Carlos Hank Rhon, Technology and Banking

Online banking is now common and uses computer technology to relieve the consumer of the paper based and time consuming aspects of traditional banking, allowing people to manage their finances efficiently and quickly. With the help of the internet and smart phone technology, explains Carlos Hank Rhon, banks have started utilizing powerful computer networks for automating large numbers of daily transactions, which minimizes the time consuming manual paper work, giving access to many different online banking services to its clients instantly, on demand, at home or at work. Banks are also offering mobile banking options thanks to the rise in mobile smart phone usage.

Mobile banking can offer services such as the following:

• Mini-statements and checking of account history
• Alerts on account activity or passing of set thresholds
• Monitoring of term deposits
• Access to loan statements
• Access to card statements
• Mutual funds / equity statements
• Insurance policy management
• Pension plan management
• Status on check, stop payment on check
• Ordering check books
• Balance checking in the account
• Recent transactions
• Due date of payment (functionality for stop, change and deleting of payments)
• PIN provision, Change of PIN and reminder over the Internet
• Blocking of (lost, stolen) cards
• Domestic and international fund transfers
• Micro-payment handling
• Mobile recharging
• Commercial payment processing
• Bill payment processing
• Peer to Peer payments
• Withdrawal at banking agent
• Deposit at banking agent

With the help online and mobile banking, explains Carlos Hank Rhon, the banks have the power to attract new customers by giving them an opportunity to eradicate time consuming teller interactions and has therefore become a significant competitive weapon in an increasingly over supplied banking environment. This technology allows day to day transactions over the Internet through a secure bank website. With the help of online banking, businesses and individuals can have access to money and banking functions anytime and anywhere, where there is internet access. The primary advantage of online banks is that they remain available all the times, unlike traditional banks, which are open only during established office hours. If the consumer is out of town and needs money, notes Carlos Hank Rhon, then he can log on quickly to his banks website and take care of the required business, such as paying a pressing utility bill. The individual or business can manage and access all of the aspects of bank accounts like CDs, IRA's securities from one protected website. Increasingly banks are using online access to bundle access to stock brokerage and other financial services such as business loans to improve cash flow.

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Other various features are also included with online banking services such as stock quotes, account aggregation, programs for managing portfolio and rate alerts assist the customers in organizing all their assets easily and efficiently. This technology has seen a tremendous increment in usage, as more and more big national banks and various other banks in smaller regions, have started some form of online banking to provide convenience to their customers. In fact, it is rare today to find an established banking institution without a comprehensive online presence.

Hank Rhon: Strategy and Business Planning

An important factor for any business is to come up with a strategy for business, that is an overall plan of action of how the business will work within the given industry and how it will reach the people it needs to reach, explains Carlos Hank Rhon. Strategy is basically the direction and the scope an organization will take over a long term period. From time to time you may also need to rework your business strategy. The basics of a strategy for business is thus:

•     Direction – where the business is trying to get to in the long term
•     Scope – which markets should the business compete in and what are the activities within this market
•     Advantage – how the business can perform better than the competition
•     Resources – what skills, assets, relationships, technical abilities, etc are required for the business to compete such as effective business leadership
•     Environment – what is the external environment that could affect the business’ ability to compete
•     Stakeholders – what are the expectations of the people in power and business leaders in and around the business

These types of strategies can take place at different levels of the business’ life cycle, from the overall business itself to that of the people working in and around the business, explains Hank Rhon. Within these overall strategies are smaller strategies that go along with helping the business to achieve its goals; strategic analysis for example is all about analyzing the business’ strengths in terms of position and how factors can affect this position. Implementing a global business strategy is also important if you plan on going global with your products and services. Visit the Business Planning Website for more information.

The most difficult part of a strategy for business is the implementation, especially when dealing with an established business. Often times, people are unwilling and afraid of the changes that can come from the overall analysis.

Carlos Hank Rhon: Improve Fiscal Management with Online Banking

Carlos Hank Rhon, explains how online banking can assist in improved fiscal management.

Banking services, money, and access to money has become one of the most important necessities for both businesses and individuals in today's society, explains Carlos Hank Rhon. This is mainly because of its significance of being the primary tool for market acquisition used by each individual to purchase products and services for their needs.

Being the primary mode and basis for economic value, it is important for everyone to have a reliable measure for managing their financial issues and concern with the additional option of increasing interest for their business investment. Banking Institutions understand the importance of convenience for their customers and offering online banking services is now standard practice.

In this aspect, the most significant and preferred method of money management for consumers is the banking approach. Because of the trend of increasing demand and preference towards the banking measure, more and more institutions in the financial sector are now offering services that benefit consumers interest in simplicity and convenience.

In addition, their respective services are also developing with greater advantages and benefit for their clients such as higher interest rates, effective assistance services, reliable communication measures, and others. With the introduction of modern computing technology and the internet, online was developed and this technology option has become increasingly popular. Online banking allows businesses and individuals an easy way to track all of their finances. To learn more about online banking benefits, read the article by Carlos Hank Rhon titled, Your Money, Your Business and the Internet.

