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BAI – Finacle Global Banking Innovation Awards Announces 2012 Winners

Global Banks Honored for Vision and Leadership in Innovation


WASHINGTON, DC–(Marketwire – October 9, 2012) – BAI and Infosys today
bestowed the most innovative banks in the world with the prestigious
2012 BAI – Finacle Global Banking Innovation Awards. Now in its second
year, the global awards program recognizes and supports innovation in
the retail banking industry. This year’s honorees were recognized at a
special ceremony today at BAI Retail Delivery 2012 in Washington, D.C.


The winning financial institutions were chosen among more than 150
entries from over 30 countries for breakthrough innovations that
positively impact banks and their customers. The award winners were
selected by the Innovation Circle Judging Panel, an objective,
third-party board. This distinguished international group is composed of
prominent industry thought-leaders, academics and retail banking
professionals.

OCBC Bank, located in Singapore, earned the
Product and Service Innovation Award for FRANK, a radical approach to
addressing Generation Y’s different style of connecting and engaging
with financial institutions. FRANK branches — or “stores” — are
designed to specifically serve this group of young people aged 18 – 28,
through being conveniently and strategically located in campuses and
malls, the use of understandable language on signage and documentation,
and through a casual atmosphere where popular music is played, and where
interactive touch screens allow customers to shop and apply for their
personalized FRANK debit or credit card. Overall, FRANK allows OCBC Bank
to develop lifetime, personalized relationships with these consumers by
meeting their needs early on.

The award for Channel Innovation
was won by DenizBank, located in Turkey, for introducing the ‘Globally
First Ever’ Banking Platform on Facebook. With full online banking
functionality, the platform enables Facebook users to check their bank
account, see a total picture of assets and liabilities, send money to
anyone, anytime, purchase/enroll in consumer loans and credit cards, and
invite Facebook friends to use the platform, among other capabilities.


Alior Bank, located in Poland, received the Disruptive Innovation in
Banking Award for changing the banking services market in its country.
Alior Sync is a progressive, virtual bank that offers full-service
banking via a virtual platform with a contemporary means of
communication for its target segment, customers between the ages of 20
to 35. The innovative model of operations eases the facilitation of
processes involved in offerings and sales of products and services, such
as a fully online credit process — a first in Poland.

The Most
Innovative Bank of the Year Award was awarded to First National Bank, a
Division of FirstRand Limited, located in South Africa, to honor its
culture of innovation and advancement of retail banking. As part of
their innovative culture, the bank holds an internal competition, called
“Innovators,” that formally encourages and supports the process of
innovation and related competencies. Business units within FNB are
empowered to innovate through leadership buy-in and advocacy.


Debbie Bianucci, President and CEO of BAI, congratulated the award
winners for their creativity and excellence. “These banks serve as a
model of what can be achieved through innovation when it comes to
enhancing the customer experience and transforming our industry. Their
commitment and leadership set new standards for us, and we honor them
for their achievement. We look forward to seeing what future innovations
will come from the finalists and winners here today as well as other
banks around the world.”

Haragopal Mangipudi, Global Head –
Finacle, Infosys, commended the award winners for their ability to drive
consumer engagement through innovation. “Their original thinking is the
key to accelerating growth and increasing customer loyalty. As the
innovation partner for global financial institutions, we applaud their
outstanding efforts.”

To learn more about the 2012 BAI – Finacle
Global Banking Innovation Awards and to submit nominations for the 2013
awards, please visit http://www.baiglobalinnovations.com.

