Caliber, a leading stakeholder tracking provider, has released its 2023 Financial Services Reputation Report, offering a comprehensive global snapshot of public perception towards financial institutions. The report, based on a survey of over 10,000 consumers worldwide between January and May, highlights important trends and changes compared to the previous survey conducted in 2021.
Key findings from the 2023 report include:
High churn risk: Globally, approximately 23% of respondents express a likelihood of switching banks within the next 12 months. In the UK, where over 1,600 individuals were surveyed, this figure stands at 22%, representing an 11% decrease from 2021.
Reasons for switching: The desire to switch is primarily driven by perceived high bank charges, with 31% of respondents worldwide considering fees to be too high. Customers also express concerns that banks may not always act in their best interests.
Rise of new entrants: While overall engagement with financial services providers has declined in recent years, the fintech sector is viewed as more trustworthy than traditional banking, although the gap has narrowed since 2021. In the UK, the gap between the most reputable bank and the most reputable fintech company has decreased from 8 to 2 points.
Declining support for financial services: Public support for the financial sector has declined since 2021, with only a third of respondents worldwide advocating for, recommending, or considering working for financial services companies. The percentage of people willing to buy products and services from the largest banks globally has also decreased from 37% to 34%.
Trust and perception of fintech: Consumers increasingly trust emerging brands, including fintech companies, more than traditional banks. While traditional banks are more widely recognised, they have more negative associations compared to fintech. 15% of respondents view the banking industry negatively, compared to just 2% for fintech.
Importance of societal contribution: Consumers prioritise ethics, access to finance, and responsible investments when selecting a financial services provider. Negative associations with the industry stem from concerns about values, fees, complexity, and perceived lack of societal contribution.
Shahar Silbershatz, CEO and co-founder of Caliber, highlights the need for financial institutions to address these trends: “While traditional banks remain a safe harbor for customers in the current macroeconomic climate, they shouldn’t take that for granted. The data clearly shows that the fintech sector is quickly growing in popularity, and customers are increasingly willing to explore alternatives to traditional financial services.”
The report emphasises the importance for banks to adapt to changing customer preferences and prioritise customer-centric practices and social responsibility.
To access the full report findings, click here. The complete Global Top 101 brands list can be found here.
For more information about Caliber and its stakeholder tracking solutions, visit www.groupcaliber.com.
Over the years, escrow has emerged as the go-to payment arrangement for businesses, especially startups. This type of payment arrangement benefits both the seller as well as the buyer. However, the escrow account provider is another party involved (not middlemen) in such arrangements.
The procedure entails storing money with an impartial third party trusted to release it only once both parties have completed their contractual responsibilities. However, your risk of losing funds disappears with a reputed and experienced escrow provider like Uniscrow.
Your business funds will always remain secure, with funds stored in smart contracts and encrypted with private keys. So, create your escrow account with Uniscrow and enjoy the following benefits for your business:
No Risk |Smart Contract Fund Storage & Segregation
Every business owner runs the danger of having money on hand that could be fictitious or stolen. Using a business escrow account lets you store funds in a secure smart contract with private key encryption to eliminate any chance of fraud.
This is crucial when dealing with customers who might offer you a valuable item on consignment. Employing business escrow services will allow you to confirm that the item has been delivered and is authentic before disbursing the money.
Enhanced Effectiveness
Escrow can speed up deals by managing documentation and interparty communication. This may allow the parties to concentrate on other facets of the deal, such as discussing the terms or getting ready for closure. By keeping money or papers in a safe place until all transaction requirements have been satisfied, escrow can also lower the possibility of fraud or non-payment.
Saves Effort, Resources, And Time
Every firm values time above anything else, and business escrow accounts can hasten the escrow-setting procedure. By leveraging corporate escrow services, you may free up precious time for other duties crucial to your business. That’s because your time and energy are mostly spent on documentation and procedures.
Escrow services can be used to retain funds for practically any kind of transaction, even though real estate transactions are where they are most frequently used. Since they drastically minimize paperwork while simplifying the entire escrow procedure, escrow services are particularly well-liked in the blockchain and real estate industry.
Boosts Trust Between Buyer & Seller
Platforms often offer escrow services that can serve the purpose of neutral third parties. Business partners may become more trusting due to their assurance that their assets are secure.
Escrow services may assist in protecting organizations from fraud by delaying payments until an agreement’s requirements have been fulfilled. By doing this, businesses may be shielded against fraud and financial loss.
