All articles by Meghna Mukerjee
Meghna Mukerjee
Alior Bank launches Poland’s first digital bank and branch
Warsaw-headquartered Alior Bank has launched a virtual bank and branch, Alior Sync, pitching it as a novel financial services firm for the digitally savvy customer base. The new digital banking system combines different types of banking services and popular online entertainment platforms as well as Facebook into the banking interface. Internet banking, mobile banking, PFM and payments technology software vendor IND Group has provided software solutions for Alior Sync.
Discover launches home loans product
US-based Discover Financial Services has launched Discover Home Loans and marked its entry into the mortgage market. The new Discover Home Loans product will complement the company’s line of savings, lending and other direct-banking products, according to Discover. Carlos Minetti, president of consumer banking and operations for Discover, said: Home loans are a product our customers have been asking for, and our approach offers the simplicity, transparency and personalised service for which Discover is known.
DBS Bank launches instant mobile rewards redemption app
South-East Asias largest lender DBS Bank has launched the DBS Rewards mobile app, enabling cardholders to instantly redeem rewards through their mobile phones. According to the lender, the new DBS Rewards mobile app will form an integral part of DBS suite of mobile offerings and further enhance the comprehensive card experience for customers. In addition to instant rewards redemption at participating DBS merchants, cardholders can browse, save chosen rewards and redeem the points via their mobile phones. Customers can also track their rewards usage and use the built-in augmented reality feature to search for nearby participating DBS merchants for instant redemption.
Lloyds to sell Japanese remittance business to Shinsei Bank
Lloyds Banking Group plans to sell its remittance business in Japan GoLloyds to Tokyo-headquartered Shinsei Bank for an undisclosed sum. The decision to sell GoLloyds is reportedly in line with Lloyds strategy of reducing its international presence and concentrating on its domestic market in the UK. According to Lloyds, its Japanese remittance business involves a branch that performs remittance and deposits business.
Standard Bank deploys Finacle digital commerce solution
Technology vendor Infosys has partnered with South Africa-based Standard Bank to deploy its Finacle digital commerce solution to power agency banking across the lenders markets in Africa. The Finacle digital commerce solution will reportedly enable Standard Bank to offer value-added financial services to consumers such as customer on-boarding, cash deposits, cash withdrawal and banking transactions, and service request while reducing cost of operations for the lender by managing agents using the mobile or online channels, to service remote customers. The Finacle digital commerce solution enables instant cashless payments and commerce between merchants and consumers, and also allows consumers to consolidate payment instruments such as accounts, cash or cards, on a single digital wallet, made accessible on their preferred digital channel.
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SEB completes sale of Ukrainian retail banking unit
Swedens second-largest bank by assets, SEB, has completed the sale of its retail banking business in Ukraine to Eurobank, on 7 June, 2012. Plans to sell SEBs retail banking operations in Ukraine to Greece-based Eurobank due to business being limited were announced on 18 November, 2011. Eurobank is the third largest bank in Greece with more than 300 branches across the country.
Marks and Spencer to open M&S Bank
High street retailer Marks and Spencer has announced plans of launching M&S Bank across the UK, with a 50-branch roll-out over the next two years. The new M&S Bank will be backed by HSBC. The first M&S Bank in-store branch will open at Marks & Spencers flagship Marble Arch store in London in July. Current accounts will be made available for customers from autumn 2012 and pre-registrations will begin in July. Marks and Spencer began offering financial products in 1985. M&S Bank will reportedly create 500 new UK jobs by the end of 2013 and mortgages will be offered at a later date.
BNP Paribas launches ‘Need Help?’ app for Facebook
French-lender BNP Paribas has launched a Need Help? application for Facebook, aiming to strengthen its customer relationships. The Need Help? app allows users and BNP Paribas fans to submit questions directly through Facebook and a team comprising of a dozen advisers and experts in customer relations 2.0 are responsible for responding to the customers queries. BNP Paribas aims facilitate interactions around the lenders products, services and news through Need Help?, alongside assisting customers in managing their accounts and obtaining account-related information.
UBA Ghana launches cardless ATM withdrawal service
Lagos-headquartered United Bank for Africa (UBA) has launched a cardless ATM withdrawal feature in Ghana as part of the lenders ATM value added services. The newly added ATM services are powered by the e-Transact software platform and aim at creating branchless banking in Ghana. CEO of UBA Ghana, Oliver Alawuba, said apart from the cardless ATM withdrawal feature, customers of UBA will be able to pay their utility bills and buy mobile phone credit through the value added ATM services.
ABN AMRO-Temenos to co-develop new payments hub
ABN AMRO and banking software vendor Temenos have partnered to co-develop a new payments system built in conjunction with Temenos software platform to be implemented globally. Group product director for Temenos, Mark Winterburn, tells Meghna Mukerjee about the joint venture and how the vendor plans to differentiate itself in the payments market. ABN AMRO has partnered with banking software vendor Temenos to develop a new payments system to be implemented globally, and built in conjunction with the new Temenos Enterprise Frameworks Architecture (TEFA) a platform for Temenos T24 core banking software. The plan to co-develop the new payments system was announced at the Temenos Community Forum in Barcelona on 24 May. The payments system aims to be available as a standalone solution, to enable seamless operations in real-time with any core banking or current accounts system.