Lending App – Payday Advance USCA http://paydayadvanceusca.com/ Fri, 07 Jan 2022 14:50:05 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://paydayadvanceusca.com/wp-content/uploads/2021/07/icon-4.png Lending App – Payday Advance USCA http://paydayadvanceusca.com/ 32 32 How insight-driven engagement and app store optimization can drive discovery and demand https://paydayadvanceusca.com/how-insight-driven-engagement-and-app-store-optimization-can-drive-discovery-and-demand/ Fri, 07 Jan 2022 11:22:57 +0000 https://paydayadvanceusca.com/how-insight-driven-engagement-and-app-store-optimization-can-drive-discovery-and-demand/ The momentum in vacation spending has picked up and marketers need to capture it before it exceeds them. Besides retailers, banks and credit companies must also benefit from rising consumer spending; with the follies comes a demand for financing options. In India, credit companies (including banks) see a significant increase in installations and use of […]]]>

The momentum in vacation spending has picked up and marketers need to capture it before it exceeds them. Besides retailers, banks and credit companies must also benefit from rising consumer spending; with the follies comes a demand for financing options.

In India, credit companies (including banks) see a significant increase in installations and use of applications during the holiday season, starting with Dussehra until the new year. There is a massive spike during Diwali when consumers upgrade their homes with gadgets or furniture, send money home, or go on vacation.

As with retailers, banks and fintechs need to set themselves apart with their consumer engagement strategies. Banks can communicate with their customers at the most basic level by sending real-time updates via SMS or email. But most of them rely heavily on idea-based engagement and App Store Optimization (ASO), powerful tools to increase app visibility and app store conversions.

When banks and fintech companies embark on cutting-edge strategies such as obtaining insight into consumer history, preferences, and an ideal channel mix, that’s only the first half of the story. battle won. They have to reach the other half at the bottom of the funnel, thereby gaining successful customers.

In banking terms, you have to make sure that the app shows up when consumers start looking for loans and make sure that credit is available when the demand is there. With so many elements at stake, it is indeed a difficult marketing exercise. Finance companies and banks come under additional pressure when demand for credit increases. They need to control the quality of risk while making the most of the opportunity.

Applications must ensure greater visibility

Of course, there is a method to this madness. The right time to optimize the App Store is one month before the start of the holiday period. Data analysts can also check and learn from the app’s performance in the previous year. Seasonal keyword optimization or adding seasonally specific base terms helps in successful searches.

Most businesses use unique app store designs and messages that match the “season” to meet these changing preferences. The app can be found more easily by simply changing the keyword strategy to accommodate changing search queries. Marketers must also adapt to the context of the end of the year holidays and play on the specific marketing tools that Apple and Google are putting in place. They have to guess how long it will take to update the app.

Some Steps to Successfully Optimize Application Conversion Rates

  • Create a calendar or integrate the events into the existing marketing calendar. For example, banks and fintechs in India will mark October through December in their calendars.
  • Coordinate with the development team and prepare test ideas in advance, because if the test is not executed on time, it is difficult to expect results.
  • Make the app relevant to the season and put it in an easily understandable context. For example, when FREO, India’s first credit-focused neo-bank, has passed over 15 million installs, the company added a small ribbon on the app. This improved the trust factor and conversions improved dramatically. If the same can be done for the holiday season, the application will be clearly visible on the Play Store.

    Research has shown that apps benefit from a 15-20% increase in App Store conversion rates by getting the right seasonality. With seasonally appropriate designs, navigation becomes easier, grabs the attention of customers, and entices visitors to click on the product page and view the in-app vacation functionality.

    However, this high engagement will be short-lived if the remaining designs do not match the theme of the season and there are no unique seasonal additions to the app. If, for example, a banking app talks about interest-free credit and doesn’t give any details on its product pages, there’s a good chance it will get a negative rating.
  • Testing is essential because it involves looking at the changes made by competitors and how one can do better. This includes strategizing and planning the segment of traffic sources to test and minimize spending.
  • On the marketing side, personalizing the experience is very important. Communication, in particular, plays an important role. FREO says that while it doesn’t push its customers to take out credit right away, it constantly monitors its customers’ spending. Based on this understanding, they segment clients into different cohorts and risk profiles. It also helps analyze the type of push required to convert each customer.

    FREO, for example, found that many of her clients were comfortable reading their messages in vernacular languages, after which she translated her app into seven languages. They translated all the campaigns and updates on the Play Store in the selected languages. This type of consistency makes it possible to communicate directly to consumers the exact amount they have available or to alert them to the expiration date of the EMI.

