All articles by Farah Halime
Farah Halime
EDB extends self-service to complex loans
EDB Business Partner, an IT service provider, has launched a new version of its self-service lending service that claims to revamp the lending sector Farah Halime spoke to Mikael Krohn, vice-president of the firm, and Hilde Karlsen, who heads the new service, about taking lending a step further. EDB Business Partner, Norways second-largest IT provider after US-based firm IBM, has enhanced its self-service lending solution to allow consumers to apply for and receive complex loans via an automated system.
Temenos, CSC strike up core banking agreement
Temenos, the core banking software supplier has teamed up with CSC, an IT service provider to improve delivery and service capabilities at German, Austrian and Swiss banks The agreement aims to provide faster and more cost-efficient core banking solutions at select banks in the regions
BBVA Compass’s social media venture pays off
BBVA Compass, the US subsidiary of Spains BBVA, has announced the first of five winners in its Build My Savings Account contest on Facebook The bank launched its first context through social networking site Facebook on 22 June to reward people for setting savings goals
SocGen posts ?2.15bn in profits and forecasts ?3bn
Socit Gnrale (SocGen) posted a surge in net income for the first half of 2010 at 2.15bn ($2.8bn) compared to 31m in 2009 SocGen forecast 3bn in profit for 2010, but the bank sounded a cautious note and said the economy remains fragile
Experian tackles lean times
The financial crisis has catapulted the debt collection sector into focus, with rising delinquencies forcing many consumers to default Simon Waller, head of collections and recoveries at Experian, tells Farah Halime how the firm will meet the challenges of a changing economic climate despite coming under increasing financial pressure. Unemployment has risen, household incomes have dropped and consumers ability to service debt has also declined sharply amid ongoing credit troubles in the financial sector.
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Citi app flaw raises doubt on m-banking service
Citi bank, the USs third largest by assets, has told its customers to download a mandatory upgrade of the iPhone application after a security flaw was found, raising doubts about the banks already struggling m-banking service According to The Wall Street Journal, the Citi mobile app saved personal account information in a hidden file on users iPhones, impacting the security of around 117,600 customers who have signed onto the app since its launch in March 2009
Lloyds ends sale of PPI
Lloyds Banking Group has stopped selling payment protection insurance (PPI) products across all its brands and channels, months after a provisional ban by the Competition Commission The UKs largest retail bank said policies will no longer be available to new customers alongside Lloyds TSB, Halifax, Bank of Scotland, Cheltenham & Gloucester and Black Horse personal loans, credit cards and mortgages.
Deutsche’s PBC unit posts “best quarterly result”
Deutsche Bank reported net income of 1.2bn ($1.5bn) for the second quarter of fiscal 2010, up 8.3% from 1.1bn in the year ago quarter, but ahead of analysts forecasts But the banks private and business clients (PBC) unit delivered the best quarterly result since the peak of the financial crisis, according to the banks chairman Josef Ackermann
Payments revolution – fast and mobile
The growth of mobile payments looks set to create significant changes across the payments landscape and change the way consumers interact with banks Nick Senechal, head of product development at VocaLink, discusses the key challenges still facing banks in enabling mobile payments to hit the mainstream. There have been significant changes within the payments industry over the past couple of years, not least the introduction of the UKs Faster Payments Service (FPS) and the slow but steady decline of the cheque.
Only 7 banks fail EU-wide stress tests
Just 7 of 91 European banks failed a widely-publicised stress test, far fewer than expected, and will be forced to meet higher capital requirements. Of the 91 banks that represent 65% of the European market in terms of total assets, no major retail banks failed. The failed banks include five Spanish cajas, the countrys small regional lenders, Germanys Hypo Real Estate and Agricultural Bank of Greece, the latter two of which are government-owned.