Take Control of Your Money With These 5 Budgeting Sites and Apps

Talking about money is a major taboo in countries and cultures around the world, and the UK is no exception. While discussing finances with friends and family can be nerve-wracking, staying quiet about how we earn, spend, and save contributes to poor financial literacy. As a result, many of us never learned how to budget when we were young. Once you start earning a real paycheque, though, learning how to manage personal finances is crucial. Thankfully, budgeting sites and apps can help even the most novice beginners get a handle on their spending habits.

Here are five of the most helpful free and paid money management sites you should go to for budgeting tips and UK banking advice.

1. Yolt

Yolt is one of the best-known budgeting apps in the UK. It’s an open banking platform that lets you see all your linked accounts on one dashboard and track your spending from each of these accounts. You can also use the app to set budgeting and savings goals, transfer money securely to friends, and track your finances based on your payday instead of a calendar month.

The most unique part of Yolt is its stealth mode, a feature that camouflages your real balances and account information from prying eyes. Activating stealth mode will alter your standard currency and randomise other info while still allowing you to show what the app’s interface looks like.

The downside of this app is that you can’t use it on the web, only on a mobile device. There’s also a delay before transactions register in your account, meaning you can’t quite view things in real-time.

2. Money Dashboard Neon

The original Money Dashboard was a pioneer in the world of budgeting sites, but they’ve since scrapped the old interface and come out with a brand new app—Money Dashboard Neon.

Like other budgeting apps, Neon lets you connect your bank accounts to track them all in one place. It also allows you to break your spending into different categories and build a custom budget. Users can even sync their pay cycles for more accurate budgeting and schedule automatic payments through the app.

The downside of Money Dashboard is that to keep their app free of charge, they sell user data to third parties. Even though they anonymise the data and promise not to release your identity, this could be a deal-breaker for more security-conscious folk.

3. Moneyhub

The Moneyhub personal finance app is a bit different than the others on this list because it requires a paid subscription. The organisation’s reasoning, though, is that they’ll never sell your information to third-party buyers—something that’s very important when we’re looking at banking. The subscription won’t set you back much, just 99p per month or £9.99 per year, and the security is well worth the cost.

Moneyhub’s other standout features include an overview of all your financial accounts, detailed analyses of your spending, and the ability to set spending goals for yourself. You can also use the “nudge” tool to avoid missing a payment and get notified of ways to save.

What sets Moneyhub apart from the rest is the “forecast” feature. With this tool, you can add in a theoretical change to your budget (such as getting your car repaired or going on holiday) and see how it will impact your future finances. This empowers you to spend wisely and never be caught off guard.

4. Cleo

Have you ever wished that your bank accounts came with a financial advisor who would tell you exactly when you can and can’t afford something? With Cleo, the AI budgeting app, your wish can come true.

Cleo uses a healthy dose of sass and millennial humour to give it to you straight. If you’re trying to decide whether going out for a pint is a good idea, ask Cleo. She’ll analyse your current account balances and upcoming expenses to tell you “absolutely not” or “yes, but then you can only spend £15/day for the rest of the week.”

If even that isn’t enough to keep you from opening your wallet, you can always ask Cleo to roast you. She’ll come back with a flurry of memes and drag you for your financial choices (or begrudgingly admit when you’ve done a good job).

5. Emma

Emma may not be a budget planning app, per se, but it does make saving and sticking to your budget a lot simpler. Emma is, as the founders say, a “fitness tracker” of sorts that watches your transactions instead of your heart rate.

This app links directly to your bank accounts, investments, and credit cards to provide a real-time view of your entire financial state. The main feed on the home screen includes easy-to-understand summaries of your account totals and upcoming reminders. Deeper inside you can find detailed analytics, information about all of your linked accounts, and a money-saving tool that helps you find better deals on recurring bills.

Emma is unique because it applies the concept of gamification to your money. The app prompts you to complete “quests” that will help you understand how to use all of its features to the fullest. If you need more robust features than the free version provides, you can upgrade to a “Pro” account at any time.

Give These Budgeting Sites a Try and Take Control of Your Finances

Curbing your extra spending and understanding where your money goes doesn’t have to be painful. These budgeting sites make money easier to understand and—dare we say—can even make budgeting fun. If you’ve ever had questions about how best to direct your dollars or just want to see your finances displayed in an intuitive format, give one of them a try today.

