What are the financial services provided by Samrat investment? Samrat Investments offer financial services designed to make strong savings and enhance financial strength.
Funding: New start-ups and creative ideas for new businesses to uplift the global platform.
Freedom Venture: A global interaction of investors and business brands provides a very affable and productive experience for both people and investors.
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I am planning a fintech startup. However, is it legal to provide financial services (payout interests, money transfer) as a sole proprietorship?
I don’t know which country you are in, or which countries you wish to operate in? In any case, to open customer accounts (required to make money transfers) and to hold customer funds (required to pay interest), you are going to have to be regulated in the country or countries you wish to operate in.
I have never in 35 years in the industry around the world heard of an unincorporated body being granted a license for this kind of activity.
There are two very simple reasons:
Fundraising. You are going to need at least $100 million to pay for the information security, anti-money laundering, and settlement interface infrastructure. You are going to want another $100 million in regulatory capital, who on earth would trust you with their money if they didn’t see a strong balance sheet? Nobody is going to invest $200 million in an unincorporated individual.
Unlimited liability. If anything goes wrong, you’re going to be made bankrupt as an unincorporated body. What you can do as an unincorporated body is create the platform and then sell it to others on the license, for them to operate. You will still likely need $10 million to have the resources to develop the product and protect your intellectual property and I would imagine that both the above issues would still be prohibitive.
Whichever country you are in, Google their payment services regulations and read through the several hundred pages of high-level rules. Also Google SWIFTs technical requirements for international payments infrastructure.
It will take you two years to break those down into detailed specifications and another two to five years to install them.
Then look up the Financial Action Task Force rules on Anti-Money Laundering and create your detailed technical specifications.
Then decide on which Information Security standards you are going to apply. If you want to operate, you’ll likely opt for ISO27001. Define your certification plan and build in the requirements upfront. Nobody wants to use a Mickey Mouse operator that doesn’t keep their money secure and the regulators will not grant you a license without a robust security framework.
There are dozens and dozens of other regulations that you are going to have to meet, but these are the three that most newbies haven’t got a clue about and also the reason behind a lot of organizations being either shut down or prevented from taking new business by the banking regulators.
Best of luck!
Do the Tories still act in the interest of the economy if they support Brexit, but the export-oriented companies and financial service providers are rather skeptical about Brexit?
The Tories always had the reputation of being business-oriented, conservative. This reputation was not deserved because many of their policies have always been class and motivated and were counterproductive. In the 1970s Edward Heath was mixed, there were cuts in welfare benefits and taxation moved towards forms of indirect taxation over direct taxation, and curbing the “power” of the unions. He would not be looked upon as especially right-wing, but at the time he was definitely pushing right.
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Things changed under Thatcher and Major. Moves towards privatization, business welfare policies, attacking the unions, swingeing cuts in public services, and pushing the economy toward financial services left the cupboards bare when they were finally thrown out in 1997. The ” Tories made a few large businesses and especially businessmen wealthy, but left the economy in tatters.
After Blair moved back to a more Heath style of business friendliness - the economy picked up giving Labour money to invest in the cash-starved NHS and education system. Things were going until the sub-prime mortgage induced banking crash of 2007/8. This, despite the lies the Tories pedaled, was not very much to do with the Labour government, other than a Tory-inspired light touch on financial and banking regulations.
Cameron came in in 2010 and immediately established the Tories as the enemy of business and ordinary people by introducing (with the help of the Lib Dems) an austerity policy that made it impossible for businesses and ordinary people to recover from the 2008 recession and the cost of saving the economy by bailing out the banks., though it was much easier on businesses than ordinary working people. If ever there was a time for Keynesian economics this was it.
Then came the disastrous decision to hold a referendum on membership of the EU without any proper education about what it is and what it does - and a yes/no question that took no account of having to find a modus vivendi with the EU and the rest of the world if the people vote to leave. A government would never have even contemplated leaving the EU, the most organization in the world. But, somehow the Tories managed to screw up the economy, business and especially screw poor to middle income working for families while blaming it on the previous Labour government and still having the reputation of business good stewards of the economy.
May’s government was very like Cameron’s but with a more inflexible approach and a chaotic Brexit policy.
This leads us to Boris Johnson and his cabinet of right-wing ideologues who are about as a scorpion. This is the same Boris Johnson who said when he was arguing that a no-deal Brexit was a good policy, was told that the majority of businesses were worried about Brexit. His response was “fuck business”.
So, my argument is that the Tories have never acted in the interest of the economy, their reputation of good economic stewards was almost completely undeserved. And now, even those erstwhile supporters can see their true colors. , the out to lunch Johnson, trying hard to counter his anti-business reputation, came back with his defense of the bankers proving his Tory business credentials - no sane person can equate the disastrous performance of the bankers as being in any way in the interests of the economy.
Who is the famous financial services provider in Australia?
Lots of financial services providers in Australia but it all depends on which one you want and who understands your situation. If you're looking for a complete financial or accounting solution for your business in Australia, a business management advisor is the greatest alternative. Here, you'll find a professional team of business financial advisers who can help you develop the best accounting plans for your company's growth. The following services are available to help you increase your profit and decrease your tax liability:-
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- Account Reconciliation Services
- Payroll Services
- XERO Bookkeeping and many more. if you want to know the other services you can contact and visit the website. n the US.
