Showing posts with label banking. Show all posts
Showing posts with label banking. Show all posts

Saturday, March 16, 2013

Virtual banks

Virtual banks are increasingly popular among investors. Since they have combined more advantages than the regular banks, people are attracted towards it. Now a day we are hearing more positive news about them. As the name suggests, almost all their entire activities happens online. Having all their activities focused on the web platform their operating cost minimized. No need for branches and no need for high paying multiple advisory. Consequence of all these the money savings are passed on to the customers virtual banks. In banking industry, the bank charges are very high and they are charging for each withdrawal but this kind of charges can be avoided in the online banks.

In virtual banks the administration fees and other regular bank charges are absent. You not only pay less but also the offer higher interest rates for your money deposited with then unlike the other street banks. With online banking, you can access your money at any time, 24h/24 and 7 days / 7. Sites are secure and the customer service is often of good quality. You can also automatically save practicing payroll deductions and pay yourself first. This behavior is preferred to achieve affluence smile icon Virtual banks. Finally, there is no bank fees charged; no minimums and most importantly, no limit transactions.

Saturday, April 28, 2012

Panorama of the Luxembourg banking

Since World War II, the Grand Duchy of Luxembourg has become one of the richest countries of the world in terms of per capita GDP, supported by a financial services sector booming, political stability and European integration .

The Luxembourg banking sector in figures

Luxembourg's financial sector, the largest contributor to the Luxembourg economy (one quarter of its GDP), plays a major role as an international financial center. Taking advantage of a favorable tax legislation, many banks and investment funds have moved into the capital.

Friday, July 1, 2011

Definition of Indicators

The definition of indicators based on the combination of an empirical, research-based elements of non-quality in the device in place, and a theoretical approach, having as a starting point to identify key parameters management customer risk:

To invest in the improvement actions that correct the non-quality aspects of the most sensitive, the first step is to build a balanced scorecard indicators are most representative. It is an indispensable asset to the achievement of a critical diagnosis and appropriate vis-à-vis business strategies (risk, marketing, sales ...) defined. While some indicators can be retained only for statistical purposes, the others must be action-oriented: this means they must be involved in a lens quality (which will result in the definition of alert thresholds or levels of expected results ...) and an action plan to achieve the objective. The role of each business direction and / or SI concerned to arrive at the expected level of quality must be so in a charter previously defined: it is one of the key success factors of the process.

Identify the characteristics of the third party repository brings out the different types of people (customers, prospects, guarantees ...), information (customer classification, signs of third party monitoring bodies ...), for which the required quality levels are not necessarily the same. Two examples: the rate of duplication, including the reduction can improve the consolidation process and risk capital allocation, the rate of third parties not identified as an affiliate of the bank, resulting in poor consolidation risk on intra banking group.

Wednesday, June 29, 2011

Operative management - data quality

The importance of data quality in the operative management of counterparty risk.

Despite the efforts made by financial institutions to ensure compliance with the Basel 2, the internal audits and supervisory bodies highlight gaps in devices management customer risk.

Beyond the third scoring models in place to comply with regulations, financial institutions must continue efforts to ensure a sustainable level of quality control and so effectively and Reliable customer risk. If there are relatively simple and fast to improve data quality, only a comprehensive approach and equipped keeps this level over time and create a culture of quality in financial services, with the image of the industry.

The banking and financial regulation on the internal control of credit institutions and investment firms provides an outline of points to watch it should be integrated within the device management of counterparty risk.

To ensure compliance with regulations and ensure the proper level of control internally, branches wish to have the core quality indicators ensuring the validity of the information system risk management, validating the defined risk strategy and organization established to cover the risk client. The only way to dispose of is to use information systems to provide a quantitative analysis, but the relevance of these indicators is based on the quality of the IS.

System-level information, the presence of duplicates, unreliable links or combinations obsolescence of client identification are some examples of non-referential quality of the third most frequently cited. If they do not prevent the IF function, these problems can have a significant impact on end users and in particular the process of consolidating risks, commercial pilot, the fight against money laundering and grant decisions.

Thursday, June 23, 2011

The variations in multi- channel strategy

The challenges of a multi-channel strategy are varied:

* Analyze the appetite canal of each client to use the appropriate channel.

* Update in real time all the information collected on the client and actions taken by the various channels.

* Provide a customer reference and not a contract or agency and reference different keys depending on the location of the system where you enter.

* Reorganize the network with the integration of multi-channel approach.

* To improve reception and increase the return rate to increase the effectiveness of campaigns.

* Controlling costs for greater profitability: to avoid cannibalization of a channel with one that would raise the cost of distribution for an identical volume of business.

The most delicate issue is to control the consistency of the channels. Indeed, the proliferation of channels only reinforces the risks associated with direct marketing campaigns: a campaign will generate even more inadequate for dissatisfaction it has been sent two or three times through multiple channels. Each pipe has its constraints that can undermine the effectiveness of a marketing campaign. The combination of more channels and interactivity allow them to circumvent these risks. To do this, the use of multi-channel increases the requirement on the supply, logistics, commercial pressure campaigns, performance monitoring and adjustments as well as organizational, process information system.

In conclusion, this multi-channel strategy, which appeared some years ago, remains in the crosshairs of the current issues. We have well established the online insurance cyber banking and have not had the desired penetration in the market. The trend can still be reversed and for the moment, many drivers have yet to be exploited:

* Messaging customized web portals of all institutions,

* The design of targeted advertising based on the behavior of the user,

* Improved tools subscriptions on the Internet and telephone (secure sites: electronic signature ...)

* Agency home with the setting up of terminals advisors.