Category Archives: Fintech Services

4 Important strategies to help your business recover from coronavirus

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Guest Post | Pankaj Raghav | March 25, 2020

Coronavirus impact to your business - 4 Important strategies to help your business recover from coronavirusThe entire world is dealing with the havoc of the coronavirus pandemic. Naturally, it will have a wreaking impact on the economy. The big events are being cancelled, flights are non-operational, and all sports leagues have been postponed. Almost every country across the globe is putting travel restrictions with an aim to keep the virus out of their home border.

To combat the disease, the hospitals are bracing day in and day out, and public health officials are doing the best they can. Sadly, it isn’t easy being calm or optimistic in this dark time of crisis. However, as for the business owners, trying to be calm under crisis is a pivotal quality of their job description.

So, if, as a business, you employ some proactive steps right away, you can get your business to be more safe and secure to recover faster post the crisis. China, the original epicenter of the Coronavirus, has started coming up with measures that are depicting clear signs of economic recovery. So, we have come up with 4 important steps and strategies that you need to implement to help your business recover post this pandemic.

Analyze how the virus affected your customers

Mia, who offers online statistics homework help services, says that depending on the type of industry that your business entails, your consumers will have a bunch of new pain points associated with this disease. So, you got to put in your brains, and think how this pandemic has affected or will affect your customers. Ponder what is it that’s keeping them awake till late, and how your business can help? Based on this calculation, you’ll have to alter your sales pitch, and then channel your marketing around it. It will help to cater to their worries and challenges.

For instance, are the consumers:

  • Panicking about the disruption in supply-chain?
  • Stressed about ensuring that employees are working from home?
  • Disturbed with the travel restrictions?
  • Unhappy with the uncertainty in the market?
  • Knackered by the inability to manage cash flow?
  • Experiencing a shortage in the supplies because of the panic-buying of the customers?

See:  Canadian small businesses are facing extinction amid lockdowns

Each of these business challenges will sadly aggravate in a situation like this. Now, this is where your role comes into play. You have to devise a plan to re-position your products and services. All of this must be designed in a manner that is helpful for your customers.

Accept your new sales channels

Jacob, who works with a platform where you can pay for writing papers online, says that even though the countries across the globe are going into a complete lockdown, the consumers are going to need to buy a bunch of things to satiate their needs. Thus, as a business, it is your golden chance to venture into alternative sales channels and serve your customers.

For instance, if shops cannot be opened or people cannot physically come to buy necessities, you should venture into e-commerce to make the products available for customers online. In China, restaurants have seen a decline in the footfall, so they have started offering takeaways and deliveries.

So, try to venture into the online platform to boost your sales.

Prepare for long-term investments

Brad, who offers online assignment help Australia, says that for businesses who are into B2B sales, it is a great chance to make long-term investments for the business. Unfortunately, all businesses will experience a bit of short-term slowdown. Thus, you need to take time and re-evaluate your platforms, operations, and processes. It will help you conduct some strategic planning.

For instance, Albert, providing CDR writing services says if you have any big prospects lined up, it is a golden opportunity to employ all your energy and resources into nurturing this long-term opportunity. You can check with your leads. Give them reassurance whenever needed. It is good to count them in.

Though this situation is bringing in a lot of cancellations in departments like concert tickets, airlines, or business conferences, the bigger B2B sales wouldn’t be as bad, unless the crisis gets dragged on for too long. So, it would be an excellent strategy to keep nurturing the business for long-term goals.

Get set to pent-up demand

One key learning from Chinese businesses is that after the pandemic is over, the economy might recover faster than we all expect. Sonia, who offers the best data science certification online, says that if the businesses cut back aggressively now, they wouldn’t be able to capitalize in the recovery phase.

In no way am I downplaying the seriousness of the situation, but I am certain that in a matter of a few months, it will all be over. Hence, companies need to accept the challenges yet embrace the opportunities to bounce back in the market. Rest assured, we are all in this together for each other and with each other.

