All posts in Banking

Career in Banking

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Career in banking had come a long way since the 1980s. It is now one of the most sought after career, especially for high-calibre accountants. This was also encouraged by the narrowing of the salary gap between banking career and other careers. Many of those who had opted for a career in banking was also looking at other benefits such as training and development, intellectual challenge, career mobility and the global industry. Besides, there also instances where those in the banking career had received a bonus of 100% of their base salary.

A survey conducted had also shown that those who had a career in banking derived a lot of satisfaction from their career. If you are seeking for a career in banking, you have to be prepared to work as part of a big organisation. You are expected to share your knowledge with international markets and other business units. A career in banking also require that you think out-of-the-box and to have lateral thinking. You are expected to have great analytical and numerical skills.

In the first few years of your career in banking, expect steep learning curve and be prepared for inter-department transfer and change of job functions. Because of its international business nature, a career in banking can be exciting. A bank can not do away with information technology.

The followings are the possible job functions that you can apply for in a career in banking:

Product Analysis Financial Control Equity and Fund Analysis Risk Management Projects Operational Risk Review Corporate Finance Credit Analyst Loan Officer Branch Manager Trust Officer Mortgage Banker

To be a good candidate for a career in banking, you need to have good people skills. In some job functions, having good writing and accounting skills are essential too. Strong work ethics are more important than good academic results. Recently, those with good marketing skills are well-sought after. As corporate investment is also in high demand, those with strong inclination towards investment also will rise in the rank in a career in banking. However, you need to be prepared to put in long hours in your banking career.

The followings are a summary of the levels of requirements for your career in banking:

People Skills – High Marketing Skills – High Communication Skills – High Analytical Skills – Moderate Creativity – Moderate Initiative – Moderate

When it comes to salary for banking career, the starting salaries in a commercial banking range from $24,000 to $38,000. Those with MBA qualification command a higher salary ranging from $30,000 to $50,000. A Department Manager with more than 10 years of experience can expect a salary of $100,000. A senior VP earns about $200,000. There are also those high-profile manager who earns up to $500,000 per annum.

What does the future holds for a career in banking? The banking industry is undergoing a period of consolidation. Hence, you have to expect mergers and acquisition. As far as consumer’s behaviour is concerned, many are switching to ATM and online banking. Marketing officers have to meet their client at their homes instead of expecting consumer to visit banks. Specialised banking are also growing and middle management is in great demand.

For those who are still in the midst of their career search, a career in banking may be an exciting choice.

Defining Offshore Banking And International Business Loans

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The worldwide growth in international trade and investment during the previous decades brought about renewed interest in offshore lending, transforming it from simply a business that was primarily engaged in the financing of trade, into a much broader enterprise which is heavily involved in transactional lending. Offshore international capital loans have been extended by banks for many years.

An international loan, in its simplest form is financing given by a foreign lender to a U.S. borrower. Likewise, when a foreign borrower obtains financing from the US, the loan is also said to be international in nature. A better definition of international loan therefore would be any capital that was made offshore or across the border.

Often, international loans exhibit the same characteristics as with domestic lending, such as import and export financing. Loans to foreign and local companies, partnerships, and individuals including, foreign entities of US corporations that borrow on their own without any form of support from the parent are also available to bolster international capital management.

As with domestic banking, there are international business loans, real estate and commercial. Offshore banking bank transactions can also include international mortgage or home loans and repeat financing. Some capital sources can even act as consultants in international loan packaging or provide cash payday loan services. International loan providers and lenders provide personal and payday loans, construction and project financing among others.

But while foreign credit markets or international capital markets have more moving parts than do domestic markets, they differ only in detail and not in the basic offshore bank formation. For the lender, lending principles are the same in Rhode Island and in any offshore bank Bahamas may have. The same principles, understanding the transaction, adequate knowledge and understanding of the borrower, risk definition and a clear indication that the loan will be repaid, still apply.

The borrower, meanwhile, defines his needs for funds, develops overall financial strategy which will structure the loan in a way that makes the most sense, and negotiates with the offshore bank formation to meet his requirements. These reciprocate the lender’s ability to make funds available, and the patterns used in making them available and interact with his standards.

