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China's ICBC set to expand in Canada
Eddy Lok and Li Na in Toronto
927 mots, 13 septembre 2013
China Daily-US Edition CDUSDE
10 Anglais, Copyright 2013 China Daily Information Company. All rights reserved.
As one of the largest commercial banks in the world, Industrial and Commercial Bank of China (the bank group) had expanded to 39 countries by the end of 2012. Seeing the huge market potential in Canada, the bank group made the strategic and successful acquisition of Bank of East Asia (Canada) in January 2010.
"Our bank group has around 400 million individual and corporate clients in mainland China," William Zhu, president and CEO of The Industrial and Commercial Bank of China (Canada), told China Daily at the Toronto Bay Street Head Office. "As our valued clients are investing overseas and their companies are expanding internationally, we need to be right alongside them, meeting their banking needs."
Zhu said the Sino-Canadian markets are complementary of each other. As merchandise trade between Canada and China had increased to over $70 billion by the end of 2012 from $42 billion in 2006, the two countries continued to warm up to each other. Two-way investment had topped $15 billion and China is now Canada's second largest single-nation trading partner.
The acquisition of Bank of East Asia (Canada) allowed a smooth entry into the local market. The three and half years that followed built a solid foundation to enable stable future growth. Today, the bank has grown to include seven branches in Toronto and Vancouver, all located close to sizeable Chinese communities.
With the opening of a prominent downtown branch in the center of Toronto's financial district in September 2011, the bank group is shifting gears towards a more diversified client base. Plans are afoot to open more branches in Canada. The first wholesale branch in Calgary is underway and a Montreal location is in the planning stage.
Today, the bank offers both retail and corporate banking services. While operating on a par with international standards in banking practices, Zhu stressed that the bank group is finding its niche, a specialty that sets it apart from the other Canadian banks. Time and resources are being invested in advancing the in-house IT infrastructure. Through advanced electronic banking, the bank is able to explore this market and provide a convenient, cutting edge platform for banking services and operations. The bank group is also strong in electronic channels like bank cards, online banking, telephone banking and cell phone banking, said Zhu. Of Canada's 76 banks, only a handful provide cell phone banking.
"By providing more services through the electronic channel which is the new industry trend, we don't have to compete in the physical network but rather in easy usage and unique services," said Zhu. "Using one central data center, effective solutions and prompt remittance services can be provided globally."
Other competitive services have been launched, including the CUP Dual Currency Credit Card, which can be used with UnionPay's worldwide network. It's the first UnionPay credit card in North America, and the second in the world. The 2.5 percent foreign currency conversion fee associated with credit cards is waived.
"With our dual currency Global Debit card, our clients in Canada can withdraw money from 2,400 ATM machines without charge. When purchasing goods globally, there is no currency conversion fee. When used in China, it is treated as a local debit card, which makes it especially convenient for frequent travelers," Zhu said.
With the increasing number of immigrants and tourists in Canada comes a higher demand for inter-continental services. "When Chinese citizens immigrate to Canada, or come here for study or vacation, we can provide them with the services they need. Many prefer to bank with us because they are familiar with our products and quality of service," Zhu said.
For Chinese investors, Canada is safe and fertile ground for foreign investments. China's huge population encourages its need to look overseas for resources ranging from oil, gas, and agri-food to renewable energy and real estate. "They know we can help reach a deal. We have an established IT platform sourcing information for the Canadian businesses. We emphasize good relations with local major banks, global accounting firms, law firms, investment banks and local companies," Zhu continued.
"While we want to help Chinese investors start businesses and invest in Canada easily, we also want our local Canadian companies to see the vast opportunities investing in China can bring to them. We want to be the preferred financial bridge of the two sides," said Zhu. "Canadian companies coming into China should see the importance of forming a partnership with a bank that understands Chinese businesses and has excellent connections.
"The bank group has over 18,000 branches covering all corners of the mainland, ongoing connections with the Chinese government, VIPs and local business communities," Zhu said. "We can assist with everything from finding a local partner to trade finance."