 


NCFA Jan 2018 resize - 4 Important strategies to help your business recover from coronavirus The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Fintechs getting a boost from coronavirus outbreak

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American Banker | Penny Crosman | March 18, 2020

digital mortages - 4 Important strategies to help your business recover from coronavirusThe coronavirus pandemic could be devastating for many companies, but it's also shining a spotlight on the power of fintechs. They seem to be responding to the sudden challenge, though uncertainties lie ahead.

The virus-driven moratorium on travel and the trend of companies encouraging people to work from home are changing the way people behave and communicate, and some of these changes could become permanent.

“The behaviors that people can execute from their living room or from their den are going to grow, and behaviors that require face-to-face interaction or getting out into the community are going to diminish,” said Nigel Morris, managing partner of QED Investors and a co-founder of Capital One. “What does that mean? You should have greater mobile apps and digital adoption in general. If I had been holding off on signing up for PayPal, for instance, I might just do that.”

Fintechs that help people do things remotely, like communicate about work, apply for a mortgage or make electronic payments, appear to be thriving, at least so far.

Digital mortgages

The digital mortgage software provider Blend, which has 230 bank clients, has also seen spikes in usage.

Each business day since March 4, the volume of refinance applications running through Blend has been up 1500% to 2000% from the same days last year. Most days, the company has also seen an 85% to 95% increase in mortgage purchase applications from the same days last year. With these increased volumes, the entire Blend platform sees between 15,000 and 20,000 applications per day and is processing daily loan values as high as $8 billion.

See:  10 FinTech Influencers to Follow if You’re Into Digital Lending

Bank and credit union clients have been telling the vendor that their volumes are spiking, but that using an online application helps them handle increased demand better than forcing customers to call an 800 number and wait on hold.

Timothy Mayopoulos, president of Blend, said the coronavirus is creating an additional sense of urgency for financial institutions that may have been on the fence about investing in digital mortgage technology before.

“But there has been interest in digital technology for lots of other reasons before and will continue to be,” he said.

Another mortgage tech vendor, Black Knight, has not seen a change in behavior since the coronavirus outbreak.

“Adoption of our digital mortgage tech continues to be strong, but doesn’t appear to be driven specifically by this as of yet,” a spokesperson said.

Julian Hebron, founder of the consultancy The Basis Point, said that banks and other lenders' digital mortgage projects are on hold as they cope with an "avalanche of new refi production as well as hedging and other financial risk that comes with it. Consumer, salesforce and loan production systems in place will be used until this production spike and associated management priorities subside. Then banks and lenders will resume their digital visions to improve customer and employee experience."

Contactless payments

Mobile and contactless payments are becoming more popular as people spurn physical stores for ordering by smartphones, and amid heated debates about whether people can become infected with coronavirus by touching cash.

“We know that money changes hands frequently and can pick up all sorts of bacteria and viruses,” the spokesperson for the World Health Organization told The Telegraph recently. “We would advise people to wash their hands after handling bank notes, and avoid touching their face. When possible it’s a good idea to use contactless payments.”

The mobile and online payment provider PayPal had a good fourth quarter, though the coronavirus outbreak started Dec. 1; it generated 13.3% higher net income than in the third quarter.

See:

"PayPal is continuously growing," said Kryptoszene analyst Raphael Lulay. “The segment of online payment services is very competitive. Nevertheless, survey data shows that PayPal is in a significant lead. The group is also less affected by the coronavirus pandemic, among other things. PayPal is less dependent on advertising money than, for example, Facebook and Google.”

PayPal itself is cautious about its propects through the pandemic. It recently lowered the guidance of 15% revenue growth it had provided on Jan. 29.

“PayPal's business trends remain strong; however, international cross-border e-commerce activity has been negatively impacted by COVID-19,” the company said in a Feb. 27 press release. “We currently estimate the negative impact from COVID-19 to be an approximate one-percentage-point reduction, on both a spot and foreign currency-neutral basis, to PayPal's year-over-year revenue growth for the first quarter.”

