8 Ways the Financial Services Sector Can Take Advantage of Online Video Conferencing

February 26th, 2019 by admin

Organizations operating in the Financial Industry are facing challenges in which they have never dealt with before. Over the last three years, the global economic crisis has forced many financial institutions to close their doors, go bankrupt or merge with larger corporations.

In order to stay afloat in the financial sector, companies must find innovative ways to maintain a competitive advantage, cut back on costs and increase productivity. Online video conferencing is one tool all financial businesses must consider investing in. Not only does it save a company time and money, it also provides employees and customers with a cutting-edge way to commute with each other. Just look at the many ways online video conferencing is already being used in the Financial Services Industry:

  1. Companies are offering “Agent on Demand” services, giving their prospects and clients one click access to sales personnel, customer service departments and technical support staff.
  2. Online certification is being made available to employees, reducing the time an employee needs to take off in order to travel to and from certification courses.
  3. Companies are offering educational webinars and online seminars to prospects and clients.
  4. Customer service agents are providing online client trainings. This eliminates the need for customer service agents to travel to and from client locations, making them more productive and freeing up their time to conduct even more trainings.
  5. Financial branches are meeting more often with company executives. Rather than conducting quarterly meetings that require either an executive to travel to a specific branch location, or employees to be flown and housed at the corporate office, companies are conducting more frequent meetings online, resulting in not only a cost savings due to less travel costs, but also improved employee morale and better team communication
  6. Employers are conducting employee training remotely, resulting in a further decrease of travel dollars and time.
  7. Financial offices are conducting online loan interviews. This makes it easier for clients to manage their schedules by allowing them to attend these interviews from their office or the comfort of their own home.
  8. Companies are providing clients with live visual records and data, making it easier to address a client’s security and investment concerns.

During these trying economic times, online video conferencing gives the Financial Services Industry a better and more economic way to reach out to customers and rebuild their confidence, as well as a way to streamline companywide processes, retain and attract top talent and drastically cut down on travel costs, all the while making personnel more productive and more responsive to client needs.

Experts Shared Facts About The Different Types Of Financial Services

February 19th, 2019 by admin

Financial services are those services that help people manage their finance related problems in a very organized manner; thus, eliminating the worry of people about their money. Today, there are various types of financial services that you can invest in to ensure a future financial success.

Different Financial Services Financial Institutions Offer

Banking – Individuals can deposit their money and can get returns in the form of interest. Also, borrowers can get a loan by paying interest to bank on a certain period of time. Usually, banks will invest the stored money of their clients to get gains, whilst paying a small amount of interest to those who are keeping their money in savings or perhaps checking accounts.

Insurance – If you use this option, you can get peace of mind since you can buy insurance policies such as fire, life insurance, health, marine, and general insurance that covers your expenses in the event of any mishap. You can actually get your money back from an insurance company.

Treasury – You can invest your money into government bonds along with the debt instruments of both public and private firms.

Stock Market – You can invest your funds into stock market where you can get dividends and capital appreciation. If you make the right investment decision, return form equity market will be greater as compared to that of fixed deposits in banks.

Mutual Funds – These funds generate returns accordingly. Thus, a debt fund will track returns of debt and money market whereas an equity mutual fund will give returns based on the performance of the stock market.

Wealth Management – There are plenty of companies where you can just park your money and then such companies will invest money across various asset classes such as derivatives, commodity, currency, money market, and more just to generate great returns for their clients.

Audit firms and tax consultants – These organizations will help individuals when it comes to determining their tax liability, filing of their tax returns on time, and guiding their clients on how to save tax.

Expert advisory services – A financial expert offers financial advice to clients, investors, and private equity funds.

Bear in mind that financial services will encompass lots of businesses dealing with how to efficiently manage your money. These will include various types of organizations like investment companies, insurance firms, government programs, and banks. Also, this will refer to the services as well as products that the money management organizations offer to the public.

Collateral Management Financial Services – Software For Financial Institutions

February 12th, 2019 by admin

Collateral Management financial services software is a system designed to improve the credit exposure of a financial institution. Lenders can now employ fewer risks when dealing with unsecured financial transactions. Collateral is an effective method for collecting debts that have not been paid. This is also referred to as ‘bilateral insurance’. In the past couple of years, other methods have been used to collect debts such as outsourcing and tax treatment. Since every transaction made comes with its own risks, it is important to use the aide of Collateral Management financial services software. The transactions that hold the highest risk include; stock and bond purchases, business loans and term loans. Most financial institutions demand collateral before agreeing to lend funds. There are multiple resources to provide collateral such as; notes, shocks, real estate and government bonds.

Banks now are using Collateral Management financial services software along with other financial institutions and are benefiting from the system. This software has the insights and strategies for making the right decision when it comes to lending out funds. The software already has analytical data embedded in order to make the right decisions for his or her company.

One form of lending is called collateralization; this is when the borrower receives the best rates. Another term related to financial institutions and lending is called, credit risk mitigation. These private transactions occur in order to get rid of risk just in case the borrower defaults or is unable to pay back the loan. A facilitation allows a company to set limits including lifting credit holds. This is useful when the creditor and the borrower can reach an agreement to pay back loans and funds.

One of the most popular transactions is called ‘over-the-counter’ (also known as OTC). Collateral Management financial services software can help a company build a contract between themselves and the borrower. This contract will explain all of the risks and possible collateral needed in case of a loan default. The entire point of the financial services software is to decrease risk and help and lending company run smoothly as possible. There are multiple terms associated with lending funds, but no matter what the method is of lending to borrowers, collateral must be established. The software acts as a personal assistant and management tool for setting up such collateral and lending agreements. This software is a huge benefit for businesses who want to decrease risks and grow their financial institution.

Financial Services Help Manage Money

February 5th, 2019 by admin

Financial Services #1 Wealth Management

Frequently individuals who are wealthy need financial services in order to manage their money and stay wealthy. Many wealthy individuals who do not use financial services for wealth management see their money slipping out the window. However, those who use wealth management financial services not only maintain their wealth and enjoy it, but also see it increase.

Financial Services #2 Investment Banking

Investment banking is another offering of financial services that many individuals enjoy. This is because investment banking financial services focus on creating capital through client investments.

Financial Services #3 Asset Management

Financial services offer asset management for individuals who cannot or prefer not to manage their own assets in the form of cash, property, bonds, and stocks. Fortunately, financial services are able to handle asset management competently.

Financial Services #4 Business Banking Services

Business banking financial services are also an option for businesses that need help in managing accounts, income, payments, loans, and any other types of financial services needed. Business banking services are a very important part of the financial services sector.

If you are interested in financial services helping you manage your wealth, assets, make investments for you, or manage your business banking, and then you should contact several financial services providers in order to compare services and fees so you can find the one that is best for you.