Connect with us

Business

Fintech, the democratization of finance

Published

on

fintech finance

New technologies are a powerful tool that is available to everyone. 67% of the world’s population has a cell phone, and the use of electronic devices with Internet access is increasingly widespread in both developed and developing countries. We live in an incredibly connected world, where people everywhere have access to an abundance of content and information.

More and more sectors and institutions have an online presence, and the financial sector is no exception. Banks manage their data on the web, and many have platforms to facilitate their transactions to users, allowing people to have more direct control over their money and manage it at any time from anywhere. 

Digital finance or Fintech, coupled with online commerce, has opened up a new way for consumers to relate to the dynamics of buying and selling where both sides are benefited. The benefits of internet money management and online commerce facilities are well known. Still, there are many other areas where digital finance has impacted the world, helping the development of many communities and individuals.

Access to finance 

Just as online businesses have emerged, financing platforms have also found a space on the web, their purpose being to provide credit and loans to their users without being a bank. These platforms can be accessed through websites such as https://bonsaifinance.com/loans/same-day-payday-loans/. Traditional methods of financing require many procedures and requirements, so they take a long time to be approved, and there is no guarantee that they will be approved. Online financing platforms are more flexible and provide facilities for users who need to apply for loans.

Financing platforms not only streamline procedures for obtaining loans but are available to many more people. In developing countries, people from the most vulnerable communities often do not have access to traditional financing methods. The lack of funding reduces investment and eliminates opportunities for people to improve their quality of life. Through the financial self-management enabled by online financing platforms, people can manage their projects and improve their economic prospects.

Online financing platforms grant loans and credits to people who do not have a good credit history or who work independently and do not have a salary, both cases for which traditional financing methods are not an option. In each country, these services can be found on the web, and each platform operates differently. But the existence of these sites has boosted the democratization of financing.

Ecological benefits

Fintech, impact on daily life and has implications in the environment. The use of e-money and blockchains are direct ways of migrating monetary operations to the digital field. Cashless payment systems are being used in countries as China, and have gradually implemented in the rest of the world as well. 

Digital money and crypto-currencies are not the only ways Fintech impacts the environment. The existence of platforms where people can together finance green projects and crowdfunding has a direct impact on the development of renewable energy. It is the way many non-profit organizations support their activities.

A clear example of the ecological benefits of Fintech is in the ways that individuals invest in renewable energy, previously the most common way to do so was through the purchase of solar panels, but this investment was expensive. Today there are ways to invest in renewable energy by financing the projects of various institutions working on it, including deciding whether to finance one type of renewable energy and distribute that fund among several projects or direct it to a single company. 

Social benefits

The connection that new technologies allow keeps people together at a distance. Online payment and wallet platforms are great promoters of globalization. These types of platforms will enable a person to work in a company on the other side of the world and be able to regularly receive their salary without even needing a bank account in the country where he was hired. Traders and freelancers have especially benefited from this, and it is one of the ways that people from countries with weaker economies can improve their quality of life. 

These platforms allow people to more easily pay for basic services and send money to their families if they are in different countries, and are often used by migrants for these reasons. Donations received by many organizations with social causes are also made through these internet platforms, as to allow quick transactions to be made. 

Digital finance enables people to have greater control of their money and to be able to mobilize it around the world, increases investment capabilities and enhances financial freedoms. The possibilities for optimizing income are greater today than ever before. Fintech continues to innovate every day by finding better ways to impact personal finance and the global economy to give individuals a higher level of financial autonomy. As the world advances with new technologies, old institutions are losing the credibility of people who prefer to use independent platforms to manage their savings and investments.

Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.

Continue Reading
Comments

Business

Do’s and Don’t’s of Firing People

Published

on

As a business leader one of the hardest things that you could do is fire an employee. Of course, it sounds like an easy thing to do if the employee is rightfully deserving of being fired, but it is a lot easier said than done. Is a decision that many managers actually lose a lot of sleep over, because it’s such a difficult undertaking. 

No matter what you do though, whether you are firing somebody because they are just not the right fit for your business, or you are dismissing an employee for gross misconduct, legal issues can arise that could do damage to your business. HR professionals across the country will tell you that there are many different ways of gracefully terminating an employee’s contract, but there are some do’s and don’ts that you could do to make it an easier process that can help you deal with it. Let’s take a look at a few of those below.

  • Do get everything in order before you fire them. From evidence as to the reason they are fired, to the paperwork for them to leave the business, get everything in order so that there are no loose ends. For a firing to go smoothly this needs to be prepared in advance. Before you terminate the employee, you need to be able to prevent any misunderstandings or even accusations of illegal activity going on. Follow the policies and procedures in place of your organization and if necessary, consult a lawyer. Secure computer files, make sure you pull together all in performance appraisals and written warnings as any other correspondence that you might need. You should also make sure that you have all of the payroll information in place so that you can reassure the person being fired that they will be paid according to the law.
  • Do choose a private space. Let’s be honest, nobody wants to be fired from their job. It leaves a bad taste, it’s nothing to be proud of, and it can be embarrassing for the employee. When you are dismissing somebody, you need to choose the right time and place and make sure that there are no eavesdroppers. It’s always a good idea to do it as early in the week as possible at the end of the day so that you minimize impact to your business. If an employee depends on the company or their colleagues to get home, it just makes good sense to ensure that they are not going to be left stranded.
  • Don’t fire somebody with an audience around. As we mentioned before, anybody in your business has a right to privacy. Doing it in front of an audience will be poor behavior on your part as an employer. It also won’t help people in the office to feel comforted by the idea that they may not be next. Use an official meeting space, as it’s a private and neutral location that is free from any disruption.
  • Don’t forget to toe the line. If you terminate an employee on parental or medical leave, or you terminate an employee who is pregnant, you are going to open yourself up to a lawsuit. Toe the line when it comes to the law and make sure that you are firing somebody with all of your ducks in a row in advance.

