Category Archives: Online Banking

Online Banking

Research: 53% of HNWIs relocating or intending to relocate would expect online banking to be part of an international wealth management proposition

LUXEMBOURG, Nov-16-2017 — /EuropaWire/ — New research from The OneLife Company reveals that ensuring investments are tax efficient and managing international tax commitments are among the top financial priorities for internationally mobile HNWIs. In spite of this, fewer than 40% of relocators feel that their investments are as tax efficient as they need them to be.

The insight points to the growing urgency for wealth managers to tailor solutions and services to international clients. One in four European HNWIs surveyed has previously moved countries to live or work, with a further 13% intending to relocate for the first time in the future. The appetite for international living is rising further among the millennial segment, with the number of relocators and future relocators under the age of 35 rising to 43% and 20% respectively.

The research, carried out in conjunction with wealth insights firm Scorpio Partnership, considered the views of 770 HNWIs from Belgium, Denmark, Finland, France, Portugal, Spain, Sweden, Switzerland and the United Kingdom. The average wealth of participants was EUR2.76 million.

Responses revealed that 46% of individuals relocating or intending to relocate would expect tax advice to be part of an international wealth management proposition. Notably, 27% would also require life assurance to be included within the product suite, with this figure rising to 39% among those under 35.

“Younger generations of clients are more likely to relocate and are clearly more cognizant of the range of benefits – such as portability – which life assurance can provide,” commented Marc Stevens, Chief Executive Officer at OneLife.

The findings also point to the significance of technology for the relocator segment. Online banking was the top requirement in an international wealth management proposition, with 53% of relocators saying this was necessary to manage wealth.

This was affirmed by the fact that individuals who continued to work with their primary wealth manager following relocation referenced quality of tools as the primary reason to stay with the firm. By contrast, a quarter of individuals changing wealth management provider following relocation cited lack of suitable digital services as a motivator to pursue a different relationship.

SOURCE: EuropaWire

Vivier Chief Executive, Luigi Wewege Announces New Book: The Digital Banking Revolution

AUCKLAND, NEW ZEALAND and COLUMBIA, SOUTH CAROLINA and MADRID, SPAIN, 2016-Dec-21 — /EPR Network/ — Luigi Wewege’s latest book, The Digital Banking Revolution, shares his inside perspective on how financial technology companies are rapidly transforming the traditional retail banking industry through disruptive innovation.

In The Digital Banking Revolution, Wewege provides a look at how over the past decade financial service innovations have contributed to a completely new way in which customers are able to bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations.

Luigi’s book presents the ways these new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant, and stop mass client attrition to these agile financial start-ups.

“These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous,” said Wewege.

Supported by numerous illustrations, the book spans a diverse range of topics from big data analytics and mobile payments to the evolving behaviors of financial consumers. The Digital Banking Revolution concludes with Luigi providing his predictions in the book’s final chapter, which is titled The Future of Banking. In this chapter, he outlines how he believes financial services are likely to evolve, and be conducted going forward.

The book is currently available for purchase online at Amazon.com in Kindle and paperback versions, as well as being offered via a number of other major online booksellers. To learn more about the author – Luigi Wewege and his new book, The Digital Banking Revolution, please visit: www.digitalbankingrevolution.com.

ABOUT LUIGI WEWEGE
Luigi is the President and CEO of Vivier Group, a multinational financial group of companies, providing its services worldwide through representation in jurisdictions across Africa, Asia, Oceania, Europe and South America. Outside of Vivier he serves as the Non-executive Chairman of Nikau Global an international trade and development firm, as Partner/Director of Palmetto Global Ventures a bespoke financial management consultancy firm, and is an invited member of Boston, Massachusetts based non-profit the Young Entrepreneur Council. For more information, about Luigi please visit: http://www.luigiwewege.com or alternatively reach him via Twitter @luigiwewege.

 

Media contact:
Brandon Hopkins
Email: info@digitalbankingrevolution.com
Phone: 803-404-4851
Web: www.digitalbankingrevolution.com

Via EPR Network
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Experian Reveals Mortgage Fraud Set To Surge In 2013

Experian predicts there will be a dramatic increase in attempted mortgage fraud in the UK next year, bringing the number of people fraudulently trying to obtain home loans to the highest level since records began in 2009.

