Heat Index
big banner
right banner
right banner
right banner
right banner
right banner
Most Recent
Read More
March 12, 2018

More Than Half of Bank Customers Ready to Embrace Virtual Banking, J.D. Power Finds

Citibank Ranks Highest in Hong Kong Retail Banking Customer Satisfaction

With more than half (57%) of customers now ready to embrace virtual banking with their main financial institution, banks need to rethink their strategy in order to meet the changing needs of their customers, according to the inaugural J.D. Power 2018 Hong Kong Retail Banking Satisfaction Study.

Although the study finds that 71% of customers have used online banking (via PC) to interact with their main bank in the last 12 months, only 30% have used mobile banking, which is significantly lower than the 78% in mainland China, 43% in Australia, and 41% in Singapore. Nevertheless, it is clear that [...]

Read More
January 13, 2018

With Digital Emerging as Prevailing Banking Channel, Customers Still Prefer Personal Touch, J.D. Power Finds

Despite the high penetration of digital banking in Australia, when customers have a problem, they still prefer the personal touch, according to the J.D. Power 2017 Australia Retail Banking Satisfaction StudySM.

In the past 12 months, 89% of banking customers have used a digital channel to interact with their primary bank. However, customers still prefer to visit the branch or call a bank representative when they have a problem (86%) or question (73%). This is also the case for digitally savvy Millennials, with 85% preferring to speak to a person when they have a problem and 66% when they have a question.

“With most customers choosing to raise a problem or question with [...]

Read More
November 21, 2017

Emirates NBD rings bell to celebrate listing of USD 750 million bond on Nasdaq Dubai

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, one of the region’s leading banks, today rang the market-opening bell to celebrate the listing of a 750 million US dollar conventional bond on Nasdaq Dubai, the region’s international financial exchange.

The issuance underlines Emirates NBD’s commitment to further growth and expansion, building on recent developments that include increasing its international branch presence, enhancing its digital strategy and investing further in core businesses. Emirates NBD recently announced net profit reached AED 6.17 billion in the first nine months of 2017, up 15% from the same period in 2016.

Emirates [...]

Read More
August 30, 2017

Emirates NBD’s Pepper learns Arabic

Emirates NBD’s Pepper has now learnt to speak Arabic! The artificial intelligence (AI) powered humanoid robot, brought to the UAE by Emirates NBD last year, has been widely popular due to his novel proposition and charming personality, and will now also cater to the bank’s Arabic-speaking customers.

Adding a fun element to the banking experience, the bilingual Pepper will continue to interact with customers at the bank’s Jumeirah Emirates Towers and Dubai Mall branches and provide assistance with issuing branch queueing tokens, presenting information about products and services in an engaging manner and obtaining customer feedback through a happiness meter.

“Pepper has [...]

Read More
August 28, 2017

IDC Research Shows 80% of Asia/Pacific Banks Still Create Inconsistent, Unpredictable Customer Experiences

IDC Financial Insights’ recently completed benchmarking of the maturity of Asia/Pacific banks (excluding Japan) confirms that more than 80% of these banks are still in early stages of the maturity model — the ad hoc and opportunistic stages. These banks are lagging behind their global peers when it comes to strengthening experience excellence for their products and services.

The symptoms of this deficiency are varied, ranging from their inability to keep pace with the changing needs and requirements of their demanding customers to how the current business and IT digital initiatives are disconnected and poorly aligned. To be sure, most of these banks are attempting to [...]

Read More
August 11, 2017

HSBC and IBM develop cognitive intelligence solution to digitise global trade

HSBC, the world’s leading trade finance bank, is working with IBM to develop a cognitive intelligence solution combining optical character recognition with advanced robotics to make global trade safer and more efficient for thousands of businesses.

The new solution uses IBM’s advanced analytics technology, including intelligent segmentation and text analytics, to identify, digitise and extract key data within these documents before feeding it into the bank’s transaction processing systems; boosting accuracy whilst freeing up staff for more value-adding activities.

“The average trade transaction requires 65 data fields to be extracted from 15 different documents, with 40 [...]

Read More
May 26, 2017

RTA collaborates with ADCB on offering easy payment of fines, seasonal parking fees

The Roads & Transport Authority (RTA) in Dubai has teamed with the Abu Dhabi Commercial Bank (ADCB) in launching an initiative enabling motorists to pay for their RTA’s fines and seasonal parking card rates in easy instalments. It involves the offering, through the ADCB, of interest-free payment solutions to clients over various periods, depending on the amount of the fine.

To this effect, the two parties have recently signed a partnership agreement at the RTA Head Office in Dubai. Accordingly, ADCB credit card holders can have their fines, RTA seasonal parking fees paid in instalments in a flexible and a smooth manner.

Yousef Al Reda, CEO of RTA’s Corporate [...]

Read More
May 4, 2017

Emirates NBD launches ‘Cheque Chain’ to integrate blockchain technology into cheques

Emirates NBD, a leading banking group in the region, announced the launch of ‘Cheque Chain,’ an initiative that will integrate blockchain technology into cheques to strengthen their authenticity and minimise potential fraud. Emirates NBD plans to introduce the Cheque Chain initiative to its employees during the pilot phase, ahead of the customer roll later this year.

The first phase of the initiative will see the printing of a unique QR (Quick Response) code on every leaf of the newly issued cheque books, thereby reducing fraud by making it difficult to forge cheques. In subsequent phases, the QR code will register each cheque on the bank’s blockchain platform, ensuring that [...]

Interview and Opinion
UAE Insights
big banner