finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

In the first half of 2021, NFTs generated a whopping $2.5 billion sales and it’s no surprise considering digital artists such as Beeple jumped on the bandwagon, selling an NFT of his work for a massive $69 million.

With the popularity of NFTs - and for that matter, the opportunities associated with NFT trading - showing no signs of decreasing, more and more people are looking to get involved. But, due to the complexity and newness of NFTs, many have no clue where to start.

Brad Wilson, CEO of NuPay Technologies, talks to Finance Monthly to offer a complete guide for those looking to get started with NFT trading.

Step One – Educate Yourself Completely on What NFTs are

The media hype around NFTs has got most of us excited – the thought of being able to bring in additional revenue following two years of economic uncertainty is music to our ears. But you shouldn’t let the attractiveness of NFTs cloud your vision. You need to commit time and energy to understand exactly what NFTs are or there’s little chance of success.

What are NFTs? NFTs are basically digital collectables that have been transformed into verifiable assets so that they can be traded on the blockchain. They are tokens that people use to represent ownership of unique items and often involve intellectual property rights, though it’s important to note that this isn’t always the case.

They are called non-fungible tokens because they represent things that have unique properties and therefore are not interchangeable for other items. For example, some of the most popular NFTs right now are:

Whilst they can be used for almost anything with a unique property, they are most popular amongst those in the creative and entertainment sectors.

Don’t worry if you’re not operating in those sectors though, it doesn’t mean NFT trading won’t work for you.

Step Two – Identify What Type of NFT Trading is for You

NFTs have a huge gambit. The possibilities are endless and the NFT marketplace is adaptable to so many different mediums and contents of life – there really is no real limit.

That being said, it’s not for everyone. Before you even begin ‘giving it a go’, you need to identify whether you can and want to commit to it, and in what way.

There are three main types of NFT trading you can be involved with:

  1. Buying and Selling NFTs

This is realistically one of the simplest and easiest ways to get started with NFT trading. It requires little time from your end as you are trading already developed digital assets rather than developing your own.

A point worth noting here is that you’ll need to be familiar with how cryptocurrency works. NFTs are purchased via specialised marketplaces online using funds from your digital wallet - there are a few marketplaces out there that allow flat purchases or credit cards, but they are few and far between. This means you’ll need to not only create a digital wallet that supports NFTs, but you’ll also need to be prepared to fill it with cryptocurrency ahead of your purchases.

You can buy and sell NFTs online via specialist marketplaces or apps. There’s a new platform coming soon, PRISM, which is also a great marketplace for artists to trade and they accept cash - credit cards are on the horizon too.

Remember, all transactions are recorded on the blockchain and only once the sale is verified will the NFT appear in your wallet.

  1. Purchasing NFTs as an investment

Though purchasing NFTs without the intention to sell isn’t necessarily a direct form of trading, it’s still an option for building up a digital asset portfolio - and one which might be more suitable for those who want to dip their toes into the market before going full steam ahead.

Although no one knows what value an NFT will have over a period of time, there are a few research methods available to the investor which can help decide which NFT to buy. Community is a big factor for some. You may want to consider whether the community is organic and whether they care about the project.

Another consideration is who created the NFT. Is it an anonymous individual or organisation? Is it a reputable brand or a famous artist? Do the developers have transparent and realistic plans for the project? Conducting due diligence is crucial to avoid scams and rugpulls.

A few other things to consider when purchasing NFTs with no intention to immediately sell are:

  1. Creating and Selling NFTs

Creating and selling NFTs isn’t one to approach lightly. Yes, it can be very profitable, but it doesn’t come without understanding the market and knowing exactly what to expect.

You’ve heard the saying “if you fail to plan, you plan to fail” right? Well, it’s even more true in the world of NFT trading. The first place to start with planning is documenting the type of NFTs you are able to and want to create and sell. From here, you’ll be able to identify what capacity you have to create them and how many, on average, you can create and sell each month.

Next, goal setting. Everyone loves goals and science has proven they are effective in helping us stay motivated. Just remember, it’s likely that if you’re a sole creator, you’ll need to be involved in the creative process, delivery and bookkeeping, so you’ll need to keep your goals to a manageable standard.

Lastly, research your audience and which NFTs are selling well at the moment. Just like with any business, having an audience and market research to hand will aid your business’ development.