The way you budget and spend your money is important, but where and how you save it has just as much of an impact. Take a look at this article for help deciding whether a commercial or investment bank is more in line with your financial goals.

Investing in the Good: The Impressive Rise of Impact Investing

Societal issues continue to get the media’s attention as many people take the fight a notch higher for a better society. But it’s all for a good cause because society starts to see good changes taking place. 

As usual, investors want to be part of the change. They’re now focusing their efforts on opportunities geared towards supporting social goals. This is where social impact investing comes in. 

Business is no longer all about making financial gains. It now involves environmental and social impact with its actions. Yes, investing is growing financial returns but for more noble causes such as the betterment of society.

Read this article and understand everything you need to know about global network impact investing and why it’s growing so fast. Let’s get started.

Understanding Social Impact Investing

If you’re new to this concept, it can be quite complex. Any information on the subject only gives rise to more questions. You can blame this on insufficient data available on the subject matter. There is not much information concerning impact investing and its profitability to either the investor or society.

But then, what exactly is impact investing?

Impact investing simply means unleashing the power of capital for everyone’s good. The main goal of this kind of investment is to generate positive social and environmental impact as well as make some financial returns.

Don’t get it confused with charity donations and social foundations. While both are geared towards helping society, impact investing is more of a win-win situation.

Impact investment focuses on helping society make some capital through your business. The capital would then address some challenges in society. Both the investor and society benefit in equal measures.

The funds usually go to noble causes such as renewable energy, environmental conservation, sustainable agriculture, and accessibility of basic services like education, housing, and healthcare. Anything deemed helpful to the environment and society calls for impact investing.

The Growth of Impact

The idea of investing with intentions beyond financial returns isn’t a new concept. There are many faith-based organizations working in accordance with their values of a better society. Catholic and Islamic organizations started this kind of investing a long time ago, and it looks like it’s not going anywhere.

The only thing that makes this intentional investing look like a new concept is that it has been known for a very long time as corporate social responsibility, sustainable investing, or socially responsible investing.

Companies have measured their performance not only on financial lines but also on how they perform along the lines of social, environmental, and corporate impact. The performance is more focused on these dimensions and how the company aligns with its values and social goals.

The type of investing is often referred to as a ‘double bottom line.’ The organization focuses on financial goals as well as its environmental and social impact. All these are aligned with their sustainable development goals.

A Growing Focus for Investors

While this kind of investing is still at its infancy stages, many global investors are continuously getting involved. Companies are coming up with their own impacting investing funds. It seems like something very lucrative in the business world as well as a noble course in society.

The Global Impact Investors Network (GIIN) estimates up to $228 billion in assets associated with impact investing firms. The figures show that this sector of the economy has been seeing tremendous growth over the past years.

Impact Investment Returns

As usual, no one wants to buy a dying horse. So, is impact investing really profitable? This is a question that many financial consultants have had to deal with many times. Of course, any serious investor will ask this question before making any kind of investment regardless of how noble it looks.

Some business people have subscribed to a common misconception that any double-edged business is doomed to fail. By this, they mean that any business that focuses on social impact and financial return will yield low returns.

Some researchers have strongly disputed this belief. They have proven that anything that is good for the environment and society is good for business. Others have proven the existence of a good relationship between investing in social, environmental, and governance with corporate financial performance.

There is a lot of evidence proving that impact investing is profitable to both the society and the organization.

Impact Investing Challenges

Like any other business, impact investing has its own share of challenges. It’s crucial to understand the challenges that come with any kind of investing and prepare for the risks involved.

This kind of business is also subject to the rules of the marketplace. The first challenge with impact is the difficulty in finding companies that meet the stringent requirement and still stick to the market rate of return.

Many businesses fail to meet all these two goals. The few that manage have to go extra miles to use additional resources and deal with great risks. You should trust your financial advisor to give you a better explanation of the challenges and the risks associated with social impact investing.

The Growth If Yet to Come

From the look of things, impact investing will continue to grow, and in the years to come, it will be the trend in the business world. The kind of investment has gained traction in the eyes of investors, and that’s all it needs to see success.

However, the future of this kind of business depends on the understanding that people will have on it. Everyone must learn to differentiate it from the philanthropic way of charity giving. You must understand that charity is no longer the only way to make a difference in society.