A total of 43 out of every 10,000 mortgage applications are expected to be identified as fraudulent in 2013 – marking a rise of 13 per cent on 2012 figures and 26 per cent on 2011. The majority of attacks are likely to continue to come from first party fraudsters – essentially individuals misrepresenting their own financial circumstances and employment statuses or attempting to hide adverse credit histories.

Meanwhile, Experian’s latest Fraud Index*, which highlights the evolving nature of the fraud threat facing the UK’s financial services sector, also revealed that attempted mortgage fraud in the third quarter of this year was up six per cent on the same period in 2011, with 38 in every 10,000 applications deemed fraudulent – compared to 36 in every 10,000 12 months ago. It is also the first time within the past year that mortgage fraud has overtaken current account fraud as the area targeted most frequently by fraudsters.

Overall, 17 in every 10,000 applications received by financial institutions in Q3 of this year were detected to be fraudulent – seven per cent more than the same time last year, with savings accounts seeing a rise of 58 per cent. However, attempted fraud in the automotive finance sector fell for the sixth consecutive quarter, with 15 in every 10,000 fraudulent applications discovered between July and September 2012 – down 29 per cent when compared with 2011.

Nick Mothershaw, Director of Identity & Fraud Services at Experian in the UK and Ireland, said: “Almost 90 per cent of mortgage fraud tends to originate from genuine individuals misrepresenting their financial situations attempting to buy property that would ordinarily be out of reach. With tougher rules on UK mortgage lending set to come into force in 2014, where lenders will have to put a borrower’s ability to repay under greater scrutiny, it important that they have the correct tools in place to do this, especially as attempted fraud in this industry is set to increase significantly over the next 12 months.

“Increased fraud levels in specific industries mean that it has never been more important to ensure that applications for new credit facilities are analysed for signs of fraudulent activity. Simple steps organisations can take to mitigate risk include robust checking of new applications for credit using tools that reveal first party fraud and organised fraud rings, continually reassessing fraud risk across existing accounts and introducing true identity authentication using facts only a genuine applicant will know on all products, not just the higher risk ones.”

Via EPR Network
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Experian strikes new three-year data and analytics deal with Hitachi Capital UK

Experian has announced a renewal of its strategic partnership with Hitachi Capital UK.

The partnership will see Experian continuing to provide a range of acquisition credit risk,customer management, affordability and ID verification products.

Hitachi Capital UK operates extensively in the retail finance sector and has opted to extend its use of Experian’s Detect and Hunter fraud prevention services, improving its control of credit and fraud risk and the efficiency of its application processing.

It will also use Experian’s Electronic Identity Authentication service for real-time validation and ID verification of customers.

Andrew Davies, Head of Risk at Hitachi Capital UK said: “Experian’s analytics and data expertise has given us far better control over both credit and fraud risk, and enables us to run a fast and efficient process at the point of application. This partnership extension will enable further improvements in these areas, extend the positive experience we provide to new customers across all areas of the business and to spot opportunities to strengthen and deepen relationships with our existing customers.”

Gary Wood, UK&I Managing Director for Experian Decision Analytics, said:
“Organisations that are serious about achieving sustained growth are increasingly turning to advanced analytics to drive improvements in their decision making strategies. We have worked closely with Hitachi Capital UK to enable them to make faster and more effective decisions on new customers, to improve their offering to existing customers and to provide more precise insight into credit and fraud risk.

“We are aware that for innovative organisations like Hitachi Capital UK, investing in a highly sophisticated infrastructure that enables it to control risk effectively while helping it grow its lending capabilities is absolutely crucial. This is a significant deal that will play a huge role in protecting the organisation’s asset quality.”

Via EPR Network
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Experian helps Hammersmith & Fulham save £3,000 a day in the fight against social housing tenancy fraud

Experian has assisted The London Borough of Hammersmith & Fulham in recovering almost £3,000-a-day for the public purse with an ongoing and highly successful programme to prevent social housing tenancy fraud in its 12,000 social homes.

The local authority is working with Experian to deploy the latest fraud detection techniques in a programme that has significantly reduced the level of social housing tenancy fraud in Hammersmith & Fulham. Experian’s analysis, combined with the in-depth local knowledge and expertise of its fraud investigators, has yielded savings of more than £650,000 in the first seven months, with more savings expected to follow.