"With continuous development of new innovative products and continuous support from our parent bank, the bank group will become more competitive over time. Taking advantage of its strengths of a vast clientele base and IT platform, we will further provide our customers with comprehensive products and services with local characteristics, developing our competitive edge along the way," said Zhu.
Asked if the bank group is pushing for globalization and internationalization, Zhu said the bank wants to be a "globalized local bank".
"We appreciate the Canadian culture and know we must conduct business with local business and local people," he said "We want to be the preferred China-Canada financial bridge."
China Daily Information Company
Eddy Lok and Li Na in Toronto
927 mots, 13 septembre 2013
China Daily-US Edition CDUSDE
10 Anglais, Copyright 2013 China Daily Information Company. All rights reserved.
As one of the largest commercial banks in the world, Industrial and Commercial Bank of China (the bank group) had expanded to 39 countries by the end of 2012. Seeing the huge market potential in Canada, the bank group made the strategic and successful acquisition of Bank of East Asia (Canada) in January 2010.
"Our bank group has around 400 million individual and corporate clients in mainland China," William Zhu, president and CEO of The Industrial and Commercial Bank of China (Canada), told China Daily at the Toronto Bay Street Head Office. "As our valued clients are investing overseas and their companies are expanding internationally, we need to be right alongside them, meeting their banking needs."
Zhu said the Sino-Canadian markets are complementary of each other. As merchandise trade between Canada and China had increased to over $70 billion by the end of 2012 from $42 billion in 2006, the two countries continued to warm up to each other. Two-way investment had topped $15 billion and China is now Canada's second largest single-nation trading partner.
The acquisition of Bank of East Asia (Canada) allowed a smooth entry into the local market. The three and half years that followed built a solid foundation to enable stable future growth. Today, the bank has grown to include seven branches in Toronto and Vancouver, all located close to sizeable Chinese communities.
With the opening of a prominent downtown branch in the center of Toronto's financial district in September 2011, the bank group is shifting gears towards a more diversified client base. Plans are afoot to open more branches in Canada. The first wholesale branch in Calgary is underway and a Montreal location is in the planning stage.
Today, the bank offers both retail and corporate banking services. While operating on a par with international standards in banking practices, Zhu stressed that the bank group is finding its niche, a specialty that sets it apart from the other Canadian banks. Time and resources are being invested in advancing the in-house IT infrastructure. Through advanced electronic banking, the bank is able to explore this market and provide a convenient, cutting edge platform for banking services and operations. The bank group is also strong in electronic channels like bank cards, online banking, telephone banking and cell phone banking, said Zhu. Of Canada's 76 banks, only a handful provide cell phone banking.
"By providing more services through the electronic channel which is the new industry trend, we don't have to compete in the physical network but rather in easy usage and unique services," said Zhu. "Using one central data center, effective solutions and prompt remittance services can be provided globally."
Other competitive services have been launched, including the CUP Dual Currency Credit Card, which can be used with UnionPay's worldwide network. It's the first UnionPay credit card in North America, and the second in the world. The 2.5 percent foreign currency conversion fee associated with credit cards is waived.
"With our dual currency Global Debit card, our clients in Canada can withdraw money from 2,400 ATM machines without charge. When purchasing goods globally, there is no currency conversion fee. When used in China, it is treated as a local debit card, which makes it especially convenient for frequent travelers," Zhu said.
With the increasing number of immigrants and tourists in Canada comes a higher demand for inter-continental services. "When Chinese citizens immigrate to Canada, or come here for study or vacation, we can provide them with the services they need. Many prefer to bank with us because they are familiar with our products and quality of service," Zhu said.
For Chinese investors, Canada is safe and fertile ground for foreign investments. China's huge population encourages its need to look overseas for resources ranging from oil, gas, and agri-food to renewable energy and real estate. "They know we can help reach a deal. We have an established IT platform sourcing information for the Canadian businesses. We emphasize good relations with local major banks, global accounting firms, law firms, investment banks and local companies," Zhu continued.
"While we want to help Chinese investors start businesses and invest in Canada easily, we also want our local Canadian companies to see the vast opportunities investing in China can bring to them. We want to be the preferred financial bridge of the two sides," said Zhu. "Canadian companies coming into China should see the importance of forming a partnership with a bank that understands Chinese businesses and has excellent connections.