  1. Choosing the right software for NFTs

Depending on your goals, it could be worth investing in some software. If you do plan on creating more ‘classic’ style art, for example, looking into software that allows for photoshopping, animations, and graphic design could benefit you. However, if you are looking at working in the metaverse or creating video game assets you would be better off looking at different software. Many current software providers are expanding their services to include the NFT space, for example, Adobe, who are launching new NFT functions within photoshop.

If this is something you are unsure about, there are learning platforms everywhere. Taking a Masterclass, or simply watching some YouTube videos can help you disseminate what will work best, and it will also help you broaden your knowledge.

In terms of trading NFTs, you shouldn’t need any pieces of software to successfully do this. The same goes for creation of NFTs - you don’t need additional software to be successful.

Step Three – Understand Your Tax Responsibilities

When it comes to tax responsibilities surrounding NFTs, many fail to understand exactly what they need to declare. As a result, taxes are largely unrecorded. Though in the US, officials are slowly working towards keeping track of all of this, it’s still heavily reliant on the individual person to keep close records on their dealings.

The bottom line is, digital currency is still money that you possess. And as NFTs use cryptocurrencies and are recorded via the blockchain, they are reportable transactions that need to be declared.

The best way to get a grip of the situation is to manage the record-keeping and organisation of trading from the very start. You have to be organised and you have to have a plan in place to keep track of your incoming funds and outgoing funds. It’s critical to note all the income you’re generating, costs that you’re incurring - from minting fees to listings to logistics - and also wider development costs that you may have internally.

NFT tax payments are part of a new landscape. The good thing is that NFT marketplaces are taking steps to assist, offering solutions that support tax filing and providing information on what’s required for tax filing. You see, NFT marketplaces are trying to be as compliant as possible with government regulations, contrary to popular belief.

Be Prepared for Challenges

It’s vital when first starting out that you manage your expectations and prepare yourself for the challenges ahead.

 

About the Author

Brad Wilson is the Founder and CEO of NuPay Technologies. With over 30 years of investments experience and the FinTech landscape, he is now driving professionals to pave the way in the blockchain industry. He has grown Climb Investment’s portfolio year after year, and NPC has become one of the largest card processing companies in the state of Ohio under his leadership. Now at the helm of NuPay Technologies, Brad has enlisted a spectacular team of like-minded, driven professionals to deep dive into the world of blockchain technology and NFTs!

This is critical since there's a big difference between shopping for groceries and shopping for a policy that will give you the best possible benefits. It is important to note that life insurance is a long-term investment which could either leave you with scraps or help you overcome the challenges that you will be facing as you retire.

As you look towards securing your future, you will have to go through the nitty gritty of comparing the best product to get.

Check out this nifty guide that will help you make the best possible choice.

Get quotes

There are a lot of life insurance companies out there that seem to offer the same types of products. But it's worth noting that there are slight differences in terms of the coverage they offer. The only way for you to notice these differences is to ask for quotes. From these, you can have a better view of the best features of each one. For instance, comparing a comprehensive life insurance quote from Allstate with its nearest competitor can help you focus on those features you want the most.

There are a lot of life insurance companies out there that seem to offer the same types of products. But it's worth noting that there are slight differences in terms of the coverage they offer.

Zero in on the cost

The first thing to consider as you shop around for a life insurance policy is the cost. No two companies have the same rates, so it makes sense to choose one that's affordable. Then again, the policies you are looking to purchase might entail hidden charges and fees. You will find yourself paying more for these hidden charges before your policy matures. The best thing you can do is to ask the agent if there are additional fees you need to be aware of.

[ymal]

Ask about payment options

Traditionally, insurance holders pay their premiums in person through an authorized agent. This system is slowly giving way to automated and flexible payment options that benefit busy people. When comparing life insurance policies, it's important to know if you can take advantage of various options for topping up your premium, making recurring payments, and setting up electronic transfers using credit cards or platforms like PayPal.

Underscore your coverage needs

Lastly, you will need to know if the policy you are purchasing can help secure the best benefits, whether you're opting for whole life or term life coverage. To make the best possible decision, you might want to consider factors like your age, income, and current lifestyle. Apart from this, you will need to see if you are able to build cash value in the long term on top of death benefits. Making such estimations can help you settle on a policy that ensures long-term coverage and allows you to access the cash value throughout the policy's lifespan.

For many people, choosing a life insurance policy is as intimidating as it is necessary. But with the right approaches, it's possible to find a life insurance policy that can support you in the long run.

