Category Archives: Banking

Banking

Retail banking on mobile device

This application brings various features like online secure banking, payment of utility bills, monitoring portfolios, mini bank statements, fund transfer within same bank account or other bank accounts to the hand held communication devices. Thus, m-commerce is a very necessary update that bridges the business transactions and the busy life. With this feature enabled on the cell-phones, the users can avoid the overdue payments and therefore, plan up an organized financial discipline for themselves.

Business Challenge:

Internet and mobile: These are two technological advancements that have profoundly affected human behavior in the last decade. This has lead to various mobile data services being offered but the challenge had been to ensure the security of data being communicated over the network and that residing on the mobile phone.

Mobile (m-) banking (one of the first areas of commercial transaction on the wireless internet) has had similar concerns and the growth has therefore been limited.

The solution required the user to carry out entire set of retail banking activities which till now were only possible over the wired network.

Benefits:

The solution provides online secure banking to the user for managing their accounts using their mobiles thereby giving an enhanced user experience every-time he logs in. It also provides the user to conveniently pay their bills and manage portfolios using their mobile devices.

The extension of the internet banking is the m-banking where the customer requirement is reduced from having a fully fledged PC to a bare mobile phone. The banking transactions now are not only on the finger tips but also within one’s pocket or purse. It also enables the transactions without any time limitations on geographical issues.

The most common technologies are

1. Interactive Voice Response

2.Short Message Service

3.Wireless Access Protocol

4. Standalone Mobile Application Clients.

The biggest decision that banks need to make is the channel that they will support their services on. The m- banking scenario is not universal and its structures and purposes vary from country to country. The various financial functions that can be operated using the mobile phones are micropayments to merchants, bill-payments to utilities, P2P transfers between individuals, and long-distance remittances.

The m banking method is generally less expensive than any of the alternatives being available. It is also said by Mercatus, the world’s premier university source for market-oriented ideas that, banks that offer mobile financial services can increase their new customers’ acquisitions by as much as sixty percent. The mobile adoption is increasing the past techniques of online banking, ATMs and debit cards.

About Endeavour Software Technologies

Endeavour provides strategic consulting and technology services with an aim to deliver end to end mobile solutions across different mobile platforms.  Specializing in iphone application development, it can enable businesses in the manufacturing, media, print, healthcare, consumer solutions, Telecom and Business Intelligence verticals.

Banking

Offshore Banking for Asset Protection

The term offshore banking is closely linked to concepts like international finance and tax planning. Anyone who has ever complained about the high rate of taxes in one’s country knows the benefits of transferring one’s money to an offshore bank to save on taxes. Basically, offshore banking refers to banks that are located far from the country of residence of the depositor. Typically offshore banks are located in low tax jurisdictions or in countries which levy no taxes at all.

The main benefits that offshore accounts afford the depositor include low or no taxes, easy access to their deposit, and complete privacy – to the extent that offshore banks do not have to divulge account information to the tax authorities in other countries. This however, does not mean that that the offshore bank authorities are under any legal obligation to the depositor to withhold such information from the other authorities. In fact, it is this aspect of bank confidentiality which has drawn much bad press in the post September 11th phase; especially when there have been calls for greater transparency in financial dealings worldwide. The advocates of offshore banking have however criticized this move saying that the security measures are in fact, motivated by interests of domestic banks, which feel threatened by the offshore ones.

In the minds of the layperson, the term offshore banking often generates a slew of negative images like money laundering, international crime syndicates, and mafia bosses and today, even with international terror outfits. But in reality offshore banks in the Cayman Islands, Bermuda, Channel Islands, and Luxembourg, as well as other locations are not getting rich conducting business with criminals. Rather the true scenario is the exact opposite, most offshore banking nations are actually characterized by honest courts and competent administration having a healthy respect for international law. Majority portions of the money deposited in offshore accounts happen to be institutional with very little belonging to private individuals since it is more difficult for individuals to open accounts than institutions.

