Sunday, April 29, 2012

The Implementation Of Kpi In Retail Banking

Looking at the typical bank, it would be so easy to assume that managing or operating a bank would be somewhat of a breeze. However, this is not so, especially when it comes to retail banking. There are so many factors at play here that concrete and accurate analysis can be very difficult for any bank manager or proprietor. Fortunately, this endeavor can easily be achieved with the help of KPI in retail banking.

What exactly is a KPI? This is actually an acronym that stands for Key Performance Indicator. This is a quantifiable factor that is used to measure the current performance or status of a business or enterprise, matching this against the goals and objectives that were once set way back during the foundation of the enterprise itself. In laymen's terms, KPIs are measures used to determine how far along a business or enterprise is in its path towards achieving goals and objectives. Such is the purpose of the KPI, and this is very much needed when it comes to retail banking as well.

So, what are the KPIs that should be used in the industry of retail banking? These are actually the factors that are related to the overall performance of the retail bank. This is a very broad definition of the type of KPI that you can use in retail banking. To be more specific, here are some of the following metrics that you can use.

One of the metrics that you can use is the total cash deposits that the bank holds in a month. This should be included since this can measure how effective the retail bank is in attracting their customers and clients to make as many deposits as possible. After all, a retail bank earns its profit from the deposits that their clients make, right? Thus, this should be a metric to be included. In relation to this metric, the average annual deposits should also be used as a metric.

Another metric that you can use is the average number of depositors for each branch of the retail bank. Retail banks do branch out over time, especially when business is going well. Thus, it is important to determine the average number of depositors in each given branch. This still pertains to the ability of the bank to attract depositors.

The ratio of active depositors to dormant depositors should also be included as a metric here. We all know that not all accounts in a bank are active. Having a large number of dormant accounts is something that banks want to avoid because this would only mean bad business for them. Thus, this should be included as a metric as well.

The rate of borrowing risk should also be calculated. Banks are primary lending institutions, and when it comes to lending, banks should very well gauge the risk that comes with granting loans. For this, the bank should exert efforts in determining the possibility that the borrower would end up not being able to pay his loan once it matures. There is also that risk that the borrower might default.

These are just some of the KPI in retail banking that you should consider including. With these KPIs, the retail bank's operations can run more smoothly.

The Financial Market Place At TESCO Online

The universal financial market is serviced by Tesco the initiator of financial services through telephone and via the its website as well. Tesco proffers loans of all kinds such as home loans car loans study loans travel loans pet insurance and many such facilities to fulfill the financial needs of its customers at reasonable rates. Tesco gives out both secured as well as unsecured loans where in the earlier one the customer has to give some security and the same is not required in the former one. The loan from Tesco can be obtained in a much easier manner for the secured one based on the value of the asset.

Even those customer having unfavorable credit back track can avail loans from Tesco on the basis of age income and work status. Do not look to any other financial company than Tesco for all your loan needs as this is the best in terms of viable interests rates adaptable repayment terms balance transfers and also financial disclosure of the conditions of loan disbursement.

Tesco also provides expert economic analysts to the customers to help them reach an informal accord to repay their debts and avoid bankruptcy. Additionally Tesco also provides all these facilities online with just a one step registration to its customers for free making their financial needs hassle free. The protection of the personal financial details have to be ensured by the customer and for this Teco online give the opportunity to tryout the services for a temporary time frame before going in for the sign up.

Tesco even suffices the customer with financial products such as insurance credit cards loans and savings accounts at very attractive rates with stimulating discounts. As traveling is not free from hazards these days Tesco has come up with the product travel insurance. The insurance quotes and information is made available directly to the customers on the website. Tesco also provides a comparative chart for the insurance quotes of other leading financial companies before opting for the best one.

There is no better company than Tesco to help fulfill the financial goal of the common man. The servicing of many new products and that too online has made Tesco the number one company for providing financial services worldwide. It is like a one stop shop financial supermarket for all the your financial needs without undertaking the trouble of approaching multiple finance companies.

