Ahead of the federal government's financial system inquiry, Bank of Queensland's chief executive, Stuart Grimshaw, has explained to the Australian Financial Review that the mandatory "standardised approach" to prudential regulation of bank capital puts smaller banks at a disadvantage to the four majors and Macquarie Bank. The larger banks' more sophisticated risk management processes mean the regulator allows these banks to hold far less capital. Grimshaw told the AFR he was not seeking to equal the capital levels of the big banks, but said risk weightings between banks should be closer, particularly as the mortgages BOQ sells are a reasonably simple product. Research into consumer sentiment and the adoption rates of digital applications by Effective Measure, an online media planning specialist, indicates transactional banking opportunities will arise in the "app economy" if the customer relationship is shifted to a personal device. The firm said use of demographic analysis to pair services with targeted users will create deeper customer engagement. The survey-based research also indicated a clear age-based difference between debit card users (under 24 year olds) and credit card users (35 to 64 year olds). Banks want to slash the average $35 million annual cost of card fraud borne by them, their customers and merchants by banning the use of signatures to authenticate credit card payments, the Australian Financial Review has reported. A deadline of 1 August has been suggested, and it is primarily a software upgrade so change could be pushed through quickly, according to PinWISE, a group set up by banks, credit card companies, retailers and other payment providers to promote the change. In Canada fraudulent transactions fell by 36 per cent in the three years after signatures were scrapped in 2008. Bank of Queensland has appointed an experienced former publishing executive, Margaret Seale, to its board. BOQ's chairman, Roger Davis, said Seale's extensive experience in sales and marketing, including the development of new digital content models in organisations in Australia, New Zealand and Asia, make her a valuable addition to the board. Seale is a non-executive director of Telstra, Random House Australia and New Zealand, and the Sydney Writers' Festival.