A most important element of offshore banking is the advantage of asset protection that it provides to the depositor. For someone living in a politically and economically unstable country, having offshore accounts is a great way to protect one’s assets. Most offshore banks are situated in politically, socially, and economically safe havens and thereby, provide the added benefit of asset protection to their clients. For anyone who fears that war, a political coup, or economic crisis can lead to one’s assets being frozen or seized can consider offshore banks that may afford one much better protection.

Peter Robertson is an author who writes useful articles on offshore company, offshore banking, asset protection, and related topics for those who are interested in offshore company formation. For more information on offshore company, and offshore banking, you can also visit www.carloscevola.com.

Banking

Take Advantage Of Online Banking

Business is something which a ton of individuals could be good at it. If you have the ability to manage and run a sizable or even small company than you’ll be able to handle a lot of stress. The same applies to people who are able to deal with their finances and keep them under control. You will discover a great deal of steps that you need to take when having to pay bills and making sure you keep the money situation from getting out of control.

One thing that everybody needs to learn just how to try and do is use a bank which is reliable and that may have all of the right features for you to be able to use. This would mean that you will need to search for something that seriously isn’t going to charge you a ton of money if you overdraft or that is able to present you with a loan that has a affordable interest rate. It also assists to rely on online banking when you want it the most.

This is something which has been around for a couple years and both big and small banks will be using it for all of the customers which they have. The good thing about this is that it’s going to provde the freedom to help keep a watch on the financial records you have and to know how much money you’ve available.

Remember the times when you would have to wait on hold for ten minutes until you could speak with somebody who will be able to answer the questions you needed to ask about your account? Those days have disappeared. Now you only have to type in the username and password and look to see for yourself.

This feature will allow you to check during any time of your day or night. It is going to also be able to tell you where the cash was spent and just how much you have accessible in each account.

This is something that everybody will need to take advantage of and that could really allow you to keep track of your money. Just make sure to compare online banks and discover one of the best one that will work for your family or business.

It is important to know how to Compare Online Banks so that you can find the best one for your finances. Discover how Compare Banks can give you the best tips.

Banking

Chinese Banking Sector Poised For Robust Growth

As per our new research report China Banking Sector Analysis, China’s banking industry has undergone tremendous changes during the last 60 years. Despite the heavy slowdown in the economy, the banking sector continued to post healthy growth in the recent years. As per our estimations, the banking assets are forecasted to grow at a CAGR of around 14% during 2011- 2014.

The main reasons for the growth of this industry are the increased demand for household as well as corporate financing and improved economic conditions in the country. Besides, various other strong fundamental drivers discussed and analyzed in the report will enable the banking assets to sustain its upward growth trend in the coming years.

Further, our report has analyzed that, despite fast growth, Chinese banking industry is suffering from many limitations. An underdeveloped credit system, a lack of risk management, policy lending, and above all, poor governance and a lack of transparency, are some of the fundamental problems that are still troubling the countrys banking industry.

Apart from this, our report has identified emerging trends and potential areas, such as e-banking, growing acceptance of payment cards, mortgage financing, rural banking, increasing loans to small and medium enterprises, which will decide the future of the banking industry in the country.

Besides, our report discusses each of the banking performance indicators in-detail. Under loans and deposits section, the reports talks about each of the verticals, such as corporate and household loans. Our report also features forecast for each key-banking segment to provide better understanding of the banking sector in the country.

Our report China Banking Sector Analysis” is an outcome of extensive research and detailed study of banking sector in China. The report discusses each indicator of the banking system performance in detail, supplemented with quantitative data, and prudent analysis. It also tells the clients direction, in which, the banking sector is likely to move in coming years. Additionally, the report analyses the pattern of macroeconomic variables and their impact on the banking sector.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM315.htm

Check DISCOUNTED REPORTS on: http://www.rncos.com/promotion.htm

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.

