#Online banking software

[perfectiongeeks]

How Much Does it Cost to Build the Mobile Banking App: A Complete Guide?

Online banking software represents a potential growth area in the financial sector. Banking apps provide customers with convenient, secure, and easy access to financial services. Online banking apps help banks better serve their customers by providing a convenient, secure, and user-friendly mobile banking experience. Mobile banking apps that are the best allow users to perform fraudulent transactions on their mobile phones and other devices, giving them greater control over their finances. Making online banking apps allows customers to get the needed services quickly and efficiently. This will improve brand recognition.

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[phantomrose96]

If anyone wants to know why every tech company in the world right now is clamoring for AI like drowned rats scrabbling to board a ship, I decided to make a post to explain what's happening.

(Disclaimer to start: I'm a software engineer who's been employed full time since 2018. I am not a historian nor an overconfident Youtube essayist, so this post is my working knowledge of what I see around me and the logical bridges between pieces.)

Okay anyway. The explanation starts further back than what's going on now. I'm gonna start with the year 2000. The Dot Com Bubble just spectacularly burst. The model of "we get the users first, we learn how to profit off them later" went out in a no-money-having bang (remember this, it will be relevant later). A lot of money was lost. A lot of people ended up out of a job. A lot of startup companies went under. Investors left with a sour taste in their mouth and, in general, investment in the internet stayed pretty cooled for that decade. This was, in my opinion, very good for the internet as it was an era not suffocating under the grip of mega-corporation oligarchs and was, instead, filled with Club Penguin and I Can Haz Cheezburger websites.

Then around the 2010-2012 years, a few things happened. Interest rates got low, and then lower. Facebook got huge. The iPhone took off. And suddenly there was a huge new potential market of internet users and phone-havers, and the cheap money was available to start backing new tech startup companies trying to hop on this opportunity. Companies like Uber, Netflix, and Amazon either started in this time, or hit their ramp-up in these years by shifting focus to the internet and apps.

Now, every start-up tech company dreaming of being the next big thing has one thing in common: they need to start off by getting themselves massively in debt. Because before you can turn a profit you need to first spend money on employees and spend money on equipment and spend money on data centers and spend money on advertising and spend money on scale and and and

But also, everyone wants to be on the ship for The Next Big Thing that takes off to the moon.

So there is a mutual interest between new tech companies, and venture capitalists who are willing to invest $$$ into said new tech companies. Because if the venture capitalists can identify a prize pig and get in early, that money could come back to them 100-fold or 1,000-fold. In fact it hardly matters if they invest in 10 or 20 total bust projects along the way to find that unicorn.

But also, becoming profitable takes time. And that might mean being in debt for a long long time before that rocket ship takes off to make everyone onboard a gazzilionaire.

But luckily, for tech startup bros and venture capitalists, being in debt in the 2010's was cheap, and it only got cheaper between 2010 and 2020. If people could secure loans for ~3% or 4% annual interest, well then a $100,000 loan only really costs $3,000 of interest a year to keep afloat. And if inflation is higher than that or at least similar, you're still beating the system.

So from 2010 through early 2022, times were good for tech companies. Startups could take off with massive growth, showing massive potential for something, and venture capitalists would throw infinite money at them in the hopes of pegging just one winner who will take off. And supporting the struggling investments or the long-haulers remained pretty cheap to keep funding.

You hear constantly about "Such and such app has 10-bazillion users gained over the last 10 years and has never once been profitable", yet the thing keeps chugging along because the investors backing it aren't stressed about the immediate future, and are still banking on that "eventually" when it learns how to really monetize its users and turn that profit.

The pandemic in 2020 took a magnifying-glass-in-the-sun effect to this, as EVERYTHING was forcibly turned online which pumped a ton of money and workers into tech investment. Simultaneously, money got really REALLY cheap, bottoming out with historic lows for interest rates.

