Lending App – Payday Advance USCA http://paydayadvanceusca.com/ Fri, 24 Sep 2021 04:21:51 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://paydayadvanceusca.com/wp-content/uploads/2021/07/icon-4.png Lending App – Payday Advance USCA http://paydayadvanceusca.com/ 32 32 Do loan services positively contribute to the success of small businesses and startups? http://paydayadvanceusca.com/do-loan-services-positively-contribute-to-the-success-of-small-businesses-and-startups/ Thu, 23 Sep 2021 23:36:06 +0000 http://paydayadvanceusca.com/do-loan-services-positively-contribute-to-the-success-of-small-businesses-and-startups/ Let’s face it, we’ve all considered going for a personal loan when thinking about a new business idea. Since most of us don’t have enough cash lying around in our “save for the rainy day” box, loan and loan services seem to make a lot of sense. In fact, if you can find the right […]]]>

Let’s face it, we’ve all considered going for a personal loan when thinking about a new business idea. Since most of us don’t have enough cash lying around in our “save for the rainy day” box, loan and loan services seem to make a lot of sense.

In fact, if you can find the right kind of application loan for your needs, it could be the answer to all the financial hurdles that start-ups often face. However, there are always two sides to the picture, and therefore embarking on a loan may not be a good idea unless you’ve weighed the pros and cons.

It’s always a trap if you can borrow a lot at low interest rates.

Small businesses are not stable enough to make a long-term commitment. This means that most entrepreneurs are unwilling to borrow a large amount with high interest because they are not sure that their profits would be able to cover the debt later on.

However, if you could find a personal loan with a low APR and no other hidden fees, wouldn’t that be a BIG GAIN?

The most successful loan and lending services popular with startups take a close look at a business’s needs as well as its income to determine the right terms for applicants. Hence, they allow them to qualify for higher loan amounts taking into account credit history, FICO score and other relevant factors.

Most loans for startups do not require collateral for approval

When looking for reliable loan services in the tech or automotive industry, such as car rental, like limo opportunities or even creditors for loans, it is natural to hesitate to offer collateral. .

You would already be under the burden of paying off the debt. On top of that, the thought of losing an important asset like your home or car can be quite worrying.

Fortunately, loans are a huge YES if you are considering a new business. Personal loans do not require the provision of collateral. However, the contract will highlight other financial consequences that you might face if you do not pay off the debt on the agreed terms.

So if everything looks this positive on the surface, what was the other side of the picture we were talking about?

Even if the APR is low, the fees and penalties can be quite high

Regardless of the user-friendliness of the loan terms, few lenders are willing to let applicants get away with not fulfilling the agreed contract.

Therefore, the penalties that accompany the loan are often strict. Although it differs from service to service, it is a good idea to thoroughly review all fees and penalties before opting for a loan service.

It’s reverse psychology!

Do you know what super easy loan terms can get you to do? Be Comfortable With Borrowing Money!

Most analysts see this as a reverse psychology tactic. They argue that while loans are meant to be a temporary response to your financial needs, such a service can increase long-term debt.

Take-home message for readers considering starting a new business with the help of a personal loan

Whether or not you should take out a loan is entirely up to you. Without a doubt, this is a great option when you need the cash. Especially if you are able to get in touch with the right lender, there is no reason why you should not take the financial help you need.

However, there are also good reasons for refusing the loan. In a nutshell, it might not be a good idea for everyone. If you see yourself as an excessive spender who might get carried away with the idea of ​​borrowing money, then it’s best to rethink before you end up with a worrying amount of debt.

If you enjoyed this article, be sure to check out this business credit card reference guide to learn more about how to better manage your finances and start-up costs.

Posted on September 23, 2021


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Laurel Road: Advances Digital Banking with New Checkout and Mobile App http://paydayadvanceusca.com/laurel-road-advances-digital-banking-with-new-checkout-and-mobile-app/ Thu, 23 Sep 2021 13:03:03 +0000 http://paydayadvanceusca.com/laurel-road-advances-digital-banking-with-new-checkout-and-mobile-app/ NEW YORK, September 23, 2021 / PRNewswire / – Laurel Road, a KeyBank digital banking platform providing specialty offerings for healthcare professionals and businesses, today unveiled the Laurel Road Checking account and mobile app, enabling existing members and new to more easily manage their finances and save money. while paying off student debt and doing […]]]>

NEW YORK, September 23, 2021 / PRNewswire / – Laurel Road, a KeyBank digital banking platform providing specialty offerings for healthcare professionals and businesses, today unveiled the Laurel Road Checking account and mobile app, enabling existing members and new to more easily manage their finances and save money. while paying off student debt and doing your banking anywhere, anytime.

