Journal of Banking and Financial Services

Journal covering banking and finance for members of the Australasian Institute of Banking and Finance.

Articles from Vol. 118, No. 2, April-May

AIBF Regional Executive Officers
The AIBF has eight regional offices across Australia and New Zealand, staffed by experienced financial services professionals whose role is to promote the institute actively and to serve members. Regional executive officers are supported by active...
A Licence to Lead Leadership Skills That Make a Difference: Effective Leadership Is More Than Just Standing over Your Workers until They Make a Mistake
The business world is becoming increasingly competitive, with everyone facing constant demands to produce more profits or gain bigger market share, more quickly. But managing the financials is not enough. We need to manage the changing cultures...
ATMS Via Satellite: More Than Just Star Gazing? Financial Services Heavily Rely on Their IT Systems, Which Is Why Satellite Connectivity Is the Key to Banks Reaching New, Emerging Markets
Ask anyone about the impact of the internet on the business of banking and the answer is most likely to be branch closures. Until recently, the experts agreed that as customers moved to online and telephone banking, the cost justification for running...
Banking: Now and in Ancient Times: They May Not Have Had Internet Banking, but the Ancient Egyptians Pioneered Many of the Practices Rooted in Our Modern Banking Systems. Tony De Joux Draws Some Comparisons with His Home Country of New Zealand
Banking in Egypt was more sophisticated for its time than banking in other countries and--thanks to the invention of papyri--there is plenty of paper evidence of ancient banking practices. In the period in question between 260BC and AD260, Egypt...
Banks Support New Capital Rules: Banks Have Generally Endorsed the Upcoming Basel II Accord Which Updates Global Bank Capital Rules, According to a Global Survey. despite Some Concerns They See the Framework as Enhancing Their Competitiveness and Consistent with Their Internal Risk Management Objectives
Despite a number of setbacks, the Bank of International Settlements (BIS) recently reaffirmed its commitment to implementing the Basel II Capital Accord by the start of 2007. In late 2003, Ernst & Young and Risk.com conducted a global survey...
Cards Regulation: Peace in Our Time? Peter Everett Traces the Recent Developments Which Led to Regulators Using Their Formal Powers to Regulate Credit Cards and Debit Cards. Is EFTPOS Next?
When the competition regulator last year rejected an application by the major banks, credit unions and Cashcard Australia to remove interchange fees on debit cards, an apparent anomaly was at play. In making the decision, the Australian Competition...
Combating Fraud and Improving Security at ATMs: Unfortunately ATM Fraud Has Proliferated along with the Availability of the Machines. Emilio Caligaris Explains How the Common Frauds Work and What Can Be Done to Combat the Problem
ATMs are found almost everywhere these days and offer the epitome of banking ease for customers: insert a card, press a few buttons and the transaction is complete. But the accessibility of ATMs also makes them an easy target for criminals who use...
Congratulations
THE BOARD OF MANAGEMENT CONGRATULATE THE FOLLOWING MEMBERS WHO HAVE NOW QUALIFIED FOR THEIR RESPECTIVE PROFESSIONAL ACCREDITATION AS PER RULE 6(A) OF THE INSTITUTE: FELLOW ANZ RJW Bennett (Vic) Bank of Queensland J-A Winkler (Qld) ...
Harnessing People Power: An Operational Balancing Act: Managers at Operational Level Need to Perform a Fine Balancing Act between Meeting Budgets, Maintaining Customer Service and Keeping Staff Happy and Motivated
The marketing department is pressuring you about starting a new campaign, the product people are demanding higher service standards, your staff budget is firmly in the red and, to cap it off, staff turnover has reached epidemic proportions. Does...
How AXA Australia Boosted Customer Retention through a New Business Model: AXA, a Leader in Wealth Management Teamed with American Management Systems (AMS) to Implement a New Customer Relationship Model. as a Result AXA Met Its Demanding Retention Targets and Is Better Able to Plan Ahead for Future Opportunities
With total revenues of 80 billion [euro] ($A130billion) and assets under management of 890 billion [euro], the France-based AXA Group has a global presence focused on major developed countries. AXA Australia is part of AXA Asia Pacific, one of the...
Industry Forum 2004: New Technologies and Solutions for Financial Services
Speakers at this year's AIBF Industry Forum explored the role of technology of improving customer service enhancing branches and e-business, reducing cost, outsourcing and measuring risks. In this special report we present the edited addresses from...
Mentoring the Giving of Wisdom in the Workforce: The Baby Boomer Generation Is Being Surpassed by the Generation Xers in the Workforce, Raising the Issue of How Companies Can Ensure Harmonious Relations between Young and Old. Mentoring Is One Solution
How many years of knowledge, experience and wisdom have walked out of your organisation in the last five years and probably will over the next five years? How many bright young people do you have on the verge of career success, but only willing...
New People, New Strategy: AIBF Defines Its Future: Fellows of the Australasian Institute of Banking and Finance Sit at the Helm of Most Major Financial Institutions in Australia and New Zealand. How Did the AIBF Develop This Brand Value and How Are We Positioning Ourselves to Extend It within the Industry?
