Category Archives: Banking

Breeze A Richer Mobile Banking Experience

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Today, mobile banking is without doubt the latest and greatest technology, product, and service currently being offered through various financial institutions. However, one bank has actually pioneered features, making this a time for Standard Chartered Bank to shine. This banks version of a mobile banking application is truly unique, one built on a philosophy of providing what bank customers want.

The majority of other banks who have entered the mobile banking market have focused design and development of mobile banking applications on what they think customers want or what they feel the customers should have. Obviously, to build a strong base of loyal customers, banks have to provide products and services that offer real value. When customers see their voices have been heard and opinions listened to, these customers remain extremely loyal.

For any relationship to work between a bank and its customers, a level of trust and respect must exist. These two components are critical to success for both parties. With Standard Chartered Bank, executives and employees alike have taken every necessary step to offer customers solutions to make life easier, which is apparent in the new and revolutionary mobile banking solution known as Breeze.

When looking at mobile banking solutions offered through other banks, it is common to see that features plateau, even though the type of features may be quite different. However, with Breeze, conventional and revolutionary features have been taken to the next level, for the better. As a result, personal and business customers of Standard Chartered Bank enjoy a much richer experience overall, whether using online or Breeze mobile banking services.

A prime example would be in the way that other banks allow customers to view and transfer money using mobile banking. Typically, these two services are very basic and by providing features with limitations, the customers are shorted. For instance, if a Customer wanted to complete a task or transaction other than viewing an account or transferring money, additional applications through the banks website or through the mobile banking medium would have to be opened.

Let us say that a customer with a different bank wanted to look at the balance in a checking account, but also pay a bill, redeem earned points, or even report a lost or stolen credit card. To accomplish this, one application would need to be manipulated for view the account and another application for the second task. From this customers perspective, it does not appear as if the bank cared much about the effort and time involved to manage money online or via mobile banking.

Obviously, this type of process creates tremendous frustration, which often leads to bank disloyalty. At Standard Chartered Bank, the number one goal beyond anything else is to provide every customer with a smooth and professional experience. For this reason, whether managing accounts online or through Breeze mobile banking, tasks and transactions have been simplified but without sacrificing any of the power.

In addition to happy customers remaining loyal, the online services through Standard Chartered Bank and mobile banking services through Breeze provide an opportunity for other people to hear how great this bank and its products/services are through word of mouth.

Best Short Term Finance Management Training Courses Banking Delhi

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Best Short Term Finance Management Training Courses Banking Delhi: The one year PGD-AFPWM is a breakthrough innovation as far as post graduate professional courses in India are concerned. Conceptualized by Mr. Niamatullah, former MD SBI Mutual Fund and currently Director Academics of IIFP, this one year course provides to fresh graduates from any stream an opportunity to pursue a lucrative career in personal finance.

The one year at IIFP makes the student a dynamic professional comparable to the best in the world and ready to be absorbed in the industry.
IIFP continuously update and revise the course content to keep it relevant for the requirement of industry.

IIFP have innovated a unique teaching methodology where students are regularly given case studies and asked to apply their knowledge to find solutions of financial problems. Group assignments, presentations, continuous evaluation of lessons learnt etc are other highlights of this policy.

A significant part of the role of teaching fraternity is that of facilitators, guides and mentors.
IIFP has also developed world class study material and work books for the entire CFP Certification Education Program.

IIFP has received excellent feedbacks from student fraternity on the quality of study materials and this fact is amply reflected in the popularity of IIFP across the country for training and education in finance.

IIFP has a dynamic placement wing which closely interacts with the industry people, on a regular basis, and maintains excellent relationship with HR managers.

The placement department also plays an important role in grooming of students.

Some of the key activities performed by the department are
Career counseling to help the student select right profile and company
Helping the students prepare effective resume
Conducting mock interviews to help the students master the right attitude and skills

IIFP has about 95% placement record since inception. The average package provided to the PGDAFPWM students in the year 2010 was ‘ 3.5 lacs with ‘ 6.5 lacs as highest package. Around 60% of the students got a package higher than the average package.

