Courses being run in conjunction with Eureka Financial Training

We are delighted to announce that we have scheduled a series of additional training courses with Eureka Financial Training.

These are;

• 28-29 June - London - OPERATIONAL RISK MANAGEMENT
• 4-5 July – Dubai - ERM (Enterprise Risk Management)
• 11-12 July - London - ERM (Enterprise Risk Management)
• 18-20 September – Dubai - OPERATIONAL RISK MANAGEMENT AND MITIGATION
• 21-22 September – Dubai - CORPORATE GOVERNANCE
• 25-26 October - New York - OPERATIONAL RISK MANAGEMENT

For additional details please visit our Public Course Schedule page – CLICK HERE

Mobile Payments and small business

A couple of years ago Jack Dorsey helped co-found Twitter. Now he is revolutionizing retail. Jack Dorsey's latest venture, "Square," a small device that turns any mobile phone or tablet into a credit card reader, is now processing more than $1 million a day in mobile payments

Protecting your personal and financial information from fraudsters

US bank Wells Fargo is offering tips to help people keep fraud prevention in focus as encouraging findings are released in the new 2011 Identity Fraud Survey Report from Javelin Strategy & Research, an independent industry research firm. The study found that the number of reported identity fraud incidents in the US during 2010 had declined 28 percent over 2009.

"Wells Fargo has a long commitment of educating people about fraud and helping them protect themselves,” said Secil Watson, senior vice president, Wells Fargo Internet Services Group. “We offer tips, the Fraud Information Center, and we co-sponsor the Javelin Strategy & Research Identity Fraud Survey Report as part of this commitment. We'd like to see continued declines in reported fraud and we want to underscore the importance of people's continued vigilance in protecting their accounts and personal financial information.”

Online and Mobile Fraud Prevention Tips

Stay Current:

• Keep updated: Keep your computer operating system up-to-date to ensure the highest level of protection. Help protect your computers with regular anti-virus software updates.
• Change passwords: It’s a good idea to regularly change your online banking passwords. Be sure your online banking username and password differ from those used on other websites.
• Use official apps: Mobile banking applications, or "apps," are programs you can download to your mobile device. To ensure the safety of your personal and account information, download mobile apps from reputable sources only.

Be Informed:

• Go paperless and monitor: According to Javelin Strategy & Research, fraudsters continue to use traditional methods to gather information, including paper mail that may contain account numbers or other confidential information. 
• Sign up for alerts: Keep a close watch on your finances to quickly spot suspicious activity. Wells Fargo offers many types of alerts, such as a low balance alert that tells you when your account balance falls below your chosen amount. Based on customer preferences, alerts can be sent through email or to a mobile device for quick notification. 
• Review credit report: At least once a year, check your credit report for any suspicious or unauthorized activity.

Use Caution:

• Be careful what you disclose: If you’re suspicious about a request for your personal information that you've received through an email, text message, website, by mail or phone, first verify the request. Use a legitimate source to confirm the request by calling the number listed on the company's website, billing statement, or on the back of the debit or credit card. Never share your mother’s maiden name, Social Security or Identity number, bank account numbers, or account usernames and passwords. Keep your phone number and home address private so they can't be collected.
• Store a copy of your personal & financial information in a secure location: Take a moment to inventory or photocopy the personal and financial information you carry in your purse or wallet, including items such as your driver’s license and credit cards. Store this list in a secure location. This important step will help you know whom to contact if your wallet or purse is ever lost or stolen.

“The Risk Involved With Trading Foreign Currency”

Foreign exchange trading carries with it some unique risks. These risks may be better understood with a clearer understanding of what foreign exchange trading is and a deeper insight of that nature of the transactions that flow through these systems.

Stanley Epstein, one of our Principal Associates has just published a new article dealing with just this. You can read it HERE.

Interactive 3D advertisements from Commonwealth Bank

Australia’s Commonwealth Bank has run a mobile-driven, augmented reality advertisement in key Australian markets. The advertisement, which was placed in a number of Australian newspapers, invited readers to download the bank’s 3D reader app which enabled them to explore “Cherryford Hill”, an interactive virtual town.

