Issue link: https://maltatoday.uberflip.com/i/283655
12 Business Today Dragonara Gaming Limited, the op- erator of the foremost casino in Malta, and Poker Travel Israel, one of the leading international poker group travel operators, have signed a long- term collaboration agreement through which poker and casino players from Israel and Central Europe will be vis- iting the Dragonara Casino to partici- pate in various organised events. The collaboration between Dragonara and Poker Travel started earlier last year and has already seen hundreds of players from Israel visiting Malta, especially during the tourism shoulder months. The collaboration will now be extended for players from central Europe as special 'travel' packages have been negotiated with various local hotel establishments. Lior Markov, CEO of Poker Travel who was in Malta last week with a group of Israeli poker players was extremely upbeat about the deal. "In our cooperation with Dragonara Casino we have found the company to be hard-working and possessing the right attitude to deliver results in this highly competitive market. Dragonara Casino has a positive vision for the Casino sector in Malta and have great initiatives to transform Malta into one of the leading Poker destinations in Europe," Markov said. Through this cooperation agreement the Dragonara Casino will be entertaining approximately 5,000 poker and casino players from Israel and Central Europe per year, creating 16,000 bed nights in the process. Dragonara Casino is intensifying its drive to attract the best poker events in the region having announced earlier in the year that the casino will be hosting Dealer EM in September 2014 and the Deep Stakes Poker Tour in November 2014 on top of its in- house international tournaments – the Dragonara Poker Open. maltatoday, WEDNESDAY, 26 MARCH 2014 YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Consumer confidence in global banking industry bounces back – EY Survey After a number of years of sharp decline, confidence in the banking industry is on the rise, trust in indi- vidual banks is high and most cus- tomers across the globe are satisfied enough to recommend their main banking provider, finds EY's 2014 global consumer banking survey. The study, 'Winning through customer experience', which surveyed over 32,000 banking customers in 43 countries, shows banks are providing traditional banking services well but are viewed as falling short on important aspects of the customer experience, and are also increasingly vulnerable to competition from new providers of banking services. Heidi Boyle, EY's Principal of Financial Services Customer Practice, says: "Despite another challenging year in the banking industry, consumer confidence has actually gone up. But banks still have some way to go to improve this – for example, increasing transparency around fees and charges. Additionally, improving how they deal with resolving problems or complaints will be critical if banks are to continue to win confidence and build trust." Confidence and trust are building among bank customers Globally, one-third of customers reported an increase in confidence in the banking industry compared to a year ago. This is a marked increase on the figures from the previous survey in 2012. The number of customers whose confidence in the industry has declined in the last 12 months is at 19% – down from a high of 40% in 2012. Around the world, confidence is increasing most in India, followed by Saudi Arabia. To the contrary, overall confidence fell most markedly in Spain and Ireland. Over 90% of customers said that they trust their primary financial services provider, naming, "the way I am treated" as the most important reason for having complete trust in their bank after "financial stability." Recent articles or news stories are in fact one of the lowest influences of trust, with less than ten percent of customers taking them into account as a reason that impacts how much they trust their bank. "The survey finds customer experience to be a main driver of trust and customer experience is also the single most common reason that customers open and close accounts – it is more important than fees, rates, locations, press coverage or convenience," says Boyle. Customers are on the move Fifty-two percent of customers have opened or closed at least one product in the past year and nearly half plan to in the coming year. Of the respondents not planning to close or move their accounts, it is not necessarily because they are confident that they are with the right provider. Twenty-two percent of those who plan to maintain their current relationships feel all companies are the same and slightly less say it is just too difficult or time consuming to change. "Bank customers are not being actively retained; they simply remain with their current provider through inertia and are therefore vulnerable to competitors. Meanwhile, new types of financial services providers with new technologies and customized services are penetrating the global marketplace and cannot be ignored," adds Boyle. Despite improving confidence, customers feel that banks do not always have significant advantage over newer types of banks and technology companies, even when it comes to providing financial advice. More than 30% of respondents believe alternative banking providers are better able than traditional banks to improve how customers conduct business and reach financial goals. "Traditional banks are performing well on basics like branch access and ATM availability but they are most vulnerable in areas with the highest growth potential. There is real opportunity for alternative providers to dominate the digital offering, personalise the experience and become primary providers," Boyle says. Complaint levels are high but handling problems well wins customers Approximately one-third of bank customers contacted their bank about a problem in the past 12 months with two thirds feeling very satisfied or satisfied and a third feeling less than satisfied with the outcome of their complaint. Of customers who were very satisfied, the majority gave the bank more business, while a third of customers very dissatisfied with the problem- resolution experience closed some or all of their accounts. Transparency about fees, charges and guidance on how to avoid them are consistently one of the biggest issues for banks across the globe to tackle. They represent 15% of all problems reported and are second only to denials of credit/ loan requests and charges when making a purchase as a source of dissatisfaction. "The high level of customer complaints is a strong signal that banks need to get better at communicating their fees and charges to their customers. The good news is that solving a problem or addressing a complaint creates a critical customer interaction, which, if done well, can actually increase a customer's business," says Boyle. Taking a fresh approach to segmentation The extensive survey examines 31 core elements of customers' banking expectations and preferences. In the report, the customers were grouped into consumer segments sharing behavioral characteristics, products, channel preference and reasons for trust – rather than only traditional age, geography or income metrics. Each segment varies by size, assets and willingness to pay more for key benefits and is found in all markets across the world. This segmentation provides a fresh lens to help banks identify strategies that more effectively engage customers and invest resources for future growth. Dragonara Casino inks deal with Poker Travel Israel