About BAI:


BAI is the financial services industry’s partner for breakthrough
information and intelligence needed to innovate and stay relevant in an
evolving marketplace. For more than 85 years, BAI has focused on
advancing the industry by offering unbiased education and research.
BAI’s offerings are as diverse as the industry, and include premier
events such as BAI Retail Delivery Conference & Expo, groundbreaking
research and performance metrics, professional learning and development
programs, and in-depth editorial coverage through BAI Banking
Strategies. For more information, visit http://www.bai.org

About Infosys:


Infosys partners with global enterprises to drive their innovation-led
growth. That’s why Forbes ranked Infosys 15 among the top 100 most
innovative companies. As a leading provider of next-generation
consulting, technology and outsourcing solutions, Infosys helps clients
in more than 30 countries realize their goals. Visit http://www.infosys.com and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is Building Tomorrow’s Enterprise

Pay Day Loans Know What The Payday Loan Is

Payday loans. Do you consider them as headaches? Do you know everything about these easy economic supporters? If no, you must understand these loans that can be helpful for you at any stage. Pay day loans are such options that arrange funds for people who need fast assistance to handle any emergency. They are the superb answers of your any problem and you can fix up any problem through the gained sum.

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The Evolution Of Business Analysts

Software application development has only been around since the late 1970s. Compared to other industries and professions the software industry is still very young. Ever since organizations began to use computers to support their business tasks, the people who create and maintain those “systems” have become more and more sophisticated and specialized. This specialization is necessary because as computer systems become more and more complex, no one person can know how to do everything.

One of the “specialties” to arise is the Business Analyst. A Business Analyst is a person who acts as a liaison between business people who have a business problem and technology people who know how to create solutions. Although some organizations have used this title in non-IT areas of the business, it is an appropriate description for the role that functions as the bridge between people in business and IT. The use of the word “Business” is a constant reminder that any application software developed by an organization should further improve its business operations, either by increasing revenue, reducing costs, or increasing service level to the customers.

History of the Business Analyst Role

In the 1980s when the software development life cycle was well accepted as a necessary step, people doing this work typically came from a technical background and were working in the IT organization. They understood the software development process and often had programming experience. They used textual requirements along with ANSI flowcharts, dataflow diagrams, database diagrams, and prototypes. The biggest complaint about software development was the length of time required to develop a system that didn’t always meet the business needs. Business people had become accustomed to sophisticated software and wanted it better and faster.

In response to the demand for speed, a class of development tools referred to as CASE (Computer Aided Software Engineering) were invented. These tools were designed to capture requirements and use them to manage a software development project from beginning to end. They required a strict adherence to a methodology, involved a long learning curve, and often alienated the business community from the development process due to the unfamiliar symbols used in the diagrams.

As IT teams struggled to learn to use CASE tools, PCs (personal computers) began to appear in large numbers on desktops around the organization. Suddenly anyone could be a computer programmer, designer and user. IT teams were still perfecting their management of a central mainframe computer and then suddenly had hundreds of independent computers to manage. Client-server technologies emerged as an advanced alternative to the traditional “green screen,” keyboard-based software.

The impact on the software development process was devastating. Methodologies and classic approaches to development had to be revised to support the new distributed systems technology and the increased sophistication of the computer user prompted the number of software requests to skyrocket.

Many business areas got tired of waiting for a large, slow moving IT department to rollout yet another cumbersome application. They began learning to do things for themselves, or hiring consultants, often called Business Analysts, who would report directly to them, to help with automation needs. This caused even more problems for IT which was suddenly asked to support software that they had not written or approved. Small independent databases were created everywhere with inconsistent, and often, unprotected data. During this time, the internal Business Analyst role was minimized and as a result many systems did not solve the right business problem causing an increase in maintenance expenses and rework.

New methodologies and approaches were developed to respond to the changes, RAD (rapid application development), JAD (joint application development), and OO (object oriented) tools and methods were developed.

As we began the new millennium, the Internet emerged as the new technology and IT was again faced with a tremendous change. Once again, more sophisticated users, anxious to take advantage of new technology, often looked outside of their own organizations for the automation they craved. The business side of the organization started driving the technology as never before and in a large percentage of organizations began staffing the Business Analyst role from within the operational units instead of from IT. We now have Marketing Directors, Accountants, Attorneys, and Payroll Clerks performing the role of the Business Analyst.