Just six months after the launch of Laurel Road for Doctors, a new line of financial and banking products tailored for physicians and dentists, the company is further advancing as a digital banking platform with the launch of Laurel Road Checking.

This new offering is in addition to Laurel Road’s existing line of digital banking products, which includes a Student Loan Refi & Linked Savings℠ account and Student Loan Cashback℠ credit card, as well as student loan refinancing options, personal loan and mortgage, making it a complete platform for all the financial solutions that healthcare professionals and businesses need.

As part of this launch, and to also understand how young Americans bank, Laurel Road recently conducted a survey of 2,000 Gen Z and Millennials. The results show that many are up for grabs. looking for a change, as 45% of those surveyed said they wanted to change banks but didn’t know where to start and 38% said they would be encouraged to change banks because they are looking for better banking options. ‘saving.

“We know that the majority of Americans, both healthcare professionals and young Americans facing high student debt and demanding careers, seek banking and financial solutions that match their busy lifestyles and help them achieve their goals. Goals. That’s why our new checking account and mobile app are designed to make it easier for our members to manage their money, while helping to develop best practices in saving and growing their finances, ”said Alyssa schaefer, Head of Experience at Laurel Road. “As we strive to continue our efforts to deliver exceptional digital experiences with high-quality human support, it’s important to keep in mind that no one’s financial journey is stalling, which is why we’ve created products that will continue to grow with each of our members. ”

To support this desire for new banking experiences that also offer savings opportunities, Laurel Road Checking is offering discounts of up to 0.55% on refinancing your student loan with Laurel Road when you open a Laurel Road checking account and make monthly recurring direct deposits – that means hitting variable APRs as low as 1.37%. People approved for a student loan are eligible to get a reduction in the student loan rate by contributing to the checking account with monthly direct deposits, guaranteeing significant savings – and this is done online in a consistent experience. Additional benefits of opening a Laurel Road Checking account include:

  • A limited time offer of $ 500 cash bonus on direct deposits totaling $ 2,500 or more within 60 days of opening the account.
  • Overdraft protection, no minimum opening deposit and no account maintenance fees
  • World Debit Mastercard benefits including chip capabilities and no monthly or annual fees
  • Over 40,000 ATMs across the country

Members can also easily access the new Laurel Road mobile app as it is accessible on both iOS and Android. It has great features including ATM finder, mobile check deposit, P2P / Zelle contact list integration and transfers, bill payment management, and check ordering options.

Additionally, those who choose Laurel Road as their digital banking platform of choice have access to Laurel Road. Advantages!, a growing partner network of exclusive offers, discounts and benefits for all Laurel Road members, which includes partners such as P.volve, Sakara, Brooklinen, KidPass and Talkspace.

To learn more about Laurel Road Checking, Laurel Road’s new mobile app and growing digital banking offerings, visit (laurelroad.com/checking-launch).

About Laurel Road
Laurel Road began providing student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance over $ 9 billion in federal and private school loans. Laurel Road also offers a range of online graduate education loan products, mortgages and personal loans that help simplify lending through personalized technology and service. In addition, Laurel Road’s physician and dentist clients have access to Laurel Road for Doctors, a bespoke digital experience and specialist service launched in March 2021. In April 2019, Laurel Road was acquired by KeyBank, one of the country’s largest banking financial services companies. For more information, visit www.laurelroad.com. Laurel Road is a brand of KeyBank National Association offering online loan products in all 50 US states, Washington DC, and Porto Rico. The mortgage product is not available in Porto Rico. KeyBank is a member of the FDIC. Equal housing lender. NMLS ID # 399797.

About KeyCorp
KeyCorp’s (NYSE: KEY) roots go back 190 years to Albany, new York. Based in Cleveland, Ohio, Key is one of the largest banking financial services companies in the country, with assets of approximately $ 170.3 billion as of December 31, 2020. Key provides deposit, lending, cash management and financial services. investment to individuals and businesses in 15 states under the KeyBank name. National association through a network of more than 1,000 branches and around 1,400 ATMs. Key also offers a wide range of sophisticated merchant and investment banking products, such as merger and acquisition, public and private debt and equity advice, syndications and derivatives to mid-market companies in selected sectors across the United States under the business name KeyBanc Capital Markets. For more information, visit https://www.key.com/.

