Why Bitcoin? Part 4: Banks Versus The World

So far we’ve taken a look at the history of money; the notion of Bitcoin as ‘digital gold’; and some of the macro-economic forces that shape the global …

In this series on Bitcoin and money, Crypto Briefing takes a deep dive into the complexities of the modern monetary system and how Bitcoin, as the ultimate hard money, can serve as a solution to many of its problems.

In Part Four of the series we examine the banking system: how banks make money, and how Bitcoin and other cryptocurrencies empower ordinary citizens.

The full nine-part series will be available here.


Bitcoin and Money – Recap

SIMETRI ResearchSIMETRI Research

So far we’ve taken a look at the history of money; the notion of Bitcoin as ‘digital gold’; and some of the macro-economic forces that shape the global economy.

In our last exploration, we posited that the current global monetary system is rife with problems that have enormous consequences, which we see coming to fruition in today’s global economy.

It should be no surprise then, that today’s conglomeration of banks and financial institutions has taken full advantage of these flaws to enrich themselves and their closest allies and friends, at the expense of the rest of the world’s population.

This begs the question: How might a sound monetary foundation instead be used for the benefit of many?


Fees And Inescapable Debt

Many people wonder, how exactly do banks make so much money? The answer is more complicated than first imagined. There was a time that the bulk of a bank’s revenues would have been gathered via fees and loan interest. Over recent decades, however, we have seen banks expanding their reach, extending a broader umbrella over much more economic activity.

While fees and loans do make up a pretty hefty sum of a commercial bank’s revenues, it’s really just scratching the surface of the money that banks can access and thus control.

The key concept that carries through all of the tools that a bank uses to make itself wealthy is that money gets continuously concentrated into greater density, funneling into an ever-tinier proportion of the population.

Fees are certainly one of the major ways banks do generate substantial revenues, often at the greatest expense of those with the least money. One can observe, just by examining fee structures alone, that an inversely proportional relationship exists between banks’ revenues from clients and the economic status of those clients.

To sum up the relationship; the lower the income of the bank client, the higher the proportional cost of accessing bank services tends to be.

The lowest income-earners might even forego using a bank account entirely due to the basic monthly fees that can be unaffordable to those on the socio-economic fringe. Many major banks charge monthly fees to clients who don’t keep a balance of at least $1,500, for example.

Such a potential client might resort to instead using cash or perhaps buying prepaid debit cards with high fees. Any borrowing activity would be of the payday loan nature, where users are often charged predatory interest rates. Such loans, of course, are not of the forward-thinking investment variety, but are instead usually borrowed to cover emergency expenses or basic living costs.

While payday and other unsecured loans have traditionally been under the purview of businesses outside the banking system, the market for these sorts of loans is changing. Not wishing to leave such profitable potential returns languishing on the sidelines, more banks are beginning to offer such lending options to their most financially-vulnerable clientele.

Payday LoansPayday Loans
source: wusfnews.wusf.usf.edu

Moving up a step from the lowest rung of the economic ladder, a bank account holder with limited to moderate means may get access to basic credit cards.

Charging upwards of 15% on any borrowed funds, payment schemes on credit cards are often designed to encourage low-income borrowers to make minimum payments that will squeeze out the maximum amount of interest charges over the longest period of time.

Penalty interest rates charged to these clients for late payments often approach the maximum legal amount of 29.99%. These same clients are often encouraged to increase their credit limit and are enticed with “You’re richer than you think” ads that conflate access to credit and its subsequent debt with actual wealth.

You're richer than you thinkYou're richer than you think
source: blogspot.com

Add to this the cost for overdrafts, penalties for moving accounts or mortgages, commissions on investments, and application fees for any of a wide variety of services, and it’s easy to see how banks can maximize their profits by leveraging the needs of the most vulnerable and, sadly, the most financially inept.

Without meaningful regulation, banks have proven time and time again to be willing to lend well beyond the means of borrowers. These businesses have often been shown to lure clients into unmanageable debts, especially for cars and homes, that they have no business having in the first place.

It rings consistent with the adage of “buy now, pay later” that is so predominant in modern culture. This has resulted in an economy that accepts extreme levels of national and personal debt, teetering on the edge of collapse as it attempts to endure through decades with little hope of escape.

