Financial

The potential erosion of consumer confidence in the online transaction process and the cost to companies resulting from phishing scams has triggered a multifaceted response from some organizations.

The old adage says,

A group of tech-minded U.S. financial services firms says it

Right on cue Citibank Australia is the first of the big financial services firms to relocate its call centre operations to Manila in the Philippines.

Global financial software house DST International Ltd. (DSTi) is doing something different with its software development. It's doing it here in Australia. And now DSTi is increasing the amount of coding it's doing in Australia, competing head-on with perceived low-cost outsourcers in Asia and India.

Siebel Systems Inc. said Tuesday it has acquired Dublin-based banking software developer Eontec Ltd. to add transactional capabilities to its banking CRM (customer relationship management) and analytics offerings. Siebel paid US$70 million cash for the company, and will pay up to US$60 million more in cash throughout 2005 if revenue and customer-satisfaction targets are met, according to executives.

In response to rising attrition and defection rates, financial services companies have made CRM a priority over the past two years, but according to a recent survey, there is work to be done in terms of improving customer loyalty.

In response to rising attrition and defection rates, financial services companies have made CRM a priority over the past two years, but according to a recent survey, there is work to be done in terms of improving customer loyalty.