"The bank group has over 18,000 branches covering all corners of the mainland, ongoing connections with the Chinese government, VIPs and local business communities," Zhu said. "We can assist with everything from finding a local partner to trade finance."
"With continuous development of new innovative products and continuous support from our parent bank, the bank group will become more competitive over time. Taking advantage of its strengths of a vast clientele base and IT platform, we will further provide our customers with comprehensive products and services with local characteristics, developing our competitive edge along the way," said Zhu.
Asked if the bank group is pushing for globalization and internationalization, Zhu said the bank wants to be a "globalized local bank".
"We appreciate the Canadian culture and know we must conduct business with local business and local people," he said "We want to be the preferred China-Canada financial bridge."
China Daily Information Company
Efma and Accenture Announce Winners of Global Banking Distribution and Marketing Innovation Awards
1099 mots 17 octobre 2013
00:00 Business Wire, BWR
Anglais (c) 2013 Business Wire. All Rights Reserved.
Retail banks from emerging markets represent half of the winning innovations
PARIS--(BUSINESS WIRE)--October 17, 2013--
Efma, an association whose membership includes nearly one-third of the world's large retail banks, and Accenture (NYSE:ACN) have announced the winners of their inaugural Global Distribution & Marketing Innovation Awards for retail banks. The global program, jointly launched by Efma and Accenture, identifies and awards banks for groundbreaking customer innovations.
More than 150 banks from 54 countries around the world submitted nearly 330 case studies of customer innovations in the following categories: Digital and Mobile Excellence, Physical Distribution, Multichannel and Customer-Experience Management, Customer Analytics and Big Data, Sales Effectiveness, and Responsible Business.
The winners were selected by a combination of votes from a panel of judges composed exclusively of senior retail bankers from around the world, and online votes from Efma members.
This year's winners include:
-- Multichannel and Customer-Experience Management: Nykredit, Denmark for its Direct Banking -- a team of online, remote personal advisors to help meet the needs of Nordic banking customers who prefer digital channels but still need one-to-one advice.
-- Digital and Mobile Excellence: BRE Bank, Poland for its new mBank -- virtual branch with a unique app-like and mobile-enabled user interface, advanced and integrated personal financial management tools, redesigned customer-centric navigation, social media-integrated offers and a number of other innovative features not typically associated with online banking.
-- Sales Effectiveness: Hana Bank, Korea for its Hana N Cyber -- An internet/mobile product sales model that strategically integrates on/offline channels and acquires new customers without the limitations and requirements that come from transacting at a branch location.
-- Customer Analytics and Big Data: Intesa Sanpaolo, Italy for Customer Dialogue Analytics -- A new analytics approach with the aim to monitor and stimulate actions about overall relationship and selling activities in branches.
-- Physical Distribution:
-- Aktifbank, Turkey for the Aktif Nokta Project -- A versatile distribution channel where customers get banking and many other non-financial retail services at the same time.
-- Allied Irish Bank, Ireland for "The Lab" -- technology-driven digital banking store that brings all of AIB's leading edge technologies together in a physical hub to showcase, test and introduce customers to the best digital banking experience in Ireland.
-- Responsible Business:
-- BNP Paribas Personal Finance (Cetelem), France for its financially fragile loan holder prevention program -- anticipates loan holder's budget problems before their financial situations become too difficult, offering helpful advice and effective solutions.
-- Maybank Berhad, Malaysia for its CashVille Kidz -- a nationwide early financial education program that teaches good money management habits and empowers the younger generation to become financially savvy.
Two additional awards were granted to:
BRE Bank, Poland, which was recognized as "The Most Disruptive Innovation" for radically changing and redefining the way it does business. -- La Caixa, Spain, which was recognized as "The Global Innovator of the Year" for committing its overall vision to innovation and developing innovative products to transform its business model.