Councillor Andrew Johnson, Hammersmith & Fulham Cabinet Member for Housing, said: “These stunning results prove our zero tolerance towards fraud is working. Every fraudster profiting from the most vulnerable members of society by unlawfully sub-letting social homes should know they now run a very high risk of being caught.

“Every home that is sub-let is a property taken away from a person or family in need.

“Experian is working with Hammersmith & Fulham to enable the investigation team to review and follow up suspected fraud cases. Within the first seven months, around 300 high-risk properties were investigated resulting in savings of £654,000 to the public purse – the equivalent of nearly £3,000–a-day. In many cases keys were very quickly surrendered following an e-mail, phone call or visit from the local authority.

“Our data-matching work with Experian, underpinned by our cost-effective internal analysisis expected to save £1 million in the first 12 months of the exercise.”

At present, current fraud estimates are based on collective samples of individual housing providers and suggest Social Housing Fraud is a significant problem in the UK with evidence of fraud in at least 6 per cent of social homes. But the true figure is almost certainly higher as this estimate does not include fraudsters that have obtained multiple tenancies in more than one local authority or housing association. A true estimate of the scale of the problem will require combined data sharing and matching between all social housing providers. Indeed, the problem of social housing fraud cannot be effectively addressed or solved without effective coordination between providers.

Experian is already working with over 30 social housing providers to help prevent social housing tenancy fraud. Our most recent fraud analysis in January 2012 covers a quarter of a million tenancy records representing a broad spread of urban and rural social housing providers. Work to date has detected potential fraud in over 6 per cent of tenancies nationally, one in sixteen social homes. However, in some areas the level of detected fraud is significantly higher, particularly in premium locations such as London, where some local authorities there are suffering rates as high as nine or ten per cent.

Via EPR Network
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Experian Reports New Euro Rules Expose Businesses To €20 Billion Payment Bill

A new report from Experian, the global information services company, has revealed European businesses risk losing billions of Euros as a result of failure to tackle simple payment errors.

The move to a single SEPA (Single Euro Payments Area) payment system – designed to simplify and streamline processing operations for domestic and international payments – will expose out-of-date account data and other errors that were previously overcome through a patchwork of locally implemented fixes. SEPA becomes mandatory in February 2014 for Eurozone countries and 2016 for businesses in non-Eurozone territories wishing to make and receive payments in Euros.

Experian analysis of over half a million records bank account records held by businesses around Europe has revealed that 12 per cent of electronic payments made to and from businesses in Euros currently contain data errors that could critically block the timely and cost-effective transfer of funds when new legislation for SEPA payments first comes into effect in February 2014. Only 65 per cent of Euro transactions are underpinned by fully accurate destination account data.

It has also found that 45 per cent of new SEPA-compliant International Bank Account Numbers (IBANs) stored by large European businesses do not have the valid corresponding Bank Identifier Codes (BICs) required to enable successful completion of transactions.

Experian has warned that these same error types will lead to payment failure when made through SEPA, costing businesses approximately €50 for each failed transaction, and leaving a total bill of more than €20 billion a year. An average error rate of around one in eight equates to a potential cost of €600,000 for an organisation transacting with 100,000 bank accounts.

Jonathan Williams, Director of Payment Strategy at Experian, commented: “The SEPA initiative is a key component to strengthening the financial foundations of the Eurozone with improved and more efficient end-to-end straight-through processing of payments. While SEPA will undoubtedly benefit organisations trading in Euros, errors in bank account details held by European businesses risk causing significant teething problems as locally implemented fixes – which have largely worked so far – are made redundant by the new common payments system.

“European businesses need to analyse their account data, fix any errors and convert this information to the correct SEPA standard, to ensure suppliers, partners and staff continue to get paid on time when the new rules come into place. Early adoption is crucial. If left to the last minute, the SEPA requirements have the potential to be both disruptive and costly.”

Via EPR Network
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Experian’s 192business named as preferred identity supplier to Law Society

Experian, the global information services company, announced its 192business unit has been selected by the Law Society as its preferred supplier of electronic identity verification tools for anti-money laundering purposes.

192business, part of Experian since it was acquired in March 2012, provides organisations with a range of electronic identity verification tools, including personal data verification, fraud screening and document verification. These products are already used by 44 of the top 100 UK law firms to meet client due diligence obligations under the Money Laundering Regulations 2007 and to mitigate the risks of making payments in contravention of the UK financial sanctions regime.