Media contact:
KWT Global for Laurel Road
610-908-9874
laurelroad@kwtglobal.com

Cision

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SOURCE Laurel Road


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Why Square Stock has risen today http://paydayadvanceusca.com/why-square-stock-has-risen-today/ Wed, 22 Sep 2021 19:29:29 +0000 http://paydayadvanceusca.com/why-square-stock-has-risen-today/ What happened Actions of Square (NYSE: SQ), the diverse fintech company, were going up on Wednesday – apparently aided by the market debut of Toast (NYSE: TOST), a restaurant payments specialist who was booming on the day of its IPO, reporting a healthy appetite for digital payment stocks. Square also launched a new feature for […]]]>

What happened

Actions of Square (NYSE: SQ), the diverse fintech company, were going up on Wednesday – apparently aided by the market debut of Toast (NYSE: TOST), a restaurant payments specialist who was booming on the day of its IPO, reporting a healthy appetite for digital payment stocks. Square also launched a new feature for its Cash app on Wednesday.

As of 3:17 p.m. EDT, Square stock was up 3.7%, while Toast had climbed 54% from its IPO price of $ 40.

Image source: Square.

So what

Square is a major competitor to Toast, and although Square has grown into more than a small business payments processor – having branched out into peer-to-peer payments, cryptocurrency, and small business lending – managing payments for small businesses such as restaurants remains one of its essential components.

Toast’s market cap jumped to $ 20 billion on Wednesday, indicating that investors see an important lead ahead for his business. The company provides restaurants with cloud-based software that handles everything from payments to front-to-back-home communication and other catering operations. In its last four quarters, Toast processed $ 38 billion in gross payment volume and reached $ 1.2 billion in revenue in the last four quarters.

Separately, Square said it has launched Cash App Pay, which allows merchants to accept Cash App payments with a QR code. Swiss credit also said the company was beta testing a new ‘buy now, pay later’ (BNPL) service, following its $ 29 billion acquisition of After payment weeks ago.

Now what

Interest in Toast along with Square’s shift to BNPL and merchant payments via Cash App shows that there is plenty of room for growth in the digital payments space. Toast has valued global restaurant business at $ 2.6 trillion, and that’s just one part of the market Square is aggressively targeting. As fintech companies disrupt the traditional banking industry further, Square – and its share price – still has plenty of room to grow.

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 heterogeneous! Questioning 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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New Money by Afterpay app will lend Australians $ 200 in cash http://paydayadvanceusca.com/new-money-by-afterpay-app-will-lend-australians-200-in-cash/ Tue, 21 Sep 2021 14:01:00 +0000 http://paydayadvanceusca.com/new-money-by-afterpay-app-will-lend-australians-200-in-cash/ Afterpay co-founder Nick Molnar will spot the $ 200 Australians. (Tabatha Pompier, Getty Images for BFC) Afterpay switches to buy now, pay later response to short term loans. The $ 36 billion company will allow customers to retrospectively convert their purchases into BNPL transactions as part of its new Money app. It will essentially “spot” […]]]>

Afterpay co-founder Nick Molnar will spot the $ 200 Australians. (Tabatha Pompier, Getty Images for BFC)
  • Afterpay switches to buy now, pay later response to short term loans.
  • The $ 36 billion company will allow customers to retrospectively convert their purchases into BNPL transactions as part of its new Money app.
  • It will essentially “spot” customers up to $ 200 per week, with Afterpay charging late fees on missed refunds every fortnight.
  • Visit the Business Insider Australia homepage for more stories.

The country’s largest buy it now company (BNPL) is looking to expand its offering to something more like a short-term loan.

Money by Afterpay, BNPL’s personal finance app slated to launch around November, will offer spot customers $ 200 per week as part of its latest product showcase.

Called “Retro,” the feature will allow customers to retrospectively transform an existing outright purchase into a buy-it-now and pay-out transaction, whether or not the merchant accepts Afterpay.

In practice, this means that Afterpay will effectively return customers up to $ 200 per week in cash, which they will then reimburse in four installments.