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NCFA Jan 2018 resize - 4 Important strategies to help your business recover from coronavirus The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Winklevoss twins launch a marketplace for blockchain digital art

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The Toronto Star | Olga Kharif | March 17, 2020

Tyler and Cameron Winkelvoss - 4 Important strategies to help your business recover from coronavirusCrypto entrepreneurs Tyler and Cameron Winklevoss are launching a marketplace for nifties, the tradable digital art that can sell for thousands of dollars.

Nifty Gateway, a startup that the Winklevoss’s Gemini Trust Co. bought last year, is debuting a website Tuesday where consumers will be able to buy and sell digital collectibles from artists including Michael Kagan and Lyle Owerko. Kagan, known for his space exploration-themed work, has collaborated with singer Pharrell Williams on t-shirt designs and recently sold a work through Christie’s for $40,000. Works of photographer Owerko have graced the cover of Time magazine and been collected by the likes of Beyonce. Niftygateway.com will also sell a collection of digital art from MMA fighter Cris Cyborg.

“I haven’t done anything like this before, which is all the more reason to do this now,” Owerko said in a phone interview.

See:  3 Ways Digital Assets Will Reshape The World

For the Winklevoss twins, who have been two of the earliest supporters of cryptocurrency, the marketplace is a way to tap into an emerging and potentially lucrative market for digital art. Unlike other digital renderings, these pieces are kept track of via digital-ledger technology called blockchain that’s similar to that underpinning cryptocurrency Bitcoin. That means artists can issue limited-edition pieces. The twins predict that the market will eventually be as big as the ones for art, collectibles and gaming digital items combined.

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NCFA Jan 2018 resize - 4 Important strategies to help your business recover from coronavirus The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Raising Capital in a Pandemic World

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Medium | Victoria Bennett | March 18, 2020

fundraising in a pandemic - 4 Important strategies to help your business recover from coronavirus

This week has seen considerable changes in the world, from markets falling, oil prices falling, schools closed, borders closed. We’re moving into a new world order, and this isn’t for a week or two. How can your business stay healthy and grow?

Your company needs to prepare for this new world order. Firstly, look at spending and consider how you can reduce your burn rate? Look at your revenues. What will this ever-changing world do to your revenues? If some taps are turned off, how can you reposition your company to access new revenue streams? Government stimulus funding may help you to access the new revenue streams or pivot.

It’s not all doom and gloom. The 2008–2009 recession founded Uber, AirBnB and Slack, disruptive businesses that took the opportunities in the market. Other companies grew through acquisition and benefited from cheaper assets.

How can you raise the capital to grow and grab the opportunities that the changes with coronavirus bring?

Most outside money, such as Angel Investors or VCs, requires kissing many frogs. You have to meet a large number of people, typically face to face, to build understanding, trust and secure funding.

Last week our company was due to host three investor events. The first one on Tuesday, had over fifty people in Vancouver, the second on Wednesday twenty in Calgary. Then the third back in Vancouver had to be cancelled as the venue went on COVID-19 lockdown. With Social Distancing measures, traditional fundraising needs to be turned on its head.

See:  Funding in the Time of Coronavirus

Crowdfunding may be the solution to raise capital from a large number of investors across the whole country without meeting them face to face. The whole process takes place online, from reviewing the offering documents, signing and paying. It can all take place without any face to face interaction. That provides social distance for the investor, the company’s employees and lawyers.

Crowdfunding works best where you can tell a story because people like to back what they believe in, and that is certainly the case for retail investors. For larger investors, they are often looking for deal flow. A crowdfunding platform can provide both. The video gives you a chance to see the team, and to understand their why? The “why” is vital because that motivates companies through the bad times as well as the good.

It is important to tell your story and make it relevant to the current reality, but you need to be authentic too. Next week we are launching an equity crowdfunding campaign for a pain-free needle. The device is pre-dosed and has an enclosed sharp; therefore, it doesn’t require sharps disposal. In the not too distant future, there will be a need to vaccinate a large global population quickly, without fear of pain, or mis-dosing or sharps disposal in developing countries, and at a similar price to a syringe and vial of the drug. PKA SoftTouch, who developed the device, has a story that is natural and resonates in the current landscape.

