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Deloitte Digital Launches New Digital Banking Offering

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Deloitte announced the launch of Digital Bank, a new services offering for banks to accelerate their digital transformation. Based on the Salesforce Intelligent Customer Success Platform and utilizing the Salesforce Financial Services Cloud, Digital Bank helps banks create exceptional experiences by providing tailored banking capabilities with accelerated implementation and realisation of value. 

Deloitte Digital and Innovation leader. “To compete in the changing banking landscape, it’s important for banks to provide their customers with experiences that are genuinely and positively surprising in both their function and appearance. Digital Bank is designed to help banks create value by offering their customers banking capabilities that are tailored to their individual needs, behaviours and patterns.” 

The service is integrated with a wide range of leading cloud vendors, enabling clients to benefit from pre-integrated partner technologies. This flexible, open, and adaptable platform enables banks to deliver digital banking experiences that can drive differentiation, innovation and outstanding customer and employee experiences. 

Digital Bank’s capabilities and potential benefits include: 

Augmented Salesforce Platform with many technologies, fintech solutions and AppExchange partners, as well as personalized channel engagement through automated marketing using Salesforce Marketing Cloud. 

Ability to expand relationships by having full visibility into bank relationships across business units. 

Established customer trust through multifactor secured cloud banking platforms and improved onboarding for customers through a fully mobile process enabled by many technologies 

Increased speed and agility to meet customer needs, as well as the regulatory needs of the banking industry, using predictive analytics based on account behaviour to recommend next best offers and next best actions 

Accelerated implementation allowing banks to generate ROI faster, including linking newly created accounts in Salesforce to a blockchain secured digital identity 

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BlackBerry Key One Now Available In SA

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TCL Communications and Vodacom have launched the BlackBerry KeyOne smartphone in South Africa. 

Vodacom will be the exclusive launch partner for the BlackBerry KeyOne, offering the device from 8 August. 

Pre-orders are available through Cellucity’s website, which states that it will release the device to buyers from 7 August. 

Previously code-named “Mercury”, the BlackBerry KeyOne features a touch-sensitive physical keyboard and runs on Android 7.1. 

Its touch-sensitive keyboard lets you navigate without touching the screen and offers BlackBerry’s flick typing system on physical keys. 

The BlackBerry KeyOne will retail for R9, 649, and will be available for R479 per month on a 24-month Vodacom uChoose Flexi 200 contract. 

TCL said the end of its exclusivity period with Vodacom has not been determined. 

Below are the specs:  

  • Display: 4.5 IPS LCD capacitive touchscreen (434ppi) 
  • OS: Android OS, v7.1 (Nougat) 
  • CPU: Octa-core 2.0 GHz 
  • RAM: 3GB 
  • Memory: 32GB (expandable up to 256 GB) 
  • Camera: 12 MP, f/2.0, phase detection autofocus 
  • Video: 4K video recording at 30 fps 
  • Battery: Non-removable Li-ion 3505mAh 
  • Extras: Fast battery charging: 50% in 36 min (Quick Charge 3.0 

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How Much Is The State Pension Fund In SA?

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The current South African pension rates for the South African Social Security Agency (SASSA) grant are a maximum of R1 700 per month or R1 720 for those aged over 75.  

A state pension fund can be paid to you when you’re termed as an older person. For people who are 60 years or older. They can get a grant to see them through their old age. SASSA pays the grant to its beneficiaries through cash at a specific pay point on a particular day. 

To qualify you should  

  • Be a South African citizen or permanent resident that lives in South Africa. 
  • You shouldn’t receive any other social grant for yourself. 
  • Nor should you be cared for in a state institution. 
  • Or earn more than R78 120 if you’re single or R156 240 if married. 
  • Not have assets worth more than R1 115 400 if you’re single or R2 230 800 if you’re married.

To obtain the money SASSA will pay the grant to you through one of the following methods: 

  • Cash at a specific pay point on a particular day.
  • Electronic deposit into your bank or Postbank account. The bank may charge you for the service. 
  • Specific institutions such as an old age home.

If you are unable to collect the money yourself, you can appoint a procurator at the SASSA office, or give someone power of attorney to collect the grant on your behalf. 

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DSTV Prices: 2009 – 2019

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DSTV is a popular South African product and a big cable and satellite TV player. But that may certainly look to change especially if we look at the price of DSTV and how it’s changed over a decade. 

From R499 in 2009 to a 62% increase which today in 2019. A DSTV premium subscription amounts to R809.  

But just as with anything in life when a product gains momentum. The business always wants to capitalise on its popularity. Hence the price hikes, but now with the price of nearly everything increasing from high petrol prices to VAT hikes. 

People have really had to sit down and see what they can do without in their budget. And DSTV has become a factor they take in whether if they decide to move to a cheaper DSTV package rather than the Premium subscription consumer are opting for DSTV Compact Plus or even DSTV Compact. 