All the steps mentioned above can only be achieved through a thorough analysis of customer data.

Data plays the main role

To achieve data-driven marketing and engagement for the holiday season, marketers need to analyze the raw data and segment the base. They can use different filters and look at the same issues with different goals. This is when ideas emerge that can help build a successful campaign.

Several data analysts spent time with raw data and studied consumer behavior by calling customers on a zoom call, which unlocked some information to capture the customer’s “aha” moment.

The data team should also perform propensity modeling and focus on high propensity segments versus low propensity segments.

Access to Google or Apple app stores for eyeballs

Showing up on the Google App Store or Apple Store is the ultimate sales booster, but there’s a lack of clarity on the framework to feature on those platforms for privacy reasons. Nevertheless, there are essential elements guidelines to appear on these leading platforms, not only for the holiday season, but any time of the year. What’s more, what is essential is having excellent reviews and ratings.

Key trends for the upcoming 2021 holiday season

This year will be more difficult than 2020 because the Covid is more worrying in some places and less in some, while in 2020 it was a kind of level playing field. Based on regional targeting, marketers need to localize their campaigns, leveraging seasonality and expectations. So, different countries have different expectations when it comes to search volumes, reviews and ratings.

The second challenge is that the App Store and the Play Store have been very active in using new tools to help sellers better engage with their audience. Depending on the market, they must find out which tool is best for them. For example, with Apple releasing with the new iOS 15, marketers may need to change their communications strategy for a market that dominates Apple. For Google Play, invest in personalized Play Store listings and monitor metadata policy, banning keywords that imply store performance and promotion through the icon, title, or developer name.

This year is more difficult for the financial sector, as the demand for small loans has suddenly increased. Reports suggest consumers are considering spending on small credits, with working from home becoming the norm. So, as they say, you have to be in it to earn it, and that couldn’t be more specific for the banks and fintechs vying for customer attention this holiday season.



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PayPal: 2021 was the year of reinvention https://paydayadvanceusca.com/paypal-2021-was-the-year-of-reinvention/ Wed, 05 Jan 2022 09:00:20 +0000 https://paydayadvanceusca.com/paypal-2021-was-the-year-of-reinvention/ Last year highlighted the digital divide, Doug Bland, PayPal senior vice president, Global Credit and Financial Services, told PYMNTS, noting that businesses large and small have no choice but to adapt to deliver the omnichannel experiences customers demand. Read his thoughts on this in the PYMNTS eBook, “In One Word: 50 Thought Leaders Summarize 2021”. […]]]>

Last year highlighted the digital divide, Doug Bland, PayPal senior vice president, Global Credit and Financial Services, told PYMNTS, noting that businesses large and small have no choice but to adapt to deliver the omnichannel experiences customers demand. Read his thoughts on this in the PYMNTS eBook, “In One Word: 50 Thought Leaders Summarize 2021”.

If 2020 was a year of adaptation, 2021 was a year of reinvention.

Governments have reinvented the way they provided assistance and relief during the pandemic and the length of time that programs were to be offered. In fact, these programs started in 2021 helping people manage their finances, both personal and professional. Government programs have been expanded to meet the challenges of an ongoing pandemic.

The long-tail economic challenges of the pandemic materialized as labor shortages and supply chain issues impacted businesses just in time for the holiday shopping season. Sadly, this happened in a season many believed to be more successful than in previous years, putting even more strain on the system.

Big companies are offering higher wages and new benefits to job applicants, while chartering planes and freighters to make sure they have products on the shelves while people shop. These pivots lead to a reinvention of employee expectations as well as inventory and supply chain management in a variety of industries.

While large companies have the resources to meet these challenges, small and medium-sized enterprises (SMEs) do not necessarily have the same luxury. They may be forced to reinvent themselves by improving their online presence, offering omnichannel experiences, offering new payment methods and finding ways to attract new customers. This might require exploring new sales channels, such as online marketplaces, or investing in new marketing – but regardless, small business owners need access to capital in a marketplace. which has tightened over the past 24 months.

The SME lending industry recognizes the need to provide easier access to capital. It is essential that lenders have access to additional data to consider during the application process from application programming interfaces (APIs) or open banking. This could enable more robust applications, which could make SMEs receiving capital even more successful. In turn, successful SMEs create a stronger global economic recovery.