Establish a Verifiable Record
Whenever a transaction takes place between you and a client, your business escrow account will record it. This can be particularly helpful if you’re selling expensive goods. A record is frequently needed in transactions of this nature. Proving your ownership of the object or your right to hold the funds might help you defend yourself against fraud.
Conclusion
A digital business escrow account could assist your company in expanding and succeeding more by reducing the risk involved in payment arrangements. Opening and getting started with escrow becomes easier when you rely on the best digital escrow platform – Uniscrow! Kickstart the process today!
Contribution to victory: how Ukrainian politician and investor Vadym Stolar helps the state and people during the war
Current socio-economic condition of Ukraine
A year and a half after the large-scale invasion of Ukraine, Russia continues to terrorize the Ukrainian civilian population, destroying peaceful cities and infrastructure. Vadym Stolar, a Ukrainian politician, takes a direct part in solving the humanitarian disaster in the country and calls to join this process.
According to official data, 8.6 million citizens were forced to go abroad since the beginning of the war. More than 5 million people became forced migrants, left without housing and, unfortunately, most of them – without work.
Ukraine’s economy is suffering terrible losses. GDP according to the results of 2022 fell by 29.1%. At the same time, the unemployment rate in Ukraine last year was 25-30%, which is almost three times higher than in 2021.
Reconstruction of Ukraine after the war, repair of energy facilities, roads, and bridges damaged by Russian shelling, according to World Bank estimates, will cost 411 billion dollars. And we have to look at things soberly, realizing that as long as the war continues, this amount will only grow.
How Vadym Stolar helps people during the war
Even in such difficult times, there are citizens in Ukraine who are ready to take responsibility and help other people. Charitable foundations, volunteer groups and associations are functioning. One of these foundations was founded by Vadym Stolar.
“Our family has been involved in charity for more than 10 years. The COVID-19 pandemic became a powerful impetus for the stimulation of charitable activities. It was during this period – in March 2020 – that my family and I founded the Vadym Stolar Charitable Foundation and helped the population and medical institutions in providing the necessary equipment and medicines, ventilators, and personal protective equipment. And with the beginning of Russian aggression, already in February 2022, our Foundation completely changed the direction of activity – and began to master new areas for itself”, – said Vadym Stolar.
From the beginning, the charity Foundation focused on two main directions: helping the military protecting Ukraine from the invaders, and helping civilians who suffered from hostilities.
In particular, for the needs of the army, Vadym Stolar, through his Foundation, transferred a significant amount of ammunition and equipment, including high-tech equipment. Namely:
37,110 units of military equipment, tools and clothing,
30,240 units of medicines,
380 units of quadcopters, anti-drone systems, thermal imagers, video cameras, motor boats and other high-tech equipment and machinery,
40 units of specialized SUVs and armored cars.
In addition, the Foundation provides military families with their own housing and implements a number of social projects for them.
Immediately after the explosion of the Kakhovka Hydroelectric Power Station, the Vadym Stolar Foundation began the purchase and transfer of motor boats to the units involved in the rescue operation.
And within the framework of programs to support the civilian population, the Foundation’s volunteers brought drinking water and food to the south of Ukraine, where the destruction of the HPP caused a real catastrophe, and provided the victims with the necessary assistance.
“Civilians and their problems have also been the focus of our Foundation since the beginning of open Russian aggression. And if at first it was mainly hot meals, food and medicine, then later the range of assistance expanded due to various social and humanitarian projects. Because talking with people, we realized that they need not only physical, but also emotional support, relaxation, and psychological help,” Vadym Stolar emphasized.
The largest project is the psycho-emotional rehabilitation program “Recover”, the 4th season of which was already held in the spring. During the week, families who lost one of their parents in the war, as well as those who lost their homes, had the opportunity to undergo a psychological rehabilitation program free of charge. A total of 700 Ukrainians have already had the opportunity to undergo such rehabilitation in the Ukrainian Carpathians, which are located in the west of the country and are currently one of its safest regions.
In addition, projects of the Vadym Stolar Foundation, such as “Sport in the Neighborhood”, which engages citizens of Kyiv to participate in outdoor sports under the supervision of qualified trainers, are aimed at emotional support of Ukrainians of all ages. Football tournament for children of Kyiv region, which the Foundation held last year and which was preceded by training of IDP children in a professional environment. Excursions in Kyiv, where forced migrants get to know the history and beauty of the capital of Ukraine.