Then the tide changed with the massive inflation that struck late 2021. Because this all-gas no-brakes state of things was also contributing to off-the-rails inflation (along with your standard-fare greedflation and price gouging, given the extremely convenient excuses of pandemic hardships and supply chain issues). The federal reserve whipped out interest rate hikes to try to curb this huge inflation, which is like a fire extinguisher dousing and suffocating your really-cool, actively-on-fire party where everyone else is burning but you're in the pool. And then they did this more, and then more. And the financial climate followed suit. And suddenly money was not cheap anymore, and new loans became expensive, because loans that used to compound at 2% a year are now compounding at 7 or 8% which, in the language of compounding, is a HUGE difference. A $100,000 loan at a 2% interest rate, if not repaid a single cent in 10 years, accrues to $121,899. A $100,000 loan at an 8% interest rate, if not repaid a single cent in 10 years, more than doubles to $215,892.

Now it is scary and risky to throw money at "could eventually be profitable" tech companies. Now investors are watching companies burn through their current funding and, when the companies come back asking for more, investors are tightening their coin purses instead. The bill is coming due. The free money is drying up and companies are under compounding pressure to produce a profit for their waiting investors who are now done waiting.

You get enshittification. You get quality going down and price going up. You get "now that you're a captive audience here, we're forcing ads or we're forcing subscriptions on you." Don't get me wrong, the plan was ALWAYS to monetize the users. It's just that it's come earlier than expected, with way more feet-to-the-fire than these companies were expecting. ESPECIALLY with Wall Street as the other factor in funding (public) companies, where Wall Street exhibits roughly the same temperament as a baby screaming crying upset that it's soiled its own diaper (maybe that's too mean a comparison to babies), and now companies are being put through the wringer for anything LESS than infinite growth that Wall Street demands of them.

Internal to the tech industry, you get MASSIVE wide-spread layoffs. You get an industry that used to be easy to land multiple job offers shriveling up and leaving recent graduates in a desperately awful situation where no company is hiring and the market is flooded with laid-off workers trying to get back on their feet.

Because those coin-purse-clutching investors DO love virtue-signaling efforts from companies that say "See! We're not being frivolous with your money! We only spend on the essentials." And this is true even for MASSIVE, PROFITABLE companies, because those companies' value is based on the Rich Person Feeling Graph (their stock) rather than the literal profit money. A company making a genuine gazillion dollars a year still tears through layoffs and freezes hiring and removes the free batteries from the printer room (totally not speaking from experience, surely) because the investors LOVE when you cut costs and take away employee perks. The "beer on tap, ping pong table in the common area" era of tech is drying up. And we're still unionless.

Never mind that last part.

And then in early 2023, AI (more specifically, Chat-GPT which is OpenAI's Large Language Model creation) tears its way into the tech scene with a meteor's amount of momentum. Here's Microsoft's prize pig, which it invested heavily in and is galivanting around the pig-show with, to the desperate jealousy and rapture of every other tech company and investor wishing it had that pig. And for the first time since the interest rate hikes, investors have dollar signs in their eyes, both venture capital and Wall Street alike. They're willing to restart the hose of money (even with the new risk) because this feels big enough for them to take the risk.

Now all these companies, who were in varying stages of sweating as their bill came due, or wringing their hands as their stock prices tanked, see a single glorious gold-plated rocket up out of here, the likes of which haven't been seen since the free money days. It's their ticket to buy time, and buy investors, and say "see THIS is what will wring money forth, finally, we promise, just let us show you."

To be clear, AI is NOT profitable yet. It's a money-sink. Perhaps a money-black-hole. But everyone in the space is so wowed by it that there is a wide-spread and powerful conviction that it will become profitable and earn its keep. (Let's be real, half of that profit "potential" is the promise of automating away jobs of pesky employees who peskily cost money.) It's a tech-space industrial revolution that will automate away skilled jobs, and getting in on the ground floor is the absolute best thing you can do to get your pie slice's worth.

It's the thing that will win investors back. It's the thing that will get the investment money coming in again (or, get it second-hand if the company can be the PROVIDER of something needed for AI, which other companies with venture-back will pay handsomely for). It's the thing companies are terrified of missing out on, lest it leave them utterly irrelevant in a future where not having AI-integration is like not having a mobile phone app for your company or not having a website.

So I guess to reiterate on my earlier point:

Drowned rats. Swimming to the one ship in sight.