As with its other BNPL purchases, the feature is free if refunds are made on time, with the first not due for two weeks. Late fees are always charged and functionality still counts towards the customer’s spending limit.

It is also subject to certain additional requirements. On the one hand, qualifying transactions must be made on the Money debit card and must be retrospectively converted to BNPL debt within 72 hours.

Afterpay – which has been criticized for encouraging young people to take on debt – touts Money as a “money management” tool and says Retro was one of its features most requested by customers.

“As we continue to develop the Money experience, we are creating a platform for customers to change the way they think about their money,” said Lee Hatton, executive vice president of new platforms.

“Customers can forgo payday advance applications or overdraft facilities in favor of a single, fee-free solution. “

Certainly, there is no shortage of companies like this trying to reframe payday loans and payday advances for a digital generation, and in the midst of a BNPL boom.

Yet while Afterpay’s offer doesn’t hit customers with the same type of fees, which sometimes border on extortion, it is also not subject to the same type of credit restrictions that protect product users. more traditional credit. This is despite piggybacking money on Westpac’s banking infrastructure.

Instead, he found himself largely at the forefront of the no man’s land between traditional credit and predatory lending, and given the leeway to do so.

Money by Afterpay looks set to showcase that first-come-first advantage and dive even deeper into uncharted territory.

As he clashes with big tech companies, big banks, and a slew of smaller direct competitors, he might be grateful for a small open space.


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DailyPay Wage Access app gets Sotheby’s former chief compliance officer http://paydayadvanceusca.com/dailypay-wage-access-app-gets-sothebys-former-chief-compliance-officer/ Mon, 20 Sep 2021 20:10:31 +0000 http://paydayadvanceusca.com/dailypay-wage-access-app-gets-sothebys-former-chief-compliance-officer/ DailyPay Inc., a payroll service provider, has hired a compliance officer in the person of Jane Levine, who most recently worked at Sotheby’s. Levine is in a new New York-based role and will report to CEO Jason Lee. She was previously Chief Global Compliance Officer and Head of Government and Regulatory Affairs at Sotheby’s and […]]]>

DailyPay Inc., a payroll service provider, has hired a compliance officer in the person of Jane Levine, who most recently worked at Sotheby’s.

Levine is in a new New York-based role and will report to CEO Jason Lee. She was previously Chief Global Compliance Officer and Head of Government and Regulatory Affairs at Sotheby’s and was a member of the Company’s Board of Directors.

Prior to her stint at Sotheby’s, Levine spent a decade as an Assistant U.S. Attorney in the Southern District of New York City, where she prosecuted federal white collar crimes. At the start of her legal career, she was a lawyer with Paul Weiss and Proskauer.

Levine’s hiring marks a return effort from DailyPay to turn to Sotheby’s for new hires. Last year, the company brought in Vladimir Kleyman, senior in-house transaction counsel at Sotheby’s Financial Services, to become its very first general counsel.

Kleyman told Bloomberg Law last year that he was joining DailyPay for the opportunity to build a legal department at a growing company.

Sotheby’s, one of the world’s largest auction houses, experienced staff turnover following its 2019 sale to telecommunications billionaire and prominent art collector Patrick Drahl, who privatized the company in the part of a $ 2.7 billion deal.

DailyPay, founded in 2016, can be used by employees of client companies to access their wages before payday. Third-party companies like DailyPay provide money in advance of a paycheck in exchange for possible transaction fees or debit from employee accounts.

Since the coronavirus pandemic struck in early 2020, the company has increased its workforce, although a spokesperson for the company said it did not have an exact number.

On Monday, DailyPay also announced the arrival of Ryan Naples to its regulatory team as senior director of public policy. He was most recently deputy director of Tech: NYC, an industry association for the tech community in New York City, where he handled legislation, regulatory affairs and communications issues facing New York’s tech ecosystem, DailyPay said. .

Prior to that, DailyPay said Naples was the senior public policy officer for Lyft in New York City.


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Consolidation and sharing of financial information based on consent http://paydayadvanceusca.com/consolidation-and-sharing-of-financial-information-based-on-consent/ Sun, 19 Sep 2021 05:50:35 +0000 http://paydayadvanceusca.com/consolidation-and-sharing-of-financial-information-based-on-consent/ Earlier this month, India unveiled the Account Aggregator (AA) network with eight of India’s largest banks participating in the network, marking the first step towards establishing an open bank in India. AA service is available for individuals and businesses and any financial institution registered with RBI, SEBI, IRDA and PFRDA can be FIP or FIU […]]]>

Earlier this month, India unveiled the Account Aggregator (AA) network with eight of India’s largest banks participating in the network, marking the first step towards establishing an open bank in India.

