Journal of Banking and Financial Services

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

Articles from Vol. 117, No. 3, June-July

Can You Trust Your Online Bank? Providing Secure Online Services at All Stages of a Transaction Is-Or Should Be-A Key Priority for All Financial Institutions. (On-Line Banking)
For centuries, financial services organisations have provided trusted environments for individuals and companies to conduct business. In recent times the Internet has presented financial service companies significant opportunities in terms of reduced...
Career Development: Empowering Your Staff to Excellence; Modern Career Development Should Not Be Based on Old Assumptions Such as the Need to Be Loyal to One Organisation. (Career Development)
Modern career development models have the following features: * an emphasis on individual responsibility for employee careers; * acknowledgement of differences in defining success and priorities; * a clear understanding of the relationship...
Congratulations. (Member Accreditations)
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 Employer not specified Miller, Grant (NZ) Rush, Jacqueline Susan...
Effective Bait for Good Employees: A New Zealand Survey of the Factors Which Help Companies Attract the Best People Has Produced Some Surprises. (People Management)
The finance, accounting and banking sectors all depend on the skills and knowledge of people. Good people means good business. By implication, attracting and retaining quality employees is vital for long-term health and viability, whether you're a...
Foreign Banks Maintain Important Role in Australia: Standard & Poor's Expects Australian Foreign Banks to Face Continued Challenges, Given Continued Global Economic Uncertainty, and a More Cautious Domestic Economic Outlook. but at Least Prospects Remain Sound for the Australian Economy by International Standards. (Foreign Banks)
Australia's foreign banks remain an important component of parent group operations, helping to service group global customers while also establishing a presence and role in the Australian commercial banking market. Although Australia's foreign banks...
Get to Know Your Customers Better with Spatial Technology: Traditional Business Intelligence Tools Cannot Answer Questions Such as Where Customers Live and Work. but So-Called Spatial Technology Can. (Technology Supplement)
Location intelligence--the ability to analyse a business based on customer demographics--is an immensely valuable asset for a financial services organisation. Along with some appropriate variables on customer wealth levels and demographics, this technology...
Going Concern: GST-Free or Not GST-Free? (Tax and Law Australia)
AT face value, the tax law on the treatment of GST as relating to supplying a "going concern" enterprise is short and concise. Yet the brief passage--12 lines amounting to 100 words--has given rise to three different Australian Taxation Office rulings....
How Reliable Is Customer Research? Are Bank Customers Deliriously Satisfied or Seething with Resentment? It All Depends on What Research You Read. Elizabeth Duncan Argues the Case for More Rigorous and Transparent Research Methods. (Customer Satisfaction)
Most companies carry out customer service research in the hope it will give them insights into how their customers tick--and financial institutions are no exception. It is questionable, however, how useful this information really is. The results...
Moving Call Centres to Centre Stage: Senior Management in the Financial Services Industry Is Starting to Pay Much Closer Attention to the Role of Call Centres. This Recognises That These Resources Are the Prime Source of Contact for Most Customers. (on the Cutting Edge)
As a result, call centres are changing along with technology requirements, people skills, training, customer service delivery and strategy. However, if financial institutions want to get more value from their call centres, they will need to invest...
New Zealand Banking Industry Overview: The New Zealand Banking and Finance Industry Has Continued to Achieve Significant Growth in Lending Assets and Strong Profit Performance, According to KPMG's Analysis. (Survey Report)
Despite adverse external conditions--weak world growth and conflict in the Middle East--the NZ economy has remained relatively stable, resulting in a positive environment for loan growth. The local pressures of a rising NZ dollar, drought conditions...
Professional Development Functions: The Australasian Institute of Banking and Finance Provides Members with Networking, Educational, Training and Information Opportunities. (Upcoming Events)
In today's daily corporate life we need to be astute and ethical business professionals, dynamic leaders, sound managers and mentors, exceptional time keepers, effective communicators, able to deliver results, well informed on current issues and best...
Rethinking Branch Technology: Banks Face the Challenge of Replacing Ageing Specialist Branch Technology with Flexible and Low-Cost Alternatives. (Technology Supplement)
Bank branches are coming back into fashion and perhaps that should not be surprising. After all, history has shown they are the only full service channel that can be relied on to stimulate new product sales. The past ten years has seen considerable...
Risk Management: A Brief History: Risk Management Has Gradually Evolved from a Narrow Insurance-Based Discipline to Covering Anything from Traditional Financial Activities to the Risk of a Building Burning Down. but as Diana Thompson Reports, the Profession Faces More Changes to Come. (Risk Management)
To most businesses, the concept of risk management is confined to financial aspects such as liquidity, interest rate and foreign exchange movements and credit risk. But the risk game is fast changing, with operational risk--covering anything from...
Securing Security in the B2B World: Dozen-Or Even Hundreds-Of Electronic Messages Appear on the Typical Office Screen Every Day. Keeping Them Fast as Well as Secures Is the Key Challenge for Business, Says Zhody Rateb of Fuji Xerox Australia. (Technology Supplement)
It is no secret that electronic communications have replaced paper as the primary way of delivering messages (not that we're using any less paper). Hundreds of messages of all types cross a typical office desk daily, from casual correspondence to contracts...
Socially Responsible Investing: Why So May Critics? the Frequent Criticism of the Socially Responsible Investment Industry Is Misguided, Argue Michael Hardiman and Faye Harrison. (Responsible Investing)(Cover Story)
The emergence of socially responsible investment (SRI) funds in the Australian market over the past several years has highlighted a number of issues. Firstly, it has shown that a significant number of investors want to include long-term sustainability...
Staying Alive and Staying Relevant: The Challenge for Banking Institutes Globally; the Underlying Theme of the 15th World Conference of Banking Institutes Was That, despite Our Not for Profit Status, the Future Survival of Institutes Globally Depends on Maintaining Our Brand Value and Keeping Our Member Services Relevant. (from the Chief Executive)
We cannot simply rely on our longstanding relationship with the industry to attract membership and create a demand for our services. Yet, structural changes and new technologies are rapidly redefining the operating environment and competitor landscape....
The Clock Is Ticking: Complying with New Global Financial Regulation; Financial Institutions Are Facing Growing Pressure to Meet International Standards on Anti-Money Laundering and Other Regulatory Challenges. but Technology Can Help Ease the Burden. (Technology Supplement)
World terrorism, corporate collapses and the advent of internet banking have all contributed to financial institutions being subject to increasing regulation. Pressure is also growing on international banks and institutions to monitor and control their...
Wealth Management: Surviving the Tough Times: AXA Asia Pacific Chief Executive Les Owen Explains Why He Retains Faith in the Wealth Management Industry-But Also Warns That Too Many Providers Are Chasing Too Few Customers. (Wealth Management)
There is no doubt that the current environment is very difficult. 2002 was the third year in a row when the US and UK stock markets fell--the first time this has happened since 1931. While initially the Australian market showed considerable resilience,...
Welcome. (New Members)
THE BOARD OF MANAGEMENT WELCOMES THE FOLLOWING NEW MEMBERS: March New Members Employer not specified JWP Strahorn (Qld) CF Ling (NSW) ANZ M Cole (NSW) C Erenstrom (Vic) MSK Fok (NSW) C Francisco (NSW) C Grech (NSW)...