Much has been said about disintermediation in markets, made possible by new technologies & more efficient systems. In the past, this has in actuality been an introduction of new intermediation forms, leading to more numerous & complex intermediation functions. The truer disintermediation has yet to take place, but, like its antecedents, this too will be a transference to intermediation of a new order: Networks & their ecosystem of services will be new intermediaries, augmenting roles previously dominated by institutions & serving to open a previously enclosed environment.
This presentation illustrates some of the historical, current & anticipated trends described. It is not a comprehensive review of industry activities or a survey of competitors. Nor is it an analysis or set of recommendations for purposes of assessing any investment, public or private.
SORTIS Invest is a Bulgarian financial advisory firm that provides private equity, venture capital, corporate finance, and other investment banking services. It is part of the larger SORTIS Group which also includes real estate and credit advisory companies. SORTIS Invest assists both entrepreneurs seeking financing and institutional investors in structuring and executing investment deals. It has extensive experience in equity investments, mergers and acquisitions, and restructuring projects in Bulgaria and other countries.
SORTIS Group is a Bulgarian financial services firm that provides investment banking, real estate investment management, credit and leasing advisory, and hospitality asset management services. The company has extensive networks of investment funds, strategic investors, and financing institutions to source and structure investment opportunities for its clients. SORTIS Group consists of several subsidiary companies that specialize in different areas of financial services.
1) SORTIS Real Estate identifies opportunities to invest in distressed real estate projects in Bulgaria arising from the global credit crunch.
2) The construction and real estate sectors have been badly hit, with announced mega projects put on hold.
3) Many players in the property market are experiencing some form of distress currently. However, this distress provides opportunities to invest in projects from players exiting the market or needing financing to complete projects.
Crisil fund services-wealth-mgmnt-feb11Radhika Khant
- The document discusses the growing mass affluent segment in India and the need for a new paradigm in wealth management to serve this segment.
- The mass affluent segment lacks organized wealth management services to help them achieve financial goals like education, marriage, retirement.
- A new model is needed that involves partnerships between independent financial advisors (IFAs) who understand retail investors, and large institutions that provide infrastructure, research and products. This could provide a cost-effective and trusted platform for wealth management for the mass affluent.
The Retail Distribution Review (RDR) comes into effect on 31 December 2012 and will lead to significant changes in the financial advice industry. Key aims are to offer consumers fair and transparent fees, clarity on services received, and advice from highly qualified professionals. All advisers must be qualified to a higher minimum level and undergo continual professional development. The changes are intended to boost consumer confidence and professionalism in financial advice.
1. Bharti AXA's SmartDrive Commercial Vehicle Insurance Policy provides comprehensive coverage for commercial vehicles plying on public roads as required by law.
2. The policy covers liabilities arising from accidental death, injury to third parties, or damage to third party property from vehicle accidents. It also covers accidental damage to the insured vehicle.
3. Additional optional covers include coverage for accessories, personal accident coverage for passengers and drivers, and legal liabilities of paid drivers and employees present in the vehicle.
New Banking License Catalyst For Consolidationabhiseksasmal
The document discusses the potential impacts of the Reserve Bank of India issuing new banking licenses. This could allow corporate houses to enter the banking sector. It may lead banks to consolidate and move from many small banks to fewer large banks. Recent mergers and acquisitions in the Indian banking industry are provided as examples. The document analyzes certain listed private sector banks that may be attractive takeover targets based on factors such as market presence, asset quality, and financial ratios. Karur Vysya Bank, South Indian Bank, and Federal Bank are identified as potential targets.
SORTIS Invest is a Bulgarian financial advisory firm that provides private equity, venture capital, corporate finance, and other investment banking services. It is part of the larger SORTIS Group which also includes real estate and credit advisory companies. SORTIS Invest assists both entrepreneurs seeking financing and institutional investors in structuring and executing investment deals. It has extensive experience in equity investments, mergers and acquisitions, and restructuring projects in Bulgaria and other countries.
