Tag Archives: Retail

Banking

Top 10 Companies In The Uk Retail Banking Industry: It Spending Predictor 2010

This databook provides estimates of IT spending for the top 10 companies in the UK Retail banking industry. The databook is a comprehensive source of IT spending by company, including assessment by technology and channel. The databook also provides information on the IT contracts of these companies where available.

Scope of the report

* Our view of the top 10 companies in the UK Retail banking sector in terms of IT spending
* A breakdown of the estimated IT budget by technology for each of the top 10 companies
* A breakdown of the estimated IT budget by channel for each of the top 10 companies
* Details of IT services contracts by company where available

Highlights

The top 10 companies in the UK retail banking industry in terms of estimated IT spending spent the largest portion of their IT budgets on services, a segment that accounted for about 30% of the IT budgets among these firms. This was followed by spending on hardware and software.

Among the top 10 companies, a major portion of IT spending is allocated to internal IT. Internal IT alone accounted for approximately 28% of the total estimated IT spending by these companies. HSBC Holdings plc remained the leading company in terms of IT spending, followed by HBOS plc and Royal Bank of Scotland Group PLC.

Reasons to Purchase

* Gain insight into IT budget breakdown of top10 companies in UK retail banking industry and identify notable areas of allocation
* Identify organizations with top IT expenditures in your target markets
* Leverage IT spending pattern information to tailor account targeting based on company demographics

Table of Contents :
TABLE OF CONTENTS
Catalyst 1
Summary 1
LIST OF FIGURES 5
LIST OF TABLES 7
INTRODUCTION 11
Reasons to purchase 11
Definitions 11
UK RETAIL BANKING INDUSTRY: ESTIMATED SPENDING ON IT 14
Overview 14
Estimated spending by technology segment 16
Estimated IT spending by channel 18
HSBC HOLDINGS PLC 20
Budget overview 20
HSBC Holdings plc, estimated spending on IT 21
HSBC Holdings plc, estimated IT spending by channel 25
HSBC Holdings plc, IT contracts 27
HBOS PLC 33
Budget overview 33
HBOS plc, estimated spending on IT 34
HBOS plc, estimated IT spending by channel 38
HBOS plc, IT contracts 40
ROYAL BANK OF SCOTLAND GROUP PLC 47
Budget overview 47
Royal Bank of Scotland Group PLC, estimated spending on IT 48
Royal Bank of Scotland Group PLC, estimated IT spending by channel 52
BARCLAYS PLC 54
Budget overview 54
Barclays PLC, estimated spending on IT 55
Barclays PLC, estimated IT spending by channel 59
Barclays PLC, IT contracts 61
BARCLAYS BANK PLC 69
Budget overview 69
Barclays Bank PLC, estimated spending on IT 70
Barclays Bank PLC, estimated IT spending by channel 74
GE MONEY 76
Budget overview 76
GE Money, estimated spending on IT 77
GE Money, estimated IT spending by channel 81
GE Money, IT contracts 83
THE ROYAL BANK OF SCOTLAND PLC 88
Budget overview 88
The Royal Bank of Scotland plc, estimated spending on IT 89
The Royal Bank of Scotland plc, estimated IT spending by channel 93
HSBC BANK PLC 95
Budget overview 95
HSBC Bank plc, estimated spending on IT 96
HSBC Bank plc, estimated IT spending by channel 100
RETAIL DIRECT 102
Budget overview 102
Retail Direct, estimated spending on IT 103
Retail Direct, estimated IT spending by channel 107
LLOYDS TSB BANK PLC 109
Budget overview 109
Lloyds TSB Bank plc, estimated spending on IT 110
Lloyds TSB Bank plc, estimated IT spending by channel 114
APPENDIX 116
Methodology 116
Further reading 117
Disclaimer 119

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Banking

Retail Banking Competitor Tracker – July 2010 – Market Research Report On Aarkstore Enterprise

Introduction

Datamonitors Retail Banking Competitor Tracker is a monthly product providing updates on key events relating to major players in retail banking across the globe. Covering major developments such as M&A activity, market entries and withdrawals, partnerships, product innovation, and customer targeting, the Retail Banking Competitor Tracker provides succinct summaries of key stories.

Scope

*Information on new product developments, mergers and acquisitions, distribution and partnerships

*Insight on how the major retail banks are adapting to the ever changing economic climate

Highlights

Several banks announce launch of mobile phone banking platforms.

RBS sells Indian retail arm to HSBC.

Bank of China continues to develop partnerships with Western banks.