Carlos Hank Rhon, Investing for the Future

Making plans for your financial future is a very smart move to make according to Carlos Hank Rhon. There are many ways to invest in your future so that you will have all of your financial needs taken care of and be able to enjoy your retirement years. Many people may not think about investing in their futures as soon as they go into the work force. However ,that is the very best time to start considering all of the investment options that are available to you.

If you can start saving your money early, explains Carlos Hank Rhon, you will have an abundance of funds available to you when it comes time to retire which means that you will be able to live comfortably and support your family’s needs.

There are several different investment options which are available to you once you start working. Many employers will offer some type of retirement fund that they will also contribute to. This retirement fund will collect interest as time goes on allowing you to save back more money than you actually deposited into your account. One of the most popular types of retirement plans that are available through most work places would have to be a 401k plan. This plan allows you to borrow from your retirement fund early, while you are still working, once you reach a certain age or if a special circumstance were to occur. This type of retirement plan can be very beneficial to those individuals who may need a little extra help over the years when it comes to paying for their mortgage or making a large purchase such as a new car.

Economy Improving, Businesses Refinance Commerical Loans

In the rough days of the Great Recession business owners hung onto whatever they could regarding their commercial loans, happy being able to make payments in dark economic times. As things are now starting to get better, explains Carlos Hank Rhon, these same entrepreneurs are looking to possibly refinance the same loans, hoping to get better interest rates. It is possible to refinance commercial loan but to get a good deal requires that some criteria be met.

Lending institutions don't just hand out favors and they will not do much for someone who has a poor payment record. Prior to even approaching a lender for refinancing, recommends Carlos Hank Rhon the business owner needs to be sure that all payments were on time prior to the meeting. Business owners should also make sure that all financial statements are prepared properly and are on-hand to present to the lending institution. 

A strong relationship with the bank helps but assurances such as a good cash flow ought to be on the balance sheets. Any penalty points have to be factored into the final deal and a business owner has to be able to show collateral if it is requested. A major concern ought to be with the final deal looks like in writing. If it means having an attorney look at it first prior to signature, that's not a bad idea.

Other lending institutions can be investigated for possible refinancing but their terms may include moving all business to them that may include personal checking accounts as well. A small business owner should not hesitate to review all options in order to get a refinancing. However, it has to be remembered that this is a business transaction and unlike the mortgage refinancing it is not as cut and dried a process.

Carlos Hank Rhon, Economists and Funding for Small Business

Economists rarely agree, but most will admit that small business is a driving force of the American economy and will be for many years to come. explains Carlos Hank Rhon. These entrepreneurial firms are built on the dreams and enthusiasm of people willing to take risks and in turn, providing stimulus to the economy. They do need funding to go from one level to the next and these may not necessarily be traditional banks or lending institutions. There are other options that can be considered, and a smart small business owner should consider as many as practicable.

Venture capital is one possibility. In these situations money is raised by granting cash in exchange for partial ownership of the company, which usually comes in the form of shares of stock. A word of caution, though, is a venture capitalist will play an active rather than passive role in the management company. That is not always a bad situation as many venture capitalists bring with them a wealth of experience and advice far more valuable than their investment in your business.

Government is also a source for financing and the Small Business Administration (SBA) is an excellent source, notes Carlos Hank Rhon. The Administration has a number of loan programs for which a business owner might qualify. There is an application process and funding is not necessarily a given, but it is usually easier to secure a loan from the SBA than a bank. State and local departments of economic development might also have resources available for funding.

A small business owner should of course have strong financial records and balance sheets to suggest continued success. Yet at the same time this person shouldn't feel he or she is restricted to local banks alone. Possibilities are all over for securing funding and with a little homework the small business owner may find exactly what is needed to expand an already successful operation.

Carlos Hank Rhon Banking Advancements

 

Banking has come a long way, even just over the past ten to fifteen years or so. At one time you had to visit your local bank or give them a call during normal business hours in order to find out how much money was currently in your checking or savings account. These days you can find out this information in just seconds at any time of day with just a click of a button, explains Carlos Hank Rhon. Online banking provides benefits for businesses as well as for individuals.

Thanks to advancements in banking technology such as telephone banking, online banking and mobile banking we are now able to track our spending habits more accurately than ever before. Now, explains Carlos Hank Rhon, we are able to keep track of what funds are currently available in our checking or savings account just by making a simple phone call, logging onto our online account or using a smart phone device in order to gain quick access to mobile banking.

 

Telephone banking has been around for many years and it is still widely used today by many banking customers. This automated system allows you to call and check your balance at any time throughout the day even if the bank is closed simply by entering in your account information over the phone. Online banking allows us to go to the bank’s online website and access our checking accounts online which provides us with many more user options than telephone banking and mobile banking is the newest addition to banking technology that gives users more access than ever before by use of their smart phones.