How To Prepare For Gd In Oriental, Corporation And Axis Bank Recruitment 2013

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Group Discussion is one of the most vital selection measures introduced in recruitment procedure by almost all the banks through its recruitment procedures like that for Oriental Bank of Commerce and Axis Bank Recruitment 2013. As a part of the screening test to select the most adept candidates, Group Discussion (GD) offers a critical understanding of the interpersonal skills among the scores of super achievers in the bank PO Written Exam. Well, you have to prepare well, in order to get that special attention of the interviewer, in your Group Discussion phase. Usually time is very limited and you have to utilize that time in the most effective manner to get selected in the GD phase.
The first step in preparing for group discussions in bank exams is to develop a habit of reading regularly, be it the newspapers or current affairs books. A daily perusal of the newspapers and news channels helps inculcate a thorough understanding of the wide range of topics that you might be facing with, while attending one of these group discussions in banking sector recruitments like Corporation Bank Recruitment 2013.

Besides making yourself aware of general topics of discussion and current affairs, it is also important to develop multiple opinions about similar topics, in order to speak in favour and against of the same topic, as per the demand of the time. It is usually advised to keep the discussions simple and informative with a lucid style of speaking. Aspirants should refrain from fabricating the truth if they lack knowledge about a certain topic of discussion. The approach of discussion must be logical, practical, and clear and subject oriented. Panellists in banking recruitment like that for Oriental Bank of Commerce Recruitment 2013 usually look for certain skills like leadership qualities, argumentative and persuasive capacities, communication and interpersonal skills and analytical abilities. Candidates must be careful that their manner of speaking and body language should be attuned to the professional requirements.

Different banks have different approaches for marking the candidates who appear for the Group Discussions. In the case of banks like Corporation Bank and Axis Bank, usually 8 to 10 group members are allowed to speak for 20 to 30 minutes altogether. Within this stipulated period, the abilities of each member are tested and tried. Self-confidence is the keystone in such kinds of debates and discussions and the body language of the candidate must be able to freely express that. It is considered a common courtesy to allow other members to become an active participant of the group discussion by listening closely and making useful and valid remarks from time to time. There should be some flow of thought and continuity must be maintained while joining the ongoing discussion. Candidates should try not to detract from the topic that is on the table for discussion. The arguments must be validated with substantial reasoning and accurate statement of facts with references.
Recruitment procedures, like that for Axis Bank Recruitment 2013 selects its candidates based on their body language and self-esteem in addition to their expression of thought and knowledge. Candidates must refrain from mocking other candidates or interrupting them before their argument is over. The candidate must be well versed in the knowledge of bank policies and related activities, since these topics are often taken up for debating during Group Discussions. Finally, confidence plays a key role for success that will help you to get through these group discussions without a hitch.

Discovering Untapped Investment Opportunities In Paraguay

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The hit of the global economic crisis coupled with the harsh and extended drought has transformed the once-vulnerable Paraguay, with its rich agricultural industry and extensive hydro-electricity resources, into an attraction for foreign investors

Canadian entrepreneurs and investors Neal De Florio and Daniel Wang, Principals of Monarca Capital, are smitten with Paraguays stable economy, high incentives, low taxes and abundance of water, extensive arable land and clean electricity, oil and gas. The strategic geographic location of Paraguay, nicknamed the Heart of South America is at the heart of the highest income region of the continent, which accounts for almost 50% of South America`s GDP, say the investors.

Wang and De Florio are in for the long run. They have worked diligently to identify a number of investment opportunities in Paraguay in the banking, agricultural, real estate ,and infrastructure sectors. De Florio says, Our first priority is to find the right partners in Paraguay, then we focus on the opportunities that are available to us in each of the specific sectors we have earmarked. Doing business with honest and ethical people is paramount to long-term success in foreign markets.