Reasons to Purchase

*Provides a definitive source of information on all your competitors key strategies

*Offers insight into how the competitive landscape is evolving through M&A activities, partnerships and organic growth

*Detailed insight into new product developments within retail banking

Table of Contents :

Overview 1
Catalyst 1
Summary 1
Methodology 1
TABLE OF CONTENTS 2
Introduction 3
This tracker provides both one-month and 12-month views of developments 3
Each month Datamonitor tracks the most relevant announcements from 100 competitors 3
Datamonitors Retail Banking Team provides analysis of the key developments at both the one-month and 12-month level 4
A fully searchable database of the past two years of developments is also delivered alongside the report 4
Products, Services and Innovation 5
Barclays 5
UK: Barclays provides students with overdraft facility 5
BBVA 5
Spain: BBVA offers smart phone application to Xacobeo 2010 pilgrims 5
Citibank 5
Mexico: Banamex opens online shopping center 5
Malaysia: Citibank launches mobile banking platform in Malaysia 6
Taiwan: Citibank Taiwan launches mobile banking platform 6
The Cooperative Financial Services 7
UK: Cooperative Bank halves mortgage fees 7
First Direct 7
UK: First Direct introduces one fee for all of its products 7
First National Bank 7
South Africa: FNB introduces Pay Wallet 7
South Africa: FNB provides its customers with free online security 8
Oversea-Chinese Banking Corporation 8
Singapore: OCBC to offer banking services on iPad 8
State Bank of India 9
India: SBI prepares for paperless banking 9
India: SBI to continue with home and car loan scheme 9
Yorkshire Building Society 9
UK: Yorkshire provides mortgages of up to 90% LTV 9
M&A, Partnerships and Organic Growth 10
ABN Amro 10
The Netherlands: ABN Amro restructures business after merger 10
Bank of China 10
China: Bank of China enters into strategic alliance with Asian Development Bank 10
Bank of Ireland 10
Ireland: Bank of Ireland receives restructuring approval from the European Commission 10
BNP Paribas 10
France: BNP Paribas enters into alliance with BPCE Group 10
Commerzbank 11
Germany: Commerzbank finalizes the sale of Dresdner Bauspar and Kleinwort Benson 11
Industrial and Commercial Bank of China 11
Canada: Bank of East Asia changes its name to ICBC 11
Piraeus Bank 11
Greece: Piraeus plans to acquire stake in Agricultural Bank of Greece 11
Royal Bank of Scotland 12
India: RBS to sell its Indian retail arm to HSBC 12
State Bank of India 12
India: SBI and State Bank of Indore merger approved by cabinet 12
Appendix 13
Methodology 13
Further reading 13
Ask the analyst 13
Datamonitor consulting 13
Disclaimer 13

List of Tables
Table 1: The 100 companies and subsidiaries covered by Datamonitors Retail Banking Competitor Tracker 3

For more information please visit :

http://www.aarkstore.com/reports/Retail-Banking-Competitor-Tracker-July-2010-62620.html

Aarkstore Enterprise specialize in providing online market business information on market research reports, books, magazines, conference booking at competitive prices, and strive to provide excellent and innovative service to our customers.

Banking

Top 10 Companies in the US Retail Banking Industry: IT Spending Predictor 2010

This databook provides estimates of IT spending for the top 10 companies in the US Retail banking industry. The databook is a comprehensive source of IT spending by company, including assessment by technology and channel. The databook also provides information on the IT contracts of these companies where available.

Scope

*The top 10 companies in the US retail banking sector in terms of IT spending

*A breakdown of the estimated IT budget by technology for each of the top 10 companies

*A breakdown of the estimated IT budget by channel for each of the top 10 companies

*Details of IT services contracts by company where available

Highlights

The top 10 companies in the US retail banking industry in terms of estimated IT spending spent the largest portion of their IT budgets on services, a segment that accounted for about 30% of the IT budgets among these firms. This was followed by spending on hardware and software.

Among the top 10 companies, a major portion of IT spending is allocated to internal IT. Internal IT alone accounted for approximately 28% of the total estimated IT spending by these companies. Bank of America Corporation remained the leading companies in terms of IT spending, followed by JP Morgan Chase & Co and JPMorgan Chase Bank, N.A.