In addition, the quality movement that had started in the 70s with TQM, came into focus again as companies looked for ways to lower their cost of missed requirements as they expanded globally. The ISO (International Standards Organization) set quality standards that must be adhered to when doing international business. Carnegie Mellon created a software development quality standard CMM (Capability Maturity Model). Additionally, Six Sigma provided a disciplined, data-driven quality approach to process improvement aimed at the near elimination of defects from every product, process, and transaction. Each of these quality efforts required more facts and rigor during requirements gathering and analysis which highlighted the need for more skilled Business Analysts familiar with the business, IT, and quality best practices.

Future of the Business Analyst Role

Today we see Business Analysts coming from both the IT and business areas. In the best situations, the Business Analyst today has a combination of IT and business skills. Each organization has unique titles for these individuals and the structure of Business Analyst groups is as varied as the companies themselves. However, there is a core set of tasks that most Business Analysts are doing regardless of their background or their industry.

The Business Analyst role becomes more critical as project teams become more geographically dispersed.
Outsourcing and globalization of large corporations have been the driving factors for much of this change recently. When the IT development role no longer resides inside our organizations, it becomes necessary to accurately and completely define the requirements in more detail than ever before. A consistent structured approach, while nice to have in the past, is required to be successful in the new environment. Most organizations will maintain the Business Analyst role as an “inhouse” function. As a result, more IT staff are being trained as Business Analysts.

The Business Analyst role will continue to shift its focus from “Software” to “Business System.”
Most Business Analysts today are focused on software development and maintenance, but the skills of the Business Analyst can be utilized on a larger scale. An excellent Business Analyst can study a business area and make recommendations about procedural changes, personnel changes, and policy changes in addition to recommending software. The Business Analyst can help improve the business system not just the business software.

The Business Analyst role will continue to evolve as business dictates.
Future productivity increases will be achieved through re-usability of requirements. Requirements Management will become another key skill in the expanding role of the Business Analyst as organizations mature in their understanding of this critical expertise. The Business Analyst is often described as an “Agent of Change.” Having a detailed understanding of the organization’s key initiatives, a Business Analyst can lead the way to influence people to adapt to major changes that benefit the organization and its business goals. The role of a Business Analyst is an exciting and secure career choice as U.S. companies continue to drive the global economy.

Training for the Business Analyst

The skill set needed for a successful Business Analyst is diverse and can range from communication skills to data modeling. A Business Analyst’s educational and professional background may vary as well–some possess an IT background while others come from the business stakeholder area.

With backgrounds as diverse and broad as these it is difficult for a Business Analyst to possess all the skills necessary to perform successful business analysis. Companies are finding that individuals with a strong business analysis background are difficult to locate in the marketplace and are choosing to train their employees to become Business Analysts in consistent structured approaches. First, organizations seeking formal business analysis training should examine vendors who are considered “experts” on the field with a strong focus on business analysis approaches and methodologies. Second, you will want to examine the quality of the training vendor’s materials. This may be done by researching who wrote a vendor’s materials and how often they are updated to stay abreast of industry best practices. Third, matching the real-world experience of instructors to the needs and experience level of your organization is critical to successful training. Business analysis is an emerging profession and it is critical that the instructors that you choose have been practicing Business Analysts.

Why Is Alternative Medicine A Rewarding Career Option

With the ever-increasing cost and undesirable side effects of the conventional Western method of medicine, we have witnessed a constantly increasing interest in alternative medicine system. While there is an alternative medicine school in almost every part of the world now, aspiring alternative medicine practitioners are still doubtful about this as a prospective career option. However, contrary to the standard notion, alternative medicine actually has much scope now as an effective career. The speed at which each new alternative medicine school is opening now is itself an indication of the future scope of this career.

The career you take up will depend on the level of education you obtained from your alternative medicine school. If you are business minded, you may get into selling herbal remedies, dietary supplements, and various other holistic products. If you belong to an agricultural background, you may get involved in cultivation of herbs. You will definitely have a never failing career as a massage therapist, as so many spas and gyms that are sprouting everywhere need the same. Even standard acupuncture clinics and Ayurveda centers are more interested in people who are licensed practitioners from some alternative medicine school rather than those with knowledge only and no degree.

