‘Lloyds TSB launches UK’s first banking ‘superstore’ for international customers’

January 17, 2007 at 5:14 pm

Lloyds TSB today opened the UK’s first dedicated banking ‘superstore’ for international customers in the heart of Manchester, offering people moving to the UK a hassle free banking service.

The revamped store, to be formally opened in February, will provide a tailored service for all customers new to the country although it is largely designed to tap into the rapidly expanding Polish community in the Manchester area.

The store, based at St Mary’s Gate in Manchester, will include a number of fluent Polish speakers on the front line, as well as offering account opening forms in Polish and Polish language brochures to help customers better understand the account features and account opening process.

……. Click link below for full story

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‘Credit cards – Chip & PIN compromised?’

January 8, 2007 at 5:07 am

Chip and PIN technology used to authenticate credit and debit card transactions appears to have been compromised, in theory putting cardholders under increased risk of becoming victims of fraud. This follows news that researchers at Cambridge University have demonstrated how a chip and PIN terminal can be used to steal sensitive data.

How the researchers did it was to open up one of the supposedly tamper-proof terminals, replace the internal hardware with their own, then put it back together without any external evidence of tampering. Just to prove the machine was under their control they got it to play a game of Tetris.

……. Click link below

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‘Phone banking overtaken by internet’

January 1, 2007 at 5:01 am

The number of people that engage in telephone banking has been surpassed by those using the internet banking, according to recently published figures.

Apacs, the UK payments association, reports that that 48 per cent of internet users now bank online, equally 16.9 million adults, while the number of telephone bankers has fallen to 15.4 million in the last year.

Sandra Quinn, director of communications at Apacs, said: “Our research shows that increasingly, if you are under 35, you are more than likely to be turning to the internet rather than the phone to manage your finances.”

She added that those using their PC to bank online should ensure they are adequately protected by recent antivirus updates and a firewall.

Research from Abbey earlier this month revealed that 72 per cent of Britons use the internet to check their accounts, a trend it claimed was leading to the “empowering” of customers.

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