HDFC Bank has been one of the leading private banks operating in India since 1995. By the end of 2008, over 75% of HDFC customers used electronic channels to transact, and the technology had certain limitation in terms of its effectiveness of communication. A large number of customers using electronic channels prompted the bank to adopt better and newer technology. This was aimed not only at giving a new look and feel to the way customers communicated but also at helping in cross-selling and offering customized campaigns.
Time is of the essence for mainframe operators in the banking, credit, and data processing industries. Much of their processing is time sensitive and a big portion of it is done in the off-hours, either at night or on weekends. In the mainframe world, this period of time is known as "the batch window." Because online systems are frequently dependent on the completion of the batch window before they can be ready for customer transactions, it is vital to keep batch processing times within this window. Thus, the impact on an application's batch processing time is a major consideration when adding new functionality, introducing new products, updating customer or product accounts, creating new reports, and meeting new financial requirements.
Next to money, customer data is the lifeblood of a financial institution. Unfortunately, a financial institutionís data is at its most vulnerable state when its doors close for the night or when extenuating circumstances prevent it from doing business. However, customers expect the ability to access their account information when they need it, regardless of the time of day or circumstances surrounding them. And, government regulations are forcing financial institutions to be more vigilant about the customer data they store on a network. In order to ensure that customer data is secure and accessible no matter the situation, business continuity solutions have quickly become an essential element of a financial institutionís IT strategy.
The financial crisis in 2008 led to a significant increase in awareness of, and concern about, risk management. Despite millions of dollars invested in risk systems over the last two decades, failures in risk management were common throughout the financial world. As a wave of books, articles and official reports have shown, many of the most significant failures in risk management were located in executive decisions such as using high leverage, making large investments in real estate and mortgage companies at the marketís peak and gaming financial reports with off-balance-sheet vehicles.
TUI Travel PLC is a diversiﬁed international travel group that operates in around 180 countries and serves more than 30 million customers, drawn from over 27 countries. Our group encompasses a variety of business lines including travel agencies, tour operators, cruise ships and even a pan-European airline consisting of 146 aircraft. As such, our everyday business activities create major operational complexities associated with cash management, not to mention signiﬁcant currency and commodity (jet-fuel) exposures. Therefore, one of the key responsibilities for Treasury is to manage these risks effectivelyóin order to safeguard TUI Travelís ﬁnancial performance.
There isnít a single bank or credit union in the world that wants to spend money for something and get nothing in return. That being said, is there a positive return (ROI) to be had on Customer Relationship Management (CRM)? If your CRM goals, implementation, training and measurement are alignedÖthen all the promised benefits of CRM are real. So, how do you do CRM the right way? There are 10 keys to know and to master.
Wells Faro Foothill is a commercial finance company headquarters in Santa Monica, California. The company develops individualized loan structures for a variety of businesses, based on equity such as accounts receivable assets, real estate holdings, recurring revenues, and other non-traditional collateral forms. Wells Fargo Foothill uses ACL audit analytics technology to standardize customer files and conduct comprehensive, scheduled testing on all borrower data. Using ACL software, Wells Fargo Foothill has shortened audit times, eliminated issues related to data compatibility, and significantly reduced its lending risks in a highly competitive financial services industry.
Web 2.0 technologies have transformed the Web into an extremely viable and increasingly popular platform for business communications. At the same time, however, associated rich applications featuring real-time interac- tion and supporting user-generated content have also elevated its potential as a conduit for sensitive information and made the Web a highly attractive target/vehicle for hackers.
Mobile Channel Addresses Offline Consumersí Needs for Frequent Transactions While Reducing Bank Channel Costs. In the face of turbulent economic conditions and significant cost pressures, U.S. financial institutions, like many of their counterparts around the world, are focusing on improving the profitability of their customer relationships, lowering channel costs and enabling more self-service electronic banking.