ZeroAvia Founder Val Miftakhov to Speak at BofA Securities Hydrogen Conference

July 8, 2021

The BofA Securities Hydrogen Conference focuses on reducing the carbon footprint of companies around the world. For ZeroAvia’s CEO and founder, Val Miftakhov, that is a concern close to his heart. To focus on the reduction in carbon, ZeroAvia is committed to hydrogen technology that aims to decarbonize the aviation industry. Miftakhov works closely with individuals and companies to develop commercial aircraft that fly on hydrogen-electric power to reduce their carbon emissions.

At the Securities Hydrogen Conference, Miftakhov will speak about that technology and how ZeroAvia is working toward longer flights for both cargo and passengers that do not add to the carbon footprint of the aviation industry. Green hydrogen is also an interest of BofA and other companies, and the conference brings them all together to consider the next options and opportunities in the field. When companies use green hydrogen, there is potential for a reduction in harmful emissions and a stronger supply of energy at the same time.

There is recent and increased interest in this type of renewable energy and the hype surrounding it. Green hydrogen will be the focus of the BofA Securities Hydrogen Conference; it’s the most abundant element in the universe. Both industry and government have begun to pay more attention to what green hydrogen can provide, and that is true in countries like Australia all the way to Saudi Arabia and beyond. American, Asian, and European nations are also taking an interest in this renewable energy option.

People like Miftakhov, who are showing the world how companies and industries can work together to create a renewable commodity sector for nearly any kind of product or service, are responsible for much of this interest. With their focus on commercial aviation, Miftakhov and the team at ZeroAvia understand that renewable energy is the future. Without it, the planet will continue to see increasing pollution levels and all of the related difficulties that come with them. But green hydrogen may be among the best ways to reduce that issue in the future.

Experts project that the renewable energy created by green hydrogen will quickly become a commodity worth trillions of dollars. It will forever change the energy sector and may also play a significant role in the fight against climate change. ZeroAvia is determined to be a part of that with its commitment to hydrogen-electric commercial aircraft. There is currently a world carbon emission target of net zero by 2050, and companies like ZeroAvia may be able to help make that a reality.

Hydrogen has been a hot topic in the energy world over the past few decades, with excitement for the renewable energy source waxing and waning over time. But all indications are that this is a time when using hydrogen is justified. Global research information from BofA has indicated that the world is reaching an inflection point. That means that hydrogen could begin to supply more energy needs, including fueling cars and heating homes.

With that in mind, companies like ZeroAvia are on the cutting edge of technology that could make hydrogen-powered transportation more logical, economic, and accessible. The hope is that hydrogen will become more of a viable alternative to the fossil fuels that most companies use today. When coupled with other forms of renewable energy, hydrogen could be a game changer for working toward net zero carbon emissions for the entire world, not just for a specific industry or group of industries.

Miftakhov will speak at the conference about the work that ZeroAvia is doing and the company’s focus for the future. The BofA Securities Hydrogen Conference is one of many discussions regarding hydrogen and how companies could use it as fuel in place of fossil fuels. With insight from companies like ZeroAvia, there is more opportunity to move hydrogen forward as a fuel for transportation companies and help it expand for use in other industries as well.

Transitioning to green hydrogen over the next few decades could mean using it for home heating, transportation, and other facets of life that no longer require fossil fuels, and that means a lower level of carbon emissions. Trillions of dollars in infrastructure may also be a part of changes throughout the world, as hydrogen production and use could lead to more jobs and a shift to cleaner energy as a whole. With hydrogen poised to provide so much of what the world needs for its energy consumption, conferences like this one are providing places where those committed to making changes can come together and discuss their goals and plans for the future.

About ZeroAvia

ZeroAvia is a company that produces hydrogen-electric aircraft and practical zero-emission aircraft powertrains. The company’s target aircraft are 9- to 19-passenger models, along with similar-size aircraft that transport cargo on journeys of 500 miles or fewer. Founded in 2017, ZeroAvia has headquarters in the U.S. and the U.K. Transforming the commercial aircraft space is one of ZeroAvia’s goals, as the company is committed to reducing carbon emissions and providing cleaner fuel options.

The company’s current HyFlyer II project is a hydrogen-electric-powered commercial aircraft that can fly a range of up to 500 miles and carry either cargo or passengers. By 2030, the company’s stretch goal is to produce an aircraft that can carry up to 100 passengers and travel more than 1,000 miles. The hydrogen-electric powertrains that ZeroAvia creates reduce both carbon emissions and noise.

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Why CBD Brands Use Call Center Technology

July 8, 2021

The CBD world is exploding right now. Not only are vendors making money off their greens and herbs, but they are also turning a profit by selling seedlings and helping people grow their own CBD indoor gardens.

