Retail Banking

Outdated ID Checking Processes Couse for UK Banks to Lose Half of New Online Account Applications

Identity confirmation provider HooYu today released its Digital Banking Benchmark Report. The report analyses the online account opening performance of five of the UK’s top retail banks to investigate where banks can improve their online account opening processes. On average, only 53% of online account openings are completed, meaning that 47% of online account opening attempts are left abandoned. Read more »

Ingenico Predicts Black Friday Spending Growth Across UK and Europe

The UK is set for higher online Black Friday retail spending growth than the US, according to new data from Ingenico ePayments, the online and mobile division of Ingenico Group.  Read more »

High-Street Struggles to Meet Demand of Time-Poor and Tech-savvy Shoppers

With Black Friday fast approaching and marking the start of the busiest shopping period of the year, new research from Barclaycard has revealed that frustrated consumers are turning their backs on the high street. As a result, retailers are facing growing pressure to improve their in-store experience, or risk losing out on sales. Read more »

Alibaba Group Generated USD 7 Billion of GMV within the First Two Hours of the 2016 11.11 Global Shopping Festival

 Alibaba Group Holding Limited (NYSE: BABA) announced that more than USD 7 billion (RMB 47.5 billion) of gross merchandise volume (GMV) was settled through Alipay on Alibaba’s China and international retail marketplaces within the first two hours of the 2016 11.11 Global Shopping Festival.  Read more »

Love of British High Street Endures, but Shoppers Crave More in-store Technologies Like VR

The enduring role of the British high street is revealed in new research by Barclays, with two-thirds of shoppers still preferring to view valuable products in person before buying. As the retail sector prepares for the impact of Brexit, The Barclays New Retail Reality report uncovers a desire for a new form of high street that is more diverse and makes better use of technology, while revealing that two thirds of the UK population want the... more Read more »

Banco CTT Implements Misys FusionBanking Essence

Misys today announced the successful implementation of Misys FusionBanking Essence for Banco CTT, a new bank launched by Portugal’s national post service, CTT Correios de Portugal. The bank opened its first branch in November 2015 and then launched 51 branches in one day in March 2016 – the largest such opening in the country’s history – and is aiming for 200 branches by the end of the year. Read more »

Access to Deals and Information Drives Faster Major Purchase Decisions

Empowered with research, reviews and real-time discount information, shoppers making purchases of $500 or more are more decisive and deal-oriented than ever before, according to Synchrony Financial’s Fifth Annual Major Purchase Consumer Study. Read more »

Ingenico ePayments and InternetRetailing Find Half of Online Retailers Lack Localisation Capabilities When Expanding Internationally

The key to global success in retail is thinking local. But results of a new national survey reveal an extraordinary lack of local consideration from many retailers when going international. The in-depth research, Passport to International Sales was undertaken by Ingenico ePayments, the online and mobile commerce division of Ingenico Group, in conjunction with InternetRetailing, Read more »

HSBC allows customers to verify their bank accounts with selfies

HSBC UK business customers will enjoy a streamlined account opening experience following the launch of ‘selfie’ verification, giving businesses the option to complete ID security checks on their mobile device. Available now, this latest digital enhancement simplifies the way businesses open an account by allowing ID verification to be securely completed in a few clicks on an Apple or Android device. Read more »

Alibaba and UTCC Team up to Launch an International E-commerce Program

University of the Thai Chamber of Commerce (UTCC), Asia'sleading business university with a commitment to creating innovation driven entrepreneurship, offers innovative entrepreneurship courses to students in every faculty via the digital hybrid learning system. While its EGG Project, aimed at training students to start startups, provides an opportunity for student to run a real business and prepare them to enter the era of digital economy and ... more Read more »

AXA, Alibaba and Ant Financial Services Sign Strategic Partnership

AXA, Alibaba and Ant Financial Services have agreed to engage in a global strategic partnership to jointly explore opportunities to distribute AXA’s insurance products and services through Alibaba’s global ecommerce ecosystem, benefitting the businesses and consumers that transact via Alibaba’s marketplaces. The companies will seek to work together to co-innovate and to develop value-added products and services to customers around the world as... more Read more »

Gulf Bank Gets Distinction by IFM 2016 Awards

London-based International Finance Magazine has conferred the 2016 award for 'Best Retail Bank' and 'Best Retail Customer Service Bank' in Kuwait to Gulf Bank. Gulf Bank was established in 1960 and has since progressed to becoming an industry-leading financial services provider complemented by a large network of 56 branches strategically positioned in key locations in Kuwait. Read more »

Walmart Launches Walmart Pay in Virginia and the Carolinas

Walmart knows customers want to save not just money, but also time. That’s why Walmart introduced Walmart Pay – a safe, easy, convenient way for customers to pay with their smartphones in Walmart stores. Read more »

Shell Stations to Accept Chase Pay

Chase announced today that it has signed a multi-year agreement with Shell to accept Chase Pay at its stations across the U.S. Chase Pay is a payment service that lets Chase credit and debit customers pay at the pump, in stores, online and within an app. Chase Pay will help Shell transform its customer payment and loyalty experience by enabling a mobile payment solution and driving Fuel Rewards®program participation. Read more »

Paytm Goes Live with Infosys Finacle to Power its Payments Bank Business

Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys (NYSE: INFY) and Paytm, India’s largest mobile payments and commerce platform, today announced that the Finacle Core Banking solution has been selected to power Paytm’s new payments bank business. Paytm will leverage Finacle’s proven platform for its deposit products and payments platform, enabling it to rapidly roll out innovative offerings. Key Highlights: Read more »

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