MOSCOW (AP) — The Moscow police plan to stifle an opposition protest by clamping down on the center of the city has backfired. Not only did the massive demonstration demanding freedom for jailed opposition leader Alexei Navalny take place Sunday, but it was spread throughout a wide swath of the city. By making a long trek through Moscow’s icy streets, the protesters got a chance to spread their message across much of central Moscow, attracting considerable attention along the way with their chants against President Vladimir Putin.
Year-to-year, community financial institutions have become more conservative about consumer lending. So as to not open themselves up to additional risks, many of these institutions tend to only service consumers with prime and super prime credit. However, consumers with non-prime credit make up a solid portion of the consumer lending market, so this desire to stick with “safer” loans leaves quite a few loan opportunities on the table. And when many community financial institutions are dropping their rates to as low as 0% in order to compete with large national lenders for prime and super prime consumers, missing additional revenue opportunities for your loan portfolio is not a small matter.To compound the challenge, Millennials – who present a massive lending opportunity for financial institutions – are often considered non-prime (due to having little-to-no established credit or having outstanding student loan debt.). So while fear of unwarranted risks keeps community financial institutions from supplying loans to these “risky” consumers, new non-traditional lenders are stepping in to swoop up these untapped loan opportunities. Market disruptors like retail lenders (i.e. Costco), mobile lenders (i.e. AutoGravity), and peer-to-peer lenders (i.e. Lending Club) are finding ways to bypass the existing banking system, credit bureaus and financing requirements to lend to this highly sought after demographic.If your community financial institution is avoiding non-prime consumers you are likely creating three major problems for your business:You are missing out on an opportunity to vastly expand your loan portfolioYou are isolating some of your key demographicsYou are losing out on new streams of revenueThe best way to drive loan yield is to expand and diversify your loan portfolio, so you are not missing out on any major opportunities. A whole host of solutions have surfaced in the consumer lending marketplace over the past decade that offer to help community financial institutions adjust their lending policies and criteria so they may begin servicing a greater portion of the borrowing population. These offerings primarily consist of collateral risk protection programs, expanded loan channels, add-on consumer offerings and digital engagement tools.Once you’ve adopted a number of these solutions, you can begin to experiment with various packaging and marketing strategies to differentiate you from your competition, attract new borrowers and generate much sought after non-interest income. The options to take advantage of are ever-evolving, and the opportunities offered through these solutions are endless. If you want to attract new loan customers, you have to set yourself apart from a growing list of competitors. The only way to do that is to offer the entire marketplace something other competitors cannot: end-to- end service, at the low cost only a community financial institution can offer.Contact Brian Timson to learn more about how you can expand and protect your consumer lending portfolio: email@example.com.Interested in learning more strategies for competing with traditional and non-traditional lenders? Read our white paper on “Stop Handing Over Auto Loans to Your Competitors”.Interested in learning more about effective marketing strategies? Read our white paper on “Consumer Engagement Channels: How and Where to Get the Most Out of Your Communications”. 16SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Brian Timson Brian has held senior management positions in the financial services industry for more than 20 years. Focused on leveraging technology to improve the way that companies do business, he has … Web: www.alliedsolutions.net Details
The €10bn pension fund of Dutch telecoms giant KPN said it would offer its participants the option of variable benefits at retirement.The move will allow retirees to avoid having their full pension rights converted into annuities, which have dropped in value in recent years due to low interest rates.In its annual report, the KPN scheme said participants with defined contribution (DC) arrangements would be able to choose between traditional fixed benefits from an annuity or payments that could vary over time.The choice was made possible by new legislation (Wet Verbeterde Premieregelingen) introduced in September 2016 that allowed for continued investment of part of a members’ accrued pension assets after retirement. KPN is one of a small number of schemes to introduce this option of variable benefits.Many pension funds, including the Pensioenfonds PostNL and BpfBOUW, have said they won’t introduce variable pension payments.Under the new legislation, participants in a DC plan have the right to shop around when their pension fund merely offers a single benefit option, which is almost always a fixed payment.As a consequence of few pension funds taking up the new rules, participants who want to continue investing have to turn to insurers, including Aegon, NN, Delta Lloyd and Allianz, which offer variable benefit arrangements.The KPN scheme said its decision was triggered by 8,000 deferred participants of the former pension fund of ICT firm Getronics – taken over by KPN in 2007 – who joined the Pensioenfonds KPN last year.At the Getronics scheme, which liquidated last year, many participants had accrued pension rights under DC arrangements.
AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisAlpena, Mich. — Carbon monoxide and smoke detectors, fire alarms, and escape plans are all important tools in keeping yourself as well as friends and family safe.On Thursday, seniors got a refresher on some important safety tips and information. Alpena City Fire Department community risk reduction officer Andy Marceau and 911 director Burt Francisco presented lifesaving tips, so that seniors can be ready, should an emergency arise. Both provided a few useful tools for seniors to protect themselves with. Two of those were carbon monoxide and smoke detectors that seniors can get help with installation by contacting the senior center.The other was a smart 911 app, where you can preload information like photographs, allergies, and other important notes about where you live and who lives there. This helps first responders have a better understanding when responding to a situation. They can look at the information, so they can anticipate an emergency instead of going in with little or no details.“When you call 911, it’s a very chaotic situation, and there is a lot of emotion, and they may not recall everything that they need to tell a dispatcher or emergency responder,” said Francisco. “During a time, a non-emergency time, they can go in and enter their information, which will expedite and make the 911 call more efficient to process with dispatcher.”Smart 911 is free and available in the app form or via website for all Michiganders. It can be extremely helpful in nonverbal communications as well. The technology is four years old and was introduced two years ago. It has seen a large increase in enrollment over the past year. You can fill in your information by visiting the website www.smart911.com.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Alpena City Fire Department, Alpena County 911, Alpena Senior Citizens Center, Carbon Monoxide Detectors, Fire Alarms, First Responders, MICHIGAN, Seniors, Smart 911, Smoke DetectorsContinue ReadingPrevious Woman saves her dog before flames takeover carNext Laugh for a good cause in Oscoda this weekend