Abn Amro Visa

Amro Abn Visa

Netherlands regulatory authority imposes 2.4 million fine on international card services - FinTech Frautures Certain ICS customers received too high loan lines for which they were paying interest and in some cases commission. AFM penalises International Card Services (ICS), a wholly-owned ABN Amro affiliate, for excessively high overdrafts. The ICS declares in March 2017 that it has taken the lead in creating a remuneration scheme for its customers.

Certain ICS customers received excessive lines of credit for which they were paying interest and, in some cases, commission. Company has begun to implement a remuneration scheme for affected customers "as expected". The company has a more than three million card product range and has been in charge of Visa and Mastercard card issuance and operations in the Netherlands for more than 25 years.

Abn Amro enters into Opportunity Network Partner Program

AMRO has entered into a strategical alliance with Opportunity Network, a global on-line trading network that provides companies with insights into actual possibilities for growing, acquiring, expanding, selling and more. "Working with Opportunity Network, we are able to provide additional services and assistance to help companies reach their goals. It will also facilitate the dialog between our customers and the banks about our next steps and fit in perfectly with our policy of serving our customers in the best and most cutting-edge way, both as a banks and through partnerships".

The Opportunity Net is a global on-line networking plattform for companies with a turnover of more than 2.5 million euros. Opportunity Networks works solely with and through a selected group of selected financial institutions and similar reliable associates, providing executives and their team members with real-time exposure to national and global opportunity at all phases of the operational lifecycle, such as sales, acquisitions and acquisitions.

Customers who visit the site can publish their opportunity and get the opportunity to do business with links established on the site. The ABN AMRO is the first provider in the Netherlands to offer direct contact to this unique ecosystem of over 14,000 CEOs. to date. Opportunity Networks Chief Executive Officer Brian Pallas said: "We work extensively with banking institutions that focus on their clients' business and ABN AMRO fits this role well.

As a result of this collaboration, tens of thousand businesses can get in contact with each other. No matter where they do businesses, we link organizations to help them do business." More and more exciting businesses are developing financially and non financially viable solutions and businesses that ABN AMRO can use to help their consumers and businesses in new and exciting ways.

ABN AMRO's cooperation with these firms increases the immediate benefit for customers and at the same time allows ABN AMRO to collaborate in the development of new offers. ABN AMRO's strategy for partnering is to seek businesses that focus on innovating, digitizing finance and/or banking solutions, or on new, green businesses.

An essential criteria is that the firm develops products and/or technology that provide added value to the customers and/or operations of the institution. More information on ABN AMRO partnering can be found on the ABN AMRO website.

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