AA service is available for individuals and businesses and any financial institution registered with RBI, SEBI, IRDA and PFRDA can be FIP or FIU

The resulting status of this ecosystem will depend on several factors such as the participation of all stakeholders, the security of financial data, the functioning of the customer consent architecture, the different aspects of the technology at the end of the aggregators of accounts, etc.

At present, we all deal with a number of financial service providers, each of which provides one or more services, which certainly makes it difficult for users to keep track of their finances as not all information can be provided in one place and there is no framework for consolidating all of this financial information. In order to resolve this inconvenience, in 2016, the Reserve Bank of India proposed to set up a framework for account aggregators. These account aggregators are supposed to fill this gap by collecting data from Financial Information Providers (FIPs) that hold your personal financial data like banks and providing the information about clients’ financial assets in a consolidated, organized and retrievable way. to the client or to any other financial information users (FIUs) such as loan agencies, etc. Earlier this month, India unveiled the Account Aggregator (AA) network with eight of India’s largest banks participating in the network, marking the first step towards opening the bank in India.

Participants And Creation Of The Central Information Register

AA service is available for individuals and businesses and any financial institution registered with RBI, SEBI, IRDA and PFRDA can be FIP or FIU. The network also has Technical Service Providers (TSPs) participating in the ecosystem who collaborate with other participants to provide a wide range of fintech products and services.

Sahamati is a self-organized account aggregator ecosystem collective that facilitates the ecosystem and prescribes standards, promotes interoperability and prevents participants from engaging in anti-competitive behavior, and serves as a source of information for the AA ecosystem. The AA ecosystem is designed in such a way that each FIP and CRF is able to work with each AA in the ecosystem network, rather than just those with whom they have a bilateral agreement. Once an FIP / FIU is certified and added to the central registry, any approved AA can connect with it. Subscription to the AA network is not compulsory for all participants and the network allows full, unmasked information unlike other central registers.

Collection and sharing of financial information

Financial information refers to information about all kinds of financial services available to the user, including all kinds of bank / NBFC deposits, mutual funds, stocks, insurance policies, etc. However, currently only asset-based data is available and other types of data need to be added. overtime.

Every aspect of the AA network will be guided by consent. The consent architecture includes a consent artifact to allow the AA to obtain information from the FIP and another artifact allows the FIU / client to request aggregated information from the AA. Customers should also have the ability to revoke their consent to obtain information made accessible by a consent artifact, including the ability to revoke their consent to obtain portions of that information.

Upon receipt of the request with consent and only after verification of consent, the financial information provider will digitally sign the financial information and transmit it to the account aggregator in a secure manner in real time. Customers will also be able to view a dashboard and a list of given and revoked consents in the app to track information shared with financial institutions.

Data security aspects

Data transmitted through AA is encrypted by the sender and can only be decrypted by the recipient and AA cannot see the data, it simply passes it from one financial institution to another based on instructions and consent. of an individual. Additionally, AA is not permitted to store, process, and sell customer data. This is designed to ensure that AA does not have a conflict of interest when designing processes for obtaining consent for access to user data. AA is not supposed to aggregate customer data and create detailed profiles. However, an AA application, and not the AA itself, will have access to your account balances. The decryption of this happens on the end customer’s device and very basic scans can be performed on the user’s app / device.

In addition, in order to ensure greater security and protection of information, account aggregators are prohibited from accessing user credentials, retaining or “residing” with themselves customer financial information. to which he accesses and to engage in activities such as taking charge of transactions by clients or undertaking any activity other than that of account aggregator. It also seems to suggest that account aggregators have no role in verifying or reconciling the accuracy of financial information retrieved and shared.

The AA network is mainly based on the DEPA (Data Empowerment and Protection Architecture) framework which is based on the principle that users have control over their data, which can be used for their empowerment. The business framework of an Account Aggregator is designed to be fully Information Technology (IT) driven and AAs are required to adhere to the IT framework and interfaces to ensure secure data flows from vendors. financial information to their own systems and then to financial information. users. Computer systems must also have adequate safeguards to ensure that they are protected against unauthorized access, alteration, destruction, disclosure or dissemination of records and data. AAs must be subject to an information system audit at least once every two years and a report must be submitted to the RBI.