If you take up alternative medicine as a career option, not only will your career be very financially rewarding, but your cost of education from an alternative medicine school will be very minimal as well. An alternative medicine schools gives you the provision of distance learning, whereby you can obtain your degree online, studying and researching in your own surroundings. This is particularly beneficial for students who want to study from a different country. You will not have to attend regular classes at an alternative medicine school, you can obtain your degree online wherever you are, and your graduation will be very speedy as well.

One country where alternative medicine has become a very flourishing and promising career option is India. India is the land where many traditional alternative medicine therapies like Ayurveda, Unani, and Yoga originated. Even today, most rural areas in India have alternative medicine in the form of traditional knowledge as the only form of treatment in their areas. In a developing country like India, where so many alternative medicine therapies have been practiced for years, this career is of enormous scope for it is not only very cost effective but also has no harmful side effects.

There are abundant alternative medicine schools in India offering degrees and diplomas in many alternative medicine courses. Students qualified from alternative medicine schools in India are getting employment in treatment centers, hospitals, training centers, resorts, spas and so on. And with the introduction of distance learning, many foreign students who acquire degrees online from the alternative medicine schools in India, are also being able to get various job opportunities in their respective countries.

Analogy of a Flock of Birds to Innovation and Intellectual House Challenges

Have you actually sat in amazement viewing a neighborhood flock of birds as they make swift and abrupt directional adjustments and the flock follows? When viewing regional bird flocks you can see best away that they are considerably various than migrating bird flocks, as the migrating birds fly in a straight line. With prolonged-distance migrations it’s obvious they do this for the aerodynamic advantage.

By the way, this article is sponsored by oven fresh bites bird food. A gourmet bird food that is oven baked to perfection. I’d like you to sit back and feel about it for a second as I examine this to the improvements and changes in any given market, as the business leaders jockey to placement with new innovations, investigation and progress, and other organizations comply with them. Sometimes, the market has a very beneficial strategy the place it is heading in the long term, but it does not know specifically how to get there – or the exact intended vacation spot – only that it will finally get there.re.

They are certainly innovators in the market of personalized tech, individual computer systems, and who is aware of what else in the long term? Every time they innovate the flock follows. Other providers hang way back again, they take it painless devoid of hoping to battle for pole position, or keep up with them. In essence the following businesses, the imitators, and the copiers of their improvements, patents, and intellectual property expend a great deal less power, whilst you could loosely say they are still part of the flock (industry).

One particular could ask which method is improved? Flying in the wake of the leader, and therefore in their slipstream like Lance Armstrong in the Tour de France, or hanging way back again in the “Peloton” and flying much less distance each and every time the flock turns a distinct route, it even now acquiring to the indie destination with the relaxation of the birds.

In a flock of birds, the main birds probably get to mate with the other birds of their alternative, and they continue being at the top rated of the pecking buy. Simply because of all that fancy flying and very hard operate they are probably also stronger birds, much more physically fit, and that also is a benefit.

There will generally be leaders in any sector or area, and there will often be leeches attaching themselves along for the experience. Some would say that the best system is to be the lead bird, or take benefit as frequently as achievable working with the “to start with to market place theory,” and yet, I would suggest to you in this day and age of rapid prototyping, ferocious private tech branding and promoting rollouts, that being initial to marketplace might possibly not be prudent or even protected. Okay, but we note that numerous of the initial movers of new technological know-how do get pleasure from somewhat of an benefit – but not generally.

For each and every Apple, Google, or Microsoft there are tens of thousands of firms, startups, venture capital funded innovative firms that are no longer with us. They also were initial in their industry, they invested tons of income branding and marketing and advertising, setting up distribution channels, only to have the older birds, copy their solutions, innovations, and imitating their prototypes – therefore, capturing most of the marketplace share in the finish.

