An official of the Swiss bank UBS announced that it was halting its offshore banking services for US citizens after it came under scathing criticism for facilitating massive tax evasion. The official, Mark Branson, UBS' chief financial officer of global wealth management, also said the bank is cooperating with the US government to identify US clients who might have ... [full story]
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UBS is to stop providing offshore banking services to American citizens as the latest development of its continuing involvement in the US government's $20bn (£10bn) tax-avoidance investigation into the bank's former operations. The Swiss bank, which has already closed down its US offshore banking business, went a step further and said that it would no long allow bankers from ... [full story]
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The Commonwealth Bank in Narromine has recently extended its existing branch to a new, full-service offering with all current staff continuing on and providing complete banking and financial solutions to local residents. Branch manager Bec Wren, who has worked for the Commonwealth Bank for the past 17 years and spent 10 of those in the central west, is excited ... [full story]
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Private banking on the European model -- which emphasises discretionary wealth management over generations and the "holistic" provision of any service a well-heeled client might require -- is available in Australia for high-net-worth investors, defined as those with investable assets (excluding the family home) of $US1million or more. But over the past decade, the term "private banking" has been appropriated ... [full story]
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US-based IBC Bank has activated a new mobile banking service called IBC Mobile which enables customers to conduct their business on their phones in either English or Spanish. After downloading the application to their phones, customers are able to see current balance information. They have also access to their transaction histories, they can pay bills electronically and transfer ... [full story]
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Central Pacific Bank on Monday introduced an online service that allows customers to electronically open accounts without setting foot inside the bank's 39 branches. The online service offers three accounts: Interest Checking, Personal Savings and Totally Free Checking. Customers open accounts by answering questions and verifying secure information that is unique only to him or her. Checking accounts ... [full story]
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The Ministry of Rural Development decided upon using telephone based banking services which would be easily accessible to the workers even in the remote areas of the country for checking irregularities in the payment of wages and to safeguard rights of workers The Ministry has accordingly requested the Department of Financial Services, Ministry of Finance, Government of India to facilitate ... [full story]
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Since innovating with a new, free Mobile Banking service in February, TAPCO Credit Union, www.tapcocu.org, reports that its convenient banking service is a hit. In fact, in April, the Pierce County credit union recently experienced the biggest monthly increase of new members in its 74-year history, thanks partly to its free innovative online services. TAPCO is mindful that today's ... [full story]
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With the Reserve Bank permitting transfer of funds across various mobile-phone service providers, atleast three leading public sector banks are readying to roll-out full-banking services via M-Banking in the coming few weeks. India's leading lender, State Bank, said it is in the final stages of its M-Banking roll-out and has scheduled its launch in late July while Bank of ... [full story]
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Banking services for long stayed as royal service. After the advent of the private banks things have gotten murkier. My recent experiences are quite disappointing. 1. I tried to open an account at the ICICI Bank. The bank requires a MAQB of 10000/- . If the balance falls below the limit a penalty will be there. So are they ... [full story]
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BANKING in Bangladesh has a heavy urban bias. The country's 30 commercial banks (PCBs) have 72.55 per cent of their branches in the urban areas and only 27.5 per cent in the rural areas. The foreign banks have no presence in rural areas. The state-owned banks have been progressively winding up their operations from rural areas. But Grameen Bank and ... [full story]
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Navigating through the online banking world is set to become easier with Ivobank, a new online banking service specialising in online payments and money transfer services, launching today. With more businesses and people choosing to bank online, make payments for goods and services, and transfer money on the internet (e.g. paying bills abroad), it makes sense to use a ... [full story]
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Financial Services and Money Laundering Ordinances dealing with these subjects have been under consideration for some time. Public consultations on the initial proposals were held in January and final drafts to be submitted to Legislative Council are now available. An outline of the provisions of each Bill is set out below. These should be taken as general guidelines, rather ... [full story]
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Suncorp and Commonwealth Bank lead the way in posting some very big increases in business banking customer satisfaction, according to the latest TNS business finance monitor. Suncorp’s rating rose 16.1 percentage points to 86.9 per cent in the year to May and CBA’s rose 12.3 percentage points to 72.6 per cent over the same period. The investment that ... [full story]
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Betting big on the Indian market, French financial services giant, Societe Generale, is gearing up to launch its Non-Banking Finance Company (NBFC) in the country soon, a top company official said. "Having obtained the FIPB approval, we are now in the process of getting other regulatory approvals," Societe Generale Private Banking's Managing Director, Balakrishnan Kunnambath told PTI here. ... [full story]
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HSBC customers can now make more of their Saturday mornings. In a bid to offer more convenience to customers, HSBC has enhanced its evening banking services with extended opening hours now available at its branches in Birkirkara, Hamrun and San Gwann. This brings the number of branches offering evening service to eight. Branches which continue to offer this service ... [full story]