Those wishing to invest in property this year need to be aware of the emerging markets and demographics in order to make the best decisions.

Here, you will discover the ultimate real estate investment guide to purchasing property in the year ahead.

Which areas should you focus on?

Not all areas of the UK are facing a tough property market. In fact, some areas are positively thriving. If you want to ensure you are making the right investment, there are certain locations throughout the UK that you should be focusing on.

Birmingham is a key area currently experiencing adequate growth. It is experiencing significant infrastructural developments and has seen a drastic increase in the level of inward investments. It is thought the city is going to witness a 14% growth over the next three years, making 2019 a great time to invest.

Newport in South Wales is another area to consider. Out of all of the UK council areas, the town has been recognised as the 9th largest in terms of increase in house prices. According to local estate agents, there are waiting lists of buyers looking to invest in the area. This means, if you want to invest in Newport, you are going to need to be patient.

Other key areas experiencing a strong property market include Trowbridge in Wiltshire, Northampton, Leeds, Leicester and Coventry.

Which sectors are performing well?

In terms of which sectors to invest in, there are a couple of market trends to pay attention to this year.

Due to economic uncertainty, the rental market is expected to rise significantly over the next year. However, changes in legislation have led to many buy to let landlords pulling out of the market. Further changes set to be introduced in the form of the Tenant Fees Bill on June 1st, 2019, could potentially push more landlords to leave the market. This means, there will be a higher demand for private rental opportunities. Investors who have the funds could therefore significantly profit from buy to let opportunities.

Auctions are also going to play a large role in the property market. Investing in property from an auction house enables investors to potentially snag a bargain. More sellers are likely to turn to auction houses, particularly if they require the funds quickly.

Overall, the property market has proven how resilient it can be in recent years. There may still be a lot of economic uncertainty, but as you can see above, some areas and sectors still remain lucrative to investors.

How does development finance work and what are the criteria? Below Gary Hemming at ABC Finance explains the ins and outs of project financing and development loans in the property sector and beyond.

  1. What is development finance?

Development finance is a type of short-term, secured finance which is used to fund the conversion, development or heavy refurbishment of property or properties. Property development finance can be used for a range of different building projects but tend to be used for ‘heavier’ projects, which require serious building works.

Projects which require ‘lighter’ works, such as internal refurbishment are likely to be better suited to a bridging loan.

  1. How does it work?

Development finance can be more complex than residential mortgages, with funds advanced upfront and then throughout the build.

Funds are initially advanced against the value of the site, with most lenders happy to advance up to 60-65% of the value.

Once the build has begun, further funds are released at agreed intervals, with lenders often willing to advance up to 100% of the build costs. In order to agree to each stage release payment, the site will be re-inspected by either a lender representative or monitoring surveyor. If they feel that works are being done to a high standard and there is sufficient value in the site to release the next stage, funds will generally be released quickly.

The reinspection and further staged drawdown are then repeated until the project is completed.

  1. How is the interest paid?

The interest is retained by the lender as each stage is drawn down, meaning there are no monthly payments to make. When the development is complete, the loan is redeemed along with any interest that has accrued.

This generally suits both the borrower and lender as cash flow can be difficult to mage during a build. As such, the removal of monthly payments makes the loan easier to manage for all parties.

  1. How much does it cost?

The rate charged will depend on several factors, with the main ones being

Larger loans of say £500,000 or above will usually be between 4-9% per annum depending on the above factors.

Smaller loans of say below £500,000 will usually range from 9-12% per annum however if the deal is strong you could pay around 6.5% per annum. Usually, lenders price each application individually.

In addition to the interest charged, the will usually be a number of other fees, the main ones are:

  1. Understanding the maximum loan available

Property development finance lenders use a number of key metrics to calculate the maximum loan, they are:

The lender will combine all 3 of these metrics to calculate the maximum loan. Where there is a conflict between the 3 figures, the lower of the 3 will be chosen to cap the loan.

  1. What happens when construction works are complete?

When the works are complete, the loan will generally need to be repaid. Often, people look to refinance to a term loan such as a mortgage or switch to a development exit product whilst the site is sold as this can be cheaper than the development finance, maximising profit.

The facility will be set up to last for only the build period, with a grace period to allow time to refinance or sell. Development finance should never be used as a long-term finance solution.