Banking

Turkish Banking Sector Poised For Robust Growth

As per our new research report Turkey Banking Sector Forecast to 2012, Turkey’s financial sector was least affected by the global financial crisis compared to other sectors and foreign financial sectors. Due to the robust infrastructure, liquidity structure, capital sufficiency, risk management and internal audit systems, the countrys financial system did not shake due to the global financial crisis. Despite the heavy slowdown in the economy, the banking sector continued to post healthy growth in the recent years. As per our estimations, the banking assets are forecasted to grow at a CAGR of around 10% during 2011- 2014.

The main reasons for the growth of this industry are the increased demand for consumer as well as corporate financing and improved economic conditions in the country. Besides, various other strong fundamental drivers discussed and analyzed in the report will enable the banking assets to sustain its upward growth trend in the coming years.

Further, our report has identified emerging trends and potential areas, such as e-banking, growing acceptance of payment cards, islamic banking, automobile loans, mortgage financing, which will decide the future of the banking industry in the country.

Apart from this, our report discusses each of the banking performance indicators in-detail. Under loans and deposits section, the reports talks about each of the verticals like corporate, personal loans, and SME loans. Moreover, it has further segmented personal loans in to various segments like: housing, automobile, credit card, and general purpose loans. Our report also features forecast for each key-banking segment to provide better understanding of the banking sector in the country.

Our report Turkey Banking Sector Forecast to 2012 is an outcome of extensive research and detail study of banking sector in Turkey. The report discusses each indicator of the banking system performance in detail, supplemented with quantitative data and prudent analysis. It also tells the clients direction, in which, the banking sector is likely to move in coming years. Additionally, the report analyses the pattern of macroeconomic variables and their impact on the banking sector.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM177.htm

Check DISCOUNTED REPORTS on: http://www.rncos.com/promotion.htm

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.

Banking

Off Shore Services: Perfect Banking Options

You might be trying to find out the best methods using which you will be able to safe guard your assets and your hard earned money without facing any issues. There are many options actually in front of you but most of the people might not be ready to accept these options due to various security reasons and the laws that are prevailing in ones country. You might have at least heard about the facilities provided by certain banks to open an account in foreign countries wherein Swiss bank account can be considered as one of the most famous one that is widely accepted by the people around the world.

Most of the people might be even thinking about investing in other countries but you will have to definitely check with the political conditions prevailing in one country before signing the agreement as it determines the security of your assets without facing any kinds of issues with the passage of time. Switzerland can be considered as one of the most famous countries located in the European territories wherein the political and the economical conditions are almost stable without facing any kinds of issues with the passage of time. There are many people wondering about the confidentiality of the deals and these can be easily carried out without facing any issues with time.

Also you need not have to worry with respect to the distance as the banking can be carried out with the help of internet using the secured banking websites wherein identify breach will never happen. You will be getting all the up to date information with respect to your account and also you might be really surprised to know about the interest rates that are being offered by the banks to the customers even for the savings accounts. It is also easy for you to move on with your ventures in the international markets if you are opening an international bank account wherein the money can be used without facing any issues any time irrespective of your location. There are even many options present in front of you while selecting the right bank account rather than getting hold of the most common savings account and this can be known only after discussing your requirement with the bank personals directly on time.

Offshore Services is a Swiss based leading company that offers offshore company formation and swiss bank account services online. Please visit our website to know more details.

Banking

Banking Online On Your Computer

Banking online on your computer is a convenient way of doing your banking. It has been growing over the years as more people adopt this way of conducting their banking. It has many benefits and very little disadvantages overall. Emergency situations such as immediate transfers of funds can be done immediately without having to rush out at inconvenient times of the day. Activities such as paying accounts are also simplified and conducted in a manner that is easy to track at any time the need arises.

This allows a person to do their banking in a manner that suits their time and convenience. You do not have to struggle with long queues at the branch because you can simply connect to the internet and start working. The inconvenience of travelling is also eliminated which also leads to saving money in the form of saving on petrol.

This activity can be performed from anywhere in the world at anytime of the day and allows a person to pace themselves and incorporate this activity into their routine. A home computer allows you to do this from the comfort of your home in a relaxed and calm manner. A laptop allows you to do this at regular intervals that are convenient to you especially if you travel frequently.