Nigel Spencer, Chief of Commercial Affairs at the Law Society, said: “Experian and 192business have worked closely with the Law Society to ensure that its identity verification services are tailored to the specific needs of the legal sector. Accurate and efficient identity verification is vital for meeting the evolving challenges of complying with financial crime prevention rules.”

Nick Mothershaw, UK director of identity & fraud services at Experian, commented: “Firms across the legal profession have successfully managed money laundering and payment risks working in partnership with 192business. Since 192business became part of Experian earlier this year we have further strengthened our position amongst the legal community and are delighted that the Law Society has chosen to endorse our range of identity verification tools.”

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Experian Reveals Surge In Mortgage And Savings Fraud

Experian, the global information services company, has revealed that the mortgage industry saw a 23 per cent jump in attempted fraud rates between April and June 2012. In the meantime, Experian’s latest Fraud Index shows that fraud fell by three per cent year-on-year across financial services products with automotive finance and insurance providers witnessing the biggest decreases during the period.

A total of 39 in every 10,000 mortgage applications were identified as fraudulent between April and June 2012, up from 32 in during the same period in 2011. Experian’s fraud analysis also revealed that the majority of attacks on mortgage products continue to come from first party fraudsters, individuals misrepresenting their own circumstances. Almost a quarter (24 per cent) of attempted mortgage fraud was due to individuals hiding adverse credit information and a further one in five (21 per cent) applicants providing misleading employment histories.

Savings accounts saw a 109 per cent uplift in fraud rates over during the period also. A total of 13 fraudulent applications in every 10,000 were detected, up from 6 in every 10,000 a year ago. Third party identity fraudsters were responsible for the vast majority (88 per cent) of fraudulent activity in this sector. 11 in every 10,000 falsified savings account applications were down to unrelated third parties. This kind of identity fraud is often perpetrated for money laundering or sleeper fraud purposes.

Nick Mothershaw, Director of Identity & Fraud Services at Experian in the UK and Ireland, commented: “Over the course of the last year, we have seen mortgages continue to be targeted at a high rate, with more people trying to misrepresent their personal, employment and credit information on applications to get properties out of their reach. At the same time, we have also seen an increase in the number of properties where the use of the property is misdeclared, such as applying for a regular residential mortgage on a buy-to-let property.

“Meanwhile, deposit taking products – such as current and savings accounts – continue to be heavily targeted by third party identity fraudsters for money laundering purposes and as a sleeper platform from which to target more lucrative credit products.

“Robust fraud prevention relies on thorough and efficient validation of customers’ identities and the information presented on the application form. It is vital that finance providers share comprehensive and timely information about finance applications and known frauds to help combat this common threat to the industry.”

The automotive finance industry saw a decrease of 32 per cent in Q2. 16 in every 10,000 applications were discovered to be fraudulent, down from 24 in every 10,000 applications last year. Attempts at hiding adverse credit (64 per cent) were still the most common method when applying for automotive finance.

Via EPR Network
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OKPAY.com Introducing Virtual Prepaid MasterCard

OKPAY is one of the most dynamically developing financial company nowadays. OKPAY is available to clients worldwide since 2010. Providing a customer-focused, convenient and fully fledged financial services have always been the Company’s credo.

Almost a billion of consumers don’t have a credit card and many who have a card don’t wish to use it because of the various security concerns. In order to provide a solution for these customers OKPAY Company is offering a Virtual Card feature.

Main benefits of the virtual cards are maximum security, no credit assessment, availability for immediate use.

OKPAY Virtual Debit Card Benefits

OKPAY MasterCard provides clients an easy and secure online payment source with several million retailers worldwide. A short time upon card application approval client obtains virtual card credentials (containing primary card information required for online purchases).

Virtual card has a temporary number that can be used for one time or several online purchases. This card number is useless to hackers, because even if the card number becomes uncovered it will not be useful as the card most likely won’t have available funds.

To keep online shopping even safer OKPAY Company recommends transferring funds to the virtual card at the moment when ready to make a purchase. This way the transfer amount can match the checkout price and the card balance will remain empty until next payment.