SORTIS Group is a Bulgarian financial services firm that provides investment banking, real estate investment management, credit and leasing advisory, and hospitality asset management services. The company has extensive networks of investment funds, strategic investors, and financing institutions to source and structure investment opportunities for its clients. SORTIS Group consists of several subsidiary companies that specialize in different areas of financial services.
1) SORTIS Real Estate identifies opportunities to invest in distressed real estate projects in Bulgaria arising from the global credit crunch.
2) The construction and real estate sectors have been badly hit, with announced mega projects put on hold.
3) Many players in the property market are experiencing some form of distress currently. However, this distress provides opportunities to invest in projects from players exiting the market or needing financing to complete projects.
Crisil fund services-wealth-mgmnt-feb11Radhika Khant
- The document discusses the growing mass affluent segment in India and the need for a new paradigm in wealth management to serve this segment.
- The mass affluent segment lacks organized wealth management services to help them achieve financial goals like education, marriage, retirement.
- A new model is needed that involves partnerships between independent financial advisors (IFAs) who understand retail investors, and large institutions that provide infrastructure, research and products. This could provide a cost-effective and trusted platform for wealth management for the mass affluent.
The Retail Distribution Review (RDR) comes into effect on 31 December 2012 and will lead to significant changes in the financial advice industry. Key aims are to offer consumers fair and transparent fees, clarity on services received, and advice from highly qualified professionals. All advisers must be qualified to a higher minimum level and undergo continual professional development. The changes are intended to boost consumer confidence and professionalism in financial advice.
1. Bharti AXA's SmartDrive Commercial Vehicle Insurance Policy provides comprehensive coverage for commercial vehicles plying on public roads as required by law.
2. The policy covers liabilities arising from accidental death, injury to third parties, or damage to third party property from vehicle accidents. It also covers accidental damage to the insured vehicle.
3. Additional optional covers include coverage for accessories, personal accident coverage for passengers and drivers, and legal liabilities of paid drivers and employees present in the vehicle.
New Banking License Catalyst For Consolidationabhiseksasmal
The document discusses the potential impacts of the Reserve Bank of India issuing new banking licenses. This could allow corporate houses to enter the banking sector. It may lead banks to consolidate and move from many small banks to fewer large banks. Recent mergers and acquisitions in the Indian banking industry are provided as examples. The document analyzes certain listed private sector banks that may be attractive takeover targets based on factors such as market presence, asset quality, and financial ratios. Karur Vysya Bank, South Indian Bank, and Federal Bank are identified as potential targets.
smart card alliance - mobile payment business model research report on stakeh...Boni
This document summarizes a research report on stakeholder perspectives regarding business models for proximity mobile payments. It examines four potential models - operator-centric, bank-centric, peer-to-peer, and collaboration - and discusses the consensus views on each model's future, reference cases, and pros and cons for different stakeholders. The conclusion is that the industry is waiting for a bold move from one of the players to help define a sustainable business model.
This document provides a comparative study of ULIP plans from several major insurance companies in India. It includes an introduction to the topic, objectives of the study, research methodology used, data collection methods, limitations, data analysis and interpretations through numerous tables and charts comparing key features of ULIP plans like funds, charges, returns and customer satisfaction levels. The study aims to compare ULIP plans on selected parameters and understand factors influencing customer investments in ULIPs.
Presentation by Lamon Rutten : "Value chain finance and risk management" presented at the Regional forum on cassava in Central Africa, from 6 to 9 December, 2016, in Yaoundé, Cameroon. More information: http://www.cta.int/en/news/regional-forum-on-cassava-in-central-africa.html
The document discusses various challenges and models for improving rural banking in India. It notes that currently only 39.7% of rural areas have bank branches, and many rural residents lack access to basic banking services. To address this, models discussed include self-help groups partnering with banks, using kisan credit cards to provide loans to farmers, employing business correspondents to interface with rural communities, and establishing a "hub and spoke" system with branches serving as hubs and local agents/NGOs as spokes. The goal is to better serve India's large rural population and address financial inclusion challenges.
