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Crorepati Banking from SBI

September 7, 2010 – 1:09 pm by Shalini Amarnani
After wooing the urban poor with its 'One Rupee Bank' account, State Bank of India (SBI) is now aggressively targeting the crorepatis. The government lender has inaugurated a first-of-its-kind branch for High Networth Individuals (HNIs), where it takes a minimum of Rs.1 crore (10,000,000) to open an account, and that too by invitation only. The Kohinoor Banjara Premium Banking Centre (named after the famed Kohinoor diamond that was discovered here), spread over 4,000 sq ft, offers specialised ...

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Posted in Banking, Private Banking, SBI
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New Online Bank from General Electric

September 6, 2010 – 12:02 pm by Clair Desai
Online banking has been challenged on many levels by the recent global financial situation. In Europe, dramas like the collapse of Icelandic banks have greatly influenced customer confidence in the sector. General Electric, the American multinational, is currently setting up the UK's first new online bank since the financial crisis. To be launched in the next 18 months, the move is designed to capture those consumers adversely affected by the crisis. General Electric's GE Capital is entering ...

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Posted in Financial Services, Online Banking
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Barclays Online Game Prepares Young Consumers

September 3, 2010 – 11:45 am by Clair Desai
The financial industry is working harder than ever to attract and engage young consumers. This market might not yet be monetarily savvy, but it is very familiar with the internet and social media. Barclays has recently innovated an online game to connect to this demographic. Teaching money management in an interactive, virtual city, the European financial provider has pioneered a new platform to catch the attention of future customers. 56 Sage Street is an online flash ...

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Posted in Banking, Barclays, Branding, Financial Services, Games
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Central Bank – The Official Sponsor of the Commonwealth Games 2010

September 3, 2010 – 9:58 am by Shalini Amarnani
Central Bank of India is the Official Banking Partner for the Commonwealth Games to be held in Delhi and Organising Committee Commonwealth Games (CWG) 2010. In the photograph below you can see that the CMD of Central Bank of India, S. Sridhar, is holding the CMG baton. It has launched a branch exclusively for the Commonwealth Games on Jai Singh Road. The new branch will be able to cater to the banking needs of Games officials, ...

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Posted in Banking, Central bank of India, Credit Cards, Financial Services, Mastercard, Sports Sponsorship, Visa
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Saxo Bank’s Successful Sponsorship

September 1, 2010 – 11:07 am by Clair Desai
Between 3rd July and 25th July, the 2010 Tour de France covered 3,642 kilometres and three countries. Watched by fans worldwide, cycling teams competed in one of the most extensive and demanding editions of the legendary race. For many, the Tour is pure hard work and struggle. For a lucky few it is also about success. One participant still celebrating is Saxo Bank. In its third season as sponsor, Saxo Bank focussed on bringing fans together. ...

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Posted in Financial Services, Sports Sponsorship
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IDBI Fortis now IDBI Federal

August 31, 2010 – 10:05 am by Shalini Amarnani
IDBI Fortis Life Insurance Co Ltd has changed its name to IDBI Federal Life Insurance Co Ltd, in association with its overseas parent Ageas, formerly Fortis. The name change follows Fortis' decision to globally change its name to Ageas in April 2010, which necessitated a change in the name of the joint venture company. With Federal Bank being a joint venture shareholder and bancassurance partner of the company, it was felt that including the Federal brand in ...

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Posted in Axis Bank, Branding, IDBI Federal, IDBI Fortis, Life Insurance, UTI Bank
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Foundations the Focus for L&T Mutual Funds

August 30, 2010 – 10:07 am by Clair Desai
At its most basic, advertising has two fundamental intentions - to capture consumer attention and communicate a product message. For the most part, the balance of these objectives is achieved with varying success. In some cases the innovative or entertaining idea is the only thing remembered. More often, the product is sold without leaving a lasting impression. L&T Mutual Fund's new TVC, based on the festival of Janmashtami, manages to effectively link the concept to the ...

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Posted in Advertising, Financial Services, Mutual Funds
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Mango Money Banks the Unbanked

August 27, 2010 – 10:52 am by Clair Desai
A third of households in Central Texas are unbanked or under banked, according to the FDIC (Federal Deposit Insurance Corporation). There are surely millions of families and individuals across the US without a financial provider. Whether that's because they do not qualify for a traditional account or they just choose not to associate with banks, the demographic has financial needs, and represents real business potential. This potential has been recognised by Mango Money, an innovative US ...

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Posted in Branding, Debit Cards, Financial Services
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Can Smartphones Replace Credit Cards?

August 25, 2010 – 12:04 pm by Clair Desai
Smartphones continue to gain popularity, and users are becoming increasingly comfortable with the interface. Mobile payments are a key progress area. As we reported last month in Bling It On! Banks worldwide are exploring the possibilities of mobile payment services. A new venture from AT&T, Verizon Wireless and T-Mobile could indicate the beginning of the biggest development in this space - the displacement of credit cards by smartphones. US consumers currently use 1 billion credit and ...

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Posted in Barclays, Credit Cards, Financial Services, Mastercard, Mobile Payments, Visa
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ING Direct Launches ‘Bank From Any Corner’ Contest

August 23, 2010 – 3:09 pm by Clair Desai
While financial services are relatively new to social media, networking tools like Facebook and Twitter continue to show significant potential for client interaction. Some financial institutions are still figuring out how to approach their customers in a virtual space, and have yet to interact online. Others, like ING Direct, are enthusiastically developing an online presence. As banks experience varying success rates with social media applications - or question how to even get started - ING Direct ...

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Posted in Financial Services, ING Direct, Mobile Apps, Mobile Banking, Online Banking, iPhone App
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