E-Commerce Blog

It can scale mountains in a single bound and wend its way down the most wretched roads. It is the mighty cell phone signal — and the latest hope for bringing financial services to the world’s masses who don’t have access to banks. Grameen Solutions, an affiliate of Nobel Prize winner Muhammad Yunus’ Grameen Bank, this week teamed with Obopay, a for-profit mobile payment company based in California, to bring banking to a billion poor people using cell phones.

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The Cell Phone Connection: Financial Services for the Unbanked

Most Americans rank the customer service at their financial institution as above average, but there is still room for improvement, according to a recent survey conducted by Harris Interactive on behalf of the American Society for Quality. ASQ conducted the survey to identify areas of concern regarding customer service in financial services. According to the American Customer Satisfaction Index, banks have either maintained or gained in customer satisfaction each year since 1999, to where the industry is now at an all-time high of 78 on a scale of 0-100.

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Banking on Customer Satisfaction

The Voice Commerce Group has announced the development of a banking system that will enable the use of biometrics-based “voice signatures.” “Voice Transact uses a voice biometric to pull together the retail and Internet banking sectors of the market, and will also open up the mobile payments market,” VCG chief executive Nick Ogden said. In addition, Ogden added, the voice biometric system will help reduce security issues, including the major issue of online identity fraud.

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Payment System Uses Voice Print as Signature

Teller-line capture. Customer relationship management software. Real-time alerts. Threat detection and recovery, branch automation, in all its flavors, is here to stay, and community bankers are increasingly embracing it. Atlantic Southern Bank, an $824 million-asset institution in Macon, Ga., that opened in late December 2001, decided to automate the way it reviewed its financial numbers by signing on with Banker’s Dashboard, a Stockbridge, Ga.-based provider of automated reporting and financial analysis. The results were immediate.

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Better Banking Through Technology