Identity theft is also a major concern nowadays. The virtual card number does not lead to any real credit card numbers or bank accounts associated with it. OKPAY Virtual Card is a Pre-Paid card, which means that it has a spending limit, which is not linked to a Wallet balance.

It only takes a few days to generate and receive a virtual card number that can be immediately used for purchases as a valid card over the internet. There are over 33 million MasterCard® merchant locations worldwide.

“Our goal is to create an ultimate payment financial service, suitable and convenient for both sellers and buyers. We have celebrated our second birthday not long ago, and we are glad to see our client’s satisfaction and continuous support,” says Konstantin Romanovsky, OKPAY President and CEO. “We are happy to keep improving OKPAY. This time we would like to offer you a great option for secure online shopping – OKPAY Virtual Debit Card!”

For more information on OKPAY Virtual Debit Card solution visit OKPAY News.

Via EPR Network
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Atos And Travelex Strengthen Partnership With Major New Contract

Atos, the international IT services company, has announced that it has signed a major five year contract with Travelex, the world’s leading specialist provider of foreign exchange and international payments for consumer and business customers.

Under the five year agreement Travelex and Atos Worldline, which represents Atos’s high-tech transactional services, will collaborate to provide enhanced cross-border card payment capabilities.

The partnership will allow shoppers at over 72,000 point of sale machines in Atos Worldline’s participating merchant network in Europe to pay in their preferred currency. Travelex Currency Select enables acquirers to provide shoppers with transparency, certainty and choice at the point of sale.

Atos Worldline has global experience in providing merchant acquirers with payment solutions. Travelex also effectively operates as an acquirer in its own right with its global ATM network as well as its own “direct-to-market” merchant acquiring business.

Atos believes that this expertise in foreign exchange complements Atos Worldline’s position as a leading commercial acquirer in Europe with a significant merchant portfolio, especially in the Benelux region.

Atos Worldline and Travelex plan to deploy the cross-border card payment functionality solution on card-present (POS) and card-not-present e-Commerce channels to European merchants in 2012.

Commenting on this announcement, Peter Jackson, Chief Executive Officer of Travelex said: “This deal demonstrates our ability to develop and deploy innovative foreign exchange payment solutions in growth market segments that are outside our traditional retail sphere. Atos Worldline is the ideal partner with deep expertise in card acceptance solutions and payments in general. We look forward to growing our joint business together.”

Joe Edwards, Senior Vice President for Sales and Marketing, Atos said: “Through our partnership with Travelex, we can provide them with our specialist expertise in electronic transactions, which is essential to the growth of their business. We already have a very solid relationship with Travelex by supporting their e-commerce strategy, and we are looking forward to cementing this relationship further.”

Earlier this year, Atos and Travelex further extended their relationship via a Systems integration (SI) agreement. Atos has been a key supplier of IT solutions and services to Travelex for some years and continues to provide support and delivery capabilities across the Travelex IT estate.

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A New Government-Run Service Is Set To Provide Impartial Financial Advice For Millions Of UK Citizen

A new Government-run service is set to provide impartial financial advice for millions of UK citizens looking for help with money matters.

A New Government-Run Service Is Set To Provide Impartial Financial Advice For Millions Of UK Citizen

The service – called Moneymadeclear – was launched by Chancellor of the Exchequer Alistair Darling and will provide free consumer advice from independent financial experts.

Moneymadeclear gives people the chance to pick up the phone, talk face-to-face or get information online with regard to money worries, financial planning and information on consumer rights.

The service also gives advice to consumers who think they may have been mis-sold a financial product and don’t know what action to take.

A service such as this is long overdue says life insurance comparison site QuoteBoffin.co.uk:

“Consumers have long deserved a service that is concise and impartial as Moneymadeclear, especially for people who have concerns over money but do not know who to turn to.

Moneymadeclear also supports the different ways in which people take in information as well as the resources consumers have available. For example, some people prefer to use the web to get information whilst others are more comfortable meeting an advisor face to face and so forth.”

The Government has trialled the service in the North East and North West since last April. The trial helped 500,000 people and is expected to assist a million people in the next year alone.

Chancellor Alistair Darling said:

“Moneymadeclear is free, impartial advice for all, whether you are unsure about the small print in a mortgage form; want advice opening a savings account for your children or grand-children or want some help dealing with repayments before they get out of hand.”

