All articles by Douglas Blakey
Douglas Blakey
Jyske to shutter branches, cut costs
Jyske Bank, Denmarks second-largest independent bank, is to reduce its branch network and slash jobs as part of its plans to reduce costs by DKK400m ($73.5m). Jyske is to reduce headcount by 250, around 6% of its total workforce, and close 6 branches, reducing its branch network to 108 outlets
Axis gets personal with ‘MyDesign Card’
Indias third-largest private sector lender, Axis Bank, has launched MyDesign Card,a card personalisation tool for its customers, allowing them to customise the design of their debit cards Jairam Sridharan, head of consumer lending & payments at Axis, said: By empowering our customers to design their debit cards, MyDesign aims to promote closer customer engagement with the bank. The MyDesign function enables cardholders to put a photo of a friend or family member, a picture of a pet, an image of a special hobby or a snap of the customer themselves onto their cards
No UK fire sale: NAB’s Joiner
National Australia Bank (NAB) is in no hurry to exit the UK, according to an interview given by Mark Joiner, NAB’s executive director, to Reuters NAB has been linked with a possible sale of its UK subsidiaries, Clydesdale and Yorkshire which combined, amount to $4.5bn of assets and a branch network of 330 outlets.
Tesco Bank strategy unchanged
Tesco Bank has poured cold water on press reports that it has been forced to delay the launch of its first mortgage products. A Tesco Bank spokesman stressed to RBI that its discussions with the regulator were ongoing and constructive.
TandemMoney to target unbanked sector, launches October
Start-up TandemMoney is slated to launch in the US in October to target the underbanked and unbanked segments.
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Wells Fargo tops US mobile banking survey: Keynote
Wells Fargo has ranked first in a survey of seven of the largest US retail banks, conducted by California-based consultancy Keynote Systems. Keynote measured and ranked the banks on almost 100 criteria in four main categories covering their text, mobile web and smartphone app offerings. Keynotes measured and ranked the banks on almost 100 criteria including functionality, ease of use, privacy and security, quality and availability across text, mobile web and smartphone applications
Capital One launches online gaming promotions across three Zynga platforms
Capital One – set to become the seventh largest US bank by assets once it assumes the US unit of ING Direct and the US cards division of HSBC – has agreed a deal with online social games developer, Zynga, designed to boost its social media activity.
Banks set to increase IT spend to improve risk management
Banks are increasing their investment in new technology and have made considerable changes to their IT infrastructures – particularly with regards to data warehousing – according to an Oracle-sponsored report, Management Information Systems, 2011 Around 43% of banks surveyed for the report are planning to make significant changes to their IT systems in the next four years to improve management information, regulatory compliance and risk management
ABSA posts 65% rise in mobile banking; customer signs-up top 3m
Barclays South Africa-based subsidiary, ABSA, has reported a massive 65% increase year-on-year in financial transactions conducted via its mobile channel
7 more S Korean savings banks suspended
The South Korean Financial Services Commission (FSC) has suspended another seven savings banks, bringing the total to 16 institutions to be suspended this year. The latest seven savings banks caught in the net Jeil, Jeil II, Prime, Daeyeong, Ace, Parangsae, and Tomato failed to meet the regulators capital adequacy test. Jeil II was suspended because its capital adequacy ratio is below 1% and there is a strong likelihood that the suspension of its parent company, Jeil, will lead to depositors bank runs.