But just like plant growth, as companies grow, it takes more and more energy to “water” them. So why have so many CBD companies found that using contact center software is the best way to boost their workforce optimization? Let’s take a closer look.

Customer Education

As more and more customers call with questions about which fluorescent ultraviolet light bulb is best for home growers, or which local nursery can provide them with soil for the proper germination, companies need to find better customer service solutions to match their stage of growth.

As inbound calls increase it’s a real challenge to maintain customer satisfaction without a proper support team. That’s why so many CBD companies have turned to digital outbound call centers to help field customer inquiries. Customer education is a huge point of sails for many CBD companies as there is so much information that customers need to know.

Brands can’t afford to lose a customer just because they were left on hold for too long while calling about the best grow lights for their greenhouse. Using a cloud contact center allows companies access to amazing CRM integration tools just through an internet connection. Built-in features like virtual agents and interactive voice response take the burden off companies and allow them to deliver the relevant information to that experienced grower who wants a full spectrum light with photosynthetic photon flux density and a reflector for their indoor plants.

Reduced Cost

The setup and maintenance of an in-house support team are costly indeed. That’s why remote call center solutions are the best option for CBD companies. Instead of finding and paying supervisors or remote employees, CBD brands usually decide to go the easy way and opt for a digital outbound call center that can handle all aspects of the customer experience for them.

While there is some investment, call centers tend to pay for themselves as they free up time and resources. It’s just not possible for a finite team in a small space to answer all their phone calls, IMs, texts, and emails about how photosynthesis works with a fluorescent light, and also do their best at their jobs.

A cloud solution allows managers to easily monitor agent performance to make sure that it stays up to par with the quality their company is known for. Customer service solutions are generally much cheaper than an in-house support team as well, making it the better option, causing better customer experiences, which leads to an increase in sales.

Business Continuity

Another drawback to CBD companies handling customer experience on their own is that they can only provide customer support while their support teams are in the office. The remote workers at a call center, on the other hand, are available any day, season, or time of year. This means that Businesses never have to stop working.

Call centers are a great way for younger CBD companies to achieve high output because they allow for easy enactment of best practices in business, and can guide clients through the entire customer journey, from the first call to the final sale.

Digital contact centers also allow for social media integration. This means that all possible channels of communication are covered in one easy-to-use contact center software. No more redundant information is delivered to customers who call and text about the lifespan of their fluorescent bulbs. All of that data is stored for easy analytics. Companies that equip themselves with digital call centers have the right tools to inform their customers, make sales, and provide round-the-clock support.

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Looking for a Business Phone System? Here’s How to Choose One

July 7, 2021

The growth of the internet has seen how we communicate vastly increase, with email and social media just a few of the different ways available for us to connect to businesses at times that are convenient to us. This is why, despite the internet giving us more choice, having a good phone system for any business is vital. It enables customers to actually speak to a member of its staff. It also enables a business to handle a large volume of calls instantaneously, and with ease. If you’re looking for a business phone system for whatever reasons, here are some suggestions about what you need to consider.

1. Know Your Business

This point is mainly for businesses to assess what phone system they’re currently using to speak to customers and suppliers. By making a list of needs, you’ll be able to make a cost-effective decision, without being distracted by other attractive features that may cost more and aren’t something your business needs. In turn, this list can act like a checklist to ensure that the phone system you use has everything to meet your business’s requirements.

2. Consider Your Business Needs

You need to observe how many calls your business receives, and how they’re dealt with, i.e. is there currently enough members of staff to answer every call? If not, is there a voicemail or call waiting facility? This is just for your customers, so what about your staff?

What are the different ways your staff communicate? Are there times they’re calling outside the office? If so, you may want to compare business mobile phone system to yours. However, you also should consider whether they prefer to use another method of communication, like instant messaging, and whether this can be provided by your phone system provider

Your answer to these questions will affect the type of phone system your business would benefit from. For instance, if you regularly have a high amount of both inbound and outbound calls, your business may benefit from the stability of an analogue platform.

Alternatively, if your business will expand at some point in the future, or you need a bit more flexibility or greater control, Voip Phone Number or Voice Over Internet Phone (VoIP) may be the better option. By choosing hosted phone systems you will ensure your employees call all over the world without any issues. It will cost you significantly lower than the calls without it. A huge number of companies provide VOIP services, so the price will vary and depend on your requirements and needs. An IP-PBX system will be a cost-effective investment in the long run that may be worth your consideration.