Role in the lending space

The launch of the AA network has received a positive and welcome response among financial service providers, especially credit institutions, and it is long overdue to bring about a revolution in the nature and form of financial information sought and the way in which it is sought. they were shared with the lenders for the processing of a loan application. An applicant will now be able to share all of their financial and transactional information required by a lending institution transparently through the AA, which will provide the lender with granular information and allow them to make a faster and more informed decision. Being a fully technology-driven network, it will reduce the time it takes for FIUs to access, verify and analyze financial information. However, one problem is that in order to understand a customer’s credit behavior, a lender is expected to have all the required information and, since the customer here has control and the ability to choose what information they want. share, the client may avoid sharing particular crucial financial information that would impact the lender’s decision or they may have to resort to traditional submission again.

To conclude, at the framework and programmatic level, the account aggregator system is ready to achieve its dual objective, first to consolidate the financial information of users and give them full control over its information / data which is shared by customers. of the ecosystem. and second, digitizing the way financial information is shared with financial institutions, thereby facilitating real-time information sharing and faster delivery of financial services. The resulting status of this ecosystem will depend on several factors such as the participation of all stakeholders, the security of financial data, the functioning of the customer consent architecture, the different aspects of the technology at the end of the aggregators of accounts, etc.


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Standard Chartered Launches Smart Business Loan http://paydayadvanceusca.com/standard-chartered-launches-smart-business-loan/ Sat, 18 Sep 2021 17:45:05 +0000 http://paydayadvanceusca.com/standard-chartered-launches-smart-business-loan/ By Dipo Olowookere The Central Bank of Nigeria (CBN) has threatened to suspend the foreign exchange (FX) license of any bank involved in forex embezzlement. The central bank issued this threat in a circular dated Friday, September 10, 2021 and signed by its director of the Department of Trade and Foreign Exchange, Dr OS Nnaji. […]]]>

By Dipo Olowookere

The Central Bank of Nigeria (CBN) has threatened to suspend the foreign exchange (FX) license of any bank involved in forex embezzlement.

The central bank issued this threat in a circular dated Friday, September 10, 2021 and signed by its director of the Department of Trade and Foreign Exchange, Dr OS Nnaji.

The notice said that the foreign exchange license of banks discovered for participating in the foreign exchange fraud would be suspended for at least a year, advising depository banks (DMBs) to strictly adhere to the rules and regulations governing currency sales.

The shortage of foreign exchange in the system has forced the umbrella bank to tighten its policies regarding foreign currency transactions in the country.

In late July, the bank, after its two-day Monetary Policy Committee (MPC) meeting in Abuja, announced the stopping the sale of foreign currency to exchange office operators (BDC) on what he described as FX manipulations.

He also announced the suspension of the registration of new BDCs and these actions put the Naira under undue pressure on the black market.

The exchange rate of the Nigerian currency against the greenback was N545 / $ 1 Friday at the close of business and the central bank is not satisfied with the situation, which is why it is taking action to fix the problem.

Because of its power to sanction banks as the national banking sector regulator, the CBN, which hijacked weekly sales of foreign exchange to BDC financial institutions, pledged to deal with lenders sabotaging the bank. economy in its ongoing investigations.

“We wish to reiterate that the foreign exchange operating license of any bank or banks found guilty of pending investigations could be suspended for at least a year,” part of the disclosure said.

The central bank revealed that it was conducting “surveillance of our financial markets in general and the foreign exchange market in particular”, reminding “banks to refrain from all forms of currency embezzlement”.

He stressed that it was “their responsibility not only to know their customers (KYC requirements), but also to know their customers’ activities (KYCB requirements)”.

Apex Bank said it is issuing the warning “in view of recent developments in the market” and to remind them of their “responsibilities” as authorized forex traders.

When on July 27, 2021, the CBN banned foreign exchange sales to BDCs, it ordered commercial banks to set up a bureau de change in their branches with the aim of honoring genuine requests from retail clients with the proper documentation.