The document lists 8 questions about financial institutions and markets, covering topics such as primary and secondary markets, the roles of various institutions, and reforms in sectors like insurance. Contact information is provided to obtain assistance with assignments and projects related to the questions.
AIG Residential Mortgage Presentation - August 9, 2007finance2
This document provides an overview of AIG's involvement in the US residential mortgage market through various segments including originating mortgages, providing mortgage insurance, and investing in mortgage-backed securities. It discusses two of AIG's subsidiaries, American General Finance and United Guaranty, and how they operate within the mortgage market. American General Finance originates mortgages and United Guaranty provides mortgage insurance. The document also outlines AIG's role in investing in mortgage securities and providing credit default protection.
The document discusses reducing operating costs for credit union savings stamp services. It notes that traditional paper savings stamps cost approximately €5,000 per year to print plus €3,000 in staff time to manage. This amounts to €80,000 over 10 years for a service that provides no return. It introduces the Visual Savings Card system as an alternative that is more secure, provides accountability and auditing, and can be implemented for less than the annual cost of paper stamps. The card addresses issues like loss, theft, fraud, and money laundering that are problems with traditional savings stamps. It provides transaction records for auditing and prevents copying like is possible with physical stamps.
The document is a report analyzing consumer investment behavior and innovation in insurance in the present scenario. It was submitted by Chani Raj in partial fulfillment of an MBA degree. The report includes an acknowledgements section thanking those who provided guidance. It also includes an executive summary outlining the objectives of analyzing consumer behavior, brand awareness, comparing ULIPs, new insurance avenues, and the potential market for ULIPs in Delhi, Gurgaon, Noida, and Greater Noida regions.
Enhancing Customer Engagement and Experience of Microinsurance in AfricaCGAP
The document summarizes a project conducted by CGAP, MicroEnsure, and Continuum to enhance customer engagement with microinsurance in Africa. The project used human-centered design techniques like interviews to understand customer perceptions in Kenya and Malawi. Key findings included customers' thirst for education, modest aspirations, distrust of insurance, and need for stability and growth support. Prototypes developed included an educational game on mobile phones and bundling small insurance premiums with airtime to make it affordable and engaging for customers. The goals were to increase MicroEnsure's understanding of customers and pilot new acquisition methods.
The document discusses financial institutions in the Philippines and outlines a partnership between Esquire International Financing Inc. and HELP Foundation. It details their product lines, which include microcredit, microsavings, microinsurance, SME financing and receivable/trade finance. It also discusses key success factors for credit such as accessibility, simple requirements, and flexible payment schemes.
This document provides an overview of investment and portfolio management. It defines investment as putting money toward something with the expectation of gain over time, provided there is security of principal and return. Savings that are invested can increase over time through financial markets and institutions that allow for the transfer of funds from those with surplus to those with deficits. The three main topics covered in the course are stock market operations, portfolio management, and mutual funds. Forms of business in Pakistan include sole proprietorships, partnerships, private and public companies, as well as definitions of trading, services and manufacturing businesses.
Convergence as a Long-Term Trend: Innovation in Perpetual Transition (Mar/2013)Dan Ramsden
No longer at its origin, though far from maturity, digital media & information technology
are in a middle state between these polar extremes. Driven by innovation & establishment
in parallel, this state will perhaps be endless & is now perpetuated by the adoption of
information technology into other fields. As this occurs, sectors are reshaped & the
convergence between previously disparate worlds, with digital media at the center, is in
itself a new form of innovation. This environment shapes & is mirrored in financial flows,
strategies, structures & valuations, which are important to understand in this context.
This presentation illustrates the described trends from a high level, incorporating certain
ideas depicted in greater detail in other CoRise reports. It is not a comprehensive review
of industry activities or a survey of competitors. Nor is it an analysis or set of
recommendations for purposes of assessing any investment, public or private.
Insurance companies protect individuals and corporations from risks by offering products like life, property, and casualty insurance. Securities firms and investment banks raise funds through debt and equity securities for corporations and governments, and facilitate trading of securities. Financial institutions include commercial banks that accept deposits and make loans, as well as non-bank institutions that transform cash into other financial instruments.
