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Awards Season Is Here May 2015 Issue 713 www.retailbankerinternational.com AWARDS SEASON IS HERE THE 30TH RBI AWARDS IN LONDON AND THE 7TH ASIA TRAILBLAZERS SUMMIT ● DIGITAL: MOBILE WALLETS ● DISTRIBUTION: BRANCHES ● REPORT: WORLD RETAIL BANKING 2015 ● FEATURE: SWIFT RBI 713 May.indd 1 12/05/2015 10:31:03 7743 POSB EverydayCard RBIATA A4 ad FA.ai 1 16 / 3/15 5:13 pm Neighbours first, bankers second Every day, deals just get better. Up to cash rebates It’s also your all-in-one card: every day with the POSB Everyday Card Credit Card at Watsons, AirAsia, Sheng Siong, SPC ATM Card 6% and more. EZ-Link Card Visit www.posb.com.sg/everydaycard for more details. “Best Credit Card 6 years in a row!” POSB Biz. Reg. No. 52880148A Mar 2015 Untitled-6 1 12/05/2015 11:57 Retail Banker International COMMENT: EDITOR’S LETTER CONTENTS 2 PREVIEW: RBI AWARDS With the 30th Annual RBI Awards on the horizon, Patrick Brusnahan examines Branch closures accelerate previous winners and those to look out for this year in local UK communities 4 DIGITAL BANKING CLUB: ADVISORY PANEL Which digital issues are affecting the retail banking sector today? Douglas Blakey speaks to a panel of retail little over five years ago, the seaside That is that for another five years banking experts to see what is needed town of Westcliff-on-Sea boasted The UK banking sector will welcome the to stick out in this ever-technological world a Halifax, Barclays, NatWest and political certainty of the general election HSBC bank branch. result. Notwithstanding every opinion poll 8 COMMENT: STEFFAN AQUARONE A Halifax was the first to shutter its branch, for over a month ahead of the poll forecast- Steffan Aquarone considers the soon followed by Barclays and then last ing a hung parliament, the final result was reaction of banking following the wave of technological and non-bank year, NatWest leaving HSBC as the last bank decisive. competitors in the sector. Are they branch in the community. The clear cut if unexpected nature of the doing enough or do they risk being swept under? Until early May that is: HSBC has now Conservative victory removed fears about an axed its Westcliff outlet resulting in the early second election. 9 DIGITAL: MOBILE WALLETS natives of Westcliff having a two mile trip to Cameron’s victory also removed the peril Visa expects that by 2020, 50% of neighbouring Southend if they wish to visit of a Labour victory leading to even more all transactions will be via mobile. Is this realistic? Patrick Brusnahan a branch. penal bank levies. speaks to Visa Europe to try and find According to figures from the Campaign The appointment of former Deutsche out the reasons for this overwhelming prediction for Community Banking Services, banks in Bank director Sajid Javid as Business Secre- the United Kingdom more than doubled the tary will also be warmly welcomed by the 10 DISTRIBUTION: UOB rate of closures in 2014 to 479; 210 outlets banking sector. Once again, UK-headquartered company closed in the first quarter of 2015 along of He has, in the past, opposed strongly the allen international have dipped their toes into the world of bank branch which 55 were the ‘last branch in the com- concept of a renewed bonus tax and has design, this time with United Overseas munity’. urged politicians not to slam the City, say- Bank. Anna Milne investigates By coincidence, the closure of the last ing that it represented some of the best of 12 FEATURE: SWIFT branch in Westcliff coincided with the open- capitalism. Real-time payments are capturing the ing of Metro Bank’s first store in Southend. On a less positive note, the new govern- zeitgeist of the financial sector at the Metro Bank has now opened more than ment’s plans for an EU referendum introduce moment. Anna Milne speaks with Carlo Palmer from SWIFT to see what makes 500,000 accounts since launch in 2010 and some unwelcome uncertainty into the politi- them tick and what is holding them back has enjoyed a 56% increase in customer cal equation. It is important that the PM pro- 14 AWARDS: ASIA TRAILBLAZERS numbers in the past year. vides some certainty about the planned time- The annual Asia Trailblazer awards are Deposits grew by 18% in the first quar- table for the referendum as soon as possible. back with some very interesting insights ter to £3.4bn. Additionally, lending grew Another negative, at least for this writer, into the Asia region and how it differs by 12.5% compared to the prior quarter to was the extent of the Scottish Nationalists from the rest of the world. Sruti Rao reports £1.8bn. landslide in taking 56 of the 59 Scottish It seems a safeish forecast to say that seats. 