3. Test Your Internet Connection

If you’ve decided to go for an IP-PBX or cloud-based PBX system, then you’ll need to make sure your internet connection is both fast and reliable. Without this fundamental aspect of your telecommunications, calls will be of poor quality and may even drop in and out. Speed checkers are widely available for you to check your business’s internet quality, so it’s a good idea to make use of them to find out if your business’s internet connection will be able to meet the demands of your new phone system.

4. Priorities

It’s easy to get carried away with all the new technology that a cloud based VoIP system has, but will you use them, and how often? This is why that list we mentioned earlier is so important to have because after making it, you should divide it into essential and useful functions. This way, even though you may have a need on your list, it may not be as important as you think when it comes down to making a purchase, especially if you have a budget.

If your business operates at different times of the day, around the world, or has flexible working hours, meaning employees can work at different times in different places, a cloud based VoIP system may be a good choice.

5. Listen to Your Staff

Before you make a decision, it’s important that you speak to all of your employees that make or receive calls, via your telephone system. Let’s be honest, it makes no sense for them not to be consulted if they’re on the phones more than you and regularly for longer periods of time. You could send a short questionnaire around, get team leaders or supervisors to ask their teams for their feedback or even speak to different departments yourself, if you’ve got the time. If there are problems or suggestions for a new phone system, these will be the people who will know what’s working, what’s needed and what’s not worth using.

Your phone system is one of the most integral aspects of every business as it’s the foundation of communicating to people, internally as well as externally. It becomes even more important according to how your employees operate and when. You never want to lose a business call because of a poor phone system. For advanced voicemail solutions that ensure you never miss important calls, you can visit AccessDirect. Our suggestions to find a phone system to meet the needs of your business is a great starting point to making such an important decision. Once you’ve got that list, you’ll be on your way to improving how your business communicates, which is great for your staff and customers, alike.

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4 Proven Tips On How To Transfer Your Professional Skills To Another Job

July 7, 2021

The beginning of anything is usually the most challenging part, especially with changing careers. You may feel that the odds are against you when you switch careers or jobs.

Some jobs require different skills, while some need similar ones. It is much easier to transition to a job with a similar job description than one that requires you to do a completely different job.

If you have transferrable professional skills, then you can transfer them from one job to another, such as you find your dream compliance job. The following are tips to help you transfer your professional skills from one position to another:

Be Creative

Creativity is the ability to put known elements together in new ways. An excellent tip to transfer your professional skills to a new career is to be creative.

You will have to consider how you can apply the skills you currently have to your new position. It will not be easy, but others before you have done it, and with some creativity, you also can.

It will take creative and critical thinking to figure out how to apply your skills to the new field. The first step will be to assess your skills and break them down into minor components. You can then determine how to apply the skills to your new job in their smallest capacity.

Most people get wrong by taking the big picture, which can be overwhelming when considering a skills transfer. If you can transfer your skills bit by bit, they will soon fit perfectly into the bigger picture, which is your new job.

Apply Yourself

No matter how creative and ingenious you are, you will never be able to transfer your professional skills to your new position unless you apply yourself. Therefore, the next tip is actually to do the work and apply yourself.

It would be best if you first considered how you applied your skills to your former job. Sales skills are an excellent example in this regard. It would help if you thought about using those skills in your current role in sales. Transferring your skills will be much easier if you can know how they apply to your current position.

You will make mistakes at the beginning, which should not bother you. The trick is to keep applying yourself until your successes start being more than your mistakes.

Pretty soon, you will find yourself applying your skills to your new job effortlessly. As they say, ‘practice makes perfect.

Learn About Your New Job

If you want your professional skills to transfer to your new job, you must know what you are doing. To that end, you should learn as much as you can about your new career.

You will probably receive a job description when you apply for the job, but it will not include the day-to-day details of the position. It would help if you asked others at the organization and the human resource department about the position as many questions as possible.

Research about others who do the same job and find out precisely what the job entails. If you can reach out to them, do so and ask them questions about their personal opinions about the job and what they do to be successful at their jobs.

The clearer the picture you have about your new job description, the better you will transfer your professional skills to it. It would be best if you did not stop learning once you get the job. Keep educating yourself about the position and finding more ways to apply your skills to the job, which will increase your chances of success.

View It as An Avenue for Personal Development

The fact of the matter is that most people view their jobs only as an avenue to make money. If there were no compensation, they would not be caught dead doing it.

However, if you can view your new job as an avenue for personal development, you will have a much better time transferring your professional skills to the job. You will also have a much better time doing the job.

It is a proven fact that most employers find personal development an attractive quality in employees. Therefore, why not use the job as a personal development tool? It will make you better placed to learn about the job and be enthusiastic about meeting & overcoming the job’s challenges.

If you do so, you will end up becoming not only a valuable employee but also a better person.