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How legacy industries can stay relevant with digital transformation http://paydayadvanceusca.com/how-legacy-industries-can-stay-relevant-with-digital-transformation/ Sat, 18 Sep 2021 15:12:43 +0000 http://paydayadvanceusca.com/how-legacy-industries-can-stay-relevant-with-digital-transformation/ The business world operates on chaos and disruption. No matter how big and how successful a business is, there is always a genius idea ready to upset the status quo and challenge the established hierarchy of things. Do you remember Sears, Roebuck and Co.? A hundred years from now, people might very well be wondering […]]]>

The business world operates on chaos and disruption. No matter how big and how successful a business is, there is always a genius idea ready to upset the status quo and challenge the established hierarchy of things. Do you remember Sears, Roebuck and Co.? A hundred years from now, people might very well be wondering the same thing about Amazon.

Blasphemous? Barely. Petty startups are rising and industry giants are falling all the time. As the leader of your business, you know this all too well. Part of your job is to make sure that your business is not swallowed up by new players in your specific industry. And make no mistake about it: there are fresh companies out there that are bent on pushing you to lose relevance. Sharks are everywhere and there is always blood in the water.

To combat this reality, it is wise to embrace technology and digital transformations as essential parts of your business plan. This is especially true for companies in traditional industries like energy, manufacturing, finance and law, which can sometimes lag behind when it comes to abandoning old ways of working.

Building a better business

All too often, traditional businesses take a if not broke mindset, fail to fix it when faced with the necessary technical upgrades and innovations. Make no mistake about it: you can be “not broken” but still seriously overwhelmed, which is tantamount to being broken. Hanging on to outdated systems and processes is like having a massive internal wound – on the outside, things look good; leaving it untreated, however, could have dire consequences.

If you’re leading a team that’s struggling to accept the benefits of new technology for a safer business future, consider taking these three steps to convince them otherwise:

  1. Use the data to understand your customer.
    Data is more than numbers on a screen. Analyzed correctly, the data companies collect about their customers – and their own operations – can produce amazing insights into trends and behaviors. This is especially true for existing organizations, which often have a wealth of data. Use this historical information to your advantage.
    “Data capabilities will be key elements in measuring progress towards innovation and will provide insight into how the business is transforming (or not transforming),” says Derrick Bowen, director of the consulting firm. Pariveda Solutions technology, using the energy industry as an example. “On this front, traditional energy companies actually have a huge advantage: Being an established player means you probably have a wealth of data that new entrants don’t have. “
  2. Adopt contactless processes where possible.
    The pandemic has changed a lot of human behavior, apparently for good. One is to avoid physical contact with strangers (and the objects they touch) whenever possible. Taking a quantum leap into modern times – and meeting the expectations of today’s customers – means offering hands-free or contactless ways of doing business, such as producing products and handling equipment that reduce the amount of energy required. person-to-person exposure.
    From buying a new home or vehicle online to paying for goods at the push of a button, people expect a safe space (and adequate distance) to do business. In fact, a GetApp survey found that 82% of consumers expect contactless experiences to continue after the pandemic.
  3. Focus on mobile technology.
    If you are not yet compatible with mobiles, you are on probation. Think how much you rely on your smartphone to consume entertainment and run business – from streaming your favorite sports and paying bills to researching new restaurant reviews and researching the cheapest gas prices. further down in town. Prioritize creating an online presence that’s easy to find and navigate for customers. The smoother the experience, the more affinity they will have for your brand. This goes for all industries, from furniture to finance.
    “Consumers expect to engage with their financial institutions via their smartphones to do everything from opening accounts to submitting mortgage applications. If you haven’t already invested in a convenient mobile loan app, now might be a good time! Said Doug Wilber, CEO of social media marketing management firm Denim Social. “But invest carefully. You want technology that enables mobile digital document uploading, automated quality assurance, and application data prepopulation using internal and external APIs. These advanced mobile offerings will soon be table stakes, as lenders see the benefit of speeding up sales cycles and reducing costs. “

It’s a world of dog-eating dogs, and the biggest beast is often not the hungriest. A Pomeranian won’t hesitate to pounce on a pit bull when the time is right. If you want to stay on top, you have to stay relevant. The only real way to do this is to stop avoiding digital transformation and making technology work for you.


Written by Rhett Power.

