Breaking Financial News

According to a survey conducted by PrincewaterhouseCoopers (PwC), around 69 percent of the surveyed people use internet to buy financial products. It has been predicted that by 2015 digital banking channel will overtake the conventional branch banking.

The bank branches have witnessed a fall in footfall in last few years because of the introduction of digital banking. Facilities like internet banking and mobile banking have found mass usage among the bank customers.

The banking system in the country has galloped a long way in last few years in terms of technology. Technology has found unprecedented utilization in the banking space and as a result of it a lot of new prospects have come up in the space.

It was also found in the survey that banks have been slow to respond to the demands of the customers of digital banking. Hence, the banks still have a long way to go in the direction.

Tags: Banking, Digital Banking

More and more people have switched to high deductible health plans this year, as their employers look to save money on health insurance.

And these new plans can be money savers.

But as one woman learned, you have to watch them much more closely than old style health plans.

Money Saver…Until She Needed It

Laura Nickell thought her new high deductible heath plan would be a money saver, with monthly premiums much lower than before.

But that was until she needed serious medical care.

Laura said “we paid our $3,000 deductible and after that they started sending us bills for 20%.”

That’s right: She started getting bills even after she met her deductible. “I had over 30 claims at 20%. So it was $20, $20, $20, etc,” she said.

How It Was Supposed to Work

As with most high deductible health plans, Laura was to pay with her own money — from an HSA account — until her bills hit $3,000.

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Tags: Deductible Health, Deductible Health Plans, Health Plans, Plans

The sources of power for the Electronic Revolution

We are now a world where electronics have become the lifelines of the human race; a World where people are becoming completely reliant upon electrical devices in every aspect of their lives.

This scene is no longer one portrayed only in 40?s comic strips and science fiction novels.

The scene is now the world we live, from Walkmans to iPods and Hummers to electrical vehicles, the trend toward our dependence on electronics will continue for a long, long time to come.

The electronic revolution shows how vital the need for increased electrical power has become Key for the US to remain competitive on the Gobal stage.

That being the case, we have to see continued innovation moving forward, and find tomorrow’s energy sources.

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IT HAD seemed a simple enough wheeze. Give banks unlimited access to 3-year funding from the European Central Bank and it wouldn’t take much more than a nudge and a wink for them to buy the bonds of Europe’s troubled peripheral countries instead of having the ECB do the job itself. For those too dull to read between the lines, Nicolas Sarkozy, France’s president, spelled it out: “each state can turn to its banks, which will have liquidity at their disposal.”

The wheeze, however, seems to have been too clever by half. Hours after Mr Sarkozy was urging banks to bail out governments, the European Banking Authority (EBA) released the results of its updated stress tests showing that European banks need to raise €115 billion ($149 billion) in extra capital, mainly to offset a fall in the value of their existing holdings of government bonds issued by troubled peripheral European countries.

The banks with the biggest capital shortfalls are those from Spain, Greece and Italy.

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Tags: Banks, Banks Staggering