Then of course streaming services such as Netflix has seen more consumers jump in and ditch DSTV for offers of massive catalogues of content on Netflix at much lower prices than expensive cable and satellite TV. 

This shift in sentiment has made DSTV stand up and take notice as it was stated by the satellite subscription that it won’t hike its premium subscription price up in 2019. This is the first year MultiChoice has elected not to increase the monthly subscription of DStv Premium. 

DStv is a Digital Satellite Television in Sub-Saharan African direct broadcast satellite service owned by MultiChoice. The service launched in 1995 and provides multiple channels and services to their subscribers, which currently number around 11.9 million. In 2018 DStv PVR decoders reach 1.4 million. 

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CRM Marketing Trends 2019

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Your customer relationship management (CRM) strategy should be based on a system that can seamlessly adapt to trends. One that unlocks potential and ensures that, no matter where interconnectivity takes you, your customers will follow. 

There’s a change in how all customer segments across Business-to-Business (B2B) and Business-to-Consumer (B2C) select who and why they buy from one company or another. As well as when they buy to harness that information, you have to collect it and that’s where CRM comes in. 

The better the marketing data, insights and customer-centric knowledge driving decisions, the more effective every marketing tactic and strategy will be. When marketing strategies are built on a solid foundation of customer intelligence and insight, customer experiences improve. 

Therefore here are the CRM Marketing trends to look out for in 2019 

  • Brands with purpose 

A big focus for 2019 is marketing products that stand for something and solutions that give back to society. This is because consumers want social proof of brand impact and value. 

  • Data-driven insights 

Data is everywhere, and sales and marketing are honing into the endless possibilities provided through data mining to deeply understand customers, their emotions and buying patterns. 

  • Mobile/voice search and voice assistants 

Brands should be looking to redesign their websites to support visual and voice search. Voice search and digital assistants are the new trends that are fast becoming the primary mode of search. By 2020 more than half of all searches will take place via voice search. 

The Cortana’s, Bixley’s, and Siri’s of the world, coupled with machine learning capabilities, are becoming more popular as their capacity for recognising human speech has improved significantly.  

  • Artificial Intelligence (AI) 

AI in customer relationship management will be one of the primary catalysts of intelligent CRM’s growth over the next four years, supported by analytics, business intelligence and machine learning. Buyers will focus on the addition of emerging technologies that enable more effective customer experiences. 

It will be AI’s role, to ease the burden of manual and tedious tasks. This will offer more time to focus on giving customers what they want consultative, trusted advisors, a uniquely human skill set. 

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Credit Scores: The Good, The Bad And The Ugly

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Your credit score is a reflection of your credit history. Your total credit score takes into account factors such as your payment history. This can include your total debt, the duration of your credit history, your new credit and the types of credit you use. Now this can mean something good, bad or ugly for your credit scores depending on your financial behaviour.  

Credit scores range from 300 to 850 when we look at the good in credit scores. The higher scores are the more positive. A score in excess of 700 is a good score and should give you good access to credit at a preferential interest rate. Above 767 is excellent and shows you to be a very low-risk consumer that institutions would be happy to give credit to. 

Therefore the better your score is it shows your financial responsibility and you’ll appear more reliable to lenders. Because it will indicate that you most probably paid your bills on time and lenders will more likely to trust you to stay on top of your payments. Along with that you’ll be provided with the best interest rate, which could save you money. 

While the bad of credit scores is negative information that’s valid such as late payments, this could cause you to experience financial limitations and obstacles. That can include unsecured loans may be your option. Or suffer the consequences of being subjected to very high interest rates and add-on fees. 

The good news though is that this can simply be improved by ensuring that payments are made on time every single month. Budgeting finances can help you along in improving your credit rating.  

And the ugly of credit scores is having debt settlements, bankruptcies, foreclosures, law suits, wage garnishments or attachments, liens or public judgments against you. These items of public record constitute the most dangerous marks to have on your credit report from a lender’s perspective. 

As these can only be taken off of a credit report after a period of several years and it’s not something that just goes away easily or can even be overlooked. Therefore getting back on the road for your credit score to improve might take time and a whole lot of work and effort on your side. You may suffer the consequences of being totally denied for loans. Although in the meantime dedicating yourself to paying off debts, is a start. 

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A Beginner’s Guide To All Things Trade-Related

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Trading can offer a good way to build wealth. An important part of the process is having a plan and knowing how you could get out of bad trades.   

Knowing your appetite for risk is fundamental. If you have a low propensity for risk-taking behaviour, then all things trade-related are not for you. One of the key parts of trading involves taking some form of risk.  

You can learn a strategy from someone else if you have no idea where to start. While there are various courses available, it may be better to learn from someone with experience. 

