All articles by Meghna Mukerjee
Meghna Mukerjee
Citi’s new campaign with US Olympic and Paralympic qualifiers
Citibank has launched a national advertising and marketing campaign in the US featuring 13 Olympic and Paralympic qualifiers, hopefuls and alumni who are members of Team Citi. This is the first time Citi is sponsoring the US Olympic and Paralympic teams and all sponsorship-related advertisements tie into the theme: Every Step of the Way. Citis chief brand officer, Dermot Boden, said: Citis sponsorship of Team USA is a significant asset to our brand and our business as a platform to engage clients and consumers in a meaningful way, particularly as we mark our 200th anniversary.
Citibank Korea launches ‘Financial Product Development Contest’
Citibank Korea is conducting a Financial Product Development Contest for both customers and employees, in commemoration of the 200th anniversary of Citi, that will allow the winner to receive a cash prize of KRW10m ($87,09.97). Two best idea winners will get KRW1m from Citibank Korea and three good idea winners will be awarded KRW500,000 respectively. The Financial Product Development Contest is taking place between 14 May and 15 June and will be judged on ingenuity of the idea, commercial viability, and expected effect of the proposed financial product. Winners of the contest will be announced in early August.
BNZ deploys NCR predictive services for ATM network
Bank of New Zealand has deployed NCR predictive services across its ATM network to identify and rectify ATM faults before they occur. Within a year of this technology deployment, BNZ has reduced its ATM downtime by a third. Channel manager for ATM and self-service at BNZ, Paul Johnson, speaks to Meghna Mukerjee. If there was a technology to predict problems before they occur and fix potentially faulty situations, safe to say it would save time, energy, and stress. Bank of New Zealand (BNZ) now has such a technology for its ATM network. BNZ has deployed predictive services, by US-headquartered self-service solution provider NCR, across its ATM network that has enabled the lender to reduce the downtime of its ATMs by a third. According to BNZ, a subsidiary of National Australia Bank (NAB), reducing the downtime equates to serving customers for an extra 20,000 hours each year across the lenders 450-strong ATM network.
Allied Bank to launch mobile banking services
Lahore headquartered Allied Bank plans to launch mobile banking services and has announced the deployment of mCommerce solutions from software vendor Sybase, and consulting, IT and outsourcing firm AbacusConsulting, to support its m-banking initiative. Allied Bank, being one of the largest banks in , has been capitalising on technology to provide fast and cost efficient services to its customers, according to the lender. Pakistan is one of the fastest developing markets in the world for mCommerce and these new technology deployments will create opportunities of unprecedented scale for bank customers, the lender has added.
JP Morgan Chase launches reloadable prepaid card
JP Morgan Chase has launched a reloadable prepaid card, Chase Liquid, as an alternative to current accounts, with the aim of offering customers financial control and flexibility. Chase Liquid is meant to be a low-cost alternative to traditional current accounts, with clear and simple terms, according to the lender, and consumers can use the cards to pay bill and make purchases without any surprise charges. Chase Liquid will reportedly be available in approximately 200 branches during the pilot phase and will be made available across the US over the next few months. Todd Maclin, CEO of Chase consumer and business banking, said, We are working hard to deliver great service to all of our customers, and to create a wider range of products that meet many different needs.
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Halifax’s new app for property and mortgage finance
Halifax has launched UKs first Home Finder app, which aims to offer customers a one stop shop that combines property search facilities, mortgage affordability calculators, local area information and property buyers guides. Available to download on the iPhone, the free Halifax Home Finder app enables users to book house viewings, rate properties, add comments and images of the property during viewings and subsequently share their thoughts with family and friends via an emailed PDF summary. The app enables house hunters to view properties currently for sale in the surrounding area, wherever they are, simply by holding up their smartphone, and prospective buyers can work out how much they might be able to borrow and estimate their new monthly mortgage repayments as well using the built-in mortgage and repayment estimator. The Home Finder app also gives customers access to land registry data, local area guides highlighting information such as distance from schools and train or tube stations in the local vicinity, and homebuyer guides that include tips to support buyers.
60% customers to use m-banking globally by 2015
According to findings of the World Retail Banking Report 2012, released by Capgemini and Efma, 60% consumer globally are expected to use mobile banking by 2015 even though the channel is currently offering the least positive customer experience. RBI takes a look at some revelations and suggestions from the report. By 2015, more than 60% of customers worldwide will likely be using mobile banking, according to the ninth annual World Retail Banking Report 2012 released by Capgemini and Efma on 26 April. According to the World Retail Banking Report 2012, although mobile banking is currently offering the least positive customer experience, it has also shown most amount of improvement amongst all banking channels.The report reveals that mobile banking services have yet to be fully leveraged and to succeed in this market, lenders will need to align their mobile strategies to better fit the size, profile and region of their targeted customer segments.
ING Vysya Bank sells 24-carat gold coins at branches
ING Vysya Bank, the Indian private lender that came about from the 2002 merger of the ING Group and Indian Vysya Bank, has launched the sale of 24-carat gold coins. ING Vysya will offer gold coins in denominations of 5 grams, 8 grams and 10 grams with discounts to select retail customers. The gold coins have reportedly been imported from Switzerland. According to ING Vysya, gold retailing is part of the lenders overall strategy to offer end-to-end investment products and services across all banking verticals. Uday Sareen, country head of retail banking for ING Vysya, said in a statement that gold as an asset class is a key alternative investment avenue for individual investors and also acts as a natural hedge against other asset classes.
Wells Fargo launches community website for college education planning
Wells Fargo has launched a free community website, for students, parents, guidance counsellors, and financial advisors, with the aim of making it a platform for open dialogue about topics related to college planning. The Wells Fargo Community site aims to provide information regarding when to begin planning for higher education, how to select a major, how to finance an education, and housing. Head of Wells Fargo Education Financial Services, Kirk Bare, said, Students and parents have a number of questions when it comes to college planning, so we are facilitating the sharing of knowledge, advice and experiences through the Wells Fargo Community. According to Wells Fargo, developing a plan to pay for college education has become increasingly important to a large portion of the US population as the overall expenses are increasing every year.
Clydesdale and Yorkshire banks to cut 1,400 UK jobs by 2015
The Clydesdale and Yorkshire banks plan to cut 1,400 jobs in the UK by 2015, it has been announced, following the UK Strategic Review Outcome by National Australia Bank (NAB). Results of the strategic review of NABs UK operations, released on 30 April, has also revealed that Clydesdale and Yorkshire banks plan to simplify their business model to focus on retail operations and SME business lending across traditional Scottish and Northern England. Reduction of 1,400 roles is being planned by September 2015 and the overhaul is expected to shrink the size of the UK operation considerably, which has 337 branches and a 8,300-strong workforce. On 7 February, NAB CEO Cameron Clyne had said in a statement.