Sadly, however, this is just the tip of the iceberg when it comes to how banks really pull in massive revenues.


Betting Against Clients And Workers

To be fair, banks are businesses; not charities. And they should indeed make money for their shareholders. One could make a fair argument for the justification of fees and the imposition of higher interest rates on higher-risk borrowers. Yet, no such argument can be made to support the reckless “investments” banks have been known to dabble in since being given the freedom to do so.

When Goldman Sachs hedged against an imminent housing collapse in 2007, it did so at the expense of its own clientele. Essentially, the firm pawned off bad debt to trusting investors who then were left with the losses.

Goldman went so far as to “sell short”, or bet against these bad debts after shilling them to clients, and then made off with huge profits when their bets paid off. Deutsche Bank and Morgan Stanley, among others, also participated in this nefarious activity, costing American investors billions.

Sylvain R. Raynes, an expert in structured finance, assessed the clear conflict of interest in this all-too-common scenario: “When you buy protection against an event that you have a hand in causing, you are buying fire insurance on someone else’s house and then committing arson.

Banks and other financial institutions were in on the action, working together to their own benefit, at the expense of the larger population. Unfortunately, when left to their own devices in their constant quest for further deregulation, such entities often do not compete for the betterment of the market at large.

Adam Smith, the father of modern economics and writer of “The Wealth of Nations”, warned of this problem when he explained that businesses will collude, not compete, if left unfettered, “People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.

Goodbye, Toys R Us
source: www.engadget.com

Similar predatory behavior is exhibited by private equity firms, which remain free to feast upon the assets of what have been long-standing retail companies, at the expense of their workers.

These financial predators take advantage of near-zero interest rates to borrow funds and purchase companies, not as an investment, but merely to consume them. After hollowing out the subsequently bankrupted companies by selling off their assets and seizing their pension funds, these parasitic institutions have brought an end to many a household name from Sears to KMart to Toys R Us, leaving workers bereft of jobs and deprived of what would have otherwise been secure retirements.


Banks And Criminal Behavior

Again, while banks should indeed be free to profit from legitimate activities, such freedom does not excuse banks from acts of fraud, collusion, and money laundering. Without going into a comprehensive list, here’s just a few recent samples of occasions where banks were caught in criminal behaviour:

  • Wells Fargo was fined for multiple account abuses, stealing funds from their own clients in a series of scams ranging from insurance and mortgage fraud to creating fake accounts and then charging customers fees for the created accounts.
  • HSBC was caught money laundering for Mexican and Colombian drug cartels, essentially acting as a willing accomplice in large-scale crime, drug addiction, and murder. Netflix has a documentary about it.
  • JPMorgan Chase has been fined for corruption and fraudulent behavior numerous times, most infamously for their involvement in Bernie Madoff’s Ponzi scheme. They even managed to pay some of their fines with money that was raised fraudulently.
  • The Bank of America has been bailed out by taxpayers after committing fraud against investors, homeowners, and other clients.
  • Citigroup, Goldman Sachs and other banks are also in on the criminal action.

And these are just examples of the times these criminals have been caught!

Banks have paid billions and billions of dollars in fines… yet the cost of committing these crimes is massively outweighed by the profit in continuing to accept fines as a cost of doing business.


Beating The Drums Of War

Since the innovation of fiat as a monetary system, easy money has gained the capacity to be weaponized, particularly when hostile economies choose alternative currencies that do not fall under the sovereignty of certain military powers.

Libya, Venezuela, and Iran again serve as reminders of this system, whereby the United States uses the dollar as a weapon, via sanctions. Excluding countries from the global monetary system commences a stranglehold that often leads to violent resolution. Thus, weapons, vehicles, and military forces can be produced and deployed, funded by infinitely printed fiat currency.

Weaponizing The DollarWeaponizing The Dollar
source: www.globalresearch.ca

Global authority and acceptance of the dollar is thereby enforced, first through sanctions, but eventually in many cases, through war.

Because the fiat currencies of the world have no genuine market value, sanctions and violence are the necessary means of coercion for maintaining a market “value” for such currencies. Thus, central banks and their allies continuously push for war in an effort to maintain the status quo.

