Posts Tagged ‘e-banking’
Fundtech Poll: 85% of corporates would use e-invoicing services if their bank provided it
Read MorePublished by Steve Keifer, Vice President of Industry and Product Marketing for GXS
Read MoreISIS works with one of the biggest banks with branch offices in Germany
Read MoreBoI is the latest company to reduce the number of documents it sends to consumers
Read MoreA new solution was launched by the Norwegian Minister of Finance Kristin Halvorsen, the Minister of Children and Equality Anniken Huitfeldt and the Director of the Norwegian Consumer Council Randi Flesland through the financial portal finansportalen.no, aiming at facilitating the process of switching banks or even starting negotiations within a bank in order to achieve better terms.
Based on the initiative of the Government and industry, new procedures were launched, in 2008, for information exchange between banks and also their customers. “finansportalen.no” is Norway’s most complete marketplace for banking services; it provides pertinent financial and banking information enabling the customers to compare various financial products and services in an efficient manner.
After merely a year of operation, this portal has largely been accepted by customers and the majority of banks. The new switch bank solution constitutes a modern tool that facilitates potential bank switching, enables customers to initiate negotiations with banks while providing the possibility to compare other bank offers online and favours competition among banks selling similar financial products and services. Possible switching is directly implemented by the bank while this new tool facilitates the initiation of the entire process. This modern solution provides its consumers with substantial negotiating power protecting them from extra charges on the services offered, and in addition, stimulates the competition between banks inducing them to offer deals with better terms on their services and products.
As of this week, senders of Digitale Nota who are serviced by Billington, can also reach their customers who are using the Postbank internet banking environment (mijnPostbank.nl). By connecting ING with the 3 main Biller Service Providers, the Digitale Nota is now fully operational and there is no reason anymore not to realize a full scale roll-out of the Digitale Nota. The number of senders is now expected to grow rapidly.
“Because of this milestone, we expect that organizations will make the step towards implementing the Digitale Nota and offer it to their customers very soon. The market will grow exponentially and competition will be fierce. But Billington, being a 100% subsidiary of ING, is ready for this”, says Job van Luyken, Managing Director of Billington.
For more information: www.billington.nl
The creation of the CBI Consortium – Customer to Business Interaction, which replaces the Interbank Corporate Banking Association created by ABI in 2001, was approved on 20th of May 2008 during the ACBI annual meeting. The new CBI Consortium, established in Rome, was created to ensure an even more efficient management of Interbank Corporate Banking; this service allows companies to connect easily, swiftly, and safely with the banks where they hold current accounts, through a single electronic connection. The goal of the Consortium is to plan and develop standards, guaranteeing that they are certified, and to define a reference regulatory framework; this would allow banks to carry out an online connection and dialogue with the clientele, with a view to interoperability both at national and international level.
Read the document about this transformation below:
Source: www.cbi-org.eu
This article is published in the weblog of Bo Harald (Head of Executive Advisors at Tieto).
This announcement will hopefully be issued in many countries – the many reasons for doing it are so very obvious – for anyone wanting to look at the good-for-society-at-large aspects.
But even when the simple and cheap tools are there we will need resolute action to get to the tipping point. Change resistance is massive in this particular area and nobody should expect a breakthrough in less than two years. But if we start now we will have made good progress 2010 and by 2012 invoices will stay digital throughout the processes in many – if not most EU countries. This is a competition where everybody will win..
Resolute actions start by the service providers linking up to each others and providing so simple and cheap tools that no SME using internet can refuse to use. We have the right to expect that banks take their part of the responsibility – collectively to get the network effect.
Resolute action continues by invoice receivers using their natural right – e-invoice as a precondition for a trading relation. We have done so for our part and it has been even astonishing to hear from SME subsuppliers how easy it has been for them to migrate. Only a little pushing needed…
It so reminds me of e-banking in the 80s and early 90s – change resistance all over the place – now 1% of customers use branches for bill payment. But e-banking is not really ready before the whole practise of making a bill payment can be automated – approval with one click – also producing standing order (defacto direct debit). Massive savings – consumers always winning as this produces space for more price competition and service investments. I am sure we can see also consumer organizations to strongly support the efforts (they do know that customers pay every cent of costs).
So 2009 – the e-invoicing year – let us make it happen – on all fronts.
by Bo Harald
Renewable energy supplier Ecotricity has signed up with OneVu to offer its customers a greener billing alternative which will help to reduce the number of paper invoices and statements being produced and sent across the postal system.
Under the agreement, Ecotricity’s domestic customers can now use OneVu’s unique service to view and pay their bills through the secure environment of their online bank, whilst contributing to an initiative that reduces carbon dioxide emissions and lessens the pressure on natural resources.
Ecotricity’s main focus is building new green energy sources, and in 2007 alone, the company invested £25 million in wind energy. This figure, equating to over £550 per customer, is more than 100 times the national average when compared to other UK electricity suppliers. To achieve and increase such levels of investment, the company is committed to streamlining business process and reducing overheads by identifying and using cost-effective and responsible solutions such as the OneVu service.
The OneVu service is free for consumers to use and offers a convenient and secure access to a large and growing number of biller websites, saving the consumer time and providing a greater control of personal finances. For billers there are significant savings to be gained through the reduction in processing and postage of paper bills, a decrease in call centre costs and reduced debtor days.
Ecotricity founder Dale Vince commented: “OneVu provides an ideal service for us – a big step on the way to a fully online retail offering. Our customers are already fighting climate change with their electricity bills … taking their actual bills online will reduce the environmental impact of our supply operations and help us on our way to becoming a Carbon Zero business”.
Miles Quitmann, CEO of OneVu, said: “Ecotricity joins over 30 other major billing organisations who have already signed up to our service, particularly in the utilities sector where more than 75 per cent of companies in the UK now use the system.”
Source: Sibos Online
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