[sohaibsmart]

Amazon Prime Day occasion begins, gross sales up 12% in first 7 hours: Report | Firm Information

Prime Day can function a bellwether for the vacation procuring season. 3 min learn Final Up to date : Jul 17 2024 | 12:10 AM IST Amazon.com Inc.’s Prime Day gross sales rose virtually 12 per cent within the first seven hours of the occasion in contrast with the identical interval final 12 months, based on Momentum Commerce, which manages 50 manufacturers in a wide range of product…

[jenovacomplete]

a failed update from billion-dollar cybersecurity firm crowdstrike has crashed windows machines worldwide today (july 19th 2024), leaving everything from airport terminals to checkout machines to delivery apps to banks stuck with a blue screen of death. here's a screenshot from downdetector (au) to illustrate:

the issue appears to be with crowdstrike falcon, a form of antivirus software widely used in the corporate world -- with emphasis on the world. there have been reports from the us, uk, australia, germany, india, france, japan and more. places affected include (but are not limited to) supermarkets, banks, basically every airline, public transport networks, major broadcasters, emergency services, corporate offices, healthcare providers and stock exchanges.

(woolies pic via archiestaines9 on twitter; s3pirion; akothari. yes that is masahiro sakurai of smash bros fame)

emergency service lines are currently experiencing problems within the american states of alaska, arizona, indiana, minnesota, new hampshire and ohio. similar problems likely plague other areas of the world, they just haven't been reported on yet. australian emergency services are operating, and critical infrastructure remains stable. be sure to check in with the local news stations still online for more updates.

welcome to y2k............................. 2!!!!!!!!!!!!!

[yethiconsulting]

How Software is Reshaping Customer Experiences

In the digital age, customer experience has become a top priority for businesses across all industries, and banking is no exception. With the advent of advanced software technologies, banks are revolutionizing the way they interact with and serve their customers. Let's delve into how software is reshaping customer experiences in the banking sector:

Personalized Service: Banking software is enabling personalized service like never before. Through data analytics and AI algorithms, banks can analyze customer behavior, preferences, and financial patterns to offer tailored products and services. Whether it's suggesting personalized investment options or providing targeted financial advice, banks can now cater to the unique needs of each customer.

Omni-channel Experience: Modern customers expect seamless experiences across various channels, be it online banking platforms, mobile apps, or in-person interactions. Banking software allows for the integration of these channels, ensuring that customers can access their accounts and perform transactions effortlessly, regardless of the platform they choose.

24/7 Accessibility: Gone are the days of being restricted by banking hours. With software solutions, customers have round-the-clock access to their accounts and banking services. Whether it's checking account balances, transferring funds, or applying for loans, customers can do it all at their convenience, from anywhere in the world.

Streamlined Processes: Software streamlines banking processes, reducing the time and effort required for both customers and bank employees. From opening new accounts to processing loan applications, automation and digitization make these processes faster, more efficient, and error-free, leading to improved customer satisfaction.

Enhanced Security: Security is paramount in the banking industry, and software plays a crucial role in ensuring the safety of customer data and transactions. Advanced encryption techniques, biometric authentication, and fraud detection algorithms protect customers from cyber threats and identity theft, instilling confidence and trust in the banking system.

Proactive Communication: Software enables banks to engage with customers proactively, keeping them informed about important updates, upcoming events, and relevant offers. Whether it's sending personalized notifications about account activity or offering targeted promotions based on customer preferences, proactive communication strengthens the bond between banks and their customers.

Feedback and Improvement: Software allows banks to gather valuable feedback from customers through surveys, reviews, and social media interactions. This feedback loop enables banks to identify areas for improvement and make necessary adjustments to enhance the overall customer experience continually.

In conclusion, banking software is transforming the way customers interact with banks, offering personalized service, seamless omni-channel experiences, enhanced security, and proactive communication. By leveraging these software solutions, banks can build stronger relationships with their customers, drive loyalty, and stay ahead in today's competitive market.