Follow the latest news live on CEOWORLD magazine and get updates from the US and around the world. The opinions expressed are those of the author and are not necessarily those of CEOWORLD magazine. Follow CEOWORLD magazine on Twitter and Facebook. For media inquiries, please contact: info@ceoworld.biz



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The popular Bayville, New Jersey Bank is scheduled to close this year http://paydayadvanceusca.com/the-popular-bayville-new-jersey-bank-is-scheduled-to-close-this-year/ Fri, 17 Sep 2021 21:30:31 +0000 http://paydayadvanceusca.com/the-popular-bayville-new-jersey-bank-is-scheduled-to-close-this-year/ We’re pretty attached to our banks, aren’t we? They help us move into our new home, build our business, and save for the future. Nowadays, banking has gotten pretty smart with game-changing smartphones. We are just a few clicks away from controlling our cash flow from anywhere. I think about it sometimes, did we ever […]]]>

We’re pretty attached to our banks, aren’t we? They help us move into our new home, build our business, and save for the future. Nowadays, banking has gotten pretty smart with game-changing smartphones. We are just a few clicks away from controlling our cash flow from anywhere. I think about it sometimes, did we ever think it was possible years ago? When you think about it, this is really something we would have seen on the Jetsons.

Listen to Shannon Holly Mornings on 94.3 The Point and download our free 94.3 The Point app.

Since the internet continues to do its job, brick and mortar locations are getting a little less crowded. This is the case with a local bank that many of us use and love here on the Jersey Shore.

Photo credit: OceanFirst Bank Facebook

OceanFirst Bank has proudly served us here in New Jersey since 1902, to put that into perspective, that is, the same year Theodore Roosevelt became the first US President to get into an automobile. Don’t worry, OceanFirst is still helping families with all of their financial needs, but they will consolidate the branch located at 791 Route 9 into the OceanFirst Bank branch located at 900 Lacey Road. This change will occur on December 3 of this year at 2 p.m.

OceanFirst Bank will always be able to serve you at any of its branches in New Jersey, New York and Philadelphia. They also offer remote banking options such as:

Online banking and bill payment

Photo by Pickawood Unsplash

Mobile banking with mobile check deposit

Photo by Paul Hanaoka Unsplash

debit cards

Photo by Patrick Tomasso

ATMs

Video storytellers

Photo by Joyce Busola

I just wanted to let you know about the news so that when you shop you will be notified of the change!

Here are 25 ways to start saving money today

These tips for saving money, whether it’s finding discounts or just changing your day-to-day habits, can come in handy whether you have a specific savings goal or want to save money. money set aside for retirement or just want to withdraw a few cents. It’s never too late to be more financially savvy. Read on to find out more about how you can start saving right now. [From: 25 ways you could be saving money today]

KEEP READING: Discover The Richest Person In Each State

KEEP READING: Here Are The Best Places to Retire in America


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How much do North Dakotas care about becoming millionaires? http://paydayadvanceusca.com/how-much-do-north-dakotas-care-about-becoming-millionaires/ Fri, 17 Sep 2021 19:29:26 +0000 http://paydayadvanceusca.com/how-much-do-north-dakotas-care-about-becoming-millionaires/ Who Wants to Be a Millionaire? Not too many North Dakotas, apparently. According to research by Play in the United States, North Dakota is at number 40 on a list ranking states according to their residents’ desire to become millionaires. Apparently, the search for “how to become a millionaire” has increased by 22% since the […]]]>

Who Wants to Be a Millionaire? Not too many North Dakotas, apparently.

According to research by Play in the United States, North Dakota is at number 40 on a list ranking states according to their residents’ desire to become millionaires. Apparently, the search for “how to become a millionaire” has increased by 22% since the start of the pandemic. If you are trying to become a millionaire, it is probably better to put in the effort than to think that you will win the lottery or win big on a bet in Vegas.

So how do you become a millionaire?

I mean, you could win big in the lottery or in Sin City. But there are more realistic ways to at least try to achieve the goal of achieving millionaire status. Yahoo! in fact just released a list in July of tips on how to become a millionaire. There are no get-rich-quick schemes on the list. Instead, all of the information is about being a responsible adult. According to Yahoo !, Some things a person should do to become a millionaire include:

5 ways to become a millionaire

If you are an ambitious North Dakota who wants to become a millionaire, Yahoo! has some tips for you.

WATCH: Here are 25 ways to start saving money today

These tips for saving money, whether it’s finding discounts or just changing your day-to-day habits, can come in handy whether you have a specific savings goal or want to save money. money set aside for retirement or just want to withdraw a few cents. It’s never too late to be more financially savvy. Read on to find out more about how you can start saving right now. [From: 25 ways you could be saving money today]


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