Monarcas long-term aim is to develop funds for multiple sectors with foreign equity combined with traditional debt and/or fixed income securities. According to Wang, investments into Paraguay would be best suited for the mid-sized institutional investor or high net worth private investors. He says, You wont necessarily find deep discount opportunities as you would in the United States after the financial crisis, but you will find exceptional opportunities below their intrinsic value and at discounts compared to its neighbouring countries of Argentina and Brazil.

The stigma of corruption in its banking sector cant be easily dismissed, but Wang believes the Paraguayan banking sector is solid due to much improved and notably stricter regulations under the direction of the Central Bank. The development of inter-banking systems has resulted in increased interest from international banks such as Banco Regional, which is 40% owned by Rabobank, HSBC, and Citbank, he says. The entrepreneurs are also encouraged by a recent press release announcing Paraguays two largest banksInterBanco, a unit of Brazils Ita Unibanco (NYSE: ITUB), and the local subsidiary of Spains BBVA (NYSE: BBV)both posting the biggest profits in the system from January to August of this year.

While Paraguay enjoys the backing of its international banking partners, it cannot be denied that only 20% of its population has access to financial services due to its extensive rural areas. De Florio and Wang have identified an opportunity in the very need to shift banking from the current 75% dominant sight deposits (similar to that of chequing accounts) to medium- to long-term financing and broaden banking participation. There are plenty of development opportunities to fill that gap. Paraguayan banks and the government are committed to achieving widespread access to financial services in the country, says De Florio.

In the real estate sector, De Florio and Wang strongly believe developing low- to middle-income housing is an opportunity to cash in on a strong demand to alleviate the housing shortage.

Nothing could be more surprising than Paraguays recent historical milestone. After a decade, Brazil decided to increase Paraguays compensation from $120 million to $360 million for its share in operating the worlds largest energy-generating plant, the Itaipu Hydroelectric Power Plant, jointly owned by Paraguay and Brazil on the Parana River. Paraguay will soon enter into the Brazilian energy market as the agreement will allow Paraguay to sell its unused power in Brazil. Investors can look forward to infrastructural developments with the replacement of obsolete electric transmission lines by 2012. The powerful lines will increase Paraguays current 10% generating capacity to correspond with its industrial growth. While other emerging agricultural sectors could account for a deficit because of inadequate water supply, Paraguays advantage of having extensive water reserves and arable land together with low energy costs will continue to boost agricultural investment incentives.

For Monarca, Paraguay is a country with unlimited growth potential and unrivaled benefits. With Paraguays equidistance to Brazil and the Atlantic Ocean and to Chile and the Pacific Ocean, and with Rio Paranas natural borders to Brazil and Argentina, Paraguay enjoys access to main commercial centres, free ports, regional ports, barges and transatlantic ships.. It is a land where the VAT is, at 10%, the lowest of all South American countries; a land where 0% is applied to import tariffs on capital goods, capital transfer for investments of more than $5 million, and payments of interest on foreign loans. And, Paraguay is the ideal country for a business platform for logistics and distribution centres, IT, call centres, financial services, light manufacturing, vehicle and machinery yards and tourism offices.

For other foreign investors, Paraguay awakens an anxious attraction. Moving in the direction of greater investment transparency, stricter guidelines and minimized risks and costs, Paraguay is positioned to break down its barriers and could prove to be among the first in Latin America to emerge as paradise found.

Priti Ramjee is the President of Stratagem North, Ltd., a Canadian company. Priti has been specializing in global opportunities for asset based lending for eight years.

