My bank, your brand, our customers

Article Abstract:

The Canadian Imperial Bank of Commerce (CIBC) has teamed with Canadian grocery retailer Loblaw Companies Ltd. to market CIBC electronic banking services under Loblaw's recognizable "President's Choice" brand name. Since the launch in 1998, CIBC has gained 200,000 customers. About 4000 new customers sign up each week. President's Choice has no-fee banking, so the customer never pays a service charge. CIBC plans to offer Internet banking services through three more partnerships by the end of 1999.

Canada, Grocery Stores, Supermarkets and Other Grocery (except Convenience) Stores, Statistical Data Included, Retail industry, Retail trade, Grocery industry, Marketing, Canadian Imperial Bank of Commerce, Loblaw Companies Ltd.

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An Internet broking option cuts the cost of forex dealing

Article Abstract:

Macquarie Bank is using the SFINX software application, which was developed locally by Australian software company Novasoft, to support an online foreign exchange operation. While SFINX only supports options trading denominated in Australian and American dollars, Macquarie Bank estimates it has cuts its brokerage costs by 80% which is considerable as the average annual cost of bank forex operations is A$400,000.

On-Line Information Services, Videotex & Teletext, Communication services, not elsewhere classified, Foreign Exchange Dealers, Commodity Contracts Dealing, Product information, Internet services, Information services, Foreign exchange market, Macquarie Bank Ltd., NoVaSoft

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Technology overhaul relieves bank of its IT anxiety

Article Abstract:

Commonwealth Bank installed Microsoft's Windows NT operating system in all of its banks as of Jun 1998. There are 2,500 servers and 5,000 workstations which makes it one of the largest NT sites. Commonwealth Bank outsourced its technology operations to EDS in Oct 1997 and saved 12% of its technology budget. The company will save 30% annually by 2001.

Information management, Commonwealth Bank of Australia

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