When the economic wheels fall off, thats when this kind of thing comes out of the woodwork in banking.  This is the second one in Japan recently, and in the US, we have seen Madoff, and Stanford. Aozora Bank Raided For Suspected Insider Trading TOKYO (Nikkei)–The Securities and Exchange Surveillance Commission on Thursday raided the main office of Aozora Bank (8304) in Tokyo’s Chiyoda Ward on suspicion that an employee of the bank traded shares using inside information obtained at work. あおぞら銀本店を強制調査 融資審査情報を悪用して株のインサイダー取引をした疑いがあるとして、証券取引等監視委員会は４日、金融商品取引法違反の疑いであおぞら銀行の男性行員 を任意で聴取、東京都千代田区の本店を強制調査した。今後の調査で容疑が固まれば、捜査当局に行員を告発する。関係者によると、聴取を受けたのは、融資審 査部門に所属する４０代後半の男性行員。利得額は、数年間で一千数百万円に上るとみられる。 Researched by Nobuyo Henderson Continue reading Bad economy, more insider trading & fraud

I just noticed this ad on netbanker.  Wow. This summarises something that has frustrated me for several years.  Picture a situation where you have (relatively) perfect information about a customer, and what they might need and want.  Supplement this with what they actually have with you, and what you can safely predict what they have with others, and you have the ultimate marketing opportunity. Continue reading The ultimate marketing opportunity, right under your banks nose

While short on specifics the message from Tim Geithner has enough clarity to indicate his direction.  The banks will have their assets revalued to market value, which means appropriate and sizeable write downs of assets.  This is a requirement in my view before confidence in banks will return.  Banks and in particular US and UK banks are over extended and to use an old word  ‘overtrading’.  They are producing far too much revenue on far too little a capital base. US rescue plan will need state to dig deep | ft.com When crises have hit other countries, US policymakers have … Continue reading US government signals significant control to be taken over banks

A couple of interesting things from this new PEW report. The pervasiveness of online usage – only over 69 is there less than 50% usage online – refer below Gen Y is doing more and more banking online moving from 38% to 57% – older folks use internet for information, health and purchases. Generations Online in 2009 | PEW Contrary to the image of Generation Y as the “Net Generation,” internet users in their 20s do not dominate every aspect of online life. Generation X is the most likely group to bank, shop, and look for health information online. Boomers … Continue reading Generations online 2009 and their usage patterns | PEW