Practice is important. You can use a demo account to practise. Do this for several months until you have been profitable using it. Then you’ll be ready to open a live account. This offers a great way to get as much experience as possible and to become even more familiar with your risk-taking behaviour. 

There may be certain capital requirements involved so you need to consider this before you start trading. Depending on what you are trading in, there may be a particular starting amount required. 

For instance, forex day trading doesn’t have a legal minimum. This has lowered barriers to entry. 

Consider your goals. One of the rules of thumb before one begins trading is that there has to be a strategy in place. This means that you need to have some goals. Consider how much money you would like to make, as well as the type of portfolio you want to create for yourself. 

Making money doesn’t happen overnight. You can become consistently profitable in six months to a year once you start trading and become familiar with all things trade-related. 

You can also use a broker to make the entire process simple for you.  

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Managing And Understanding Financial Risk

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The management of financial risk can be used to protect against financial market exposure. This is essentially protection against loss in value of a financial asset. 

For Violet, who owns her own make-up range company, managing and understanding financial risk should become a key part of making sure that her business operates as efficiently as possible. 

This includes the development of relevant policies and procedures.  

Avoiding unnecessary risk should also be part of the process. 

Many businesses often generate passive income by using financial investment. Violet could opt for this as a way of making additional money. Going into this also means that she will need to become acquainted with the risks and rewards involved. She has to learn how to make the protection of company resources a priority. Managing and understanding financial risk in this sense means that she will have to ensure that there is no loss of capital. By enlisting expert help and diversifying the company’s portfolio, there is a greater chance of avoiding loss of money. 

Violet also needs to understand that the use of a savings account ensures that there is cash on hand for emergency purposes. This may also provide a relatively safe investment tool. By establishing an emergency fund with at least three to six months’ worth of savings she will be in a better position financially, should business go south.  

Having the right amount of insurance is important. This should protect her from losses she can’t afford to replace. 

There are three typical ways of managing risk: 

  1. Sharing the responsibility 
  2. Doing nothing and accepting it 
  3. Hedging risk 

Violet needs to decide which will be the best way of managing risk for her business, in a way that will be most efficient for business operations.  

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Factors Influencing Financial Risk

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Financial risk is the risk that businesses run into when making investments or when conducting day-to-day operations.  

Monty is a car mechanic running his own business from a garage in his neighbourhood. He has to consider a range of risks that come with owning and running such as business. All of the risks that he identifies may potentially affect his ability to make money, which mean that they ultimately lead to financial risk. 

For Monty, factors influencing financial risk like market changes, government regulations, credit use and liquidity are major. 

If fewer people are buying cars, then the need for his services may dwindle. The fact is that if there are no cars to service, then there is no demand for his services. Market risks present themselves in the form of changes based on supply and demand, technology or consumer interest. 

If government decides to impose strict regulations about where businesses like his can operate in residential areas, this will have a direct impact on his finances. 

Credit risk for Monty relates to the current financial standing of his company. If Monty provides services to some of his clientele on credit, he expects payment to be made as promised. If this isn’t done, then his financial standing is affected negatively, which may lead to his business having difficulty servicing its credit agreements. 

Liquidity refers to how much cash the business has kept aside for emergencies. If Monty’s business has no form of liquidity, this poses a financial risk. Cash flow is also determined by daily revenue and expenses.  

Economic changes that may lead to financial risk are often unforeseen. This includes inflation, taxes and fluctuating markets. 

Understanding the various factors influencing financial risk is an important part of running any business efficiently. 

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Defining Financial Risk And Its Types

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Orlando runs a welding shop and is assessing the various risks that may affect his organisation. This includes looking at financial risk that may apply, 

What is financial risk? 

This is the risk that a business entity or individual will be unable to meet financial obligations. This may be due to a range of reasons. 

Types of financial risk: 

Market Risk this is uncertainty that arises as a result of changes in market prices. For Orlando’s company, fluctuations in the price of metals directly impact operations. Demand for his niche services is also a factor. 

Credit Risk this is when an external entity fails to keep a promise. This may then lead to financial uncertainty on the part of the firm. If one of Orlando’s clients constantly pays him late then this affect operations. 

Liquidity Risk this is when a company is unable to pay. If a company does not have enough cash flow then is likely that it won’t be able to meet certain obligations. Mitigation of such a risk involves creating an emergency fund. 

Reputational Riskif the perception of the entity is negative, this may have a bad effect on finances.  

Having clear risk management policies in place goes a long way towards mitigating financial risk. 

For entrepreneurs like Orlando, defining this risk and its types is vital to fully understanding what it means to operate as efficiently as possible. Part of this journey for him involves creating a way to manage this risk in such as a way that it becomes easier to operate without the fear that operations will be disrupted or halted.  

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