Internet banking 'will get smarter' by Finance News Bulletin

Published: 08/12/07

As a number of charge and rate increases hits the credit card market, it is "more important than ever" that populace shop around for a good deal, according to WhichInternet shoppers have been advised to use their credit cards for online purchases by shopsafeco

ukInternet banking and online present accountservices will expand into personalised, tailored products as they grow in popularity, it has been claimedOnline banking is leaving to become more common across all age groups as younger generations produce into adulthood, according to HSBCThis will guide to "smart websites" that will adapt the content and armed forces they offer to engage on a personal basis with as many of their customers as possible, a spokesman said

Nick Staib, e-marketing boss at HSBC, said: "The next generation of Britain's old are already using the internet for banking"He added: "There is the separate possibility that the 'one dimension fits all' bank websites of today will soon be replaced by elegant websites that adapt their content - such armed forces, speaking directly to the needs of the customer, will be significantly more compelling"In connected news, a new survey by UK payments association Apacs - to coincide with the tenth anniversary of internet banking - found that

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How to safeguard savers in a banking crisis - Published:04/01/08

All era are London time Search News in the FTcom siteSearchSearch speech marks in the FTcom sitespeech marksCOLUMNISTS John KayBreadcrumb trail navigation:FT Home > Comment & psychoanalysis > Columnists > John KayServicesMany people blame the Northern astound debacle on the tripartite division of responsibilities between the Financial Services Authority, the store of England and the Treasury But there are three divide roles A regulator should protect the public in its transactions with financial institutions A central bank should provide money to the community and manage monetary affairs A government department should formulate policy for the banking sector A middle bank which combines all three roles can compensate for failure in any one of them by printing money But this is not, in the long run, a good ideaSome see Northern astound as a failure of supervision by the FSA But this is to misunderstand the role bank regulation can play Northern astound adopted a plan of aggressively pursuing market share in mortgages by cheap funding from the overblown securitisation market, and the plan collapsed when the wholesale funding markets on which it depended dried up The errors were errors of commerce judgment We have every reason to believe that Northern Rock was honestly and professionally runSome people did think that Northern Rock’s strategy was dangerous But the principal facts about the company’s marketplace share, its business model and its methods of financing were as well known to the market as to the FSA The company’s shares reached a evidence high only four months before it had to seek Bank of England hold up It is inconceivable that the FSA could have forced a change of business approach on a respected business which was providing high-quality value mortgages to millions of households Does anyone believe that the FSA should adjudicate on activist investor Knight Vinke’s criticisms of HSBC or inquire Barclays where it is going after the breakdown of its approach to ABN-Amro The FSA does not have the competence, and should not have even the appearance of authority, for such interventionnow as it should not be the FSA’s work to stop banks doing foolish things, it should not be the store of England’s work to free banks of the consequences of doing foolish belongings Perhaps the Northern Rock problem could have been avoided if the Bank had been willing to deluge markets with liquidity at an early stage But while it would be helpful to automobile manufacturers if a public agency provided liquidity when they suffered a increase of unsold stock, there is no good reason why the government should do this and compelling reasons why it should not The most important is that the scale of proceeds and personal enrichment in financial services makes any public financial support to the industry unacceptableThere is a community interest in preventing systemic collapse of the banking system American policy is still influenced by reminiscences of how the huge Depression was aggravated by successive bank failures When Franklin D Roosevelt became US leader in 1933, the country’s banks were stopped up – not in protest or celebration of the investiture, but to prevent panicking depositors from taking their money out The American answer to these evils, followed in most other countries, is a scheme of deposit defense combined with a regime of particular administration which facilitates the transfer of the possessions and liabilities to stronger institutionsThere was no danger at all of universal failure in Britain until queues began to form outside Northern astound branches and they formed because no adequate assurances could be given to savers put cover provided only for the first £2,000 of savings, and Britain has no device for freezing the activities of a troubled bank Without proper deposit defense, a run was inevitable on the announcement, or rumour, of problems With only the weapon of insolvency available, reorganisation of the bank could happen only after the taxpayer replaced the withdrawn extensive fundingThe specific events of August could not have been predicted, but the failure of a main financial institution was a contingency virtually certain to occur at some time in multifaceted and turbulent financial markets The responsibility for implementing sufficient legal mechanisms for that contingency lies with the administration department responsible for financial services activities – the coffersBlogsBrussels BlogCharles PretzlikClive CrookDear LucyEconomists’ ForumEnergy FilterJohn GapperGideon RachmanTech BlogThe Undercover EconomistWestminster BlogWillem Buiter’s MavereconRegional pagesLatin American agendaChinaIndiaBrusselsInteractivePodcastsDebates & pollsAsk the expertMarkets Q&A* Minimum delay 15 minutesAll times are London timeFT HomeSite mapContact usHelpAdvertise with the FTMedia centreStudent offersFT ConferencesFT SyndicationCorporate subscriptionsFT GroupPartner sites: Chinese FTcomLes EchosFT DeutschlandExpansionInvestors ChronicleExec-Appointmentscom© Copyright The Financial era Ltd 2007 "FT" and "monetary Times" are trademarks of The monetary Times Ltd.

Banking institutions told 1.38m customers will switch current accounts - Published:20/02/07

Millions of people are planning to switch their present account provider in the first half of 2007, according to the newest figures, in news that may have long-term implications for the banking industryinvestigate from financing website MoneyExpert has found that 138 million banking customers are preparation to move their current accounts within the next six monthsTaking advantage of superior investments rates from other banking institutions and avoiding far above the ground penalty charges for going in debt are among the main reasons why people are considering making the button, it is suggested"Customers have got the message that it is relatively simple to move bank and that there are a variety of good value deals out there," he saidLast week, Halifax announced that populace who switched to its present account will receive six per cent interest on credit balancesIn addition to this, the banking organization also confirmed that new customers would receive a rarity welcome payment of £100Bad customer services motivates populace to switch banking financial records, study suggests - Mon, 29 Jan 2007HSBC reveals a million internet banking clientele have turned backs on paper - get married, 17 Jan 2007Building society launches 45 Per Cent gross interest speed for current account - Wed, 03 Jan 2007Banking institutions told 138Bad client services motivates people to switch banking.

"Market leading" HSBC Online Saver to be launched - Published:07/02/07

The HSBC Online Saver is to see its interest rate upped in a few existence time, giving it a "market most important" rate, according to the bankAs of February 5th, the HSBC Online Saver will present new and existing customers a speed of 575 per cent and aims to reward those with long term economy aspirationsIn line with the Bank of England bottom rate increase last month, HSBC has announced that it will also raise the rates by 025 per cent on its immediate Access Isa, Cash Isa and children's savings productsPaul Whitlock, head of investments at HSBC, stated: "HSBC's Online investor is one of the highest paying savings accounts available Unlike many other online savings accounts, customers can now unlock their explanation with just £1 and there are no tiered rates, so they will earn the caption rate of 575 per cent on their whole balance from day one"There is no requirement with the HSBC Online investor to pay regular amounts into the account and interest is dished out on a journal basisCustomers with a HSBC Online Saver account will manage their account solely online and as a result, statements are viewed.

Internet banking 'will get smarter' by Finance News Bulletin

Published: 08/12/07

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How to safeguard savers in a banking crisis - Published:04/01/08

Banking institutions told 1.38m customers will switch current accounts - Published:20/02/07

"Market leading" HSBC Online Saver to be launched - Published:07/02/07