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Banking

Plat5 Consulting Offer Banking on better Service and Product Innovation

THE complexion of the banking sector has changed dramatically in terms of products and services in a market where the customer has more options than ever before and banks are compelled to review constantly their package of products and services.

Banks in India, traditionally, offered mass products. With the reforms came a massive expansion of products and services driven by technological advances that had a dramatic impact on the delivery systems and the ability to service a greater number of products.

Profitability, the new mantra in banking, forced banks to transform into financial supermarkets. The focus has shifted to class banking with value-added and customized products for diverse customers.

Banks with differentiated products targeted at customer groups, rather than treating products as homogenous commodities will be the winners. Many banks such as SBI, HDFC, and ICICI are designing products for every stage of an individual’s life – from childhood to old age. Retail ban king is the buzzword, and banks are developing innovative products tailored to customer needs.

Product promotion and marketing product innovation in banks call for newer strategies. For historical reasons, product promotion has so far remained low on banks’ agenda. Product marketing and market intelligence are still in their infancy. Certain companies like Plat5 have the right domain expertise and point solutions to address the industry’s key business drivers and strategic imperatives. Blending strategy, implementation and support for diverse industry players across the sales, fulfillment and service valuing chain. It helps its client to transform, innovate and optimize towards Building Tomorrow’s Enterprise. Plat5 have provided solutions to whole range of multinational banks in India to white good manufacturers to financial services companies.

Marketing has become crucial for a bank’s success – in terms of profitability, innovative product development, optimum use of infrastructure, expanding market, and so on.

The bank of the future has to be also a marketing organization. HDFC, ICICI, AXIS, SBI and some foreign banks are setting new trends in effective marketing of their products and achieved unprecedented success. Their offsite strategy with collaboration with companies like Plat5 – such as Plat5 privilege holidays – to push personal banking products tries to catch the customer at places he visits regularly. Banks are eying one another to offer freebies and add-ons such as free accident insurance cover, free doorstep account opening, and person alised cheques as value additions. Due to deregulation and competition – among themselves and from new players such as mutual funds, NBFCs, post-offices, housing finance companies and financial institutions – banks have to create their own niches.

Technology to rescue

The contours of banking are being redefined through the all-pervasive influence of information technology and there is a marked shift from conventional to convenience banking. Product distribution channel is one key issue that should continue to engage bankers’ attention with “innovative products at lower prices” as the guiding principle. Many of the recent product innovations have used the networking technology.

Product branding

Customers today are looking for convenience – where and how to offer the product no longer matters. This is why branding is gaining in importance, especially with escalating competition. Traditionally, banking brands have been particularly difficult to build. This is largely because the financial products offered by most banks are not exciting or do not usually enhancing image. In fact, with fierce competition, there is little or no sustainable product innovation/differentiation — either in product features or the price. Clearly, there is room for powerful and winning brands, Plat5 consultancy pvt ltd offers different solutions regarding branding of products.

Pricing of products

 

Stiff competition is making it difficult for banks to price their products and services on cost-plus basis as hitherto. In the current competitive scene and the levels of product sophistication, the traditional cost-benefit approach to product pricing needs to be supplemented with more scientific and product specific pricing strategies.

Activity-based pricing with the aid of scientific methods based on customer preferences is essential. Most customers do not mind paying a little extra if they get the service they want. With shrinking spreads, banks will have to do a tight-rope walking to meet the depositors’ demand for increasing interest, and the borrowers’ clamour for lower the coupon. In such a situation, only product innovation can help. The strength of the banking system is its resilience to adapt itself to the changing times and to the ever-changing needs of the customers. Ever-escalating customer expectations, coupled with widespread deregulation, globalization initiatives and severe competitive forces, have added new dimensions to the challenges banks face in the areas of product design, delivery, pricing and so on.

Banks that have the strength and the competence to convert these challenges in to opportunities will be the winners.

