Retail Banking News Updates, May 30th 2012

Barclays launches Mobile and Tablet Banking apps in the UAE
Barclays has launched mobile and tablet banking services in the UAE, providing customers with a simple and secure method to access their bank accounts from their mobile phone or tablet device using a specially developed application. Customers can access a host of Barclays Online Banking services including real-time viewing of their account information, transferring funds, and paying their credit card bills from their smart phone or tablet device.

Wells Fargo names head for ultra-wealthy US business
Wells Fargo has named Joseph Colianni as head of Abbot Downing, the bank’s wealth management business for the ultra-rich. The business, which was launched in April, has $32.9 billion in client assets under management and caters to ultra-high-net-worth individuals and families with $50 million or more in investable assets.

RBA to overhaul electronic payments
Reserve Bank of Australia (RBA) is set to overhaul the country’s electronic payment systems. The central bank will be focusing on facilitating payments via mobile phones. Currently, mobile phone payments take one or two days to be processed. The overhaul is expected to enable customers to experience real-time mobile payments.

Re-disseminated by The Asian Banker