[reshmi-sakthivel]

Examining the Advantages of Accounting Software for Small Enterprises: Numbers Made Simple

 

In this era, small businesses might need help managing their money quickly. In the absence of appropriate efficiency, managing spending, payroll, and checks can easily become an exhausting task. However, with the integration of the best accounting software for small businesses, handling finances becomes an easy task. 

Effortless Check Management with Integration 

Do you need help managing checks within complex interfaces? By integrating the accounting software, users can simplify the process significantly. This integration makes it simple to import checks from software. You can quickly make, save, and send checks to your customers, which helps you save time and effort. It works whether you are at your desk or away. 

Payroll Automation Solutions 

Payroll administration doesn't have to be difficult for small firms. Fintech platforms offer reliable payroll accounting features that simplify and automate the entire process. With an array of features, organizations can effortlessly manage payroll tasks. Employee payments are made quickly and precisely thanks to these platforms, whether they are made via paper checks, Direct Deposits, or eChecks. 

Efficient Expense Tracking 

It's critical to monitor business expenses if you want to stay financially stable. Businesses can simply manage and arrange their spending using the powerful expense monitoring feature of the platform. All you need to do is enter the desired outcome, vendor, date, amount, and target, and the platforms will take care of the rest. This provides small business owners with peace of mind by guaranteeing that financial records are correct and present. 

Increased Accessibility of Financial Data

A greater understanding of their finances is provided to small business owners by using the software. They can view the financial health of their company with features like dashboards that can be customized and rapid reporting. They are better able to make judgments as a result of having easy access to crucial data like earnings and cash flow. By identifying areas in which they are overspending, they can also come up with solutions to save costs. All things considered, these characteristics assist small business owners in making wiser financial decisions.

Flawless Integration for Efficiency

Another key benefit is the flawless integration capabilities. By integrating with necessary software, efficiency is maximized across all operations. Additionally, this connectivity makes sure that data moves smoothly across different applications. This improves accuracy and saves time by doing away with the necessity for human data entry and lowering the possibility of mistakes. All of this connectivity and synchronization makes it easier for small businesses to run and concentrate on what really matters—growing their business.

Conclusion: Simplifying Finances for Small Businesses 

In conclusion, the best accounting software for small businesses, integrated with the features of fintech platforms, offer a powerful solution for managing finances efficiently. From check management to payroll and expense tracking, these features improve processes, saving time and effort for small business owners. With simplified financial management, businesses can focus on growth and success. 

[dlxxv-vetted-donations]

Deadline Nov 28: Tawfik needs to pay his international student fees.

My other promos | Currently keeping up with here

Updated: Nov 21

Member(s): @dev-tawfik (current), @devtawfik (shadowbanned), @tawfikblog, @90-tawfik (shadowbanned)

Verification: @/90-ghost

Payment methods:

Gfm for education: PayPal, Venmo, Google Pay, credit/debit (donation match $10 USD)

Kofi for survival (mentioned here): PayPal, credit/debit

Tawfik is a Palestinian currently taking online classes at an Egyptian university. His gfm campaign needs to reach $10,050 by Nov 28 so he can pay off his international student fees and his Kofi campaign needs to reach 71% soon so he can treat his illness. Any additional funds in the gfm and Kofi will go towards the next semester's payments and family care respectively.

More info:

Update Nov 20: More details here. Tawfik has fallen ill with the flu and won't be online much. He needs USD $228 (fees included) for medications and a vaccine. This requires him to reach 71% of his goal on Kofi (which is specifically for non-education related needs). At the same time, he needs $10,050 in his gfm by Nov 28 to pay off his international student fees.

Update Nov 15: We reached the halfway goal for the international student fee of USD $9,050 by Nov 15. Now going for the full fee of $10,050 by Nov 28.

Update Nov 6:

Tawfik got an extension to Nov 30 to pay the international fee. New goals of USD $9,050 by Nov 15 and $10,050 by Nov 28 (to account for transfer time) were set. The final goal was reduced with some backup money. Grades will be withheld until payment is made.

Update Nov 5:

Currently, it seems impossible to raise the required funds ($10,050 - $10,150) by Nov 13. Tawfik has emailed his school to negotiate for more time.

Update Oct 29:

Now @dev-tawfik.