This is performed in an effort to stave off economic slowdown and, importantly, to maintain the authority of fiat.

The enforced acceptance of easy money in the place of genuinely valuable hard money, which can instead be freely accepted by willing market participants, contributes to the corruption of monetary priorities in government policy.

This monetary perversion is most evident when one observes the astronomical government spending, nearing a trillion dollars annually when all components of military spending are counted, on America’s military industrial complex.

Military Expenditures By Country 2018Military Expenditures By Country 2018
source: wikimedia.org

Through taxation and highly effective inflationary tools like quantitative easing, American citizens are forced to fund a military that consumes more than half of all annual discretionary federal spending.

This totals an amount greater than the next ten countries spend on their military programs together.

To put this further into perspective, consider that the second highest spending priority in America’s discretionary federal budget is Health and Human Services, which includes Medicare, Medicaid, and the Affordable Care act. At a budget under $90 billion, less than 10% of what is spent on the military is spent on these programs.

Federal discretionary spending on education stands at $70 billion.

Trump Discretionary Budget Request 2019Trump Discretionary Budget Request 2019
source: nationalpriorities.org

Yet, the same spending policies continue from year to year, from term to term, and from government to government. With a constant stream of military contractors voraciously lobbying the government and convincing citizens of the ongoing need for more war, defense is no longer a priority.

Instead, perpetual war is the order of the day and, frankly, is necessary to keep the dollar on top against all competitors. Orwell had a point.


The Cantillon Effect

The undue influence of central bank fiat production and manipulation emerges most damagingly in what is referred to as the Cantillon Effect. In summation, central banks create buying power at the top amongst those who first have access to funds at no cost, with newly printed currency being filtered down through the economy as it gradually diminishes in value against assets.

This phenomenon results in inflation as the currency eventually trickles down to those at the bottom. Those who first receive the newly created money see a rise in income while those who receive it last experience a decline in purchasing power.

Because central and commercial banks, along with other financial institutions, hold a monopoly on the production and initial acquisition of previously non-existent money, they can purchase goods, services, and assets prior to the devaluation of the currency. This results in the lion’s share of the economic benefit concentrating further towards these institutions at the expense of the rest of the market.

The Cantillon Effect causes a sort of modern feudalism whereby an oligarchy of financial institutions has become the new “landowner” class, gathering up ownership of the vast majority of real-world assets, with the working citizenry taking on the role of the serfdom:

In the same manner as the landed aristocracy of times past extracted rent by virtue of monopolistic ownership of land, so today the financial oligarchy extracts interest and other financial charges by virtue of having concentrated the major bulk of national resources in their hands in the form of finance capital.” – Ismael Hossein-Zadeh and Anthony A. Gabb.

These modern-day feudal lords are able to acquire virtually interest-free money, enabling them to hoard real-world assets at the lowest possible cost. They can then profit from lending out the wealth at higher interest, returning even greater wealth back to themselves in an oppressive feedback loop that is predicated on the creation of fiat currency from thin air.


How The Monetary System Could Work For Individuals

It’s clear that the global monetary system needs a complete reboot. But such an enormous shift can’t be of the top-down nature. Clearly, it is against the interests of a tiny minority of extremely wealthy and powerful financial authorities to see such a monetary transformation take place.

This is a change that must happen organically. It can only be accomplished through the principle of decentralization.

With the creation of decentralized money, namely Bitcoin, no central authority can directly produce and enjoy the benefits of money creation and its initial distribution at the expense of all others. Competition and the freedom for anyone to participate in its production, distribution, and acquisition is baked into the protocol.

With hard money as the base layer, quantitative easing becomes impossible, allowing citizens to retain value in their money.

Decentralization of money production also negates the Cantillon Effect. With hard money as the base currency, easy money can not simply be fabricated out of thin air and doled out to those with the privilege of having first access to the funds. Decentralized, free-market money thus ends modern monetary feudalism by enabling “serfs” to become “landowners” themselves.