PLAT5 is a group of strategically linked companies with complementing domain expertise and a well experienced client focused team.

Banking

Jobs In HDFC Bank, ICICI Bank And IDBI Bank Offer A Potential Growth In Banking Sector

For freshers who have recently passed out from colleges, have a major thing to worry about. After the degrees are received, they are very much concerned about the right platform where they can start of their careers. To have a strong start, the first job has to be of a type, which lets them have a feel of the coming years as well as gives them a chance to put their college education to good use.

For the students who have completed their courses in commerce or finance and banking, the banking sector has a plethora of opportunities. These jobs in banks have grown considerably in recent years. Banks form an integral part of the social life. In earlier days, these places were used for the simple transactions, such as deposits and withdrawals.

But with the growth in economy, the functionalities of the banks have increased manifolds. They are now dealing with insurances, loans, and mutual funds to start with. These sections of the banks have a lot of things within them and are possible to be done by people with adequate expertise and knowledge. Jobs in ICICI bank are said to be one of the most diversified in the banking sector.

ICICI bank has grown to become the top most among the private banks in the country and have pioneered in every banking aspect that is possible in the banks. Starting from loans with different riders to the dealing of insurance policies, this number one private bank has become the epitome of banking in India.

Students, who are having knowledge of the banking and finances, cannot get a better opportunity than this, to start a flourishing career. Many students are therefore applying for jobs in ICICI bank for the posts of branch manager, branch operations manager, officer sales, home loan counsellors, branch manager-commercial banking, etc.

The spectrum of jobs in HDFC bank is also of the same as in ICICI bank as they are private banks. In the present scenario, the job profiles of recruits in these banks have increased significantly. The diversification has allowed the recruitment o a large number of people. Immediately after passing out, when students join these institutes, they get a fair knowledge and experience of the working of the banks. They are able to know the intricate details of how to manage customers and how to disburse the different financial transactions. These new recruits have sufficient knowledge in the theoretical aspects.

But the jobs in HDFC bank, allows them to gain a firsthand knowledge. Since the customer base of these banks have increased considerably, the jobs in IDBI and other private banks has also increased. When a new recruit is able to deal with many customers in a very small time, it is obvious that they can know about the functioning of the banks in a very quick time. These banks have not only helped people with better ways of banking, but also have helped thousands of aspirants to enter a career that is rewarding as well as challenging.

Mr. Rajnish Mehan is providing The InfiniteCourses, A foremost name in the arena of web sites offering umbrella solution to all education related queries and dilemmas. Explore Jobs in HDFC Bank, Jobs in ICICI Bank, Jobs in IDBI Bank and much more.

Finance

Cyprus ICIS structures offer best solution for raising finance

The International Collective Investment Schemes (ICIS) or in layman’s terms, Private Funds, are probably one of the best vehicles through which promoters may raise money from up to 100 investors worldwide and at the same time offer such investors a great deal of protection, with respect to safety of assets, valuations and that the company is operating under EU laws.

Cyprus is increasingly becoming a popular base where many ICIS formations are structured, since it has the unique advantage of providing an EU framework combined with all the tax advantages as well as very competitive rates.

The most popular ICIS structures made from Cyprus are the variable capital ones, whereby when there is demand from investors to subscribe to the shares or units, the capital increases as the new shares/units are issued, and when investors exit the company, the shares/units are canceled.

The original shareholders have the added advantage of subscribing to voting shares, while offering non-voting shares to new investors. As stated previously, the only limitation of an ICIS is that it can only raise money from up to 100 investors. Once it passes the 100 mark, then it is treated like a public fund and has to go through a different registration and management process.

At the moment, the supervision and regulation of ICIS is done by the Central Bank of Cyprus, while in other EU countries, the task is undertaken by the equivalent of the Cyprus Securities & Exchange Commission in member states.