In a post recession economy the importance of financial support for concerned consumers will undoubtedly be welcomed by people looking to firm up their finances.

QuoteBoffin.co.uk went on to say “Although the UK has officially left the recession it’s going to take many years to see a full recovery. This means that continued job losses, mounting debt and high interest rates will put continued strain on consumers.

Via EPR Network
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National Savings & Investments win industry award for successful MyLostAccount campaign

National Savings and Investments (NS&I) has been awarded the Most Effective Advertising Campaign at this year’s Financial Services Forum Awards for Marketing Effectiveness for the successful campaign for mylostaccount.

Launched in January 2008, mylostaccount is the free, ‘one-stop shop’ website to trace bank, building society and NS&I savings accounts. Designed to make it quicker and easier to search for lost savings, the website brings together the existing tracing schemes from the British Bankers’ Association (BBA), Building Societies Association (BSA) and NS&I.

mylostaccount was promoted by an extensive online and print campaign that commenced in February 2008. The campaign was fronted by a cartoon image, ‘Fetch’ the dog, and was designed to appeal to a wide audience.

Ayesha de Silva, Online Marketing Manager at National Savings & Investments who collected the award said, “To receive the award is a real honour for all of us at NS&I and our partners, the BBA and BSA. The mylostaccount website has certainly proved popular with the public in 2008 and the concept of ‘Fetch’ was a straightforward and fun way to make people aware of the new website.”

The campaign identity and advertising was developed and produced by CST and media buying handled by OMD UK. The website was built by Wrenhill.

In the first six months of mylostaccount, more than 140,000 people submitted search forms for money left unclaimed in dormant bank, building society and NS&I accounts. This compares with 44,000 claims in 2007, via the BBA’s, BSA’s and NS&I’s own tracing services, prior to the launch of the website.

The free website has also averaged over 760 claims per day since its launch, as savers have become more aware of this easy way of checking whether any of the estimated £1 billion lying in dormant accounts is rightfully theirs.

The Financial Services Forum Awards for Marketing Effectiveness, introduced in 2002, are dedicated to recognising and rewarding proven success in the presentation and promotion of financial services and products. At the award ceremony the site was also Commended for two other awards, in the Digital Activity and New Product, Service or Innovation categories.

About mylostaccount:
mylostaccount is a free website created by NS&I along with the British Bankers’ Association (BBA), the Building Societies Association (BSA), which is designed to help account holders search for lost bank, building society and NS&I accounts by simply completing just one application form.

About NS&I:
NS&I is one of the largest financial providers in the UK with 28 million customers and over £83 billion invested. It is best known for Premium Bonds, but also offers High Income Bonds, ISA accounts, Guaranteed Equity Bonds and Children’s Bonus Bonds in its range. All products offer 100% security, because NS&I is backed by HM Treasury.

NS&I products are available over the telephone, internet, post and by standing order. They are also available through a network of 14,000 UK Post Office branches.

Via EPR Network
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Barclays release new video highlighting the risks of online fraud that their customers may face when using the internet

Barclays new video, which is presented by television reporter Spencer Kelly, outlines the key risks such as phishing and malicious software and provides advice on what can be done to avoid these threats as well as the things Barclays does to protect customers.

Barclays is a leader in online banking security initiatives having launched PINsentry in 2007. PINsentry uses a handheld card reader and chip and PIN technology to verify customers’ identities for online banking. Without the need for passwords or memorable words, PINsentry has introduced a new layer of security to online banking, with users being issued with a unique eight digit code, helping to fight fraudsters who hack into people’s computers or utilise “phishing” emails to steal login details. Over 1.5 million customers are now using PINsentry and it was recently named the Best Security Initiative at the Nominet Best Practice Challenge 2008 awards.

In June 2008 Barclays became the only bank to offer all of its customers a full freeonline security software package. The package, from award winning internet security provider Kaspersky, includes anti-virus software as well as a spam filter, parental controls, spyware, adware and firewalls and is available to all customers who are registered with Barclays online banking. As a result of these initiatives and continuing work behind the scenes, Barclays has seen a dramatic 91 per cent drop in the money lost to fraudsters from 2006 to 2007 and is the only UK bank to have seen a reduction in the number of phishing attacks.

