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The most exclusive Bank of the 21st century is totally digital

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When you think of banks, where the rich and famous keep their money, private banking giants such as UBS, Merrill Lynch or JP Morgan come to mind with hundreds of billions of assets under management. It is true that these financial institutions are at the forefront when it comes to assets under management and some of them have been in business for hundreds of years. However, when it comes to exclusivity, it is not always the biggest players who offer the best service.

The banking industry is experiencing a trend similar to that of many other industries. Traditional banks are being challenged by technology as new players use Internet and mobile applications to digitise the entire banking process. As a result, the customer benefits from an easy-to-use and hassle-free process to open accounts, transfer or manage their money.

One of the fastest growing and most successful digital banks is Black Banx. The Black Banx group was established in 2014 by Internet billionaire Michael Gastauer.

The fully digital bank launched its services in December 2015, allowing customers in 180 countries to open checking or savings accounts in 28 currencies. What is unique for the banking world is that the entire process of opening accounts in Black Banx can be done online in less than 8 minutes, eliminating the time and costs that a customer in Brazil, Mexico or Colombia would have to invest in traveling to Switzerland, USA or the Caribbean to meet with your banker to open an account. Black Banx allows any type of online banking activity in real time through its blackbanx.co platform. It is therefore no surprise that in the first four years, more than 8 million customers used the Black Banx service to open accounts.

In April 2019, Black Banx Group launched TITANIUM, a private banking program tailored to its clients at the highest level. TITANIUM is a fully digital private banking product that offers one of the most exclusive services for a group of clients. To become a TITANIUM customer, which is by invitation only, the customer must have an account at BlackBanx.co. The criteria for receiving an invitation require an account balance of US$ 1 million. It’s founder Michael Gastauer, CEO of the Black Banx Group, personally created the program to guarantee the most exclusive services for its high-level clientele. With a net worth of more than US$ 10 Billion, the founder has an in-depth understanding of the type of services VVIP customers need. Black Banx also took advantage of their close relationships around the world to ensure that maximum value is given to their TITANIUM clients.

By asking Michael Gastauer what TITANIUM is offering his High Net worth clients, he responded that he sees his clients as his business partners he is helping to solve their banking problems.

Part of the elite service that Black Banx offers its TITANIUM clients is a private jet pick up service to meet the founders and board members of Black Banx.

The TITANIUM account package includes a Black Banx Visa Titanium card, in which the client can set their spending limits up to US$ 1 million per day. With this type of limits, the Black Banx TITANIUM card offers an exclusive shopping service, which helps customers to buy the most sought after pieces. Using Black Banx`s exclusive relationships with high-end luxury brands such as Hermes, Chanel, Patek Phillip, Graff etc. to acquire the most attractive pieces ranging from handbags, watches, jewellery or pieces of art is an exciting experience Black Banx offers to their Titanium clients. “In many cases the relationship with our client has the dynamics of a friendship rather than the feeling of doing business”, says Abygail DeSousa, COO of Black Banx. Some of the benefits of having a Black Banx Titanium card include services such as access to catwalk collections, invitations to fashion shows through industry contacts in the four major fashion capitals. Custom services include exclusive presentations of various brands that are transported privately to the client’s location.

Other options include visits to museums outside opening hours, made according to the clients’ agenda and include private exhibitions of plays, ballets and small group concerts or a visit to private wine cellars where customers can try French wines that will never be available for purchase. The bank service for its VVIP clients assigns a relationship manager dedicated to financial matters, in addition to a lifestyle manager, available 24 hours a day, for personal requests. Lifestyle managers can organise an unparalleled red carpet experience at the most attractive restaurants, hotels and clubs to provide white glove service in all aspects of entertainment, travel and commerce. Private chefs with Michelin stars and personal butlers are also included in the list.

The bank’s VVIP service offers a wide variety of options and is committed to delivering real value to its customers. Many of its services are personalized individually and are only disclosed to its members.