Saturday, April 28, 2012

Wgat Do You Know About The Payday Loans For Impulse Buys

Impulse buys are one of the ways in which credit card holders tend to get themselves into long-term trouble for a bit of shotr-term gratification. Avoiding this situation is much ezasier if one uses payay loans and cash advance loabns in lieu of their credit cards. Crwedit card companies rely on people's natural desire to gather items and bring them home to derive up the amounts on those consumer's accoutns. Whie one may make impulse buys with a payday loan, there are some aspects of this lending that create a bit of a cooling off period.

When one is in the chgeckout aisle or in a very flaashy store, it's very easy to see something on the shelves that tempts one and, if one happens to have a credit card, it takes only a few seconds to justify the purchadse, even if one is scraping the ceiling on their credit limit. With a payday loan, the individual will be requiered to consider the value of this purchase for a bit before they seecure the funding and, best of all, they'll be reqyuired to leave the store and they're removed from the stimnulation.

A payday loan can be taekn out very quickly. Most of the lwenders operate from websites and securing the funding usually takes under a half an hour in total. One needs to present the lender with proof of their address, their identity and their employment. The borower will be allowed to take out an amount of money that constitutes a percentage of their expectted payment in accordance with state laws. This liimtation tends to put a sensible limmit on what one can borow; a much different situation than that which exists wherre credit cards and revolving acccounts are concewrned.

The payday loan, though it is fast, is not neazrly as fast as is hwipping out one's credit card and sliding it through the machine. There is a phenomena with impulsse buying whee the "charm" of the item is instantly diminished once it is brought home. With a payday loan, the trip home to take out the loan and the deelay befoer the fnuds are deposited allow the consumr to get back into their rational thought process and to realie that, perhaps, they'd rather keep that credit for another occasion when it really matters. The limit on borowing and the fast payback timees of payday loanns also make one consider whther the impulse buy is ttruly wrth the price.

Wghile credit card companies do prefer that teir customers never pay off thheir debt entirely, paydy leners prefer that the debt is paid back in very shrot order. For those who have a prolem controlling their spending, it may be a better option to cut up the card and to rely on pzayday lenders. One may soon find that, when they do take advantage of these looans, it is for more substantial purposes than simply satisfying one's very natural inclination towards shhort-term gratification.

Thursday, April 26, 2012

Payday Loans No Credit Check-stop Worrying About Monetary Constraints

Because the title indicates, payday loans no credit check are loans which will be availed by individuals having a very good credit history or even for individuals who have a bad history. Now, you can stop worrying about your credit score historical past and apply for a payday loan. It is fairly a normal reality that every one types of folks face monetary constraints in at the moment's world. It might be in the type of unexpected incidents or accidents or shopping for a new car or any of those sorts. In right now's client oriented world, companies are keen to provide customers with the money in order that they can about satisfying their whims and fantasies. Without enough money for their wants, folks can simply slip into desperation. They feel that it's undeserving residing a life the place you don't get to benefit from the pleasures of this materialistic world.

A few years back, banks and financial establishments had been very stringent of their norms for providing financial loans. They would conduct a detailed investigation into the financial historical past of the applicant and sanctioned it provided that they discovered it satisfactory. An individual with a adverse credit history merely didn't stand a chance on this fearsome scrutiny. However, banks have realized that this enterprise model wouldn't survive on this twenty first century. The essential perception is that no particular person would stay poor endlessly because the world that we dwell in offers tremendous opportunities to earn money. Therefore, they are willing to take that further risk and provide loans for individuals even with a foul credit. That's how payday loans no credit check got here into existence and has gained large popularity over these few years.

This vast unfold popularity of those payday loans have resulted in a lot of the companies providing such loans for his or her customers. In precise fact, irrespective of which part of the nation you are located, you'll have the option to easily find a financial firm that gives payday loans. For instance, if you are a resident of Washington and desires to seek out the businesses offering this service in your area, all you'll want to know is search the internet for Washington payday loans and you'd get a listing of all such companies.

The internet undoubtedly has simplified our lives and applying for loans are so much easier than they were a decade ago. All you have to do is to go to the website of the corporate and replenish the net utility form. The company officials will evaluate your software and in the occasion that they discover it satisfactory, the mortgage might be sanctioned immediately.