There is an unlimited array of activities you can perform on the account without too much restriction. One of the few things you are unable to do is sign any paper work that might need to be signed. However you would be able to do most of the things that people who physically visit the branch are able to do.

Using your own computer ensures that confidential information is protected because you are the primary user so you can decide who else uses it. You have unlimited access to it because as the owner you are free to use it whenever you want to. Hence you will not have to deal with the inconvenience of waiting in line for your turn to use it.

The wear and tear on the machine is also reduced because it does not get subjected to heavy use. This limits the possibility of it breaking down or malfunctioning which might prevent you from accessing your account when you need to. Hence this will help with dealing with emergency situations that need immediate attention.

One is able to check and update their banking and other details if they need to. You would not have to necessarily wait for an opportunity to physically go to the branch to perform this activity. This helps expedite the process and eliminates the anxiety of waiting for an opportune time to visit the branch.

You are also able to track any activity that might have taken place in your account. This is handy because should you suspect that any unauthorized activity might have taken place you can check immediately. You can spend relaxed nights at home or wherever you might be knowing that your account is secure.

Global Financial institution offering commercial and personal banking services including online banking, credit card, loans, business plan advice and more.

Banking

Getting A Job In The Uk Banking Sector

Banking is one of the most sought after sectors where people want to apply for jobs. If you are looking for a job in the UK banking sector you should be prepared for tough competition and a long recruitment process. Banks often have hundreds of candidates for the same job and therefore you need to make yourself stand out from the crowd. The banks usually ask candidates to take a competency assessment test, two rounds of interviews, minimum, and the whole process has been known to take up to 6 months. Applying for a job in the banking sector you will need to have the right mix of strong analytical and banking skills. The idea of service is prominantly highlighted by the banking industry and service is the TOP ingredient of success in this sector. A high school diploma or equivalent is the most common educational requirement for the more junior roles.
So those looking for jobs in this sector should brush up their skills by following some tips which are given below to achieve what you want and more importantly what your dream career will be.
First of all there are two methods to apply for jobs i.e. via an agency or directly to the employer. Please note it is not advisable to pursue both at the same time, this just causes confusion and quite often will be detrimental to your application. Adopting the agency method has the benefit that an agency will be working closely with the banks thus knowing both current and upcoming vacancies available. If an advertised vacancy does not prove to be suitable, your recruitment consultant will perhaps be able to recommend an alternative position where you may be able to apply. An agency has more contacts and gets interviews arranged for you by approaching the institution/business on your behalf. They will inevitably help to bring out more avenues as they work very closely with the hiring managers and have one goal, high customer service to the client and candidate.
Those who prefer to apply directly to the institution can do so by searching for relevant ads in the newspapers, online job search engines and corporate websites. However, the drawback is that the whole process of searching and then applying may take a long time. Also you may apply online for the job. In the field specific to banking, there are specialized websites that house only bank-related jobs. Quite often with this method, your CV will be processes internally by an admin assistant and missed for other relevant vacancies. This will never happen at Agency level they have ATS Applicant Track Systems which track your CV and suitably for current/live vacancies on time every time. Plus, your consultant is aware of your skills and will keep you informed.
The next step is to prepare an effective CV as it gives the first impression about your skills, achievements and personal attributes which can often influence the employer in deciding whether to call the candidate for the next stages or not. Your CV should be created in a format that is easily readable. (See www.cvgen.co.uk) It should be updated with all your achievements properly listed in positive manner.
Finally the interview, which is dependent to a large extent on the skills of the candidate. You should be able to present yourself in the way the Bank wants you to be and convince them of the skills and positive attitude you can bring. Bank management will want to hire a candidate who is knowledgeable and who can add value to their teams. So, prepare yourself to be the one they are looking for!

McBarron Wood is a leading specialist Financial Services and Accountancy Recruitment outsourcing and talent management company utilising new generation recruitment software to supply the BEST Finance & Accountancy staffing solutions across the UK and Internationally.
Please Visit Our Website : http://www.mcbarronwood.com

Banking

How To Master The Investment Banking Interview

 

 

You need to make the most of your investment banking interview which (hopefully) you have obtained through your successful networking.

