All articles by Farah Halime
Farah Halime
Citibank to launch text banking and boost m-banking
Citi, the fourth largest US bank by deposits, has launched a text banking service in an effort to update its mobile banking service and grow its customer base The free text banking service offers on-demand account updates to bank and credit card consumers, including checking and savings accounts, home equity lines and loans, personal lines and loans, and mortgages Liza Landsman, managing director of internet and mobile at the banks North America division, said the text messaging service gives customers an extra way to stay connected to their accounts.
The ‘killer app’ for the unbanked
The latest VRL report, Mobile banking and payments, examines the short, medium and long-term opportunities in the m-banking and payments sectors and how strategy differs in emerging and developed markets According to the following excerpt from the chapter Banking the Unbanked, the mobile phone has become the killer app for the unbanked. Banks worldwide are realising that banking the unbanked population can represent a compelling business proposition
Barclays revamps m-banking after reaching 4m hits a month
Barclays Bank, the second-largest in the UK by assets, has refreshed its mobile banking service one year on from launch, after reaching more than 4m hits a month. The bank has tapped into the success of its South African subsidiary Absa, one of the worlds most successful mobile banking operators By the end of November 2009, the number of Absa m-banking customers had reached 1.6m.
US ‘big 5’ outperform regional banks
The 2010 Retail Bank New Account study found that on average, large national banks attract 70 percent of prospective customers who consider using them for a new account or new primary financial institution, while regional banks secure only 59 percent of these shoppers The five large national banks included in the survey are Bank of America, Chase, Citibank, Wachovia and Wells Fargo; the 16 regional banks involved in the report include Citizens Bank, Fifth Third Bank, HSBC, and TD Bank
Santander appoints Greenlight to boost online presence
Santander has unveiled plans to beef up its online presence in an effort to boost traffic to its website and improve its ranking on Google. The eurozones largest bank by market capitalization has signed up the Greenlight marketing agency to manage its natural search activity in the UK Santander selected Greenlight over other agencies including Tamar, Carat and Bigmouthmedia
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Boots first retailer to trial MasterCard’s contactless
Boots, Britains pharmacy-led health and beauty retailer, has launched the UKs first contactless transaction using MasterCards PayPass system The contactless technology, available at Boots Canary Wharf outlet, follows a deal struck with the Boots retailer, MasterCard and merchant acquirer RBS WorldPay Customers will be able to use the Tap & Go system for everyday purchases under £15 ($22) in less than a second, with the service initially available in 21 stores in London and Liverpool
StanChart, Agricultural Bank of China close deal
Standard Chartered (StanChart) has signed a deal with Agricultural Bank of China (ABC) in an effort to boost the banks presence in mainland China The deal will also give ABC access to Asia, the Middle East and Africa, where StanChart earns 90% of its income and profits.
Metro branch launch date confirmed
Metro is set to open its doors to retail and business customers on 29 July after a much anticipated build-up for the new entrant into the UK retail market The first branch, or store as the bank prefers to call it, will launch in Londons Holborn district, followed by a second branch opening in the capital a week later Metro said it will adopt a model that is in sharp contrast to the traditional UK bank branch operation and will transform the face of British banking
BNP Paribas, Commerzbank in consumer credit joint venture
BNP Paribas Personal Finance (BNPP) has entered into a joint venture with Commerzbank in an effort to become a major player in providing consumer credit in the German market by 2012 Commerz Finanz is 50.1%-owned by BNPP and 49.9%-owned by Commerzbank offering point-of-sale financing at 5,500 sales outlets and Commerzbanks 1,200 branches across Germany
Commerzbank, Dresdner launch branch re-brand
Commerzbank is re-branding its branch network in an effort to bring its merger with Dresdner Bank in line with its market presence. More than 1,200 outlets across the country will bear the new logo, adopting Commerzbanks signature yellow colour, by the end of August 2010 as part of a drive to solidify the banks tie-up with Dresdner in 2008. From now on we are sailing under one flag all the customers of Dresdner Bank and Commerzbank have a common bank, said Martin Blessing, Commerzbanks chief executive