Now you have some knowledge of impact investment even though the concept is still complicated. Do you want to learn more about issues regarding investment, running a business, and managing your finances? Feel free to view our website for more educational blogs like this one. 

Two Weeks to go for the 1st VIRTUAL Edition of Global WoodShow: 7 – 9 September, 2020

31 August, 2020: The first virtual edition of Global WoodShow is all set to take place from 7 – 9 September, 2020. Exhibitors and visitors will be able to avail an umpteen amount of benefits such as reduced participant cost, networking with elite industry experts, promotion of brand scope and portfolio digitally, increased return of investment, direct networking and chatting opportunities between exhibitors and visitors, exclusive deals on offer and strong opportunities to close business deals with serious buyers virtually.

Two Weeks to go for the 1st VIRTUAL Edition of Global WoodShow: 7 – 9 September, 2020

To ease the B2B meetings, video meetings shall be conducted through the platform which will allow the participants to easily connect and put forward their ideas and best practices. Keen exhibitors seeking an incomparable chance at attaining global exposure can launch their latest products and technologies. 24 hours of online interaction will be provided by the WoodShow portal which will cater to all your immediate inquires. For any queries, participants can interact with agents through the live chat or browse through the questions (FAQs) on the portal.

Visitors can register their virtual visit through the following link: https://event10x.com/event/woodshow-global/register?registerAsParticipant=true and attend the show from 9:00am to 6:00pm daily (Dubai time, GMT+4).

The Global WoodShow is the leading destination for wood specialists, professionals, entrepreneurs and key leaders from over the last 15 years. Their premium shows have been running successfully across Dubai, Cairo and Gabon covering Middle East, North Africa, Western and Central Africa with 100,000+ Visitors, 500+ Exhibitors and brands and 100+ participating countries.

Global WoodShow

Acknowledging the ongoing circumstances of the current global crisis creating uncertainty, travel bans and restrictions, The Global WoodShow aligns with all precautionary measures and has initiated a safe virtual exhibition to encourage business continuity and continue supporting the wood and woodworking industry. Participants can engage in a virtual business-to-business meeting place for the wood, wood accessories and woodworking machinery industry. Suppliers, manufacturers & machinery companies can showcase their products, innovative technologies, production scenarios and large-scale machinery virtually.

Mr. Dawood Al Shezawi, President, WoodShow Global Organizing Committee said, “The WoodShow promises to provide a high-quality annual business event that will offer abundant opportunities to industry professionals. It will be a valuable experience as we bring key decision makers from the industry to you. This virtual platform will gather exhibitors from countries around the world with no travel hassle. You will not only be able to interact with your suppliers safely but also open up new doors to reactivate your business.”

Find out more at http://www.woodshowglobal.com/

5 Key Differences: Commercial Bank vs. Investment Bank

Are you looking into what type of bank will be perfect for you? Deciding between a commercial bank vs. investment bank can be a complicated question. 

Luckily, we’re here to help. Keep reading, and we will discuss the five key differences between commercial banks and investment banks. 

1) Services

First, its important to consider the services the two provide. They offer different things. 

If you’re looking to underwrite new debt and equity securities, selling securities, pilot mergers and acquisitions, reorganizations, and or broker trades, then an investment bank is for you

On the other hand, if you’re in the market for individual loans, small business loans, checking and savings accounts, and or certificates of deposit, then you’re looking for a commercial bank. Most people are probably most familiar with commercial banking for their checking and savings accounts. 

Have you figured out precisely what services you are looking for? Large scale or small scale? 

Great, now that we’ve got that covered, let’s look at what kind of expenses and fees we are looking at. 

2) Expenses and Fees

While the dollar amount isn’t a distinguishing factor, it does show some differences. The fees are how the banks make their income. 

Investment banks typically deal with more significant dollar amounts due to having bigger corporations as clientele and higher monetary amounts in investments. Commercial banks handle basic financial transactions, which can get higher in monetary amounts, but usually equally a lesser amount of money. 

Investment banking comes with a set of fees due to the level of risk involved. The fees differ from firm to firm, but some of the potential fees could include:

  • Retainer fees
  • Upfront fees
  • Expense reimbursement
  • Success fees 
  • Minimum fees
  • Engagement fees

So what does this all cost? A monthly retainer typically doesn’t go lower than $5,000 a month. The retainer is what secures the investment bank and covers their cost as well as the risk they are taking on. 