The benefits do not end with the abolition of quantitative easing and the Cantillon Effect. With wealth no longer being controlled strictly “at the top”, commercial banks can no longer gamble away client investments on bad debt, nor can they bet against the economy with the same degree of knowledge and influence previously available to them.

Even problems as simple as exorbitant fees can be minimized, as there would be no need for funds to be held in traditional bank accounts. Fees would be of the free-market nature, required for confirmation of transactions and to cover the costs of other financial services.

Borrowers could complete applications for loans via smart contracts, with decentralized lending made available on a broader scale. Clients could choose a lender with far greater market competition and freedom, rather than depending on a select few central authorities to approve loans.

Decentralized money also succeeds in removing the capacity for central and commercial banks to collude against clients. Without direct control of the currency, the technology significantly reduces the capacity of banks to commit acts of fraud or money-laundering. Banks can no longer so easily act as the laundry machine of cartels, with the distributed open ledger of Bitcoin being visible for all to examine and scrutinize.

The implications even reach into the corrupt lobbying of political systems and the current militarized condition of the world. No longer would a military industrial complex have the same undue influence on the government as it currently does with its access to easy money.

A political campaign funded by Bitcoin, for example, would be transparent and accountable, with donations being tracked and known. This eliminates the “you scratch my back, I scratch yours” mentality of the current political campaign lobbying relationship.

Money can no longer be weaponized as it is with the current fiat system, since a decentralized monetary system holds no sway on a nation’s ability to trade with another nation. Thus, the capacity for military aggression and war diminishes.

In a decentralized monetary system, citizens enjoy financial sovereignty. Hard money, by nature, incentivizes saving, wiser spending, and investment.

As funds for unwanted costs cannot simply be siphoned away by banks and financial institutions via the printing of easy money, citizens can choose instead to spend on societal benefits and their own free market choices, without the need for any form of coercion by central powers.


In Part Five of this series, we move into more political territory, considering the thesis that political extremism inevitably results in greater centralization: in a highly-controlled markets such as under a Communist government, that may be a nepotistic oligarchy; while under unfettered free-market capitalism, it might manifest as a corpocracy.

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Industries Economics
Blockchain Tech Economics

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The new Swiss banks of crypto

Stefan Deiss, founder and CEO of the Swiss crypto accelerator, Blockchain Propulsion, spent two months looking for a bank account for Polo Pecem, …

But, as yet, the Maltese regulator has not yet issued a single licence.

“Licenses will not be something that is automatic, they will not be given out easily, it is a very robust process,” said Ian Gauci, co-founder of Malta’s Caledo agency, which provides legal, and technical services for crypto clients to help them obtain a license, told Decrypt back in May.

Unlike Switzerland, Malta is a member of the European Union, whose members must abide by common rules governing the movement of goods and services. And there are signs that within the E.U., regulatory noose around cryptocurrencies is tightening.

January 2020 is the deadline for members to enact the European Union’s Fifth Anti-Money Laundering Directive and many countries have used the legislation to beef up their regulations and make them even tougher than the directive requires.

In Germany, for instance, digital asset exchanges and providers of crypto payment and custodian services must now apply for licenses from the financial regulator, potentially limiting services that have so far been readily available to the crypto community.

Banks are hooking up with with crypto firms

But partnering with a bank can be a way for crypto companies to cut through the red tape, and offers advantages for banks too.

Pioneering German crypto bank Bitwala partnered with European Union-regulated SolarisBank in October 2018, a move that ensures its account holders are able to use Bitwala’s services just like a regular bank account—to pay bills, exchange currencies, and send interbank payments. It also means that, just as with Germany’s traditional banks, deposits of up to €100,000 ($110,000) are protected by the German Deposit Guarantee Scheme.

“Bitwala was first to offer a fully compliant and convenient banking service as a bridge for everyone,” Christoph Iwaniez, the startup’s Chief Finance Officer told Decrypt. “We believe that more services around blockchain-based financial services will follow. This is, in our opinion, the most promising way to open the cryptosphere for mass adoption.”

In August, Bitwala launched the first mobile, bitcoin banking app on iOS and Android. The app combines a bank account, bitcoin wallet, and a trading and debit card. Its innovative features include the ability to sign off on transactions with biometric identification.

