Category Archives: Banking

Western Union Partners with PSI-Pay for New Digital Services

Published / by TheHI

Its name has been synonymous with money transfers since the 19th century. Offering Americans revolutionary wire transferring technology beginning in the 1870s, Western Union quickly became one of the lynchpins of American banking. And when they expanded their offerings to other countries, they became the single most relied upon method of money transfer for the majority of the world’s population.

 

However, as digital transfers became popular, and a host of new service providers entered the market, Western Union found themselves losing market share to their new digital rivals. Consumers grew wary of long wait periods for their money. When a variety of options, such as Paypal, offered faster service in addition to all-digital platforms, they created accounts en mass.

 

Western Union took notice and recently partnered with PSI-Pay to offer new digital services along with their traditional wire transfers. The result has been a transformation of the company into the modern digital age. PSI-Pay technology will allow consumers to use local banks around the world for money transfers.

 

The new services are based around PSI-Pay’s ecoPayz architecture, allowing customers to send, receive, and make purchases online. They also offer prepaid debit cards, which allow customers to withdraw money without the need for traditional checking or savings accounts. They simply walk to the nearest ATM and make their withdrawal.

 

The implications of this new partnership are enormous. Given Western Union’s operational structure and global presence, it is easy to see this operation becoming the global standard, where money can be sent nearly instantaneously with the click of a mouse or the swipe of a finger, from anywhere in the world. With nearly $300 billion in transfers in 2017 alone, Western Union’s new digital foray may spell doom for its competitors.

 

PSI-Pay is the next chapter in Western Union’s storied history. It is the digital entrance they have been looking for. And with the infrastructure in place to quickly expand their coverage, Western Union is positioned to make a significant impact, this time without the need of their iconic telegraph poles.

 

 

 

https://www.zoominfo.com/c/psi-pay-ltd/347918387

ANIL CHATURVEDI A FINANCIAL EXPERT

Published / by TheHI

Anil Chaturvedi attended the University of Meerut in the year 1971, India. He graduated with a B.A in Economics and later studied in the University of Delhi and was awarded M.B.A. During his vocational journey; Anil Chaturvedi has played different roles to different organisations that include Managing Director, Branch manager among others. Chaturvedi over 20 years of experience in Retail, Financial organisations and Telecommunication. In the year 2001, Mr Chaturvedi served as the Director of the Bank of America. Anil Chaturvedi worked at BOA-ML for more than 18 years and was among the world best top private investors. He is recognized as the senior rated Financial Advisors in Barron’s list, in the year 2010.

Before working with Merril Lynch, Chaturvedi was the head of ANZ Grindlays firm. Previously Anil worked for State Bank as the manager of their new branch in New York. He also worked with SBI for more than 18 years in the finance department, investment banking sectors and capital market. He joined the firm after completion of his studies of economics in the school of Delhi. In the year 2001, November, Chaturvedi joined the Bank of Hinduja (Switzerland) firm to work as the Director in charge of spearheading the company operations towards the Middle East, South Asia, and India. Anil Chaturvedi is based in Geneva Headquarter.

Since the beginning of August 2013, Anil Chaturvedi attention has been channelled to the Company’s Corporates Advisory that facilitates the collaboration between the Indians corporates and also the Europeans at large. Anil Chaturvedi was in charge of Reliance Capital organisation, before moving to Dhanlaxmi bank in the year 2008, October. Chaturvedi took the opportunity to invest his capital to hire people and market the firm but later refused to be named as a partner of the firm. Dhanlaxmi has over 4,000 employees, with the wages amounting to Rs 250.

The modernisation procedure of innovation in Indian organisation has for the most part been joined by an extravagance towards mechanical change and an ability to explore various avenues regarding better ways in dealing with the administration of mechanical assets. The genuine test of modernisation consequently lies not in building up the capacity to choose, acquire and draft new abilities and staff however much reorienting the associations’ disposition towards their human component.

https://fms.almaconnect.com/alumni/company/state-bank-of-india

Igor Cornelsen Has Established The Foundation Of Proper Investment Techniques

Published / by TheHI

Igor Cornelsen has committed a great portion of his life going to various schools which allowed him to become highly skilled in investment strategies and portfolio management methods. Those skills landed Igor with an opportunity at one of Brazil’s top banks. Not long after accepting his first job, Igor made his way up the corporate ladder to hold an executive position. After holding many high job titles at different top bank branches, Mr. Cornelsen stepped away from the banking industry and dedicated his time to investing as his main career. He discovered shortly after entering the investment industry he had a talent for seeing a high-profit investment. Follow Igor Cornelsen on Twitter