John Mould, Chief Executive Officer of ThinCats, shares his thoughts with Finance Monthly on the ins and outs of loan grading, also known as loan scoring.

Credit scoring in the wider world is well documented, and loved and hated in equal measure. But when it comes to accurate analysis in the alternative finance industry, there is huge variability across the platforms.

Because the direct lending industry is relatively young within the finance sector, few platforms have had the chance to build up data-rich, seasoned loan books to use for developing risk prediction models. As a result, many rely on scorecards developed using information from the wider UK universe of companies, partner with credit reference agencies, and use a mixture of off-the-shelf credit risk scorecards, their own metrics and human judgement.

Commercial Credit Data Sharing (CCDS) is expected to kick off later this year; a scheme launched in April 2016 that requires nine major banks to share credit information on all their (willing) SME clients, furnishing finance providers, including alternative lenders, with a wealth of current account and credit information not previously available. This is expected to provide a considerable uplift in the accuracy of credit scoring models over time, and hopefully will facilitate the alternative finance industry in serving a host of currently overlooked smaller businesses.

However, it is not as simple as just having access to information; not all grading systems predict the same event. Some are calibrated on publicly-available data, to predict formal insolvency events; others are trained to predict all forms of company closure, insolvency and dissolutions; still others are trained on proprietary (i.e. not publicly available) customer data, including events such as late payments, not necessarily associated with insolvency, as practiced extensively by the main banks. This is the current challenge that data scientists face: building risk models that predict very specific outcomes; accurately reflecting investors’ experience of risk and return, but also affording borrowers fair and objective assessments.

ThinCats has allocated a considerable amount of time and resources to these issues, and the company is in a position to give UK SMEs more than just a number crunching, ‘computer says no’ experience, whilst also protecting the interests of the lenders.

As a secured lending platform, investors’ risk exposure and net returns are driven by both default risk and the ability to recover capital given a default. The ThinCats grading system makes the distinction between these two risk components, providing every loan on the platform with two grades; a number of security ‘padlocks’ and credit ‘stars’.

In order to produce these relative gradings, multi-layered processing models have been developed in-house. The credit grading model consists of an in-depth analysis of the company’s financial health, the ‘Hybrid Financial Score’ and its dynamism, the ‘Dynamic Score’. These scores are combined through multivariate analysis of the observed levels of insolvencies within the calibration data set (approx. 500,000 borrowing companies in the UK) to give a rating of one to five stars for each applicant. Over time, specific information about P2P defaulters as a differentiated segment, will be integrated into the model.

This is complimented by the security grading, represented by a maximum of five padlocks and determined by the asset to loan ratio, based on the value of the borrower’s assets relative to the outstanding loan amount. All loans listed on the ThinCats platform are then professionally qualified by the credit team.

This all combines to produce an award-winning analysis of information, ensuring that businesses looking for loans are given a fair and balanced hearing, and that investors know that each loan has been thoroughly assessed and vetted based on the most accurate information available; a complex system, but one that proves beneficial for borrowers and lenders alike.

In today's low interest rate environment, leverage remains the smart option for financing mid-market acquisitions. For starters, it satisfies the corporate desire for enhanced returns on equity and cash conservation. Moreover, the competition for deals among established lenders and the many recent entrants into the market has driven down loan pricing and diversified product offerings making a tailor-made solution more achievable than ever before.

Lee Federman, Partner in the Banking and Finance team at law firm Dentons, here sets out some of the key issues borrowers should be aware of before embarking on a search for the right financing arrangements.

Evolving lending landscape

While established clearing and investment bank lenders remain active, they have been increasingly limited in their activities by regulatory and capital constraints. This has allowed debt funds such as Ares, Alcentra and KKR, to increase their market share with fixed income becoming the strategic asset of choice for investors. For a higher coupon, specialist debt funds have been able to offer increased leverage, larger bilateral commitments and greater covenant headroom and flexibility. So called 'challenger banks' such as OakNorth and Metro are also increasingly visible, particularly at the smaller end of the market.

Cost of funds

The primary financing consideration for a borrower will be the overall cost of funds. Lenders' 'all in yield' will likely include a fixed margin (set over LIBOR or EURIBOR potentially ratcheting up or down in line with the borrower group's prevailing leverage), arrangement fees payable at closing and any other periodic fees such as commitment fees on working capital facilities. Fees will also arise if a hedging product such as a cap or collar is purchased to protect against fluctuations in the underlying interest rate.