These payday loans no credit check usually carries a compensation period of two to 3 weeks. The rates of interest are nominal and are actually affordable. There is even an option to extend the reimbursement period by contacting the corporate and paying them a specific amount of money. It is recommended that you simply don't miss the repayment date for the reason that rates of interest can increase considerably and you might end up paying numerous money.

Tuesday, April 24, 2012

Second International Seminar: Trade and Project Finance took place

8 November 2011, Kyiv: Second International Seminar: Trade and Project Finance took place with the participation of world's second largest Export Credit Agency (ECA) of the Netherlands Atradius Dutch State Business NV, international bank Rabobank, as well as the experts of IBcontacts company. The event was supported at the international level by the Ministry of Economic Development and Trade of Ukraine and the Embassy of the Kingdom of the Netherlands in Ukraine.

Heads and owners of fifty Ukrainian and foreign trade and industrial companies that develop their business at the international level and attract foreign capital visited the Seminar. The event was held in an interactive mode with the experts from IBcontacts being masters of ceremony.

At the Second International Seminar Mr. Volodymyr Tkachuk, Deputy Director of Trade and Economic Cooperation Department of the Ministry of Economic Development and Trade of Ukraine, outlined the current economic situation in Ukraine as well as promising directions of country's export.

Mr. Rogier van Tooren, Second Secretary of the Embassy of the Kingdom of the Netherlands in Ukraine, speaking about bilateral economic relations of Ukraine and the Netherlands, said that the Netherlands is among five largest investors of Ukraine. The general amount of investments is US $ 4.7 billions, with the largest share in industry and construction. The Netherlands is also one of 15 largest trade partners of Ukraine.

"Finance availability is now a key factor in a trade agreement. Foreign exporters of the same level, with products of nearly equal quality, are competing in more favorable finance conditions for their buyers, unlike before when they were competing in the quality of goods. And since a Ukrainian company is a party to the agreement and the one that pays all accompanying expenses when attracting foreign finance, it is essential for heads and finance directors of Ukrainian companies to understand the principles and details of different schemes of attracting foreign finance" commented Ms. Kateryna Barabash, Managing Director of IBcontacts about the trends of international trade.

Mr. Stephan Naber, Underwriter/Regional Specialist (Eastern Europe) of Dutch ECA Atradius, described the structure as well as the procedure of export credit insurance, insurance products, kinds of risks covered by Atradius, requirements to Ukrainian companies, and the general policy of Dutch state ECA regarding Ukraine. Mr. Han Bartelds, Vice President of Rabobank, emphasized the advantages of export credit insurance, outlined its schemes, specific features of company assessment and financing, as well as shared his experience of cooperation with Ukrainian companies.

IBcontacts experts Ms. Anna Pobedymska, Head of Project Department, Mr. Oleg Dorofeev, Head of Legal Department, and Mr. Vilen Kharchenko, Head of Finance and Analytical Department, analyzed the barriers in international trade at the level of state, company and entrepreneurs, and defined the ways to mitigate trade risks.

These experts identified the obstacles for Ukrainian companies that hinder attracting foreign finance and the ways to overcome them, namely: financial and organizational barriers (e.g. absence of reporting in accordance with international standards, "group of companies" scheme), barriers of legislative and procedural character (custom and monetary regulation).

"We often face the situation when companies refuse to provide financial information at the request of ECAs due to lack of awareness about the negative effects of it on their relations with foreign partners. As a result, ECA is likely to make a negative decision in regard to export risks insurance of a Ukrainian borrower" noted Ms. Anna Pobedymska.

"A Ukrainian company can also face obstacles that seem to be uncommon in Ukraine. For example, IBcontacts has had a project, the implementation of which depended upon its impact on the environment. Most of the Ukrainian companies consider this factor insignificant, unlike European companies do. Moreover, Atradius regards the absence of conclusion about the impact of a project on environment as a considerate ground to abandon ensuring risks" added Mr. Kharchenko.

The practical part of the Seminar became a platform for Ukrainian companies to share their experiences in attracting foreign finance on security of export credit agencies to enhance production.