So for the promoters, or those wishing to raise money, an ICIS is extremely advantageous since there is no restriction on how much money can be raised or in what type or types of assets, the money will be invested, provided that the objectives of the funds, where it will invest, etc. are clearly stated in its business plan submitted to the Central Bank of Cyprus in the Offering Memorandum (OM), which is the document through which the ICIS raises money from investors.

The OM will also clearly state how an ICIS accepts money (on monthly, quarterly, semi-annually and so on) and under what terms and conditions investors may exit out of the fund, offering a lot of flexibility for the company.

An ICIS however offers a lot of protection to investors. All the assets are placed under a reputable Custodian Bank, based in Cyprus or abroad, which holds the assets on behalf of all investors. This means the promoter cannot run away with the assets or do as he pleases. All ICIS should also have an independent Administrator, based in Cyprus, which will calculate the Net Asset Value of the ICIS on which shares/units will be purchased and sold and it will also issue/redeem the units.

A regulated firm, with portfolio management license (such as Eurivex) also acts as the overall fund manager to make sure that the actual investments are made according to Board of Directors decisions and defined in OM, that the ICIS operates in full compliance with MiFID rules and make sure that the promoters accept money from investors by following the EU Know-Your-Customer (KYC) and Anti-Money Laundering (AML) rules. This means the only risk undertaken by investors is the actual risk of investment whereas in all other respects they are fully protected.

By having at least one member of the Board of the ICIS a Cyprus resident and since Eurivex, a Cyprus Investment Firm is the manager of the company, this will allow the ICIS to qualify for all the Cyprus double taxation advantages signed with more than 45 countries, since it is proven beyond doubt that “effective management” of the ICIS is carried out from Cyprus.

So, a Cyprus ICIS offers protection to investors (assets with custodian bank, valuation made by independent Administrator and overall fund management by regulated firm), it also gives the promoters the legal framework through which to raise money and invest in any project in the world (it has to be stated in OM), but it also qualifies for all the tax advantages that Cyprus offers.

Shavasb Bohdjalian is an approved Investment Advisor and CEO of Eurivex Ltd., a Cyprus Investment Firm, authorized and regulated by CySEC, license no. 114/10. Forex Brokerage and Investing in markets and trading on leverage is highly risky and it may not be suitable to all investors since it carries a high degree of risk and you can lose more than your initial investment.

Banking

Chase The Best Banking Offer

Although may possibly not be fashionable to rely on banks at present, the fact of the matter is that often we should have confidence in them – without a lender account you cannot grab a mortgage loan, it happens to be tough to acquire compensated in many positions, and you will find many other reasons to obtain one.

This does not mean, of course, that you have to simply be satisfied with virtually any assistance from virtually any lender on the awareness that you can not stay away from having an account. You should you can easily whine about below average service, and talk to banks to consider issues once more.

One of the greatest banks in the united states at present is Chase. It has a extended background of looking after folks’ accounts and ensuring that it gives a number of the most acceptable deals around. Although no lender is perfect, Chase is respected by many visitors.

Chase online banking lets you examine your account in realtime and undertake distinctive styles of dealings without holdup – conserving you the need to call up and wait around on hold in advance of talking with a person who might do whatever you needed to do.

It’s very important for a lender to be properly up to date with what it gives in relation to online banking, as this is one way most accounts might be executed going forward from this level. Because of this, you have to be certain that you understand the right way to look after an account on line.

It is more vital at this moment than in the past to use a strong hand along with your banking affairs – we aren’t long beyond a global downturn and many analysts fear another one would probably not be far.

If you’re going to get virtually any fresh accounts during the months to come, in that case it may be a wise idea to check a Chase banking account or plastic card, as they come with an impetus to get things properly.

Maintaining your finances is fundamental, and unless of course you have got countless time and encyclopedic economic insight, you can do much worse as compared with Chase.

In case you have not experienced chase online banking yet still, it is best to try it right now to discover the numerous positive aspects it promises to its consumers.