Following all, they too landed at the destination, though less tired, with much less dollars expended, and they had loads of vitality to partake in the income, worms, or foods obtainable at the vacation spot in the market.

Recently, we have been viewing tons of lawsuits concerning Apple and other competing, imitating corporations. A number of of these firms have been abroad and they have possibly ripped off proprietary info, stolen patents, or outright copied Apple’s products and solutions.

In China most of the shoppers imagine that it is insane to spend the full cost for American products, when you can acquire an specific replica or imitation for a 10th of the value. In fact you would be deemed unwise, stupid, and not prudent if you made the decision to do the proper point and acquire the unique somewhat than the fake duplicate.

This signifies if you are functioning in a corporation and you get a authentic Microsoft system, or Apple products you would be thought to be stupid, and possibly not a incredibly wonderful manager with dollars and as a result you wouldn’t get promoted in your firm – other employees would truly laugh at you for your unwise conclusion to do the suitable issue. There is an inherent dilemma in the tradition variations between Americans and Chinese in that regard.

When we get into the debates of pharmaceuticals we see the very same matter. In the United States it costs a huge quantity of funds to obtain a number of types of medicines, but in areas like Africa they acquire knock-offs from other destinations exactly where they have damaged the patents made the identical chemical compound and use those as a substitute, in simple fact in Africa they need the drug treatments for absolutely free. This will mean that the corporation that spent the investigation and improvement, invested in the patents, and went by means of the onerous method by the FDA, and in the meantime invested hundreds of thousands and thousands of bucks in some circumstances loses out.

Thus, a single could good reason that imitating is a completely all-natural point to take place. And even if we have laws of patents and intellectual home in the United States, those organizations, small business owners, and other cultures don’t have an understanding of what we are talking about.

Of program, as soon as we start off borrowing their technologies it is awesome how easily they rediscover why patents and intellectual property rights are very important. In a lot of situations if you can innovate, and continually stay on the leading edge of technologies and hold transferring quickly you can lead the flock and become the winning bird. If we want more powerful birds (Eagles) we are heading to have to rewards flourishing innovation, not to the stage that they get lazy, but to the level that they can advantage from the homework and development, with out attracting a large flock of followers. If we fail to do this we will come across less corporations innovating and we will sluggish down the technological know-how progression. If you are from engineering you might possibly favor that principle, but if you are for the advancement of mankind you can see why this is so essential.

I would submit to you that upcoming time you watch a flock of birds flying locally as they twist and turn, you may possibly consider about the dynamics of innovation in the marketplace, all the challenges that we encounter in our world, and what we will need to do to make sure that the sport stays honest for all worried. We have got to reward the leaders of the Flock if we are going to proceed racing close to the innovation clock. This article is sponsored by oven fresh bites bird food. This gourmet bird food is designed to be a favorite of your avian pet. Oven Fresh Bites bird food is the only gourmet bird food that is nutritious, all natural and a oven baked.

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Careers After 50 – Valuable Tips to Manage Your Career Now!

Four valuable tips to manage your career now to make you more
valuable to your current employer, prepare you for another job or build
you career foundation for a planned career change.

Careers after
50: it’s never too late to maximize your career opportunities. With
cutbacks all around us, outsourcing and tight budgets, even layoffs,
it’s vital you get the most out of your job and maximize your career
while you’re still employed.

Take a close look at your current
benefits. Are you maxing out your 401k? If not, get it done. How about
the medical plan? If you have elective surgery planned, now is the time
to get the knee fixed. Have a dental plan? Get to the dentist. Have
tuition reimbursement? Build up your career related skills. Is there a
valuable seminar or workshop you should be attending? Get it on your
schedule.

Beyond the company benefits the real advantages to your
career are not found in the employer benefit programs. By building on
your training and experience you can better manage your career by
acquire new training and skills that will add to your abilities in your
current career and could qualify you to additional career opportunities.