Iwaniez argues that most, if not all, traditional banks “are clearly lagging way behind in the technical development in blockchain technologies.” And it’s only through partnering with crypto firms that they can close the technology gap and gain know-how as well as access to the crypto markets and the community. Better regulation, he believes, will not be a hindrance, it will be the trigger.

Banks are now more likely to seek partnerships with licensed crypto banks, rather than trying to transform themselves into crypto banks, said Diess. Private, Swiss investment bank Julius Berne, which recently partnered with Seba, is a case in point.

“Now that you have two specialized crypto banks opening up soon, the traditional banks are probably not going to be called on to open up accounts for crypto companies,” he said, speculating that “it is too late in the game” for legacy banks to get into crypto themselves.

Still, there’s little doubt that banking will start to incorporate blockchain in banking services, according to Anne Boden, a doyen with 30 years experience in some of the world’s most important financial institutions, and founder and CEO of “challenger bank” UK-based Starling,

But she added that banking is an industry of such magnitude, which is so legacy-based, that it would be foolhardy to overhaul the entire system for a nascent technology.

The U.S. is lacking in short-term plans

Despite calls from the IMF, among others, that central banks should innovate to avoid being left behind, the American financial sector has fewer short-term plans to build out the new types of money-transfer systems like those that are being developed in Europe and beyond.

But the U.S. Federal Reserve is mindful of the threat posed by upstart banks that have gained strong momentum. In August, it announced plans to launch its own fintech real-time payments system “FedNow” within five years. The idea has been slammed by experts, including the Bitcoin-friendly former congressman and presidential candidate Ron Paul.

The U.S. has gained a reputation for strict regulations, and strict punishments for projects that fall afoul of the rules. Yet the New York Department of Financial Servicesarguably the strictest regulator in the world—has, since 2018, allowed some cryptocurrency companies to offer bank-like services.

And there’s now a new and growing class of financial instruments surging in popularity in the U.S.

DeFi services are increasingly mimicking banking

In particular, investors have been crying out for solutions that will balance security and the ability to quickly move crypto assets for trade. To meet growing demand, the lines have been blurring between fintech banking, cryptocurrency exchanges and digital wallets. And some of the largest crypto firms, such as the Coinbase exchange, have been able to offer bank-like services for enterprise-level businesses.

Coinbase Custody provides those with large crypto holdings with services including segregated cold storage, integration with the Coinbase Pro exchange, insurance for deposits, staking tools, customized reporting and third-party auditing. In August, Coinbase announced that it was beefing up the business and buying the “custody” arm of rival Xapo, in a bid to attract big investors, such as hedge fund managers and mutual fund managers.

But, essentially, it’s an investment fund. It can only play at banking until the Securities and Exchange Commission grants it leave to integrate with the banking system. Meanwhile, it falls under the remit of the New York Department of Financial Services.

DeFi is not banking. It’s unable to offer the security that banks are valued for. But in the absence of other alternatives, increased competition among these quasi-banks has led to new ways to store assets.

Similar custodian services are offered by Andreessen Horowitz-backed startup Anchorage and Fidelity Digital Assets, and, on Tuesday, the Winklevoss-owned Gemini exchange entered the fray, announcing Gemini Trust, a custodian service which will allow users to instantly trade 18 types of cryptocurrencies from offline storage.

In Germany too, custody solutions, are increasingly in the spotlight. Moves, by the German regulator, to license crypto companies offering these types of services, were discussed at its BaFin Tech 2019 conference in Berlin on Wednesday.

But DeFi is not just about custody, it also offers plenty of other ideas to reshape banking, lending, and derivatives. It will be especially valuable in emerging economies where people are already using crypto to hedge against local fiat currency fluctuations, said Iwaniez.

Crucially, those who might be turned away by traditional banks will now have another alternative; they need no longer go, cap in hand, to a traditional bank if they need financing. And integrated economies with the most liberal banking authorities will benefit most.

Mindful of this fact, U.S. officials this week pressed Swiss regulator to ensure that its regulations are robust enough to withstand abuse. But on Thursday, FINMA head Mark Branson told the Swiss paper Neue Zuercher Zeitung he was ready for the challenge:

“If a financial center has ambitions, it must be able to live with attention,” he said. It’s certainly going to get a lot of that in the coming days.