Delhi Jal Board – Now Ready With First Bills Under Its New System

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Delhi Jal Board supplies drinking water to Delhi residents, delhi jal board which is a voluminous activity of catering to the needs of almost 16 million people which activity has further grown leaps and bounds over a period of years, billing residents and collecting charges for the water used has now been made possible online. Bringing the facility of paying water bills on line has been a great benefit to Delhi people and the process is also very simple for anyone to follow, first with a registration producing authentic documents and then singing in every time they pay the water bills. On registration, the Water connection holder gets an username and ID using which one can furnish the details of supply-service account number and address mentioned in the water bill received earlier, while with one single registration and ID, the details of many cards can be furnished, which enables many people to pay their bills easily on line. Payment gateways of different types are linked to Delhi jal board bill payfacilitating the individual to remit bill amounts in different forms such as Credit card, Debit card and directly thorugh Net banking portals, which process involves providing the respective account numbers , name of the bank account holder or card holder, date of expiry in respect of cards and the billing address, all the popular credit card organisations such as MasterCard, American Express, Visa or Discover Card being authorised for this purpose. While remitting Water bills on line, the user has to be careful if the following details of the Bill are verified properly towards the remittance: 1.Name of the person on whom the Water consumption account is made and the Water bill raised 2.The current reading date 3.The Bill date 4.Water units for which payment has already been made 5.Payment due date 6.Current Meter reading 7.Type of Meter reading Delhi Jal Board has revamped the billing system only very recently and with the help of professional agencies such as Tata Consultancy Services, before which action billing process was facing lot of consumer complaints, such as the errors in meter reading which resulted in over billing and re-billing for the already paid readings etc, because of the fact that the readings were collected and stored at the Zonal offices, whereas the bills were generated at the Central Office, the payment details not reaching the Central Office in time, resulting in consumer grievances, further frustrating the consumer to go personally to the bill payment centres, waiting in long queues to get the bills manually corrected and payments already made adjusted removing the arrears claimed in the bill. With the introduction of online payments, which are made after the consumer verifying the details of billing in the net and the system accounting the remittances the moment online payment is made, without giving room for the complaints that were arising earlier, the new system requiring the consumer just to register to obtain a Username and ID for further transactions for online remittances.

Top Private College in India and Abroad

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Getting placed in banks has been a dream of millions of aspirants for years. Even the prospects of jobs in banks have increased many folds as a result of extensive growth of both public and private sector banks in different cities and rural areas. Mass retirement of banking personnel is also gaining momentum now. As a result, the number of banking positions to be filled in the coming years will be in lacs, providing plenty of opportunities to the aspirants. IBPS (Institute of Banking Personnel Selection) and SBI are the key players in the banking personnel selection. IBPS has also achieved the expertise of implementing the online test process efficiently and effectively. Also the results of these tests are available in a very short span of time. Now it is up to the candidates to prepare in the best manner and present themselves as right fit for the job. Along with sound knowledge, both the PO and clerk examinations require a fine pace and time management in solving the questions. Preparing well for these examinations does not always require coaching. There are many aspirants who already work somewhere and can not devote time for coaching classes. But this is not at all a matter to lose hope. For a person who is sincere enough, even a self but focused preparation can work wonders. The only advantage of coaching classes is that they provide you a stimulated environment. Thanks to technology. Now we have the facility of bank PO test preparation online. On internet, we may find a lot many websites that provide complete study material, previous year question papers, and various online tests for preparation. www.decidecollege.com is a very handy approach to acquire all information and solve all queries regarding education, educational institutes, and a variety of courses to give a jumpstart to your career. It provides complete details on various training courses online, bank exams preparation, professional courses and colleges providing such courses as per your location. Not just all this, you can also get jobs alert on mobile by subscribing for it.

Main Activities Of Investment Banking

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Investment banking and corporate finance) is the traditional investment banks, which also involves helping clients to raise funds in capital markets and advising on mergers and acquisitions (mergers and acquisitions). This can be imposed on investors, the issuance of Security, in coordination with the bidders, or negotiating with the goal of integration. Last term of the Division on Investment banking and corporate finance, advisory group is often called the mergers and acquisitions. Create a book where the information is in the bank’s financial market to the meter and the potential customer, if the pitch is successful, the Bank arrange the deal for customers. Divided into general and the investment banking division (IBD) in the coverage of industry groups and product coverage. Industry coverage groups focus on a particular sector, such as health, industrial, technology, and maintaining relationships with the companies in this industry to achieve in the business for a bank. Groups of product coverage to focus on financial products, such as mergers and acquisitions, corporate finance, project finance and asset finance leasing, structured finance, and restructuring of equity and debts are high quality and work in cooperation with industry groups on the more complex needs, and specialized client.

