Credit Limit – Sznurki http://www.sznurki.net/ Sun, 02 May 2021 05:56:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 https://www.sznurki.net/wp-content/uploads/2021/04/sznurki-icon-150x150.png Credit Limit – Sznurki http://www.sznurki.net/ 32 32 ‘RHONJ’ star Jennifer Aydin’s $ 1.8 million mortgage revealed https://www.sznurki.net/rhonj-star-jennifer-aydins-1-8-million-mortgage-revealed/ https://www.sznurki.net/rhonj-star-jennifer-aydins-1-8-million-mortgage-revealed/#respond Sat, 01 May 2021 12:59:32 +0000 https://www.sznurki.net/rhonj-star-jennifer-aydins-1-8-million-mortgage-revealed/

well done

Jennifer Aydin from Real Housewives of New Jersey

Jennifer Aydin has a sprawling home and a high credit limit, but recently denied having a mortgage. ‘Real Housewives of New Jersey’ star’s 9-bedroom, 16-bathroom palatial palace, Paramus, New Jersey was in the spotlight on the last episode of the Bravo reality show Jackie Goldschneider describes the mansion as “the Taj Mahal … if the Taj Mahal had a huge mortgage – and no furniture.”

During an appearance on “Watch What Happens Live,” Aydin reacted to her co-star’s joke about her finances.

“I found it interesting because I don’t have a mortgage,” Aydin said, by Bravo TV. “I paid for this property in cash, and we built it halfway, we paid by bank check, and the rest was a construction loan to complete the construction. So I don’t have a mortgage. Check that out, lawyer!


Jennifer Aydin and her husband reportedly have a large mortgage on their mansion

RHNJ

GettyJennifer Aydin and Bill Aydin.

Although Aydin claimed to be mortgage free, a new report from page six revealed that Aydin and her husband, plastic surgeon, Bill, actually had a large home loan in their name. The loan, which is clearly labeled as a “mortgage” in the filed real estate documents, was taken out in 2014 and stands at $ 1.875 million. The mortgage must be paid off in full by June 1, 2044.

Page Six noted that there was also a construction rider at the end of the mortgage paperwork which states that the couple took out the loan to complete construction of their mansion and that payments would be made “in installments as and when. as the work progresses ”. After construction was completed, the couple had to pay the total outstanding balance with interest each month. The outlet confirmed through an Aydin representative that she still owed money on her house. Another insider said the reality TV star was unaware her construction loan was the same as a mortgage.


Jennifer Aydin recently redecorated her “ Paramus Palace ”

Jennifer aydin

well doneWell done star Jennifer Aydin

While somewhat in the dark about her mortgage business, Aydin woke up when “Watch What Happens Live” host Andy Cohen shifted gears to point out that she just got all the new furniture for his house. Aydin confirmed that Z Gallerie did a massive makeover on her house and that she loved how it turned out.

In a recent interview with people, Aydin also addressed her ornate old home decor that she had arranged on a trip to China. She admitted that she “was really not happy with the outcome” of her shopping spree in China, but she also did not appreciate the comment from her co-star Margaret Josephs that her furniture was “of” quality. shit ”.

Josephs had previously criticized Aydin’s Real Housewives of Season 11 slogan: “Anyone who says money can’t buy happiness clearly doesn’t have my credit limit.” the Tuna budget, caviar dreams author told us weekly “Getting Real with the Housewives” Podcast that she doesn’t think Aydin is a “bad person”, but she feels that her materialistic co-star “doesn’t understand what’s going on in the real world”.

READ NEXT: RHOBH Star gives surprising update on relationship with Costar





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Alert: Supply chain finance and trade credit insurance in the spotlight | Cooley LLP https://www.sznurki.net/alert-supply-chain-finance-and-trade-credit-insurance-in-the-spotlight-cooley-llp/ https://www.sznurki.net/alert-supply-chain-finance-and-trade-credit-insurance-in-the-spotlight-cooley-llp/#respond Tue, 27 Apr 2021 17:25:52 +0000 https://www.sznurki.net/alert-supply-chain-finance-and-trade-credit-insurance-in-the-spotlight-cooley-llp/

As struggling businesses continue to seek liquidity amid the COVID-19 pandemic, many have turned to supply chain finance (SCF) solutions to strengthen their balance sheets and mitigate risk. SCF is a financial transaction in which a bank or a third party provides financing to pay the supplier of goods and services to a business. This type of transaction can benefit all parties: the supplier is paid earlier – but less – than he would otherwise be; the company benefits from extended payment terms and reduced working capital requirements; and the bank or a third party pockets the difference.