Among other social projects: the organization of holidays and gifts for children, as well as a program of psychological support from certified specialists.
Since the beginning of the full-scale war, Vadym Stolar, together with the Foundation, has provided the population with:
613,980 portions of hot meals
284,300 food sets
117,220 units of household appliances, medicines and hygiene products
Also in April of this year, the Vadym Stolar Foundation launched a grant program for the implementation of projects to support the military and Ukrainians affected by the war.
“For the first time, the Foundation implemented such a project – a competition among public organizations to receive a grant. Our goal was to provide financial support to associations able to help wounded fighters and civilians affected by war. The idea is to scale up activities aimed at supporting Ukrainians through cooperation with other charitable organizations. Because we understand that there are many foundations in Ukraine with already developed connections, logistics, and a volunteer team – and from our side, we are ready to extend a helping hand to them and support them in their activities. After launching the grant program and receiving more than 100 applications, we concluded that most of the projects submitted to the competition are aimed at rehabilitating the military and providing food aid to citizens. In the end, the winners were projects related to the recovery of military personnel after injury. They were the ones who received UAH 1,000,000 from the Foundation,” Vadym Stolar noted.
It is worth mentioning that, among other things, he is one of the key benefactors of the international “Future for Ukraine” Foundation, which helps victims of the war, in particular, takes care of families who had to leave Ukraine with their children, and is also a patron of the program “Prosthetics of military personnel abroad”, under which already eight defenders of Ukraine have passed the prosthetics and rehabilitation program with complex cases of amputation. Prosthetics of the military takes place in Washington, USA, and in Malta.
In general, since the beginning of the large-scale invasion of Russia, according to published reports, the Vadym Stolar Charitable Foundation, together with its founder, has directed 9.5 million euros to charity.
“Work for the future – recovery of Ukraine”, – Vadym Stolar
It is worth noting that Vadym Stolar is known not only as a philanthropist, but also as a politician and a successful investor. Only during the last war year, he paid taxes in the amount of UAH 24.5 million, thus supporting the financial system of the warring country.
As a People’s Deputy, Vadym Stolar works in the Verkhovna Rada of Ukraine as a member of the “Recovery of Ukraine” parliamentary group.
In particular, he is one of the authors of the draft bill aimed at supporting graduates of educational institutions from among orphans and children deprived of parental care. And also – the draft bill on granting the status of “child of war” to the relevant children who lived or live in the areas of hostilities.
Separately, the parliamentarian mentions a draft bill designed to cancel charges for utilities without actually providing them – and thus restore justice for Ukrainians who were forced to leave their homes to save their lives.
“My colleagues and I believe in the victory of Ukraine and understand that the most responsible and difficult task after that will be the post-war reconstruction of the country mutilated by the enemy. We united to help people together now and lay a solid foundation for rebuilding after our Victory,” Vadym Stolar emphasized.
Walt Disney is a legendary figure whose impact on the entertainment industry is immeasurable. Beyond his iconic characters and theme parks, Disney’s success can be attributed to his exceptional entrepreneurial skills. This article aims to delve into the key traits and strategies that contributed to Disney’s achievements, offering insights into his visionary thinking, persistence, risk-taking, leadership, branding, and social responsibility.
Visionary Thinking: The Power of Imagination
Walt Disney possessed a remarkable ability to envision the future of entertainment. His imagination knew no bounds as he dreamed up captivating stories, characters, and immersive experiences. Disney’s unique vision led to the creation of timeless classics like “Snow White and the Seven Dwarfs” and “Fantasia,” setting new standards in animation and storytelling. His commitment to pushing creative boundaries and challenging the status quo revolutionized the industry.
Persistence and Resilience: Overcoming Challenges
Disney’s journey was fraught with setbacks and failures, but he never let them deter him from his goals. From the bankruptcy of his first animation studio to the initial struggles of Disneyland, Disney faced numerous obstacles along the way. However, his unwavering determination and resilience propelled him forward. Disney’s ability to learn from his mistakes, adapt to changing circumstances, and persist in the face of adversity ultimately led to his remarkable success.
Risk-Taking and Innovation: Pushing Boundaries
A defining characteristic of Disney’s entrepreneurial spirit was his willingness to take calculated risks. He was not afraid to invest significant resources, time, and effort into ambitious projects. The creation of Disneyland, the first-ever theme park of its kind, was a monumental risk that paid off tremendously. Disney’s relentless pursuit of innovation extended to animation techniques, technological advancements, and the expansion of the Disney brand into television and other mediums.
