bank

Biswabrata Chakravorty, CIO, IndusInd Bank, pioneers innovative video, gesture banking

In conversation with ETCIO, Biswabrata Chakravorty, CIO, IndusInd bank shares how innovative and cutting-edge modes of banking such as video, gesture, and Whatsapp are all adding to customer experience.




bank

Covid-19 Heroes Beyond Borders: How being a digital-only bank helps in a pandemic

TONIK Financial, Asean’s first licensed digital-only bank, is leveraging cloud to mitigate the risks of Covid-19.




bank

How DBS Bank India impacts various aspects of banking through technology

DBS Bank is leveraging technology to reduce man hours, enhance the customer journey, automate processes and open new revenue streams.




bank

ML finds use cases at IDBI Bank

Inderpal Singh Kalra, ED-IT and Digital Banking & Emerging Payments at IDBI Bank throws light on three crucial solutions that leverage ML to manage risk.




bank

Banking analytics trends to look in 2020

The future challenge is to develop analytic strengths that span the organisation and not just areas of expertise.




bank

How RBL Bank is using tech to create new revenue streams

RBL Bank’s focus on machine learning is helping it create new revenue streams that has already led to the creation of its first tech-based product--API Banking.




bank

Forest rehabilitation: benefits for carbon and biodiversity banking

According to researchers, opportunities for carbon sequestration and benefits for biodiversity offered by forest rehabilitation schemes mean they should be given greater value as a tool for carbon offsetting. A new study demonstrates the value of forest rehabilitation for rainforest birds.




bank

Are threatened European plant species conserved in seed banks?

A new European study has assessed whether seed banks are successfully conserving European plant species threatened by extinction. The findings indicate that threatened species are only partly conserved by seed banks, and that these facilities need to focus their future efforts on filling gaps in their collections.




bank

Crop wild relatives ‘critically under-represented’ in gene banks

Wild plants closely related to crops, or ‘crop wild relatives’, contain genes that could be useful for developing resilient crop varieties and are, therefore, important for food security. This global study quantified their conservation status and availability for breeding. The researchers found major gaps in gene-bank stocks, with over 70% of crop wild relative species identified as ‘high priority’ for conservation action. The researchers say systematic efforts are needed to protect crop wild relatives for future plant breeding, including both protection in gene banks and local conservation.




bank

The German environmental specimen bank – a blueprint for EU chemicals management?

Environmental specimen banks (ESBs) first emerged in the 1960s and are now essential to environmental management across the globe. ESBs sample and archive environmental specimens and can be used to identify the distributions of chemicals within ecosystems and trace their exposure over time. This study uses the German ESB to illustrate their potential for chemicals monitoring in the EU.




bank

No need to travel as Southbank Sinfonia recruits artists around the world using a Cisco TelePresence solution from BT

Every year some of the world’s best young musicians would jet into London to audition for a bursary with the Southbank Sinfonia. Simon Over wanted to cut down on those thousands of air miles and hours in transit. He also didn’t want to miss out on youngsters who couldn’t afford the fare.




bank

Governor Abbott, TDEM Apply For FEMA Assistance Funds To Support Texas Food Banks




bank

Visit Wales. Later: People urged to avoid all non-essential travel ahead of the bank holiday

PEOPLE in Wales are being asked to act responsibly and to avoid unnecessary travel until coronavirus restrictions have been lifted by the Welsh Government.






bank

Oil Lenders Might Hit the Brakes on Bankruptcies

Some creditors of bankrupt energy drillers may want to freeze their court fights awhile.




bank

Whiting's Bankruptcy Cuts $2.3B of Debt

The Denver-based company agreed to give a 97 percent stake in the reorganized company to its noteholders.




bank

Foreclosed but not forgotten: Green renovation firm revamps bank-owned properties

Community-focused eco-renovation firm Green Canopy Homes teams up with GMAC Mortgage to breathe new, green life into neglected, bank-owned properties across Sea



  • Remodeling & Design

bank

If you avoid junk food, doesn't it make sense that food banks would, too?

As the season of giving approaches, support your local food bank's commitment to give less junk food and donate only nutritious food.




bank

What is time banking?

Use time, instead of money, to get what you need.




bank

Banksy's new eco-themed mural

Famous graffiti artist Banksy creates a mural that sinks in global warming denial.



  • Arts & Culture

bank

iLumi: Bluetooth-enabled bulb seeks bank

Firm in the belief that light should help you <i>live</i> in addition to see, two young eco-entrepreneurs have created a family of super-brainy, Bluetooth-enabl




bank

Boy raids piggy bank, starts petition to save NASA

Six-year-old Connor Johnson has big dreams for the future, and he needs our help to keep them alive.




bank

Harvest Dome 2.0 to be moored along the fetid banks of the Gowanus

A giant floating sphere built from discarded umbrellas will next set sail on one of the country's most notorious Superfund sites: The Gowanus Canal.



  • Arts & Culture

bank

Fisker misses $10M payment, is bankruptcy imminent?

