Banks warned to keep up with technology or lose customers
"Banks aiming to retain their customers must court the Middle East's young, technologically adept population with innovative payment methods or suffer dwindling profits, a top banker has warned.
Speaking at the Middle East Retail Banking Forum in Dubai, Sanjoy Sen, the regional head of consumer banking at Citibank, said banks should heed the growth of new card payment methods such as Visa payWave and mobile phone payment applications such as Square and Zong."
Standard Chartered Takes Banking Mobile with the Flash Platform
"Standard Chartered, a leading international bank with almost 150 years operating in markets such as Asia, Africa and the Middle East, realized that its customers wanted to bank anywhere, anytime in a simple, convenient and intuitive way. After all, well over half of its customers would be using mobile banking in 2011. Mobile banking, however, can be a Catch-22. The customer experience should be richly functional, versatile and engaging, but whatever Standard Chartered built had to present minimal development costs and a reduced time to market."
ANZ goMoney mobile banking app delivers new way to make payments
"ANZ New Zealand’s mobile banking application, ANZ goMoney is being launched today. The bank says it is the first convenient and simple way for customers to securely transfer money between friends, relatives and businesses using only mobile phone details. Currently available for use on an iPhone, ANZ goMoney is free and can be downloaded via iTunes. The application when launched in Australia by ANZ in August 2010 topped the iTunes charts as the most popular finance application only days after its launch. Currently 280,000 Australian iPhone owners use ANZ goMoney."
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