Sales and Trade: On behalf of the Bank and its clients, the function of a large investment bank in the first place to sell products. Market makers and traders buy and sell financial products to the growing amount of money on each trade. Sales is a sales force in the investment bank, which is important to appeal to institutions and high net worth investors to trade ideas for the proposal (in the warning based on the buyer’s responsibility), and take orders. Contact sales offices and customer orders for the offices the right brand name, which can price and execute trades, or structure new products that fit a specific need. Restructuring activity is relatively recent derivatives also comes in play, with the staff a high degree of technical writing and arithmetic to create complex structured products which typically offer much greater margins of securities and cash infrastructure.
In 2010, and investment banks came under pressure due to the sale of complex derivatives to municipalities in Europe and the United States of America [2] strategic advice. Follows the external and internal clients on the strategies in different markets. Starting from derivatives to specific industries, companies and industries strategic place in a quantitative framework with full consideration of the macroeconomic scene. This strategy is often the way the company will operate in the market, and the direction it will take in terms of their flow, and sales staff to offer suggestions to customers as well as how structurers create new products. Banks also have to take risks through their own trade, conducted by a private group of traders who interact with customers and through the “main risk” risks undertaken by the dealer after you buy or sell the product to the customer and not hedge his total exposure. Banks seek to maximize the profitability of a certain amount of risk on the balance sheet of their own. The need for numerical ability in sales and trading has created jobs for physics, mathematics and engineering doctoral degrees and quantitative analysts.

* Search is the division which reviews companies and writes reports on their prospects, often with “buy” or “sell” ratings. While the research department may or may not generate income (on the basis of policies in different banks), and the resources that are used to assist in marketing and sales force in suggesting ideas to clients and investment banks by giving their customers. Research also works with external customers investment advice (such as institutional investors and high net worth individuals) in the hope that they are represented by these customers and sales marketing ideas of the Commercial Bank Run, and therefore revenue for the company. There is a potential conflict of interest between investment banking and analysis, and analysis was published that could affect the bank’s profits. Even in recent years has become the relationship between investment banking and research is very organized, a Chinese wall between public and private employment.

Insecurities and internet services

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The expanding broadband services are supporting, the individuals in all fields like, education, research, banking, etc. Besides all the facilities, various crimes emerging from the internet, are threatening the individuals like; misuse of internet for uploading cheap information, photos and videos of innocent people, hacking the computer information, identity theft, phishing etc. >

On one side, the government is expanding the networking of Broadband services (Unlimited Landline or bundles) and on the other side; it is strengthening the safety and privacy measure. These criminal acts are, the result of information shared on the internet like in chat rooms, e-mail. Web sites, etc.

Generally, we are concerned about the fake videos and photos upload on the internet (broadband internet).But, nowadays a silent crime is becoming prevalent in the internet society, which talks about frauds done online, theft of financial transaction details etc. Some of the silent crimes are:
Phishing;

Phishing involves, sending of millions of fraudulent emails, to random email addresses, purporting to be sent by an authorized bank. After reading the mail the customer is asked to follow the link which opens up to a fake banking website (which looks like an original website) then, the customer is asked to enter the personal banking details.As soon as the customer logon the information, it is collected by the fake user handling the spam emails. This is the trap, so, that the customer gets into the process and applies the logon information. Some additional losses can also engulf the customer, such as:

Sometimes, while serving such fake operations, the customer is unaware that, he has downloaded a malicious program which will save the keyboard strokes by the customer, (which is banking login details). Such captured information is sent to the third party.

