All articles by Meghna Mukerjee
Meghna Mukerjee
Retail operations key focus for Punjab National Bank
It is the second largest lender in India by branches, and retail operations constitute a crucial part of the Punjab National Banks (PNB) operations. Over the last two to three years, our retail portfolio is showing an annual growth of almost 20%, general manager for retail deposits at PNB, SP Sharma, tells RBI. Introducing new offers to the PNB retail loan book is one of the lenders priorities for 2011 and it will continue to be high on the lenders agenda. In October, PNB launched a new offer on its car-loan scheme that would enable car financing up to 100%, and a concession of 0.25% on the rate of interest
Standard Chartered launches Talking ATMs in key Asian markets
Standard Chartered has introduced Talking ATMs in a number of Asian markets to make banking easier and more inclusive for visually-impaired customers. After launch the talking ATMs in Korea, Standard Chartered has introduced them in China, India and Indonesia. Each ATM has a raised 5 to help visually impaired customers use the keypad. Standard Chartered plans to launch its Talking ATMs in the UAE by the end of the year, as well as in Brunei, Hong Kong, Malaysia and Pakistan next year.
Consumers ready to spend five minutes on online banking security checks
Consumers are more tolerant with security procedures of online banking, being prepared to wait almost as long online as in-branch, and undergo five minutes worth of checks with signing up for online banking compared to six minutes in branches, according to a study by global data and decision support specialist, Experian. The study reveals customers are prepared to spend four minutes on average undergoing identity verification and other security checks before they abandon an online retail transaction. User are, however, more tolerant when it comes to online banking security checks, according to the new Experian study.
Mobile banking: Emerging best practice
Mobile banking is growing up fast. But what have banks and their suppliers learned from the many initiatives launched over the past few years? The Retail Banker Interactive webinar Mobile banking: Emerging best practice held in association with Finacle from Infosys, on 23 November, set out to find answers through varied discussions.
BBK launches new mobile banking service
Bank of Bahrain and Kuwait (BBK) has launched its new mobile banking service, with the aim of allowing customers to carry out almost all the lenders retail banking transactions instantly from a mobile phone. Customers of BBK will be able to carry out balance enquiries, account transactions, card payments for the customers card or other cards from any of their accounts, telephone, electricity and water bill payments, transfers, phone top up, as well as cheque book and call-back requests through the new mobile banking service. BBKs head of retail banking, Axel Hofmann, said, Our customers will no longer have to physically visit a bank or worry about opening hours. They can now perform many banking transactions in a faster, safer and more convenient way, 247 through their mobile phones.
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Barclays withdraws retail operations from India
Barclays has withdrawn its retail lending operations from India – a market the lender entered in 2007. The retail business of Barclays is worth approximately $1bn in assets. Barclays will continue the deposits side of its operations and the lender does not plan to shut down any of its 5-branch network in India. Barclays will also continue with its investment banking, corporate banking and wealth management businesses in India. Barclays Indian retail expansion was undertaken when by Frits Seegers, the former chief executive of Barclays global retail and commercial operations. The Barclays expansion strategy in Asia included Indonesia and India both markets that the lender has now moved out of.
Axis Bank to increase retail operations in small towns
Indias third largest private sector lender Axis Bank plans to increase its retail operations by cashing in on the demand in smaller cities. Axis Bank aims at increasing the share of retail loans to 30% of total loans from the current 21% in the next three years, according to senior vice-president and head consumer lending and payments for Axis Bank, Jairam Shridharan. Currently, approximately half of the Axis Banks 1,390 branches are in smaller towns in India.
Santander to sell Colombian businesses to CorpBanca
Santander is selling all of its Colombian businesses, including Banco Santander Colombia, to CorpBanca of Chile. Santanders Colombian operations sale has been valued at 910m ($1.225 bn). Santander has said it will gain 615m from the sale. Chairman of Banco Santander, Emilio Botn, said, Our market share in retail and commercial banking in Colombia is far from the 10% we aim for in the countries in which we have a presence. CorpBanca is Chiles fourth-largest private bank with a market share of 7.5% for loans and 7.2% for deposits on 31 October.
Absa launches South Africa’s first live NFC trial on mobile phones
Barclays South African subsidiary Absa has launched the first live user trial of Near Field Communication (NFC) technology on mobile phones in South Africa. The trial will involve 500 of the banks own staff members, operating in a live commercial environment, and will start in mid-December. Head of Retail Markets at Absa, Arrie Rautenbach, said, Absa is the first institution in South Africa to bring NFC capabilities with an EMV (Europay, Mastercard and Visa) card payment application to a handset. Absa, in partnership with Mastercard, has embedded its Paypass Tap and Go payment card on the handsets for the trial, with the aim of allowing trial participants to load funds into a prepaid store of value on a secure element on the phone, at point of sale, through Absa Online or Absa ATMs.
Gulf Bank’s online banking competition offers MacBook and iPad as prizes
Gulf Bank has launched an online banking competition, enabling customers to transfer local and international funds to win prizes like the MacBook Pro and iPad 2. Gulf Banks online banking competition will continue till 31 December. The online banking customer who has the highest local and international banking transactions during the competition period will win a 13 inch MacBook Pro. Gulf Bank plans to have five runners ups who will each win an iPad 2.