 

The first interview is generally a “fit” interview. This involves meeting two people from the firm which lasts 30 minutes. It is important to be aware that technical questions about the industry may be posed. They primary things that the interviewers are testing for include personality, how easy you are to talk to, and generally how you conduct yourself during the interview.

 

Second rounds generally involve meeting more people, and this can be three or four from the company. Technical questions are very likely at this stage. Again, personality is important because the interviewers will consider both your technical capability as well as your “fit”. Given that there will be a lot of interaction – up to 80 or 90 hours a week, the interviewers would like to ensure that the working relationship, both ways, will be pleasant.

 

Success at the second interview will generally result in an offer. It should be stressed that to succeed, your personality should shine through. It is advisable to bring up personal anecdotes after a clear statement which addresses the interviewer’s question. You need to engage with the interviewer. Building up a rapport is very helpful, because if the interviewer likes you, he/she is more likely to hire you. Being positive and radiating a warm and helpful personality is therefore important.

 

Intense preparation for the interview is paramount for success. There is a plethora of books relating to the investment banking interview. Study them. Be completely aware of all the standard questions and acceptable responses to each.  Study cards can be very helpful.  Use them.  Know each card inside-out, backward & forward.  You should be able to recite the answers before your go to sleep and first thing in the morning.  You want to be in this industry; therefore preparation cannot be understated.

 

To sum up, it is important to focus on three things for an investment banking interview.

Firstly, preparation – the technical aspects are important. They do impress.  Preparation will be the key to your success not only for the interview but also on the job.
Secondly, be personable. Being genuine counts for a lot.  The interviewers are sharp, they can tell if you are fake. 
Finally, a positive mindset will do wonders.  Who wants to work with a negative person during the long work day?

Erin Parker is the brilliant and successful author of this article, read more of Erin’s advice and other investment banking experts at Guide To An IBanking Internship. About the author – Erin Parker is an economics student at Stanford University. She has had three investment banking internships spanning UBS (private wealth management), FT Partners (financial technology coverage), and J.P. Morgan in New York (syndicated and leveraged finance).

Banking

IT Support Services to Banking Sector

With the other industries the banking industry is also growing at a significant good rate today. The main reason behind this is the use of the latest technology tools. In the olden days banking was done on paper but now it is done electronically with the help of computers. Many IT Support Company are giving their IT services to the banking sector.

It has been observed during the last few decades that IT infrastructure services have been taken by the banks and other financial institutions. In the early 80s the banks started to make their branches computerized and were purchasing the software packages. In the early 90s replacement of the computer systems with the inexpensive and latest technology powered PC’s began. Information technology opened up the way for the banks to make their products sophisticated, diversified and adopting new techniques and make better market infrastructure. The internet has become the remote channel of communication between banks and its customers.

The E-Banking came to the United States of America and the United Kingdom in between 1020 to 1030 and now India is also following it. Most of the banks have made their services based on these technologies and equipments which are offered by many IT support companies. Now the customers can view their account summary, status, receipts, transaction records, can make online funds transfer and many more online options like these. Undoubtedly today banking has become more fast and easy and the customers’ expectations are also increased. Now the customer needs not to have its account summary on registers because everything is now online with the advent of the internet technology which is providing many benefits to the customers as well as the banks.

A customer can take his cash fast and easy with the use of an ATM machine. He can use his debit or credit card for purchasing purposes. He can use e-cheques, mobile banking, telephone banking and internet banking for remote transactions. He can also make payment transfers when the bank is closed. Easy to keep an eye or monitor the account status. It is cost effective for the bank because thousands of customers can be handled at a time and no need to use so many clerks.

We can say that technology has always played an important role in the growth of financial organizations and banks. It has shortened the paths of long transactions to smaller ones. It is giving proper service quality and satisfaction to the customers.

Khalid Kamal, working as a DBA in ProVal Technologies. This IT Support Company is providing the IT infrastructure services for small & medium business in UK & USA.