In a market currently suffering from a lack of M&A activity, strong borrowers often negotiate with debt providers in parallel to create the competitive tension needed to push down pricing and improve terms – specialist debt advisory firms can further facilitate this process.

Cash retention

Cash retention will also be at the forefront of the CFO's mind. Banks typically expect at least part of their term facilities to amortise quarterly to aid deleveraging and reduce refinancing risk. Some debt funds however may allow a more relaxed amortisation profile or potentially even a single bullet repayment at maturity. Debt funds rely on a stable coupon to satisfy their investors' return requirements and are often comfortable for available cash to remain in the business for reinvestment and income generation purposes.

Mandatory prepayments

All lenders will expect their loans to be immediately prepayable upon a change of control of the borrower or where it becomes unlawful for the lender to continue to lend. Debt funds may however be more relaxed than banks on mandatory prepayments out of net disposal or insurance proceeds and also in relation to the annual excess cashflow sweep after debt service (the amount of which is usually determined in line with leverage levels).

Financial covenants

Borrowers will have to comply with up to four financial covenants on an acquisition financing, each of which is designed to test its financial health and serve as an early warning sign if its condition starts to deteriorate:

It is important that the financial covenant related definitions in the loan documentation conform to the agreed financial model and the expectations of the CFO. Each of these financial covenants (with the exception of the capex covenant) is tested quarterly looking back at the results from the last 12 months.

In the current competitive lending market, some lenders may be willing to drop some of these four covenants (‘covenant loose’) or all of them (‘covenant lite’) – the latter is however still fairly rare for mid-market deals

Equity cures

Strong borrowers will seek to negotiate the right to inject new equity into the structure to cure an actual or potential breach of financial covenant and stave off any potential lender enforcement action. To the extent acceptable to the lender, such new money will likely be limited in usage and amount. At least part of it will also have to be applied in prepayment of the loan.

Negative covenants

Negative covenants are another key part of a lender's credit protection. They are designed to restrict the borrower from undertaking certain actions which may cause value leakage out of the borrower's group (e.g. disposals, acquisitions, debt incurrence, distributions to shareholders) and are subject to a set of pre-agreed exceptions and monetary baskets. The borrower will focus on these exceptions more than any other area of the loan documentation to ensure that it has appropriate flexibility to operate unfettered in the ordinary course of its business and to implement its business plan and growth objectives.

Security and guarantees

Lenders' principal downside protection comes in the form of asset security and guarantees. Typically, lenders will expect to receive security and guarantees from entities in the group representing at least 85% of the earnings, turnover and assets of the relevant group (including share pledges over all material entities). On cross border transactions, local lawyers should always be instructed as early as possible to identify any issues in or limitations to the grant of security or guarantees and a set of agreed security principles should be drawn up.

Financial information

Lenders will always expect a raft of detailed financial information. Monthly management accounts, quarterly financials and annual audited financial statements will be required along with quarterly financial covenant compliance certificates. Borrowers will further be expected to provide a budget, financial model and give an annual presentation on the on-going business and financial performance of the borrower.

Acquisition diligence

Lenders will not typically undertake their own diligence on the target company but they will expect to be able to rely on all due diligence reports prepared for the borrower. This supplements the representations provided to them in the loan agreement. The lender will also expect to be kept informed on the negotiations on the acquisition documents and to receive copies of the signed versions as a closing condition to the loan.

Article 50 has been triggered, Brexit has well and truly begun. While the European Chief Negotiator for Brexit, Michael Barnier, would like negotiations to be completed within 18 months, the market characterised by economic and political uncertainty looks set to continue long into the future. So how should businesses behave? Michael Gould, CTO and Founder of Anaplan, sets out a five point guide to making the most of your business in such scenarios.

With all this in mind, businesses need to ensure that they are prepared for every eventuality. We’ve already seen shifts in exchange rates and with knock on effects such as price rises and likely regulatory and even workforce changes, there are a host of factors which businesses should already have on their agenda as having the potential to impact their organisations. With Brexit now in full swing, here are my top five tips for wrestling business success from the jaws of economic uncertainty.

  1. Stop Waiting

With so many politicians, academics and economists each throwing in their two cents on Brexit it can be hard find any clarity around the real outcomes of Brexit. A recent survey by the Bank of England has shown a modest pick-up in UK investment, but businesses are still holding off on some longer-term investment due to a lack of visibility around future trading relationships. Whilst it’s tempting to hold fire on any serious decisions and adopt a ‘wait and see approach’, it could result in falling behind competitors and losing market share.

