Former IF chief Spowart targets IFAs with Adventi


finextra news: Former IF chief Spowart targets IFAs with Adventi

12 March 2004 – Jim Spowart, a key player in the rise of direct banks Intelligent Finance (IF), Standard Life Bank and Direct Line, has joined small Scottish IT support firm Adventi as director of business strategy and invested a six-figure sum in the business.

Spowart, who stepped down as chief executive of IF last year, had been expected to return to financial services with a new play on the direct banking model.
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Alliance & Leicester adopts direct bank model as customers warm to self-service


finextra news: Alliance & Leicester adopts direct bank model as customers warm to self-service

20 February 2004 – UK bank Alliance & Leicester is redefining itself as a “direct bank with a high street presence”, amid growing evidence that customers are becoming even more confident in using technology to process their financial transactions.
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RBC Royal Bank boosts availability of online banking


IBM case study on Royal Bank of Canada

On July 28, 1972, during the dawn of electronic banking, headlines in Toronto newspapers read: “Tomorrow morning at 9 a.m. the Royal Bank will open and never close again.” The story referred to the launching of RBC Royal Bank’s automated teller machine (ATM) network. With ATMs, call centers and now Internet banking, customers have had more than 30 years to grow accustomed to electronic banking. They depend on 24×7 availability, and RBC Royal Bank strives to ensure that its systems meet its customers’ demands.

With more than 12 million customers, 2.1 million online customers and approximately 58,000 employees around the globe, Toronto-based RBC Royal Bank is determined to maximize the availability of its Internet banking Web site by all means necessary. RBC Royal Bank has offered Internet banking since 1995 and has been using IBM WebSphere MQ for almost as long to integrate its core banking systems with its Web-based front ends. RBC Royal Bank counts on the reliability of WebSphere MQ message delivery to ensure completed transactions and high Web-site availability.
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Banking Embraces the Information Age


allAfrica.com: South Africa: Banking Embraces the Information Age

Johannesburg)
January 22, 2004
Posted to the web January 22, 2004
Warwick Ashford
Johannesburg
A new banking concept centred on providing information to enable financial decisions has been launched by First National Bank (FNB) to meet the needs of information age customers.
FNB unveiled its “designer banking” concept at a multimedia event showcasing local musical, dancing and fashion design talent in Johannesburg last night. The concept is set for national roll-out to the bank’s branches early next month.
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FTC Releases Top 10 Consumer Complaint Categories in 2003


FTC Releases Top 10 Consumer Complaint Categories in 2003

Federal Trade Commission
for the consumer

Identity Theft Complaints Continue to Top List; Internet Related Fraud Complaints Soar
The Federal Trade Commission has released its annual report detailing consumer complaints about identity theft and listing the top 10 fraud complaint categories reported by consumers in 2003. For the fourth year in a row, identity theft topped the list, accounting for 42 percent of the complaints lodged in the FTC’s Consumer Sentinel database. The FTC received more than half a million complaints in 2003, up from 404,000 in 2002, and Internet-related complaints accounted for 55 percent of all fraud reports, up from 45 percent in 2002.
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Consumer Ministers Advance Initiatives to Protect Consumers in a Marketplace Without Borders


Consumer Ministers Advance Initiatives to Protect Consumers in a Marketplace Without Borders

WINNIPEG, Manitoba, January 16, 2004 — Federal, provincial and territorial ministers responsible for consumer affairs met today in Winnipeg to deal with consumer protection issues associated with a rapidly changing and increasingly open marketplace. The meeting was co-chaired by the Honourable Lucienne Robillard, Minister of Industry and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec, and the Honourable Gregory Selinger, Manitoba Minister of Finance. The ministers announced agreement on a series of cooperative initiatives to promote consumer protection in the following areas: electronic commerce, identity theft, credit card chargebacks, interjurisdictional transactions, short-term credit markets, and the launch of new consumer information products.
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Scottish banks at risk from terror scam


Scotsman.com News – Top Stories – Scottish banks at risk from terror scam

TANYA THOMPSON
HOME AFFAIRS CORRESPONDENT

Key points
• Companies under daily threat of “electronic terrorism”
• Every bank “has account linked to terror”
• Scotland at particular risk because of security levels

Story in full AL-QAEDA is targeting blue-chip companies in Scotland as part of an audacious attempt to defraud the financial sector of millions of pounds, police officers have warned.
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