However, SCF is not without significant risks for different parties, including the risk that the company will not meet its extended payment deadlines. Commercial credit insurance (TCI) seeks to solve this problem by protecting these parties against losses due to non-payment, and the demand for this type of insurance has continued to increase in recent years. In recent months, there has been significant media coverage regarding both SCF and TCI regarding the non-renewal of a leading firm’s insurance policies and its subsequent insolvency. In view of these developments, it is more essential than ever for policyholders to review their TCI policies to understand – and have the opportunity to improve – any risk of cancellation or early termination, non-renewal provisions (including including the timing of any notice required.) and other potential coverage gaps.

Trade credit insurance

In its most basic form, TCI is insurance against the risk of non-payment. This is an important risk management tool for all types of businesses with accounts receivable, and banks, lenders or investors often require this type of hedging in SCF transactions. Although coverage under a TCI policy generally applies after a customer has been in default for a certain number of days or has filed for insolvency, TCI policies vary widely in terms of policy and l exact extent of the coverage they provide. This includes, inter alia, any coverage for losses resulting from political risks (eg government actions or political unrest); how policies can define “default” or “insolvency”; the number of exclusions of coverage (including the extent of any coverage offered for disputed debts); and any obligation to cooperate and report. Thus, policyholders must be proactive in understanding their coverage and ensuring that it meets the actual needs, structure and capabilities of their business.

Early cancellation, termination and non-renewal provisions

If you were relying on an insured credit limit for a major customer and that insured credit limit was reduced to zero effective tomorrow, how would that impact your business? What if your insurance policies were unexpectedly canceled or not renewed with little notice?

Recent media coverage has highlighted the potential impact that an unexpectedly canceled or non-renewed policy can have on a business, especially one that relies on money from lenders or investors who need money. TCI coverage as a condition of financing. Many policyholders might be surprised to learn that their TCI policy may allow the insurer or insurers to change, reduce or withdraw a customer’s credit limit at any time and for any reason. Considering the significant impact that TCI can have on a business, it may be prudent for a policyholder to take a fresh look at the main provisions of the policy and try to negotiate some limits, such as not being able to change. the credit limit only on an annual basis or after a certain defined notice period. Likewise, policyholders can benefit from negotiating narrow termination clauses and carefully examining the scope of these provisions, especially with regard to false insurance claims or other misconduct. Finally, it is imperative to negotiate provisions relating to the timing of any notice of non-renewal, allowing the policyholder sufficient time to attempt to find alternative coverage.

Conclusion

TCI can be a valuable risk management tool in relation to SCF. However, TCI is not like most insurance policies that a policyholder buys, classifies and only subsequently reviews in the event of a claim. Instead, policyholders should pay close attention to the terms of coverage upfront and continue to act diligently in ensuring that the exact extent of coverage is understood and periodically updated to deal with any. change in credit risk and preserve long-term viability. of the company.

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Teco Bank uses imimobile to increase the use of mobile applications https://www.sznurki.net/teco-bank-uses-imimobile-to-increase-the-use-of-mobile-applications/ https://www.sznurki.net/teco-bank-uses-imimobile-to-increase-the-use-of-mobile-applications/#respond Tue, 27 Apr 2021 12:24:23 +0000 https://www.sznurki.net/teco-bank-uses-imimobile-to-increase-the-use-of-mobile-applications/

Global provider of cloud communications software and solutions, imimobile, part of Cisco, today announced it is working with Tesco Bank to improve customer interactions and increase usage of its mobile banking app .

Tesco Bank is a leading UK retail bank offering a range of services including credit cards, insurance, loans, savings and money services such as travel money and a network of free ATMs.

Tesco Bank is looking to encourage more customers to use its Mobile Banking app for all of their banking needs. Tesco Bank has introduced push notifications to its credit card customers for transaction alerts and credit limit reminders, allowing customers to avoid additional charges and take swift action in the event of suspected fraudulent transactions. Today, Tesco Bank sends around half a million push notifications every month and is looking to increase the number of services that use imiconnect.

The imiconnect platform helps Tesco Bank to transparently manage its communications with its customers via its Mobile Banking application. The platform automates and orchestrates two-way customer interactions across multiple digital channels while saving time and reducing costs for businesses.

The timely notifications sent by imiconnect have not only given Tesco Bank customers more control over how they manage their finances, but also helped the bank stay compliant with customer contact regulations. The bank also plans to use the imiconnect platform to introduce customer verification use cases under PSD2 regulations.