Luxury automaker Fisker has officially missed a $10 million payment to the Department of Energy. Is a bankruptcy filing next?




bank

Plastic Bank: How to solve the plastic pollution problem and poverty at the same time

We all know there's too much plastic making its way into the environment; here's an innovative solution to a seemingly intractable problem.




bank

Why more boomers are going bankrupt

It's not just medical expenses; the entire social safety net is in tatters — and boomers are experiencing it first-hand.




bank

Why food banks are so overwhelmed right now

With fewer people working and more people in need, food banks are struggling during the COVID-19 pandemic.



  • Fitness & Well-Being

bank

By Miles receives FCA ‘open banking’ licence

InsurTech will be able to access the financial data of consenting customers.




bank

Arron Banks and Elizabeth Bilney agree settlement with Electoral Commission

Commission states it accepts the National Crime Agency’s conclusions that it found no evidence that any criminal offences had been committed after it investigated loans totalling £8m provided to the Leave.EU campaign from one of Banks' other companies.




bank

Clickbank Super Affiliates Toolbox

Clickbank Super Affiliates Toolbox Helps You Jolt Your Clickbank Commissions And Sales In Record Speed... Using Over-Used, Yet Highly-Powerful Tactics That Work!




bank

Maintaining profitability important in big banks’ interest rate cut decisions

27 April 2020

Maintaining profits was a major consideration for the big four banks as they weighed whether to reduce mortgage rates in line with Reserve Bank of Australia cash rate cuts during 2019, the ACCC has found.

The ACCC’s Home Loan Price Inquiry interim report, released today, shows that the big four banks considered various factors as they decided whether to pass on the RBA’s June, July and October 2019 rate cuts. But recovering profits was central to their decisions to not always fully pass through the lower rates to mortgage customers.

“The banks were attempting to shore up their profitability during a period of low interest rates,” ACCC Chair Rod Sims said.

“It was their strong preference, after the RBA’s cuts, not to further reduce the rates customers were earning on some deposit products as they approached zero per cent.”

“The banks’ reluctance to cut these deposit rates led them to anticipate lower profits, which they aimed to recover by not always fully passing through cash rate cuts to their mortgage customers,” Mr Sims said.

The ACCC’s analysis also found that the big four banks benefitted from a sustained decrease in their funding costs during much of 2019. While headline rates for owner-occupier home loans with principal and interest repayments fell overall during 2018 and 2019, the banks’ funding costs fell even more over the same period.

“We recognise that much has changed in the economic and funding environment since last year. The COVID-19 pandemic has shifted priorities and the banks are playing an important role in supporting the economy,” Mr Sims said.

“However, the inquiry findings shed an important light on bank decision making and raise questions about whether the banks could, at the time, have passed on a higher proportion of those RBA cash rate cuts to their mortgage customers.”

The ACCC’s Home Loan Price Inquiry interim report also shows that although average interest rates charged by the big four banks on home loans fell during 2019, a lack of price transparency and higher interest rates for existing loans continued to cost customers.

The interim report examines home loan prices charged by the big four banks between 1 January 2019 and 31 October 2019. It found that home loan pricing practices continue to make it difficult for consumers to compare different mortgage products.

Headline rates did not accurately reflect the price most big four bank customers actually paid for their home loans, because the overwhelming majority of customers received discounts, including opaque discretionary discounts.

“Given the economic disruption, uncertainty and job losses stemming from the COVID-19 pandemic, many consumers may not be inclined to shop around and ask for discounts from their banks right now,” Mr Sims said.

“However, our analysis shows how that even a small further reduction in interest rates could potentially save thousands of dollars over the life of a mortgage. Consumers should consider this carefully when it is time to re-engage with their lender.”

For example, a customer with an average-sized new, owner-occupier, principal and interest mortgage of $386,000 could save about $5000 on interest payments in the first year if they went from having no discount to receiving the big four banks’ average discount of 128 basis points.

At the end of September, customers with new owner-occupier loans with principal and interest repayments were paying, on average, 26 basis points less than customers with existing loans. The difference was usually even more significant for customers with older loans.

The ACCC’s final report, scheduled for release later this year, will consider barriers to consumers switching to alternative home loan suppliers.

Further information at Home loan price inquiry

Background

On 14 October 2019, the Treasurer, the Hon. Josh Frydenberg MP, issued a direction to the ACCC to conduct an inquiry into the market for the supply of home loans. The specific matters the ACCC was directed to take into account included:

  • prices charged for home loans since 1 January 2019, including:
    • the difference between advertised interest rates and interest rates paid by customers
    • the difference between interest rates paid by new and existing customers
    • home loan suppliers’ pricing decisions following changes in the RBA’s target for the cash rate, including the extent to which changes were due to suppliers’ cost of funds and the timing of the suppliers’ announcements
  • impediments to consumers refinancing to alternative home loan suppliers.

The interim report focuses on the first issue regarding the prices charged for home loans between 1 January 2019 and 31 October 2019 by the big four banks, which account for close to 80 per cent (by value) of home loans held by authorised deposit-taking institutions in Australia. The final report will consider the second issue, impediments to consumer switching.

The big four banks are Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank, and Westpac Banking Corporation.