Paytm and PayPal, both are financial service providers. They are providing banking as well. Do they follow RBI guidelines?
They do not provide banking services. The simple effective tests:1. Do they give loans 2? Do they take deposits? 3. Do they transact.
These providers only perform the 3rd function.
RBI will have to consider monitoring them given the thousands of crores of money lying in their payment wallets. If either went bust or got scammed, millions of people will be hurt. And that falls within RBI’s mandate: safety of the financial system.
Is it advisable to invest in tips provided by research firms like Smart Money Financial Services by paying them Rs? 10000/month as they claim to have an 80% success rate?
No. That does not work. There are many reasons why but I will tell you the two most obvious reasons or three. Count them as I write. They are Financial Research Services and if they are claiming a success rate of 80%, what does that even mean..? Success in Targets being achieved or success in clients scored..? 80% success rate is above par even about the most amazing traders in the world.
They may be true to their claim but there is always a gap of knowledge between what you do and what they ask you to do and what they know and what you know. They may ask you to buy and sell at a certain price and since they have an 80% success rate, there is a chance that 20 of their calls could go wrong in a row out of 100. That means by the time a client gets to the 5th call which is another wrong one, the client will have lost patience and gone rogue doing his own thing.
You do not want to entrust your money to someone who claims something or even can prove it. The only person who can manage your money well is you.
But, my advice is to spend the same money on learning how to trade. 10K a month for a year will give you so much information knowledge and skill that you will learn how to fish and make money and grow by yourself on your own for the rest of your life.
If you need help learning how to trade, do DM me and I can give you more information.
Online Financial Services Startups: Many personal finance sites ask you to provide login info for all your accounts (banking, stock brokerage, credit cards, etc.) is this a safe thing to do?
While I can't speak for every PFM out there, you should feel comfortable with giving your credentials to a Verisign / McAfee / Veracode certified PFM. The site should have a proper SSL certificate, which would mean that when you visit the site in a modern web browser, the address bar has a green glow or a lock...to signal that the site is who they say they are.
So how does the whole bank account linking / connecting/syncing/aggregating work? Well, this is the process:
PFM site is SSL secured and is going through its own security audits. It uses bank-level 128-bit encryption on all inbound and outbound connections. The user enters credentials into that PFM site.
PFM contacts third-party aggregator with credentials (encrypted during transmission)
The aggregator, for instance, Yodlee, stores credentials to either a) establish a private API via token to a bank that supports it, or b) uses the logins to screen scrape via a connection to the bank's main website.
These 3rd parties are used by big internet firms that you already give sensitive information to, like Amazon, PayPal, eBay, Scottrade, etc. They undergo PCI Compliance (Official PCI Security Standards Council Site) to ensure they can protect the information they have.
Etc. , PFM services cannot move any money and use similar techniques that banks do to keep your information secure.
As always, do your homework before you give any login details to anyone, but when it comes to the big players, you're safe.
Apologies for saying this but I can see money down the drain again from my experience.
First, define your needs and requirements and to the nth degree cause sure as the sun rises in the east I can see caching caching caching some company his already running his palms
I saw this so many times it shows how senior management thinks and capabilities. You don't have to read this please go ahead after 1 year call me and say I was wrong
Financial services have regular control plus a portfolio of offerings some are bulk standard products whilst others are changing either monthly or quarterly.
So there are many processes that come to play and a lot can be automated and offered as digital services so please detail your need first. Kuching comes in unexpected ways I saw millions paid for new requirements extra development work etc
So if you looking for someone to drive this project from cradle to the grave then ping me we can sign a contract if you are comfortable with my skills and experience. I will write most of the project documentation myself in consultation with the team than do the RFI RFP process get your vendors onboard and manage each stage of process development and implementation
How safe is it to invest in stocks and mutual funds given the general lack of trust and self-interest-driven financial management services provided by financial firms/wall street?
I have bad news and good news. The bad news is that you are right to be concerned. There is DEEP corruption in the investing advice field. 90 percent of what you hear from "experts" is advice aimed not at helping you invest but at separating you from your money. The good news is that you today have the ability to protect yourself from all the baloney.
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First, invest only in index funds. If you do that, nothing of what anyone says about what company is headed up matters. All you need to see happen for you to do well is for the U.S. economy as a whole to create profits. And there is no one who doesn't want that to happen! All the bad guys lose money too if the U.S. economy collapses. So the insiders are working on your side on this one.
Two, always take valuations into consideration when setting your stock allocation. The insiders want you always to invest in stocks because that's where the commissions are. The academic research shows that the valuation level that applies when you buy the index fund determines your long-term return.
Buy at fair or low prices and the long-term return is always good. Buy at high prices (like those that apply today) and the long-term return is always poor. That's how it works with everything else you buy, isn't it? Doesn't price always matter? So it is with stocks too.
Do invest in stocks. You cannot afford not to. But pay more attention to what your common sense tells you than to what the "experts" in this field (who are experts only in knowing what to say to sell lots of stocks!) say.
(Source of article: www.quora.com)
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