Leadership and Team Building: Fostering Creativity and Collaboration
Disney understood the importance of assembling a talented and dedicated team. He fostered an environment that nurtured creativity and collaboration, empowering his animators and Imagineers to bring their ideas to life. Disney’s leadership style was characterized by his ability to inspire and motivate others, fostering a shared vision and sense of purpose. His strong leadership laid the foundation for the enduring success of the Disney company.
Branding and Marketing: Creating an Enduring Legacy
Disney was a master of branding and marketing, creating a brand identity that remains iconic to this day. Through memorable characters, captivating storytelling, and immersive experiences, Disney established an emotional connection with audiences worldwide. His innovative marketing strategies, such as the “happiest place on earth” slogan and the use of merchandise, further solidified the Disney brand’s place in popular culture.
Community Engagement and Social Responsibility
Beyond his entrepreneurial endeavors, Walt Disney was deeply committed to community engagement and social responsibility. He recognized the importance of giving back and making a positive impact on society. Through philanthropic initiatives, educational programs, and environmental efforts, Disney’s commitment to corporate social responsibility remains an integral part of the company’s ethos.
Lessons for Aspiring Entrepreneurs
Aspiring entrepreneurs can draw valuable lessons from Walt Disney’s entrepreneurial journey. Disney’s story teaches us the importance of embracing our imagination, persevering through challenges, taking calculated risks, fostering creativity and collaboration, building a strong brand, and making a positive impact on society. By applying Disney’s principles to their own entrepreneurial ventures, individuals can unlock their own magic and leave a lasting legacy.
Conclusion
Walt Disney’s entrepreneurial skills played a pivotal role in shaping the entertainment industry as we know it today. Through his visionary thinking, persistence, risk-taking, leadership, branding, and social responsibility, Disney left an indelible mark on the world. His legacy serves as an inspiration for aspiring entrepreneurs to embrace their own entrepreneurial potential, dream big, and create their own magic. By following in Disney’s footsteps, we can unlock our own entrepreneurial success and make a difference in the world.
IGT is the world leader in gambling. The company recently revealed that it is looking for a “strategic alternatives” for its Global Gaming and PlayDigital divisions – two of the company’s top-performing divisions over the past year – with the goal of creating “everlasting sustainable value.”
Analysis of strategic alternatives
The group’s global gaming revenue for the first quarter of 2023 increased by more than 21% year-on-year to $389 million. The revenue of the gambling and slot sites not on gamstop along with digital segments a year ago was $47 million and has grown to $55 million. The first three months of the year generated $23 million in net income for shareholders, with revenue up nearly 1% to just over $1.06 billion.
It would seem that the company is full of cash and has an increasingly powerful credit profile. From January 1, 2023 through the end of the first quarter, net debt fell from $5.15 billion to $5.12 billion as the company started the year with “significant cash flow generation and further improvement” in its credit profile.
This process will be slow and the first step will be to evaluate the best opportunities that can offer a real growth opportunity for the aforementioned divisions. Among the strategies that are expected to be considered are the following: sale, merger or spin-off, which could help to better retain and increase investment in these sectors of the company.
While a final decision has yet to be made, they have already begun planning a review of the alternatives that IGT has, and it has become clear that while the process may seem compelling in terms of results, they are not guaranteed.
Marco Sala explained how the changes work, which, in theory, are the basis of this new structure that will appear on the horizon:
“Over the past three years, IGT has invested in developing a long-term strategic approach by reorganizing its pivotal product verticals, monetizing minor assets, reducing structural costs and drastically boosting its credit profile.”
Current problems they face
In mid-2022, IGT’s annual revenue forced the company to make economic adjustments due to a 2% drop in revenue in the second quarter. The drop was due to the company’s external agent, which has always been difficult to predict: the performance of the lottery sector fell by 11% and heavily affected IGT.
The result was disastrous, with a 7% loss in 2022 operating profit alone. On the other hand, the lottery sector suffered 23%, and this is one of the main reasons for the restructuring, which could compensate for the losses of last year and find a plan of action in case a new problem arises.
Vince Sadusky, CEO of IGT, is confident that the strategies that will be proposed can be fruitful based on previous results:
“IGT is a global leader with extensive experience in lotteries, land games, e-gaming and sports betting. We remain focused on achieving our growth goals and multi-year goals set last year as we conduct this review and assessment of strategic alternatives.”