SORTIS Invest is an investment banking boutique focused on mergers & acquisitions, private equity, venture capital and corporate finance.
Company presentation
www.sortis.bg
The document discusses the role of investment banks and investment bankers. It covers various topics related to investment banking services including expertise, relationships, organization structure, fees, required skill sets, and mobility of skills. It also discusses clients that investment banks work with including corporates, governments, investors, banks, and internal management. The key services provided by investment banks are outlined as advisory, research, valuations, acquisitions, capital structuring, capital raising, and underwriting. The document emphasizes that investment banking requires critical thinking skills, market analysis skills, and the willingness to go the extra mile for clients.
The document discusses the role of investment banks and investment bankers. It covers various topics related to investment banking services including expertise, relationships, organization structure, fees, required skill sets, and mobility of skills. It also discusses clients that investment banks work with including corporates, governments, investors, banks, and internal management. The key services provided by investment banks are outlined as advisory, research, valuations, acquisitions, capital structuring, capital raising, and underwriting. The document emphasizes that investment banking requires critical thinking skills, market analysis skills, and the willingness to go the extra mile for clients.
SERNET is a financial services firm led by Mr. Bhavesh A. Vora and Mr. Arvind J. Vora. It serves over 3000 individual families as well as corporate clients and trusts. SERNET provides a variety of financial services including wealth management, financial management, risk management, and other avenues to meet all client financial needs through consultative and monitoring efforts. The vision is to become a global integrated player in financial services using professional practices to add value to clients' lives and wealth.
This document outlines various types of banking and financial institutions, including their functions and purposes. It discusses commercial banks, investment banks, retail banks, central banks, savings and loan associations, credit unions, online banks, merchant banks, and community banks. It also covers non-banking financial institutions such as insurance companies, pension funds, mutual funds, factoring companies, pawnshops, finance companies, leasing companies, stock brokerage firms, money markets, and financial technology firms. The overall purpose is to provide an overview of the roles and objectives of different institutions within the banking and financial system.
- Multiplus is a growing loyalty network in Brazil with nearly 9 million members as of 3Q11, up 17% YoY. It had gross billings of R$397 million in 3Q11, up 32.4% YoY.
- The company aims to diversify its revenue sources beyond its main partner TAM Airlines. In 3Q11, 73% of gross billings came from TAM, down from 98% historically.
- Multiplus reported EBITDA of R$78.1 million in 3Q11, up 64.5% YoY, with a margin of 24.3%. Adjusted EBITDA was R$82.3 million, down 7% YoY
Brian Moynihan, president of Global Wealth & Investment Management at Bank of America, discusses opportunities for growth. GWIM is a large competitor providing strong returns. The best opportunity is to leverage BofA's large franchise of over 8 million affluent customer relationships. BofA is capturing this opportunity through investments in client managers and advisors, and by deepening relationships through referrals across business lines. There is potential for much more growth by further leveraging the bank's strengths.
- Multiplus saw strong growth in 3Q11, with points issued up 38.5% YoY to 20.0 billion and gross billings up 32.4% to R$397.3 million.
- Net revenue was R$321.5 million, an increase of 147.3% YoY. EBITDA was R$78.1 million, up 64.5% YoY, with a margin of 24.3%.
- Cost of points redeemed increased 213.3% YoY to R$218.8 million, in line with higher points issuance and redemption. Gross profit increased 70.4% to R$103.9 million.
This document summarizes Multiplus S.A., a growing loyalty network in Brazil. Some key points:
1) Multiplus has nearly 9 million members, up 17% year-over-year, and sold over 20 billion points in the third quarter of 2011, up 38.5% year-over-year.
2) Multiplus has an exclusive long-term agreement with TAM Airlines and partnerships with almost 170 other companies.
3) Multiplus' strategy is to diversify its gross billings and redemptions away from over-reliance on TAM by expanding its partnerships network with other industries.
smart card alliance - mobile payment business model research report on stakeh...Boni
This document summarizes a research report on stakeholder perspectives regarding business models for proximity mobile payments. It examines four potential models - operator-centric, bank-centric, peer-to-peer, and collaboration - and discusses the consensus views on each model's future, reference cases, and pros and cons for different stakeholders. The conclusion is that the industry is waiting for a bold move from one of the players to help define a sustainable business model.