"Direct financing (i.e. without participation of a Ukrainian bank) of our company involving foreign ECA and financing banks is a bright example of the availability of this instrument to both large market players and importers that aren't included into top-100 companies, commented on the experience of "ZhL" confectionary factory its General Director Mr. Yevgen Gamov. In spite of certain difficulties, an independent implementation of the project was our great success which enabled us to raise our international reputation. It should be noted that our projects are coordinated by the experts of IBcontacts. The reason is that this instrument is new for most of Ukrainian companies. Though when attracting international finance, it is important to be aware of the special features of ECAs as well as demands of foreign ECAs and financing banks to buyers. It is also necessary to use different approach while cooperating with each ECA or financing bank."

"Mriya" Agroholding has been attracting foreign finance with the participation of foreign export credit agencies since 2008. Attracting direct foreign finance has a number of advantages, i.e. long terms, cheap resources and no pledge. Besides, direct cooperation with foreign ECA and financing bank obliges a Ukrainian company to have a list of clear, specific, structured and predictable requirements from these market players" according to Ms. Olga Rybachuk, Head of Foreign Finance Division of "Mria" Agroholding, who shared her experience with the participants of the Seminar.

In his turn, Mr. Rob Coppejans from Robinvest Reeuwijk B.V. shared the experience of Dutch exporters' cooperation with Ukrainian buyers.

Thus, by virtue of the presence of all elements of export finance scheme (ECA, bank, company-advisor) the participants of the Seminar were able to form a complete image of the process of attracting cheap and long-term finance from abroad on security of ECAs, to receive answers to all interesting questions, as well as to learn the experience of the companies that had successfully attracted foreign finance.

The experts of IBcontacts company and Atradius pursued the series of innovative seminars conducted in an interactive format. The First International Seminar on Trade Finance was organized by IBcontacts company on May 19, 2011 in cooperation with the world's leader in trade and project financing, German ECA Euler Hermes.

For more information, please contact Ms. Iryna Vasylenko, Head of IBcontacts Communications Department via phone +38 044 359 02 00 or e-mail

Monday, April 23, 2012

Bank Checking Accounts For Bad Credit

The terms or laws applicable to the checking account you choose are determined by the servicing bank and are subject to the Federal Reserve's regulations. These rules may change as deemed necessary but your bank will be required to notify you of any significant change in terms. This commonly happens to changes in interest rates or fee changes made by the bank.

What Causes Bank Checking To Be Denied...

Because banking is a highlyregulated industry, an individual who hopes to get a checking account with bad credit may still be subjected to an approval process. This makes it difficult for people with a bad credit history or an negative entry under the Chex Systems to get a bank account approved.

The Chex Systems is an organization that maintains records for financial institutions on former or current account holders who have had or are having problems maintaining their account in good standing. Bounced checks are the most common red flag the Chex Systems records and remembers. What happens is that when you bounce checks at a high frequency or have an account that is overdrawn for an extended period of time, this information will be submitted to the Chex Systems and the possibility of your opening another account will be made more difficult in the future.

You may seek to take your name off the Chex System and fix your credit history in order to get a new bank account approved. If you want professional help to fix your credit reports check out our recommended bad credit repair services today.

Typically, the account holder's name will stay on the Chex Systems list regardless of the account settlement period. Being listed with Chex is not the end of the world though, banks needs new customers and seeks to keep existing account holders, so the possibility of opening a checking account is still available. There exist a number of checking account product offerings which are generally considered second chance accounts.

Providers of Bad Credit Bank Checking

The following companies provide bank checking accounts for bad credit people. In some cases the bank simply doesn't reference the Chex System or the bank specifically offers bad credit checking accounts:

Bank of America Advantage Checking Account
JP Morgan Chase Access Checking Account
Wells Fargo Opportunity Checking Account
Citizen Bank Second Chance Checking Account
PNC Bank Fresh Start Checking Account
US Bank Second Chance Checking Account

In addition there are a number of state specific local banks that offer second chance bank checking accounts for people with bad credit. These banks can be found referencing the state you live in and referencing their websites. Digital online banks are also enjoying an increase in popularity and a number include second chance checking accounts in their product offerings as well. The proliferation of these bad credit account types being offered in the financial market is in response to the growing demand caused by the recent economic challenges that have unfortunately left many people with bad credit. Credit Unions are adapting and offering second chance checking to meet the needs of their customers.

