All articles by Meghna Mukerjee
Meghna Mukerjee
HSBC and Lloyds TSB get highest mentions online for 2011 reveals DigitalMR report
HSBC and Lloyds TSB have the highest mentions on the internet for the whole of 2011 and loans are the most discussed topic online, according to the first annual UK Banking Social Media Report on what customers are saying about UK high street banks online by social media research company DigitalMR. DigitalMR analysed over 200,000 customer comments on the internet about high street banks across January to December 2011. Banks have attracted both positive and negative mentions over the internet with HSBC (14.4%) and Lloyds TSB (13.5%) topping the list. Halifax (10%) comes next on the list of online mentions closely followed by RBS (9.6%) and Santander UK (9%). HSBC (9.5%), Lloyds TSB (7.8%) and Halifax (9.5%) have also received the highest share of positive posts.
Axis bank partners NIIT to develop post graduate diploma course in retail banking
Indias third largest private-sector lender, Axis bank, has partnered with NIIT Institute of Finance Banking and Insurance Training (IFBI) to introduce a post graduate diploma in retail banking (PGDRB). The new post graduate programme also aims to build a pool of modern banking professionals for Axis Bank as besides receiving professional training on the banking standard followed at Axis bank, the PGDRB programme will allow selected students to join Axis Bank directly as Front Desk Officers (FDO). The new post graduate programme has been designed by IFBI with the aim of making professionals competent on domain, application, technology and customer-service. Admission to the PGDRB course is designed to take place through an admission test and a follow-on interview.
Payday loans debate hots up
As payday loans surge in popularity across the US and Europe, leading to a mushrooming of small- and medium-sized non-bank lenders, the debate over whether big US banks offering expensive short-term loans is actually helping customers immediate cash needs or pushing them into further debt continues, writes Meghna Mukerjee. The decision on 24 February that the UK Office of Fair Trading (OFT) is to investigate 50 payday lenders amid concerns some firms are taking advantage of the vulnerable should come as no surprise.
Welcome to the future
The annual FinovateEurope 2012 expo took place in London in February, bringing together technology companies ranging from established global players to start ups to showcase their latest products, ideas and plans Meghna Mukerjee met up with the participants and picks out some of the show highlights. FinovateEurope 2012 in London on 7 February, maintained its reputation for bringing together some of the most exciting banking technology innovations for the European market.
Financial inclusion key priority for FNB
South Africas First National Bank (FNB) has reported a jump in transaction growth through mobile banking and, according to the lender, the channel is making affordable banking accessible to all
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UK AVA fees approach £2bn a year
The number of packaged current accounts offered by big banks in the UK is increasing but lack of transparency and difficulties around switching current accounts make it difficult for consumers to choose the right one The Big Four banks in the UK Lloyds, Barclays, Royal Bank of Scotland (RBS) and HSBC account for 77% of personal current accounts in the UK retail banking market, and competition is on the rise among lenders to attract new customers and retain existing ones, alongside differentiating themselves.
Webinar on digital banking
The fifth webinar presented by Retail Banker Interactive in association with Finacle from Infosys, on 30 January 2011, focused on how digital banking is evolving and highlighted how user experience over digital banking platforms plays a pivotal role in increasing a lenders appeal to the consumer, writes Meghna Mukerjee. The fifth webinar presented by Retail Banker Interactive in association with Finacle form Infosys focused on digital banking and revolved around how user experience over digital platforms can play a pivotal role in influencing and increasing a banks appeal to the customer. Editor of Retail Banker International, Douglas Blakey, who chaired the webinar, started the session saying there is a creative need for all organisations to build on their cross channel activity and ensure a continuous engagement with customers in order to maintain a regular and close connect.
PayPal and la Caixa launch JV
PayPal has partnered with Spanish lender la Caixa to integrate its Instant Account Creation solution with the lenders online banking platform. PayPals director general in Spain and Portugal, Estanis Martin de Nicolas, tells Meghna Mukerjee how the integration provides la Caixa customers with convenience and PayPal with a new customer acquisition channel. It is a first, and according to PayPal, a first among many. PayPal has partnered with la Caixa Spains largest lender by branches to integrate its Instant Account Creation solution with la Caixas online banking platform. This is the first time that PayPal has integrated its account opening services with any banking platform.
Ecobank deploys Oracle FLEXCUBE in 30 countries
Ecobank has implemented Oracle FLEXCUBE solutions across 30 African countries, the vendors largest multi-country implementation in Africa, allowing Ecobank to serve over 7m users through a standardised processing platform. Pradeep Dwary, group head, Ecobank Technology Applications, and Kishore Kapoor, global head of consulting and services, Oracle FLEXCUBE, discusses the deal with Meghna Mukerjee. Togo-headquartered Ecobank Transnational (Ecobank) has updated its core banking software and implemented new solutions from Oracle with the aim of standardising its processing platform across its affiliates in 30 sub-Saharan African countries. Ecobank present in more countries in Africa than any other bank in the world has implemented Oracles FLEXCUBE Universal Banking and Direct Banking platforms, as well as Oracles risk analytics solutions. The Ecobank tie up is Oracle FLEXCUBEs largest multi-country implementation in Africa to date enabling the lender to serve over 7m customers via more than 1,100 bank branches.
Barclays rolls out innovative SMS service – Pingit
Barclays has launched Pingit a P2P service for UK current account customers to send and receive money free of cost using text messages. Barclays retail and business banking COO, Shaygan Kheradpir, tells Meghna Mukerjee how this digital ATM may initiate a retail banking renaissance. Barclays has launched Pingit a person-to-person service for sending and receiving money free of cost using mobile phone numbers. Launched on 16 February, Pingit a first in Europe enables UK current account holders with a UK smartphone handset to send or receive money without sharing bank account details. Barclays has over 11.9m current account customers who can send money through Pingit to another current account user of Barclays or any UK bank or building society.