Such operations may even target other online payment facility sites or online auction.
Mobile Banking:

Sophisticated software systems are used by banking companies; hence, it becomes a difficult task for the criminals to get over the security system of banks. So, they try other measures by tricking the customers directly to get the confidential information.
Mule recruitment:

After completion of successful internet finance related crimes, the frauds try to place money (obtained from Australian bank customers), that can be said to launder funds.

The Mule or the email id user gets a job offer for online services with attractive salary. After being selected as an employee for online jobs, the employee generally receives and e-mail of associated goods and is asked to forward the goods to particular address. Generally, the shipping is asked to be done to an overseas address, which can trap a person in 20 years imprisonment. Even after that, there could be a case where salary may or may not be given.
Frauds related to online shopping and auction sites:

Similar problems, of financial loss occur here, so select a secure payment service, or the parent site for all payments.
Lottery winnings, a huge amount is asked to be transferred in some account etc.

In this condition people are sent millions of mail and after some conversation, their bank account details are being asked to attain the windfall win amount or gift.
Identity theft

The personal information collected by any other individual results, in misusing of bank account details.

After this discussion one should focus on the below mentioned measures to get relieved of above all malpractices, by the cyber criminals.
Delete useless mails immediately.
Always transit by the parental site of the company.
Inform to authorize of cyber crime about any suspective offers.
Always keep your accounts details confidential
Shred or destroy your old cards and account books.
Never disclose your pin or never keep the pin in written, try to remember it.
Avoid mail and telephonic calls offering instant prizes or awards.
Never loan your credit cards or bank accounts book to anyone
Report to your company and local police about the loss of any bank related equipment immediately.

Crimes cannot be stopped by an individual, but, can be prevented off. An individual should use all the preventive measures, as every individual preventive step, will weaken the frauds attempts.

Things To Be Aware About Regarding Mobile Banking

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When we think of cell phones and smart phones, we think of small computer devices. They function and behave as if they are smaller computers. That is how far technology has reached to make lives of people a lot easier. In lieu with this magnificent innovation, nowadays, banking seems to be very convenient for individuals. It seems too convenient, allowing people to use their mobile phones to make quick checks in to their accounts, pay bills or just send funds. The world now embraces a new form of banking, as if online banking is not enough.

Mobile banking is a great tool. It is convenient, fast, easy and accessible. Here are some things that you might want to consider if you wish to do banking through your mobile phone.

The issue of security
There is a general consensus between banking experts that mobile banking, to some extent, is safer compared with online banking. This is true when considering the amount of security risks and malware that could infect the mobile phone. However, that is just one aspect of security and baking using your phone has other security issues. If there is computer phishing, then there is mobile smishing. This is when the person receives a fake message via SMS asking for account details. The hacker poses as a reputable bank or financing company. Do not feel like you are immune to such seemingly obvious scams. A lot of people have lost money from such tricks.

Phone being stolen.

If you lost your phone or it was taken from you by a robber, even if passwords are necessary, when it comes to mobile banking, most users tend to apply easy to break passwords so that banking can be easy. With such ease in technological use, the account holders must always use stronger passwords because this is the only tough thing that you can do so that no sneaky individual can guess your banking details.

Compatibility
Most banks only have their mobile services offered to those clients with smart phones. These are specially made applications that can be used to make the most out of your mobile use. Those old, outdated phones are not supported and sometimes, even if banks allow, they are only limited for account balance checking only.

There are additional fees when doing your transactions via SMS. Compared to online options, they are virtually pricey because you have to pay for every text message that you send to handle banking. In some cases, those that use specialized software will have to ask for a fee.

Infinite Banking For Business – How To Make It Work

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Infinite Banking Systems are becoming a trusted vehicle for growing individual wealth. But there are also many practical and beneficial ways to apply the Infinite Banking concept to businesses.

Understanding the Infinite Banking System
The concept is the same. With the Infinite Banking System, you put yourself in the position of being your own bank. This is done through a dividend-paying whole life insurance policy. As your cash values begin to grow you can begin to lend yourself money. If you need to repair something in your home, for example, you can borrow the money from yourself using the cash values within your policy.