This year we presented the first version of the new Pay Pal app to make it a one-stop destination for our customers to take charge of their daily financial lives. New features like access to high yield savings, built-in shopping tools for customers to find deals and earn cash back rewards, early access direct deposit and bill payment offer customers a simplified, secure and personalized experience.

We have also deployed Buy Now, Pay Later (BNPL) in new countries. This type of solution serves all of our customers. Merchants are paid up front and see an increase in average order volume, while consumers can spread their payments over six weeks. We also looked at how we help SMEs that are struggling to access capital – and we had to rethink how to help as many SMEs as possible.

Everyone has had to reinvent themselves in the past 12 months, learning from the past and planning for an unknown future. By reinventing the way we help people and businesses recover from 2020 and adapting to help them in the future, an even stronger recovery can be achieved.

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NEW PYMNTS DATA: AUTHENTICATION OF IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021

On:More than half of American consumers think biometric authentication methods are faster, more convenient, and more reliable than passwords or PINs, so why are less than 10% using them? PYMNTS, working with Mitek, surveyed over 2,200 consumers to better define this perception gap in usage and identify ways in which businesses can increase usage.


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Platforms were the theme of the 2021 IPO: will profits follow? https://paydayadvanceusca.com/platforms-were-the-theme-of-the-2021-ipo-will-profits-follow/ Mon, 03 Jan 2022 09:00:11 +0000 https://paydayadvanceusca.com/platforms-were-the-theme-of-the-2021-ipo-will-profits-follow/ Looking back on the year, it might be too much of a stretch to say that PSPCs and IPOs have sizzled in the payments space. But things have certainly – well – filtered out. And in looking back over the 12 months that brought us into another year of the great digital shift, some themes […]]]>

Looking back on the year, it might be too much of a stretch to say that PSPCs and IPOs have sizzled in the payments space.

But things have certainly – well – filtered out.

And in looking back over the 12 months that brought us into another year of the great digital shift, some themes solidified:

Payment platforms have of course caught the attention of public investors, as the private sector has brought new issues to Wall Street and markets around the world. And by digging a little deeper, the banking and professional sectors are leading the pack, with 71 and 61 registrations respectively.

But in a market environment that had seen its share of dynamism – where the highly technical NASDAQ, for example, jumped 26% over the year – it is not true that a general rising tide raised all of them. businesses.

Anecdotes abound, of course, of failed IPOs – stocks that trade below their offer prices – and flat returns. Take, for example, the super app that was listed in December at just over $ 13, ended the year at just over $ 7. Robinhood, the platform that has sought to expand the appeal of retail investing, especially among younger people, went public in July, initially selling shares for $ 38, and ended the year at a just under $ 18. The Coinbase crypto platform went public in April, with an initial “benchmark” price of $ 250, jumped north of $ 320, and most recently was listed at year-end at $ 252.

Then there are companies like Global-e Online Ltd which have seen exhilarating returns, up over 150% to $ 63, from $ 25 when it was originally listed. The company’s platform helps corporate clients tackle direct-to-consumer cross-border commerce.

Operating results matter

You get the picture, and a point-by-point list of these companies and their performance can be a bit like building a scatterplot. But overall, the typical characteristics of investing could (reasonably) apply in a world that continues to be rocked by viruses and variants. The technology is only part of the picture here. Platforms that bring together buyers and sellers – or senders and recipients, or link a range of activities under a single digital umbrella – can spark interest in the streets. But investors, on the whole, like to see the profits in hand. Black ink on the line of operations can prove elusive, at least for a while, for companies looking to be disruptors like Robinhood (to give just one name). And the specter of regulation can spark volatile sentiment for names like Coinbase.

We note that companies operating internationally – and so-called blank check companies targeting deals that in turn promote new technologies in emerging markets and beyond – continue to grab the headlines.

In last week’s examples, SHUAA Partners Acquisition I, with a focus on the Middle East, North Africa and Turkey, has filed for a quote of up to $ 200 million. In its filing with the SEC, the company said that “the key areas of the tech space that have seen the greatest share of regional business flows include e-commerce (12%), tech space (12%). %), health technologies (5%), delivery and logistics. (5%) and foodtech (5%).

The dossier goes on to state that “these are the main areas of growth and funding … benefiting from the tailwinds of the COVID-19 pandemic and the need for increased digitization. These key industries ignore the wave of digital transformation of traditional industries and businesses, which has created the need for regional solutions for cloud communications, big data, gaming, learning and digital workspaces.