Breaking through the noise

It is noisy out there; social media feeds are full of COVID-19 advice and emails acknowledging that every company you have ever dealt with has a COVID-19 policy. This too will pass. Advertising spend is already decreasing. With potential drops in revenue, this does make sense, but the companies that responded best after 2008 were the companies that remained in the market and continued to tell their stories. If you are crowdfunding, it will be easier to get your story out, as you will be competing with fewer companies and lower overall marketing spend.

See:  Getting In Early: SEC Sees Growth In Equity Crowdfunding

We are social creatures; working from home, we may look to other ways to stay connected. Business channels such as Slack, LinkedIn and Zoom and social channels such as Instagram and Facebook will be our source of connection. These are the main outreach channels for crowdfunding. The increase in working from home means potential investors could have more time without the daily commute and be online more, as well.

A webinar will replace the events cancelled on Thursday and this Tuesday. Potential investors have the opportunity to ask questions and gain trust and understanding so that they can move forward to invest. A face to face launch event scheduled the following week will be live-streamed. This will allow a small group from the company to be present and the larger group of interested investors to meet the team and hear the key information.

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NCFA Jan 2018 resize - 4 Important strategies to help your business recover from coronavirus The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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58 Must-Read Remote Work Resources | 50 Great Remote Working Resources

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FYI | Hiten Shah | March 2020

working remotely - 4 Important strategies to help your business recover from coronavirusRemote work is talked about so much and we’re quickly reaching a tipping point.

It’s going to change the way every type of business operates.

Whether a company is fully distributed (remote), co-located in one office or distributed across multiple offices, the way that work gets done will increasingly look like what we’ve been calling remote work.

Remote work will just be called work in the future.

To help with the transition of remote work to broad adoption, we found as many great resources as we could about remote work.

Here are the best resources we came across after scouring the Internet for countless hours.

Research Reports

Dogs. Cats. 180+ remote work tips. Embarrassing remote work stories. How people really feel about remote work. Remote work challenges. Statistics about remote work meetings. Find all this and more in The Remote Work Report: Why Everyone Loves Remote Work.

Buffer’s fully distributed team conducted a survey of 2,471 remote workers which highlights some of the challenges and feelings people have working remotely.

Upwork did a survey of more than 1,000 hiring managers in the U.S. on how Millennials and Gen Z are defining the future of work.

See:  Search The Enterprise Automation Imperative—Why Modern Societies Will Need All the Productivity They Can Get

Google did a survey of over 5,000 employees and also ran focus groups to determine the challenges of working remotely and came up with a set of recommendations they call Distributed Work Playbooks.

TSheets’ survey of remote workers and their employers asked if remote workers are actually working. One thing they learned is that 64% of survey participants say they sometimes take care of personal tasks during the workday.

In the State of the American Workplace report by Gallup they found that 43% of employees work remotely at least some of the time. The full report also contains dozens of other insights about remote/distributed work.

LinkedIn’s 2019 Global Talent Trend report found that “Companies that embrace work flexibility have a huge competitive edge”.

Guides and Blogs

A couple of remote team members on the Trello team gathered advice from 10 remote teams including Automattic, Atlassian, Buffer, Evernote, InVision, Litmus, Stack Overflow and Zapier. They compiled the advice and also dispelled common remote work myths to create this guide titled, Why Great Teams Embrace Remote Work.

The Zapier team created a guide based on their personal experience growing a remote team. It’s called How to Grow, Manage, and Work with Remote Teams. It’s full of stories and lessons they’ve learned working remotely.

The folks at Hubstaff created a highly tactical guide on managing a remote team titled No Excuses: The Definitive Guide to Managing a Remote Team. It’s based on the company’s personal experiences on topics ranging from hiring remote team members to implementing process and documentation.

If you’re on a remote team using Slack, this guide from Ahoy Team is written specifically to help make your remote company culture thrive.

GitLab has created what they call “The Remote Manifesto” which serves as a brief guide of the company’s eight principles for teams that are working remotely.

Lifehacker has productivity focused articles about remote work dating back to 2010.