16 REPORT: WORLD RETAIL BANKING 2015 Metro Bank can expect to perform strongly Any move towards another referendum on Patrick Brusnahan looks into the latest World Retail Banking Report, by in South Essex; all eyes will turn next year Scots independence - less than a year after Capgemini and Efma, to investigate why to two key tests. An IPO is expected to raise the proposal was defeated 55% to 45% - consumers are so dissatisfied with their banks and why so many are ready to £300m for Metro Bank and value the lender will do the banking sector north of the bor- make a change at £1bn; that also looks a safe bet. der no favours at all. The bigger test will be Metro Bank’s aim 20 COMMENT: HOWARD BERG to meet its timetable for profitability. Douglas Blakey Howard Berg from Gemalto examines the growing influence technology is [email protected] having on the financial sector. Are banks coping well? Or do they need to do more? www.retailbankerinternational.com May 2015 y 1 RBI 713 May.indd 1 12/05/2015 10:31:08 PREVIEW: RBI AWARDS Retail Banker International High standards at the 30th RBI Awards The RBI Awards, once again sponsored by Fiserv, is now in its 30th year and remains a benchmark for excellence in the industry. Highlighting the best retail banking has to offer worldwide, the winners are selected by an expert panel. Patrick Brusnahan examines this year’s shortlist and last year’s winners ast year, the Global Retail Bank of the With the emergence of new challenger esco also released an F.Banking application Year was picked up by Royal Bank of banks, as well as Internet and technology on which enables customers to access their Canada, once again shortlisted this companies entering the fold, the market is account through Facebook. Since launch, it year, alongside another Canada-head- accelerating at a rapid rate. This makes the has had over one million people utilising the L European Retail Bank of the Year award one quartered bank, Scotiabank. The full short- platform. list for Global Retail Bank of the Year is: of the most exciting to judge. Nominees this Santander, which landed at 10th on RBI’s year include: Facebook Top 100, has been active in the • Barclays digital marketing and social media fields • Royal Bank of Canada • Alior Bank for quite some time. The bank incorporates • Santander • Barclays sponsorship deals with sports ambassadors • Scotiabank • KBC Bank to put a face on its content and generate • CaixaBank greater interest. This all surrounds its fre- Royal Bank of Canada (RBC) is no stran- • Santander quent content which aims to not only engage ger to award shortlists and their addition, as their consumer base, but inform them on well as Scotiabank’s, show the powerhouse Alior Bank, the winner last year, has been general financial practices, such as saving to that Canada is becoming for the retail bank- nominated again this year and seems to buy a house or student finance. ing sector. be attracting offers from across the globe, ICICI, 9th on RBI’s table, launched Pock- RBC had another record breaking year in which is remarkable for a bank so early into ets this year, a digital banking service which 2014 with profit increasing by 8% year-on- its lifespan. Santander is also making its sec- allows users to send or request money to any year (YOY) to reach C$9bn ($7.4bn). The ond shortlist appearance in a row. email, mobile number or friend on Facebook. bank also acquired City National in its big- Barclays’ Personal and Corporate bank- This can be utilised by consumers who are gest ever deal. ing unit posted a pre-tax profit of £2.88bn not customers of ICICI as well. In addition, Scotiabank’s profit for its ($4.39bn) in 2014, a 29% rise YOY. While digital is currently receiving all the fiscal year ending October 31st 2014 was Santander saw similar results in the first headlines, one should not forget the impor- $7.3bn, 10% more than the year prior. This quarter of 2015 as their profits spiked 32% tance of branches. The Best Branch Strategy is bolstered by the bank’s moves into Latin YOY to hit €1.72bn ($1.95bn). aims to highlight those keeping on a focus America with the acquisition of Citibank’s CaixaBank has been making huge moves on this side of distribution. With increas- retail operations in Peru with more possibly in the European markets with bids for ing pressures on profit margins, there has to come. Barclays’ Spanish retail operations and Por- been an increasing focus on downsizing and One of the hardest categories to judge tugal’s Banco BPI. consolidation, but we’ve picked banks that is the award for Retail Banker of the Year.
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