Sudarshan Dharmapuri, EVP Products at imimobile, said: “We are delighted to be working with Tesco Bank to provide critical customer communications. We look forward to wider adoption of imiconnect by Tesco Bank as it progresses on its digital adoption journey and hope to fuel more and more interactions with customers while making each interaction more important. “

Martin Burns, Head of Customer Management and Customer Experience at Tesco Bank, said: “We are delighted to be working with imimobile as a trusted technology partner to make further enhancements to our Mobile Banking app. Another is the introduction of push notifications on the app. little help for Tesco Bank customers to manage their money a little better on a daily basis. ”


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What credit cards can you get with a score of 700? https://www.sznurki.net/what-credit-cards-can-you-get-with-a-score-of-700/ https://www.sznurki.net/what-credit-cards-can-you-get-with-a-score-of-700/#respond Tue, 27 Apr 2021 12:00:21 +0000 https://www.sznurki.net/what-credit-cards-can-you-get-with-a-score-of-700/

While a credit score of 700 will not allow you to fill your wallet with high yielding credit cards named after precious metals and gems, you are well on your way to that goal if you continue to grow. good credit habits. You haven’t hit the credit peak, but you can see the peak.

FICO credit scores, the industry standard for assessing credit risk, range from 300 to 850 perfect – with 670 to 739 labeled “good”, 740-799 “very good” and 800 to 850 “exceptional.” A score of 700 puts you right in the middle of the right range, but still slightly below the average credit score of 711.

“A score of 700 isn’t bad,” said Rod Griffin, senior director of consumer education and outreach at Experian. “It’s a little below average, considered premium or low premium. You probably won’t get the best interest rates available. You probably wouldn’t see the premium cards, or the diamonds, or the gold. “

What Can You Do With A Credit Score Of 700?

Instead of just focusing on whether or not a score of 700 is good, ask yourself if it will get you there, said Victoria Sechrist, certified financial trainer at Financial Gym.

“For example, some mortgage refinance lenders require a minimum of 700,” Sechrist said. “Some credit card issuers say they want people 720 and over to get their first tier cards. This doesn’t mean you can’t get approved for credit cards or mortgage refinancing; it just means you may have to shop around more to find a lender with lower credit requirements. If you are looking for a personal loan or 0% balance transfer credit card to refinance higher interest debt, 700 should be enough for you to qualify. “

In the 700 club, your credit limit will likely be close to the average credit limit of $ 4,200, said Ted Rossman, senior industry analyst at Bankrate. This limit may vary depending on income and other debts.

With an average credit score, expect to pay around the average credit card interest rate of 16%, Rossman said. This is better that the 20% or 25% of those with lower scores will pay, but not as well as the 7% or 10% of people with scores of 740 and above might achieve.

What credit cards can you get with a credit score of 700?

While prestige credit cards with rewards of up to 6% are probably still out of reach, a score of 700 will put you in a better rewards bracket than those with a score of 600 that only qualify for credit cards. credit cards with minimal rewards, Rossman said.

“Today, a credit score of 700 has you in the ballpark,” Rossman said. “But other factors are going to tip the scales as to whether you are approved or not.”

Lenders will carefully examine your income, debt ratio, late payments, and recent debts.

“Someone who’s opened a bunch of credit cards is going to look risky,” Rossman said, as does “someone who’s racked up a bunch of debt.”

Rossman said a consumer would likely qualify for a card like the Capital One Quicksilver Cash Rewards credit card, with 1.5% cash back and no annual fee, and the Citi® Double Cash Card, which offers 1%. cash back when you spend and 1%. back when you pay for your purchases.

Overall, Citibank and Bank of America tend to be a bit more lenient in issuing premium cards, Rossman said, compared to American Express, Chase and Discover.

Factors in your favor include your relationship with the issuing bank – whether you have a checking account or a mortgage with that bank, for example.

Even if your credit rating is very good or excellent, issuers may turn you down if they see that you are adding a lot of new cards. For example, some credit card issuers such as Chase may deny you if you’ve opened five or more credit cards in the past two years.

2 quick ways to increase your credit score

1. Add rent and utility payments to your credit report

The good news is that there are legitimate, free, and inexpensive ways to improve your credit score – no magic trick is required.

Experian offers a free service, Experian Boost, which allows consumers to add payments to their credit history that are not traditionally reported to credit reporting agencies, including cell phone bills, utilities, and credit reports. streaming services.