"Many of the most impressive innovations came out of emerging markets, in Eastern Europe and Asia, competing with some of the biggest established banks," said Patrick Desmarès, Secretary General of Efma. "On the other hand, some of these established banks, such as BNP Paribas, La Caixa and Intesa Sanpaolo, are also demonstrating that the organizational culture change, which is required to execute an innovation strategy, is within the reach of the largest financial institutions. We hope that these innovations inspire others to examine what they are currently doing and identify opportunities to make further advancements in customer-facing products."
"We believe that significant banking revenues are at risk with the emergence of non-traditional competitors," said Piercarlo Gera, global managing director of Accenture Distribution and Marketing Services. "To drive profitability, banks need to transform their business models and innovate to engage with their customers based on what these customers need and not on what banks have to sell. They will have to become the keystone in consumers' everyday life needs, not only offering financial services, but also non-financial services through a network of business partners, so they can increase customer interactions and better-suited cross-selling opportunities. We co-founded this awards program to bring some of these customer-relationship innovations to light."
"We warmly congratulate the winners of this inaugural award," said Juan Pedro Moreno, global managing director of Accenture's banking industry practice. "These projects represent the vanguard of real world service innovations in retail banking, and they offer a model for institutions looking to carve out their future competitive positions as this industry rapidly evolves into the digital world."
About Efma
As a global not-for-profit organisation, Efma brings together more than 3,300 retail financial services companies from over 130 countries. With a membership base consisting of almost a third of all large retail banks worldwide, Efma has proven to be a valuable resource for the global industry, offering members exclusive access to a multitude of resources, databases, studies, articles, news feeds and publications. Efma also provides numerous networking opportunities through working groups, online communities and international meetings. For more information: www.efma.com or [email protected].
About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with approximately 275,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is www.accenture.com.
Accenture helps financial institutions transform their customer relationships through Accenture Distribution and Marketing Services, a business service within Accenture's financial services operating group, serving more than 100 institutions worldwide. Accenture Distribution and Marketing Services combines Accenture's deep industry knowledge in banking, insurance and wealth management with proven expertise in marketing, distribution and innovation. It blends Accenture's management consulting, technology and outsourcing capabilities -- including its assets and expertise in digital innovations, like analytics and mobile -- to help institutions improve growth and cost management through better customer relationships.
Accenture | François Luu, + 33 6 60 53 84 28 | [email protected] | or | Sean Conway, + 917 452 6444 | [email protected] | SOURCE: Accenture Order free Annual Report for Accenture Plc | Visithttp://djnweurope.ar.wilink.com/?ticker=IE00B4BNMY34 or call +44 (0)208 391 6028
Business Wire, Inc.
1099 mots 17 octobre 2013
00:00 Business Wire, BWR
Anglais (c) 2013 Business Wire. All Rights Reserved.
Retail banks from emerging markets represent half of the winning innovations
PARIS--(BUSINESS WIRE)--October 17, 2013--
Efma, an association whose membership includes nearly one-third of the world's large retail banks, and Accenture (NYSE:ACN) have announced the winners of their inaugural Global Distribution & Marketing Innovation Awards for retail banks. The global program, jointly launched by Efma and Accenture, identifies and awards banks for groundbreaking customer innovations.
More than 150 banks from 54 countries around the world submitted nearly 330 case studies of customer innovations in the following categories: Digital and Mobile Excellence, Physical Distribution, Multichannel and Customer-Experience Management, Customer Analytics and Big Data, Sales Effectiveness, and Responsible Business.
The winners were selected by a combination of votes from a panel of judges composed exclusively of senior retail bankers from around the world, and online votes from Efma members.
This year's winners include:
-- Multichannel and Customer-Experience Management: Nykredit, Denmark for its Direct Banking -- a team of online, remote personal advisors to help meet the needs of Nordic banking customers who prefer digital channels but still need one-to-one advice.
-- Digital and Mobile Excellence: BRE Bank, Poland for its new mBank -- virtual branch with a unique app-like and mobile-enabled user interface, advanced and integrated personal financial management tools, redesigned customer-centric navigation, social media-integrated offers and a number of other innovative features not typically associated with online banking.
