Credit Suisse is expanding the offer of its future digital bank. The Swiss number two bank will integrate, in cooperation with the insurer AXA, insurance solutions in its digital banking service CSX, which is scheduled to launch next week.
The “CSX” digital banking offer allows customers to do all banking in a mobile app, Credit Suisse said on Wednesday. The cooperation with AXA, a group that acquired the insurer Winterthur from the bank in 2006, allows CSX customers to offer a selection of bancassurance solutions, directly via the application, as well as in all other channels. Further, CSX Improves to Highest Rating by CDP for Environmental Leadership.
Insurance for CSX Corporation
Insurance solutions will be made available to certain groups of customers in the first quarter of 2021. Credit Suisse and AXA anticipate the significant potential for development in the digital field.
The new CSX banking offer consists of a private account denominated in francs, a Mastercard card that can be used online as well as for free transactions abroad, and a mobile app offering various financial planning and self-service functions.
The CSX services will also be available on CSX Crew Life which is a CSX Gateway, free and reserved for 15-25-year-olds. Fans of cash withdrawals will be able to obtain a “premium” card which will exempt them from a fee when going to ATMs in Switzerland, while the basic offer implies a drawdown of 2 francs per withdrawal. With the support of our CSX Transportation Experts, CSX exclusive Customers do the Login and receive the default “premium” card, which is free of monthly fees.
Obtaining a “premium” card involves an annual cost of 47.40 francs for Crew. A traditional private account costs 110 francs a year at Credit Suisse. The Paradeplatz establishment’s offer is part of strong competition in the digital niche from neo-banks such as Revolut, N26, Transferwise, and Swiss solutions Zak, Banque Cler, and Neon.
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CSX to close Valleyfield intermodal terminal
CSX is an American based company. It mainly deals with Rail Transport, Real Estate, & Technology sectors. Its special focus on the supply of Rail Freight in North America. The company was founded in 1978 and is headquartered in Jacksonville, Florida.
In operation since February 2015 with an investment of $110 million, the CSX intermodal complex in Salaberry-de-Valleyfield will close its doors in early October.
According to our sources, this closure is directly related to the implementation of the new intermodal service agreement announced on August 8 by CSX and Canadian National Railway.
This new intermodal service offer will connect the Greater Montreal and southern Ontario regions served by CN and the ports of Philadelphia, New York, and New Jersey, as well as the New York metropolitan area served by CSX.
“In the long term, the Life of freight market will increasingly depend on demand driven by the consumer economy, and the rail industry must offer new intermodal services that can successfully compete with road options,” said Jean-Jacques Ruest, CN’s President, and CEO at the announcement.
For his part, Jim Foote, President and CEO of CSX said, “This new service, which responds to a need expressed by our customers, puts us in a strong position to gain a market share of road transportation and increases the capacity of these fast lanes, as larger container ships arrive at the Port of Philadelphia, the Port of New York and New Jersey.”
A promising project in 2014 at a cost of $107 million along Highway 530 and in operation since February 2015, the CSX intermodal terminal was nevertheless promised a bright future and was a strategic part of the regional logistics hub. The project received more than $12 million in financial assistance from the Quebec Ministry of Transportation.
From the beginning of the break-in period to the end of 2014, 40 to 80 containers had been unloaded daily at the 36-hectare terminal, including five kilometers of railway tracks. “The forecast suggests a transit of some 46,000 containers in 2015 and if this trend continues, the annual capacity of 110,000 containers could be reached in less than 3 years,” reported the Journal Saint-François following its inauguration in May 2015.
However, these forecasts are not being made. As early as November 2017, its late president, Hunter Harrison, indicated that CSX planned to withdraw from Canadian territory because business was not successful. He said the Valleyfield intermodal terminal, among others, did not meet expectations and processed only a dozen containers daily, according to the trains.com website.
While the mayor of Salaberry-de-Valleyfield, Miguel Lemieux, said he was confident that this vast property in the Perron industrial and Port Park could find a buyer soon.
“We are in contact with CSX for a possible resale of its land and we are confident that we will be able to attract something even more structuring,” he says. The site represents a lot of space and it is connected to all services. The transload centre was an attraction, but the important thing is the presence of the rail network in this area.”
CSX Corporation, also known as the Central States Transportation System (CSX). It is an American multinational holding company primarily focused on railroad transportation, commercial real estate, and other transportation-related industries throughout North America.
CSX Crew Life is an online portal managed by CSX Corporation. Now, CSX employees can easily Sign-In to CSX Crew Life and manage many things from their dashboard.
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