See:  The Psychological Price of Entrepreneurship

Remote teams heavily use Slack to get work done. They have an independent website as their blog which covers distributed/remote work directly and indirectly.

Owl Labs has created a 360° smart video conferencing camera that’s particularly useful for distributed teams. Their blog is called The Remote Blog, so I’m sure you can guess what their content is all about. And they’ve got a whole section on their website that’s dedicated to interviews with remote workers, including me.

Doist, the makers of Todist and Twist are a fully remote team who have been writing in-depth articles about remote work since 2015.

Upwork is all about working remotely and they’ve got a large collection of articles about how to work remotely.

Miro creates a real-time online collaborative whiteboarding tool. Their articles on remote collaboration will help you learn how to work better and more efficiently with your team.

Hubstaff creates software to help teams measure their time and productivity. Their blog is full of articles with best practices for remote/distributed work.

Notable Articles

If you’ve ever wondered about the history of remote work, you’ll get answers in this article from We Work Remotely.

Software teams are already prone to enough challenges and having a remote team doesn’t make it any easier. This article from Clubhouse will help you navigate the common problems and their solutions for managing remote software teams.

Have you wondered if remote work will ever turn mainstream? The Next Web has your answer.

Naval Ravikant thinks that “We’re going to see an era of everyone employing remote tech workers.” Here’s why.

Mental health is important for all of us, and that’s especially true for remote workers. Amir Salihefendic, founder and CEO of Doist breaks down the impact of loneliness and depression on remote teams.

FYI co-founder, Marie Prokopets, broke down the challenges, opportunities and solutions for successfully doing product work remotely on the Product Craft blog.

Working from home can be tricky, especially when you’re new to it. G2’s learning hub has you covered with their simple actionable guide on how to work from home. If you’re an employer of remote workers, they also wrote a useful article on creating a remote work policy.

See:  Bringing Good Ideas to Life: 13 Modern Ways to Innovate

Kevin Smith, Chief Product Officer of Abstract, describes how creating a distributed workforce helps enable a more diverse culture.

Jason Fried of Basecamp wrote an article about the positives and negatives of group chat, things especially important to understand for remote teams.

Based on the 180 remote work tips we collected, Marie shares 10 practices to overcome the challenges of remote work on the We Work Remotely blog.

In this interview with Wade Foster of Zapier he shares why Zapier went fully distributed and how they manage to get things done as a remote team.

The TimeDoctor team found and compiled research-backed facts to help prove that remote teams are the future of work.

The folks at OwlLabs put together this curated list with 35 of the best Slack communities for remote workers.

Here’s a detailed instructional article on the Paymo blog about how to turn yourself into a remote work pro.

Ryan Hoover, co-founder and CEO of Product Hunt writes about people’s frustrations with remote work.

Payroll and taxes can give managers on remote teams a lot of heartburn. The folks at Groove wrote an informative primer on payroll and taxes for managers of remote workers.

Personal Experiences Working Remotely

Ted Goas dives into the details of working remotely as a product designer at Stack Overflow.

Mike Davidson, a VP at Invision describes his first year of working remotely at the company.

Emilie Schario wrote about her first year at GitLab, including her experience with the practice of “disagree and commit”.

Matt Haughey who has been working remotely for 16 years shares his tips in this detailed write up of his experience.

Caileen Kehayas explains how she discovered that remote work isn’t right for her.

In this brief write up, Basecamp designer, Jason Zimdars shares his take on the benefits of working remotely that are not related to productivity.

Steph Smith describes her personal experience and lessons learned working remotely while sharing her frameworks for thinking through remote work.

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Smash.VC | March 2020

working remotely2 - 4 Important strategies to help your business recover from coronavirus

50 Great Remote Working Resources

We spent weeks reading hundreds of guides on remote working to compile 50 of the best resources that will help startups understand it’s never been easier to manage a distributed team.

The following resources and guides will show you how, and why, you should seriously be considering remote working at your startup.

Working Remotely

It’s Clearly Undefined, but Telecommuting is Fast on the Rise – This New York Times article discusses the rise of the remote workforce and who is a ‘typical’ telecommuter.