Commercial banks also have their own sets of fees. They typically range much lower than that, though. 

Commercial bank fees vary based on account fees, safe-deposit box fees, and late fees. Some examples of potential account fees could be:

  • Monthly maintenance charges
  • Minimum balance fees
  • Overdraft fees
  • Non-sufficient funds charges

You’ll also run into more fees when it comes to loans, but it depends on the different kinds you’re considering. 

Now that we’ve got that covered, who exactly uses which type of bank?

3) Types of Clientele

Are you looking at banking options for an institution or for yourself? 

Well, big investment banking clientele can vary depending on the scope of need or based on the client. Some examples of big investment banking clientele are:

  • Corporations
  • Pension funds
  • Other financial institutions
  • Governments
  • Hedge funds

Large investment banks can also serve as financial advisors or brokers for institutions or companies. 

An investment bank could also offer retail operations for smaller individual clients.

If you’re reading that and saying, “Nope, not me!” Then you could line up with the commercial bank clientele more so than the investment bank.

The clientele of commercial banks primarily comes from individuals using personal checking and savings accounts, or through personal loans. Basically, ordinary people who are looking for standard bank needs. 

Through loans and earning interest income from investments, commercial banks make their money to provide new business loans. 

You now know what services are offered, how much it could cost, and if you fit their clientele. Did you consider the regulations that come with commercial banking and investment banking?

Don’t worry. We’re covering that next. 

4) Regulations 

All banks have some set of regulations to follow

Government authorities like the Federal Reserve and the Federal Deposit Insurance Corporation regulate commercial banks.

Commercial banks are insured so they can maintain customer account protection. For example, some can cover up to $250,000 deposits. 

Investment banks aren’t regulated nearly as much as commercial banks. The Securities and Exchange Commission governs them. This means their clients have less protection, but and gives the bank more operational independence. 

Because of the regulation difference, investment banks have higher risks associated with them. When you use an investment bank, you assume the risk, whereas commercial banks work in the interest of their clients. 

5) Banking Examples

You may be thinking great, now I know some difference, but can you help me out with some examples?

You got it! 

Have you heard of JPMorgan Chase, Goldman Sachs, Morgan Stanley, Credit Suisse, or Deutsche Bank? These are examples of large investment banks. 

Commercial banks in the United Kingdom could include HSBC, Royal Bank of Scotland, Lloyds TSB, Barclays, and Santander. 

Some banks could combine the functions of a commercial or investment bank. This could aid in the sales of an IPO or increased trading. 

This isn’t crucial to dive into, but worth noting. 

Some of the employees you can expect to run into in a commercial bank include tellers, sales associates, trust officers, loan officers, branch managers, and technical programmers. Whereas in investment banking, you’ll probably deal with an investment banker directly. 

So, Where Do You Go From Here?

Now when you ask the question commercial bank vs. investment bank, you have the ability to make an educated decision.  

From offering different services to helping different types of clientele, the kind of bank you choose will be a choice you make based on your unique set of needs at the time. Luckily, you have plenty of resources to turn to. 

If you’re interested in learning more about the finance and banking world head to CFI.co.

5 Huge Reasons to Trust Your Financial Advisors

1 in 10 adults in the UK are turning towards financial advisors to help manage their money and investments wisely. 

A financial advisor is a trained professional who can help you get the most out of your dollars. They help you know where to invest to get the best returns. And also how to manage your finances to meet your goals. 

Taking advantage of financial advisors can be a game-changer for many people. But often people put off asking for help and advice in this area. 

We’ve put together the top five reasons why you should work with a personal financial advisor. 

1. Training and Education in Finances 

The first reason that you should work with and listen to a financial advisor is that they likely have more knowledge about the subject than you do. 

A trusted financial advisor will often have certification beyond their college education. This certification will be earned by completing various educational requirements and then passing an exam covering the things they’ve learned. 

The economy, market trends, and predictions, and even the worth of a dollar are things that are continually changing.

Financial advising educational systems will give these professionals the training necessary to keep up with all the changes. Not only will they be able to keep up, but they’ll also be able to explain things to you in a way you can understand. 

And from there they can give you sounds, steady advice based on the information they’ve been given about your situation and the current economic standings. 

You can certainly take a DIY approach to managing your finances, but you may lack the knowledge and training to do it successfully. 