The next goal was $9,250 to pay off international student fees (due Nov 13, see math section below) that Tawfik just found out about.

The family urgently needed $1,000 for healthy food (Tawfik's father has health problems and needs vegetables).

Tawfik initially wanted to use the gfm money for education only as promised, but had to add the sum to the campaign goal (a total of $10,250) because the Kofi he made solely for his family wasn't receiving many donations early on.

There were some issues with the Kofi taking a few weeks to transfer funds, but that's been resolved. It is now for support of Tawfik's family and transfers money relatively quickly.

From Oct 17-27, we fundraised to $7,200 to buy some food for the family. This food money will last roughly 2 weeks.

We are focusing back on international student fees and set a short-term goal of $8,862 in the campaign by Nov 3. There will be another small goal set after this date.

We need roughly $10,050 (an estimate) in the campaign by Nov 13 (hard deadline). Again, this isn't a concrete number and involves some usage of Tawfik's backup money.

Campaign details:

Tawfik is a software engineering student in Palestine trying to continue his education by enrolling in online classes at an Egyptian university.

He already raised roughly USD $2,500 in late July through a now closed Paypal campaign and paid the school as an application and reservation fee. This is nonrefundable.

We fundraised $4,113 (5200 - 1087) and paid off his tuition for the year on Oct 7

The gfm is meant for education only. To support the family, donate to the Kofi. It no longer faces issues with long transfer times.

Tawfik has some extra leftover funds from paying off the tuition, but it isn't much and is to be used for emergencies.

Oct 17: Tawfik bought his textbooks ($800 incl fees → $6,000 in campaign) and got a small discount for being Palestinian. This money saved went into his emergency funds.

Math:

Please let me know if I screwed up the calculation somewhere.

The transfer fee is assumed to be ~$50 per $600 earned. My bad in earlier calculations where I set it after the bank fee rather than before.

Textbooks: base $600

Funds left after:

Gfm for 40 donations: 570.6

~$50 transfer fee: 520.13

12% Bank fee: 458.13

To cover the funds lost to fees, we need an extra $200 (assumed 15 donations). After fees on that, it's only $166 (enough to cover the short-term goal)

So we need 600 + 200 = $800 for the textbooks.

This is $6,000 in the campaign.

Slightly outdated: International student fees: base $2,423

900£ = USD $1,180.93

60k EGP = USD $1,241.29

Funds left after:

Gfm fees for 160 donations: 2304.74

Transfer fee, ~$200: 2,104.74

12% Bank fee: 1852.17

To cover the funds lost to fees, we need an extra $800 (assumed 55 donations). After fees on that, it's only $625 (enough to cover the short-term goal)

So we need 2423 + 800 = $3,223 for the international student fee.

This is $9,223 10,223 in the campaign, rounded up to $ 9,250 10,250

The rate of ~$100 daily is sufficient to get us to this goal before the deadline of Nov 13 (this accounts for the 2 days needed for transfers)

[betabytetechnologies]

https://www.betabyte.in/services/nidhi-software

Powering Your Financial Success With Our Nidhi Software

Power Up your financial business success with Beta Byte Technologies, your trusted partner in cutting-edge software development. Explore our advanced Nidhi Software solutions to enhance efficiency, streamline processes, and ensure seamless compliance. Transform your Nidhi business with us – Explore the future today!

[rohroy]

ATMs & CRMs – Unveiling Their Benefits in India’s Evolving Payment Landscape | AGS India

Both ATMs and CRMs facilitate various banking transactions, CRMs offer the additional functionality of cash recycling, making them more advanced and sophisticated machines.

[whitelabelewallet1]

5 benefits of using a mobile banking app

Best Online Mobile Banking Software Development Company in UK, London (United Kingdom). Top Virtual Digital Banking System Software Solution at affordable price

Increased Accessibility: Mobile banking systems allow customers to access their accounts from anywhere and at any time. This increased accessibility enhances customer satisfaction and improves the overall user experience.

Cost Savings: Mobile banking systems can significantly reduce operational costs for financial institutions. By enabling customers to perform transactions through their mobile devices, banks can reduce the need for physical branches and staff.

