 Olympic games.
Guaranty Trust Bank upgrades IT system
The acting managing director of Guaranty Trust Bank, Segun Agbaje, said that he expects the investment in alternative delivery channels via the new server, called Superdome by Hewlett-Packard, to enable the bank to offer more convenient and affordable services that match international standards. Guaranty Trust Bank is one of the top ten lenders by assets in Nigeria and was named the most customer focused bank in the country by consultants KPMG in 2010.
MUFG full-year net profit up 50%
Japan’s Mitsubishi UFJ Financial Group (MUFG) has recorded a 50% year on yearincrease infull-year net profit to 538bn ($7.2bn). Net interest income for the twelve months to end-March amounted to 2.02tr, a 7.2% decline from the previous fiscal. Income from fees and commission for the year also declined, albeit marginally by 1.3% to 1.08tr.
mobile banking adoption accelerates
Demand for mobile banking has soared by 50% in one year, research by TNS found. In particular, in developing markets such as Kenya, where more people have mobile phones than traditional bank accounts, mobile banking growth has increased by 200%.
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Agricultural Bank of China introduces first integrated circuit card
The Agricultural Bank of China has rolled out the countrys first integrated circuit (IC) card, a smart card that enables the holder to pay for purchases as well as enter restricted areas. Agricultural Bank of China’s IC card, titled Zhangjiajie Tourism Card, is particularly intended for tourism purposes and integrates magnetic stripe technology as well as chip card.
Credit Agricole Q1 net profit up 54%
France’s largest lender by distribution network, Credit Agricole, has posted strong first quarter group net income of 1.64bn ($2.34bn), up by 54.4% from the year-ago quarter. Revenues rose by 7.7% from a year ago to 9bn; while operating income increased by 44.4% to 2.5bn.
Buy v build: IT outsourcing rises
Less than a fifth just 16%, in fact – of financial institutions worldwide prefer to build their IT technology in-house, according to the latest report by Aite Group. The Global Banks Technology Trends report by the consultants found that almost half of all banks (46%) preferred to outsource their IT banking software and services. Aite Groups findings are in line with a report by Celent, who forecast in February that global IT spending would grow by 3.7% to $363.8bn in 2011.
HSBC: strong focus on Mexico, Turkey, Brazil
Following HSBC’s strategy day on 11 May, the bank has named the countries where it will pursue stronger growth of its retail banking business. HSBC distinguised between what it called the large scale markets – Hong Kong, the UK – and markets with high growth potential.
Click & buy: Visa’s digital wallet launches in autumn
Although more than a third of retail banking customers think that banking technology advances too fast, it is no secret that alternative delivery channels are fast becoming an essential part of banks distribution strategy. As banks push towards alternative delivery channels is accelerating, card issuer Visa is to introduce a digital wallet to the North American electronic payments landscape as early as autumn 2011.