In this digital world, users can interact, move around and explore the features of the award-winning CommBank Property Guide app.

Pictures speak louder than words. See for yourself.

Visa shows off it vision of a Mobile Banking/ Payments future

Even though Visa’s vision was first released a year ago it is still worth watching. Many of the features they speak of still lie in the future. Exciting stuff.

M-PESA subscribers in Kenya can now receive mobile money transfers from Western Union in 45 countries, territories

Western Union has announced that clients can now send money directly to the mobile 'wallets' of Safaricom M-PESA subscribers in Kenya from 45 countries and territories - the first service of its kind in the world.

The expansion of the service to more than 80,000 Western Union Agent locations worldwide follows the successful debut of the offering from Western Union Agent locations and the westernunion.com website in the UK.

In the Middle East, the service is now available from 9 countries, including: Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, the UAE and Yemen. The service also is available in Pakistan.

The service rides on Western Union's worldwide network and trusted global "hub" for processing cross-border remittances. It also builds on the unprecedented success of M-PESA, a domestic mobile money transfer service in Kenya offered by Safaricom that has attracted more than 13.5 million customers since its launch in 2007.

"We are pleased to extend our service with Safaricom, and we look forward to adding additional functionality for M-PESA users in the near future," said Jean Claude Farah, Senior Vice President, Middle East and Africa, Western Union.

The service will allow people to visit one of more than 80,000 Western Union Agent locations in 45 countries and territories across the globe and send funds directly to the mobile "wallets" of M-PESA's 13.5 million subscribers. Funds are delivered generally in minutes.

The service will likely be welcomed by thousands of Kenyans working abroad. According to the Central Bank of Kenya, Kenyans living outside their home country sent $642m home in 2010 - up from the $609m sent home in 2009.

Safaricom CEO Bob Collymore said, "Our customers are very proud of the revolutionary M-PESA service, and this partnership sees us pushing new boundaries to continue to keep Kenya at the forefront of the mobile world. Through this partnership, our customers and their friends and families will benefit from affordable, faster and more convenient international remittances, and the money is available to use straightaway for any M-PESA transaction, or can be withdrawn as cash at any of our 24,000 Safaricom agents."

Western Union offers the Mobile Money Transfer Service in the Philippines with Smart Communications and Globe Telecom; in Malaysia with Maxis; and in Canada with EnStream. Western Union also has agreements with other mobile operators and banks to introduce the service in the future.

PNC Bank’s virtual Wallet App for iPhone & iPod Touch

PNC Bank has created a virtual wallet app that allows clients to access recent transactions, a calendar and the “money bar.” Account holders can tap and drag the interactive slider on the money bar to transfer money between accounts and then use the “roller” to fine-tune the amount. The virtual wallet app allows users to shake the phone to transfer money into her/his online piggy bank (PNC’s Virtual Wallet Growth Account). Day and month views on the calendar allow customers to check on transactions - where green dots indicate deposits, orange dots represent withdrawals and red bars warn of danger days. Bills can be paid using a graphical interface. Another feature allows for easy searches of ATMs or bank branchs.

Bank branch of the future

In recent weeks we have featured quite a few “concept” branches that banks are unveiling around the world. Now the National Bank of Greece jumped on the bandwagon with its concept i-branch.

The National Bank of Greece (NBG) is opening this technology-heavy concept branch in Athens designed to showcase its electronic services.

According to NBG the i-bank gives "e-banking true physical form" claims, with staff providing information and assistance relating to online and mobile services.

The branch which is chockfull of screens has a lounge area with a virtual sky and vertical garden. The interactive zone is equipped with augmented reality applications and electronic games.

The branch also provides customers with educational workshops, presentations, video conferencing and free WiFi. There are plenty of other incentives too such as a free i-bank club card that gives members access to sweepstakes, discounts and invitations to various events NBG is planning at the branch.