This document provides a comparative study of ULIP plans from several major insurance companies in India. It includes an introduction to the topic, objectives of the study, research methodology used, data collection methods, limitations, data analysis and interpretations through numerous tables and charts comparing key features of ULIP plans like funds, charges, returns and customer satisfaction levels. The study aims to compare ULIP plans on selected parameters and understand factors influencing customer investments in ULIPs.
Presentation by Lamon Rutten : "Value chain finance and risk management" presented at the Regional forum on cassava in Central Africa, from 6 to 9 December, 2016, in Yaoundé, Cameroon. More information: http://www.cta.int/en/news/regional-forum-on-cassava-in-central-africa.html
The document discusses various challenges and models for improving rural banking in India. It notes that currently only 39.7% of rural areas have bank branches, and many rural residents lack access to basic banking services. To address this, models discussed include self-help groups partnering with banks, using kisan credit cards to provide loans to farmers, employing business correspondents to interface with rural communities, and establishing a "hub and spoke" system with branches serving as hubs and local agents/NGOs as spokes. The goal is to better serve India's large rural population and address financial inclusion challenges.
The document lists 8 questions about financial institutions and markets, covering topics such as primary and secondary markets, the roles of various institutions, and reforms in sectors like insurance. Contact information is provided to obtain assistance with assignments and projects related to the questions.
AIG Residential Mortgage Presentation - August 9, 2007finance2
This document provides an overview of AIG's involvement in the US residential mortgage market through various segments including originating mortgages, providing mortgage insurance, and investing in mortgage-backed securities. It discusses two of AIG's subsidiaries, American General Finance and United Guaranty, and how they operate within the mortgage market. American General Finance originates mortgages and United Guaranty provides mortgage insurance. The document also outlines AIG's role in investing in mortgage securities and providing credit default protection.
The document discusses reducing operating costs for credit union savings stamp services. It notes that traditional paper savings stamps cost approximately €5,000 per year to print plus €3,000 in staff time to manage. This amounts to €80,000 over 10 years for a service that provides no return. It introduces the Visual Savings Card system as an alternative that is more secure, provides accountability and auditing, and can be implemented for less than the annual cost of paper stamps. The card addresses issues like loss, theft, fraud, and money laundering that are problems with traditional savings stamps. It provides transaction records for auditing and prevents copying like is possible with physical stamps.
The document is a report analyzing consumer investment behavior and innovation in insurance in the present scenario. It was submitted by Chani Raj in partial fulfillment of an MBA degree. The report includes an acknowledgements section thanking those who provided guidance. It also includes an executive summary outlining the objectives of analyzing consumer behavior, brand awareness, comparing ULIPs, new insurance avenues, and the potential market for ULIPs in Delhi, Gurgaon, Noida, and Greater Noida regions.
Enhancing Customer Engagement and Experience of Microinsurance in AfricaCGAP
The document summarizes a project conducted by CGAP, MicroEnsure, and Continuum to enhance customer engagement with microinsurance in Africa. The project used human-centered design techniques like interviews to understand customer perceptions in Kenya and Malawi. Key findings included customers' thirst for education, modest aspirations, distrust of insurance, and need for stability and growth support. Prototypes developed included an educational game on mobile phones and bundling small insurance premiums with airtime to make it affordable and engaging for customers. The goals were to increase MicroEnsure's understanding of customers and pilot new acquisition methods.
The document discusses financial institutions in the Philippines and outlines a partnership between Esquire International Financing Inc. and HELP Foundation. It details their product lines, which include microcredit, microsavings, microinsurance, SME financing and receivable/trade finance. It also discusses key success factors for credit such as accessibility, simple requirements, and flexible payment schemes.