“They give us permission to access their checking, savings or credit card accounts for these payments and we add those payments to their credit reports,” Experian’s Griffin said. “It’s one of the most empowering things we’ve seen for people – it puts the choice in their hands.”

People with scores below 680 increase their credit scores by an average of 19 points, Griffin said. (That just puts them within range of our 700 club.) In general, consumers are seeing an average increase of 13 points, he said.

Experian’s data showed that adding these payments didn’t skew credit scores inaccurately, but rather helped lenders identify new customers who actually have good credit risk, Griffin said.

Similar programs include

  • eCredable Lift, which reports your phone and utility payments to the TransUnion credit bureau for $ 25 per year
  • Experian RentBureau, which allows consumers to add on-time rent payments to their credit history
  • A free app called Perch, which reports payments for streaming services and rent

2. Reduce your credit utilization rate

Lowering your credit usage rate will increase your score. This means paying off your credit card balances so that they represent a small percentage of your overall available credit.

“Just because a lender says you can borrow a certain amount doesn’t mean you should,” Sechrist said. “You need to keep your utilization rates below 35%. For example, if your monthly credit card limit is $ 10,000, you want your balance to be less than $ 3,500 at all times. “

Another way to lower your credit usage rate, even if you pay off your entire balance each month, is to make your payment early or make an additional payment mid-month, Rossman said.

“Even if you pay your bills in full, you might still have a high credit ratio,” Rossman said. “Your balance is reported on the statement date, so reduce your balance before posting the statement.”

While it can be tempting to close credit cards you aren’t using, think twice, especially if there is no annual fee, Sechrist said. These cards can help you keep your credit usage rate low and, if you’ve had them for a long time, help you maintain a long credit history.

700 no longer above average, even during the pandemic

In 2005, a score of 700 would have marked you as above average, which was 688, according to the FICO Blog. Since then, average credit scores have increased, but generally only a few points per year. From 2019 to 2020, that average score jumped by eight points. The COVID-19 pandemic has made consumers and lenders more cautious.

“Scores actually improved throughout the pandemic,” Griffin said. “Payments have remained stable. We have seen a decrease in utilization rates and a decrease in delinquencies. We see that things continue to be positive. “

Banks tightened standards in all three categories of consumer loans – credit card loans, auto loans and other consumer loans – during the first quarter of 2020, online, according to a April 2020 Federal Reserve report.

“At the time of the pandemic, things changed, but the worst fears did not come true,” Rossman said. “A year ago I would have said if you were 670 or older you could be approved by most credit cards. Now it’s more like 720 or higher. A year ago, fears skyrocketed, but the worst fears have not come true. “

The bottom line

Whether your goal is to achieve a credit score of 700 or you are aiming even higher, keep practicing and building good credit habits. With average credit scores on the rise, this is a time when you really want to keep pace with the Joneses.


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Brits buy now, pay later companies: AppToPay, Butter and Curve https://www.sznurki.net/brits-buy-now-pay-later-companies-apptopay-butter-and-curve/ https://www.sznurki.net/brits-buy-now-pay-later-companies-apptopay-butter-and-curve/#respond Tue, 27 Apr 2021 08:37:57 +0000 https://www.sznurki.net/brits-buy-now-pay-later-companies-apptopay-butter-and-curve/

Swedish credit colossus Klarna isn’t just Europe’s most valuable start-up with an estimated $ 31 billion, it’s also a verb.

Rather than paying for something up front using their debit card or making a big purchase on a credit card, a growing number of shoppers, especially the younger ones, are choosing “Klarna” instead.

It could mean paying for their clothing store a month after buying it, or spreading the cost over three, four or more weekly or monthly installments with the promise of no interest.

Buy Now, Pay Later platforms have signed up millions of users with interest-free payment credit offers

Although it only represents a small percentage of the online credit market, the buy-it-now, pay-back industry is booming, and others want a share, as controversial as it is.

Familiar names like John Lewis, Marks & Spencer and Next have built or are creating their own in-house deferred payment systems, while both Main Street and online retailers have teamed up with Klarna, PayPal. and Antipodean. imports Clearpay, Laybuy and OpenPay.

And while most of the vendors that populate the checkouts are imports, there are several local versions that, although you may not have heard of them, are hoping to cash in on the credit craze at checkout.

These are based on Doncaster AppToPay, Based in London Butter and Curve, which is based in Bristol and London.

