ReleaseWire

With exclusive content from industry experts, comprehensive 2013 news highlights, the definitive breakdown of social media use in FS, interviews with thought leaders from across the industry, and profiles of leading banks, the Retail Banker Industry Report 2014 is a must have for anyone involved in the global retail banking industry.

Social media presents a valuable opportunity for retail banks. As internet access and smartphone adoption increase, a growing number of internet users are becoming involved with social networking. Companies are changing their business models and product offerings to be able to cater to the ballooning market of social media users. Banks and other financial institutions are engaging customers with social media, which is shaping up as a strong channel to promote new schemes, identify customer needs and receive feedback. Although the use of social media remains risky territory for many banks, some have started to explore opportunities in this channel and have set out many best practices examples that can act as guiding principles for other banks and financial institutions. A primary question plaguing the banking industry on the use of social media concerns return on investment (ROI). There are doubts over the credibility of social media as a key component of business models due to a lack of tools to measure quantifiable results. The potential benefits are more of qualitative in nature. Despite initial skepticism by retail banks, social media is expected to emerge as a complimentary channel, rather than replacing existing channels such as television and newspapers. Financial services companies use various channels to market products and services, and consumer opinion is now measured as an aggregation of experiences across these channels. Over the next five years, banks are expected to focus more on synergies that can be generated by social media and other key channels, rather than calculating ROI in the social landscape.

Once again, the employees of Financial Resources Federal Credit Union spent much of the Holiday Season doing their part to help those less fortunate in the community while making the Holiday season a little brighter for area children. As part of the Credit Union’s “Show You Care” Program, employees volunteered their time to a number of worthy causes:

Owning a restaurant is one of the most favorable options. However at times, the business that is new or in a downfall is in dire need of cash. A restaurant cash advance from a reliable source is one of the safest options to help a business lift up and get going to improve sales. Restaurant Cash Advances provides merchant sales program to holistically scale the restaurant business and enhance vital areas that need cash rescue.

Everyone struggles with money at some time in their lives. Frequently, they are placed on a “no account” list that is distributed around to banking institutions. This makes sense for the banks, but can make everything extremely difficult for consumers. This new website (http://checkingrelief.com) provides consumers with a list of reputable financial institutions that will allow people who have had trouble to get a checking account.

The SpendSmart Payments Company, a provider of prepaid payment programs, announced today it has agreed to acquire SMS Masterminds ("SMS Masterminds"), an innovator in the rapidly growing mobile marketing industry. SMS Masterminds provides SMS-based Mobile Loyalty Solutions primarily to small and medium sized businesses, addressing a worldwide mobile advertising market forecast to reach $11.3 billion in 2014, according to eMarketer.

Advanced Merchant Group, headquartered in suburban Philadelphia, has become an industry leading provider of payment processing solutions. Over the past 12 years, Advanced Merchant Group has helped business owners to process over $16 billion in sales transactions. Serving a vast number of business types, Advanced Merchant Group has developed an expertise in helping online and store-front businesses. Whether it is developing a store loyalty card program or offering a business cash advance in PA, Advanced Merchant Group does it all. Now, Advanced Merchant Group is offering small business owners a unique and efficient alternative to traditional loans.

CRMnext, #1 CRM solutions company in Asia has announced big wins in the banking, insurance and financial services space in last 6 months. These multi-million dollar wins has made CRMnext the most preferred CRM solution in the banking, financial services and Insurance space. It has won mandates from the thought leaders in the BFSI space which includes HDFC Bank, Max Life, TATA AIA, Bajaj Finance, Fullerton, India Infoline, Reliance Capital and many more. Jointly these implementations would count for over 1,00,000 users.

Applying for a business loan, a business line of credit, or a merchant cash advance these days is slowly starting to become an easier process, thanks to private and alternative business funding sources through business cash advance companies such as, Business Finance Advance LLC. A spokesperson for this merchant cash advance and alternative business loan service business, recently stated, “We have been conducting business within the business loan and merchant cash advance industries for roughly twenty years. While we have witnessed many high’s and low’s within the financial industries, general speaking, we have been able to carefully create specialized business loan programs, merchant loan programs, and other existing business financing alternatives for struggling business owners ranging from small businesses to large corporations. As we understand that small business owners create the majority of new jobs when the economy is bad, we take great pride in helping this particular set of individuals as they are the driving force behind economic recovery”. Considering that most small business owners are very aware that banks are still holding back a substantial amount of credit even with the government offering incentives to major banks to assist small business owners with business loans, small business loans, and working capital loans, many are horrified at the thought of applying for any type of business funding as they are almost certain that they will not get approved. What many business owners are not aware of is that there are many different options for obtaining commercial financing through business loan alternatives such as- - Business cash advances, Merchant cash advances, and Merchant loans - Long term working capital loans and short term working capital loans - Accounts receivable loans, Purchase order loans - ACH loans and Credit card receivable loans - Equipment finance buy backs and equipment equity loans Within these mainstream business financing alternatives, there are numerous options and programs from secured business loans, unsecured business loans, bad credit and poor credit business loans. With the numerous different funding options business owners can take in order to receive the cash they need to be able to run, maintain, and/or grow their business, many are still literally scared away by the thought of the amount of paperwork and substantial collateral normally needed by big financial institutions in order to acquire a business loan or business line of credit. BFAdvance, or Business Finance Advance, created a new proprietary business loan application technology that allows existing business owners to simply fill out a quick form online that assists with matching a particular business’s financial needs to one of their many different alternative business funding programs. Business owners can try their new and proprietary business loan application technology through their VIP section of their merchant cash advance company website at – http://vip.bfadvance.com About Business Finance Advance LLC- BFAdvance, specializes in the business finance and merchant account services industries, and has been doing so successfully for roughly twenty years. Providing their clients with some of the best business funding programs available, affordable merchant account services and merchant cash advance programs, in culmination with their exceptional customer support, along with their particular skill sets and twenty plus years of knowledge for business financial services, they are considered one of the best merchant account services and business loan companies in the industries they thrive in to this very day. For more information on their professional business funding and merchant cash advance services, please contact – Business Loans - Merchant Accounts - Merchant Cash Advances Business Finance Advance LLC http://www.bfadvance.com Call- 1-888-979-3688