Separately, Ledger Acquisition, a PSPC that filed a $ 150 million IPO last week, said it would seek acquisitions in the FinTech and blockchain spaces.

“Many blockchain companies have matured over the past decade alongside the industry. For example, there are companies that design and manufacture chips and hosting hardware to secure the blockchain. Others facilitate the exchange of digital assets and provide accessible software to create, store and use digital assets. In the private market, the blockchain industry has been one of the most attractive sectors for investment in recent years, ”Ledger said in the filing.

They say that by investing, past performance is no guarantee of future results … but we bet platforms, payments and blockchain will continue to attract PSPC and traditional listing business.

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NEW PYMNTS DATA: AUTHENTICATION OF IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021

On:More than half of American consumers think biometric authentication methods are faster, more convenient, and more reliable than passwords or PINs, so why are less than 10% using them? PYMNTS, working with Mitek, surveyed over 2,200 consumers to better define this perception gap in usage and identify ways in which businesses can increase usage.


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JVBL will offer ezines, free Mandarin lessons | News, Sports, Jobs https://paydayadvanceusca.com/jvbl-will-offer-ezines-free-mandarin-lessons-news-sports-jobs/ Sat, 01 Jan 2022 07:31:48 +0000 https://paydayadvanceusca.com/jvbl-will-offer-ezines-free-mandarin-lessons-news-sports-jobs/ The James V. Brown Library, 19 E. Fourth St., is pleased to announce that over 3,000 popular magazines can be downloaded and read on any device 24/7 starting January 3. . For the first time, residents with a library card from any library in the Lycoming County Library System can read digital magazines as well […]]]>

The James V. Brown Library, 19 E. Fourth St., is pleased to announce that over 3,000 popular magazines can be downloaded and read on any device 24/7 starting January 3. .

For the first time, residents with a library card from any library in the Lycoming County Library System can read digital magazines as well as e-books and audiobooks on Libby, the award-winning reading app of Lycoming. ‘OverDrive, or by visiting https://libbyapp.com/library/ ebranch2go.

“This is a great new benefit for residents of Lycoming County,” said Sue Mayshock, digital resources specialist at the Brown Library. “The ease of reading digital magazines on your personal device means you can take these publications with you wherever you go. It’s a safe way to read magazines and saves you the trouble of going to the library.

Here is a sample of digital magazines available:

• To live in the countryside

• HGTV Magazine

• Prevention

• News week

• Family handyman

• PC player

• American weekly

• National geography

• Good Housekeeping

• Vanity fair

• Rolling stone

Digital magazines do not have waiting lists or reservations, do not count towards payment limits, and offer readers the flexibility to renew their selections. Brown Library users can also download magazines from Libby for offline use. Readers can browse magazine listings in the app and search by format to find available titles.

Named one of Popular Mechanics’ 20 Best Apps of the Decade, Libby seamlessly connects novice users and experienced readers to Libby titles. This locally curated collection features eBooks, audiobooks and digital magazines, including bestsellers and new releases. Readers of all ages can choose from virtually any subject ranging from mystery, romance, kids, business and more.

Readers can browse eBranch2Go, instantly borrow titles, and start reading or listening for free with a valid library card. This service is compatible with all major computers and devices, iPhone, iPad, Android phones and tablets, and Chromebooks. Thanks to Libby, readers can also “Send to Kindle”. All titles will automatically expire at the end of the loan period and there are no late fees. Readers can also download titles from Libby for offline use.

To start enjoying magazines, eBooks, and audiobooks, download Libby or visit https://libbyapp.com/library/ebranch2go.

The James V. Brown Library is also partnering with NeuLingo to provide free virtual Mandarin lessons for families.

NeuLingo lessons are delivered live in a secure online environment by native teachers who make Chinese interactive and engaging for children. Through themed activities, children will learn about Chinese language and culture while teachers guide them through the world’s most illustrious cities such as Beijing, Shanghai and Xi’an, both in ancient and modern times.

They will also virtually experience how people celebrate traditional festivals in China such as Chinese New Year, Dragon Boat Festival and more. Watch your child’s face light up as they learn about the stories behind these festivals and cities. Most importantly, they will have the chance to engage in learning Chinese and socialize with other children in our community.

China has a fascinating history, and Chinese culture is one of the oldest cultures in the world. Now the children of our community can learn a culture that began thousands of years ago in the comfort of their own homes. Join us on a fantastic journey to learn Chinese culture with NeuLingo.