How do these companies differ and what are the unique selling points? It’s money take a look:

Butter: ‘original’ UK supplier buys now, pays later

Claiming to be the UK’s leading supplier of BNPL, Butter, which comes with the slogan ‘spread the costs’, came into being in 2017 as a service aimed primarily at travelers.

Founded by Timothy Davis, Nik Haukohl and Stefan Hobl four years ago, the company was previously called Pay Monthly Travel, then Sploor, and allowed borrowers to spread the cost of flights.

It still offers that, along with vacations, with breaks in Berlin, Istanbul and Oslo marketed as being available for under £ 20 per month.

A return flight to Amsterdam from London Heathrow would cost £ 162.66 round trip, reimbursed in 10 installments of £ 16.26 each.

Butter started life as a company called Pay Monthly Travel, and still allows borrowers to spread the cost of flights over monthly installments.

Butter started life as a company called Pay Monthly Travel, and still allows borrowers to spread the cost of flights over monthly installments.

Butter co-founder and CEO Timothy Davis

Butter co-founder and CEO Timothy Davis

However, with the coronavirus pandemic resulting in widespread stranding of international flights and a boom in online shopping, the company has changed course.

In July 2020, he changed his name to Butter, adopted the installment payment credit model that has become well known thanks to companies like Klarna, and raised £ 15.8million at the end of last month.

Although it is a relatively small and probably unknown name, with assets of just £ 2.06million at the end of 2019 according to its latest accounts, it has already made deals with some big names in the street, including Argos, Asos, Currys PC World, IKEA, Smyths Toys and Zara.

Unlike some more well-known BNPL providers, however, Butter cannot be used as a payment option at retail checkouts. Instead, users have to download a mobile app and make purchases there.

They can be spread over two, three or four installments, and affordability checks are carried out beforehand, with users having to provide their bank details through open banking and the reference agency Credit Kudos.

It charges no interest, but a late payment fee will see borrowers charged £ 12.

It has now turned to offering interest-free credit to buyers in partnership with retailers like IKEA and Zara.

It has now turned to offering interest-free credit to buyers in partnership with retailers like IKEA and Zara.

AppToPay: the family business based in Doncaster

Founded in 2018 in Bawtry, a market town just south of Doncaster, AppToPay is a credit card and loan hybrid that grew out of a family-owned clothing store called Robinsons.

The concept, founder James Jones told This is Money, came about trying to sell ‘thoughtful purchases’ like £ 1,000 Mulberry handbags’ to people with stable incomes who don’t have lump sum ” on hand.

After an affordability check, again carried out via Credit Kudos, borrowers would be given a credit limit of up to £ 2,000, like a credit card.

James Jones, Founder of AppToPay

James Jones, Founder of AppToPay

AppToPay was launched after the experience of James Jones' family business, the Robinsons clothing store, in Yorkshire

AppToPay was launched after the experience of James Jones’ family business, the Robinsons clothing store, in Yorkshire

However, all repayments are made on fixed monthly terms, ranging from two to 12 months, depending on how much borrowers can afford to repay each month.

AppToPay is also fairly transparent with the potential drawbacks of missing payments, detailing at the bottom of its website that missed payments are subject to a £ 12 fee and that “ all options other than an outright payment have a risk. potential to damage a credit score. ”

AppToPay works like a hybrid between a credit card and a loan

AppToPay works like a hybrid between a credit card and a loan

The company is regulated by the Financial Conduct Authority and also grants borrowers credit card-like protections under Section 75, which could be more widely rolled out in the purchasing industry now, payments later.

Commenting on the more overt warnings on the site, Jones told This is Money “ that people should be able to make an informed decision about what to buy, both with AppToPay and the goods. ”

The program is currently in the trial-only stage with Robinsons, with more than 6,000 applications in the past two years, according to Jones, although not all of them are accepted because the trial is “ funded on our backs. ”

Although it is app-based, it is only available for in-store purchases, after which the app is downloaded and the purchase is made through it, a process that takes “ approximately 25 seconds ”. .

He added: ‘We are in early talks with a number of potential investors and strategic partners to enable us to expand our offering to consumers,’ but said he was unable to disclose more details for now.

Curve credit: the last card in the wallet

Curve was released in 2016 and has come to be known as the “ card that lets you use multiple cards at once. ”

At one point, briefly, it even became a way for people to use American Express cards in places that would not otherwise accept Amex.

Since then, it has expanded its product line, offering premium and metal cards with monthly fees and additional perks, and allowing people to rewind their purchases in order to purchase them with another card.