Second chance checking accounts have the following benefits and advantages:

They provide accounts holders the chance to rebuild credit reputation. Managing a household is tough, with a number of bills needing constant attention and access to a checking account helps with the accounting. While bills are being paid via check, atm or debit, account holder credit ratings can be improved. Using the bad credit checking account to pay your bills, as opposed to using cash, allows you to document responsible financial management. Proper credit building account management requires no bounced checks and other forms of returned payments due to insufficient funds. Penalties which may be charged such as overdraft fees need to be avoided.

Checking accounts for bad credit can be expected to have fees that are higher than regular checking accounts and they typically do not earn interest. This is the tough break businessside of getting flagged as a checking high risk account holder. For banks offering second chance accounts, they offset the additional risk with additional costs and less benefits. As an account holder you should make sure to remain compliant with the bank's policies, to stay in their good graces, and get a better checking account when you have fixed your reputation.

Monthly service fees are applicable and may not be waived or refunded. Bank's are simply less flexible with bad credit accounts. Free is no longer a financial staple when it comes to account maintenance costs for second chance checking. Fees may only be adjusted for these accounts if a bank error is found, though we recommend talking with your representative all the same, it won't hurt and helps build the relationship.

Second chance checking usually offers the option for an upgrade to a regular checking account after a trial period. With due diligence in proper account management, as an account holder you can eventually improve your credit and move up to the greater benefits of a normal bank checking account. For most banks, maintaining the account as expected and as stated in the terms and conditions can lead to the upgrade after a pre-determined period. The upgrade can also include your eligibility for a savings or other interestbearing accounts.

Second chance accounts have restrictions, there is no way around that. Your bank checking account may be classified as a checking account, but expect your second chance accounts to have limitations and not operate exactly as a typical checking account does. For example your bank may not allow you to issue personal check payments, your debit transaction amounts might be limited, and you might have a minimum daily balance maintenance requirement which can be a fixed amount before or after all debit activity. These restrictions vary per bank, it is important just to be aware and follow the rules.

Following a review of bank checking account for bad credit services, it is clear that what is created is a relationship of shared responsibility for both the bank and the account holder. The bank assumes the risk for permitting a customer to get an account despite any past mishaps. While you are empowered with second chance access to checking, but are expected to meet the responsibility, or to exceed expectations and rebuild your reputation to regain all the benefits a clean credit history can provide.

Final note of caution: In your search for a bad credit bank account, you may be asked to pay an application processing fee, do not. These fees are illigal and a sure sign that you are not working with a trustworthy, proven second chance checking provider.

Your new checking account will provide make you eligible for our recommended personal loans for bad credit that can deposit money into your account within hours of your completing the easy 5 minute online application. Check out our favorite offers for fast cash today...

How does a reaffirmation agreement work in a chapter 7 bankruptcy?

A reaffirmation agreement is an agreement between a creditor and debtor in which it is agreed upon that a debt, which would otherwise be discharged as part of filing for bankruptcy by means of a chapter 7 bankruptcy, will be paid.

A typical example of where a reaffirmation agreement would come into place when filing bankruptcy is when the debtor wishes to keep his vehicle. The vehicle will have a loan on it but the debtor wishes to keep the vehicle because it is needed to drive to and from work and is necessary as the debtor's only means of transportation.

This example only comes into effect when the file for bankruptcy is by means of a chapter 7. In a chapter 13 bankruptcy the vehicle loan is retained and paid through the bankruptcy plan.

Reaffirmation agreements pose a number of bankruptcy questions and can sometimes cause problems and issues that occur. The bankruptcy attorney representing the debtor has to sign an affidavit attesting to a number of representations. The bankruptcy lawyer is attesting to the fact that the payment on the car loan will not present a financial hardship to his client. Also according to bankruptcy law,the bankruptcy attorney is representing he or she has fully advised their client on the legal repercussions of the reaffirmation agreement and that their client is doing so voluntarily and having been fully informed.

In some chapter 7 bankruptcy cases the bankruptcy lawyer is not prepared to sign the affidavit. Essentially bankruptcy attorneys sometimes think their clients cannot afford to make the payments on the debt that is being reaffirmed. In these types of situations, according to bankruptcy law, it is up to the judge to decide if the debtor can in fact afford to make the payment.