Mobile banking is used to perform bank transactions through mobile phones

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For all those who have relied on banks may use the services and for those who have not an account should be encouraged to create a new account and take advantage of this service. It is indeed a technology that will allow customers that dependence on the banks will decrease.

Mobile banking can be accessed by mobile and people can use to their advantage and they do not have to be physically present in the banks to check the account balance. Mobile banking has made life much easier and it is a program that is used by the younger generation much more, but if you’re Middle-aged or senior person, you can definitely benefit because it is really easy.

On all banks which are available in India, we see that SBI is a bank that has always taken care of its customers. It offers easy to use models and methods that have helped attract people to the bank. If you are thinking what is the new offer from the bank to the client, you’ll be pleased to know that mobile banking SBI is now a reality. People can now access their accounts through SBI their cell phones. But before that they need to subscribe to the process and then the whole issue will be supported. This is a special application which must be activated by the same banks and if you can do then you will be able to access your account from your cell phone. SBI mobile banking system has been introduced to help people access their bank accounts via their cell phones, and if you look at the records, we see that among the number of people using this technology are the highest youth.

With the advent of time, we see that there are various gradations of latest technology and life has become much easier. The banking sector has benefited immensely from the technology of mobile banking. This is a new technology that has been done to make life easier for people and make work easier and faster official. The tech freak people can now breathe easy as it has made life much easier for people. Mobile banking technology allows a person to work with his cell phone and can also be very checking account balance. The official work can be done by the Internet itself and there is absolutely no need to be present at the bank for all official proceedings. The Internet banking has made life a lot easier than it helps people to access bank account sitting at home.

If you look at the number of people using the Internet in today’s world, we see that the number is indeed massive and people use it either for their personal use or for personal gain. The Internet has now given new impetus to life and helped improve people’s lives. In banking Internet has had a huge impact and people are using the environment to ensure that the entire transaction process is completed very quickly. Mobile banking is the new age technology that allows a person with a bank account to access the account from mobile phones. Mobile Banking Software is used by people to access the account. This has indeed helped the people by a huge margin, because they can now have access to telephones as early as possible.

Latest Information about Mobile Banking

Third World Countries Rising With Mobile Marketing And Banking -kenyas M-pesa The Unbelievable S

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You can success become wealthy, meet new people, and carry on our daily duties and everyday. From the their world countries and and even first world countries are all reaping the rewards.
The internet, mobile banking and marketing are changing, the way people do business around the world. First time gaving to sell your products and services without leaving or traveling miles. For those who are still living in the old methods of making money and marketing will get left behind if they don’t change the way they do things.
Living in cold weather condition and have leave your home to go work cleaning snow get in a cold is no joke. Doing some research I realize that third world countries are taking serious advantage of cell phone and mobile marketing to the next level while the first world countries are actually falling behind.

From Kenya To India Mobile Banking And Marketing Are Revolutionizing Ordinary People Lives.
First let’s talk about the success story of M-Pesa mobile payment system in Kenya that transforming Kenya economy according to World Bank. Below are some statistics and figures about how the mobile industry is changing Africa for the better.

M-PESA is a small-value electronic payment and store of value system that is accessible from ordinary mobile phones. It has seen exceptional growth since its introduction by mobile phone operator Safaricom in Kenya in March 2007: it has already been adopted by 11.9 million customers (corresponding to 54% of Kenya’s adult population) and processes more transactions domestically than other money transfer does globally.
Here are some key numbers (as of August 2010):
1. 11.9 million registered customers, of which the majority are active. This corresponds to 73% of Safaricom’s customer base, 54% Kenyan adults, and 31% of the entire population
2. 19,500 retail stores at which M-PESA users can cash-in and cash-out, of which nearly half are located outside urban centers.
3. US $415 million per month in person-to-person (P2P) transfers. On an annualized basis, this is equal to roughly 17% of Kenyan gross domestic product (GDP).
4. There are 27 companies using M-PESA for bulk distribution of payments. Safaricom itself used it to distribute dividends on Safaricom stock to 180,000 individual shareholders who opted to receive their dividends into their M-PESA accounts, out of a total of 700,000 shareholders.
Amazing success story, this one. The report rightly points out the success factors:
“The growth of M-PESA is a testament to Safaricom’s vision and execution capacity. However, Safaricom also benefited from launching the service in a country which contained several enabling conditions for a successful mobile money deployment, including: s
trong latent demand for domestic remittances, poor quality of available financial services, a banking regulator which permitted Safaricom to experiment with different business models and distribution channels, and a mobile communications market characterized by Safaricom’s dominant market position and low commissions on airtime sales.” This really good news for Kenya and Africa. Something different from the bad news we heard about news hear about these countries.

