Category Archives: Retail Banking

Future Payments 2013 Awards Gala Dinner

15 – 16 May 2013. Millenium Gloucester Hotel, London.

LONDON. A new event – Future Payments 2013 – is set to start on Wednesday, May 15, in London, bringing to the City an intense two-day insight into the future developments of payments and banking technology.

The happening, organised by Timetric’s VRL Financial News at the Millenium Gloucester Hotel, will see leaders from across the banking, payments, retail and telecoms sectors discuss how technology is changing the industry and people’s behaviour.

All this will take place at a crucial moment for all stakeholders, as the future of payments is all but clear and defined, and the risk of turning opportunities into threats is high.

Worldwide eCommerce revenue is set to reach $936 billion by 2015 and $55 billion is expected to be remitted internationally via mobile phones in 2016; by 2016 more than half of the dollars spent in retail will be influenced by the web, with a quarter of consumers using retail stores as “showrooms” and buying online; 46% of internet users already use social media to inform their purchasing decisions before they buy: new and old players will give their point of view on how these factors are shaping their strategy.

Andy Cook, Timetric Group Publisher, said: “The conference has a clear aim – to get people together from across industries, to find answers to a clear set questions: how are consumers’ expectations changing? What will be the impact of telecommunications advances on the way people transact? How will the payments technology landscape evolve over the next ten years? Should payments technology shape consumer behaviour, or simply respond to it?”

On the evening of the conference the Cards & Payments Europe Awards will be held at a Gala Dinner. These awards will allow the best and brightest within the industry to be recognised and celebrated by their peers. The awards provide an ideal platform for companies to showcase their achievements and reward their most outstanding performers.

Editor’s Note:

About VRL Financial News

For over 20 years, VRL has been delivering a unique series of conferences and events to the financial services market. Sponsored by the major players in the industry, VRL conferences deliver focused and original content, with innovative first-time speakers and provocative sessions, exclusive research and a rich mix of delegates.

With major international conferences on the agenda in 2013, each of which is a red letter date in the diaries of the world’s top financial players, the learning and networking opportunities of joining with VRL are second-to-none. More information available on


Asian Banks; Asian Demands

Eastern banking institutions are no longer looking to the West for innovation, focusing instead on the specific needs of the Asian market.

The global economic downturn, combined with the higher expectations and more sophisticated banking needs of customers in Asian markets, have seen Eastern banking institutions break from the past trend of following Western innovation. Consequently, their focus has shifted to the specific needs of the Asian population, as well as away from expensive, large-scale technology projects towards the efficiency and efficacy of existing processes and technologies.

The specific needs of the Asian population

Shifts in the Asian banking sector are being driven by two major trends: a rise in the proportion of the population that require banking services, and a rise in the expectations and sophisticated financial needs of those customers. The hands-on mentality of many customers has meant banks must invest in comprehensive transactional capabilities, whilst the typical personal relationship in branches is being transformed by customer demand for more digital interaction. Further characteristics of the Asian market include an aversion against fees and high-price sensitivity, and a need for personalisation and differentiation from others.

The importance of banking channels

These same trends have further cemented channels as a key area in Asian retail banking innovation, with physical and digital channels being fine-tuned to better reflect the needs of the market. Internet and mobile banking are becoming increasingly intuitive tools to help customers manage their finances, with progressive digitisation and automation impacting the design of some branches, where the high counter has been removed.

A shift in innovation

Although they fared better than their Western counterparts, the global economic crisis did impact Asian retail banking institutions, consequently moving their focus away from expensive, large-scale technology projects that were failing to meet expectations. Instead, their focus has turned to ensuring the efficiency and efficacy of existing processes and technologies.

This shift has seen significant business value added to organisations that have revisited crucial customer-facing processes, such as account opening, loan approval and business continuity, as well as dealt with the surge of new know your customer (KYC) requirements.