SII calls for application of eBay-type ratings to financial services
The Securities and Investment Institute has claimed that there is in a need in financial services for an eBay-type rating system that a customer or counterparty would supply after every transaction.
In the Securities & Investment Review, the chief executive of The Securities and Investment Institute (SII), Simon Cullhane outlined the success of eBay's rating strategy which, he says, offers a highly visible, individual feedback rating given to each member, allowing users to decide whether they trust the counterpart before committing to any deal. He continued, An individual's rating is dynamic and changes according to the simple feedback received from the counterparty on completion of each transaction. The feedback is positive, neutral or negative and is usually accompanied by a brief comment. Mr Cullhane argues that the rating system would immediately provide the reputation and integrity of a firm by instigating a measure of proportionality that discriminates between firms with systematic problems and those with occasional blips. Wholesale, private client and retail trades would all be rated.
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Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Reports Buy online from $125
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