| Maybank Eyes 30 Pct Trade Finance Market Share
KUALA LUMPUR, No v 21 (Bernama) -- Malayan Banking Bhd (Maybank) expects to grow its trade finance market share to 30 percent in the current financial year ending June 2008 with the launch of its online trade finance services, Maybank2e.net. "Currently, Maybank has about 28 percent of the overall trade finance market share," said its senior executive vice president/head of business banking, Rozidin Masari. Rozidin said this after signing an agreement with HCL (M) Sdn Bhd here Wednesday. HCL, as systems integrator, will implement the online front-end trade finance solution for Maybank. He said trade finance business contributed about 17 percent of Maybank's overall income in 2006 and was expected to grow to 20 percent in the first year of Maybank2e.net roll-out. "Maybank2e.net, which is scheduled to roll out in April 2008, also caters to both conventional and Islamic trade finance needs of its customers in Malaysia and internationally," he said.
TFN NEWS BRIEFING: Banking and insurance highlights to 09:15 GMT
2007-11-21 09:12:28 Japan's Mitsubishi UFJ H1 net profit falls 49 pct TOKYO (Thomson Financial) - Mitsubishi UFJ Financial Group Inc, Japan's largest banking group, said Wednesday its first-half net profit fell 49 percent, reflecting writedowns for its struggling credit card business and losses related to its subprime loan exposure. 2007-11-21 08:54:22 EU mortgage reform white paper to propose making early repayment easier - report FRANKFURT (Thomson Financial) - The European Commission's long-awaited white paper on the mortgage industry will make it easier for customers to pay off their mortgages early, a report in German daily Boersen-Zeitung says. 2007-11-21 08:49:35 Swiss Re CEO sees no 'fundamental changes' at Financial Services ops ZURICH (Thomson Financial) - Swiss Re chief executive Jacques Aigrain said he sees no "fundamental reason" for a change in the reinsurer's strategy regarding its Financial Services segment but pledged to more closely monitor risks.
Uganda: Speed Up Credit Reference Bureau
ONLINE trading, an important aspect of business has continued to suffer as banks remain reluctant to issue credit cards. Of the 14 bank operating in the country only Barclays Bank offers credit cards and the service is limited to its prestige-banking customers who are those with a monthly income of more than one million. .
Banks set to invest in self-service banking
South African banks are embracing self-service as a strategic imperative, and can be expected to invest heavily in solutions that allow their customers to access a full range of banking services wherever they are and at any time. The recent Self-Service Strategies in South Africa 2007 survey, conducted by World Wide Worx on behalf of Consology, shows that banks attach the most strategic importance to self-service out of a respondent base that also included insurers, retailers and telecommunications firms.Says John Ziniades, CEO of self-service specialist firm Consology: "The South African banking sector has years of experience with self-service, dating back to the introduction of the country's first ATMs. The next evolution of self-service in the banking world was online banking, a wildly popular service that has changed the way banks and customers interact."We can expect to see banks build on these channels in the years to come, in the hopes of keeping customers away from more costly channels like physical branches and agent-staffed call centres."The branch network is a major overhead for banks, in contrast to insurers that largely operate through brokers, retailers that generate sales from store traffic, and mobile operators that work through a network of franchised stores, notes Ziniades.
IT migration disrupts services for Abbey
UK bank Abbey has acknowledged that service to customers has been disrupted as it grapples with migrating to a "state of the art" core banking system. Abbey's parent company, Spanish banking group Santander, is migrating the UK bank to its Partenon global banking system, in what the bank says is the largest IT project of its type in the UK. The bank said only a small number of customers had been affected. But staff say they are under pressure because of difficulties with the roll-out. Linda Rolf, general secretary at the Abbey National Group Union, said, "I am aware of the system problems and we have discussed it with management. The systems are improving and will improve further." .
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