In preparing the interim report, the ACCC used its compulsory information gathering powers to obtain information and documents from the big four banks, and supplemented its analysis with data supplied by the RBA and the Australian Prudential Regulation Authority. 

The findings in the report reinforce and build on those in the ACCC’s earlier Residential Mortgage Price Inquiry.

Release number: 
84/20
ACCC Infocentre: 

Use this form to make a general enquiry.

Media enquiries: 
Media team - 1300 138 917
Audience




bank

What do you do when you own bonds or stocks issued by a bankrupt company?

Ok so you own securities in a bankrupt company. If they’re stock, you’re probably going to be wiped out. If you own bonds, you are a creditor in the bankruptcy proceedings. Depending on how the proceedings go, you may get shares or bonds in the company. Or you may get cash as the company sells […]

The post What do you do when you own bonds or stocks issued by a bankrupt company? appeared first on RSS News Feed.




bank

Red Bank Dentistry Welcomes New Dentist to the Practice

Dr. Pauline Robinson, DDS Joins Red Bank Dentistry




bank

Jibun Bank wins the prestigious Most Innovative Retail Banking Services, Japan 2019 with International Business Magazine

Jibun Bank is constantly endeavoring to mature sufficiently into a financial establishment with highest customer satisfaction.




bank

Lexington Bankruptcy Law Firm Urges Debtors to Spend Tax Refunds on a Fresh Start

Bunch &amp; Brock, Attorneys at Law, encourages individuals with financial difficulties to improve their financial situation by using their tax refund to file for bankruptcy.




bank

Ohio Bankruptcy Firm Prioritizes Affordability for Clients

Attorneys at Fesenmyer Cousino Weinzimmer said that expensive legal fees shouldn't be an obstacle for someone struggling with overwhelming debt.




bank

MIPOW Launches Breakthrough Power Bank X2 the 1st Dual Charging Power Charger for Both Qi Wireless &amp; Apple Certified Devices

When a person has multiple devices, this has made the inconvenient need to carry more-than-one charger. The MIPOW Power Bank X2 answers being the first power charger for both Apple &amp; Qi Wireless devices.




bank

US Secretary of the Navy Honorable Richard V. Spencer Visits Fairbanks Morse's Beloit Facility

Secretary recognizes the significant impact Fairbanks Morse workforce has on the US Navy




bank

Safe Call - ASF Sets New International Bank and Business Voice Command Telecom Standard

Distracted driving is the daily number one cause of accident harm and death! Does your business or 800 number encourage texting while driving with hazardous &amp; outdated telephone prompt text messaging requests? ASF petitions IEEE, ISO.




bank

Global Banking &amp; Finance Review® Award Winners 2019

Global Banking &amp; Finance Review announces the list of winners for its annual awards program 2019




bank

Award Winning Production Partners, Inc./Cowboy Records (Burbank) Releases New Single/Solo Artist, Travis "Randall" Hughes, Song "It's On Me" Distributed by CD Baby on June 21, 2019

Emmy Award Winning television company, Production Partners, Inc. and its new indie record label Cowboy Records, release new single, for singer/songwriter, Travis "Randall" Hughes, country folk song "It's On Me."




bank

Sylvan Franklin Celebrated for Dedication to the Field of Banking

Mr. Franklin retired from his positions with Herget National Bank after 40 years of professional experience




bank

Kassondra Lewis launches her new book "BANKRUPTCY DIDN'T BREAK ME: How to Learn the Keys to Success to increase your credit scores"

Book Becomes International Best Seller




bank

COVID-19 Bankrupts Christianity: In Response To Jesus' Words Of Warning, God's Punishment Fell Upon All Christians

John the apostle reports that Jesus' Words of Warning from Holy Week in 2019 came to pass during Lent in 2020 when COVID-19 bankrupted Christianity.




bank

Jonathan Leo Fairbanks Presented with the Albert Nelson Marquis Lifetime Achievement Award by Marquis Who's Who

Mr. Fairbanks has been endorsed by Marquis Who's Who as a leader in the field of visual art




bank

World Bank Event on Water Quality Testing to Review Everything You Wanted to Know About Managing Water Safety

Event will also outline practical, low cost water quality testing and treatment solutions that assist project managers and implementers in the field




bank

East Bank Communications Expands to Include Galluzzo Communications

Former Principal of Galluzzo Communications ushers in a new era of creative and strategic direction at one of Portland's longest-standing agencies.




bank

National Gallery of Art in Washington, DC, transfers ownership of Pablo Picasso's "Head of a Woman" to the heirs of Nazi Victim and Prominent Jewish Berlin Banker Paul von Mendelssohn-Bartholdy

The heirs of Nazi victim and Jewish Berlin banker Paul von Mendelssohn-Bartholdy announce that the National Gallery of Art in Washington, DC has transferred ownership to them of Pablo Picasso's Blue Period pastel entitled "Head of a Woman"




bank

Worried your bank will make you pay your delayed mortgage bills all at once? Here&#39;s what to do

Many homeowners struggling financially in the coronavirus pandemic worry mortgage servicers will require them to repay mortgage bills all at once.