2. Time to Dedicate to Watching Markets

In order for investing to be successful and make you money, you have to buy the right stocks at low prices and then sell them at higher prices. This requires you to watch the market to know when things are low and high. 

Timing is everything in making money from investments. 

It takes consistent effort on a daily basis to be able to see trends throughout the market. The average person doesn’t have a lot of spare time lying around to watch for and interpret the trends they’re seeing. 

Instead, you could put your confidence in a financial advisor whose job it is to watch and understand the market trends. 

These professionals often spend a significant amount of time keeping themselves informed and in the loop of what’s going well and what’s not in investing. They’ll have a  better knowledge of things to buy and what to sell. 

You could half-heartedly make investing decisions in your spare time or you could leave those up to the professionals. 

3. Keep Complicated Situations Organized 

The traditional economy of a single income household has been changing rapidly over the last decade. Now many people rely on side hustles and secondary jobs to earn all of their income. 

While all of these sources are great for your bank account, they can make your financial situation a little more complicated. 

It can be hard to keep everything straight and have a good comprehensive view of your financial state. This requires you to keep detailed records of what’s going in, what’s going out, and any other changes to your account. 

The best financial advisor for you will be one who understands your situation. They’ll be able to keep things organized for you and give you advice on how to use your money the best way. 

They may also be able to help you make sure you meet tax or other legal requirements based on their better understanding of the laws in your area. 

4. Know How to Work Towards a Goal

Most people have some kind of financial goal they’re working towards, whether they realize it or not. It could be to save for a down payment on a house or pay off some unwanted debt. Or maybe it’s as simple as not wanting to feel stressed about their money situation. 

If you have a goal in mind to help your financial situation, it’s a great time to work with a financial advisor. 

A lot of times the outside perspective of someone unattached to your situation can make a big difference in making a solid plan. They can show you weak spots in your spending and other ways you could save. 

You can come with questions to ask a financial advisor for a professional opinion. This helps you to make the best choices for your family. 

Working with a financial advisor may also give you the motivation and determination to make better choices. Almost like a new level of accountability to keep you honest!

5. Less Worry During Life Changes

Our lives are always changing; we move, change jobs, add to our families, and acquire new assets. All of these things (and many more) change our financial situation. 

A financial advisor will be able to help you navigate through all of those major changes. 

They’ll be able to give you advice on how to adjust the way you spend, save, and invest in order to best fit your new needs. They can help you amok he necessary changes to continue on your way to more financial freedom. 

It can be very stressful to have to deal with change in your life. There are so many unknowns regarding how things will actually look in the future. 

Eliminating as much stress as possible will help the transition be much smoother; this can be done by working with a financial advisor. 

Following Your Financial Advisors Advice 

Speaking with financial advisors and getting their thoughts and advice is the first step to greater financial success. 

But the most important part of that success comes when you act on the advice given. Taking action on the investments and opportunities presented will give you the best results. 

If you want to learn more about financial advisors, good investment practices, or other wealth management tips, check out our blog for great advice! 

Why Biden or Trump must urgently secure stable relations with China

Joe Biden or Donald Trump – whoever is the President of the United States come November, their ultimate challenge is to secure “stable relations” with China which would win an all-out trade war, warns the CEO of one of the world’s largest independent financial advisory and fintech organisations.

The warning from Nigel Green, chief executive and founder of deVere Group, comes as Mr Biden prepares to give his official acceptance speech on Thursday night to the Democratic National Convention to become the party’s nominee to run against Mr Trump on November 3.

Mr Green says: “Managing China and maintaining America’s fragile economic superiority over its major trade and commerce rival will be the defining foreign policy issue of this presidential election.

“Both the Democratic and the Republican candidates seemingly share a belief that ‘being tough’ on China — or whoever can knock China the most effectively– is going to do well with the electorate.

“Both Biden and Trump will up the China-bashing between now and November 3.”

He continues: “Whilst this strategy might be a political weapon to win the White House, whoever does become the next CEO of the world’s largest economy will have a golden opportunity to secure stable, normalised relations with China.

“And this should be high-up on their agenda.

“Cooperation will benefit both nations by helping to boost global economic growth, encourage investment, secure jobs, keep prices down for consumers, reduce unfair or illegal economic, commercial and technological practices, reduce poverty and environmental problems, and contribute to stopping human-rights abuses and military interventions.”