This six-week program is open to families with children aged 6 to 12. Each lesson will be taught by a native speaker of Mandarin and includes games, interactive activities, and cultural activities.

Registration is required for the Zoom link and can be done online at https://calendar.jvbrown.edu. Registration opens at 10 a.m. on Tuesday January 25 and classes begin on Tuesday February 8.

It is best to attend all six sessions. If the course is full, please add your name to the waiting list. Families on the waiting list will be given priority the next time the course is offered.

This program supports the PA Forward State initiative by providing social and civic literacy opportunities for learning and by highlighting the transformative nature of public libraries within a community. Libraries contribute to education, employment, entrepreneurship, engagement and empowerment, but are often overlooked as catalysts for powerful individual and community change.

The James V. Brown Library is open to navigation and can be picked up from 10 am to 6 pm Monday through Friday; and from 9 a.m. to 2 p.m. on Saturday. To reserve, visit www.jvbrown.edu or call 570-326-0536 during library hours. The library is also open for the use of public computers and for services such as printing, faxing, copying and scanning. Passport walk-in services are available. The James V. Brown Library is PA Library of the Year 2021.

The James V. Brown Library, 19 E. Fourth St., Williamsport, Pa., Is the place to go to learn, connect and grow. Founded in June 1907, the library champions the love of reading, opens new doors to lifelong learning, provides a refuge for those who seek out and ensures the preservation of public library services for future generations. The library has over 225,000 visitors per year and distributes half a million articles per year. A member of the Lycoming County Library System, the James V. Brown Library participates in PA Forward, a statewide initiative to promote literacy in our communities to ensure a better future for all.

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U.S. growers see bright spots in 2022, fear funding crunch https://paydayadvanceusca.com/u-s-growers-see-bright-spots-in-2022-fear-funding-crunch/ Thu, 30 Dec 2021 19:29:00 +0000 https://paydayadvanceusca.com/u-s-growers-see-bright-spots-in-2022-fear-funding-crunch/ U.S. oil and gas producers find themselves in a dilemma at the end of 2021: commodity prices are looking to increase production in 2022, but funding is becoming increasingly difficult to find. According to a report released this week by the Federal Reserve in Dallas, Texas, 75% of the 134 oil and gas companies that […]]]>

U.S. oil and gas producers find themselves in a dilemma at the end of 2021: commodity prices are looking to increase production in 2022, but funding is becoming increasingly difficult to find.

According to a report released this week by the Federal Reserve in Dallas, Texas, 75% of the 134 oil and gas companies that responded to the Fed’s questionnaire said they intended to increase their capital budgets by 2022.

Only 16% said they would keep their budgets stable, while only 8% planned to cut their budgets.

Respondents to the survey, which includes the major producing regions of Texas, Louisiana and New Mexico, were optimistic about oil prices for the coming year, with 52% of respondents saying they expected West Texas Intermediate crude to average between $ 70 and $ 80. per barrel in 2022.

Another 22% said they expected prices to average between $ 80 and $ 85 a barrel.

The outlook was not all rosy for producers, with a number of interviewees telling the Dallas Fed they feared securing adequate funding for operations in a sector that has become increasingly unpopular among banks and other sources of credit.

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“Political pressure forcing available capital out of the energy sector is a problem for everyone. Banks view lending to the energy sector as “political risk”, “one respondent said.

While some respondents blamed Wall Street and a new emphasis on environmental and social governance among shareholders for some funding issues, others directly blamed the Biden administration’s adoption of the energy transition.

“It is impossible to make realistic estimates of capital expenditure budgets given the policies of the current administration and, for this reason, capital expenditure commitments are small and limited,” said one respondent.

“Why would a rational person feel comfortable with increasing capital commitments beyond minimum maintenance requirements at most when federal candidates are hoping for bankruptcy and the shutdown of the oil and gas sector?” ? “


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2022 Gold Lending Portfolio Outlook: Broad Scope of Gold Lending Lending for NBFCs and Banks, According to Muthoot Finance MD | Gold News https://paydayadvanceusca.com/2022-gold-lending-portfolio-outlook-broad-scope-of-gold-lending-lending-for-nbfcs-and-banks-according-to-muthoot-finance-md-gold-news/ Wed, 29 Dec 2021 10:17:07 +0000 https://paydayadvanceusca.com/2022-gold-lending-portfolio-outlook-broad-scope-of-gold-lending-lending-for-nbfcs-and-banks-according-to-muthoot-finance-md-gold-news/ New Delhi: Gold, still viewed as a safe haven for investments in uncertain times, is likely to be the first haven for investors amid the ongoing pandemic. George Alexander Muthoot, MD, Muthoot Finance in an exclusive conversation with Reema Sharma of Zee Media said, as the nascent economic recovery slowly takes root, 2022 will be […]]]>

New Delhi: Gold, still viewed as a safe haven for investments in uncertain times, is likely to be the first haven for investors amid the ongoing pandemic.