You set the loan amount, the interest rate and the payment schedule. When you pay the loan back, you pay yourself with interest. So you are financing and making money on yourself, instead of paying that money and interest to a bank or other financial institution. Even better, your cash values will continue to earn interest and you may earn dividends on your entire pre-loan amount, as if you had never borrowed money.

Applying the Infinite Banking System to a Small Business
For a small business owner, the Infinite Banking System has a variety of potential benefits. Loans from your whole life insurance can be used to pay for legitimate business expenses, including:

-space rental
-new equipment
-office supplies
-bonuses
-corporate vehicles
-business travel

These are only a few ideas. The limits are infinite. And as with policies that serve individuals, the more you use the Infinite Banking System for business purposes, the more benefits you’ll receive. You can create a cash side account or gain, simply as a bi-product of your regular business transactions.

So why would you do this? Because the IRS allows businesses to write off legitimate business interest expense. By funding business expenses through your dividend-paying whole life insurance plan, you create an investment return for yourself and a tax write off for the business. It’s a win-win relationship. You, the individual, loan money to the business. The business pays back the loan amount plus interest to you, increasing your account cash values. The business gets to write-off the interest paid on the loan as a legitimate business expense.

While business owners can use their personal whole life policies to fund business expenses, policies can also be purchased by the company on key individuals, offering the same benefits of cash value liquidity, loan opportunities and tax advantages.

Making Infinite Banking Work for Larger Businesses
The concept of Infinite Banking has been an accepted practice in larger businesses and corporations for some time. These types of businesses obviously have a much greater need for capital – far bigger in scope and volume than an individual or small business does. But the Infinite Banking concept is carried out through Corporate Owned Life Insurance, and its counterpart, Bank Owned Life Insurance.

Corporate Owned Life Insurance
Corporate-owned life insurance, or COLI, is traditionally purchased to cover a business’s key executives. These policies are also known as “key person” insurance. A corporation will purchase a life insurance policy on a key employee to cover the potential financial cost of losing him or her to unexpected death. The insurance coverage is intended to cover the cost of recruiting and training new talent and to offset the possible loss of business due to the key employee’s absence. It also helps a company recoup the possible cost of benefit payouts to the deceased employee’s family.

COLI accounts can be used in the same way as individual whole life policies. Corporations use their participating whole life insurance policies to build cash values. Just like with individual policies, contributions and gains accumulate tax-free, and loans can be made as needed for any business need.

Bank Owned Life Insurance
The financial industry has its own version of this type of insurance. Bank-owned life insurance, or BOLI, has been traditionally purchased by financial institutions for their key executives. And although its been an accepted practice for many years, its popularity is increasing. In 2008, for example, banks purchased $126.1 billion of whole life insurance.

Using COLI and BOLI as Infinite Banking Concepts
Because these corporate life insurance policies are usually for much larger amounts than individual policies, the potential for reinvestment and explosive cash value growth are much greater. Although the policies cover individuals, they are purchased to protect corporations and banks for their potential losses, boost Tier 1 capital and provide benefits that might not otherwise be affordable. So it is the corporation or bank that is the policyholder, and these purchasing institutions can use these policies much like an individual uses a participating whole life policy to fund the Infinite Banking System. Corporations can use the cash values within their policies to fund legitimate business expenses such as:

-Large equipment or machinery
-Employee retirement plan
-Employee Health & Wellness Plan
-Corporate Vehicles
-Your lease/building space
-Corporate Housing
-Travel Expenses
-Business Loans
-Adding Fringe Benefits to Attract Key Personnel
-Business Acquisitions & Merger

Corporations and banks have long known the financial benefits of infinite banking through their COLI and BOLI policies. By using a dividend-paying life insurance policy as a platform for the Infinite Banking System, now smaller companies can enjoy these same benefits.