Reasons to Purchase

*Gain insight into IT budget breakdown of top10 companies in US retail banking industry and identify notable areas of allocation

*Identify organizations with top IT expenditures in your target markets

*Leverage IT spending pattern information to tailor account targeting based on company demographics

Table of Contents :
OVERVIEW 1
Catalyst 1
Summary 1
INTRODUCTION 9
Reasons to purchase 9
Definitions 9
US RETAIL BANKING INDUSTRY: ESTIMATED SPENDING ON IT 12
Overview 12
Estimated spending by technology segment 14
Estimated IT spending by channel 16
BANK OF AMERICA CORPORATION 18
Budget overview 18
Bank of America Corporation, estimated spending on IT 19
Bank of America Corporation, estimated IT spending by channel 23
JP MORGAN CHASE & CO 25
Budget overview 25
JP Morgan Chase & Co, estimated spending on IT 26
JP Morgan Chase & Co, estimated IT spending by channel 30
JPMORGAN CHASE BANK, N.A. 32
Budget overview 32
JPMorgan Chase Bank, N.A., estimated spending on IT 33
JPMorgan Chase Bank, N.A., estimated IT spending by channel 37
CITIGROUP INC. 39
Budget overview 39
Citigroup Inc., estimated spending on IT 40
Citigroup Inc., estimated IT spending by channel 44
Citigroup Inc., IT Contracts 46
BANK OF AMERICA, N.A. 48
Budget overview 48
Bank of America, N.A., estimated spending on IT 49
Bank of America, N.A., estimated IT spending by channel 53
WELLS FARGO & COMPANY 55
Budget overview 55
Wells Fargo & Company, estimated spending on IT 56
Wells Fargo & Company, estimated IT spending by channel 60
WELLS FARGO BANK, N.A 62
Budget overview 62
Wells Fargo Bank, N.A, estimated spending on IT 63
Wells Fargo Bank, N.A, estimated IT spending by channel 67
STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY 69
Budget overview 69
State Farm Mutual Automobile Insurance Company, estimated spending on IT 70
State Farm Mutual Automobile Insurance Company, estimated IT spending by channel 74
WACHOVIA CORPORATION 76
Budget overview 76
Wachovia Corporation, estimated spending on IT 77
Wachovia Corporation, estimated IT spending by channel 81
Wachovia Corporation, IT Contracts 83
ALLSTATE CORPORATION 87
Budget overview 87
Allstate Corporation, estimated spending on IT 88
Allstate Corporation, estimated IT spending by channel 92
APPENDIX 94
Methodology 94
Further reading 95
Disclaimer 96

For more information please visit :

http://www.aarkstore.com/reports/Top-10-Companies-in-the-US-Retail-Banking-Industry-IT-Spending-Predictor-2010-61637.html

Aarkstore Enterprise specialize in providing online market business information on market research reports, books, magazines, conference booking at competitive prices, and strive to provide excellent and innovative service to our customers.

Banking

Separation of Retail and Investment Banking Causes Separation in Coalition

The interim report by the Independent Commission on Banking (ICB), which was released in April, recommended a separation of retail and investment banking; this meant that if there was ever an economic crisis caused by the losses incurred by investment bankers, the accounts of millions of ordinary customers would be protected. The ICB was set up to ensure that the state never again bails out a failing bank. The full report is due to be published on September 12th.

Ideological divisions

To begin with the Liberal Democrats called for a complete separation of retail and investment banking; this would mean the break-up of the big British banks. Chancellor George Osborn, supported by the Prime minister, prefers the subsidised model known as ring-fencing; this would mean regulations protecting the retail side from investment losses but would not lead to the break-up of the banks. This obviously is the banks’ preferred option.

Although the Lib Dems have acquiesced and are now supporting the ring-fencing proposal, they want it to be put in place immediately, writing it into the Financial Services Bill which is presently before Parliament. Mr Osborne and Mr Cameron are recommending that the regulations ease through incrementally over the next few years, something the banks have been lobbying for. Their view is that with what’s been happening in the Eurozone, bank regulation could cause economic growth to falter. Angela Knight, chief executive of The British Bankers’ Association called this week for changes in the industry to be delayed until the economic recovery is underway; imposing the measures on lenders risked denting confidence and cutting the supply of credit to the economy.

Don’t panic

At a time when taxpayers are giving around £10 billion per year to the banks, Business Secretary Vince Cable, in an interview with The Times, accused the banks of using the economic crisis in Europe as a bargaining chip to force a delay of any kind of reform of the financial sector, and in particular investment banking; the Business Secretary said, “It is disingenuous in the extreme to use the current context to argue against reform. Banks are in a way trying to create a panic around something which they know has got to happen. We can’t have big global banks with balance sheets bigger than British GDP underwritten by the taxpayer; this can’t go on and it has got to be dealt with.”

The fear for British banks is that too much regulation will stifle economic growth and restrictions on earnings will drive top investment bankers out of Europe to pastures new in the US or Asian banks, with Wall Street on a recruitment drive for the first time since 2008. Yet there is no fear of likely candidates being put off a career in investment banking as finance is still attractive for those wanting to earn big rewards.