Undoubtedly, IGT is facing a serious problem that needs to be addressed in the best possible way. It is expected that in the coming months the result of the evaluation of proposals for the presentation of a program of actions that the company should take to compensate for the previous year’s losses will be announced.
A forecast to near future
IGT PlayDigital will bring its compelling portfolio to the growing US sports betting market with its PlaySports solution. IGT PlaySports and its skilled team of trading advisors is one of the most widely deployed B2B sports betting solutions in the US. The company will also showcase the award-winning CrystalFlex gaming and betting terminal and the high performance PeakBarTop cabinet with sports betting capabilities.
So ultimately, IGT can either sell their top assets (presumably at a premium) or spin them off (in which case they could get a higher share valuation after being released from the mediocre Global Lottery business performance) or…do nothing but is already doing.
Encouraged by management’s claim that the intrinsic value of the leading activities in the IGT market and the diversified cash flow profile are not currently taken into account in share price and they hope that any action by management will help push the share price even higher. Again, when you consider that IGT shares are trading at almost 26 times earnings today, but earnings are expected to rise by 19% or less withing the next coming years, IGT shares actually look pretty valued – even slightly overpriced.
Regardless of what your financial goals are, investing effectively is one of the most important steps for achieving a successful outcome.
With this in mind, one specific type of investment you should consider for your finances is Individual Savings Account (ISA) investments.
Read on to learn what ISA investments are and how they can help you reach your targets.
What are ISA investments?
ISA investments allow you to grow your savings in an account each year that shelters your money from tax.
For every tax year, you can contribute a certain amount of money to your ISAs that’s exempt from any income tax. This specific amount is determined by the ISA allowance of the current tax year.
For the 2023/2024 tax year, the ISA allowance is £20,000.
There are four different ISA types you can invest in each tax year – a cash ISA, lifetime ISA, stocks and shares ISA, and innovative finance ISA.
It’s important to know that you can only open one of each type of ISA each year, and your total allowance must be shared across all these investments.
Another thing to note here, is that your ISA allowance cannot be rolled over and resets at the beginning of each tax year.
How can you use ISAs to reach your financial goals?
There are many ways you can use ISA investments to achieve your financial ambitions, including things such as:
Grow your savings tax-efficiently
One of the main ways ISAs can help you achieve your goals is through the tax-free savings you can grow each year.
Whatever goals you might have, being able to access a sum of tax-free money can be a great benefit to reaching your targets.
For instance, if you’re growing your wealth for retirement, you can build up your ISA each year to withdraw a significant sum when you choose to retire.
Or, if you’re navigating a divorce, you can save money each year to help build wealth resilience and protection for your finances.
Create a financial plan
You can also create a financial plan to help direct your ISA investments more effectively towards your goals.
This plan will allow you to outline each of your future targets, so you can then implement the necessary steps to reach them.
As a result, you’ll have a clear set of steps to reach your goals with ISA investments. For instance, you can plan out how much and when you’ll contribute to your ISA each year, so you not only grow your wealth effectively but do so in a way that aligns with your financial situation.
The more extensive your plan, the more chance you’ll have of a successful financial outcome.
Cash ISAs, for instance, are a good place to save your money and shelter it from tax. With a stocks and shares ISA, this money is not just stored away, but invested in certain securities to potentially produce a profit.
Although this can present risk, it also allows you the chance to grow your savings tax-free – any growth made will be exempt from income or Capital Gains Tax.
Also, having different investments can help you balance your risk level better without having all your eggs in one basket, should the economic climate change, for example.
If you’re looking for more guidance on how to structure your ISA investments effectively, contact your modern wealth manager to start devising your own unique approach to your goals.
Please note, the value of your investments can go down as well as up.
Alexander Studhalter began his career as an entrepreneur when he was 25 years old. After the brother of the former FC Lucern president took over his parents’ business, he set out to modernize it. In other words, he received his entrepreneurial talent almost from the time he was a baby. Born in Lucerne, Switzerland, the young man developed a particular interest in the Swiss real estate market.
Having earned a federal certificate of proficiency in finance and accounting, he completed training as a business economist. The first place he went after his initial investments was Russia; he built up a fortune through private equity.