Shortly after Igor Cornelsen changed career paths, Igor founded Bainbridge Investments Inc., which is located in the Bahamas. The concept behind Igor’s company is simple, to help investors plan long-term investments and to acquire knowledge of the investing industry. Mr. Cornelsen uses the term safe harbors often when speaking about long-term investing, which essentially means safe investing. When investing, it is very important to know the market and how it works, the ins and outs of the country as well as the restrictions and requirements that are made in that area. Read this article at affiliatedork.com about Igor Cornelsen

All the knowledge, experience, and well-established relationships that Igor Cornelsen has built during his long career will continue to grow and keep him investing for many years to come despite his retirement. When the stock market crashed it was Igor’s knowledge and his experience that led all entrusted investments including his own to remain secure. Even after the stock market collapsed, Igor continued investing for many years until he semi-retired in 2010. Now Mr. Cornelsen uses his leisure time for his second love, which is golf. When he isn’t discovering a new course or playing on of his favorite fairways in either Florida or Brazil, Igor is managing his investment company Bainbridge Inc and acting as a consult for Bainbridge.

More info at https://igorcornelsen.tumblr.com/

 

Two old men who have been driving Brazilian technology

Published / by TheHI

It is often said that there are few really great tech innovators under the age of 50. But in the Brazilian banking sector, two of the largest proponents of new technology have been the leaders of Brazilian banking giant Bradesco, both of whom are well over the age of 60.

Lazaro Brandao, who recently announced his departure as chairman of the Bradesco board of directors, is 91 years old. As chairman, he has long been a staunch advocate of integrating technology to the greatest extent possible into the firm’s banking products. In fact, as CEO from 1981 to 1999, he was among the first business leaders in Brazil to start focusing on creating online platforms, where customers could do much of the same types of banking tasks that previously would have required them to drive to a branch.https://banco.bradesco/html/prime/sobre/nossa-historia.shtm

Brandao has stated that one of the most important challenges the bank will face, going forward, is the nearly 13 million of its customers who the inveterate chairman describes as technologically illiterate. But far from throwing up his hands in despair, the venerable banker believes that it is Bradesco’s duty as a good corporate citizen to embrace the challenge and teach these customers enough about technology that they can interact with the bank’s online platforms. Brandao doesn’t view this is merely a good business decision. He says that it is important for Bradesco to act as a leader in the development of both the economic and human capital of the country, a role that he has embraced since first taking executive roles in the early 1980s.

In the same vein, Luiz Carlos Trabuco, the outgoing CEO of Bradesco who will soon take Brandao’s old job as chairman, has likewise viewed the adoption of technology and innovation of online and mobile banking products as a core developmental strategy for the bank. Under Trabuco’s watch as CEO, the bank developed the Next system, an online banking platform that has enabled millions of Brazilians to access all of their banking services through their online and mobile devices. This program ultimately proved so successful that the Next platform was spun off into its own company.

Trabuco’s departure marks the end to one of the most volatile reigns in the bank’s history. Inheriting an extremely tough macroeconomic climate, Trabuco did his best to maintain the firm’s position in the market. But after taking over in 2009, shortly before Bradesco’s archrivals, Itau and Unibanco merged, Bradesco’s stock price was pummeled down to less than 20 percent of its value when Trabuco took over as CEO.

However, Trabuco was then able to pull off one of the greatest coups in the history of Brazilian finance. In mid-2015, he announced that Bradesco would be acquiring HSBC Brazil, in its entirety, for $5.2 billion in cash. The completion of this deal instantly rocketed Bradesco back to the number-one position, sending the stock price soaring and redeeming Trabuco in the eyes of shareholders and the market at large.

Since the acquisition, Bradesco’s share price has continued to climb, currently trading at more than 2.5 times its 2015 lows. But even as Trabuco steps down from the role of CEO, many believe that he will continue to have an almost singular influence over the direction of the firm, even as chairman of the board. If the past is any guide, the next few years will see Bradesco even more aggressively pursue technological innovations, driving more customers to its mobile banking products and very likely making raids into its competitors established territories and looking to steal away customers.

Bradesco has never been in a better position to capitalize on its technological advantages