This document provides an overview of investment and portfolio management. It defines investment as putting money toward something with the expectation of gain over time, provided there is security of principal and return. Savings that are invested can increase over time through financial markets and institutions that allow for the transfer of funds from those with surplus to those with deficits. The three main topics covered in the course are stock market operations, portfolio management, and mutual funds. Forms of business in Pakistan include sole proprietorships, partnerships, private and public companies, as well as definitions of trading, services and manufacturing businesses.
Convergence as a Long-Term Trend: Innovation in Perpetual Transition (Mar/2013)Dan Ramsden
No longer at its origin, though far from maturity, digital media & information technology
are in a middle state between these polar extremes. Driven by innovation & establishment
in parallel, this state will perhaps be endless & is now perpetuated by the adoption of
information technology into other fields. As this occurs, sectors are reshaped & the
convergence between previously disparate worlds, with digital media at the center, is in
itself a new form of innovation. This environment shapes & is mirrored in financial flows,
strategies, structures & valuations, which are important to understand in this context.
This presentation illustrates the described trends from a high level, incorporating certain
ideas depicted in greater detail in other CoRise reports. It is not a comprehensive review
of industry activities or a survey of competitors. Nor is it an analysis or set of
recommendations for purposes of assessing any investment, public or private.
Insurance companies protect individuals and corporations from risks by offering products like life, property, and casualty insurance. Securities firms and investment banks raise funds through debt and equity securities for corporations and governments, and facilitate trading of securities. Financial institutions include commercial banks that accept deposits and make loans, as well as non-bank institutions that transform cash into other financial instruments.
SORTIS Invest is an investment banking boutique focused on mergers & acquisitions, private equity, venture capital and corporate finance.
Company presentation
www.sortis.bg
The document discusses the role of investment banks and investment bankers. It covers various topics related to investment banking services including expertise, relationships, organization structure, fees, required skill sets, and mobility of skills. It also discusses clients that investment banks work with including corporates, governments, investors, banks, and internal management. The key services provided by investment banks are outlined as advisory, research, valuations, acquisitions, capital structuring, capital raising, and underwriting. The document emphasizes that investment banking requires critical thinking skills, market analysis skills, and the willingness to go the extra mile for clients.
The document discusses the role of investment banks and investment bankers. It covers various topics related to investment banking services including expertise, relationships, organization structure, fees, required skill sets, and mobility of skills. It also discusses clients that investment banks work with including corporates, governments, investors, banks, and internal management. The key services provided by investment banks are outlined as advisory, research, valuations, acquisitions, capital structuring, capital raising, and underwriting. The document emphasizes that investment banking requires critical thinking skills, market analysis skills, and the willingness to go the extra mile for clients.
SERNET is a financial services firm led by Mr. Bhavesh A. Vora and Mr. Arvind J. Vora. It serves over 3000 individual families as well as corporate clients and trusts. SERNET provides a variety of financial services including wealth management, financial management, risk management, and other avenues to meet all client financial needs through consultative and monitoring efforts. The vision is to become a global integrated player in financial services using professional practices to add value to clients' lives and wealth.
This document outlines various types of banking and financial institutions, including their functions and purposes. It discusses commercial banks, investment banks, retail banks, central banks, savings and loan associations, credit unions, online banks, merchant banks, and community banks. It also covers non-banking financial institutions such as insurance companies, pension funds, mutual funds, factoring companies, pawnshops, finance companies, leasing companies, stock brokerage firms, money markets, and financial technology firms. The overall purpose is to provide an overview of the roles and objectives of different institutions within the banking and financial system.
- Multiplus is a growing loyalty network in Brazil with nearly 9 million members as of 3Q11, up 17% YoY. It had gross billings of R$397 million in 3Q11, up 32.4% YoY.
- The company aims to diversify its revenue sources beyond its main partner TAM Airlines. In 3Q11, 73% of gross billings came from TAM, down from 98% historically.
