All articles by Duygu Tavan
Duygu Tavan
Sberbank in JV with BNP Paribas in Russia
The agreement comes a month following rumours that Sberbank had set its eyes on BNP Paribas’ Russian retail banking arm Cetelem in May. The two banks will offer consumer loans in retail stores across Russian and expect to grab a 30% share in the market within the next two to three years.
Kuveyt Turk converts ATMs into gold dispensers
The announcement comes five months after Kuveyt Turk commenced offering gold coins via ATMs, offering gold deposit accounts from which customers are able to withdraw gold coins weighing 1 to 2.5g via the banks ATM network, or buy gold using cash or a credit card
ING Direct’s US business sold to Capital One
Dutch lender ING’s US online banking business ING Direct USA has been sold to Capital One for $9bn. ING’s divesture of its online banking business in the US marketwas ordered by the European Commission(EC) following INGs receipt of a 10bn ($14bn) bail-out by the Dutch government
Erste Bank launches iPhone2iPhone payments service
The launch of the iPhone app follows a more basic app that was launched in 2010 and will enable iPhone users to transfer money in real-time to other iPhone users – a separate app for Android devices is expected to be launched at the end of the year.
HSBC sells Russian retail business to Citi
The divestment of the Russian retail banking business is part of HSBC’s new strategy to reduce in costs by fine-tuning and focusing its group retail banking business to markets it identified as profitable.
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US Bank beats JPMorgan EMV initiative with dual interface card
JPMorgan Chase was the first to introduce the first chip-and-PIN card in the US – but now rival lender US Bank has taken the competition for differentiation up a notch by launching the first dual interface card in the country.
Visa strikes two deals with Monitise, Fundamo
Visa is set to further penetrate the global payments market with two deals that will stimulate the card issuers reach in developing countries as well as the US market. Visa has acquired South African mobile financial services provider Fundamo, which provides mobile payment platforms for both mobile network operators and financial institutions in developing economies.
HSBC Gulliver adamant to get rid off US card business
HSBCs CEO Stuart Gulliver is adamant to get rid off the banks US cards business. Speaking at the sidelines of the World Economic Report in Jakarta, Gulliver made his first definitive statement on HSBCs $33bn US credit card business, saying:
FICO takes 30% of German credit cards under protection
FICO is getting tough on credit card fraud in Germany with its FICO Falcon Fraud Manager solution. The data analytics and decision management technology provider said that from autumn on, its fraud protection solution will protect 8.8 million, or 29%, of the total credit cards in circulation in Germany
Visa links UAE-Philippines remittances with UAE Exchange, Union Bank of the Philippines
News about Visa’s push into the payments space seem endless nowadays – the card issuer has now announced that it agreed a deal with the Union Bank of the Philippines to introduce remittance services to Visa debit card holders on the Asian island.