10 Good Reasons Why Working Remotely Makes Sense – Ten reasons and examples why telecommuting is here to stay.

Is Your Company a Good Fit for Remote Working? – This CEO lists seven important factors to consider when deciding to create a remote working team.

Why Working Remotely is Better for Business – An argument for working remotely as well as tips for how to do it efficiently and effectively.

The Way to Close Tech’s Gender Gap? – An interesting suggestion that hiring more remote workers could help close the gender gap in the tech industry.

See:  Helping your Employees Manage their Most Sacred Commodity: Time

How SaaS is Driving Remote Working – This post looks at how software is changing what we think of as ‘doing work’.

Why Isn’t Remote Work More Popular? – A post showing why remote work may actually be more common and popular than many think.

One Day Offices Will Be A Thing Of The Past – From Richard Branson himself.

At Automattic Employees All Work From Home And Travel To Exotic Locations – The majority of Automattic’s employees work remotely…and then meet up in awesome places.

Working Remotely Saves Money – Though there a lot of employee benefits with working remotely, companies can also benefit with increased productivity and lower costs.

7 Great Reasons To Encourage Working Remotely – A couple years ago Yahoo! made the move to reel in remote workers to increase productivity. This post shows why working remotely can actually help benefit your team, your business and your bottom line.

How Github Makes Working Remotely Not Suck – Approximately 75% of Github’s 245 employees work remotely. This video explains how they do it.

Remote Work Can Work – While working remotely is an ideal situation for some people, it’s not all rainbows and butterflies.

The Science Behind Why Remote Working Works – Quickly being able to get into work mode and increase employee happiness are just a couple ways remote working works.

Give People The Freedom Of Where To Work – Working remotely has never been easier…if you hire the right team.

Flexible Workspaces: Employee Perk or Business Tool to Recruit Top Talent? – Yes, many employees appreciate the flexibility to work where they want and having that option is a major perk, but it’s also a tool companies can use for their own benefit.

Rethinking Agile In An Office-less World – A call for applying the agile practices of an office-centric world to an office-less world from a partner at 37 Signals.

Why Coworking Is a Hit for Telecommuters and Entrepreneurs – Though people enjoy not being tied to an office, they still like an office space. This post takes a quick glimpse into the world of coworking spaces.

Why Small Businesses Are Building Remote Workforces – Business Insider highlights why working remotely really works – better talent, happier employees and an emphasis on productivity.

Death Of The Office And Rise Of The Telecommuter – A collection of stats and figures proving remote work is on the rise.

For Employers

How To Build a Telework Team That Gets Things Done – A great guide for how to handle hiring remote employees.

5 Reasons Why Your Company Should Be Distributed – Automattic’s CEO shares his top five reasons why you should consider a distributed team model for your company.

21 Months in: How to Manage a Remote Team – This detailed post clearly explains how one company has made the distributed team model work for them and how they continue to manage the business.

Going Virtual: Hiring the Right Team for Remote Work – Another post with tips and examples of how to hire the right people for your distributed team.

See:  Fielding high-performing innovation teams

Are We There Yet? – A CEO who recently transferred his business to a remote working model shares how his, and his team’s, communication has changed for the better.

How to Build and Manage a Team of Remote Writers – Many companies start out with remote employees that work as virtual assistants or content creators. This post from Hubspot details how you should, and should not, go about building a reliable team of remote writers.

10 Essential Tips to Manage Remote Employees – These ten tips for managers are not only effective, but also fun and thoughtful.

Managing Remote Teams: Key Lessons on Hiring, Culture, and Productivity from 4 Top Startups– There’s a ton of information, tips and examples in this post highlighting how four companies have utilized the distributed team model.

From 3 to 16: How to Hire and Build a Remote Team– Insightful tips for building a remote team including defining characteristics of a top-notch remote worker and how to find remote candidates.

Bosses Without Borders: Essential Tools For Managing Remote Workers – A great list of tools including services for time tracking, payroll and invoicing.