But there is another major reason, says the deVere CEO, why moving towards amicable relations with China cannot go unmet by the incumbent or the challenger.

“A de-escalation in U.S.-China tensions must be a top priority for whoever is in the Oval Office because it can be very reasonably assumed that China will win an all-out trade war.

“Why? Because America’s trade deficit with China is frequently over-estimated and barely gives it the upper hand.

“Also, China’s central bank — unlike the U.S. Federal Reserve — is not independent and can be made to cut interest rates to bolster domestic demand and devalue the currency to make Chinese exports even more competitive.

“In addition, China is better positioned than America – which has a record budget deficit – to help out industries hit hard by a trade war. 

“Plus, the ruling Communist Party of China can take the political impact of a trade war better than whichever party wins in the U.S. 

“The leaders of China don’t need to play popularity games.”

Mr Green concludes: “Whoever wins the U.S. presidential election must seize the momentum that a win gives a political leader and immediately seek amiable relations with the world’s second-largest economy.”

UnionBank, Lazada and Mastercard launch the Philippines’ first e-commerce credit card

Add to card everything you love with exclusive online shopping rewards

Manila, Philippines, August 8 – Union Bank of the Philippines (UnionBank) and Lazada Philippines, together with Mastercard, have launched the all new UnionBank Lazada Credit Card, the country’s first e-commerce credit card that makes online shopping even more rewarding.

UnionBank, Lazada and Mastercard launch the Philippines’ first e-commerce credit card

The new UnionBank Lazada Credit Card is the only credit card that allows cardholders to directly earn up to 6x Lazada wallet credits from their online spend at Lazada – the highest earning rate among other credit cards in the market.

Every P200.00 spend at Lazada purchases earns cardholder with P6.00 Lazada credits. Meanwhile, cardholder earns P1.00 for every P200.00 on all other purchases outside Lazada.

“As the country’s leading digital bank, we’re truly excited about this new partnership because we believe the new UnionBank Lazada Credit Card will enable us to serve the growing needs of Filipino shoppers in this rapidly changing digital economy,” said UnionBank president and CEO Edwin Bautista.

During these uncertain times, UnionBank Lazada Credit Card gives customers a new safe and secure payment option for their online transactions. As another testament to UnionBank’s digital banking technology, the UnionBank Lazada credit card also introduces a new virtual credit card – which cardholders can use for online transactions without waiting for the physical card to be issued.

The cardholder will receive the virtual card, activate and use it to make online purchases immediately once application is approved. The virtual card can be viewed safely through the UnionBank Online app, with security controls including biometrics and one-time-password (OTP).

A physical card will also be delivered to cardholders for their face-to-face, point-of-sale transactions.

It is a privilege to collaborate with UnionBank as we work towards creating a secure and inclusive digital economy in the Philippines. With more people turning to the Lazada platform to meet their needs, the new UnionBank Lazada Credit Card will empower Filipino customers to get more value from their purchases as they embrace a cashless digital lifestyle,” said Ray Alimurung, Lazada Philippines’ Chief Executive Officer. 

“We’re excited to partner with Lazada Philippines and launch this newest co-brand credit card with the highest earn rate of up to 6X rewards at Lazada. Especially in this digital age and in the backdrop of limited mobility due to the global pandemic, more and more shopping is done online, and this card is the perfect product to use at Lazada. The more you shop at Lazada, the more you earn credits,” added Ana Delgado, UnionBank Consumer Finance Center head.  “I invite everyone to experience how UnionBank Lazada Credit Mastercard makes adding to cart and checking out a rewarding experience. So add to card now!”

“Mastercard is pleased to partner with the country’s multi-awarded digital bank and the top e-commerce platform in Southeast Asia to deliver more value to Filipino e-customers. The UnionBank-Lazada Credit Card is a demonstration of Mastercard’s global expertise in co-brands and its continuing commitment to bringing digital solutions that enable a seamless and secure shopping experience online,” said Rowell del Fierro, country manager in the Philippines for Mastercard.

On top of that, cardholders need not compute for any point conversion. Earned rewards are in the form of peso value credits, plus earned credits can be conveniently transferred to the cardholder’s Lazada Wallet using their UnionBank Online app with just a few clicks, anytime, anywhere.