Here
are four tips to improve your current value to your company and boost
your worth for an internal promotion or add to your attractiveness by
managing your career and if you are in the market for a different
position or a career change after 50.

Build Your Achievement File: Go
back over your time with your current employer and list all your
responsibilities and achievements. Quantify every accomplishment. List
any promotions and how your achievements led to the move up the ladder.

List
the time, content and what you learned in all training completed. It
can be an in house training on a new system or software program up to a
credit course at a local college to distance learning on the internet.

Here’s
where many career builders drop the ball. Keep a record of all
thank-you comments both internal and external, handwritten complimentary
notes from the CEO or your boss on a project or exceptional action that
you did, positive notes from employees and other department heads all
should be in your “atta-boy” file.

This means you can look back
over your career development and management and if necessary draft a
current resume without missing something important.

Look For Chances to Grow and Shine: Look
for ways to do things better. Initiate actions to solve a problem,
reduce costs, improve customer service or increase sales. Volunteer to
work on projects, improve your team work building skills to be the go to
person when your boss needs something done.

Build your career
skills in areas you may be weak, like public speaking. Maybe a
toastmaster’s membership will help. Don’t miss an opportunity to
represent your employer to outside groups and customers.

Add to Your Education: Career
education is not restricted to formal education or something that only
directly relates to your career. It could range from in-house training
on functions outside of your career, systems and software, seminars and
workshops, self-study and a career planning reading program.

In
building your career; as you learn new skills and more about other
functions of your employer you spotlight you teamwork skills and
highlight your professional career development. All are valuable in
maximizing your position within the company.

Network Building is an Under-Used Career Benefit:
Building and managing your career skills that many do not take
advantage of is working with your network of contacts. Working with
coworkers in your career field, mentoring as appropriate, coaching, and
learning are but a few of the advantages to you as you make use of your
network contacts.

Your network should include friends and previous
coworkers, college contacts and customers of your employer. Making and
fostering new contacts should be an integral part of your career
building program.

Also, don’t overlook networking opportunities to
work with individuals in other departments on company charities and
other company related activities. It will just be added chances to
assist others and build your network.

These four tips on building
your current career will not only improve your position with your
current employer but will develop other skills that could be valuable if
you elect to change careers or need to move to another employer. Taking
advantage of the opportunities all around you is just good for your
personal development and good for managing your career.

Berlin Jobs Italian

Language requisites

Having command over written and spoken English is not that is sufficient to be on a surer ground when it comes to employment in Berlin or in Germany as a whole, you need to be a multilingual to ensure bigger prospects of getting a decent job. If you know a couple of other languages in addition to English and German that would be a plus point for you.

There are Italian speaking jobs available in Berlin but again you need to have command over English and German as well. Without fluency in German language, chances are remote that you will get a decent job. Most jobs will require language requisites coupled with German language as a pre-requisite.

Employment prospects for Italian speaking professionals

Customer service sector in Berlin offers many employment opportunities for foreigners including Italian speaking professionals. Job seekers can apply as customer service agents, customer service advisors etc. The candidates seeking jobs in customer sector are required to have complete know how of German language together with strong command on Italian language.

The marketing sector in Berlin recruits Italian speakers, but for that English, German and Italian language fluency is strongly recommended. You have to have strong communication skills for that as this sector has a lot of competition, candidates are required to have competitive skills of customer care, achieving customer satisfaction by maintaining high standards while dealing with customers, risk management and technical support. Furthermore unless and until you are a multilingual you can not secure a job there.

Berlin job market also recruits foreign call center agents; this requires those candidates who have strong command over Italian and English language. It requires skills of competitive customer care service, complaint handling, and processing product/service information through various means of communication e.g telephone, fax or e-mail.

Italian candidates can apply as IT supporters as well in which the employees are expected to handle technical queries of clients online or via telephone. The employees are required to diagnose and solve various technical hardware and software issues of clients effectively.

