Prospering Banking Careers With Catholic Syrian, Karnataka & Lakshmi Vilas Bank Recruitment 2013

blogger /

With financial and banking needs of people of India being established by private banks, the role of these banks in Indian economy has got itself firmly rooted. Some private banks have been fulfilling the banking requirements of people in India from nearly the last four or five decades and these have also contributed towards providing job opportunities. Having been known in the South India as the leading examples of progressive development, banks like Catholic Syrian bank, Karnataka bank and Lakshmi Vilas bank have already taken their names to great heights. Not only have they started a new era in banking since the 60s and 70s in the country, a number of people have also got employment because of these banks and have established a flourishing career for themselves. These banks are not only the pride of the country but their principles have become well recognised by the governments in the states and the centre as well as by the Reserve Bank of India. Over the years, they have brought out employment advertisements and have recruited thousands of people to provide services to the people and expand into new horizons. Today, these banks are being considered at par with the nationalised banks and enjoy the status of favoured banks by the RBI. The important thing about these banks is that they have been offering clerical and officer positions for interested students who want to prosper in the field of banking. From time to time, their recruitment advertisements have been closely followed by people and the applications have been dropped with the hope of finding employment in the respected banks. With most of the branches in south India, particularly in Kerala, the Catholic Syrian Bank offers a wide range of employment options for the people in and around the state. With Catholic Syrian Bank recruitment 2013 being suggested in the future, it will be a golden opportunity for all those aspirants who are rooting for bank jobs as their career. For them, the recruitment offer will be a chance to find a foothold in the sector and keep their footing in the way to a glorious career. Progressive growth is the feature of these banking jobs which has attracted many people and the lure to work in a bank which is having a rapid expansion in the modern day India, brings in plenty of applications, whenever the recruitment advertisements are published. Karnataka Bank recruitment 2013 will also meet a similar fate of receiving a large number of applications because people are assured of a growth in their careers after being part of this private bank which has shown resolute determination to become a leader in banking solutions. Another opportunity for the banking job aspirants is provided in the Lakshmi Vilas bank recruitment 2013, where posts of officers and clerks are on offer. Interested candidates need to submit their applications for different posts according to their eligibility, so that they can appear in the written exams and then go for the interviews for finally being recruited in these banks. It will be an achievement for these aspirants if they are able to make it to these rapidly expanding and progressing private banks of the country, a goal which is worth the time and effort.

Catholic Syrian Bank recruitment 2013, Karnataka Bank recruitment 2013, Lakshmi Vilas Bank recruitment 2013 a>

Infinite Banking For Business – How To Make It Work

blogger /

Infinite Banking Systems are becoming a trusted vehicle for growing individual wealth. But there are also many practical and beneficial ways to apply the Infinite Banking concept to businesses.

Understanding the Infinite Banking System
The concept is the same. With the Infinite Banking System, you put yourself in the position of being your own bank. This is done through a dividend-paying whole life insurance policy. As your cash values begin to grow you can begin to lend yourself money. If you need to repair something in your home, for example, you can borrow the money from yourself using the cash values within your policy.

You set the loan amount, the interest rate and the payment schedule. When you pay the loan back, you pay yourself with interest. So you are financing and making money on yourself, instead of paying that money and interest to a bank or other financial institution. Even better, your cash values will continue to earn interest and you may earn dividends on your entire pre-loan amount, as if you had never borrowed money.

Applying the Infinite Banking System to a Small Business
For a small business owner, the Infinite Banking System has a variety of potential benefits. Loans from your whole life insurance can be used to pay for legitimate business expenses, including:

-space rental
-new equipment
-office supplies
-bonuses
-corporate vehicles
-business travel

These are only a few ideas. The limits are infinite. And as with policies that serve individuals, the more you use the Infinite Banking System for business purposes, the more benefits you’ll receive. You can create a cash side account or gain, simply as a bi-product of your regular business transactions.

So why would you do this? Because the IRS allows businesses to write off legitimate business interest expense. By funding business expenses through your dividend-paying whole life insurance plan, you create an investment return for yourself and a tax write off for the business. It’s a win-win relationship. You, the individual, loan money to the business. The business pays back the loan amount plus interest to you, increasing your account cash values. The business gets to write-off the interest paid on the loan as a legitimate business expense.

While business owners can use their personal whole life policies to fund business expenses, policies can also be purchased by the company on key individuals, offering the same benefits of cash value liquidity, loan opportunities and tax advantages.

Making Infinite Banking Work for Larger Businesses
The concept of Infinite Banking has been an accepted practice in larger businesses and corporations for some time. These types of businesses obviously have a much greater need for capital – far bigger in scope and volume than an individual or small business does. But the Infinite Banking concept is carried out through Corporate Owned Life Insurance, and its counterpart, Bank Owned Life Insurance.