- Multiplus reported EBITDA of R$78.1 million in 3Q11, up 64.5% YoY, with a margin of 24.3%. Adjusted EBITDA was R$82.3 million, down 7% YoY
Brian Moynihan, president of Global Wealth & Investment Management at Bank of America, discusses opportunities for growth. GWIM is a large competitor providing strong returns. The best opportunity is to leverage BofA's large franchise of over 8 million affluent customer relationships. BofA is capturing this opportunity through investments in client managers and advisors, and by deepening relationships through referrals across business lines. There is potential for much more growth by further leveraging the bank's strengths.
- Multiplus saw strong growth in 3Q11, with points issued up 38.5% YoY to 20.0 billion and gross billings up 32.4% to R$397.3 million.
- Net revenue was R$321.5 million, an increase of 147.3% YoY. EBITDA was R$78.1 million, up 64.5% YoY, with a margin of 24.3%.
- Cost of points redeemed increased 213.3% YoY to R$218.8 million, in line with higher points issuance and redemption. Gross profit increased 70.4% to R$103.9 million.
This document summarizes Multiplus S.A., a growing loyalty network in Brazil. Some key points:
1) Multiplus has nearly 9 million members, up 17% year-over-year, and sold over 20 billion points in the third quarter of 2011, up 38.5% year-over-year.
2) Multiplus has an exclusive long-term agreement with TAM Airlines and partnerships with almost 170 other companies.
3) Multiplus' strategy is to diversify its gross billings and redemptions away from over-reliance on TAM by expanding its partnerships network with other industries.
Addressing some of the early questions that entrepreneurs must ask themselves before beginning on their journey:
* What are your goals for your enterprise? (Business, nonprofit, social enterprise)
* Will your business be focussed on profit? Social benefit? Will it be a consulting practice? A service company? A product company?
* What are the different requirements and resources necessary for your selected enterprise model?
* What type of financing should you target: equity, debt, grant funding or a combination of all three?
This is the lecture that establishes the framework for the rest of the course and gets entrepreneurs on their way!
Part of the CIBC Presents Entrepreneurship 101 lecture series: http://www.marsdd.com/ent101
MassMutual is a leading mutual life insurance company founded in 1851 and headquartered in Springfield, MA. It provides a range of insurance, investment, and retirement products and services. In 2008, MassMutual had $523 billion in worldwide insurance in force, $363 billion in assets under management, and over 12,000 employees worldwide. It received several awards for customer service excellence and is highly rated by major rating agencies for its financial strength.
This chapter provides an overview of the banking industry and financial services sector. It discusses the many types of banks, the financial service competitors of banks, the traditional and recent services offered by banks, the roles of commercial banks and their closest competitors, and the trends affecting banks and other financial service firms today such as increased competition, technological change, and globalization.
The document provides an overview of how the primary and secondary markets in India operate. In the primary market, companies issue new securities to raise funds. This involves intermediaries like merchant bankers. Methods of issuing new shares include public issues, rights issues, and private placements. In the secondary market, previously issued securities are traded among investors on stock exchanges. This involves market participants like brokers, clearing corporations, and depositories. Trading occurs electronically and settlements are done on a T+2 rolling basis to transfer shares and funds between buyers and sellers.
The document discusses microinsurance and intermediaries in microinsurance. It describes different types of microinsurance providers and intermediaries, and their roles. It also outlines several microinsurance delivery models including partner-agent, mutuality, direct sales, and community-based models. Finally, it discusses the intermediary model in more detail and provides examples of how MicroEnsure Philippines works as an intermediary to establish partnerships between microinsurance providers and organizations serving the poor.
This document defines and categorizes different types of financial intermediaries. It discusses insurance companies, mutual funds, non-banking finance companies, investment brokers, investment bankers, escrow companies, pension funds, and collective investment schemes. The main advantages of using financial intermediaries are that they help reduce costs compared to direct lending/borrowing, and help reconcile the conflicting needs of lenders and borrowers to prevent market failure. Financial intermediaries play a vital role in bringing together those with surplus funds to lend and those with shortage of funds to borrow.