How to Run a Company Retreat for a Remote Team – Though you don’t necessarily need to have your team in the same place to work together, it’s still important to put in face time, interacting and getting to know each other on another level.

For Employees

How to Ace a Remote Interview – A great infographic from Hubstaff on how to land the remote job you want.

10 Lessons from 4 Years Working Remotely at Automattic – This first-person account of adjusting to working as part of a remote team is a great read for those just starting to figure out their personal schedule and the way the work best.

Why Cruise Ships are My Favorite Remote Work Location – Ever spent your workday on a cruise ship?

The Rise of the Remote Worker, or How to Work from Home Without Getting Fired – This article from Time is especially helpful for employees who are trying to convince their managers to let them work remotely.

14 Ways Our Remote Team Stays Sane While Working from Home – Whether you’re the founder or last employee hired, working remotely and often from home can make you go a little stir crazy. See if one of these 14 activities will help you battle cabin fever.

5 Tricks to Get More Done While Working Remotely – This post is part personal account, part clever tips for helping you focus while working remotely and get stuff done!

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NCFA Jan 2018 resize - 4 Important strategies to help your business recover from coronavirus The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Comparison of UK banking providers’ fraud controls

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FCA | March 9, 2020

Fraud protection - 4 Important strategies to help your business recover from coronavirusReducing fraud is a priority for the FCA. This page contains information about banks’ fraud controls.

It is intended to enable consumers and consumer groups to compare how banks protect their customers against fraud, and to help consumers to make better informed choices about their banking providers.

The information was provided by UK Finance in March 2020.

What is the firm's approach to fraud protection?

Barclays: 

  • We will protect our customers from fraud, to make it as easy as possible to use our services and when needed, to keep our customers fully informed. We have dedicated teams that are accessible 24/7 should customers need advice or help. We will get customers back up and running as quickly as possible.
  • Fraud PreventionWe will deliver flexible world-class fraud capabilities to prevent fraud. We will use the latest fraud technology to deliver the right outcomes.
  • OUR AMBITION - SHIELDING OUR CUSTOMERS & PROTECTING THEIR ASSETS FROM FRAUDSTERS.

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First Direct: 

  • Fraudsters are constantly becoming more intelligent with the ways they commit crimes. Therefore, protecting you and your money is an absolute priority for us.
  • To better defend you and the wider financial system from financial crime, we are making significant investments in technologies, processes and in our people.
  • We want to ensure that you feel secure and educated against one of the fastest growing types of crime in the UK. So, if you don’t feel sure when speaking to someone you don’t know, or you have received digital correspondence that you aren’t happy about, contact us.

What Fraud protection controls does the firm have in place?

Barclays:

  • Fraud detection systems which monitor transactions and payments on a real time basis. If something looks suspicious, we may try to get in contact and take action to protect the account while a review is carried out.
  • Biometric systems help us track your normal behaviour when you are viewing your account details online. This helps us to try to identify if a fraudster has accessed your account and is used strictly in compliance with our internet banking terms and conditions, to protect your privacy and information about you. We work with external vendors and companies to ensure the contact details you have provided have no unwanted interference before we check a transaction with you.
  • Industry Wide Support - Participation in industry schemes such as CIFAS and Hunter. Phone number checker via the Barclays website so you can check it’s us trying to contact you. Our Fraud teams are available to talk about your account 24/7. Whilst offering protection, we will always endeavour to eliminate interruptions to our genuine customers, enabling them to use their Barclays products freely.
  • Specialist vulnerable teams are in place to help if you have any specific needs or requirements that may affect you running your account and becoming a victim of fraud. We will notify you via SMS or letter when any changes are made to your account.* Warning messages when making online payments to confirm you are confident that you are sending money to the genuine payee.
  • Proactive Messaging which engage with you, notifying you of any changes and how we are actively protecting your account/card. Notification of data breaches from other organisations allows us to keep your data secure. If we are notified that your card details have been breached, we’ll be in touch to arrange a replacement but you’ll be able to use your card until the new one arrives. If any fraudulent activity occurs during this period, you’ll be covered by our fraud guarantee. *there are some exceptions please see the product terms and conditions.