Corporate Owned Life Insurance
Corporate-owned life insurance, or COLI, is traditionally purchased to cover a business’s key executives. These policies are also known as “key person” insurance. A corporation will purchase a life insurance policy on a key employee to cover the potential financial cost of losing him or her to unexpected death. The insurance coverage is intended to cover the cost of recruiting and training new talent and to offset the possible loss of business due to the key employee’s absence. It also helps a company recoup the possible cost of benefit payouts to the deceased employee’s family.

COLI accounts can be used in the same way as individual whole life policies. Corporations use their participating whole life insurance policies to build cash values. Just like with individual policies, contributions and gains accumulate tax-free, and loans can be made as needed for any business need.

Bank Owned Life Insurance
The financial industry has its own version of this type of insurance. Bank-owned life insurance, or BOLI, has been traditionally purchased by financial institutions for their key executives. And although its been an accepted practice for many years, its popularity is increasing. In 2008, for example, banks purchased $126.1 billion of whole life insurance.

Using COLI and BOLI as Infinite Banking Concepts
Because these corporate life insurance policies are usually for much larger amounts than individual policies, the potential for reinvestment and explosive cash value growth are much greater. Although the policies cover individuals, they are purchased to protect corporations and banks for their potential losses, boost Tier 1 capital and provide benefits that might not otherwise be affordable. So it is the corporation or bank that is the policyholder, and these purchasing institutions can use these policies much like an individual uses a participating whole life policy to fund the Infinite Banking System. Corporations can use the cash values within their policies to fund legitimate business expenses such as:

-Large equipment or machinery
-Employee retirement plan
-Employee Health & Wellness Plan
-Corporate Vehicles
-Your lease/building space
-Corporate Housing
-Travel Expenses
-Business Loans
-Adding Fringe Benefits to Attract Key Personnel
-Business Acquisitions & Merger

Corporations and banks have long known the financial benefits of infinite banking through their COLI and BOLI policies. By using a dividend-paying life insurance policy as a platform for the Infinite Banking System, now smaller companies can enjoy these same benefits.

Banking Technology Core Banking Solutions Vs. Pricing And Billing Solutions

blogger /

Banks have started realizing the importance of pricing as a banking enterprise entity. Core banking solutions fit well as technology solutions for banks’ day-to-day business.

However, the core banking solution itself cannot cater to all the fee-income needs of a bank. This is attributable to the complex nature of each bank with regard to its independent departments or business silos and their disparate systems. Over a period of time, what results is a severe inability to visualize the fee income or pricing of charges at the enterprise level.

How a Core Banking Solution Works
A core banking solution, often referred to as a CBS, typically has a GL subsystem at its core with plug-in satellite modules catering to the various divisions of the bank. The satellite modules, referred to as “modules,” cater to the business functionalities of the various lines of business of the bank. Typical CBS modules include but are not limited to:

Non-financial modules:

Customer definition and accounts
Customer limits definition, lines of credit, a central bank reporting structure
Messaging and advice
End-of-day processing modules, etc.

Financial modules:

Loans, deposits, money markets
Letters of credits and bills
Treasury
Liquidity management
Local payments and cross-border
payments
Nostro reconciliations
Interest and charge definitions, etc.

Each silo or line of business employs one or more of these modules to run its business. The modules are used to create contracts with customers at the branch level for various products. For example, a short-term, fixed-rate loan contract for the account of a large corporate customer has multiple components associated with it, such as the contract-principal component, tax component, interest component, product-preference component,
charge component, etc.

Transactions are generated at the component level during various events of the contract life cycle, such as contract initiation, booking, accrual, liquidation, rollover, advice generation, contract cancellation, etc. Such dollar (or any other currency) transactions hit the accounting and GL subsystem at the core. Thus, the core GL and accounting system ties the various silos together.

As we have seen, the CBS and its modules are used by the lines of business to manage customer contracts and their life cycles as well as most income classified as non-fee income.

Core Banking and Fee Income

The modules in a CBS have a charge component associated with a customer contract that allows the bank to charge fees. This charge component can generate transactions during various events. The charges, however, are only basic charges that could be required at an account-contract level.

In practice, there are multiple other fees and charge components that banks capture using multiple fringe systems in each silo.

The Limitations of Core Banking Solutions for Fee-Based Income

Fee-based income plays a significant role in the overall profitability of a bank. Limitations on the growth of traditional spread-based income have only led to an increase in the weight of fee-based income.