Curve allows users to load multiple maps onto a single app and choose which one to sync with a physical map

Curve allows users to load multiple maps onto a single app and choose which one to sync with a physical map

He is currently testing Curve Credit, which will allow people to repay buyers in installments.

He is currently testing Curve Credit, which will allow people to repay buyers in installments.

Now, in order to strengthen its position in the subsequent payment arena, it is testing “Curve Credit”, which will allow “customers to split any transaction into several installments with a single click”.

Potential customers can currently only join a waiting list, which does not require them to be a Curve customer.

Details are still pretty thin on the ground, but, according to Techcrunch, borrowers will either owe money to Curve after making a purchase on the card, or to another lender in a market-type model.

The app-based card provider had 2 million customers at the start of this year, although there has been lingering controversy over how many use these cards regularly.

Some links in this article may be affiliate links. If you click on it, we can earn a small commission. This helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.


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imimobile partners with Tesco Bank to propel digitally-driven customer interactions https://www.sznurki.net/imimobile-partners-with-tesco-bank-to-propel-digitally-driven-customer-interactions/ https://www.sznurki.net/imimobile-partners-with-tesco-bank-to-propel-digitally-driven-customer-interactions/#respond Tue, 27 Apr 2021 07:06:55 +0000 https://www.sznurki.net/imimobile-partners-with-tesco-bank-to-propel-digitally-driven-customer-interactions/

Tesco Bank uses imilog in to help credit card customers better manage their money

LONDON, April 27, 2021 – Global supplier of software and cloud communication solutions, imimobile, which is part of Cisco, announced today that he is working with Tesco Bank to improve its interactions with its customers and increase the use of its mobile banking application. Tesco Bank is a leading retail bank in the UK offering a range of services including credit cards, insurance, loans, savings and money services such as travel money and a network of free ATMs.

Tesco Bank credit card customers can better manage their money

Tesco Bank is looking to encourage more customers to use its Mobile Banking app for all of their banking needs. Tesco Bank has introduced push notifications to its credit card customers for transaction alerts and credit limit reminders, allowing customers to avoid additional charges and take swift action in the event of suspected fraudulent transactions. Today, Tesco Bank sends around half a million push notifications every month and is looking to increase the number of services that use imiconnect.

the imiconnect allows Tesco Bank to transparently manage its communications with its customers via its Mobile Banking application. The platform automates and orchestrates two-way customer interactions across multiple digital channels while saving time and reducing costs for businesses.

Timely notifications sent by imiconnect has not only given Tesco Bank customers more control over how they manage their finances, but has also helped the bank comply with customer contact regulations. The bank also plans to use the imiconnect to introduce customer verification use cases under the PSD2 regulation.

Sudarshan Dharmapuri, EVP Products at imimobile, commented, “We are pleased to be working with Tesco Bank to provide critical communications with customers. We look forward to a wider adoption of imiconnect by Tesco Bank as it progresses on its digital adoption journey and hope to fuel more and more interactions with customers while making each interaction more important. “

Martin Burns, Head of Customer Management and Customer Experience at Tesco Bank, said: “We are delighted to be working with imimobile as a trusted technology partner to make further enhancements to our Mobile Banking app. The introduction of push notifications on the app is another little help for Tesco Bank customers to manage their money a little better every day. “

– FINISH –

For more information, please contact:
imimobile
Nicole Buckfield, Content and Communications Manager
Nicole.buckfield@imimobile.com
Phone: +44 (0) 7852 566226

About imimobile
imimobile was acquired by Cisco in February 2021 and provides cloud-based communications software and services that manage business-critical customer interactions at scale.

We believe that the customer experience is the main competitive advantage of mainstream businesses. So we’re creating a world in which businesses can stay connected to their customers at all times. A world where every point of contact, on every channel, is an opportunity to offer rich, engaging and intuitive experiences.

Our Customer Interaction Management (CIM) suite automates, orchestrates and monitors interactions with disparate back-end systems. This saves time and costs for businesses, while seamlessly connecting to customers on the devices of their choice. We deliver innovative, brand-critical and critical customer interactions for leading global companies and leading public sector organizations including AA, Best Buy, BT, Capitec Bank, Centrica, EE, Hermes, IHG, Mercedes, Orange, O2, Vodafone and Walgreens.

imimobile has global offices in the UK, US, Canada, India and South Africa.

About Cisco
Cisco (NASDAQ: CSCO) is the global leader in the technology that powers the Internet. Cisco inspires new possibilities by reinventing your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Learn more about The network and follow us on Twitter.