In summary, if you want to transfer the professional skills you possess to a new job, you should be creative, apply yourself, learn about your new position and view it as an avenue for personal development. The transition may not be easy if you do, but it will have a higher chance of success.

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Understanding Labor laws. Everything you need to know

July 7, 2021

Employment labor laws are in place to ensure workers earn a minimum wage, are not overworked, and are compensated when they are injured. As well as this, they also eliminated child labor and work to prevent unsafe work conditions. There are general laws that cover the majority of workers’ rights overall, but each state has the option to add additional protective measures to these laws. A labor law attorney can protect you from legal problems. Legal issues can involve discrimination, wrongful termination, safety, and wages. All of these need to be considered before taking on employees. So here is a rundown of everything you need to know about labor laws.

At-Will

“At-Will” presumption is the law that makes the presumption that the relationship between the employer and employee is “at-will”. The employer or employee can end the employment for any reason. However, the presumption can be changed if both the employer and employee agree to promises or oral stipulations on how the employment will end. The terms of employment are usually laid out covering areas such as the length of employment and termination of the employee. In cases of disputes, the courts can decide on how these stipulations are determined

Rights in the workplace

Every employee or prospective employee has inviolable rights in the workplace. You cannot discriminate against a potential employee based on gender, race, or nationality. Also, when someone applies for a position, unless they are notified in writing beforehand, an employer cannot perform a background or credit check. Equally, employees have the right to work in an environment free from discrimination with fair compensation. They should also have a right to privacy in a form of storage lockers and private mail. If you’re unsure of exactly what you need to provide, consider hiring employment solicitors in Canterbury to be fully in tune with the law.

Laws you need to know

It is of every manager’s benefit to know a certain amount of laws regarding employment. Some of the most important ones are:

The civil acts right of 1964 prevents sexual harassment and discrimination in hiring and firing.
The minimum wage law is set by the Fair Labour Standards act but can be increased by individual states.
There is a limit on how much and what kind of work teenagers can do in their employment
The occupational safety and health act requires a business to be hazard-free.
The Pregnancy Discrimination act ensures that a job or promotion cannot be denied due to pregnancy, abortion, or childbirth.
There can be no age discrimination against applicants over the age of 40 due to the protection of the Age Discrimination in Employment Act.
Equal pay is required for both male and female employees who have the same skillset and responsibilities

These are but a few of the labor laws that you need to know. There are so many more but you need to make sure that you cover yourself and your business to ensure that you do not get into trouble down the line.

Labor Laws

When setting up a business it can be tricky to know what are the processes that should be followed and how to cover yourself so that you are not in trouble. There are plenty of ways to do this but one of the safest ways is to look into hiring a labor employment law.

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What is a Digital Factory?

July 7, 2021

Making any big decisions for your business comes with some level of risk. What if you try a new process and it backfires? What if these advances cause you to hurt your business rather than help it? Especially in a well-oiled machine like a factory floor, the smallest changes can cause a total upheaval for how things operate. However, there is a way to test out these changes and services without taking big risks on your product line. These solutions center around digitization.

By creating a digital model of your factory, you can implement changes and test out new technology for your production process in a completely safe way. Use a digital twin instead of making changes on the physical elements themselves. This way, you’ll be able to find the best practices and understand analytics in a controlled way. Digital factories can make a big difference in the future of your manufacturing enterprise. Here are some extra tips and tricks to understand about a digital factory.

Defining a Digital Factory

First, it’s important to ask the question what is a digital factory? Digital factory is actually a broad term for a number of different digital models that all help you review and preview aspects of a physical factory. The manufacturing process has many steps and automation elements, so if you change one thing, it could cause a butterfly effect that impacts the rest of your industrial applications. It’s important to know how everything is working and operating so you can continuously be improving and maintaining your needs. Your digital factory will have a number of different models and management systems that are completely integrated to get you the full picture of your warehouse or factory.

What are the benefits of this model?

The main benefit of data factories is the freedom to change and edit digital technology rather than physical supply chains. You can test comprehensive planning, continue evaluating your systems, and predict better operations for your new products. This offers reliability for your business objectives and will allow you to implement better practices overall.

Find the best ways to implement your digital factory.

If you are considering a commitment to the digital factory model, you’ll need to know how to implement these systems. This is not a quick and easy one-time fix. You’ll need to keep up with your software as a part of a full digital transformation. Start by investing in the software programs and installing them into your daily operations. One of the most difficult steps may be getting your staff involved. This can mean a big change for them on the factory floor, so be sure they’re ready to work together and implement better strategies in the system and on the assembly line.

