Archive for March, 2021

UBS Financial Services – What Do They Do?

March 6th, 2021

UBS Financial Services is a global company that provides a full range of financial services to individual clients and companies all over the world. In an increasingly globalized world economy that the kind of international expertise that UBS Financial Services can offer is a distinct advantage to all types of client that need to manage their wealth. UBS offers a service that reflects the global nature of financial markets.

UBS Financial Services has offices on every continent. It operates in Switzerland, the United States, Canada, South America, Europe, the Middle East, Asia and Africa. If even this comprehensive network does not put you near a branch of UBS Financial Services you can use the banking online service. UBS Financial Services online banking offers the convenience of making decisions from the comfort of your own home and provides the same range of wealth management and investment services.

Individual customers can benefit from a complete range of financial services. UBS Financial Services offers annuities,401K plans, securities, mutual funds, fund management, wealth management, life and health insurance programs and trust funds. In addition UBS Financial Services can provide an attorney network, Roth IRA accounts, estate planning, account management, retirement distribution analysis, educational funds and fund management and lines of credit. In other word UBS Financial Services offers all the services you would expect to find in a worldwide financial service.

For businesses of all sizes UBS Financial Services offers a comprehensive range of services. UBS Financial Services can provide a customized package consisting of employee stock ownership management, retirement services, corporate cash management, consulting and a global expansion option. Whatever size of business you run UBS Financial Services has something to offer.

If your business already operates globally then UBS Financial services can offer specialized services including rates and currency calculators, equities, fixed income, investment options and help with employee benefit and retirement packages

Non-profit agencies can benefit from UBS Financial Services because the company is sensitive to the specialist needs of this sector. UBS Financial Services is aware of the regulations that effect the disbursement of funds in the non-profit sector. Government agencies, banks and other other lending agencies work with UBS Financial Services enabling the company to develop a unique expertise in this field that can benefit large or small non-profit agencies.

UBS Financial Services operates a specialised online trading system that allows the client to input trades directly. A client who needs advice can work with a financial advisor to develop a portfolio of investments using the expert knowledge of UBS Financial Services. Both companies and individuals can take advantage of this service. This can be done in one of two ways. A brokerage account can have a flat rate fee on each trade or can be charged on the assets in the account. An individual or company that have a high number of trades will benefit from the second type of fee structure if they keep an steady balance in their asset account.

Global Trends For the Financial Service Industry

March 6th, 2021

As the economic crisis continues to unfold, the financial service industry faces serious challenges. The crisis is rooted in continuous imbalances, including long periods of low interest rates, rapidly rising asset prices, and massive credit and savings imbalances. The 2007 and 2008 Reports from the World Economic Forum predicted these changes as continuous risk to the market.

Earlier decades of exceptional growth and capitalism at its best have now caused the market to adapt to tighter credit, growing government intervention, slowing pace of globalization, and no economic growth. With increasing regulations in the United States and decreasing availability of credit, the industry faces a significant risk of stunted growth. The global recession is also affecting the financial sector because of capital markets and decreased aggregate demand, according to Max von Bismarck, Director and Head of Investor Industries.

This article will provide leaders, employees and investors in the financial service industry with five unique and timely trends to keep in the forefront of their growth strategies for the next five years. These five key trends will shape the post financial crisis in a holistic and systematic manner.

FIVE KEY TRENDS

GLOBAL BANKING. According to the World Bank, although many banks such as American Express, Citibank and JPMorgan Chase conduct business in multiple countries, they are relatively regional in the United States. In order to grow, the financial industry will have to infiltrate emerging markets. For companies that have a more aggressive growth strategy, the spread to emerging markets such as Africa and Asia presents unparalleled opportunities for profit and increased market share.

IT PLATFORM SHARING. Network World confirms that financial service firms’ business strategies must be altered for the new dynamics and intricacies of today’s market. Immediate access to information and integration along product lines and geography are a must for future success. With the need to supply information to a global market, firms must decrease cost. One cost effective initiative is the use of platform sharing; like cell phone companies that collaborate with local companies in order to decrease cost and increase access, financial firms can do the same.

