OREANDA-NEWS. May 13, 2015. A new programme of bond issue, representative office in Hong Kong, accounting services for enterprises, more information for payment cards’ users, additional security in the Internetbank and electronic code cards of new generation — these are the main improvements in products and services that will be implemented in the nearest future for our clients’ convenience.

1.  A new programme of bond issue

Following the programme of bond issue started by our bank in 2011, this year, we are implementing the fifth programme of bond issuance. The Base Prospectus of ABLV Bank, AS, Fifth Bond Offer Programme has already been registered by the Council of the Financial and Capital Market Commission.

Within the programme framework, the bank has the right to perform public offering of debt securities amounting to EUR 400 000 000 or equivalent amount in USD, pursuant to the particular final terms of public offer.

According to the Base Prospectus of the Fifth Bond Offer Programme, ABLV Bank may issue within 12 months both straight and subordinated bonds. Under this programme, we will specifically inform about particular bond issues, as the respective decisions are made.

So far, in the public trading there have been bonds of 19 issues performed by the bank and purchased by more than 600 clients.

In 2015, five issues of straight bonds will be redeemed; in addition the bank has the right to prematurely redeem one issue of subordinated bonds.

2.  Now we are represented in Hong Kong

Exploring new target regions and following our desire to be next to clients, ABLV group has opened a new representative office in the financial world center — Hong Kong.

The representative office has already received the registration certificate and started to operate. Its main task is to inform potential and existing clients about banking, investment and advisory services that ABLV group delivers. 

One of the main advantages of the representative office in Hong Kong is a liberal taxation system and a widely developed sector of financial services. In its turn, many clients from Russia and the CIS countries in order to develop their business establish and register enterprises in Hong Kong. 

The address of the new representative office and contact information are available on our website. 

At the same time, assessing activities of our clients and enhancing our efficiency, on 1 April, we closed two representative offices: in Yekaterinburg (Russia) and in Dushanbe (Tajikistan). 

3.  Accounting services — confidence in company management

Improving its range of services, our subsidiary company, ABLV Corporate Services now offers accounting services for company management in a new and better quality. 

In ABLV Corporate Services, the team of professional accountants with experience in supplying accounting services to enterprises from the following jurisdictions: Latvia, Cyprus and Singapore, works.

Specialists can keep the books within the whole year, prepare monthly and quarterly reports, supply detailed advisory services on taxation, legislation changes, etc.   

Nowadays, there are 15 accountants in ABLV Corporate Services; its services are being used by around 100 clients.

4.  More detailed information for payment cards’ users

Developing our payment cards’ services, the information about cards authorisation which their users receive in SMS or e-mail has been improved. So far, if some problems occurred while the card was being authorised, basically, in all cases, the user got the following message “Transaction NotOK”. Now these messages are clarified. For example, if you exceed the limit of withdrawal, then a card user will get an SMS or e-mail with the text “Exceeds limit”.

On our website www.ablv.com, we published the list of countries with a high level of fraud with payment cards data.

These countries are more than 40, and in order to reduce the level of fraud transactions, we have settled limitations on transactions with payment cards in these countries. If you decide to pay a visit to one of these countries, we would appreciate if you can inform your private banker about this trip, then you will be able to use payment cards without limitations.

5.  Strengthening reliability at the Internetbank log in section

For additional safety in the Internetbank, we have introduced significant changes at user’s recognition stage. These changes are a part of large-scale measures of the improvement of remote account management.

In future, clients with one representative, with one Internetbank user and with one authorization tool will be asked to through two-factor authentication (or recognition). While logging in the Internetbank, a person will have to use not only his user’s code and password (this is the first factor that a person knows), but also the value from the code card or Digipass (this is the second factor that he owns).   

This unavoidable modern technology standard of data security as if complicates the process of logging in the Internetbank, but it allows us to strengthen the primary level of security, at the same time, it makes work in the Internetbank easier. For example, already in July, we will not ask those clients who by this time will have changed to a new authentication mode additional confirmation for payments between accounts of one client, for currency exchange transactions, sales and purchase of financial instruments, placing the deposit, opening a saving account as well as while adjusting the settings for SMS and e-mail notification.  

The transition to two-factor authentication will be done gradually: from May to August. We will get in touch with every client individually by a timely e-mail in the Internetbank.

6.  Introducing the code cards of new generation

To ensure more reliable and secure work in the Internetbank, starting from May 2015 we are launching the code cards of new generation — an electronic code card Digipass GO 100 that generates unique authorization codes for each transaction. 

A new Digipass GO 100 is as thin as the existing code card; therefore, it is easy to put in a purse. In its turn, it is easier in use than the existing one, as by pushing the single button it creates the only right code.

Familiar code cards with printed values will be gradually substituted by new electronic ones — free of charge. It is planned that within the next year and a half, by 2017, we will complete the transition of all clients to secure authorization tools (Digipass). 

Upon client’s request, a familiar multifunctional Digipass 270 and a big size Digipass 300 Comfort are available.