Keep your goals clear and precise

Digital technology has aided so many different industries in a multitude of ways. As you start to implement your digital factory, keep your goals focused and clear. All the work should be pointed in the same direction to help you reach your ultimate mission and make a bigger impact with your technology.

Be aware of any challenges with this digital transformation

Know that there can be some challenges involved with a digital factory. For one, you have data coming from a variety of different sectors and areas. While integration efforts can help with this, it can also cause problems when you’re trying to keep everything streamlined. You’ll also need to personalize your digital factories for your specific industry needs. Make sure you have the right technology and implementations that everyone is on board with. Search your many options to be sure your technology has the reliability you’re looking for.

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Casino Software Developers and Their Benefits

July 7, 2021

Have you ever wondered what drives our world? I mean, what makes people and companies become better? Well, it’s all due to her majesty, the business competition. Hence, there’s no wonder that the slot game developers started taking more care of the players, giving them the opportunity to choose among a massive selection of games with progressive jackpots, 3d graphics, live dealer, sports betting software, etc. That is, software developers want you to feel like you’re in Las Vegas while playing your favorite games online on your smartphone. We, the customers, feel good about competition, right? It makes every company run better to deliver the results directly to us, thus ensuring our loyalty and trust.

Yet, while the number of reputable online gambling software developers has skyrocketed recently, it needs acknowledging that some players, even those that have already played a lot, find it hard to choose the one they need. It does not matter whether you want real and large bets, a live dealer, or video poker, today’s developers have it all. So, today, we are going to talk about the benefits the best gambling developers offer, so you could choose the one you like the most.

Popular Casino Software Providers

When it comes to talking about popular casino providers, there is a need to acknowledge that nowadays they come in abundance as everyone wants to make the list of the best casino software providers. However, software is not something that’s made easily. It requires a lot of time and effort to be developed properly. For example, this review of a decent $2 deposit casino that meets all the player’s needs shows that it is not that easy to develop one, as it requires a developer to tick a lot of boxes on its way to success. So, without a doubt, let’s move on to the list of benefits offered by each of the suppliers.

Real Time Gaming

The importance of online casino software cannot be overestimated, as the quality of software that you play with can impact your gaming experience a lot. Therefore, Real Time Gaming do everything they can to show that gambling is good when it runs on an appropriate platform from reliable casino software providers. At AussieBestCasinos you can read reviews of the many RTG Casinos that offer the best games to their customers. Among the pivotal benefits offered are:

US-customers friendliness;
A mammoth game selection;
Nearly 10 blackjack options;
More than 10 poker variants;
The variety of games grows exponentially.

Playtech

When playing the PlayTech games, it seems like every casino using the software from this provider is a decent one. Usually, they offer many different games, and for a number of reasons. The benefits that a player gets to experience while playing at an online Playtech casino are impressive:

Working with established operators, like Bet365, Betfair, Sky, and William Hill.
Lots of licensed and Marvel Comics-themed slots.
A plethora of live dealer games.
A refined image of a big and reliable casino.

Microgaming

There are a lot of interesting topics and themes when it comes to developing a casino game. Microgaming is, probably, one of the best software providers in the gambling industry. He certainly knows what is important for players who are just starting out and what the most popular casinos need. For example, the online Casino Classic, a review of which you can read at LeafletCasino, offers many different games from them, and customers are very happy with it. Therefore, every player who likes casino games can expect Microgaming to:

Be exclusively selective regarding the casinos they tend to work with.
Be the Mega Moolah developer – the world’s most popular game with a progressive jackpot.
Provide independent software audits, ensuring the top-notch quality and security.
An incredibly massive selection of games running on a super powered software.
The number of licensed slot games impresses.

Net Entertainment

Net Entertainment is one of the most trusted casino game developers in the gambling industry. Their rich history and image has been backed by a number of reputable casinos. When you’re looking for splending games to play, come to Net Entertainment:

There is a huge selection of games to choose from.
Licensed slots from the best developers with a plethora of games topics to choose from.
They are accessible in each and every US state.
They cooperate with some of the best casinos, including Betway, 888, LeoVegas, etc.

International Gaming Technology

The International Gaming Technology software provider is your pick in one single situation. If you’re looking for the best casino games, this is your shot.

This provider has been in the business for years. This factor matters a lot.
Playing games offline is not a problem with IGT.
Licensed games, such as Family Guy, CSI, Wheel of Fortune, etc.

Amaya Gaming

Part of the Stars Group, Amaya Gaming specializes in delivering top-notch gaming experiences. Their online gambling software is being developed in accordance with all the legal and tech requirements, called to deliver the very best industry standard.

