Online Finance Solution and Tips for all

Category: Business

Anthony Constantinou Describes Fintech in Simple Words
Fintech is used as an abbreviation for Financial Technology, and thus, very clear from its own term that technology used to make finance and financial operations easy and user-friendly. In its core, Fintech is to serve multinational companies, small businesses and other consumers to manage and process their financial operations in a much better way by using specialized and advance algorithms and software on computers, laptops and nowadays on smartphones also.

Knowing Fintech

The term Fintech emerged in the 21st century and was earlier used by the back-end of the establishment or organizational financial department. Since then, there has been a drastic change in the perception of the users and a great shift has been noticed in its end-users and consumers. Fintech now includes many different sectors like Retail banking, Industries, Education, Non-profit organizations, Investment management and many more.

From double-entry bookkeeping to the invention of the digital money, every innovation in the financial area which has helped the consumer to transact the business in an easy manner is because of financial technology or Fintech

A lot of variety of financial activities fall under the head of Fintech. Activities like, using a smartphone to deposit a check instead of walking into the bank branch, money transfers or raising funds for business startup or applying for credit without interacting with the bank employees or branch manager or managing the investment portfolio without any assistance of a financial advisor. These are some activities that are covered under the Fintech and since the internet connectivity is available on the smart phoned Fintech has grown explosively and the term which was earlier referred to as computer technology for the back-end users is now applied as in very broad and vast level.

Anthony Constantinou shares some active area of Fintech includes the followings:
- Digital cash
- Cryptocurrencies
- The smart contract, which uses computer programs to execute the contract between buyers and sellers automatically.
- Digital landing.
- Business without barriers.
Fintech is in practice for many years and since then, many new technologies and techniques are added in the queue. Even machinery and equipment are been added in the process from time to time. ie. Auto teller machine(ATM) and Card Swipe machine. Combinations of modern technological developments with the latest financial applications. Fintech has helped the businesses of all types whether large industries, medium enterprises or small or micro-businesses.

It is an estimate that nearly 2 billion people worldwide are not having any bank accounts and for them, Fintech is an agile option to carry on their financial services and contribution to their country’s GDP and that is what Fintech has been designed to do.

Here are some examples of Fintech in the payment system.

PayPal can be said to be the pioneer who even started this revolution. PayPal used to be the first company to provide payment solutions. Today many companies providing similar services are there in the market and pushing the industry into the next level. It is because of Fintech that the cost of moving big money has been sledded down allowing more transparency.

Banks used to charge fees for the payments done or received especially in the case of international transactions. One has to pay heavy transaction fees for international money transfer, as it was impossible to get the middle market rate. But now it is no longer expensive. Rather some of the startups are on the way to solve this problem by eliminating the middlemen.

Bottom Lines

Fintech has provided a common platform and has opened a new world of opportunities for every business. Much better services are being provided at low prices to consumers. It has bridged the gap between the business and the banks using technology by eliminating inconvenience. It is very important for the business to acquaint with the technology and stay informed and up to date with Fintech development to continue with the easy and hassle-free business.
February 7, 2020
Picking a Business Loan Broker? How to Find the Best

Are you questioning yourself regarding how to pick a business loan broker? Well, bear in mind that brokers are aware of the market very well and they know how to save clients from being exploited. There are few things which you need to keep in mind for making the best decision, some of the questions regarding picking a business loan broker are mentioned below.

Questioning about lenders from a business loan broker

You need to ask about the number of lenders the loan has to be given to from a business loan broker. There are chances that the business loan broker already has a perfect fit for your loan in their mind. But you can not completely settle for this choice as well and weigh your options wisely. There is a probability that a lender the broker is referring to offers the lowest possible interest rates. So, you need to be wary of such possibilities. You need to realize that a broker’s fees differ and it is not the same for all lenders.

Question the drawbacks from a business loan broker

There are certainly good aspects of a loan and certain drawbacks. The point is that you need to know both. You need to understand your situation and condition you are in. For instance, if you will be requiring some funding right away then the best approach is to effort for a short term loan. But you need to bear in mind that in that case, you will have to pay a higher interest rate and that too for a long time. You need to question a business loan broker regarding one’s effort in channeling the clients through the paperwork process. A loan involves a great deal of paperwork and it is extremely vital to catch the details from the narrow lens. If the broker is only highlighting the positive aspects of the loan then you need to question. You should identify whether the broker is offering a generic solution which even google can give or there is more value to it. You need to have a sharp eye for such judgments during the meeting with brokers. Comprehend the answers of the brokers and ensure that one is providing you honest, intelligible answers.

Ask for the thinking time

You also need to take the decision wisely before deciding in rush. Time is exceedingly vital and you can not undermine its importance. You already know that the procedure of loan is in itself a very big commitment. If a borrower feels pressure while signing the contract then this won’t be the best option to avail at all. There can be a possibility that the broker you are going for is fully reliable. But even in that case, you need to take some time out for thinking over the deal and discuss it with other entrepreneur friends. If a business loan broker is not willing to give you enough time then that is a red signal and the best approach here would be to consult any other.