Terminating an employee’s contract is not easy, but sometimes it needs to be done.

Continue Reading

Business

Best Strategies to Create an Comfortable Atmosphere in Your Restaurant

Published

on

Creating an inviting and comfortable atmosphere in any restaurant is essential for success. Customers often form their first impression of the restaurant based on its ambiance, and if it isn’t pleasant or enjoyable, they are less likely to come back. It’s important to consider all aspects that can make up a positive dining experience — from the decor to the music playing in your establishment to the service you provide. Here are some strategies that will help you create an atmosphere that customers won’t forget.

Decor:

The key to creating a cozy environment is by designing decor that reflects your restaurant’s style and promotes relaxation. Think about what kind of mood you want customers to feel when they enter your restaurant — from the lighting to the art on the walls to the decorations that adorn your tables. Depending on the cuisine you serve and the atmosphere you want to create, consider investing in muted tones or warm colors for a calming effect or bright and vibrant shades for an energetic vibe.

Music:

The music playing in your restaurant can make all the difference. Too loud music can be overwhelming and uncomfortable, while music that’s too quiet won’t create an inviting atmosphere at all. Consider investing in a music player for restaurant so you can control what music is played and when it starts and stops. You should also consider whether you want to provide live or recorded music. Live music will usually give customers a sense of authenticity and provide them with something to enjoy during their meal, while pre-recorded songs can help set the background without being distracting.

Service:

Your service can be just as important as the ambiance in creating a memorable experience. Make sure your staff is well-trained, friendly, and attentive to guests’ needs. Ensure they understand your restaurant’s standards and expectations — from proper table setting etiquette to how glasses should be filled. Customers greatly appreciate being treated with respect and kindness, so make sure your waitstaff is not only efficient but also shows genuine care for their customer’s satisfaction.

Atmosphere:

Creating the perfect atmosphere requires more than just the decor, music, and service — it also includes small touches that will make your restaurant stand out. For instance, consider offering complimentary snacks or appetizers to customers while they wait for their meals to arrive. You can also provide warm towels after meals as a sign of endearment and appreciation. Additionally, choosing linens with exquisite patterns or using fresh flowers on each table will add even more charm to your restaurant’s atmosphere.

Continue Reading

Business

Turn Your Passion into a Career: How to Make Money Doing What You Love

Published

on

Many dreams of turning their hobby, passion, or creative outlet into a career. It’s a beautiful idea, but it can take time to figure out where to start. Here’s a guide on successfully turning your hobby into a career. 

Do Your Research 

Before you turn your hobby into a business, please research and find out what the industry looks like, your potential customers and their needs. Next, consider your strengths, skills, and knowledge and decide how to use them in this new venture. Finally, consider what makes you unique in the industry and how you can market yourself. 

Take A Strong Career Test

A Strong Career Test can help you identify your ideal job and the type of environment you would flourish in. In addition, knowing this information can give you an idea of what kind of business to start and whether it’s something you’d be passionate about.

Think About Finances and Legalities 

Once you have an idea of what you want to do, consider the financial aspect – are there any costs associated with getting started? What sort of budget will you need? Will there be any tax implications? It’s also essential to think about the legal side of things – if necessary, consult with a lawyer specializing in business law so that you understand all the regulations associated with starting up and protecting your intellectual property rights. 

Create a Business Plan 

Now that you have researched and considered the legalities and finances involved, create a business plan that outlines all this information. Make sure it includes short-term and long-term objectives to keep track of your progress over time. Be realistic when setting targets for yourself – don’t aim too high at first because this could set you up for failure if it doesn’t pan out. Also, consider whether or not there is potential for growth or expansion once your business gets off the ground. This may include marketing strategies such as social media campaigns or investing in advertising materials such as brochures or flyers. 

Start Networking 

Networking is essential when launching any new business; it’s about building relationships with people who may be interested in your offer. Start by reaching out to family, friends, and acquaintances who may already know about your business or service offering; they may even be willing to share it with others! Additionally, join online groups related to your area of expertise – these are great places for exchanging ideas with like-minded people and potentially finding potential customers/collaborators/mentors/partners, etc. Finally, attend events such as trade shows or conferences where relevant topics are discussed – these are ideal opportunities for making connections within the industry that could prove beneficial down the line! 

Turning your hobby into a career is no small task, but it can be approached thoughtfully and strategically! Please research the industry thoroughly before beginning to understand its nuances; familiarize yourself with the legalities of running a business; create a viable yet ambitious business plan; network extensively (both online & offline). And never give up! With dedication & hard work, anything is possible.

Continue Reading

Trending