Tax structure

Tax structure in Germany is progressive in nature; higher income groups are liable to pay higher taxes. Tax rate is from 0-45%, Individuals who are permanent residents of Germany are liable to pay tax from income earned within Germany and from overseas as well. A person who is employed in Germany but is a foreign resident is liable to pay tax on income earned in Germany only.

Cost of living

Cost of living is relatively less costly in Berlin as compared to the rest of Germany. Average Rental cost in Berlin varies around 350-450; you can easily get a one bedroom apartment in around 450. According to the statistics, Berlin is 36% cheaper than London and 35% cheaper than New York, US. Household necessities are relatively cheap in Berlin when we make a comparison of Berlin with the rest of Europe.

5 Signs It is Time to Close up Shop on Your Small Business

It
can be a difficult decision to close a small business, but in some
circumstances, it is a decision that has to be made. The following are
five signs that it may be time to close your small business.

1. You are losing money, and the amount you are losing is steadily increasing.

It
is not uncommon for businesses to have slow periods or to occasionally
take a loss, but if the amount that you are losing is increasing it may
be time to look over your business strategy and determine if it is
possible to lower your losses. If you cannot find a way to lower or stop
your losses, your business will eventually become valueless.

2. Your sales have been continually slowing.

There
are several ways a business can manage its debts and maintain
operations when it is not making many sales, but if you are seeing your
sales steadily decrease, that can be a sign that your business is
slowing down. You will need to determine if your slowdown is temporary
or the beginning of the end for your business.

3. You have an increasing debt-to-asset ratio.

A
high debt-to-asset ratio does not necessarily signify the end of a
business, and some industries tend to have high debt-to-asset ratios. If
your debt-to asset ratio is high for your industry, it can signify a
problem. A high debt-to-asset ratio can affect the amount of flexibility
your business has and lower your ability to gain credit, which can lead
to the end of a business.

4. You cannot get a line of credit for your business.

Banks
will often extend a line of credit to a small business owner, but if
they feel there are problems with the business, they may stop the line
of credit. Businesses generally need money to maintain equipment, to pay
employees, and to purchase inventory. Even if you are able to pay your
expenses without credit, you may not be capable of improving your
business or covering emergency situations if they arise.

5. You no longer enjoy what you are doing.

There
is not a way to place a monetary value on happiness, but the way you
feel about what you are doing can affect how you perform mentally and
physically. When the thought of doing things for your business depresses
you, it may be time to walk away.

Legislators Looking to Revise Payday Loan Regulations

Many states, including Texas, have introduced interest rate cap bills for both payday loans and auto title companies. Many customers, including several legislators from Texas, feel these companies have sidestepped interest rate caps which have added to the spiraling debt many of their customers already have.

Unique Pay Structure

In total, there are six states, including Texas, that don’t regulate interest rate. Sen. Wendy Davis of Texas understands that both of these industries will fight this legislation and have data that prove high interest rates or not, customers will payback their loans regardless of the interest. However, Davis wants to introduce a unique pay rate that will regulate the interest structure, but not hamper the industry.

Storefronts

Many of the payday loan companies set up store fronts in low income areas and use brokers to run applications, credit checks and collections. These store fronts instill fees, rather than provide an interest rate, which is how they sidestep the high interest rate structure label. If customers are unable to pay their loan back on time they are allowed to roll their loan over with a fee. Ultimately, what this does is push customers into a high interest rate bracket at the end of the year which is how many customers are unable to payback their loans. If the proposed bill passes, many fear these companies will have to close which will leave many without an option to obtain money in an emergency. It’s a catch-22 because the same companies that are keeping their customers in debt are the same companies, if forced to close, will also push their former customers further into debt. If the bill passes or not, America should worry about the bigger problem: Are payday loan companies, like payday loans in the UK, legal? Are they preying on innocent victims who are never in a position to payback what they borrow in the first place?

Mark lives with his wife in the UK. He is no stranger to tough times. If you need a little help, Mark suggests you check out payday loans UK. Though only a temporary fix, payday loans can help you when you need it the most.