Even Remote Villagers Are Making Money With This New Technology.
From farmers to fishermen the list goes on. Taking advantage of moblie marketing and banking, to sell to their clients, villagers from all over Kenya and other African Countries are becoming economically self reliant and doing business efficiently on a daily basic. You can transfer money to a recipient cell phone without leaving your home to go to a transfer center and all you need a code giving to you that you can send to the other person and they will go and get the money with no obstacles. I just this think this revolutionary, something I haven’t seen in the U.S. pretty soon I heard ATM cards will be obsolete in Kenya because they have another technology developed called cashless Africa. I will do some more search about this new technology because I don’t know how that going to work.

You Can Also Dive Into The 5.2 Billion Cell Phones In The World To Create Wealth.
For those of you who have businesses to run and looking for ways to create flood mobile traffic there’s a good news for you too. There are so many opportunities in the U.S that you can tap into without leaving and become financially free. I think every second someone in North America starts a home business opportunities. Let me real true with here. The new economy will not be building big factories, hiring thousands of people to do labor work.

The new economy is in home businesses and the internet. It’s cheaper, free and convenient for people who can’ compete with the big guys. Another tools I came across is called the mobile money machine few days. After doing some research I realized this is good software to for ordinary people to make some real money on the internet and jump at it ready way. I think mobile marketing and banking is here to stay as it spread like viral worldwide. Take advantage before you get left in the dust. I hope you enjoy this article and take action on your future now. There’s no tomorrow. To learn more about mobile money machine visit: http://www.getmobilemoneymachine.net
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Convenient Banking Solutions By Asb Fast Net Services

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ASB (Auckland Savings Bank)bank was started in 1847. Operational in New Zealand, it is one of the biggest banks, with branches throughout the nation. To offere convenient banking solutions, it established its Internet Banking Services (IBS) to offer following solutions to its retail and commercial customers.

Providing valuable information

Easy E- banking services

Apply for any product online

Secure Online transaction facility

Check balances and statements

Transfer funds and make bill payments

It also provides credit card authorization for e-merchants. The bank operates in a very secure platform. Any body can visit the bank’s official website www.asbbank.co.nz and find valuable information there.

ASB fastnet was launched in in April 1996.

The Online Services offered by ASB Online banking are:-

ASB Card Pay:-
It is a real-time credit card payment facility used for business purposes where products are sold via internet by mail order or through a call center. Customers details are captured and are transmitted to the bank. After authorization, the fund is credited to customers bank account.

Payment Express:- It is a Visa and MasterCard certified solution used in electronic payments from multiple access points.

Support:- Provides support and assistance in protecting your account against fraudulent acts and protect confidential information. Also ensures 24-hours a day, seven days a week helpdesk support and back-up services.

Paystation services:-It is a Paymark Certified Solutions Provider that specializes in making easy payment processing and lowering the technology entry level and cost. It supports Internet credit card payment facilities provided by New Zealand banks – ANZ, ASB, Bank of New Zealand, Kiwi bank, The National Bank and Westpac.

Voice mail service:-The bank is currently using a computer telephony integration (CTI) plug-in that delivers voice mail to an e-mail inbox, and integrates calendar and directory functions.

Mobile commerce services:-Customers can securely pay for goods and services from their bank account using their mobile phone.

VISA business card of ASB:- It is useful in paying for business purchases and expenses.

Business saver:-It is an online business deposit account used for GST, provisional tax and other business expenses.

Stream line account:- Online monitoring of accounts. Only you have to ‘register in “Statement Stopper’ in FastNet Classic.

Fast saver:-Fast Saver is the phone and internet, high interest savings account.