November 24, 2019
How To Write an Employment Offer Letter?

If you are wondering how to write an employment letter then this article has got you covered. There are few things in mind which you need to stick to. For instance, you need to pay importance to job details which include the benefits, salary, work schedule and all other vital steps. The guide outlined below will help you out in getting the idea clear.

Telling the news over phone call

If you have finalized the candidate then before documenting and delivering the offer letter you need to extend the offer over the person. The news of getting a job is not only exciting for the applicant but also the company thus you need to create a personal connection. Once you establish the connection you need then have to outline the official letter which will include more details then they have previously received.

Pay attention to the subject line

You need to make use of a catchy subject line which is under fifty characters. You need to be clear about the position you will be offering. You have to include phrases like the company’s job offer. A warmer and joyful tone will help in this regard, just be to the point and clear.

Attach helpful documents like letters of credit

Next, you need to attach vital documents. You must keep the aim of the offer letter in mind for carving out the best offer. If you will be sending an email offer letter then a good plus point is the attachment of documents like letters of credit. If you are wondering what sort of documents can be attached then you can attach the company’s policies, compensation plans, letters of credit and benefits. But you want to limit the number of documents here as you don’t want to overwhelm the candidate. Just attach the relevant information which will help them to identify their role.

Offer letter in attachment

Next, there is a possibility that you choose the pdf type of offer letter. In that case, it is best to write an email message which is brief so the candidate could feel connected. You want to establish the celebratory and enthusiastic ground for the candidate who has yet to read the offer letter. There are different templates available online which will give you an exact idea of what this paragraph is referring to. Just have a welcoming tone and you are good to go.

Attaching Offer letter in the email body

The next possibility is that you have the offer letter in the body of the email, the other documents like letters of credit still has to be attached. In that case, the candidate will be able to see the full offer letter in the email without the need of downloading it. Here comes the most important point which can pop up into your head and that is the need for job details, the details about benefits and compensation. You need to be very precise in mentioning the contact details. Don’t forget to give them a deadline which is the time to accept or decline the job offer.

November 24, 2019
7 Real-World Scenarios Where Printed Checks Are Still Beneficial

When it comes to paying bills and settling accounts due for your business, you’re probably using digital methods to manage and transfer your money. It’s not difficult to understand why you and many other business owners prefer using e-banking over traditional banking: it’s easier, more convenient, and there is increased security compared to using paper checks.
However, this does not mean that you should rule out using old-fashioned checks entirely. In fact, there are still times when you will benefit more from using paper checks compared to digital payment methods. Thus, you can still use checks, but make sure that you use secure window envelopes for checks when sending them through the mail.

1. Avoid Extra Charges
If you are paying utility bills or federal licensing fees, using a paper check can help you avoid extra charges that come with credit card processing. Keep in mind that many companies, especially government offices and utility companies, use third-party services to process credit card statements, and they pass on these fees to their clients. Every time you use a credit card or online payment, you will pay these fees.

2. No Power? No Problem!
When you’re paying through electronic means, it obviously means that if there is a power outage or problem with the Internet connection in the area, you won’t be able to pay! If the power outage is severe, even ATMs in the area might be affected, so you won’t be able to get cash easily either.
Using printed checks help you avoid these problems and still make your payments without any problem. Since processing and filing your check won’t need any electricity, there won’t be any problem with accepting your payment. However, make sure that you still record the process with your mobile phone so that you have proof that you paid your bills during the power outage.

3. Some Businesses Still Go Old-School
Even in today’s digital age of electronic payments, there are businesses that actually prefer using old-fashioned checks! Many government offices, large companies, and even landlords will require that you use a printed check over digital payment methods. Of course, you shouldn’t discount retail business owners who won’t accept credit cards because they don’t want to bother with having to make their business compatible with electronic payment methods.

4. Avoid Minimum Purchase Requirements
Many small and medium-sized businesses will require a minimum purchase amount for any transaction to offset the costs of using credit cards or electronic payments. Keep in mind that credit card companies and banks will charge a fee for their electronic services, and these fees can have a huge effect on a company’s bottom line if they accept small value transactions. If you don’t use paper checks and you don’t have cash on you, you’ll be forced to add more items to your purchase to meet the minimum purchase requirement.

5. A Strong Paper Trail is Always a Good Idea
If you want traceability and transparency for easier accounting purposes, using paper checks will give you the most control when managing and organizing your cash flow. Each step of the processing, filing, and cashing out the check is recorded on paper, and you will be able to ask for a copy for your business records. This way, you will have a strong position to start from if there are any disputes over your payments.

6. Recipients Have More Control on How to Manage the Incoming Funds
While this particular benefit is more for the good of your recipient than your own, having this option will actually be attractive for your recipient. Unlike using digital payments where the money will only be directed to a particular account, your recipient will be able to dictate how and when to cash in your payment. They will also be able to choose where they will deposit the payment.

