All articles by Meghna Mukerjee
Meghna Mukerjee
Branch of the Future
The Branch of the Future webinar, held on 26 October, presented by Retail Banker Interactive in association with Finacle from Infosys, was a holistic, information packed session that threw light on various aspects of bank branches and their evolution in todays context.
Nationwide launches Simply Rewards scheme for card customers
UKs largest building society by assets, Nationwide, has launched a new reward scheme for its VISA debit and credit card customers. Simply Rewards aims to provide Nationwide card customers with exclusive savings on big brands, as part of the lenders revamped On your Side campaign. There are no points to redeem or fees to pay for this rewards scheme. Retailers such as Clintons, Microsoft, Tesco, Kwik Fit, Lastminute.com, The Gourmet Society, Virgin Holidays, and West End Theatre are offering discounts to Nationwide customers as part of the Simply Rewards scheme. Nationwide launched its new On your Side campaign in September targeting existing and new customers which overhauled the building societys entire marketing and advertising initiatives.
DBS partners with Singapore Post to provide banking services at 140 outlets
Southeast Asias largest bank by assets, DBS, has partnered with Singapore Post (SingPost) to offer basic banking services at all SingPosts outlets from 3 January 2012. This is a first-of-its-kind tie-up in Singapore between a postal service provider and a bank. DBS Group operates two brands in Singapore – DBS and POSB – and together has approximately 80 branches across Singapore. This partnership between DBS and SingPost is expected to almost double that branch network, as DBS and POSB customers will be able to conduct banking transactions at 140 outlets.
Absa to launch new ATMs and self-service kiosk experience
Barclays South African subsidiary Absa has planned a series of innovations involving its ATM network, with the aim of altering the self service banking experience. Managing executive of Absa digital channels, Christo Vrey, has said the range of innovations are expected to reduce the length of queues in branches, aiming to make access to several banking options more convenient for customers. The new Absa ATM interfaces are expected to feature designs and animations, intuitive screen navigation, faster transactions, anti-skimming security enhancements, video-based information messages and a reduced risk of ATMs going offline.
ASB Bank taps into Google+
New Zealand based lender ASB Bank (ASB) has expanded its social media presence by creating a page for itself on Google Pages, after Google was opened up to businesses last week. Having an active presence on Facebook, Twitter, YouTube already, Google was a natural next step for ABS, as the lender has received regular feedback from its community about how useful it is to be able to engage with ASB on Facebook and Twitter, informed ASBs general manager internet banking, Anna Curzon, in a statement. ASB already has 182 followers on its Google page and 143 members in its Google circles.
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Sainsbury’s Finance uses Teradata solutions to build customer loyalty
Sainsburys Finance is using Teradata software solutions to bring all its data onto a single platform and build a virtual customer-loyalty loop. The Teradata solution aims to avoid duplication of data and provide analytical solutions for Sainsburys Finance. We needed a provider that could bring all of our data sources together, a company that would be able to build a solution from scratch and future-proof it, said Simon Axon, head of customer insights at Sainsburys Finance.
HSBC denies Facebook style platform launch
HSBC has rubbished press reports that it is planning to launch an online platform along the lines of Facebook. In a report on 8 November, UK-based marketing publication PRWeek said that HSBC putting social media at the heart of its UK business growth strategy, with an ambitious blueprint to create a dedicated digital offering. PRWeek said that HSBC is planning to create a new online platform catering to non-financial customer needs, quoting an industry source saying that HSBC wants to set up their own version of Facebook. But a spokesperson from HSBC told RBI, We certainly have no plans to set up a platform similar to Facebook.
BankSimple rebrands as ‘Simple’ and issues first card for customers
BankSimple has rebranded as Simple and issued its first card for a non-employee customer. The US start-up had announced issuing its first cards to the company staff in May and presented the first glimpse of its user interface through a video on its website in September. Joshua Reich, Simple CEO, has said on the company blog that Simple is a better representation of what we aspire to. Reich has added that the name Simple releases the company from the constraints of an industry in desperate need of innovation.
BofA Merrill launches chip-and-PIN cards for international travellers
Bank of America Merrill Lynch (BofA Merrill) has launched chip-and-PIN corporate cards for its customers who travel internationally. The new card is a direct result of customer demand, BofA Merrill has said in statement. BofA Merrill aims to improve acceptance and security for cardholders with the new EMV card. EMV-technology supported cards named after its original developers Europay, MasterCard and Visa are safer than magnetic stripe cards and feature embedded microprocessor chips that store and protect encrypted account data.
Durban buses to go contactless with Standard Bank powered Muvo card
Muvo card, a new public transport smartcard powered by South Africa-based lender Standard Bank and developed by its innovation arm Beyond Payments, is preparing to pilot a contactless payments system for the bus network in Durban, South Africa. Alongside Beyond Payments, Muvo card is being delivered in partnership with South Africa’s National Department of Transport (NDoT) and transport IT specialist Almex. Muvo card will tap MasterCards pre-authorised debit system and Paypass NFC technology. It will have no monthly charges. Muvo card aims at enabling commuters to pay for their trips by tapping their cards against the electronic ticketing devices installed on the buses.