Barclays fight against online fraud continues with a new ‘vidcast’ advising people on the best methods of internet security. The five minute video is available to watch at www.barclays.co.uk/video where viewers are also invited to post their comments including suggestions for subjects of future videos.

For more details on PINsentry, free Kaspersky internet security software and other online security information please go to www.barclays.co.uk/security.

About Barclays

Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 143,000 people. Barclays moves, lends, invests and protects money for over 38 million customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.

Video on www.youtube.com/barclaysonline

Via EPR Network

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Barclaycard Has Unveiled A New Logo And Visual Identity

Barclaycard has revealed the new logo that will be part of the company’s new virtual identity which will be introduced across all Barclaycard’s products, services and operations around the world over the next 12 months. It is a break from the logos used by Barclaycard during the last four decades, which had been designed to be seen on the traditional plastic card.

Antony Jenkins, Barclaycard’s CEO, said: “Barclaycard is leading a revolution which will bring people and businesses together to allow payments to be made in the easiest and most convenient way possible. Our new identity expresses where we see the future, freeing the chip on the credit card from the constraints of the plastic around it, making the way people pay for things simpler.”

Rhidian Taylor, Barclaycard’s head of brand management, added: “Our current logo and look have worked well for us as a UK credit card company, but they do not reflect the global payments company we have become. We needed to create a modern and distinctive look which signals where we are going as opposed to where we have been.”

The new identity has been developed in conjunction with consultancy The Brand Union and has been the subject of extensive research with consumers in the UK, US, Germany, Spain, India and the UAE. The new symbol depicts a world that is calm and confident on the outside, whilst warm and vibrant on the inside. In creating a symbol that is separated from the brand name, the new logo works better online and on some emerging payment tools such as mobile phones.

Customers will start to see the new identity being introduced gradually across Barclaycard’s products and businesses from October. Credit cards and stationery will be replaced in the normal course of events or as existing stock runs out to avoid extra expense. As credit cards last for up to three years, some will not see replacements with the new logo until 2011.

Via EPR Network
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Lloyds TSB has launched two new savings accounts in response to the demand for its savings products

Lloyds TSB has revealed the details of two brand new savings accounts, each offering customers the opportunity to earn up to 6% interest on their savings.

The first of the two new savings accounts, the Easy Saver 2012, tracks the Bank of England base rate until 31st December 2012 on a tiered rate up to 5.5 per cent*. The new account can be opened with a minimum balance of £1 and there are no penalties for withdrawals on the account. The account offers customers instant access to their savings and the tiered rate is designed to help consumers maintain their savings habit over the long term.

The one year term deposit rate is the second of Lloyds TSB’s new savings options. It allows customers to earn a guaranteed return of 6.00 per cent on investments of £2000 or more. The rate is guaranteed for the term of the deposit and customers can opt to earn interest on a monthly or annual basis, enabling them to use their savings interest to boost their monthly income.

Janet Pope, director of savings and investments at Lloyds TSB said: “In an uncertain economic environment, security is a top priority for savers. Our term deposit range** has proved extremely popular, as the guaranteed return gives customers the security to plan ahead, knowing exactly how much interest they will receive and when they will get it.”

Janet continued: “Whilst some savers may want to ring fence funds in a term deposit account, others want instant access to their cash. The Easy Saver 2012 encourages customers to build their nest egg over time, safe in the knowledge they can access funds at any point if they need it.”

The new Easy Saver 2012 account can be managed through any Lloyds TSB branch or via the telephone network. Existing Lloyds TSB customers can manage their account using internet banking and funds can be transferred instantly between savings and current accounts via the new mobile banking service.

Janet Pope continued: “We continue to see strong demand from customers for our deposit products as our savings range offers customers great rates combined with the accessibility of our 1,900 strong branch network and familiarity of a high street brand. Recently, we have seen a significant increase in deposits and in the last week alone, double the average numbers of term deposit accounts have been opened.”

About Lloyds TSB:
Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB offer a full range of financial services including savings and investments, current accounts and insurance. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065.

* Based on the current Bank of England base rate of 4.5 per cent. Interest will be compounded annually to the account or can be taken as a monthly income.
** On the term deposit range. No withdrawals or additional deposits are allowed during the term of the deposit. The minimum opening balance is £2000 and the maximum balance is £1 million.