George Alexander Muthoot, MD, Muthoot Finance in an exclusive conversation with Reema Sharma of Zee Media said, as the nascent economic recovery slowly takes root, 2022 will be an important year to watch amid the challenges posed by new variants of Covid.

Although the coronavirus pandemic and the spread of the Omicron variant have once again come to haunt investors, the recovery in India’s economy will keep sentiment buoyant.

“As the economy returns to normal, demand for credit from the MSME sector has increased and we are optimistic that the 15% growth forecast for fiscal 22 will be achieved,” said George Alexander Muthoot.

He further added that gold loans emerged as the easiest and fastest source of credit for the business world during the pandemic, people pledged their adornments to get short term loans.

“India is the biggest consumer of gold and we believe there is huge potential for gold lending for NBFCs and banks. While the opportunity for gold loans will only grow larger in the years to come, we also aim to become a one-stop-shop for our consumers by offering them a variety of financial services, whether it is loan to gold, personal loan, mortgage, money transfer. , insurance, consumer durable loans / 2W / 4W and gold coins. We have launched several digital initiatives such as mobile app, point of sale, online gold lending, gold lending via prepaid cards for disbursement and repayment and 2022 will also see continued attention on the digital front, ”said.

He added that the gold finance industry is also excited to witness the emergence of trends such as the digitization of gold, lending against digital gold, secured gold credit cards and gold wallets in the coming year.

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Five government agencies join hands to hunt down money lending apps that harass and dishonor Nigerians https://paydayadvanceusca.com/five-government-agencies-join-hands-to-hunt-down-money-lending-apps-that-harass-and-dishonor-nigerians/ Mon, 27 Dec 2021 13:35:28 +0000 https://paydayadvanceusca.com/five-government-agencies-join-hands-to-hunt-down-money-lending-apps-that-harass-and-dishonor-nigerians/ While many Nigerians report the harassment of money lenders, especially internet loans, the Nigerian government has formed a committee to end it. The Federal Competition and Consumer Protection Commission will chair the committee (FCCPC) Calling relatives, posting names and photos and other methods are part of the cuckoo approach by money lenders The Federal Competition […]]]>
  • While many Nigerians report the harassment of money lenders, especially internet loans, the Nigerian government has formed a committee to end it.
  • The Federal Competition and Consumer Protection Commission will chair the committee (FCCPC)
  • Calling relatives, posting names and photos and other methods are part of the cuckoo approach by money lenders

The Federal Competition and Consumer Protection Commission (FCCPC) has announced plans to prosecute pawn shops who harass Nigerians.

FCCPC chief Babatunde Irukera informed the Nigerian News Agency (NAN) of the plans on Sunday, December 26, and it will be joint operations involving five government agencies.

The joint operation will target businesses operating illegally and those harassing customers.

Money lenders have used various approaches to get their money back Credit: Ismel
Source: UGC

Vanguard reports that the team includes representatives from the FCCPC, the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC).

Read also

Nigeria won’t let China take its assets despite huge debts -DMO

Others come from the National Information Technology Development Agency (NITDA) and the National Human Rights Commission (NHRC).

Punishments

Irukera said:

“The committee was tasked with coming up with rules that money lending companies must follow.

“They will shut down businesses and hire app stores to shut down apps that violate and are abusive. We are also going to write draft regulations and background information for all of these money lenders to provide information so that people know who they are.

“Some of them are just apps that we don’t even know who the promoters are. We will provide them with certain frameworks to which they must conform “

Regarding complaints about the services of insurance companies, Irukera said that a memorandum of understanding with the National Insurance Commission (NAICOM) is underway.

The head of the FCCPC has given early 2022 as the delivery schedule for the bilateral agreement.

Read also

Uber, Bolt in Trouble as House of Reps Prepares to Investigate Nigeria Rideshare Firms Over Tax Compliance

Many loan companies in Nigeria are illegal

In a related story, the Nigerian government insisted that many loan companies operating in Nigeria are illegal and are not registered with the relevant authorities, so their activities are illegally

These loan companies are known for their exorbitant interest rates, invasions of privacy and blatant invasion of privacy.