Right when you think you understand credit card processing and have the perfect merchant account for your business, you get the call that you have been shut off…Consider yourself lucky, many merchants don’t even get the courtesy of a phone call. Merchants are processing transactions one day and then wake the next to find that they have no processing options. This is happening more and more and it’s going to get worse before it gets better...

OBS E-commerce Consulting provides a great opportunity to establish an internationally based business and minimize the high tax burden. It offers everything for an offshore business like training, offshore bank account, offshore cards, offshore merchant accounts and E-consulting.

Richard Dragotta, Branch Manager of “The Paramus Branch” is proud to celebrate the 10th year with LPL Financial. Having founded the branch a decade ago, Dragotta left the wirehouse model he knew and loved for his first 10 years in the industry and ventured to the mysterious, obscure and unknown model of the independent platform of that time. “A decade sure goes fast when you’re having fun. As a manager and an advisor at some of the largest wirehouses on Wall Street I felt a crack in the dam. Culturally things seemed to be changing for the industry and for many firms, so I went with my gut and took a chance. I guessed right not just on the future of the industry but finding a great partner in LPL Financial” says Dragotta.

OBS E-commerce Consulting Ltd, the UK’s leading offshore service company, is now assisting its customers with new offshore company formation without any direct or implied tax.

OBS E-Commerce Consulting provides detailed information on the advantages of offshore company formations and helps clients form one with ease.

MIDsource offers HIGH RISK MERCHANT PROCESSING for a wide range of industries. With an extensive network and banking relationships domestically and internationally, we pride ourselves in our ability to obtain direct merchant accounts (MIDS) and aggregation solutions for high risk merchants worldwide.

Rapid Financial Services, LLC (DBA RapidAdvance), one of the nation's leading providers of short term financing to small businesses, today announced that they have introduced a new program to provide small business owners with working capital within 24hrs. RapidAdvance’s new Rapid Funding Platform enables small business owners who are approved for capital to access their financing the next day.

Building a 'winning' retail bank demands significant investment in three core areas: branch banking, core modernisation technology and mobile money. Allied with a long-term vision, commitment from senior management and an environment that fosters innovation, a retail bank can outsmart and outperform its competitors. The single most important attribute that unites winning banks is the expansion of branch banking because they recognise the branch is the foundation of the customer experience, and when they get this right, they can start to achieve operational excellence and grow market share. Core modernisation technology comes in second place and this requires considerable investment. For example, Commonwealth Bank of Australia (CBA), one of the 'winning' retail banks in the report, invested A$1.1bn ($1.18bn) in its new core banking platform. However, core modernisation technology delivers efficiencies. Already, CBA expects cost savings by the end of FY2012 because of its investment. Finally, the world's winning retail banks have harnessed innovation in contactless payments and targeted the mobile channel as a battle point between them and their competitors.

Aloha Pacific Federal Credit Union has selected TRC Interactive, Inc., the nation’s leader in interactive financial institution training, to deliver First Line of Defense ~ Fraud Detection and Loss Prevention Challenge, an online interactive experiential exercise for banks and credit unions that helps keep their staff sharp, focused and alert to the latest scams.

Bedford Federal Savings Bank has selected TRC Interactive, Inc., the nation’s leader in interactive financial institution training, to deliver online instruction through BankTrainingOnline for its bank-wide training needs.

Collegedale Credit Union has selected TRC Interactive, Inc., the nation’s leader in interactive financial institution training, to deliver First Line of Defense Fraud Detection and Loss Prevention Challenge, an online interactive experiential exercise for banks and credit unions that helps keep their staff sharp, focused and alert to the latest scams.

Collegedale Credit Union has selected TRC Interactive, Inc., the nation’s leader in interactive financial institution training, to deliver online instruction through CreditUnionTrainingOnline® for its credit union-wide training needs.

Western Vista Federal Credit Union has selected TRC Interactive, Inc., the nation’s leader in financial institution training, to train its staff with TellerSolutionOnline.

2011 was an eventful year, with banks having to deal with the prospect of tougher regulation, the challenge posed by new entrants, and a stagnating mortgage market. 2012 will be just as fascinating, with lending set to come under further pressure and mobile banking predicted to become a mainstream channel, among other developments.

Terme Bancorp, Inc., CEO, John G. Yedinak, announced today that the company would begin initiatives to participate in the global electronic currency transaction markets through affinity relationships with various entertainment, athletic, corporate, social, and government entities.

Farmers Exchange Bank has selected TRC Interactive, Inc., the nation’s leader in interactive financial institution training, to deliver First Line of Defense ~ Fraud Detection and Loss Prevention Challenge, an online interactive experiential exercise for banks and credit unions that helps keep their staff sharp, focused and alert to the latest scams.