Toronto-based GoldMoney and BitGold reported another strong month in November adding nearly 90,000 new users.
Toronto-base GoldMoney has unveiled a new corporate brand and the first phase re-launch of the GoldMoney platform. The branding follows the July 20 acquisition of the GoldMoney business.
GoldMoney announces the launch of automated savings and payments tools for the BitGold platform. The BitGold platform, a self-directed savings platform and payments network, continues to add new tools and features never before available in the consumer gold market, driving innovation by increasing access, lowering friction, and increasing the utility of gold as a form of savings and as universal payment medium.
Toronto-based GoldMoney, a full-reserve and gold-based financial service and technology group, reported 74,262 sign-ups in August to hit 242,264 total. Transaction volume hit CN$11,798,296 for the month.
Toronto-based GoldMoney, f/k/a BitGold, which operates a self-directed savings platform and a payments network allowing individuals and businesses to make or receive online, in-store or mobile payments, continues to soar with 168,000 users at the end of July.
Toronto-based BitGold has swallowed the intellectual property and operating subsidiaries of GoldMoney for $59.4 million and will become GoldMoney. The BitGold payment and savings platform will operate as a separate service focusing on the expansion of a high-growth internet user base, while also developing a global end-to-end payments and international transfer network utilizing BitGold settlement technology.
With a view to making its online presence even more user-friendly, National Bank Direct Brokerage (NBDB) is launching a mobile version of the new website released in July (nbdb.ca). The mobile site optimizes user experience on smartphone devices, and is in line with NBDB’s interactive strategy, which calls for developing and improving e-channels to make our services even more accessible to self-directed investors. The new site at nbdb.ca, launched a few weeks ago in English and French, features a simplified, user-friendly interface, a new look, and a revamped Education Centre. It offers online investors a personalized path and content adapted to their specific trading style: novice, seasoned or active. The mobile interface, which is also available in English and French, has been enriched and adapted for use on smartphones.
Nice announced has established a practice dedicated to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), and is working with a number of leading financial institutions in the United States as part of their preparation to be compliant with the new recordkeeping and risk management requirements. The focus of these efforts is on…
Discover announced that the WJ Onahan School won its $25,000 School Giveaway contest for having received the most votes out of more than 2,900 schools nominated. This after Discover gave its Facebook fans the opportunity to nominate their favorite public school (K-12) for a chance to win $25,000. Each fan could cast one vote each day throughout the contest period. The Onahan School received the most votes, winning $25,000 to use on books, supplies, technology and other much-needed items. Discover’s School Giveaway contest is an extension of its year-long “Everyday Giveaway” sweepstakes program.
Bank of America reported second-quarter 2010 net income of $3.1 billion, compared to net income of $3.2 billion a year ago. Results were driven by lower credit costs, which improved for the fourth straight quarter, and the sale of non-core assets as the company focused on strengthening key business lines and divesting assets that do not directly contribute to providing financial services to customers. With average retail deposit balances having risen 3% year over year to $649.6 billion, Bank of America extended approximately $174 billion in credit in the second quarter of 2010, including $3 billion in domestic consumer and small business cards and $8 billion in other consumer credit. Bank of America agreed to sell its equity position in MasterCard, resulting in a pretax gain of approximately $440 million to focus on its core businesses and strengthen capital ratios. Global Card Services net income increased $2.4 billion compared to a year ago due to declining credit costs reflecting continued improvement in the U.S. economy; Revenue decreased $401 million from a year ago, driven by lower average loans and reduced interest and fee income primarily resulting from the implementation of the CARD Act, partially offset by the $440 million pretax gain on the sale of the MasterCard position.
BOFA CARD REVENUE($billions)
Fiserv unveiled its Regulation E “Opt-In Optimization Programs” to help its clients prepare for the regulation’s July 1 deadline. These programs are in response to recent regulatory changes that require a consumer to opt-in before banks or credit unions can extend or continue to provide fee-based overdraft services for ATM and one-time debit card transactions. The three tiered “Opt-In Optimization Programs” include: Option One: Reg E Deployment Program and Implementation Workshop: This option is a proactive and affordable option enabling financial institutions to rapidly meet compliance obligations and minimize revenue or consumer losses; Option Two: Reg E Consulting and Opt In Outreach Support: A consultant-led engagement provides tools and guidance needed to minimize the impact of Reg E changes while managing a seamless and effective opt-in program; Option Three: Reg E Outreach Complete: This option is a true turnkey Reg E Opt-In Optimization Program. Also a consultant led engagement, this program includes portfolio segmentation and other data analytics, opt-in optimization recommendations, staff and consumer training and a project plan/deployment guide. Regulation E (Reg E) was issued by the Federal Reserve as part of the Electronic Fund Transfer (EFT) Act, which establishes the basic rights and responsibilities of consumers using EFT services and of financial institutions offering these services.
Competitive intelligence provider Corporate Insight has released a
report detailing the best consumer financial education tools provided by
the industryâs leading retail financial institutions. The report,
âConsumer Financial Education Today: Best Practices,â
indicates that in the past eight months alone, 33% of the self-directed
brokerage firms that Corporate Insight tracks have made major
improvements to their online education, incorporating interactive media
like webinars and other progressive features into their offerings.
Recommendations for how to achieve best practices in terms of content
and presentation are also included within the report. The report
highlights emerging trends for educating consumers about such timely
topics as home
financing in the current economic crisis, the proper use of credit,
planning for retirement across various life stages, options trading and
teaching young people about personal finance. Corporate Insight studied
the techniques used by industry leaders â like interactive online tools,
microsites targeting specific demographic groups, social media, and
webinars â and identified several best practices for each tactic. The
report provides detailed recommendations to help financial services
firms improve their existing educational content.