HSBC Malta’s offer is valid until 31 October and is available to those students — full-time enrolling or attending secondary schools, MCAST, sixth form, university or any other established post-secondary and tertiary education institution to — who route their stipend through an HSBC Malta account.

As a novelty this year, students can also use the bank’s new online account opening process, which the branch says simplifies and quickens procedures.

“After a long year of study and exams, students just want to wind down, so we launched this new account opening process to make it quicker and easier for them to open their account and continue to enjoy their summer,” said Gregory Inglott, Deputy Head of Retail Banking and Wealth Management.

Having a bank account is a requirement for the majority of students in order for them to receive their stipend, HSBC Malta notes. Students opening a student account with HSBC will benefit from free internet banking, free mobile banking, a free Visa International debit card and discounted fees on withdrawals from non-HSBC ATMs, the press statement says.

“For most students stepping into the world of higher education, the opening of a bank account is often their first experience with a financial institution. That is the reason why we want to engage with them at this point so they can start to develop good personal finance habits and have the right ideas about saving for the future,” added Mr Inglott.

HSBC Malta recently launched a new personal internet banking service, which upgrade happens in phases to help clients familiarise with the new functions. Additionally, HSBC Malta has recently seen some appointments to its managerial team; John Bonello was appointed as the new chairman, Michel Cordina was named as Executive Director, and Joyce Grech was appointed Head of Commercial Banking and Gerard Walsh as the bank’s new Chief Risk Officer.

The post HSBC Malta posts new offer for students first appeared on The Malta Business Weekly.

“This scheme will provide an additional layer of incentives available to intermediaries who perform well for both companies separately and are able to successfully cross-sell both life and non-life business,” the press statement adds.

The 2019 Incentives Framework aspires to be a transparent incentive system comprised of Premium Targets which are designed to provide TIIs with the opportunity to be rewarded for their efforts above and beyond what was previously obtainable, Mapfre says. The scheme places particular focus on Compliance, Consistency and Promoting Productivity.

“Due to the Insurance Distribution Directive (IDD), a particular level of importance has been placed towards Compliance as to ensure that these incentives do not cause any conflicts of interest. Furthermore, Consistency and Promoting Productivity will be imperative in ensuring transparency and homogeneity across the whole network of TIIs and that TIIs are incentivised to work towards higher levels of performance which yield better results and even greater rewards, respectively,” the press statement says.

Through the incentive scheme, the insurer hopes to motivate intermediaries to perform at their highest potential across both Mapfre Middlesea and Mapfre MSV Life.

Mapfre Middlesea Plc (C-5553) is authorised by the Malta Financial Services Authority to carry on both Long Term and General Business under the Insurance Business Act, Cap 403 of the Laws of Malta. Mapfre MSV Life Plc is authorised by the Malta Financial Services Authority to carry on Long Term Business under the Insurance Business Act, Cap 403 of the Laws of Malta. MFSA regulates both entities.

The post Mapfre Malta launches incentive scheme for its network first appeared on The Malta Business Weekly.