Staggeringly, our research revealed that two-fifths of businesses are yet to begin planning for Brexit. Avoid having to play catch up: take the time to gain an understanding of all the potential outcomes of Brexit and start from there. For example, businesses could use planning tools to simulate the impact of fluctuating exchange rates, or plan for potential scenarios on trade deals and tariffs. Another option is to explore different models of economic growth. A sensitivity analysis can then be run based on these projections, with the aim of mitigating risk and helping to plan for making the most of any opportunities.

  1. Spot the opportunity

There’s no denying that the Brexit vote has brought an unprecedented level of uncertainty to the UK’s economy, but there are some forward-thinking businesses that have seen change as an opportunity to gain a competitive advantage, and adapt their services for changing consumer requirements. In fact, our research shows nearly one in three (29%) business decision makers say that the choice to leave the EU has already positively impacted their organisation. These uncertain times can be a chance to drive operational improvements or increased revenues.

The key is to identify the opportunities early. Once you understand where the openings are, success will emanate from effective planning. This means having a real-time view of the business and the market as a whole, and being able to react quickly to the slightest change. A good mix of teamwork and the right technology are vital here.

  1. Take Control

To begin with, the success or failure of this transition will come down to the quality of leadership. Informed and confident business leaders will help engender a more positive attitude across the organisation. Our research found that many employees (40%) believe that knowledge and guidance should come from the CEO. But there’s a lack of faith: only 20% of respondents actually trust their leaders to provide this expertise. An effective leader inspires in times of change and uncertainty. Those at the helm of the organisation must seize the moment, take control of the situation, and crucially, be seen to be doing so by their employees.

  1. Collaborate

Strong leadership from the top is vital for any business strategy, but collaboration throughout the planning cycle is just as important. Involving employees from different teams, disciplines and levels across the organisation will bring new ideas to the table, ensure everyone is bought into the strategy, and deliver a more robust approach moving forward. In uncertain times employees will value open communication and inclusiveness even more.

  1. Adopt a Data-Driven Approach

While strong leadership and collaboration are both crucial to business success, companies must have the correct tools in place to take action, or they will struggle to adapt. With this in mind, it is surprising to see that so many British businesses are still relying on technologies that were developed over 30 years ago to plan in today’s market: pen and paper (58%), email (81%), Excel (86%) and Word (80%), to name a few. They simply are not fit for purpose anymore.

The data that a business produces has to be seen as one of its most valued assets. Organisations need to take full advantage of it and use the insight to make the most relevant and informed decisions. In such a volatile market, real-time data is invaluable. For instance, managers can use their company’s data to accurately simulate the potential outcomes of any decision, and forecast the possible impact.

Unfortunately, there isn’t a step-by-step guide or a defined roadmap for what the world will look like post-Brexit. However, businesses can make sure that they are ready for every outcome, modelling and planning for all possible futures. Organisational and cultural factors will play their part in ensuring that businesses are making the most informed decisions. But, those that also take a data-driven approach with the latest technologies will be a step ahead, and ready to take advantage of every opportunity in a dynamic and shifting economic market.

DH Corporation (TSX: DH), a leading provider of technology solutions to financial institutions globally, has published a white paper to guide banks as they consider the impacts and opportunities of open Application Programming Interfaces (open APIs) on their payments businesses.

Titled "Open APIs: A Survival Guide for Banks," the paper explores the driving forces behind the open API movement, including the proliferation of new immediate payments schemes, regulations like PSD2, and the rise of FinTech service providers. Through real-world examples, it shows how financial institutions worldwide are deploying and benefiting from open API-based initiatives. Balancing time-to-market considerations with the realities of legacy technology environments, it also sets forth a comprehensive roadmap for banks seeking to pursue an open API enablement strategy.

"Open APIs are the vital glue holding together the interconnected ecosystems that will make up the future of banking and payments services, and will serve as a catalyst to foster innovation," says Veejay Jadhaw, Chief Technology Officer, Global Payments Solutions, D+H. "In strategically approaching the decision on whether - or, more likely, how - to embrace open APIs, a bank can both clarify its future direction and strategy, and also secure its desired competitive positioning in the industry."

(Source: DH Corporation)

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram