Should You Consider Associates Financial Services?

Nearly everyone will need to utilize some form of financial services over the course of their lifetime. For some these services may include nothing more than a savings account or checking account. Others may need to acquire financing to purchase something such as an automobile, house or condo. There are many options available when looking for these kinds of financial services. Nearly any bank will offer loans, and they all offer checking and savings accounts. Associates financial services are another option which is available for many people.

Associates financial services work in a way as a credit union. Typically they are provided to employees of a specific company and they are specifically provided by the company. A large number of larger companies offer financial services for their employees and in some cases they may also offer these services to people who used to be employed by the company. These services nearly always have checking and savings accounts available and it is not uncommon for savings accounts provided by these financial service companies to offer a slightly higher than average interest rate. It is also not uncommon for these financial services to allow for money stored in the savings account to be invested in company stock potentially earning a much higher return.

Another feature that most of these services offer is loans, including home and automobile loans. One major advantage to this method of acquiring a loan is that they traditionally offer a lower interest rate. Another nice feature to this type of service is they usually offer an option to have a specified amount of money drawn from each paycheck in order to cover the monthly cost of the loan. Taking this route often offers a further reduction in the interest rate and for many people it is a nice way of paying their monthly bills.

Many people find that when they never see the money on their check they easily learn to live without it and it helps to ensure that their loans are always paid in full and on time. Many of these services also offer the option when using the paycheck payment method to actually deduct a specified amount towards the principle of the loan in order to pay off the loan in a significantly shorter period of time. This not only shortens the lifespan of the loan but it also offers the benefit of reducing the total amount paid for the purchase by reducing the amount of interest paid on the purchase.

Nearly anyone who works for a company which offers associates financial services should seriously look into the options available through their financial service plan. In many situations this type of financial service has the benefit of offering a better interest rate on money stored with their company’s financial services along with lower interest rates on things such as auto loans and home loans. In most cases the assistance programs offered by these services are significantly better than the one’s offered by banks and other lenders as well.

Discover Financial Services – The Best You Can Get!

Just like Master Card and Visa, Discover Financial Services are renowned for their Discover credit cards. These are accepted all across the globe and help you through smooth banking in all the continents on earth.

But is that all? Some might think that this is the only service they provide for. But Discover Financial Services is spread across far beyond limits.

Catering to over 50 million card holders, the company offers various other financial services such as electronic payment options, debit card services, ATM access, etc. To live up to every clients’ individualized needs, they have also designed special products and offers for small businesses, major companies and the salaried class.

Operating since 1986, Discover Financial Services were first introduced at Super Bowl. Discover card was primarily designed as a low cost, recognized credit card accepted globally. The idea of developing a Discover Card came from the factors like no demand for fee and requirement of lower interest cards.

Discover Financial Services were among the first major credit card companies that offered a rebate or cash back option with the card.

The key offers of the company are:

1. Discover Financial Services puts through different Discover cards, such as debit cards, prepaid cards and ATM cards. Discover Financial Services can develop many different personalized store gift cards. This makes it an ideal choice for the merchants, small businesses and retail outlets.

2. Discover offers various lines of cards teamed with exclusive features, incentives and rewards for the users. Depending upon your spending needs and capacity, the customers have a choice to opt from varied types of cards. Such flexibility allows rewards for the amounts spent. The other features enlist refunds on car & gas expenses, rebates for efficient financial management. Needless, to mention after all the above that Discover Financial Services have special cards designed for the small business owners.

3. Discover Financial Services facilitate online & electronic bill payment services. They also guide you towards better account management and assist you in the same.

4. Working in tandem with the merchants & retailers, Discover Financial Services’ Payments Division helps you increase customers and enhance the sales, as they offer loads of payment options. All these options are quite secure. Well networked and pave way to smoother transactions.

5. Discover Financial Services help you avoid the frauds. With the merchants who honor the Discover Card or those who are Discover partners, the company helps with recurring billing & cash back options. Discover Financial Services has indeed emerged as one among the largest credit & debit bill payment management units in the US.

6. Discover Financial Services secures and manages several self owned PULSE ATM systems. These are useful for the banks, businesses and the consumers as well. This system supports all credit cards as well as debit cards. The PULSE ATM terminals allow easy withdrawal of money for the personal individuals, corporate accounts and business across the globe. These terminals can be found at most of the major airports, nationally as well as internationally.

NCO Financial Services

One of the financial services that is available to businesses and corporations is the business process outsourcing (BPO) service. This service offers businesses and corporations with a system wherein they can maintain contact with their clients with regard to various matters such as credit collection, technical support, and other means. Companies that provide this service usually put up a contact center where agents are hired to maintain the client-vendor relationship between the companies that use this service and those that buy from them.

An example of such a company is the NCO Financial Services Company, which offers a wide variety of services to its clients. It is the aim of this almost eighty-year-old company to reduce client operating expenses, increase cash flow, and improve the efficiency of their client companies. NCO Financial Services has a wide network of contact centers in various countries wherein they operate. The major services that they offer fall under three major categories: Finance and Accounting, Customer Relationship Management, and Back Office.

The Finance and Accounting units deal mainly in resolving deficient customer relationships, which include the collection of past due obligations. Under this category are specific services, on of which is the Accounts Receivable Management Unit. This unit will be able to help your business collect past due obligations and correct delinquencies in payments of your clients. Other services under the Finance and Accounting unit are the Portfolio Management and Collection Units.

NCO Financial Services also ensures that the customer relationship is maintained through its Customer Relationship Management Unit, which ensures that your clients will have access to technical support and the right information with regard to their transactions through both inbound and outbound calling campaigns. This service can also provide a platform for your company to increase your sales, as outbound calling campaigns increases the awareness of your products.

The Back Office Unit will be able to help your company in your order-processing needs when it comes to the sales generated through the outbound calls. In addition to this, NCO Financial Services will also help you in the delivery of payments to your companies and even in litigation if problems are encountered with regard to the payments.

Businesses have a number of needs to fulfill with regard to maintaining customer relationships; it is then very comforting to know that there are systems and organizations that are available such as the NCO Financial Services. NFO Financial Services can help businesses with these needs by providing effective business outsourcing services.

Global Trends For the Financial Service Industry

As the economic crisis continues to unfold, the financial service industry faces serious challenges. The crisis is rooted in continuous imbalances, including long periods of low interest rates, rapidly rising asset prices, and massive credit and savings imbalances. The 2007 and 2008 Reports from the World Economic Forum predicted these changes as continuous risk to the market.

Earlier decades of exceptional growth and capitalism at its best have now caused the market to adapt to tighter credit, growing government intervention, slowing pace of globalization, and no economic growth. With increasing regulations in the United States and decreasing availability of credit, the industry faces a significant risk of stunted growth. The global recession is also affecting the financial sector because of capital markets and decreased aggregate demand, according to Max von Bismarck, Director and Head of Investor Industries.

This article will provide leaders, employees and investors in the financial service industry with five unique and timely trends to keep in the forefront of their growth strategies for the next five years. These five key trends will shape the post financial crisis in a holistic and systematic manner.

FIVE KEY TRENDS

GLOBAL BANKING. According to the World Bank, although many banks such as American Express, Citibank and JPMorgan Chase conduct business in multiple countries, they are relatively regional in the United States. In order to grow, the financial industry will have to infiltrate emerging markets. For companies that have a more aggressive growth strategy, the spread to emerging markets such as Africa and Asia presents unparalleled opportunities for profit and increased market share.

IT PLATFORM SHARING. Network World confirms that financial service firms’ business strategies must be altered for the new dynamics and intricacies of today’s market. Immediate access to information and integration along product lines and geography are a must for future success. With the need to supply information to a global market, firms must decrease cost. One cost effective initiative is the use of platform sharing; like cell phone companies that collaborate with local companies in order to decrease cost and increase access, financial firms can do the same.

E-BANKING. A special report from The Economist sees that with 3.5 billion people with cell phones and an expected 10-20% year over year growth, personal and business banking transactions are conducted through cell phones more and more. Thus, E-banking capability is quickly becoming an increasing requirement in order to compete in the marketplace. E-banking capabilities provide companies with essential flexibility and differentiation in the market through Internet-based service applications.

MOBILE MONEY. The increase of mobile phone usage in emerging markets makes mobile money a safe, low cost initiative for the financial sector. It is an easier way to transfer money to family and friends, money is sent, and payments and withdrawals can be made without ever going to a physical bank or payment center. M-Pesa, an early developer of mobile money, concluded that mobile money “has enormous social and economic benefits.”

SELF-SERVICE. Self-service and the customer should be a primary focus for firms in this new financial service world, according to IBM. AppViewXS is a self-service portal firms can purchase, so customers can check the status of their account and gain instant access to available services. Customer questions and concerns are addressed more quickly, states an IBM representative. This technology automates many processes; the result is that staff workload is reduced while representatives operate faster and more efficiently.

Financial service firms need to have sustainable, steady expansion in the emerging markets in order to grow in the future. Deloitte and Touche Research reports that financial service firms have not positioned themselves to capitalize on more geographically dispersed opportunities. More than 93 percent of the executives interviewed for this report acknowledged that their firms “are not operating in a globally integrated fashion.”

The same report states that financial firms need to invest away from veteran or mature markets and toward emerging markets because “by 2025, veteran markets will be rivaled by other markets with faster growing economies and increasingly sophisticated financial product appetites.” USA based firms can look toward Japanese and African markets for expansion opportunities. Kennedy Consulting analysts believe that the market will rebound from the global financial crisis in 2011, but there will not be any return to the robust levels prior to 2007 until much later in the decade; hopefully, the five key trends in this report will help the leaders, employees and investors in the financial service industry to look toward a robust sound future.

In addition to growth strategies, in the 2002 Journal of Business and Industrial Marketing, Henson and Wilson discuss the extreme changes that have occurred in the financial service industry and how many firms are trying to develop and execute successful strategies based on innovative technology and customers. Aside from the regular ups and downs of the financial world, technology and innovation will always prevail as the win-win for the financial service industry. Because online banking has become the norm for most customers, technology will be very important in these firms’ strategies.

With the customer at the center of most trends in financial service firms, creating new values for their current and potential clients beyond current expectations will be a top priority. The need for convenience mixed with technology makes mobile money a great initiative in the emerging as well as the developed markets. Many firms have speed pay, the ability to pay without swiping the card, as part of their credit card services. An embedded chip in the credit card enables payments to be made by putting the card close to the payment processor. Mobile money will be an expansion of payment and money transfers without the need for a card, the need to go to a physical bank, or to use Internet banking. Payments, transfers, deposits and withdrawals can be made with a cell phone.

The World Bank concurs that innovative technology and an increase in e-business strategies will lead to much lower costs and greater competition in financial services. Internet and related technologies, the World Bank affirms, are more than just new delivery channels; they are an inexpensive, different, and very effective way to provide the same services. Since financial service firms must grow organically, build customer loyalty, and accommodate the customers’ expanding needs for services and convenience, partnerships with new technology businesses will allow them to lower their expenses and be competitive.

Established firms such as Amex, Citibank, and others can partner with groups such as the wired tech savvy Google Alumni who are not averse to risk and who own fledgling technology businesses that are reshaping the industry with a new wave of innovative products, write Spencer Ante and Kimberly Weisul of Business Week. Mobile Money Ventures is one such fledgling company that is a provider on the forefront of alternative financial service products. Small companies such as these are able to provide well-known financial firms the wherewithal to open in emerging markets where there is a need for cooperation with other firms in order to attain then obtain the local customer base.

Today’s competition is fueled not just by profitable customers, but also by the firms that are the most efficient and cost effective. Procedural and cultural clash will result from expanding into unknown markets as seen by the history of Citibank in Asia Minor. But in the long run, tighter regulations, new technology and improved business processes will cause expanding in emerging markets not only to change the demographics of the clients (both geographically and core clients), but also to better the global economy and the future of the financial services industry. Keeping the previous trends at the forefront of managers’ strategic plans, financial firms will rebound bigger and better than ever.

Financial Services Help Manage Money

Financial Services #1 Wealth Management

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

Financial Services #2 Investment Banking

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

Financial Services #3 Asset Management

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

Financial Services #4 Business Banking Services

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

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