E-BANKING. A special report from The Economist sees that with 3.5 billion people with cell phones and an expected 10-20% year over year growth, personal and business banking transactions are conducted through cell phones more and more. Thus, E-banking capability is quickly becoming an increasing requirement in order to compete in the marketplace. E-banking capabilities provide companies with essential flexibility and differentiation in the market through Internet-based service applications.

MOBILE MONEY. The increase of mobile phone usage in emerging markets makes mobile money a safe, low cost initiative for the financial sector. It is an easier way to transfer money to family and friends, money is sent, and payments and withdrawals can be made without ever going to a physical bank or payment center. M-Pesa, an early developer of mobile money, concluded that mobile money “has enormous social and economic benefits.”

SELF-SERVICE. Self-service and the customer should be a primary focus for firms in this new financial service world, according to IBM. AppViewXS is a self-service portal firms can purchase, so customers can check the status of their account and gain instant access to available services. Customer questions and concerns are addressed more quickly, states an IBM representative. This technology automates many processes; the result is that staff workload is reduced while representatives operate faster and more efficiently.

Financial service firms need to have sustainable, steady expansion in the emerging markets in order to grow in the future. Deloitte and Touche Research reports that financial service firms have not positioned themselves to capitalize on more geographically dispersed opportunities. More than 93 percent of the executives interviewed for this report acknowledged that their firms “are not operating in a globally integrated fashion.”

The same report states that financial firms need to invest away from veteran or mature markets and toward emerging markets because “by 2025, veteran markets will be rivaled by other markets with faster growing economies and increasingly sophisticated financial product appetites.” USA based firms can look toward Japanese and African markets for expansion opportunities. Kennedy Consulting analysts believe that the market will rebound from the global financial crisis in 2011, but there will not be any return to the robust levels prior to 2007 until much later in the decade; hopefully, the five key trends in this report will help the leaders, employees and investors in the financial service industry to look toward a robust sound future.

In addition to growth strategies, in the 2002 Journal of Business and Industrial Marketing, Henson and Wilson discuss the extreme changes that have occurred in the financial service industry and how many firms are trying to develop and execute successful strategies based on innovative technology and customers. Aside from the regular ups and downs of the financial world, technology and innovation will always prevail as the win-win for the financial service industry. Because online banking has become the norm for most customers, technology will be very important in these firms’ strategies.

With the customer at the center of most trends in financial service firms, creating new values for their current and potential clients beyond current expectations will be a top priority. The need for convenience mixed with technology makes mobile money a great initiative in the emerging as well as the developed markets. Many firms have speed pay, the ability to pay without swiping the card, as part of their credit card services. An embedded chip in the credit card enables payments to be made by putting the card close to the payment processor. Mobile money will be an expansion of payment and money transfers without the need for a card, the need to go to a physical bank, or to use Internet banking. Payments, transfers, deposits and withdrawals can be made with a cell phone.

The World Bank concurs that innovative technology and an increase in e-business strategies will lead to much lower costs and greater competition in financial services. Internet and related technologies, the World Bank affirms, are more than just new delivery channels; they are an inexpensive, different, and very effective way to provide the same services. Since financial service firms must grow organically, build customer loyalty, and accommodate the customers’ expanding needs for services and convenience, partnerships with new technology businesses will allow them to lower their expenses and be competitive.

Established firms such as Amex, Citibank, and others can partner with groups such as the wired tech savvy Google Alumni who are not averse to risk and who own fledgling technology businesses that are reshaping the industry with a new wave of innovative products, write Spencer Ante and Kimberly Weisul of Business Week. Mobile Money Ventures is one such fledgling company that is a provider on the forefront of alternative financial service products. Small companies such as these are able to provide well-known financial firms the wherewithal to open in emerging markets where there is a need for cooperation with other firms in order to attain then obtain the local customer base.

Today’s competition is fueled not just by profitable customers, but also by the firms that are the most efficient and cost effective. Procedural and cultural clash will result from expanding into unknown markets as seen by the