The AIBF has a strong track record as an education facilitator and provider of services to banking and finance professionals. We are building on this longstanding relationship with the industry by continually updating our services to meet the changing...
Powers of Attorney Law: Bankers Beware: New Powers of Attorney Law in NSW Has Significant Implications for Bankers and Financiers
A power of attorney is a legal document that allows a person (known as the "principal") to appoint another trusted person(s) (known as the "attorney") to attend to important financial and property matters on the principal's behalf. A general power...
Professional Development Functions: The Australasian Institute of Banking and Finance Provides Members with Networking, Educational, Training and Information Opportunities
Adding value for members, the AIBF introduced the AIBF MEMBERBenefits and Business Benefits Programs. The programs are designed to provide members with access to a comprehensive range of products and services, as well as many discounts and special...
Putting the Retail Back into Retail Banking: Retail Banks May Describe Themselves as Such, but They Really Have Much to Learn from the World's Best Practice Retailers
Bankers rarely think of their branches as retail stores. They tend to view them as secure and convenient locations for financial transactions. In contrast, the best retailers use their stores to woo customers with tailored products and services offered...
Rating the Human Factor: Why It Matters in the Investment Process: How Companies Manage Their People Should Be a Key Component of Any Investment Agenda, but It Is Often Overlooked in Favour of Other Factors Such as Attitude to the Environment
These days, much equity research is becoming commoditised, with analysts across the finance sector working with similar tools on similar data provided by companies at similar times. At the same time, there is pressure on fund managers and equity...
Tackling Internet Fraud: Electronic Banking Fraud Is Growing with Increased Internet Usage, but Fortunately So Too Are the Technology Solutions
Given the growth of the information society and the advent of the internet, we can all see the need for enhanced security in our daily activities. The electronic marketplace has become increasingly vulnerable to attack, more frequently and through...
Ten Steps to Effective Document Imaging: Document Imaging May Seem Simple Enough but There's Much More to the Process Than Whacking a Piece of Paper in the Scanner or Photocopier. Sanjeev Gupta of Fuji Xerox Global Services Tells How to Avoid the Pitfalls of High-Volume Scanning
Your organisation's most valuable asset--its knowledge--is contained within massive amounts of documents. When you can't retrieve documents quickly, your ability to respond to customer requests is hampered. You miss valuable sales opportunities and...
The (Banking) Customer Is Always Wrong: It Only Takes a Few Moments on the Phone to Build-Or Destroy-Customers' Perception of Your Organisation. Terry Power Gives Some Tongue-in-Cheek Advice on How to Make Your Valued Customers Hopping Mad
Often, it seems, it doesn't take too much to irritate the customer hanging on the end of the phone line. A brief delay is enough. But irritation is one thing: how about hopping mad, so angry they want to reach down the phone line and rip your head...
The Mortgage Trust Sector: Drowning in Liquidity: The Banks Have Taken Away Many of the Mortgage Funds' Traditional Lending Opportunities. as a Result They Will Struggle to Produce Reasonable Returns without Taking Unacceptable Credit Risks
The sharp corrections in international and Australian equity markets have dramatically changed the landscape of the Australian managed funds industry. Mortgage funds have emerged as major winners in this cautious climate, drawing in huge inflows as...
The Taxman: Playing the Man, Not the Company: The Taxman Increasingly Is Seeking to Recoup Company Taxes by Targeting the Individuals Who Ultimately Run the Organisation. There Are Plenty of Laws and Precedents to Support This Approach
Tax Commissioner Michael Carmody in recent times has been sending a plain and simple message to corporate directors: it is they--not someone further down the management chain--who must take more responsibility for their companies' tax compliance. ...
Transaction Denied This ATM Is Not Secure! If Australian Banks Do Not Meet the Prescribed Deadlines for ATM Keypad Security Effective from Next Year, They Could Be Risking Much More Than Losses from Fraudulent Transactions
Here's one for trivia buffs: the world's first ATM was unveiled in the UK in June 1967 by Reg Varney, star of the hit comedy series "On the Buses", on behalf of Barclay's Bank. Since then, ATMs have become more popular than any sitcom or TV personality,...
Using Your Intelligence: A Positive Approach to Corporate Governance
IT'S A BRAVE SOUL WHO THINKS THAT COMPLIANCE WILL STOP WITH THE CURRENT CROP OF NEW RULES SUCH AS BASEL II OR THE AUSTRALIAN FINANCIAL SERVICES REFORM ACT. BUT IF COMPANIES TAKE A POSITIVE APPROACH TO DATA MANAGEMENT THAT SHOULDN'T BE A CONCERN, SAYS...
Welcome
THE BOARD OF MANAGEMENT WELCOMES THE FOLLOWING NEW MEMBERS: New Members--January ANZ DP Fiddes (NSW) Adelaide Bank Limited GM Coote (Vic) J Miller (SA) K Milne (SA) G Polyblank (NSW) A Siebert (NSW) ST Timmins (SA) ...
Who Bears the Cost of Fraud? Cards, Pins and the NZ Code of Banking Practice: The Rising Use of Credit and Debit Cards in New Zealand-And Subsequent Rising Fraud-Calls for an Overhaul of the Industry's Self-Regulated Rules
In the mid-1980s most bank customers paid for their groceries with cash or cheques. Credit cards were accepted by a limited number of retailers and certainly not by supermarkets. The internet was used by academics and scientists but e-commerce was...