Studhalter is a visionary who manages 1.5 billion Swiss francs’ worth of assets according to his own statement (status as of October 2022). A multi-client family office accounts for about half of that amount, and it is responsible for the Studhalter International Group as well as third-party mandates. With over 30 years of experience in the real estate industry, Studhalter is a shrewd businessman. In an article in the German-language edition of Forbes, Alexander Studhalter says of the real estate market, “We aim to achieve a net return on invested capital of 6 to 8 percent after taxes.” He has, however, diversified his investments not only in real estate but also in audio-visual media. Examples include Auviso Audio Visual Solutions AG, Sport 1, and Constantin Film (both of which are part of the Highlight Event and Entertainment AG).
Studhalter brings many years of Private Equity to the table
Studhalter has many years of experience in private equity (PE).
In Russia, he built up his own capital through private equity. Among his main focuses is PE, to which he pays special attention. It is a form of investment that can be very lucrative for the investor. Private equity entails companies being purchased by investment partnerships before ultimately being sold by them. The investment funds are managed by private equity firms on behalf of institutional and accredited investors. Such asset classes are only accessible to investors with high equity levels. In 2007, Harvard Business Review called private equity a “strategic secret” for investors, despite the controversy that has been created by carried interest. Alexander Studhalter’s AUM (assets under management) in private equity amount to approximately 500 million Swiss francs. With regard to the asset class, he explains that “if the right fund is chosen, the benefits of private equity clearly outweigh its risks” and thus explicitly advocates this type of investment.
Know-how in PropTech and REIT
PropTech is another high-yield asset class that represents innovative and modern technology for many, including Alexander Studhalter. Real estate technology or “PropTech” is the term used to describe the widespread application of technology in the real estate market. This includes, for instance, home office technology, research, and analysis, as well as mobile applications. Technology is designed to assist in the buying, selling and management of assets in the real estate market. In many ways, it replaces stacks of paper and headaches from the past.
REIT (Real Estate Investment Trust) is an investment option also recommended by Studhalter. High returns make this a perfect option for protecting against rising inflation rates. What is REIT? REITs are companies that own or finance real estate. Investors often enjoy many benefits when investing in REITs. Among other things, the potential for steady, long-term capital appreciation.
Sustainable construction
Alexander Studhalter is committed to sustainable construction, an important building block for the future of the real estate industry, not only in Switzerland but also worldwide. Sustainability is about making sure that future generations will not be harmed by our actions. Sustainable construction is essential to minimize the negative impact on the environment, energy consumption, and the use of natural resources. At the moment climate change makes this a vital and much-needed construction method that deserves investment.
In addition to investing in future-proof companies, the founder of Studhalter International Group plans to involve his sons in the business. Throughout the years, the world of business has undergone radical changes, and Alexander Studhalter is always on the cutting edge. We are excited to see what the future has in store
Shared Ownership
For Alexander Studhalter, shared ownership is an investment-option well worth considering. Individuals without a home can purchase shares in newly constructed or resold properties through shared ownership.
If you cannot afford the initial deposit and mortgage payments for a house, you can purchase a home through the shared ownership program. This program is particularly suitable for:
First-time buyers
Former owners of a home who cannot afford a new one
Owners of a house who want to move and cannot afford a house that meets their needs
People who need to move after a failed relationship or due to other circumstances and cannot afford a house
People who already have a shared ownership property and want to move
At the end of the lease, the leaseholder can arrange an extension with their housing provider. Studhalter recommends engaging a lawyer who has expert experience in this area.
Foundation Aline holds a firm place in Alexander Studhalter’s heart
The successful philanthropist has participated in many charitable projects. However, in 2019, Studhalter suffered a hard setback with the death of his wife, Aline Studhalter, who was also his business partner.
In honor of his late wife, Alexander Studhalter and his two sons have founded the non-profit organization Foundation Aline, which supports a food bank in Senegal, a hearing implant for a two-year-old child, and mother-child aid in Switzerland, among other projects. Foundation Aline accepts applications from both private individuals and organizations.
As the popularity of cryptocurrencies continues to soar, more businesses are considering venturing into the crypto exchange market. Building a secure and reliable crypto exchange platform requires careful consideration of the technology stack. In this article, we will explore the factors to consider when choosing the right technology stack for your crypto exchange software development project. Additionally, we will discuss the importance of hiring ReactJS developers to ensure a successful implementation.
Security
Security is of paramount importance when it comes to crypto exchange software development. The technology stack you choose should have robust security features to protect against cyber threats, hacking attempts, and fraudulent activities. Blockchain technology, which underlies cryptocurrencies, provides a decentralized and secure framework. Consider integrating blockchain into your technology stack to enhance the security and transparency of your crypto exchange platform.