 

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Barclays Has Become The First Bank To Offer Complete Free Online Security Software To All Its Customers

Barclays has become the first UK bank to offer all its two million online banking customers free internet security software covering not only anti-virus software but also spyware, adware, firewalls, parental controls and spam filters.

The offer is available to all Barclays customers who sign up for its online banking. The software provided by leading internet security firm Kaspersky normally retails for £51 for an annual subscription, but Barclays will offer it completely free of charge with customers able to download it from its online banking website.

This follows on from Barclays becoming the first UK bank to roll out its two factor authentication system, PINsentry, in 2007 which protects customers against phishing attacks and fraudsters getting hold of customer security information. Over 1 million PINsentry readers have already been sent out to customers.

Sean Gilchrist, Director of Digital Banking for Barclays, said: “For the last two years we have offered customers free anti-virus software, but as internet fraudsters become more sophisticated it is important that customers protect their computers from all threats and not just viruses. Kaspersky has one of the best reputations in the business and together with PINsentry we believe Barclays online customers will have one of the best security packages of all online banks.”

Barclays has signed a two year agreement to provide the Kaspersky software which will be worth £102 to customers. Barclays will also allow customers to download the online security software on up to three personal computers for each licence so that customers can protect all the computers in the same household.

Barclays customers that do not currently bank online can register by going toBarclays.co.uk. Non-Barclays customers can gain access to the free software by opening a Barclays current account in branch or online.

Notes to editors:
Registered users can download additional online video content including a number of clips of Sean Gilchrist, Barclays Digital Banking Director, outlining the launch of Kaspersky, the importance of security and top tips for consumers to keep them safe. Downloads are available from www2.vismedia.co.uk/login.php

About Barclays
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 143,000 people.

Barclays currently moves, lends, invests and protects money for over 38 million customers and clients worldwide.

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Loans for Home Improvement Projects Soar Reveals Lloyds TSB

New research from Lloyds TSB Personal Loans has revealed that over half (55 per cent) of estate agents nationwide have reported an increase in homeowners taking their property off the market in favour of making home improvements.

Lloyds TSB Personal Loans, surveyed 500 UK estate agents and over 1000 home owners to understand how would-be sellers are responding to the cooling housing market*. The research is published as Lloyds TSB revealed a 19 per cent, year on year increase in personal loan applications for home improvement projects.

The findings reveal that three in five (59 per cent) homeowners who had been looking to sell their property have put plans to move on hold due to rising concerns over property prices. Half of those staying put are opting to renovate their existing property instead.

Fifty five per cent plan to undertake improvements to boost chances of a sale in the current less buoyant market. However, almost a quarter (23 per cent) admit they are adapting their property to accommodate changing lifestyle needs and are keen to recoup any potential fall in house prices by adding long term value.

David Wishart, director of personal loans at Lloyds TSB, said: “In recent months we have seen a significant increase in home improvement personal loan requests. For the last decade homeowners have been able to sit back and rely on rising property prices to increase the equity in their home but sadly this is no longer possible. If you want to trade up and avoid substantially increasing your mortgage, you’ll need to add value to the house you’re currently in.”

TV presenter and property finder, Phil Spencer, commented on the research: “The current cooling of the property market is making homeowners think twice about selling up and many are opting to improve instead. In a buoyant market, people taking on a home improvement project could get away with less than perfect preparation or some slapdash sums, as their mistakes were covered by rising property prices. However, in today’s environment it is vital you plan any project thoroughly to ensure maximum return on investment.”

Lloyds TSB quizzed both estate agents and homeowners on the features most likely to help a property sell in the current climate. The findings reveal the top improvements likely to appeal to buyers are:

New kitchen (79%)
New bathroom (59%)
Extension (47%)
Loft conversion (29%)
Re-decorate (25%)

David Wishart continued: “Whether the motivation is a quick sale, adding long term value or accommodating changing lifestyle needs, it’s vital homeowners consider the financial investment they’re about to make. A personal loan can provide a hassle free, affordable way of spreading the cost.”

To help homeowners add value to their home Lloyds TSB personal loans has teamed up with Phil Spencer to create the Move or Improve Guide, offering practical advice and insider tips on the do’s and don’ts of home improvement. An audio podcast and PDF version of the guide is available to download free of charge.

About Lloyds TSB Student banking
Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN . Registered in England and Wales no. 2065.

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