 

Zero-One Design ltd

Banking

Retail banking on mobile device

This application brings various features like online secure banking, payment of utility bills, monitoring portfolios, mini bank statements, fund transfer within same bank account or other bank accounts to the hand held communication devices. Thus, m-commerce is a very necessary update that bridges the business transactions and the busy life. With this feature enabled on the cell-phones, the users can avoid the overdue payments and therefore, plan up an organized financial discipline for themselves.

Business Challenge:

Internet and mobile: These are two technological advancements that have profoundly affected human behavior in the last decade. This has lead to various mobile data services being offered but the challenge had been to ensure the security of data being communicated over the network and that residing on the mobile phone.

Mobile (m-) banking (one of the first areas of commercial transaction on the wireless internet) has had similar concerns and the growth has therefore been limited.

The solution required the user to carry out entire set of retail banking activities which till now were only possible over the wired network.

Benefits:

The solution provides online secure banking to the user for managing their accounts using their mobiles thereby giving an enhanced user experience every-time he logs in. It also provides the user to conveniently pay their bills and manage portfolios using their mobile devices.

The extension of the internet banking is the m-banking where the customer requirement is reduced from having a fully fledged PC to a bare mobile phone. The banking transactions now are not only on the finger tips but also within one’s pocket or purse. It also enables the transactions without any time limitations on geographical issues.

The most common technologies are

1. Interactive Voice Response

2.Short Message Service

3.Wireless Access Protocol

4. Standalone Mobile Application Clients.

The biggest decision that banks need to make is the channel that they will support their services on. The m- banking scenario is not universal and its structures and purposes vary from country to country. The various financial functions that can be operated using the mobile phones are micropayments to merchants, bill-payments to utilities, P2P transfers between individuals, and long-distance remittances.

The m banking method is generally less expensive than any of the alternatives being available. It is also said by Mercatus, the world’s premier university source for market-oriented ideas that, banks that offer mobile financial services can increase their new customers’ acquisitions by as much as sixty percent. The mobile adoption is increasing the past techniques of online banking, ATMs and debit cards.

About Endeavour Software Technologies

Endeavour provides strategic consulting and technology services with an aim to deliver end to end mobile solutions across different mobile platforms.  Specializing in iphone application development, it can enable businesses in the manufacturing, media, print, healthcare, consumer solutions, Telecom and Business Intelligence verticals.

Banking

Retail Banking Services

On general terms retail banking refers to typical mass-market banking in which individual customers use local branches of larger commercial banks. Retail banking aims to be the sole destinations where an individual finds as many as financial services possible catered to meet his needs.

As of late Retail Banks has also gone ahead and stepped into wealth management services, brokerage accounts, private banking and retirement planning. One of the most prominent features of modern day is retail banking is the facilities that it has provided to its consumers. Right from ATM’s to credit cards to debit cards to phone banking and online banking retail banking has provided it’s consumers with the most convenient banking facilities.

While some of these services are outsourced to ensure financial regulations, they often intertwine with core retail banking accounts like checking and savings to allow for easier transfers and maintenance. The core idea is that a consumer can avail banking services without paying any branch a visit for the same. In most cases it provides single window service which means that customers can visit one counter for any banking need.

One the most critical factors that determines the success of Retail Banking is flexibility in its branch organization. Regional differences could be taken into consideration, but they must co-ordinate with each other to ensure that every need of the consumer is met. The most prominent product sought after in Retail Banking is personal loans.

These loans are launched by financial houses under different yet attractive brand names to attract customers. The tenure granted for repayments usually lasts from 5-7 years with housing loans being provided for a longer duration: i.e of 15 years.

In recent past retail lending has been a key profit maker for numerous banks. The new age private banking sectors have highly benefited through this aspect of retail lending, but in the longer run it has been the public sector banks who have profited the most, thanks to their vast branch network and out reach.

The last decade has witnessed the emergence of Retail Banking in the global front. Establishing good customer relationship strengthens your financial base as with every major deal that you incorporate via your customers adds to your treasury.

As of now the Retail section is undergoing a strain courtesy the recession. The failure to repay debts has seen the fall of global financial houses. So it is very important that a thorough examination is done to ensure know your customer (KYC) norms prior to issuing major loans. Customers on their behalf need to be very cautious and pay close attention to all aspects of their account. Reviewing your bank statements on a regular basis and ensuring that you aren’t paying extra charges is a good way to keep your accounts safe and secure.

Banking Consultant with a major financial household. To read about Online Money Transfer click here.