Scalability
As your crypto exchange grows, it is essential to have a technology stack that can handle increasing trade volumes and user traffic. By selecting scalable technologies, you can ensure that your platform can accommodate a growing number of users without compromising performance. ReactJS, a popular JavaScript library, is known for its scalability. Hiring ReactJS developers can enable you to build a flexible and responsive user interface that can easily adapt to changing demands.
User Experience
A seamless and user-friendly interface is crucial for attracting and retaining users on your crypto exchange platform. The technology stack you choose should support the development of intuitive and responsive user interfaces. ReactJS, with its component-based architecture, allows for the creation of interactive and dynamic user interfaces, resulting in an exceptional user experience. Hire ReactJS developers with expertise in creating visually appealing and intuitive interfaces can greatly enhance the user experience of your crypto exchange.
Speed and Performance
In the fast-paced world of cryptocurrency trading, speed is a critical factor. Users expect quick and efficient transactions on your exchange platform. Therefore, your chosen technology stack should prioritize speed and performance. ReactJS, with its virtual DOM and efficient rendering capabilities, enables faster and smoother user interactions. Leveraging the skills of ReactJS developers can help optimize the performance of your crypto exchange software, resulting in reduced latency and improved overall speed.
Third-Party Integrations
To provide a comprehensive trading experience, your crypto exchange platform may require integration with various third-party services and APIs. It is crucial to select a technology stack that allows for seamless integration with external systems. ReactJS has a rich ecosystem of libraries and tools that facilitate integration with external services, making it easier to incorporate features such as payment gateways, KYC verification, and trading analysis tools into your crypto exchange platform.
Conclusion
Building a successful crypto exchange software requires careful consideration of the technology stack. By prioritizing security, scalability, user experience, speed, and third-party integrations, you can create a robust and user-friendly platform. Hiring ReactJS developers can greatly contribute to the success of your project, as they possess the expertise to develop scalable, secure, and high-performing user interfaces. As you embark on your crypto exchange software development journey, make informed decisions about your technology stack to ensure a competitive edge in the ever-evolving cryptocurrency market.
One of the factors that attract customers to your online business is the availability of convenient and familiar payment methods added to your website. This allows customers to spend less effort on making payments for their chosen products. Therefore, local payments are the factor that inevitably leads your company to success and prosperity.
It sounds quite optimistic, but once you encounter the need to organize technical nuances and configure everything to work safely, reliably, and stably, certain difficulties may arise. That’s why the payment service experts at Fondy have created a detailed step-by-step guide for you to make this process easy and spare you the need to encounter pitfalls and challenges. So, let’s take a look inside: what are local payment methods, why it’s worth including these systems in the payment options for customers, and what features do such local payments have?
What are local payments?
Local payment methods are specific payment options that are popular in certain countries or regions. They include digital wallets, mobile payment apps, prepaid cards, and bank transfers. Digital wallets such as Alipay, WeChat Pay, and PayPal allow users to securely store their payment information and make transactions with a few taps on their mobile devices. These are the most widely used and recognized options in the world. In addition to them, there are other options for local payments, including:
Convenient mobile payment apps;
Prepaid cards that can be used even without a bank account;
Local bank transfer systems (iDEAL, Boleto Bancário, etc.).
And these are just the most popular options. In reality, there are many more local variants. While you ignore the fact that customers find them quite convenient to use, your competitors are moving forward and gaining their share of the market by offering a seamless user experience with their resources. Just take a look at the full list of options popular in different regions.
Why is it important to include local payments as one of the payment options accepted by your website?
The main reason is that such solutions help expand your audience by attracting customers from different countries and regions. When you offer the option to pay using popular local payment methods, you become more accessible to potential customers and increase the chances of sales growth. Moreover, many customers consider local payment methods more convenient and reliable since they are already familiar with these systems and trust them.
Furthermore, including local payment methods provides convenience and comfort for customers and often helps avoid conversion losses associated with currency transfers and fees.
How to manage payments coming from different sources?
Despite the convenience for customers, incorporating multiple local payments into the list of available options creates additional challenges in managing the company’s financial flows. It becomes necessary to manually track conversions and business efficiency. However, the Fondy service is specifically designed to allow you to enjoy the benefits of accepting local payments and seamless management of corporate finances. Fondy provides a comprehensive set of tools for flexible integration with e-commerce, making it easy to add new payment methods and manage them from one place. Additionally, the Fondy service offers analytical reports and payment management tools to ensure the security and reliability of your business.
