By Aniruddha Paul
India is at the forefront of mobile banking.
According to a worldwide research report released in mid 2012, 76 percent of Indian mobile respondents used their mobiles for banking in the past six months, making India the most popular country for mobile banking. Over the same period of time, only 38 percent respondents from US, and 31 percent from UK used mobile banking while the global average for mobile banking adoption rate stands at 35 percent. 1
ING Vysya Bank is a premier banking service provider in India. Our mobile banking solutions have been used by customers since 2011, and in July this year, we launched our second generation mobile apps. With just over 530 branches spreading across more than 350 cities in India, mobile banking is a significant part of our growth strategy as we strive to offer our customers a differentiated user experience in line with our multichannel strategy. Continue Reading »
By Likhit Wagle
Do you ever wonder why your bank mails you various pieces of literature all at the same time – a new credit card, new home loan, a new line of credit for a new business venture? Clearly, this approach to mass-marketing reveals that your bank lacks a true understanding of your needs and your individual portfolio.
The good news is that these unsolicited, random offers may soon become a thing of the past. While many banks have talked about the importance of customer centricity over the past two decades, more today are ‘walking the walk’ and making significant investments to transform the customer experience.
For example, Banorte-Ixe, one of the largest retail banks in Mexico, is working to establish a new business model built on business analytics to improve its service to more than 20 million users. Similarly, Jordan Ahli Bank, a leading Jordanian financial institution, is transforming its core banking system to set new standards in customer service, as well as gear up for future growth. ANZ Banking Group is rolling out a digital assistant that regional bank managers will use to sift through every bit of information they have about a client, their own services, and updated market trends to make smarter, faster and more personalized recommendations for their two million wealth management clients. Continue Reading »
By Joyce Phillips
It used to be that next generation technology to make humans smarter, faster and at the top of their game was the stuff of cinema and science fiction.
Here at ANZ, we are exploring a groundbreaking solution that holds this very same promise – a cognitive assistant, if you will, that can empower our regional bank advisors to better serve our two million wealth management clients.
To understand why and what we’re doing to foster this innovation, it’s important to start with the perspective of the customer.
Imagine yourself entering a regional bank branch. You’ve arranged an appointment with the branch’s financial advisor, to discuss the life you want for you and your loved ones upon your retirement, and the solutions you need to achieve it. Continue Reading »
By Ademola Adewale
The next phase of banking sector reforms and consolidations in Africa’s most populous nation will be driven, not by the industry regulator or by industry or market forces but, by technology, technology and technology.
Computing technology has become a key business driver for Keystone Bank as we embark on a comprehensive overhaul of our systems, processes and human resource assets and capabilities.
Like financial services institutions all over the world, Nigerian banks are increasingly realizing the transformative powers that technology can inject into their products/service delivery offerings and by extension, their reputations and expanding balance sheets. Continue Reading »
By Miles Nosler
Over the last few years, whenever I saw an IBM Smarter Planet commercial on television I wondered what was behind things like Smarter Transportation? Smarter Cities? Smarter Commerce?
Since then I’ve come to understand what the Smarter Planet concept is about – tackling Big issues with smarter, interconnected technologies to improve the way we live and work. But, it didn’t truly sink in until I started crunching some Big Data with an IBM mainframe. Let me explain.
If someone told me I would take the top spot among 4,600 very smart students competing in IBM’s Master the Mainframe contest, I wouldn’t have believed it. But that’s exactly what I did, and now I have in-demand technical skills on my resume that are landing me job interviews. Continue Reading »
By Alejandro Valenzuela
Not many companies can say they’ve been in business for more than a century. As the CEO for Grupo Financiero Banorte, better known as Banorte – Ixe, one of Mexico’s largest banks, I’m proud to say we’ve been serving our customers since 1899. You can imagine how many changes Banorte–Ixe has gone through the course of 114 years—where the exchange of monies once came in the form or bartering and loans were handwritten on paper, banking is now marked by national currencies and automatic tracking through intricate technology systems. Today’s banking industry looks and operates in a very different way to how we began.
Every transformation we’ve underwent as a company has been in response to the changing needs of our customers. We started as a very small local bank in Monterrey, and here we are, 2013, as the third financial institution in México. We find our business undergoing yet another shift, but again, with the same focus in mind: our customers. Continue Reading »
By Howard Bruck
Not since the availability of the ATM has the banking industry experienced such momentous change.
We are obliged to create products and services valuable to our customers doing their banking business on the internet and on mobile devices, all while maintaining responsibility for the highest levels of compliance and information security in environments we don’t always control.
This new world of the empowered customer has created a continual “when you want it, it will be there” customer mentality as the new reality of how they expect to interact with their financial institutions.
Continue Reading »
By Suresh K L
Like many other countries in Africa, Ghana’s banking sector is in the midst of its most transformative phase.
The sector has expanded substantially over the last ten years, characterized by branch expansion and increased capitalization as financial institutions move to meet growing demand for consumer banking services across the country.
This is due to the continued economic growth, foreign investment, increasing diversification and a number of large investments in both the private and public sectors in Ghana and across Africa.
New technologies are helping to drive a wave of innovation across the African financial services sector as banks create new and accessible banking channels and take banking services to previously unbanked parts of society.
By Tony Mwai
Ten years ago, if workers in Kenya wanted to send money to relatives across the country, they had two options – either pay a courier to take their wages back to their village or travel themselves, often spending a hefty portion of the wages on bus fare and then losing a day’s pay.
Today, in a just under a second, over 14 million Kenyans can send and receive money to each other in whichever part of the country they are, all thanks to mobile money transfer solutions.
Over the last five years, more than $16 billion has moved between phones in this country, indicating the untapped demand for access to reliable and affordable financial services in the palm of Kenyans. Continue Reading »