All articles by Verdict Staff
Verdict Staff
Cyberattack: dangers, consequences and prevention
The heartbeat and Achilles heel of every organisation, information technology (IT) is crucial to the functioning of the business world. Given this situation, attacks on IT systems can have devastating consequences across industries among them, the banking and financial sector. In order to protect the best interests of their customers, and the vast tracts of personal data for which they are responsible, banks have already been paying attention to their data protection practices.
Banking the bankrupt: Prepaid providers will be crucial as banks withdraw services
Question: Where in financial services are you likely to hear the following: Unfortunately it has now come to the stage where our disproportionate market share has continued to grow significantly, and regretfully, we now need to take steps to address this.
Who will be in charge in a crisis?
The Commissions proposals for European banking union aim to minimise the risk to taxpayers from problems in the banking sector and break the link between individual countries and their own banking systems, particularly in the eurozone, writes David Strachan of Deloitte Centre for Regulatory Strategy
How Fraud Systems Should Interact With Your Customers
It is no surprise to hear card fraud continues to rise in every country around the globe, according to the survey published by ACI. With the never-ending fraudulent assault on your customers, how do you keep them happy? As the ACI report states, fraud isnt just about the financial loss to the bank, its more than that; it actually undermines the stickiness of your customers, and your brand reputation something far more difficult to repair than losing a few pounds, writes Michael Rhodes, senior fraud consultant at SAS UK & Ireland
Retail Banks and Targeted Persistent Attacks
Since the allegedly state-sponsored cyber-attack known as Aurora in early 2010, much has been made of the so called APT advanced, persistent threat. Since then an increasing number of APTs have made the technical and mainstream media including Stuxnet in 2011 and more recently Flame, writes, head of KPMGs I-4 Programme,
Mark Waghorne
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How to stop the seven-day itch
If supermarkets with their targeted offers and engaging stores are held up as the champions of delivering an exceptional customer experience, then it’s fair to say that banks are currently seen by many consumers as behind the curve, write B.R.Shashidhar and Avijit Saha
New mobile and internet bank – Knab – launches in the Netherlands
The Netherlands has a new bank Knab that is only available on the internet and over mobile platforms and aims to be customer centric and transparent. The Knab website and the mobile app are innovatively designed, according to the new lender, and is primarily aimed at putting customer experience at the core of its offerings with the claim that service takes priority over the banks products. Knab customers need to pay flat fees of EUR15 ($19.3) per month.
Free current accounts in the US: not the end yet
Even as a large number of the largest banks in the US have re-priced their current account product in the wake of regulatory changes, several lenders in the middle and lower end of the market are using free current accounts to beat their larger competitors, writes Charles Davis.
US branch numbers show further decline
The annual Summary of Deposits report from the Federal Deposit Insurance Corporation, a snapshot of US banking market metrics and one of the most eagerly awaited sets of US banking data, reveals that the number of bank branches in the US has fallen for the third year running. The report gives a comprehensive snapshot of the worlds largest banking industry as of 30 June for all FDIC-insured commercial banks, savings institutions and insured branches of foreign banks in the US. In the past 12 months, the number of branches in the US fell for only the third time in more than a decade to 97,336 branches nationwide, down from 98,201 outlets in June 2011.
RBC tops Forrester’s 2012 credit card issuers ranking
Royal Bank of Canada (RBC) has taken the top spot in the 2012 North American Credit Card Online Sales Rankings conducted by US-based Forrester Research. RBC topped the list of nine of the largest North American credit card providers, which comprised American Express, Bank of America, Bank of Montreal, Capital One, Chase, CIBC, Citibank, TD Canada Trust and RBC. The research firm reviewed user experience, content, functionality and online application and RBC topped the list with a score of 79.