Some of the companies involved in these illegal acts include NowCash, Moniloanplus, 9credit, Monicash, among others.

Source: Legit.ng


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Harnessing growth: EEMEA innovators in action https://paydayadvanceusca.com/harnessing-growth-eemea-innovators-in-action/ Sat, 25 Dec 2021 12:00:58 +0000 https://paydayadvanceusca.com/harnessing-growth-eemea-innovators-in-action/ 1 Bloomberg ESG disclosure score (definition and methodology). Bloomberg’s ESG data coverage includes more than 11,800 companies; 410,816 active titles; more than 100 countries; 88% of global market capitalization; and over 2,100 ESG data fields (including third party data) as of 11/30/2021. Bloomberg’s ESG Disclosure Score is a score of 0 to 100 calculated using […]]]>

1 Bloomberg ESG disclosure score (definition and methodology). Bloomberg’s ESG data coverage includes more than 11,800 companies; 410,816 active titles; more than 100 countries; 88% of global market capitalization; and over 2,100 ESG data fields (including third party data) as of 11/30/2021. Bloomberg’s ESG Disclosure Score is a score of 0 to 100 calculated using a subset of raw data points that Bloomberg collects on the ESG. It is designed to measure the transparency of companies’ disclosure of ESG information published by the company. It is therefore not a performance score but a score based on the amount of data declared. This rating methodology is designed to measure the robustness of the disclosure of ESG information by companies in their reporting / in the public domain. They are suitable for different industrial sectors and the measurements are weighted according to their importance to users in that sector. For more details see here.

2 Source: VanEck Research, Morgan Stanley Research. Data as of October 26, 2021.

3 Source: National Bank of Kazakhstan, EFG Hermes estimates for fiscal year 2020.

4 Over the next 10 years or so, fintech is expected to have a markedly positive social impact, helping lift tens of millions of people out of poverty, creating jobs, providing access to credit, and introducing savings and investments. basic for the rural poor. And it will be with little or no negative impact on the environment.

5 Source: VanEck research. Data as of December 2020.

6 Source: EFG-Hermès, company data. Data as of November 17, 2021.

seven Source: VanEck research, corporate data, Bloomberg, ISS. Data as of November 30, 2021.

8 ESG World – for more information on ESG World and Kaspi.kz disclosures, please click on here.

9 Source: Revolutionary Energy. 2021.

Please note that VanEck offers investment products that invest in the asset class (s) or sectors included in this commentary.

* All company weightings are as of November 30, 2021. Mention of an individual security does not constitute a recommendation to buy or sell the security. The titles and holdings of the strategy may vary.

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1 growth share poised to win big in 2022 https://paydayadvanceusca.com/1-growth-share-poised-to-win-big-in-2022/ Thu, 23 Dec 2021 13:30:00 +0000 https://paydayadvanceusca.com/1-growth-share-poised-to-win-big-in-2022/ Fintech stocks were hit hard in 2021, with many stocks like Pay Pal (NASDAQ: PYPL) and Robin Hood (NASDAQ: HOOD) fall of more than 38% from their historic highs. Even established companies like To block (NYSE: SQ) have fallen 40% from their highs at the time of writing. Popular fintech and lending platform SoFi Technologies […]]]>

Fintech stocks were hit hard in 2021, with many stocks like Pay Pal (NASDAQ: PYPL) and Robin Hood (NASDAQ: HOOD) fall of more than 38% from their historic highs. Even established companies like To block (NYSE: SQ) have fallen 40% from their highs at the time of writing.

Popular fintech and lending platform SoFi Technologies (NASDAQ: SOFI) was no exception, down 41% from its record. It is now trading at a record high of just 12 times sales. This dismal stock market performance is not, however, indicative of SoFi’s commercial performance. The company has experienced strong growth while making strides to improve its business, turning it into a very attractive stock. Here’s why I think SoFi could win big in 2022.

Image source: Getty Images.

Growing financial services

SoFi started out as a lending platform for consumers to get personal and student loans, but has since grown into an all-in-one app for consumers to manage all aspects of their financial lives. SoFi now offers investment services, debit and credit cards, and even insurance.

This mixture attracts many customers. SoFi’s membership in the third quarter saw its largest sequential increase in absolute terms in company history, and the platform now has 2.9 million members using at least one service. In the third quarter, the number of members of the company increased by 96% compared to the previous year. While this is a bit slower than the 113% growth in the second quarter, it is still astonishing.