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Singapore lender still using faxes seeks virtual bank licence

The firm, founded in 1961, has been in talks with financial-technology (fintech) companies about a joint application for one of the licences. Company …

Singapore

SINGAPORE’S Hong Leong Finance views the country’s plan to issue virtual-banking licences as an opportunity to find new customers and re-invent itself as a tech-savvy lender to the nation’s new businesses.

The firm, founded in 1961, has been in talks with financial-technology (fintech) companies about a joint application for one of the licences. Company president Ang Tang Chor, 70, is looking for a partner that will help it apply technology to its lending decisions, with a view to doing more business with millennials and newly established firms.

“We have the customer base, we have the reach but we don’t have the platform.”

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The Monetary Authority of Singapore announced plans this year to grant up to five virtual bank licences to fintechs and other non-bank firms to introduce more competition into the financial industry. Applications for the retail and wholesale licences are due by year’s end.

About 70 per cent of Hong Leong’s loan book comprises advances to small and medium-sized businesses in areas such as property development and food and beverages; lending to retail customers accounts for the rest.

Mr Ang said Hong Leong requires potential borrowers to provide a history of financial information before approving new loans; this can be a problem for some individuals and smaller firms. By tying up with a tech firm for a virtual licence, Hong Leong hopes to learn how to sift new data sets, such as real-time information on company invoices, or individuals’ credit card records and social media posts.

Mr Ang said: “The fintechs have one advantage: they lend against data. That is now slowly becoming more important to financial institutions”, which have traditionally used criteria such as company balance sheets.

DBS Bank analyst Lim Rui Wen, who has a “buy” rating on Hong Leong, said Singapore’s financing landscape is dominated by traditional lenders and banks, and that virtual banks can perhaps fill the gap for smaller loans.

Hong Leong, which still uses faxes in parts of its application process, is also looking to introduce payment cards for expatriate workers and instant credit-risk assessments for car loans.

With a market capitalisation of S$1.2 billion, Hong Leong held total deposits of S$11.9 billion as of June 30.

Mr Ang declined to name the fintech firms he has been talking to. Some are reluctant to enter tie-ups because they want to submit solo applications, he said.

In any case, Hong Leong needs to adapt to appeal to younger clients. “The next generation of depositors and clients are going to be people who are tech-savvy, so we’ll have to go in that direction,” he said. BLOOMBERG

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Financial Sponsor or Syndicated Loans Market to Witness Huge Growth from 2019-2026 and …

Blockchain distributed ledger system is trending in the syndicated loans market as a platform to track activities and meet compliance requirements in a …

Financial sponsor/ syndicated loans services market includes finding lenders to finance large projects. The borrower can be a company, or government. The loan can be of fixed amount, credit line or a combination of both. Investment banking companies either charge clients fixed fees or a proportion of the loan value.

Blockchain distributed ledger system is trending in the syndicated loans market as a platform to track activities and meet compliance requirements in a better way. It helps the banks to spread out tasks like local compliance and link them to a single customer block. This system also helps to reduce the complexity and efforts required to comply with local taxation and lowers the cost of meeting regulatory requirements of syndicated lending.

Financial Sponsor or Syndicated Loans Market report provides in-depth statistics and analysis available on the market status of the Financial Sponsor or Syndicated Loans Manufacturers and is a valuable method of obtaining guidance and direction for companies and business enterprise insider considering the Financial Sponsor or Syndicated Loans market. It contains the analysis of drivers, challenges, and restraints impacting the industry.

Major Key Players of the Financial Sponsor or Syndicated Loans Market are:

Goldman Sachs , Bank Of America Merrill Lynch , Barclays , Credit Suisse , JPMorgan

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Financial Sponsor or Syndicated Loans Market report also provide a thorough understanding of the cutting-edge competitive analysis of the emerging market trends along with the drivers, restraints, challenges, and opportunities in the Financial Sponsor or Syndicated Loans Market to offer worthwhile insights and current scenario for making right decision. The report covers the prominent players in the market with detailed SWOT analysis, financial overview, and key developments of the products/services from the past three years. Moreover, the report also offers a 360º outlook of the market through the competitive landscape of the global industry player and helps the companies to garner Financial Sponsor or Syndicated Loans Market revenue by understanding the strategic growth approaches.

