Bank refunds EUR3m for ATM glitch

Bank of Ireland is refunding around 43 000 ATM users a total of EUR3 million after a problem with anti-fraud systems saw money incorrectly debited from their accounts, states Finextra.

The bank is making the payments after its internal monitoring processes flagged that ATM users who forgot to take their cash from the machine were still having the money taken from their accounts.

When distracted customers fail to take cash or their cards at ATMs, the machine waits a short while before pulling the money back in with the debited amount automatically credited again. But the bank explains in a statement that the installation of anti-fraud measures resulted in this automatic system response not occurring for particular transactions, for a period of four years.

Singapore bank OCBC said it will offer banking and securities trading services on the Apple iPad starting Friday, reports Channel News Asia.

It is the first financial institution in Singapore to offer these services on the iPad and the application can be downloaded from the Apple App Store.

The bank said it wants to leverage on technological innovation to enable customers and investors to perform retail banking and securities trading transactions, anytime and anywhere.

CIMB Group, a major financial institution in Malaysia, has deployed Cisco telepresence suites across its offices in Malaysia, Thailand, Indonesia and Singapore, according to Market Watch.

CIMB Group is the first financial services provider in Malaysia to harness the power of video and virtual meetings and aims to transform the organisation by facilitating effective collaboration internally across their geographically disparate locations.

Using high-definition video and spatial audio to create the experience of face-to-face collaboration, telepresence creates an experience where participants feel as though they're sitting in the same room.