They offer a wide selection of games to play and win big time.
Part of the Stars Group, one of the most trusted developers and providers in the market.
An online gambling software provider will have extensive experience in catering to the needs of those.

WMS (Williams Interactive)

Whenever it comes to playing the online games delivered by Williams Interactive, you get a feeling like the importance of casino software providers does actually mean a lot, and the WMS team understands this fact like nobody else does. If you are a WMS player, get yourself ready for some exquisite online casino gaming experience.

A great number of licensed slot games running on duly-developed software, including Monopoly, Bruce Lee, and Star Trek.
With WMS, you can get an offline gaming experience, powered by software delivered on purpose. Williams Interactive operated in the proper brick-and-mortar casinos before moving online, so they know how to deliver some good time.
You can find a great selection of table games at WMS, including video poker, roulette, etc.

Evolution Gaming

When it comes to big time gaming, Evolution Gaming is your cup of tea, make no doubts about it. This is one of the online casino games software providers who offer who knows how to deliver exceptional online game experience. When playing with Evolution Gaming, buckle up as you’re about to learn about:

Games VIP studios for high rollers and betters.
An incredible selection of live dealer games.
Their software supports live dealer games on mobile casino platforms.
Casino dealers come from a variety of backgrounds, speaking a myriad of languages.
Their casinos tend to take proper care of their image, thus providing the players with the best online gaming experience based on the rules of fair play.

Betsoft

If you want to learn what online gambling with a refined casino software means, make sure to visit online casinos that use the Betsoft software, as this is nothing else but a masterpiece of casino software. One of the very best and trusted casino software providers, Betsoft offers:

An extensive selection of table and video games to plunge into.
Some of the best slots, including 3D slots, which are even more than fun to play.
The online casinos powered by Betsoft software are available to Americans.
A casino running on Betsoft is available on a number of platforms, including Windows, Blackberry, etc.

Conclusion

It seems like regardless of the industry, software providers do matter, especially when it comes to talking about a casino. The online gambling industry develops at an immense pace, leaving no room for mistakes and loitering. All developers are now trying to meet the customers’ requirements, as otherwise there will be someone else eager to substitute them in the market. The providers are copious and they all boast their benefits. Yet, not all of them are truthful. Hopefully, our article will help you choose your games provider and play with joy and no remorse.

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A Guide to Income and Asset Verification for a Home Loan Application

July 7, 2021

There are many stages in the process of buying a home and you must successfully go through each one before you are allowed to purchase a property. As most people know one of the main barriers for buyers is capital. Evidently, without money, you cannot buy a property. However, to support you with the purchase most people can get a mortgage or home loan in Rolleston, which is the only way for many individuals to be able to afford a new property.

Despite the complexities of the mortgage process, the effort is worthwhile. A home is perhaps the best investment for your retirement. You can bequeath it to your loved ones as a part of your estate plan. Don’t worry about owning multiple properties as estate planning software can help simplify the probate process. The more you can pass onto the next generation, the better!

Besides estate planning, mortgage procurement is a step most buyers worry about. During the stage where you apply for a home loan application, the mortgage lender will need to verify your income and any assets you may owe to determine how much you can afford as well as how much interest you should be charged on your loan. This may be a bit overwhelming and make you feel that it will make the process more difficult, but this benefits you as it will ensure that you are making an investment you can afford in the long run. This article will provide you with a guide to income and asset verification for a home loan application so that you know what to expect during this stage as well as get yourself ready with the documents to simplify the process.

What is an Asset Statement?

An asset statement is essentially a document that describes your net worth and assets that you own in a comprehensive manner. A verification of your assets and income is a requirement whenever you apply for a mortgage so that this can be approved. This is an important step of the home buying process as it lets the lender know that you can afford the mortgage.

What Assets Do I Need to Disclose on My Application?

An asset is basically a type of item of economic value, which the owner can turn into cash. An example of assets include investment properties, savings accounts and jewellery. There are two types of assets, including liquid and non-liquid. Cash and savings accounts are liquid assets, whilst cars, businesses and homes are seen as non-liquid as you can turn them into cash as quickly. During your application process, lenders will want to ensure that you have enough liquid assets as a way to make your mortgage payments if anything happens to your main source of income.

What is Verification of Income and How Does it Relate to Asset Verification?

Even though your income is not necessarily recognised as an asset, it is fundamental to your financial stability and you will need to verify this to support your mortgage application. When a lender requests an income verification, they are assessing whether you have the financial means to meet your monthly mortgage payments to ensure that you do not borrow more than you are able to repay.

How to Get Asset Statements?