Enjoy exclusive shopping benefits at Lazada with the new UnionBank Lazada Credit Card! Get P5,000 Lazada Wallet credits as a welcome gift when application is approved for a UnionBank Lazada Credit Mastercard (Terms & Conditions apply).  Enjoy free monthly shipping of up to P50.00 and free discount vouchers of up to P250.00 during their Mega Sales (birthday sale, mid-year sale, 9.9, 11.11. 12.12). Special discounts and exclusive sales also await cardholders from Lazada.

Apply now and start a new digital shopping experience at Lazada with the new UnionBank Lazada Credit Card at www.unionbankph.com or www.lazada.com.ph. Get ready to #AddToCard everything you love at Lazada’s 8.8 Shop Local Bounce Back Sale on August 6-8 and show your support to homegrown brands!

Importance of Virtual Data Rooms

Virtual data rooms are becoming popular with time. Their need has shown a sudden rise over the past couple of years. As the business world is expanding, so is the competition that comes along with it. Competitors are in search of each other’s weak points. Nobody wants to see anyone standing ahead of them. You never know who is preying on your confidential documents secretly. A single leak of any piece of information might cause your company to suffer a huge loss. You need a system that keeps all your files and records secured so that nobody has any chance to break into your files. With the introduction of virtual data rooms, this problem has been solved. Virtual data rooms provide you with a highly innovative platform that serves as a warehouse for your files.

Importance of Virtual Data Rooms

Gone are the times when you had to keep a hardcopy of all your business-related files. Keeping files in hard copy is not safe at all. Moreover, many businessmen are so busy with tight meeting schedules that they are often seen forgetting important files at home or end up misplacing them. This causes inconvenience at the time of work. With virtual data rooms, all your files are saved online and with just one click, you can have the file in front of you.

Data Room provide you with all the safety you want with your documents. There is no chance that someone gets into your stuff. You can only share the files with specific people. This keeps your documents under tight security and ensures that there is no preying eye out there, spying on your documents.

You do not have to carry your documents in a hard drive or mail to someone over the email. Now with the virtual data rooms, you can share the documents with anyone around the world with just one click. It doesn’t matter which device the other person might be using or which country they are in, they can always get access to the documents within seconds.

In case you couldn’t conduct a meeting in person with your employees, you can start a meeting using a data room. This ensures that no amount of time is wasted and all the employees can be a part of that meeting.

With virtual data rooms, you do not have to worry about the size of the file that you intend to upload. You can upload bulk files at one time. The sizes of the files can vary. All kinds of files can be uploaded within no time, provided you have a fast internet connection. The files can be shared with anyone irrespective of the size.

Virtual data rooms are an organized file management system. Your files are well managed and organized in a proper manner over there. You do not have to go through a bulk of files to find that one single file anymore. With virtual data rooms, all your files are displayed with just one click.

Follow the Money: What Do Investment Banks Do?

There are several different types of banks and institutions out there. By knowing what these banks do and how they differ, you’ll be able to improve your financial literacy and make better investing decisions. 

So, what’s an investment bank? And what do investment banks do?

An investment bank essentially acts as an intermediary institution that performs a variety of services. The majority of investment banks specialize in complex and big financial transactions. These kinds of banks help businesses make financial decisions and raise the capital they need. 

But there’s a lot more to it than just that. Are you interested in learning more? If so, then continue reading and we’ll walk you through everything you need to know!

How Do Investment Bank Works?

There are two main divisions of investment banks worth knowing about. The first is the advisory division, which is paid a fee for their work. There is also the trading division, which realizes losses or profits based on their performance in the market.

A person who works in an investment bank might have a career as a salesperson, trader, or financial advisor. While a career at an investment bank could be lucrative, it typically also involves a lot of stress and long working hours. 

Investment banks are best known for their financial intermediary roles. This means that they help businesses issue new shares of stock in an initial public offering (IPO). They also assist businesses to obtain debt financing by attracting investors for corporate bonds. 

The role of the investment bank starts with counseling before the underwriting process even starts. It then continues after the securities are distributed as they continue to offer advice. 

Investment banks also look at the accuracy of the corporation’s financial statements and they write papers that explain the offering to investors. The clientele of investment banks tends to consist of:

  • hedge funds
  • governments
  • corporations
  • other banks
  • pension funds

Many investment banks tend to use their size to their advantage. The more well-connected an investment bank is, the more likely it’s going to profit. It does this because it’s better able to match sellers and buyers. 