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Bank of China<601988><3988>, the nation's second-largest lender, launches its updated online banking services, sources reported. The newly upgraded online banking services will offer clients more convenient service such as online account checking, transferring and remitting, credit card payment, online transaction of fund, gold, foreign exchange and stock etc. The bank provides free instant message services to clients so as ... [full story]
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Mobile banking is set for rapid growth over the next three years with the number of global mobile banking transactions predicted to ramp up from 2.7 billion in 2007 to 37 billion by 2011, according to analyst house Juniper Research. The analyst forecasts 41.5 billion mobile financial service (MFS) transactions will be made by the end of 2011, with ... [full story]
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Premier Banking, a global Barclays offering, is designed to give customers a unique blend of truly luxurious facilities and an unsurpassed service. In addition to the Premier Banking offering, the full-service Abu Dhabi branch - which was officially launched - will house a full range of retail and corporate banking services for customers in the capital city. H.H. ... [full story]
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Ranbaxy promoter group’s financial services company Religare Enterprises is looking at foraying into banking sector. The company is exploring both organic and inorganic route, when the sector opens up, for the venture. Incidentally, the company acquired a 4.2% stake in Karnataka Bank in the last quarter of 2006 and this is the only bank where Religare has invested so far. ... [full story]
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For consumers in developed markets, using a mobile phone for banking services is a smart add-on to a bank's branch network. But to people in the developing world, the arrival of mobile banking - or m-banking - is potentially revolutionary. If money is an economy's lifeblood, improving its circulation plays a critical role. Many Africans living in rural areas, ... [full story]
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Improved Customer Service as Financial Products Become Available Faster With the Pure Java, SOA-Enabled Universal Banking Solution Misys plc (FTSE: MSY.L), the global application software and services company, today announces that Standard Bank of South Africa is the first bank to implement Misys BankFusion Universal Banking, using it to run the broad range of financial services it offers its ... [full story]
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Assistant Manager, Sales Support at the Bank of Nova Scotia, informed SKNVibes that life for their customers would become much easier this month with the launching of the financial institution’s online banking services. “The site went operational this Monday, June 9, and we intend to have a full-blown launch on the 23rd of this month,” said Fleming. “In the ... [full story]
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Interest in money matters, rule regulated approach to work, numerical aptitude, problem solving skills, neat, accurate and orderly habits are at the core of banking jobs. The highest posts need people with a good academic profile, sharp and logical approach, excellent interpersonal skills, sound judgement and quick decision making ability. Introduction Banking as an industry is involved ... [full story]
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Forget old money. A new crop of wealthy individuals from the region and the Far East are boosting the growth of boutique finance houses in the UAE and in turn bolstering the global wealth management industry that now manages assets worth trillions of dollars. According to a recent study conducted by Euromoney magazine, private banking assets under management have ... [full story]
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NetSol Technologies Inc. ("NetSol") (NASDAQ: NTWK), a worldwide provider of global business services and enterprise application solutions, announced today that it has exclusively retained the investment banking firm Rodman & Renshaw, a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM). Rodman & Renshaw will provide NetSol financial advisory services and financial counsel on strategic initiatives on an on-going ... [full story]
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Mobile phone owners in the future will be allowed to transfer funds from their accounts to other mobile phone owners across networks and service providers. This is what the Reserve Bank of India’s (RBI) draft operating guidelines for mobile payments aim to achieve. As per the draft, even those with the most basic mobile phones may be able to ... [full story]
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The wait for rolling out mobile banking seems to be over, with the Reserve Bank of India's (RBI) issuing draft operative norms for such payment system. Now, RBI said, it will be easier and safer to use mobile phones for carrying out a gamut of banking transactions. Banks can offer mobile-based services only to their own customers. Banks should ... [full story]
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The Central Bank of Bahrain (CBB) yesterday launched a pioneering service to disseminate information related to fees charged by the Kingdom's retail banks for various consumer-related banking services. With this, CBB became the first central bank in the Middle East region to publish a regularly updated banking-service-charge schedule. The schedule of fees levied by individual banks as well as ... [full story]
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India’s biggest lender State Bank of India (SBI) is considering floating various equity funds and offering mobile telephone-based services shortly, SBI chairman OP Bhatt indicated on Wednesday. “The rapid expansion of economy has opened up large opportunities for funding through equity and your bank is at an advanced stage of preparedness for setting up various equity funds,” said Mr ... [full story]
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I’m checking into International Banking services online today. I think it’s past time to consider the options for getting out of the Dollar. In particular, I need to know more about International Bank Transfer services if I’m going to protect my wealth from the Fed’s thievery. The worst case is that the dollar recovers, and my other ... [full story]
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Introduction After the adoption of the New Economic Policy in 1991, the Indian economy is becoming more and more mature with the passage of time on account of structural changes undertaken in different sectors and areas. The GDP growth rate has been much higher than the neo-Hindu rate growth and it has averaged over eight per cent during the ... [full story]
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