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Marketeye: June 1 - 15 2007

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Marketeye: June 1 - 15 2007 Savantor MarketEye: June 1 - 15 2007 Savantor Limited 68 Lombard St London EC3V 9LJ This is a confidential, high-level industry news and business intelligence Tel: 0870 734 6250 Fax: 0870 734 6251 update bulletin. For further information on any of the items contained email: [email protected] within the bulletin or to discuss the potential impact of these items on www.savantor.com your business, please contact Savantor on our dedicated support centre e-mail address ([email protected]). Click on the Savantor links below for more information about us and our opinions: Articles Press releases How we work Resource fulfilment Items in this issue: IBM and Banco Sabadell form Web 2.0 agreement ......... 3 Savantor’s Views.....................................................1 Chinese debit card market opens up................................ 4 Products and Initiatives..........................................2 Handelsbanken introduces card personalisation service ABN Amro adds anti-skimming device to ATMs .............. 2 in Sweden......................................................................... 2 Lloyds TSB fights insider fraud threat .............................. 2 Channel management big challenge for banks ................ 4 Barclaycard signs first retail partner to contactless Banks warned on IT security ............................................ 4 technology........................................................................ 2 Thales secures UK faster payments network................... 5 Nordea to roll out Todos card readers to e-banking Outsourcing, Acquisitions and Deals....................5 customers......................................................................... 2 First Data renews processing contract with Dresdner A&L lures younger customers to m-banking with £10 Bank ................................................................................. 5 sweetener......................................................................... 3 Welcome management team MBO .................................. 5 Lloyds TSB sends out SMS to mortgage applicants........ 3 ABN Amro deal................................................................. 5 Market News and Views..........................................3 ABN Amro wins auction to acquire Taiwanese lender ..... 5 APACS marks 20 years of the debit card ........................ 3 Savantor’s Views In the UK we know contactless is coming soon to a store near you - as long as you’re in certain parts of London – but there will be a few obstacles to overcome before it gains a real foothold in the UK market. A cost analysis of 32 British Retail Consortium retailers has shown that contactless is 8 – 10 times more expensive than cash. National retail chain Boots calculates the cost of processing a contactless payment of up to £10 is 4p plus the acquirer fee compared with 0.5p for processing a cash payment under £10. Boots say 79% of customers pay cash for their purchases which average £6. Processing costs apart there are other problems to overcome in the battle to get rid of cash: • retailers like Boots use a separate loyalty card which doesn’t fit well with the contactless model based on speed of throughput. • there is £3.5bn in cash stashed away in homes in the UK. A poll for Virgin Money found that 1 in 6 of us keeps cash at home rather than invest it somewhere. 6% say they are doing this to hide money from partners, 4% because they don’t trust banks and 1% to avoid tax. • over the last ten years the total number of cash machine withdrawals has grown from 1.6 billion in 1996 to 2.8 billion last year, with the amount of cash dispensed more than doubling from £80 billion to £180 billion • other card-based cash withdrawals (such as through debit card cashback and counter transactions) have also grown over the decade, meeting 12 per cent of personal cash needs in 2006 (compared to just 8 per cent in 1996) • research by Money Expert shows that average annual percentage rates on credit card cash withdrawals has risen from 21.27% to 23.48% since November 2006. If a cardholder takes out £100 and does not repay for a year they can be charges anything from £8.10 by Co-op to £48.69 by Vanquis Chip and PIN introduction has increased the amounts being withdrawn by credit cards as prior to this many cardholders did not know their Credit Card RegisteredPIN. in NowEngland No. around 3420260 £750m Registered office: 8/10 South Street, Epsom, Surrey KT18 7PF VAT Registered No. 689136196 Whilst Savantor Limited (“Savantor”) has used reasonable efforts to obtain information from sources which it believes to be reliable it does not make any representations or give any warranties or guarantees that the information provided or any opinions expressed herein are accurate, reliable or complete and none should be relied upon as statements of fact. In no event, including (without limitation) negligence, and in no circumstances will Savantor be liable for any loss or damage of any kind whatsoever, including (without limitation) any direct, special indirect or consequential damages, caused by the use of or reliance upon information provided or opinions expressed herein. Savantor · Confidential 1 Savantor MarketEye: June 1 - 15 2007 is withdrawn from ATMs each month using credit cards. So to reduce the amount of cash in circulation we need to convince cardholders that contactless is the way to pay to reduce the cash withdrawals, sort out the cost of contactless processing to attract more retailers, and find a way of tempting cardholders away from storing cash in a biscuit tin. Prepaid contactless looks like a good bet. Products and Initiatives ABN Amro adds anti-skimming device to ATMs ABN Amro is attaching anti-skimming devices to its 1200 outdoor cash machines across the Netherlands. The bank says that its cash machines have recently been targeted by card skimmers and as well as rolling out the anti-skimming devices ABN Amro says new safety instructions have been added on cash machines for customers. The bank also chose to act due to uncertainty over when mag- stripe cards will finally be made redundant in Europe in order to offset the negative publicity the crime generates, which damages consumer confidence in using ATMs. (Source date: 6th June, 2007) Lloyds TSB fights insider fraud threat Lloyds TSB is installing technology at its retail banking division to help detect and prevent potential fraud committed by employees. The bank will use Actimize's new Employee Fraud prevention software to provide the analytic infrastructure and tools to monitor transactions and automate fraud detection. The system examines multiple data sources across the enterprise and mines data for suspicious patterns, and the application's analytics - such as fraud correlation - can detect complex fraud scenarios including employee collaboration with other internal and external parties. Last year the Financial Services Authority (FSA) warned that "insider fraud" - through collusion, coercion, infiltration or existing employee action - was one of the most serious fraud threats faced by banks. The watchdog has also repeatedly warned the industry that organised gangs of criminals are infiltrating British banks in order to carry out large-scale frauds. (Source date: 6th June, 2007) Barclaycard signs first retail partner to contactless technology Barclaycard Business has announced Chop'd, the London gourmet take-out salad bar, as the first retail partner to sign up for an in-store contactless payment solution. The agreement is an industry-first and will see the retailer adopt the new technology this autumn in all three of its central London outlets with the intention to roll out additional contactless terminals in further outlets due to open later this year. The new contactless technology, delivered by Barclaycard Business, will allow cardholders to pay for low value transactions by waving their card over a contactless reader and for the retailer, with about 95 per cent of all Chop'd transactions totalling less than £10, benefits will include: • Faster transactions • No need for PIN or signature - • No customer till receipts - • Secure transactions using the same reliable and secure payment network as chip and PIN • Potential increased transaction value and repeat custom. (Source date: 7th June, 2007) Nordea to roll out Todos card readers to e-banking customers Nordea has contracted with Swedish security vendor Todos Data System for the supply of over a million portable smart card readers which will be rolled out to its Internet banking customers. The Scandinavian bank will begin distributing the remote authentication tools to customers in Sweden in September. The devices generate one time passwords that can be used for accessing online banking accounts as well as for verifying online payments. Bank customers can connect the reader to a PC or use it as a wireless device. (Source date: 8th June, 2007) Handelsbanken introduces card personalisation service in Sweden Handelsbanken is the first bank in Sweden to offer its customers the opportunity to choose their own image on their payment and credit cards. The service launched on 12 June for the Allkort MasterCard SavantorSavantor Ltd. · Confidential Confidential Page 2 2 Savantor MarketEye: June 1 - 15 2007 and Allkort Visa cards. The card-holder can choose one of their own digital photos, or an image from Handelsbanken's picture gallery. Customers can select or change the images simply via the Bank's online service. During the autumn, the Bank will also launch customised
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