About Webex
Webex is a leading provider of cloud-based collaboration solutions that includes video meetings, calls, messages, events, customer experience solutions like a contact center, and collaboration devices specifically designed for enable inclusive collaborative experiences. Learn more about webex.com.




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A pinch of compromise to appease the critics of the SALT ceiling https://www.sznurki.net/a-pinch-of-compromise-to-appease-the-critics-of-the-salt-ceiling/ https://www.sznurki.net/a-pinch-of-compromise-to-appease-the-critics-of-the-salt-ceiling/#respond Tue, 27 Apr 2021 05:03:16 +0000 https://www.sznurki.net/a-pinch-of-compromise-to-appease-the-critics-of-the-salt-ceiling/

Andrew Quomo is one of many Democratic governors pushing for a reduction in SALT.

Barry Williams / TNS

Recently, the Democratic governors of California, Connecticut, Hawaii, Illinois, New Jersey, New York and Oregon asked the White House to lobby to remove the limit on IRS deductions for state and local taxes – known among tax fools as SALT. Several Congressional Democrats also make this pitch. Their lobbying has come under attack from both ends of the political spectrum. Some of the more progressive Democrats rightly point out that removing the cap would unduly benefit the wealthy, and Republicans argue that a higher cap would reward residents of blue states who tax and spend excessively.

As part of Trump-era tax cuts in 2017, a limit of $ 10,000 per tax return was imposed to help fund cuts elsewhere, such as with the alternative minimum tax which often further penalized the middle class than the investor class. However, the SALT cap was only one part of this tax reduction bill. The 2017 law also cut rates for the top bracket far more than the value of those taxpayers’ SALT deductions, and the Trump team also found a way to give huge tax relief to crony real estate investors and partnerships. private individuals with a 20% deduction from their income in what is called the QBID – the qualifying business income deduction.

I wrote previously that the QBID giveaway never made mathematical sense in the first place, since owners of private companies and partnerships already enjoy lower tax rates than investors in public companies whose income from corporations are taxed while their dividends and capital gains are also taxed. at the individual level. So putting a comparable limit on the QBID at the same time as the SALT limit is increased – say to $ 20,000 per joint declaration – would provide tax relief for upper-middle-class taxpayers, entrepreneurs and investors with no one percent windfall. . For Democrats, this is fair trade and provides some, but perhaps not all, of the revenue needed to raise the SALT cap.

But raising the SALT deduction cap to a level that appeases upper-middle-class voters is only half the issue raised by these seven Blue State governors in their call for President Biden. All of these states have high tax brackets for the wealthy and now suffer from the threat of actual emigration from their wealthier residents, those who shop at tax establishments with a view to moving their primary residence to a remote location. low tax or no income. Tax state.

This political dilemma is what public finance experts call “tax competition,” a race between state and state to offer tax benefits to the rich. The federal system must create a level playing field, based on which each state can make rational decisions without that weapon of federal tax policy in its head, and then live with the consequences if they actually drive the rich to other places in the world. exaggerating. them.

The derogatory complaint of wealthy taxpayers is that any move to increase federal and state income tax brackets for millionaires is “confiscatory.” They point to the highest federal marginal tax rate of 37% (which is expected to fall back to pre-Trumpian levels of 39.6%), more the 3.8 percent surtax on Medicare-funded investment income, more their respective state and sometimes the city’s income tax rates, which can be double digits – pushing the combined marginal rate above 50 percent for higher levels. In New York and throughout California, for example, the state-local combination can total top marginal rates above 13 percent. Hawaii and New Jersey both peak above 10 percent, with Oregon and Washington, DC, just behind at 9.9 percent. When you factor in the federal tax bite and about half of its earned income is taken away by tax collectors, the proverbial of a state taxpayer geese don’t just whistle or bite, they leak.

The level of truly confiscatory taxation is questionable, but many fair people would agree that working for less than half of your after-tax income is a logical reason to migrate to a low-tax place if the combined rates are not capped. While accepting the responsibility of paying his fair share, billionaire Leon Cooperman made televised arguments to draw the line at 50 percent. Aware of this serious but self-serving point of view, there are two important political nuances that require further examination and reflection:

● The SALT deduction is not limited to income taxes. This includes property taxes and (sometimes) sales taxes, and no one can claim that “income forfeiture” active taxes on McMansions, especially in tax havens like South Florida, where private wealth is protected from creditors by property protection laws. If wealthy people choose to buy trophy houses, rare works of art, and lavish yachts, it is their elective decision, not a reason for receiving a federal tax benefit.