In most cases, obtaining asset statements is fairly simple. You can request the appropriate documents to evidence your finances from your bank, employer or broker. Some documents required include a statement of annual or monthly salary (depending on lender’s request), statement or checking and savings accounts as well as any brokerage statements. This will provide you with the evidence you need for your liquid assets. The experts at Mr Pay Stubs suggest that this process can be slightly more difficult if you are a self-employed business owner – in which case you may benefit from utilizing an appropriate website to generate your paychecks and received income. If you own any non-liquid assets, you will have to demonstrate documentation from when you purchased the asset to evidence that you are the legal owner.

How to Prepare my Asset Statements?

Ensuring that you have your finances properly organised is essential for your mortgage to be approved, not just on the day of request but also during the months leading up to this. The lender will investigate your finances background deeply, therefore having everything in order is crucial to increase your chances of getting a mortgage approved. A few months before you seek approval for a mortgage, make sure that you have the required savings in your account. Lenders will want to see that you have had the savings for some time (generally, a few months). Moreover, you should not let your checking account get into overdraft as this is seen as a major red flag by lenders. Essentially, you should present yourself as a very financially stable individual to the lenders for a few months before you can get approved for a home loan application.

When you want to buy a process, having your income and assets verified is essential so that you are approved for a mortgage. Having an understanding of what this involves will help you significantly, therefore make sure you read the information discussed above so that you can get familiar with this process.

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How the Adoption of Immersive Technologies Can Transform the Financial Industry Today

July 7, 2021

Artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and machine learning (ML) are transforming businesses. Companies operating in the 21st century are adopting such for various reasons.

Some of the major reasons would be higher efficiency. There is also greater reliability in the processes. And, that’s not all; the technologies are beneficial when it comes to better customer service. There is higher personalization and engagement that helps with customer retention.

The financial industry realizes great benefits with the use of such technologies. The modern customer is tech-savvy and knows the benefits of the use of technology. They are more demanding of quick and seamless service from wherever they are.

Gone are the days of lining up in banking halls to get service. Now, the internet and mobile platforms bring convenience at your point of need. Immersive technologies like AR and VR are significant game-changers.

Our article explores how immersive technologies can transform the financial industry today.

Immersive Technologies to Note

First, let’s take a peek into the leading immersive technologies.

Virtual reality (VR) uses special equipment like VR headsets. Such technologies immerse users into the virtual world. It does this by blocking out the physical world. Imagine exploring the pyramids in Egypt from the comfort of your living room.
Augmented reality (AR) superimposes virtual elements into the real world. It enhances or augments the experience without total immersion into another world. You may have come across the IKEA AR technology that allows you to design a room using your smartphone. You can pick and place furniture within a virtual room to see how it will look in the end.
Mixed reality (MR) combines both AR and VR. A good example would be the Microsoft Halolens.

So how can such technologies transform the financial industry?

1. Better Customer Experiences

Providing an excellent customer experience is a key concern for financial institutions. Companies can create apps that respond to a specific customer’s needs. It allows for better service personalization using insights from data.

Information becomes easier to understand with immersive Technologies. When there is less complexity, the institutions can expect better interaction from customers.

Companies like MasterCard are even bringing in gamification for virtual reality payments. They have entered a partnership with Wearality, an Orlando VR glasses designer. Anyone using the VR golf experience can identify goods. They can then buy without exiting the virtual world.

Standard Chartered has the AR Breeze Living mobile application. It provides a social network for sharing offers or coupons on partner platforms. The bank benefits when the customers use the instant payment options.

The immersive app is a powerful marketing tool for the bank. It provides a fantastic way to attract new customers. Their marketers do not need to be aggressive about the targeting.

Deutsche Bank is taking marketing and customer experience to a whole new level. They have a magic mirror in Alexa hall that transports customers to virtual worlds.

You can, for example, interact with a unicorn or play games. It provides a powerful way to ensure audiences remember you for a very long time.

2. Better Efficiency in Processes

The forecast for AR and VR in business operations is very positive. Research shows that 82% of companies realize positive outcomes with immersive technologies. The companies experience higher productivity, efficiency, and better security in their processes.

More established financial companies realize the need to adapt. Fintech startup institutions are giving them a run for their money. Such new businesses have the technical know-how. Such may not exist in the more traditional financial institutions.

The older companies must cater to an audience that needs them to step into the 21st century. Only then can they offer a good experience. The result is better customer engagement with products and services.

3. Remote Working Capabilities

The corona pandemic saw many people adopt remote working. Fintech companies have been at the forefront of innovation. They are using immersive experiences in unique ways.

Citibank, for example, has a holographic workstation. It incorporates Microsoft Halolens to create financial visualizations. You would find the same on a typical trader’s desk. Users get real-time financial records and data through holograms.