-- Sales Effectiveness: Hana Bank, Korea for its Hana N Cyber -- An internet/mobile product sales model that strategically integrates on/offline channels and acquires new customers without the limitations and requirements that come from transacting at a branch location.
-- Customer Analytics and Big Data: Intesa Sanpaolo, Italy for Customer Dialogue Analytics -- A new analytics approach with the aim to monitor and stimulate actions about overall relationship and selling activities in branches.
-- Physical Distribution:
-- Aktifbank, Turkey for the Aktif Nokta Project -- A versatile distribution channel where customers get banking and many other non-financial retail services at the same time.
-- Allied Irish Bank, Ireland for "The Lab" -- technology-driven digital banking store that brings all of AIB's leading edge technologies together in a physical hub to showcase, test and introduce customers to the best digital banking experience in Ireland.
-- Responsible Business:
-- BNP Paribas Personal Finance (Cetelem), France for its financially fragile loan holder prevention program -- anticipates loan holder's budget problems before their financial situations become too difficult, offering helpful advice and effective solutions.
-- Maybank Berhad, Malaysia for its CashVille Kidz -- a nationwide early financial education program that teaches good money management habits and empowers the younger generation to become financially savvy.
Two additional awards were granted to:
BRE Bank, Poland, which was recognized as "The Most Disruptive Innovation" for radically changing and redefining the way it does business. -- La Caixa, Spain, which was recognized as "The Global Innovator of the Year" for committing its overall vision to innovation and developing innovative products to transform its business model.
"Many of the most impressive innovations came out of emerging markets, in Eastern Europe and Asia, competing with some of the biggest established banks," said Patrick Desmarès, Secretary General of Efma. "On the other hand, some of these established banks, such as BNP Paribas, La Caixa and Intesa Sanpaolo, are also demonstrating that the organizational culture change, which is required to execute an innovation strategy, is within the reach of the largest financial institutions. We hope that these innovations inspire others to examine what they are currently doing and identify opportunities to make further advancements in customer-facing products."
"We believe that significant banking revenues are at risk with the emergence of non-traditional competitors," said Piercarlo Gera, global managing director of Accenture Distribution and Marketing Services. "To drive profitability, banks need to transform their business models and innovate to engage with their customers based on what these customers need and not on what banks have to sell. They will have to become the keystone in consumers' everyday life needs, not only offering financial services, but also non-financial services through a network of business partners, so they can increase customer interactions and better-suited cross-selling opportunities. We co-founded this awards program to bring some of these customer-relationship innovations to light."
"We warmly congratulate the winners of this inaugural award," said Juan Pedro Moreno, global managing director of Accenture's banking industry practice. "These projects represent the vanguard of real world service innovations in retail banking, and they offer a model for institutions looking to carve out their future competitive positions as this industry rapidly evolves into the digital world."
About Efma
As a global not-for-profit organisation, Efma brings together more than 3,300 retail financial services companies from over 130 countries. With a membership base consisting of almost a third of all large retail banks worldwide, Efma has proven to be a valuable resource for the global industry, offering members exclusive access to a multitude of resources, databases, studies, articles, news feeds and publications. Efma also provides numerous networking opportunities through working groups, online communities and international meetings. For more information: www.efma.com or [email protected].
About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with approximately 275,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is www.accenture.com.
Accenture helps financial institutions transform their customer relationships through Accenture Distribution and Marketing Services, a business service within Accenture's financial services operating group, serving more than 100 institutions worldwide. Accenture Distribution and Marketing Services combines Accenture's deep industry knowledge in banking, insurance and wealth management with proven expertise in marketing, distribution and innovation. It blends Accenture's management consulting, technology and outsourcing capabilities -- including its assets and expertise in digital innovations, like analytics and mobile -- to help institutions improve growth and cost management through better customer relationships.
Accenture | François Luu, + 33 6 60 53 84 28 | [email protected] | or | Sean Conway, + 917 452 6444 | [email protected] | SOURCE: Accenture Order free Annual Report for Accenture Plc | Visithttp://djnweurope.ar.wilink.com/?ticker=IE00B4BNMY34 or call +44 (0)208 391 6028
Business Wire, Inc.