In the fast-paced world of finance, innovation is the name of the game.
Companies that can adapt to emerging trends and harness the power of technology often find themselves at the forefront of a revolution. One such trailblazer is Black Banx, a groundbreaking financial institution that has seamlessly merged the realms of cryptocurrency and digital banking.
Founded in 2014 by the German billionaire Michael Gastauer, Black Banx has quickly emerged at the forefront of digital banking, spearheading a borderless financial system where money flows freely and opportunities abound.
Never satisfied with what it can do for its clients, Black Banx continues to delve into developing financial services and solutions that involve both traditional currencies and emerging new digital variants to continue easing accessibility of banking all over the world.
An evolving vision
Black Banx embarked on its mission to revolutionize the financial landscape in 2014.
With a commitment to unlock a borderless financial system accessible to all, the company set out to connect people and businesses worldwide with unparalleled ease.
By harnessing the power of smartphones and online platforms, Black Banx sought to provide a financial service platform that transcends boundaries and empowers individuals and enterprises alike.
Pioneering crypto integration
In 2015, Black Banx officially launched its services, ushering in a new era of digital banking.
However, it was in 2016 that the company truly made waves by introducing cryptocurrency as a deposit method. Recognizing the transformative potential of digital currencies, Black Banx embraced this burgeoning asset class, setting itself apart from traditional financial institutions.
This bold move to begin offering crypto currency as a deposit method in 2016 was just the beginning, as this opened a world of possibilities for customers eager to participate in the crypto revolution.
Crypto currency trading services
Black Banx’s commitment to innovation reached even new heights in 2018 with the launch of its fully-fledged, 24/7 cryptocurrency trading services.
Offering popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), Black Banx positioned itself as a leader in the digital currency space, as this move allowed its customers to capitalize on the volatile nature of cryptocurrencies and seize lucrative investment opportunities.
The market took notice, with Black Banx seeing its valuation soaring to an impressive US$9.8 billion in less than four years.
Continuing to go global
Black Banx’s influence extends far beyond its headquarters.
With operations in 180 countries, the company has established a truly global network. This expansive reach covers markets accounting for approximately 90% of global GDP, trade, and capital flows.
By bridging the gap between nations, Black Banx facilitates seamless cross-border transactions, providing individuals and businesses with the freedom to transact globally with the same ease as if they were operating locally.
Unleashing the power of connectivity
The backbone of Black Banx’s success lies in its unwavering commitment to customer-centricity.
As of 2022, the company boasts an impressive customer base of 20 million retail customers and 1.5 million business customers. Offering private and business accounts in 28 fiat currencies and two cryptocurrencies, Black Banx has shattered the barriers that once hindered international transactions.
With the ability to effortlessly convert and transact in multiple currencies, customers can now enjoy a truly frictionless experience when conducting business on a global scale.
Maintaining a holistic approach
Thanks to its mission, Black Banx recognizes that a significant portion of its operations continues to revolve around cross-border payments, which make up approximately 80% of its activities.
However, the company also embraces the immense potential of cryptocurrency and currency trading, which presently accounts for the remaining 20%.
By seamlessly integrating its fully-fledged banking platform with the features of a crypto exchange, Black Banx empowers clients to leverage their crypto balances to pay third parties directly.
This unprecedented level of autonomy empowers individuals and businesses alike, fostering a sense of financial freedom previously unimaginable.
Driving growth in the financial industry
Black Banx’s game-changing approach has unleashed a wave of growth and opportunity within the financial industry.
By merging crypto with digital banking, the company has transformed the way we think about money and finance. The traditional boundaries that once constrained the flow of capital have been shattered, paving the way for a more inclusive and interconnected financial ecosystem.
Through its innovative services, Black Banx has democratized access to financial resources, leveling the playing field for individuals and businesses around the world.
Black Banx’s meteoric rise in the financial industry is a testament to the power of innovation and vision.
Through the continued leadership of German billionaire Michael Gastauer, the company has spearheaded a revolution by combining crypto with digital banking, empowering individuals and businesses to participate in a borderless financial system.
With a global footprint, cutting-edge services, and a customer-centric approach, Black Banx has redefined the way we interact with money, and the financial industry will never be the same again.
Bitcoin 
Ethereum 
Tether 
XRP 
BNB 
Solana 
USDC 
Cardano 
TRON 
Lido Staked Ether 
Avalanche 
Toncoin