It allows traders to track and check stock indices. Such insights provide information that leads to sound financial decisions. Further, sharing and collaboration are easy amongst team members. The trader can opt for voice commands resulting in higher efficiency.

4. Immersive Data Visualization for Financial Institutions

Financial institutions deal with big data every single day. Proper handling of such is critical for the proper running of the organization. Some Fintech companies are using immersive technologies for data visualization and analysis.

Fidelity Investment has StockCity, which is a virtual world for investors and traders. Data analysis is easy with 3D format presentations. It allows for quick analysis and comprehension of the data.

The immersive experience is possible with the use of Oculus Rift VR headsets. Getting insights is easy with some of the elements in the virtual world. A sunny day, for example, means the market condition is good.

The driving force for the company was to appeal to the younger demographic. Such customers have grown up using social media and video games. They would be more accepting of the immersive experiences. It would be hard to achieve the same with having to read white papers.

5. Immersive Experiences for Financial Education

The reality is companies must adapt technologies to continue to remain relevant. But, such can be confusing for customers and employees. The use of immersive technologies is a fantastic solution for financial education.

We have already seen their use in areas like health care. VR is now a go-to solution for medical students. They can perform surgeries or learn about diseases without needing a cadaver.

And now, finance students can navigate 3D presentations of numbers and charts. It helps reduce the complexity of the processes while making learning more fun.

Final Thoughts

Immersive technologies have and will continue to transform the financial industry. Customers get better experiences with the products and services. There is greater personalization resulting in better engagement.

The institutions are also using the technologies in different areas. These include marketing, data management, and financial education. 21st-century customers are tech-savvy and demand that service providers keep up.

Even the more traditional companies must adopt the use of such technologies. It is the only way to continue to remain relevant. It is, indeed an exciting space to watch as Fintech companies innovate.

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Role of Interest Rates in Consumer Debt

July 7, 2021

Paying off debt without interest rates would be simple. Owe $6,000, pay $500 a month, and the debt is gone in a year. Unfortunately, it doesn’t work that way. Credit card companies and lenders charge interest. That’s how they make their money, and there’s no way around it.

When the subject of consolidating credit card debt comes up, it’s all about interest rates. The average credit card interest rate as of June 2021, according to creditcard.com, was 16.13%. The primary goal of consolidation is to get that interest rate down.

The Financial Impact of Credit Card Interest Rates

Let’s assume for a moment that you have a $10,000 credit card balance with an interest rate of 15%. That’s $1,500 a year that you’re paying in interest alone, $125 per month when you break it down. None of that money is applied to your principal when you make payment.

What’s your minimum monthly payment? Let’s say it’s $400 a month. Subtract the $125 in interest from that and only $275 is going toward the balance. Meanwhile, additional interest is added next month for the remaining balance owed. Are you starting to get the picture?

If you do the math, a $10,000 balance with a 15% interest rate will take you 147 months to pay off if you just make minimum payments of $400 a month. That’s 12 years and three months. You’ll pay a total of $4,452.40 in interest during that time.

Interest Rates for Debt Consolidation Loans

Debt consolidation loans for consumers with average credit scores (640-679) have interest rates that range anywhere from 7% to 30%, depending on the lender. Those with excellent credit can get rates in the 4-5% range. For this exercise, we’re going to assume you’re average and will pay 10%.

One of the nice features of a consolidation loan is that you can choose the time frame to pay off your debt. Your payments will be set accordingly. For instance, a five-year loan for $10,000 at 10% interest will cost you $212.47 a month. That’s a big drop from $400.

It gets better. The total interest you’ll pay over the five years is $2,748.23, saving you $1,700 and seven years of extra payments. That’s a year’s worth of car payments or a nice vacation for you and that special someone. Just try not to use your credit card while you’re there.

Interest Rates in Debt Settlement Offers

A debt settlement agreement is when you offer the credit card company less than the actual balance owed. Keep in mind that when you make this offer, a good portion of the balance is going to be interest owed. Credit card companies will negotiate for that portion.

Before trying to negotiate a settlement, try to find an introductory offer from another credit card company for a balance transfer card. Balance transfer credit cards can typically lower your interest rate, at least for a short period of time. Some cards offer 0% interest for the first year or so, as long as you have good credit.

Going forward, avoid credit cards with high interest rates. Get in the habit of using your debit card whenever possible. There’s no interest rate on that card. You could also, dare we say it, pay cash occasionally. That’s still an option in some places, and can be effective in managing your debt because you’ll physically see your money disappear when you spend it.

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About the Author

Kevin Flynn is a former fintech coach and financial services professional. When not on the golf course, he can be found traveling with his wife or spending time with their eight wonderful grandchildren and two cats.

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