Customers Financial News

The FCA, the Financial Conduct Authority, has revealed it has fined a subsidiary of Coinbase (CBPL) for offering services to high-risk customers.

customer satisfaction and acquisition while making every marketing dollar count. This emphasis on strategy alignment empowers us to shape the future of marketing in banks. Banks are increasingly investing in corporate branding, celebrity endorsements and targeted marketing for segments like startups and MSMEs to drive digital adoption. The ability to execute swift, need-based marketing campaigns is crucial. For banks focused on deepening customer engagement and loyalty, embedding marketing at the core of their transformation strategy is imperative. As a result, some banks have increased marketing spend to 30-40% y-o-y. However, organisations are struggling to get the desired RoI. Convergence of traditional (TV ads, etc) and digital marketing (online ads, etc) platforms is critical to improving marketing RoI. Linking brand and marketing efforts to enterprise value — driven by revenue growth, customer loyalty in the short-to-medium term, and brand equity over the long term — is essential.

Air India is planning for a faster upgrade of its in-flight product on its key international routes to US and Europe as the Tata group airline tries to attract premium customers who had till now opted for Middle East carriers like Emirates and Qatar Airways due to higher service standard. The airline is planning to amplify its offerings with first class, on top of a business class in its new A350 planes and is also upgrading cabins in its A320 narrow body aircraft. Simultaneously it has planned to have exclusive lounges for its customers at Delhi, Mumbai, Dubai, London, New York, San Francisco by the end of 2025. “We have been talking about the Air India transformation and took a lot of initiatives, but with our new product people are now able to feel it. We have received good reviews from our customers and they feel that it is the sign of a new Air India which will be ready in next two years,” Rajesh Dogra, Chief Customer Experience Officer at the airline said.

McDonald’s is extending its $5 value meal until December at most U.S. stores, and the company's rivals are likely to follow

Toronto-Dominion Bank has been ordered to pay about US$28 million by authorities in the United States for repeatedly sharing inaccurate information about its customers to consumer reporting companies.

banking error at one of Canada’s largest banks.Jason and Susan Lyne say money was being withdrawn monthly from a joint RBC account they share with their daughter without their authorization.“They (RBC) could never answer the question ‘how can someone else’s account or how does someone access my daughter’s account?’” Jason told Consumer Matters.The Lynes say their frustration with RBC started when their daughter noticed payments to Telus exiting their joint account. They say those payments had no association with them or their daughter.

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Three of the nation's largest retailers — Dollar General, Dollar Tree and Kroger — charge fees to customers who ask for "cash back" at check-out, amounting to more than $90 million a year, according to the Consumer Financial Protection Bureau.

The popular airport parking service Park’N Fly is warning Canadian customers that their personal information may have been compromised in a data breach last month.

Macy’s swung back to a profit in its second quarter but suffered yet another sales decline as inflationary weary shoppers rein in spending, with their focus increasingly on buying the essentials

The South Korean crypto exchange Bithumb will let customers open NongHyup Bank accounts via its mobile app.

A panel of the British Columbia Securities Commission has found a cryptocurrency trading platform and its owner lied to customers and diverted about $13 million in assets to gambling and personal accounts.

Delta Air Lines is facing a class action lawsuit, which claims the airline refused to give refunds following a global technology outage last month

Online gambling company bet365 must refund more than a half-million dollars to customers who won bets, but were paid less than they were entitled to when the company unilaterally changed the odds while making the payouts

WazirX’s recent security breach, which saw the theft of approximately $230 million, the exchange’s decision to distribute the loss among all users has sparked intense criticism. Sumit Gupta, Co-Founder of CoinDCX, has condemned the move, labeling it as “utter nonsense.” Sumit Gupta voiced his criticism on X (formerly known as Twitter), stating, «The first contribution to losses should ALWAYS come from the Company (i.e. WazirX in this case) and the treasury and assets the company holds. I have not seen any such commitment around this from the company side, instead making customers directly absorb the 45% losses is utter nonsense. The poll options are also framed in a manner to protect the business first and not the customers.»

Indian banks, grappling with a deepening deposit crunch even after offering higher interest rates in some categories to lure the savings of customers, appear to be resigned to a new normal. With credit growth outpacing deposit growth despite higher interest rates, and a structural shift in the savings habits of customers - who now prefer higher-yielding investments - the proportion of current and savings account (CASA) deposits at banks has shrunk, a situation that may persist for some time.

A global Microsoft Azure outage that impacted a range of services for consumers Tuesday — from reports of stalling Outlook emails to trouble ordering on Starbucks’ mobile app — was triggered by distributed denial of service cyberattack, according to th...

cryptocurrency exchanges, recently faced a significant security breach, resulting in a loss of over $230 million. In response, WazirX announced on Saturday a controversial solution: distributing the loss among all customers. Following the cyberattack, which resulted in the theft of approximately $230 million, equivalent to 45% of user funds, WazirX is implementing a «socialized loss» strategy.

Cryptocurrency exchange Bitstamp announced via the social media platform X that the assets credited to creditors of the Mt. Gox Bitcoin exchange on Bitstamp are now fully accessible following the completion of security checks.

BlockFi, the beleaguered cryptocurrency lender, has received court approval to repay 100% of customers’ funds and unsecured creditors after nearly two years of financial turmoil and legal battles.

Scotiabank says a “technical issue” has left some customers’ payments, including direct deposits, not being put into their accounts.