See:

First Direct: 

  • 2 factor authentication for new payees – Our Secure Key gives you added protection against the threat of fraud. It generates a temporary code which you use to set up a new payee. You need your PIN or password, Touch ID, Face ID or Android Fingerprint. It means only you can setup new payees.
  • Real-time fraud detection system – As part of our digital security promise, we’ll safeguard your money by keeping a lookout 24/7 for unusual activity on your account. From time to time we may get in touch with you to check on anything suspicious.
  • One-time passwords – We use Verified by VISA or MasterCard Identity Check Service for online purchases. If we need to check that a purchase is genuine, we will send you a unique 6-digit SMS passcode. The passcode is only used as an identity check and you should never share it with anyone.
  • Transaction monitoring – We may send you a text message to confirm whether a card transaction has actually been made by you or to ask you to contact us regarding possible unusual activity on your account. If you are unsure, please contact the number on the back of your debit or credit card.
  • Helpful hints – Our fraud and security centre on our website outlines key information on what we do to keep you safe and secure online and how to protect yourself.
  • Free Security Software – We recommend you have security software (such as IMB Trusteer Rapport) as well as additional anti-virus software on your PC.

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NCFA Jan 2018 resize - 4 Important strategies to help your business recover from coronavirus The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Revolut lets your purchase gold | SoFi hires Amazon exec to lead deposit, card businesses

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American Banker | Kevin Wack | March 12, 2020

maria renz - 4 Important strategies to help your business recover from coronavirusThe latest high-level hire at Social Finance is a former Jeff Bezos deputy who will oversee the San Francisco firm’s deposit, credit card and brokerage units.

Maria Renz, who spent 21 years at Amazon, joined SoFi on Wednesday as an executive vice president and group business unit leader. She reports to CEO Anthony Noto, who joined SoFi in 2018 from Twitter.

The hiring shows how much emphasis SoFi, which has been building out its menu of financial products, is putting on operations and customer experience.

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Renz has no previous experience in financial services, but she does have an extensive background in consumer-facing businesses that have operational complexities. She joined Seattle-based Amazon in 1999, rising through the e-commerce giant’s ranks and eventually leading a team of 80,000 employees who provide customer service around the globe.

The three SoFi business-unit leaders who now report to Renz all have backgrounds in the financial services industry. Eugenia Gibbons, who heads SoFi Money, the company’s cash management account, is a former BBVA executive.

John Gardner, who leads SoFi’s investment, insurance and advisory unit, was previously a co-founder of the personal finance software firm LearnVest and chief operating officer at Cabezon Capital Management.

And Naga Parvatharajan, who heads SoFi’s credit card unit, formerly worked in Goldman Sachs’ consumer banking division. SoFi’s foray into the credit card business is expected to launch later this year in partnership with Mastercard.

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TechCrunch | Romain Dillet | March 12, 2020

vault door gold - 4 Important strategies to help your business recover from coronavirusFintech startup Revolut has introduced a new trading feature for premium users. Starting today, Premium and Metal users can access gold exposure from the app.

Revolut works with a gold services partner (London Bullion Market Association) so that money you spend on gold exposure is backed by real gold held by this partner. In other words, you’re not going to receive gold coins in the mail. You can just invest money based on the price of gold.

The startup has been building a financial hub and already lets you purchase cryptocurrencies and buy public shares. Gold is part of a new feature called Commodities.

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There are multiple ways to invest in gold. You can purchase gold exposure directly at market price, set a limit price to auto-exchange gold when it reaches a certain price or get cashback in gold for Metal customers.

At any time, you can convert your gold investment back into fiat currencies or cryptocurrencies. If you spend money with your Revolut card and you only have gold, Revolut will use your gold exposure automatically. You can also transfer gold exposure to another Revolut user.

According to the company’s website, Revolut charges a 0.25% markup when you trade gold during the week and a 1% markup from Saturday at midnight to Monday at midnight U.K. time.

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NCFA Jan 2018 resize - 4 Important strategies to help your business recover from coronavirus The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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