Major Types of Financial Sponsor or Syndicated Loans covered are:

Underwritten Deal

Club Deal

Best-Efforts Syndication Deal

Major Applications of Financial Sponsor or Syndicated Loans covered are:

Banks

Non-Banking Financial Institutions

Others

Research objectives:-

– To study and analyze the global Financial Sponsor or Syndicated Loans consumption (value & volume) by key regions/countries, product type and application, history data.

– To understand the structure of the Financial Sponsor or Syndicated Loans market by identifying its various sub-segments.

– Focuses on the key global Financial Sponsor or Syndicated Loans manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.

– To analyze the Financial Sponsor or Syndicated Loans with respect to individual growth trends, future prospects, and their contribution to the total market.

– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

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Table of Content

1 Report Overview

1.1 Study Scope

1.2 Key Market Segments

1.3 Players Covered

1.4 Market Analysis by Type

1.5 Market by Application

1.6 Study Objectives

1.7 Years Considered

2 Global Growth Trends

2.1 Financial Sponsor or Syndicated Loans Market Size

2.2 Financial Sponsor or Syndicated Loans Growth Trends by Regions

2.3 Industry Trends

3 Market Share by Key Players

3.1 Financial Sponsor or Syndicated Loans Market Size by Manufacturers

3.2 Financial Sponsor or Syndicated Loans Key Players Head office and Area Served

3.3 Key Players Financial Sponsor or Syndicated Loans Product/Solution/Service

3.4 Date of Enter into Financial Sponsor or Syndicated Loans Market

3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product

4.1 Global Financial Sponsor or Syndicated Loans Sales by Product

4.2 Global Financial Sponsor or Syndicated Loans Revenue by Product

4.3 Financial Sponsor or Syndicated Loans Price by Product

5 Breakdown Data by End User

5.1 Overview

5.2 Global Financial Sponsor or Syndicated Loans Breakdown Data by End User

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In the end, Financial Sponsor or Syndicated Loans industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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Infosys Finacle implements Digital Banking Suite at Shivalik Bank

Infosys Finacle has said it has successful implemented Finacle Digital Banking Suite on cloud for Shivalik Mercantile Co-operative Bank Ltd. This will …

Infosys Finacle has said it has successful implemented Finacle Digital Banking Suite on cloud for Shivalik Mercantile Co-operative Bank Ltd. This will help the bank to effectively manage scale and power its growth with an on-demand portfolio of products and services.

“The banking industry considers it the right time to move to cloud. It will bring elasticity of operations and has been designed for the mobile-first world,” said Venkataramana Gosavi, Senior VP, Infosys Finacle.

Gosavi said the ecosystem for cloud has matured across the world. Further, there is ample regulatory support in India for deploying cloud. He said that more than 60-70% of their clientele has active cloud conversation.

Cloud4c is the cloud technology partner for Finacle’s cloud infrastructure for the bank.

Shivalik Bank is a cooperative bank with 31 branches spread across Uttar Pradesh and Madhya Pradesh. The bank has now received the license to expand operations in Delhi and Uttarakhand.

Suveer Kumar Gupta, MD and CEO, Shivalik Bank, said that the bank’s focus is on inclusive banking but customer preferences vary from brick bank (bank branches) to click bank (online banking). “Our focus is to target the youth and make banking hassle free,” said Gupta.

Shivalik Bank now plans to offer paperless account opening through e-KYC. Harsh Mittal, CTO, Shivalik Bank, said that more than 100 accounts are being opened on a daily basis.

Using the Finacle model, over 3,00,000 customers have been migrated to the Finacle platform to date. At present, 25000 customers engage in internet banking and over 10,000 customers use the mobile banking services. There have been 30,00,000 digital transactions so far.

The co-operative bank transitioned to the new Finacle platform over a period of 12 months. Mittal said that the new model has led to greater operational efficiency for front end users.

Gosavi said that Finacle has provided integrated services to a cooperative bank for the first time in India.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.

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