All articles by Meghna Mukerjee
Meghna Mukerjee
ING agrees sale of Canada unit to Scotiabank
Dutch bank ING has reached an agreement to sell ING Direct Canada for a total consideration of C$3.1bn ($3.1bn) to Canadas third largest lender by assets, Scotiabank. According to ING, the transaction is a result of the lenders continuous evaluation of its portfolio of businesses and is in line with INGs strategic objectives of sharpening the focus of the bank and strengthening its capital position. Jan Hommen, CEO of ING Group, said: Scotiabanks straightforward business model combined with the innovative and successful ING Direct model make an ideal combination for a strong future and a solid base for both our customers and employees. Launched in April 1997, ING Direct Canada serves 1.8m customers and has over 1,100 employees. ING Direct Canada has approximately C$40bn in assets.
DBS Bank implements NICE Interaction Analytics Solution
Southeast Asias largest bank by assets, DBS Bank, has implemented analytics-based Quality Optimisation solution by technology vendor NICE Systems with the aim of enabling DBS to increase contact centre efficiency and improve customer satisfaction by reducing average call handle time and call volume. NICE analytics-based Quality Optimisation solution is specifically targeted at enhancing operational efficiency by providing comprehensive analyses of customer interactions and highlighting areas for improvement. The NICE analytics technology is targeted at enabling DBS to identify the type of calls that require longer handling time and once these calls are flagged, the solution can pinpoint the key phrases that are repeated across these calls.
Hypo Alpe-Adria moving ahead with Temenos T24 deployments
With the implementation of Temenos T24 core banking system complete across Hypo Alpe-Adrias Banks Banja Luka unit, Ernst Fanzott, HGAA management board and IT shared service centre program manager, and Dr Bernd-Michael Rumpf, global head of customer services group at Temenos, speak to Meghna Mukerjee about the transition. Austrian lender Hypo Alpe-Adria Banks (HGAA) unit in Banja Luka, Republic of Srpska, has completed the implementation of the Temenos T24 core banking system across 49 branches. This latest deployment of the T24 platform by HGAA is the third of its four-part rollout plan for the lenders markets in the former Yugoslavia region, starting with Montenegro in November 2009, followed by Mostar in Bosnia in May 2011.
Bank SinoPac deploys Temenos T24 platform
Taiwan-headquartered Bank SinoPac (SinoPac) has gone live with Temenos T24 core banking systems with the aim of centralising the operations of its domestic and global branch network. The T24 deployment went live simultaneously across Bank SinoPacs129 domestic branches in Taiwan that, reportedly, serves 3m customers and process up 2m transactions per day. Hong Kong, Macau, China, Vietnam and US sites will be added to the central hub in a second phase. The implementation of the new core system aims to enable SinoPac to increase flexibility and reduce maintenance and operating costs.
State Bank of India, Bank of India allowed to operate in Pakistan
India and Pakistan have agreed to allow two banks each from both the countries to set up branches across the border. The two Indian banks that will be allowed to operate in Pakistan are State Bank of India (SBI) and Bank of India (BoI). Quasi-state owned National Bank of Pakistan and privately-owned United Bank will be running full-banking operations across the border, once licensed by India.
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Mobile and mobility: where do they go from here?
Mobile banking is growing fast across the globe and banks are focusing on the channel increasingly, trying to differentiate its offering and provide value for customers. Retail Banker Interactive together with Finacle form Infosys hosted a webinar on the Future of Mobile Banking examining how the channel can be used to its maximum potential. Douglas Blakey, editor of Retail Banker International, Chandrashekar Rao Kuthyar (CS), senior product line manager, Infosys, and Jessica Niewierra, director of internet and mobile banking, ABN AMRO, Netherlands, discussed, in a Future of Mobile Banking webinar, the latest market trends and customer behaviour in mobile banking and examined in which direction the platform is going. The webinar was the tenth in a series of webinars presented by Retail Banker Interactive and Finacle from Infosys.
Scotiabank Mexico deploys Nexidia’s analytics solution
Canadas third largest lender by assets Scotiabanks Mexico unit has implemented advanced interaction analytics solution for financial services from Nexidia with the aim of improving customer service and contact centre efficiency. Scotiabank Mexico has also deployed managed analytic services from Nexidia, the provider of customer interaction analytics solutions for business transformation, that is designed to enable customers to get the maximum benefit from their interactions with the bank. Scotiabank Canada has already been deploying Nexidia customer interaction analytics since 2011.
MDB launches Vietnam’s first biometric debit card
Mekong Development Bank (MDB) has launched Vietnams first biometric, fingerprint-enabled debit card powered by banking software vendor Temenos, that can be used at NCR SelfServ ATMs across the country. Meghna Mukerjee talks to MDB, Temenos and NCR about the new product and plans ahead. Mekong Development Bank (MDB) and banking software vendor Temenos have launched Vietnams first biometric, fingerprint-enabled debit card. MDB has implemented Temenos T24 biometric fingerprint authentication a first in Vietnam with the primary aim of providing the unbanked population of Vietnam with access to banking services. The lender has already completed the implementation of Temenos T24 core banking systems.
Citigroup issues sole-branded credit card in China
Citigroup (Citi) has issued its first sole-branded credit card in China becoming the primary western bank to issue credit cards in China without co-branding from a local financial institution. Citi already offers co-branded credit cards with Shanghai Pudong Development Bank, but the lender will reportedly stop that program now that its own card has been launched. Citi received approval from Chinas banking regulator in February to issue credit cards on its own to local customers. Citi will work with state-owned China UnionPay. Citis chief executive for Asia-Pacific, Stephen Bird, said: We were the first international bank to enter the retail banking market in China in 2002. We are delighted to be once again breaking new ground in what is one of our most important markets globally.
BofA launches online and mobile cashback scheme nationwide
Bank of America (BofA) has launched BankAmeriDeals its online and mobile cashback deals scheme on a nationwide scale. The scheme has been rolling out in phases throughout the US and more than 130m cash back deals have reportedly been served to customers so far. BofA began an online trial of the BankAmeriDeals service in January starting with North and South Carolina aiming to allow customers to save on retail purchases based on previous spending patterns. The BankAmeriDeals scheme, run by Georgia-based transaction marketing vendor Cardlytics, allows customers to choose from deals offered by national as well as regional merchants across a variety of retail categories including discount department stores, fast food chains and restaurants.