All articles by Verdict Staff
Verdict Staff
Bancolombia Q1 earnings up 10%
Net profits at Colombias largest bank, Bancolombia, rose by 9.6% year-on-year to COP340.9bn ($168.5m) in the first quarter, beating analyst forecasts. Net fees and income from services totaled COP374bn, up 2% compared with the corresponding quarter last year, with credit and debit card annual fees the biggest contributor to total fees also up 2% year-on-year.
Barclays increases contactless limit
Barclays has upped the maximum limit for its contactless card transactions in the UK from £10 ($14.96) to £15 to make paying for smaller transactions easier for its customers. There are now more than 2m contactless-enabled Barclays Visa debit cards and 4m credit cards, since Barclaycard introduced the technology in 2007.
SunTrust’s rewards to “empower” customers
US-based regional lender SunTrust has launched a rewards programme to empower new and existing customers to bank online and take control of their finances Sun Trusts Solid Rewards Responsibility scheme, can earn new checking account clients up to $150 and current clients $100 for using its online banking service and paying bills online
News Digest
Santander has begun the rebranding of more than 1,000 Abbey and Bradford & Bingley branches and said it aims to complete the exercise by the end of January. The bank also said plans to rebadge around 300 Alliance & Leicester branches later this year remain on schedule.
Standard Bank offers anti-phishing software to customers
South Africas Standard Bank is offering its customers free anti-phishing software to protect against online fraud, the first bank in the country to offer such a service. While financial institutions like Standard Bank have spent a great deal of time on consumer education and internal mechanisms to secure our systems, customers still find themselves out of pocket when defrauded by unscrupulous fraudsters when responding to phishing e-mails, said Itumeleng Monale, the banks director of self service banking
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The text phase of service delivery
The increasing ubiquity of SMS text messages opens the door to a new era of proactive customer communication SoundBite Communications has capitalised on the mobile banking boom by recently launching a host of applications tailor-made for the financial services industry
News Digest
The popularity of mobile phones in India and the development of mobile commerce in the country is so profound that India could bypass traditional internet-based e-commerce altogether and focus just on m-commerce over the coming years, according to the Reserve Bank of India. The central bank said the number of mobile devices in the country surpassed 500 million in September and, despite a need for caution and strong regulation in making sure m-commerce is not mis-used and is safe, opportunities abound in a booming Indian economy.
News Digest
Mitsubishi UFJ (MUFG), Japans largest banking group, has posted second-quarter net profits of 65 billion ($754.4 million), up 59.3 percent from 40.8 billion in the year-ago-quarter
‘A culture of constant improvement’
Dan Jones talks to Tim Hockey, TD Canada Trusts president and CEOSpeaking on the back of third-quarter results which saw the bank post record earnings, record revenue, record market share growth, record customer satisfaction, record employee satisfaction and a record efficiency ratio, TD Canada Trust president and CEO Tim Hockey was understandably upbeat about his banks vision of 21st century retail banking
News Digest
The Irish government has approved plans to establish the National Asset Management Agency (NAMA), a 54 billion ($80 billion) bad bank to which five banks including the countrys biggest three banks, Allied Irish Banks (AIB), Bank of Ireland and Anglo Irish will transfer toxic loans with a book value of 77 billion from January