Improved Security: Mobile banking systems utilize several layers of security, including biometric authentication, encryption, and firewalls, to ensure the safety and privacy of customer data. This enhanced security can help to build trust and confidence among customers.

Competitive Advantage: Mobile banking systems are becoming increasingly popular among consumers, and financial institutions that offer this service can gain a competitive advantage over those that do not. Offering a seamless and convenient mobile banking experience can attract new customers and help to retain existing ones.

Data Analytics: Mobile banking systems can provide financial institutions with valuable insights into customer behavior and preferences. This data can be used to inform marketing strategies, product development, and other business decisions.

[buydumps1]

Bank Account Hacking Software

Bank account hacking software allows hackers to steal your personal banking information. When you are vulnerable and don't know it, they can enter your name and social security number on a fake account with stolen passwords to purchase fraudulent goods or sell on the black market.

[mindspaceoutsourcingservices]

Mindspace Outsourcing Services provides the best accounting and bookkeeping  services.

To know more :  http://www.mindspaceoutsourcing.co.uk/

[reshmi-sakthivel]

Compliance Unraveled: How Accounting Software Keeps Small Businesses Legally Sound 

Going through the complex legal compliance landscape is an important challenge for small businesses. One key tool that helps in this journey is small businesses accounting software. Integrating platforms like QuickBooks, Gusto, and Zoho is instrumental in addressing various financial needs while ensuring legal adherence. 

Financial Transparency for Compliance: 

Small businesses accounting software promotes financial transparency, a keystone of legal compliance. These platforms ease accurate record-keeping and financial reporting, enabling businesses to fulfill tax functions efficiently. By integrating QuickBooks, Gusto, or Zoho, businesses gain a detailed view of their financial health, which is vital for regulatory compliance. 

Easing Tax Compliance: 

Navigating tax regulations can be tiring for small and medium enterprises. However, accounting software eases this time-consuming process by automating calculations and ensuring adherence to tax laws. QuickBooks, Gusto, and Zoho integration improves tax filing, reducing errors and penalties while keeping businesses compliant with constantly evolving tax codes. 

Enhanced Reporting and Documentation: 

Strong reporting capabilities offered by small businesses accounting software like QuickBooks, Gusto, and Zoho are invaluable for compliance when integrated with the online check printing platform. These platforms generate detailed financial reports and maintain documentation, which is important for audits and regulatory checks. This level of documentation serves as a shield against legal outcomes and ideal for businesses looking for a safe platform.

Payroll Compliance and Accuracy: 

Accurate payroll management is essential for legal compliance. Accounting software integrates with payroll functions, ensuring employee compensation and tax withholdings accuracy. Platforms like QuickBooks, Gusto, and Zoho help businesses meet payroll tax functions and maintain compliance with labor laws. 

Scalable Solutions for Evolving Regulations: 

Small businesses accounting software offers expandable solutions adaptable to changing regulatory landscapes. Integrating QuickBooks, Gusto, or Zoho enables businesses to stay active and compliant with evolving legal requirements. These platforms continuously update features to line up with new regulations, offering businesses peace of mind. 

Upholding Integrity: Role of Integration

Integration of accounting software like QuickBooks, Gusto, and Zoho upholds the integrity of small businesses. Easy integration of these platforms ensures data accuracy and consistency, essential for maintaining compliance standards. The union between these tools improves not just financial efficiency but also professional practices. It establishes a framework where businesses operate transparently, lining up every transaction with legal requirements. This integration isn't merely technological; it becomes the backbone that upholds the company's commitment to legal soundness, promoting a culture of compliance within every operational facet.

Conclusion: 

Companies go beyond the complexities of compliance by using the power of small businesses accounting software. QuickBooks, Gusto, and Zoho integration create a collaboration that eases financial management and protects legal adherence. The online platforms are more than software; it's the keystone for small businesses to navigate the difficult paths of legal compliance. 

In a network of legal requirements, small businesses accounting software emerges as a guiding light. Integrating platforms like QuickBooks, Gusto, and Zoho equips businesses with the tools to achieve financial transparency, tax compliance, detailed documentation, and adaptability to evolving regulations—ensuring a legally sound operation.