All articles by Douglas Blakey
Douglas Blakey
TD Banknorth gets Flexible
Amid growing fears of a US recession and with credit card delinquencies rising inexorably, TD Banknorth (TD), the US retail banking arm of Canadas Toronto-Dominion Bank, has introduced Simply Flexible, a range of credit cards designed to appeal to low-risk customers.TD has also kicked off an integrated marketing campaign designed to educate cardholders about the control they can exercise over their credit.In an interview with RBI, James Gaffney, executive vice president of card services at TD Banknorth, said: Simply Flexible is not the first interest rate-based reward card in North America, but it is a unique product in todays market.TDs new cards will go head-to-head with an offering from Discover, the fourth-largest US credit card issuer
Dynamic, Islamic and contemporary
Dubai Islamic Bank, the third-largest Gulf Arab Islamic lender by market value, has unveiled a new brand identity for its Johara Ladies Banking service and announced the launch of two new products targeted at women Dubai Islamic Bank (DIB), established in 1975 as the worlds first Islamic bank, has rolled out a new brand identity for Johara, its exclusive banking service tailored to women
Location, location, location
You could say that Comerica for decades the banking face of Detroit is simply following its customer base: last year, the banking titan moved its headquarters from Detroit to Dallas Comerica, the 20th-largest US banking group with assets of $60 billion, foresees significant growth over the next three years but not in the state of Michigan.
Red, white and blue? Bank of America goes green
The USs largest retail bank, Bank of America (BofA), says it will significantly expand its ethical banking product portfolio in 2008, including a range of green deposit accounts The bank made the announcement at the launch of its first full-blown ethical credit card, a product being marketed as a way for US consumers to reduce their contribution to climate change and invest in the development of clean, renewable energy projects. The bank has employed US-based consultancy Brighter Planet to develop the credit card as well as its ethical retail banking product portfolio
UK ethical banking market rema
UK ethical banking market remains primed The consumer market for ethical financial products in the UK is gradually becoming more of a mainstream proposition, according to consumer research from Ashridge Business School commissioned by the Co-operative Bank The survey comes at a time of heightened interest in the ethical banking market in the UK: Barclays rolled out its fourth ethical credit card last month and the Co-op Bank itself recently launched a major marketing campaign called Live Life Better, as well as a new credit card called Think (see RBI 582). According to the report, Beyond the Niche: Bringing Ethical Financial Products to Your High Street, while banking products that offer some ethical characteristic represent less than 2 percent of overall UK sales, their market share has grown by 22 percent over the past six years.
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TD tops Canadian league in 200
Despite combined write-downs in excess of C$2 billion relating to US subprime mortgage investments, Canadas Big Six banks have reported record net income in excess of C$20 billion for the year Shockwaves from the credit crunch originating over the border in the US are reflected in the full-year results of Canadas Big Six banks, with annual earnings varying according to exposure to US subprime and collateralised debt.The biggest gainer was the third-largest bank, Toronto-Dominion (TD), which in 2007 focused on Canadian and US retail banking and wealth management markets
WestLB adapts to shifting German market
Germanys banking industry is showing signs of possible consolidation: WestLB has started merger talks with Landesbank Hessen-Thueringen, and Landesbank Baden-Wrttemberg, Germanys biggest publicly owned bank, has confirmed it will proceed with its takeover of SachsenLB WestLB, the troubled German state-owned bank hammered by a trading scandal and heavy US subprime losses, has published a ten-point strategic plan for its future, jointly issued by its shareholders, which puts a merger deal with publicly owned peer Landesbank Hessen-Thueringen (known as Helaba) high on the list
The year gone by, the year ahead
While 2007 was difficult year for many banking groups due to the subprime collapse, 2008 looks set to be even more painful, with possible major consolidation in the US market on the cards
Making a difference
Denmarks second-largest independent bank, Jyske Bank, has sought to distinguish itself in its domestic retail banking market most notably against rival Danske Bank with a highly creative, design-led distribution strategy.In particular, its 119-branch network has been turned into spaces more akin to shops and other retailing outlets, a place the bank says will draw customers in
The personal touch
A new report from VRL KnowledgeBank examines the latest trends and marketing techniques being used to promote credit, debit and prepaid cards programmes around the world The following extract considers how card issuers can improve their marketing efforts, from traditional mass media to new media channels. As global financial services ad spending continues to increase, card marketers are employing a multichannel approach to engage with customers and prospects