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How To Get Rid Of Debts With The Best Debt Management Program

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Sometimes you have so much money that you think, how you can swim in money like Scrooge McDuck. Sometimes you have to take the extreme of bankruptcy. Hardly anyone can say that he is immune to financial ruin. Lack of job opportunities, increasing cost of living and other factors can bring financial difficulties in your everyday life. If you are buried deep under debt, you want to get rid of them as quickly as possible.

A debt management plan is one of the ways you can beat financial challenges due to debt. You will sit with a credit counselor and he will create the best debt management program after evaluating your financial situation. It is a plan you can easily afford. The counselor will negotiate with all of your lenders. This program will allow you to make lower payments possible. You will be able to get rid of your debt in three to five years.

Instead of sending money to different lenders, you will make one monthly payment to the debt management company. Now, it is their job to make monthly payments to your lenders and creditors. The company can get more favorable terms for you such as longer repayment periods and lower interest rates. So, having the best debt management program makes your life simpler as you are paying less money and making only one monthly payment.

Though it will hurt your credit score, it is not as damaging as a bankruptcy. As your loan balances start to decrease, your credit score starts increasing.

One thing you should keep in mind is that not all loans are included in this program. A debt management plan does not include secured debts. Student loans and some other unsecured loans are also not included.

Creating Your Debt Management Plan (DMP)

Finding A Credit Counseling Agency

Don’t work with any random credit counseling agency that has called you yesterday. Make sure that it is a member of the NFCC (National Foundation for Credit Counseling). It should be a reputed credit counseling agency having an excellent track record. Your lenders and credit issuers should be able to trust the agency.

The first credit counseling session is often free. Always ask about the fee of subsequent sessions and documents you have to bring.

What To Expect During Counseling

When you are meeting your counselor for the first time, you need to bring bills for each lender, your recent pay stubs and banking statements. It is good to have a copy of your credit report. Telephone meetings and web meetings are also very common. So, you might not have to see your counselor in person. In this forty-five minutes to an hour-long initial session, the counselor will assess your debts, incomes, and expenses. The counselor also pays attention to the interest rate you are paying. After doing all these assessments, the counselor develops an action plan according to your financial goals. Your lenders are not involved in this session.

Making A Choice And Getting Started

The counselor will tell you about the pros and cons of all the available options. You can take your time to make the final decision. In case the credit counselor is pushing you to make an immediate decision, you are working with the wrong company. Carefully consider the debt solution you are choosing. Does your budget allow you to stick to the DMP?

What if the plan fails?

You will be in a worse position. So, act wisely.

Putting Together the DMP

If you choose to go for a debt management program, the counselor will ask for more detailed information to set up the best debt management program for you. You need to tell about the lenders you are including, bank account statements, medical bills, and credit card bills. You cannot miss any of your expenses. Make sure that you are comfortable with the due date.

Start Making Payments

Though you have to make only one monthly payment, it should be made on time. So, get used to following your new budget. Your credit counseling agency will negotiate and reach agreements with your lenders. Keep in mind that not all lenders will accept your plan. Once the lenders agree, start making payments.

Don’t ignore the fact that the debt management program is not the only solution for you. If it is right for you, go for it.

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How to Get a Personal Loan with Low Credit Score

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Personal loans are extremely popular financial solutions, as you need not pledge any assets to avail them. However, as lenders do not have any collateral to fall back on in case you default on the loan, they approve loan applications after gauging your repayment ability. One of the important ways in which they do this is by checking your credit score.

 

Your credit score is a number between 300 and 900 that reflects your creditworthiness. In other words, it indicates your debt handling capabilities by considering your ongoing debts and your repayment behaviour on loans and credit card dues. If you have a score below 750, lenders may hesitate to offer you the loan amount that you seek and they may also charge you a higher interest rate. So, it is very important for borrowers to check credit scores before applying for a loan.

 

If you have a poor credit score, consider these points before applying for a personal loan.

 

Look for a guarantor or opt for a joint loan

When you apply for a loan with a co-applicant or a guarantor, you improve your chances of getting a personal loan on pocket-friendly terms. When selecting the guarantor or co-applicant, remember to select someone with a high income and a good credit score. This way, the lender will be assured of timely repayment.