7. A Younger Demographic Doesn’t Always Mean a Preference to Technology
Surprisingly, a large percentage of the younger generation actually still strongly prefers traditional banking methods over digital methods when it comes to accepting payments! There are many possible reasons for this, ranging from the higher number of banks using traditional payments (particularly in rural areas) to the fact that many banks arbitrarily change their policies concerning digital payments compared to traditional banking methods. In terms of stability and transparency, banks are more prone to suddenly changing their digital banking policies. Compare that to the process of accepting, processing, and cashing out paper checks which has not changed much through the decades, and you will understand why the idea of a digital bank is not as attractive to the younger generation as it could be.

October 22, 2019
Tips To Start Your Business Now
The world is changing on dynamic process. Now a day’s regarding job security is a matter of past. So we need to think something better or anything else to get the things done in our life. In our school, it is taught us how to work hard and how to secure good marks in the exam to get a suitable job but it does not teach us how to generate wealth. Now time is power and time is money. We can say it is a modern age to keep up the information otherwise we will put in trouble. So it is a big time for us to update ourselves.

Now a day’s traditional jobs is impossible to get. Due to various types of machinery equipment, business men us half of staff and payment is paid according to performance rather than working hours. This is the new era to begin. What what can be done? It is a matter of thinking. The question is dancing in our eye. But answer is very simple. People should think to become an entrepreneur.

There are so many people in the world who have brought the secrete to become an entrepreneur and know how to create the money or wealth.

Some points are there to become an best entrepreneur in the world.
- Where there is will, there is a way.
- Positive attitude
- Discipline
- Determination
- Pitch your hope high
- Training
Anyone can be regarded as an Entrepreneur, qualification is not required. We have seen in the world that some richest people have very little qualification but they have positive desire to get the things done.

In order to get a quality future, people must think about this so that they can manage their family very well in future. Skill and training is very much essential for an entrepreneur. There are many business opportunity are there. You should have enough knowledge to find them from the sources. If you are serious about your job, you can do part time, full time and other activities as per your required vision or ambition.

It is the time to start now. Don’t wait till tomorrow otherwise time will pass, accordingly your vision will also pass. So get started now. Take necessary skill development training and jump into your business to get the things done. Training is a very important points in any business. People must think about it carefully otherwise they will face in trouble at the time of business. Get trained and gain knowledge so that success will come to your lap positively and success will come automatically. People will stop searching jobs ultimately everyone will be happy getting this kind of success. It is called that success in life is not easily secured, it comes those persons who works hard and continue learning process. For more information visit online trading.
September 25, 2019
How to succeed in retail

Successful retailers are passionate about the field. They spend a lot of energy to beat their competitors and give their 110% to their employers and careers. Their companies are ahead of the competition in offering better products, exceeding the sales figures of the previous year and since their sales teams are meeting and exceeding sales targets. That’s probably where they find their motivation.

In the competitive world of the retail industry, it’s becoming increasingly important for those who care about it to know the competitor’s products (as well as their own products) and technology. Here are some tips to ensure you a successful career in retail.

Make your own promotion

In the retail industry, a promotion can happen very quickly and is usually related to performance. Follow these tips to get your next promotion:

Set and achieve goals to acquire new skills and knowledge and seize opportunities to grow and take on additional responsibilities.

Demonstrate to management that you are very motivated by your current job.

Meet or exceed the expectations of your current position.

Be a team player and be flexible.

Find solutions to problems take care of your customers and demonstrate your sense of initiative and creativity and a good code of ethics.

Familiarize yourself with the corporate culture

Some workplaces in the retail industry are jacket / tie environments. Others are casual and informal. Most are in between. Find the environment that’s right for you. Here are your options.

Entrepreneurial culture: Emphasizes risk taking and independence. Evolve quickly to always exceed the competition. Ensures products and services are on the cutting edge of technology. Often uses a commission system for the compensation of his sales team.

Small business culture (although not all businesses of this type are small and not all small businesses adopt this culture): Ready to take risks, but that are usually based on more than just brainstorming and about more only in the case of instinctive management. Promote cooperation and profit sharing.

Corporate culture: Hierarchical organization. Most of the time, there are several levels of supervision. Salaries and benefits are generally stratified and formalized. Often has more rules than other cultures.

If you want to climb the ladder quickly, a company that tends towards the entrepreneurial culture may be more suitable for you. If you do not like competing with your co-workers, maybe you should choose a small business. But if you prefer stable and predictable schedules and have a clear idea of organizational boundaries, corporate culture might be a pleasure.

Find a mentor

A mentor can teach you things about retail that are not learned at school or reading a book. Experts advise retail professionals to find someone from a higher level who has been working in the field and in this business for a long time. Choose someone with whom you can speak confidentially and who can guide you.

How do retail professionals manage time constraints? Here are some tips:

Take your work to heart. Make sure you know what you have to do and what your boss wants from you on a daily, weekly, and monthly basis. Openly discuss issues that may arise in the performance of your duties and responsibilities as they arise.

Conclusion: Set priorities and organize your time with the help of your supervisor if necessary. All those who pursue a career in retail trade juggle with several tasks at once; its part of the pleasure of the job. But be sure to invest time and energy in the right places. Avoid procrastination, distractions and time-wasting activities.

August 8, 2019