Hence, banks are looking for a way to view charge income at the enterprise level-i.e., a single-customer view of all of a bank’s fee-based income. This means there is a need for the ability to develop enterprise-level pricing strategies, charge the customer at the relationship level, give a bundled fee offering to the customer, etc. A CBS and its modules are not designed to cater to a need for enterprise-wide pricing and billing.

Conclusion

A core banking solution is mainly used to manage the spread-based income of a bank. The fact that the fee income of a bank is a key differentiator in terms of profitability only increases its importance in the current scenario.

Having an enterprise entity and pricing strategy is important to the fee-based income of a bank. A pricing and billing solution helps manage the fee income of a bank by providing a single-customer view of all charges across the bank’s product silos. A pricing and billing solution, hence, brings to the table a unique value addition to a bank by helping it maximize its fee income.
– BankingCrossing

Off Shore Services Perfect Banking Solution

blogger /

You might be definitely looking for a place wherein you could save all kinds of hard earned money without facing any issues. You might have struggled so much in order to keep all your money safe and there are many ways wherein you could invest the money without fearing about the risk associated with the procedures. Have you heard about the Swiss bank accounts? There are many bank operating in the European territory which in a way is allowing many foreigners to open the Swiss bank accounts without facing any issues with the passage of time.

In fact most of the people are actually interested in going to these banks for keeping their assets safe as the procedures for opening up the Swiss bank accounts are very easy as well as risk free. The main factor which in turn is helping the people to move on to the cutting edge is that the economical as well as the political conditions are highly risk free without facing any issues with the passage of time. This is in a way helping the people to move on with the activities without fearing about the loss of money that is actually getting invested in the foreign accounts. You might be really confused on hearing about these factors as you are giving out the money to far off land.

There are many procedures that are actually available in the present world wherein people are really interested in moving on with the procedures in the right way by giving out the best security in the right manner. You are given the freedom to access all the account details and banking status by making use of the highly secure websites as internet is turning out to be one of the cheapest means of communication. Also you could move on with the wire transfer procedures by making use of the low transfer rates without any issues with the passage of time. This in a way is not creating any delays with the passage of time and as a result there are many banks giving out the same facility to the people. Most of the people are starting up the account mainly to cut down the tax amount that has to be paid to the government during regular intervals of time.

Banking Graduate Schemes & Internships The New Way

blogger /

To secure a Graduate Role Or Internship In Banking And Finance Right Now, you will need to be at doing things differently to everybody else.

Right now, I see so much opportunity, in fact, unparalleled in comparison, but with as much frustration from people that are still doing things with old strategies.

I would like to give you an insight into offer attracting strategy.

I’ve been testing over the last few months on some of my private clients.

I think it is worth defining a strategy right now.

I’ve titled this article deliberately because words are powerful things and the way that you word things, especially on your CV’s, the way that you describe yourself at interview and in applications can be the difference between success and failure in Banking Graduate Schemes and Internships.

I’ve called this article ‘The art of offer attracting in banking and finance’ deliberately because offer attraction is the new way to secure careers in banking and finance.

Application is the old way.

Application is an old strategy, which is growing less and less effective. I’d like you to know that whatever result you are achieving in any aspect of your life right now, it is a function of two things.

One, your beliefs, and that’s not what this article is about.

Two is your strategy.

What I mean by strategy is that every single outcome and result you currently have, has a step by step set of actions that one can take in order to achieve the same result.

Many people don’t think of results like this, but for example, having a great relationship is a strategy.

There’s a step by step set of actions that one must take in order to have a great relationship

Being happy is a strategy.

That’s physiological and psychological states that one can tap into at any time.

Also, getting rejected from Banking and Finance Graduate Schemes is a strategy.

Wealth is definitely a strategy.

Wealth is a step by step set of actions that one can take in order to have complete abundance or complete scarcity, and a lot of people struggle with this one as well.

So what I would like for you to know is that anything that has been achieved is as a result of somebody’s strategy and you can compress decades into hours, minutes in some cases, by just finding those that have achieved the result you want and getting into the in-depths of the psychological and strategic strategy that they’re following.

Right now, people are receiving multiple offers in banking and finance as a result of the psychological and strategic strategy that they’re following. The goal of this article is to make you think what the exact strategy is that you are using.

And could this be the reason you may not be securing your ideal career in Banking and Finance, rather than just the tough market?

Have it be known, if your strategy is to distinguish yourself by achieving high academic results, doing an MBA and a Masters and then applying online for graduate schemes, you are doing things the old way, like the other tens of thousands of students and graduates experiencing hard times right now.

I would like to show you a new way, one that gets results right now…

Simon Dixon