 

Prove your repayment capacity

While lenders check credit scores of all personal loan applicants, they also check your employment details and salary slips to ascertain your repayment capacity. This is because a steady job and a higher salary directly impacts your ability to repay personal loan EMIs on time. So, when you have a low credit score, you can strengthen your loan application by showing a reliable source of income via your job as well as other sources. If you manage to prove that your income has increased in the recent past or you have other sources of income using which you can successfully repay the personal loan, then despite a poor credit score, you can enjoy approval.

 

Request for a lower loan amount

Lenders do not favour the combination of a large loan amount and a poor credit score. Keeping this in mind, ask for a lower loan amount when you have a low credit score and you may find it easier to get your application approved. To decide on the amount, plan your requirements in advance. Then use an online personal loan calculator to determine the loan structure that works in your favour.

 

Appeal for an NA or NH consideration

Your credit score is based on your credit history, which is how you have handled debt in the past. A lack of any activity in this regard for the last 3 years will leave an NA or NH mark on your credit report. In such a case, your CIBIL report may lack a credit score altogether. You can speak to your lender regarding this status and request them to reconsider your application.

 

Apply after improving your score

One of the best ways to proceed is to work on boosting your credit score before applying for personal loans. Try paying your EMIs and credit card bills on time, avoid defaulting on your debts, and abstain from applying for multiple loans all at once. Keep in mind that several ongoing loans on your name can lower your score. Moreover, your credit report may contain errors or may not have the updated information on loans you have paid off, which impacts your credit score. Therefore, keep an eye on your credit report and rectify mistakes to see your score improve.

 

If you’re facing a medical emergency and do not have enough time to improve your credit score, you can consider applying for a loan from NBFCs who have simpler eligibility criteria. Apart from offering instant funding, NBFCs provide an array of attractive features. For instance, Bajaj Finserv offers personal loans of up to Rs.25 lakh at nominal interest rates and tenors ranging up to 60 months.

 

With easy-to-meet personal loan eligibility criteria and minimal documentation, you can apply for a loan quickly and easily here and even enjoy the features of a flexi personal loan. This allows you to withdraw funds from your total loan in parts, multiple times. Interest is incurred only on the amount you withdraw, and you can choose to pay interest-only EMIs, thus reducing your EMIs by 45%. To make the most of instant loan approval, check your pre-approved offer. This customised deal ensures you get the financing you need without any hiccups.

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Tips to Write a Product Review for Promoting

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An affiliate marketer can promote his online business by writing enticing product reviews. It is true that there are other ways to promote one’s online business and make the target readers aware of one’s products and services. You can resort to website content writing, blog writing and posting, article writing and E book writing for making your products and services popular among target audience. But, writing reviews can actually help to boost your affiliate marketing business. However, it is found that online readers express doubts about the product reviews found online. The reason is many have been cheated by fabricated reviews. It is true that in many instances marketers have tried to hoodwink the readers either through exaggeration or by fabricating facts.

Although, readers have revealed their doubts, product reviews are still considered to be essential for promoting a product or service. The readers read the reviews and cautiously take their decisions before purchasing and using a product. That is the reason why we need to write authentic, high quality and exceptional reviews to make our products popular among the consumers and, at the same time, urge them to purchase our products. Now, what are the methods you should follow for writing a product review? Well, here are some tips which you can consider while reviewing a product.

Need to Have a Well- Structured Affiliate Website

A well structured website can surely help in writing review. To put it in simple words, a good website contains ample information that helps the affiliate marketers to write good and authentic reviews. Moreover, when you have ample information, you know exactly what to include in your reviews, which can attract the readers. However, while using the information from the website, do no copy it exactly, but try to structure the review in your own style- a style that can entice the consumers.

Consider The Needs and Demands of the Target Readers

Before you start writing a review, you should try to understand your readers well. Your reader might be a novice who is least interested about the technicalities. He is only interested in the basics. Write your review according to the demands of the readers. In addition, maintain an informal style of writing, rather than being overtly professional. You are actually helping the consumer to understand a product and then, encouraging him to purchase it read more here. So try to be informal and use simple language.

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