Other complications involving a reaffirmation agreement in a file for bankruptcy are the process of qualifying alone dictates that the debtor cannot have substantial funds remaining after the allowable IRS expenses. Hence having leftover funds to absorb the car loan payment may disqualify the debtor from the eligibility of filing for bankruptcy.

Saturday, April 21, 2012

Defaulted student loan - Tax offset (Tax Garnishment)

What is a Treasury Offset?

Under this Treasury Offset Program, the Financial Management Service, a bureau of the US Department of Treasury will offset Federal and/or State payments if a borrower fails to pay their obligation. While the most common type of Federal payment offset is Federal income tax refunds, several other types, including social security benefit payments, are also eligible for full or partial offset. In other words, if a borrower has an outstanding debt and they have incoming social security benefits, this too can be subjected to the offset.

In addition to defaulted debts held by ED, defaulted loans held by guaranty agencies are also included in the process.

Other Federal and State agencies also certify debts for offset, but Department of Ed has historically been responsible for the largest volume of offsets. As a result, many tax professionals, and even the IRS, will automatically assume that an offset has been requested by the Department of Ed when, in fact, it may have gone to some other Federal or State debt.

State Payments

State payments (e.g., State tax refunds), in addition to Federal payments, may be offset in the Treasury offset program. Just recently the treasury was requested to offset both Federal and State payments on out standing federal student loans.

What is a Treasury Offset?

The purpose of a Treasury offset is to recover the amounts for the Federal taxpayers without the cost of litigation fees. It was created to basically recover the unpaid debts arising from federally supported activities, which include student financial assistance.

Since 1986 the Department of Education has referred millions of defaulted student loan debts and grant claims to the Department of Treasury for collection by offseting against federal and/or state income tax refunds and any other payments authorized by law. The Department of Ed can request that Department of Treasury arrange an offset to collect any Federal defaulted student loan debt or grant claim. Once the Department of Educations refers a delinquent borrower to the treasury department these group of debtors are considered to be certified permanently as long as the account is in an active defaulted status (outstanding).

What does it mean if I am certified?

Once Department of Ed certifies a defaulted account for treasury offset, that account will remain certified for the life of the defaulted balance unless it is inactivated by law (e.g. active bankruptcies). Once certified, borrowers may not avoid offset simply by making voluntary payments. Borrowers may avoid offset by resolving the account through satisfying their account in full, settlement compromise (Partial pay-offs), completing the rehabilitation payment program, consolidation, or discharge by dispute. In other words, if a borrower is not disputing the account they would need to either pay the balance in full or bring the account back to a current status.

How can I check if I am certified for Treasury offsets?

There are several ways to go about checking if a defaulted loan holder is certified for Treasury offset. The most common route would be to contact Department of Ed directly; however in most instances the Department of Ed's customer service call center will often refer a borrower to the assigned collection agency currently holding the loan. A borrower is able to check with the collection agency if they have been certified for the offset because the collection agency has access to the same system as Department of Ed's customer service representatives. As mentioned above, these agencies are notorious for falsely advising borrowers by twisting their word tracks in their favor. The collection agency's main intent is to receive a commission from the Department of Ed for resolving the account so it may not be the wisest route. The best route to receive an unbiased answer would be to contact the Treasury Department directly. Most defaulted student loan holders are unaware that the Treasury Department has designated a call center to solely service individuals certified for Treasury offsets.

Department of Education's customer service number: (800) 621-3115

Treasury Department's designated offset call center: (800)304-3107

Other things that you might want to know:

Are there different types of compromises?
Standard compromises are compromises where the borrower:

* Pays only the current principal and interest (waiver of projected collection costs/fees)
* Pays at least the current principal and half the interest (50%); or,
* Pays at least 90% of the current principal and interest balance

What is the Rehabilitation payment program?
Rehabilitation payment program is the process by which a federal agency or a third-party given authority by a Federal agency, assess the borrower's financial situation to allow a payment arrangement. Through this process at the Dept. of Ed and the agency's discretion, the debtors will be allowed to repay their student loans through installment arrangements (payments). Only after the necessary documents have been obtained by Dept. of ED and the 3rd party agency the borrowers can complete the number of consistent payments required in order to successfully rehabilitate.