● Most millionaires are not wage slaves working for wages and bonuses, but are instead allowed to wallow in lower capital gains tax rates. This privilege applies in particular to hedge fund tycoons, oil tycoons, real estate developers and the idle wealthy who have inherited or built large portfolios now taxed at a maximum federal rate of 20%. Again, the question is whether a marginal federal rate of 20% and a high-end state and local income tax rate of 10-14% are really “confiscatory.” Most salaried professionals would disagree, and gag to providing tax relief to these One Percenters while they pay higher rates on the earned income shown on their W-2 forms.

To craft a fair compromise that resolves all of these problems, a SALT deduction cap raised to $ 20,000 could be supplemented with an income tax “circuit breaker” – a provision of the federal tax code allowing a direct tax credit. (not just a deduction). ) for upper-income taxpayers whose combined federal, state and local income and social charges exceed 40% of their total adjusted gross income (not just their last marginal dollar). Property and sales taxes should be excluded from this calculation, making it specific to income tax. Income taxed at lower rates, such as capital gains, would not qualify.

This breaker design eliminates forfeiture tax rates, while denying benefits to preferred investors and fund managers who already treat the federal tax code for lower rates. Looking ahead to the next budget bill, if Democrats in Washington end up raise tax rates for wealthy investors and set a higher cap on the payroll tax, or if the Blue States set even higher rates for millionaires, then this meticulous tax compensation would provide a reasonable safety valve to counter the recurring chants of “confiscation” by the One Percenters and their Congressional Sycophants.

Robin Hood’s tax policies must have their limits. But millionaire Blue State investors shouldn’t always have their cake and eat it, too, as they would if Congress repealed the SALT deduction cap entirely.


GoverningOpinion columns reflect the opinions of their authors and not necessarily those of Governingthe editors or the management of.


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UBS (UBSG: SW) takes $ 774 million surprise hit with Archegos Meltdown https://www.sznurki.net/ubs-ubsg-sw-takes-774-million-surprise-hit-with-archegos-meltdown/ https://www.sznurki.net/ubs-ubsg-sw-takes-774-million-surprise-hit-with-archegos-meltdown/#respond Tue, 27 Apr 2021 04:45:00 +0000 https://www.sznurki.net/ubs-ubsg-sw-takes-774-million-surprise-hit-with-archegos-meltdown/

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UBS Group AG revealed a hit of $ 861 million following the implosion of Archegos Capital Management and pledged to improve risk management, joining Morgan Stanley in blinding investors who had been kept in the dark for weeks about the scale of the losses.

The loss, mostly recorded in the first quarter, eclipsed better-than-expected earnings, with strong performance in the core wealth management business. CEO Ralph Hamers said that while the bank will demand more transparency from customers to avoid such losses in the future, he has defended the business with hedge funds as being “strategic” and said he did not intend to follow his rival. Credit Suisse Group AG to reduce loans.

“Obviously, we are very disappointed with this situation,” he said in an interview with Bloomberg TV. “We are looking at the different prime brokerage relationships, as well as the GFO – the family office relationships.”

Switzerland’s largest bank has been silent on the collapse of Bill Hwang’s family office for weeks, even as Credit Suisse unveiled a $ 5.5 billion blow and Japan’s Nomura Holdings Inc. also warned of large losses. While Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo have all been successful in limiting or avoiding the damage, Morgan Stanley has been criticized by some investors and analysts for revealing a loss of $ 911 million just during its results this month.

Nomura Take $ 2.3 billion Hit on Archegos, Leave most positions

UBS fell 4% in Zurich, pushing shares of European banks down as investors digested the impact of Archegos, which the bank deemed insufficient to disclose earlier.

“Archegos’ losses took the shine off these results,” wrote JPMorgan analysts Kian Abouhossein and Amit Ranjan in a note.

The turmoil over the city’s rival Credit Suisse had given Hamers a period of relative calm, even as the bank battled a $ 4.5 billion penalty in France and the new CEO himself saw his short mandate complicated by a Dutch investigation into his role in a money laundering case at his former employer ING Groep NV.


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Business News | Stock market and stock market news https://www.sznurki.net/business-news-stock-market-and-stock-market-news-2/ https://www.sznurki.net/business-news-stock-market-and-stock-market-news-2/#respond Tue, 27 Apr 2021 04:41:09 +0000 https://www.sznurki.net/business-news-stock-market-and-stock-market-news-2/













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Axis Bank share price rose 13% in 2021 versus a 3.23% gain in Nifty Bank

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