Many large investment banks have customers all over the world. 

What Do Investment Banks Do?

Investment banks perform a variety of functions. Often, they will act as the financial advisor to powerful institutional investors. An investment bank is supposed to be a trusted partner that provides strategic and useful advice on all kinds of financial matters. 

They’re able to do this by combining their ability to evaluate and spot investment challenges and opportunities along with understanding the desires of their customers.  

Investment banks also deal with mergers and acquisitions. During this process, the job of the investment bank is to determine the value of a possible acquisition and to help the parties come to a fair price. The bank will also help with executing and structuring the acquisition so that they can ensure that the deal goes as well as possible. 

Research is another important service that investment banks deal in. The research divisions of these institutions review companies and then write documents about their prospects. They will usually include “buy,” “sell,” and “hold” ratings. 

Although the research won’t bring in revenue on its own, the information that they come up with is used to help traders and sales. Investment bankers also get publicity for their partners and clients.

The research is also going to act as investment guidance to outside customers. This will hopefully get the clients to take the advice and execute a trade via the trading desk of a bank, which will then lead to increased revenue for the bank.

The research division is what powers an investment bank’s ability to conduct quantitative analysis, credit research, macroeconomic research, and fixed income research. All of this will then be used both externally and internally at the bank.  

Underwriting Deals

Investment banks will usually underwrite deals while they’re also arranging capital markets financing for their customers. This means that they manage the risk that comes with the process of purchasing the shares of stock from the issuers and selling them to institutional buyers or the public. 

Investment banks purchase shares at one price and then add a markup to the sale price. This brings them a profit that makes up for the risk that they’re taking on. This is also known as the underwriting spread

There will usually be a head investment banker who works with a group of investment bankers. This group is referred to as a syndicate and they all work together to underwrite an issue. This helps to spread the risk out among everyone. 

An underwriter will sometimes just play the part of a go-between for marketing deals. They help to market the stock but don’t take on the risk that comes with underwriting. When this happens, the investment bankers will be able to sell shares and get paid on the basis of commission. 

The Importance of Knowing About Investment Banks

Hopefully, after reading the above article, you now have an answer to the question, “what do investment banks do?” As we can see, investment banks tend to work with large institutions and perform complex deals that can involve enormous amounts of money.

And even though many people might not directly interact with an investment bank, the actions that these banks take can affect a variety of people, especially those who invest. And by knowing how these banks operate, you’ll be better to make more informed and confident financial and investing decisions.

Are you wondering if now’s a good time to invest? If so, then make sure to check out our other articles for more!

UBX appoints new Chief Investment Officer

In line with its strategy to explore and invest in companies and platforms of the future, UBX—the Fintech and Corporate Venture Capital arm of Union Bank of the Philippines (UnionBank) — is announcing the appointment of Matthew Kolling as the company’s Chief Investment Officer (CIO).

UBX CIO Matthew Kolling
UBX CIO Matthew Kolling

As CIO, Kolling will be managing UBX’s Corporate Venture Capital (CVC) fund. He will also play a key role in raising capital for UBX while assisting the company in key corporate transactions, including the structuring of joint ventures and acquisitions.

Prior to his appointment at UBX, Kolling has been Head of Venture Investments at Aboitiz & Company since 2019, wherein he had been working with UBX on investment portfolio decisions. Before that, he held senior positions in Private Equity, Venture Capital, and Investment Banking at firms such as Providence Equity Partners and Morgan Stanley in New York.

Kolling has more than 20 years of experience in managing investments and deals in the Technology and Telecommunications industries and is active in Venture Capital and startup communities in the Philippines and the Southeast Asian region. He currently chairs the Manila Angel Investors Network, among others.

“We at UBX are excited to welcome Matt as our new CIO. We firmly believe that Matt will be instrumental in driving value creation opportunities, both within the CVC fund and our corporate ventures. We look forward to working with him as we fulfill UBX’s vision of a future where banking services are embedded into everyday experiences that matter,” said UBX president and CEO John Januszczak.

Meanwhile, UnionBank president and CEO Edwin Bautista said, “The addition of world-class talents in our pool reinforces our strategy to future-proof the organization and our business as we prepare for many new opportunities that come with the changing times.”