What really excites me is that SoFi has a clear focus on financial services. SoFi customers use over 3.2 million financial service products, far more than the million loan products they use. For example, if a consumer used both SoFi Invest and SoFi Money, that would count as two products. What is even more impressive is that the growth of financial services products is up 179% year-over-year, while the growth of lending products has only increased by 15% per year. compared to a year ago.

This is important because financial services offer more reliable sources of income than loans. With loans, the business faces a much higher credit and default risk than simply offering a platform where consumers can invest. The same goes for Galileo, a business-to-business service that provides the infrastructure for things like direct deposit, mobile payments, and account transfers. Galileo is used by big investment platforms like Robinhood, Chime and others and has over 89 million accounts. It has seen rapid adoption, increasing its number of accounts by 80% year over year in the third quarter. The growth in this segment, along with the gains in the financial services segment, tells me that SoFi’s business is becoming more stable – something I like to see.

Expanding Relationships

In addition to quickly attracting customers to its financial and business-to-business segments, existing customers are increasingly using SoFi products. For example, although the number of customers increased by 96% in the last quarter, the total number of products used increased by 108%, which meant that its customers were adopting multiple products. Indeed, with 4.3 million products, the average SoFi customer uses 1.45 products. This has been steadily improving since the start of 2019, when the average customer was only using 1.1 products.

Due to this additional product adoption and the company’s ability to rapidly grow its brand, SoFi’s net loss decreases. The company posted a net loss of $ 30 million in the third quarter, which isn’t pretty, but it’s down from $ 43 million the year before. As the company’s brand continues to spread with more and more customers, it could get even better.

The risks for an outfielder

Risks remain in this activity; one of the main ones is exposure to the loan market. The business still derives the majority of its income from loans, which can be a risky business. I’d like to see the growing adoption of Galileo and financial services, neither of which have the credit risk associated with lending. This can ensure the stability of SoFi’s finances.

If SoFi can continue to do this until 2022, I think it could thrive. The company is experiencing strong growth and financial data shows that things are moving in the right direction. Now that it’s trading at low multiples, I think SoFi has the potential to be a big winner not just in 2022 but over the next five years.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.


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Berkshire Bank appoints Nina Charnley to its board of directors https://paydayadvanceusca.com/berkshire-bank-appoints-nina-charnley-to-its-board-of-directors/ Tue, 21 Dec 2021 16:37:05 +0000 https://paydayadvanceusca.com/berkshire-bank-appoints-nina-charnley-to-its-board-of-directors/ Berkshire Bank has named former TIAA and Bank of America executive Nina Charnley to its board of directors. Charnley was elected an independent director to the boards of the bank and its parent company, Berkshire Hills Bancorp, effective December 16, the bank said in a statement. “We are delighted to welcome Nina to our board […]]]>

Berkshire Bank has named former TIAA and Bank of America executive Nina Charnley to its board of directors.

Charnley was elected an independent director to the boards of the bank and its parent company, Berkshire Hills Bancorp, effective December 16, the bank said in a statement.

“We are delighted to welcome Nina to our board of directors,” President David Brunelle said in the statement. “Nina brings considerable experience with her background in digital transformation, customer experience, financial and risk management, which will provide valuable insights to our Compensation, Compliance and Regulatory and Corporate Responsibility Committees and of culture. “

Charnley was Senior Managing Director and Head of Enterprise Customer Experience at TIAA, a Fortune 100 financial services company with more than $ 1,000 billion in assets under management and five million customers. In this capacity, she was a member of the management group and the digital transformation team. Charnley has also chaired the company’s customer experience board.

While at TIAA, Charnley led the strategy, development and execution of a portfolio of technology projects to launch the company’s mobile app and digital bank, according to the release. Prior to joining TIAA, Charnley had spent most of his career as an executive at Bank of America and its predecessors, managing a portfolio of national and regional businesses, including a de novo sustainable energy lending program. She also created the strategy, infrastructure, model and accountability matrix for Bank of America’s diversity and inclusion program, the statement said.

Charnley is currently on the advisory boards of the Women’s Business League and Budget Buddies.

“Nina’s three decades of work for Fortune 100 financial services companies will advance governance and board oversight of our BEST plan to improve financial performance and customer experience,” said Berkshire CEO Bank, Nitin Mhatre, in the press release. “I look forward to working with Nina to support our vision to be the leading socially responsible community bank in New England and beyond. “


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