This 3-sentence summary provides the high-level information from the investor presentation document:
Multiplus is a growing loyalty network in Brazil with around 9 million members as of 3Q11, connecting individuals and companies through a network of partnerships that allows members to collect and redeem points across various programs. The company has an innovative business model that generates profit from points selling and expiration, requires low capital expenditures, and aims to diversify its gross billings and redemptions away from over-reliance on its major partner TAM Airlines through expanding its partnerships network. Multiplus sees opportunities to increase average unit prices and control costs through this diversification strategy over the long term.
Similar to Convergence of Finance & Media: Transformation of Complex Markets (Mar/201… (20)
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Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
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The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
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Enhancing Adoption of AI in Agri-food: IntroductionCor Verdouw
Introduction to the Panel on: Pathways and Challenges: AI-Driven Technology in Agri-Food, AI4Food, University of Guelph
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Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani case
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Kirill Klip GEM Royalty TNR Gold Lithium Presentation
Convergence of Finance & Media: Transformation of Complex Markets (Mar/201…
1.
2. CONVERGENCE OF FINANCE & MEDIA:
TRANSFORMATION OF COMPLEX MARKETS
Much has been said about disintermediation in markets, made possible by new
technologies & more efficient systems. In the past, this has in actuality been an
introduction of new intermediation forms, leading to more numerous & complex
intermediation functions. The truer disintermediation has yet to take place, but, like its
antecedents, this too will be a transference to intermediation of a new order: Networks &
their ecosystem of services will be new intermediaries, augmenting roles previously
dominated by institutions & serving to open a previously enclosed environment.
This presentation illustrates some of the historical, current & anticipated trends
described. It is not a comprehensive review of industry activities or a survey of
competitors. Nor is it an analysis or set of recommendations for purposes of assessing
any investment, public or private.
MARCH / 2013 UPDATE
4. MARKETS ARE THE INTERSECTION OF SOURCES & USERS OF
CAPITAL, MANY OF WHICH PLAY COMPLEX ROLES IN
OVERLAPPING WAYS
BUSINESS
CORPORATIONS VENTURES
CAPITAL SOURCES
CAPITAL USERS
PRIVATE
INVESTORS
INSTITUTIONS
/FUNDS SOVEREIGNS
BANKS
MUNICIPALITIES
CONSUMERS
4 MARCH / 2013 UPDATE
5. INTERMEDIARIES SERVE A CHANNELING FUNCTION, ENABLING
THE FLOW OF CAPITAL IN ITS MOST OPTIMAL DIRECTION
Investors Banks Issuers
Money Credit
Lenders Managers Card Cos Borrowers
Buyers Brokers Merchants Sellers
Traders Analysts
Consumers Builders
Advisors
PRINCIPAL AGENT PRINCIPAL
5 MARCH / 2013 UPDATE
6. THE INTERMEDIATION FUNCTION IS DRIVEN BY SCALE
ECONOMIES & INFORMATION EFFICIENCY BASED ON VOLUME
& SPECIALIZATION
Banks
Investors Issuers
Money Credit
Lenders Managers Card Cos Borrowers
Buyers Brokers Merchants Sellers
Consumers Builders
Traders Analysts
Advisors
6 MARCH / 2013 UPDATE
7. IN INSTITUTIONAL MARKETS, THESE AGENCY EFFICIENCIES
HAVE LED TO NEW INTERMEDIATION VEHICLES IN THE FORM
OF SPECIALIZED FUNDS
Private Hedge Funds
Equity
Venture Mutual Funds
Capital
Corporate REITs &
Credit Other Vehicles
PRIVATE PUBLIC
7 MARCH / 2013 UPDATE
8. IN CONSUMER MARKETS THE SAME HAS LED TO EXPANSION
OF INTERMEDIATED PRODUCTS & THE INTRODUCTION OF
NEW INTERMEDIATED INSTRUMENTS
Credit
cards
Securitization
Debit Mortgages
cards
Pools SPV
Student
loans Car loans
CDS
Annuities
& policies
PRODUCTS INSTRUMENTS
8 MARCH / 2013 UPDATE
9. THIS CORE GROUP OF INTERMEDIATION ENTITIES ARE
LARGELY FUNDED FROM WITHIN A UNIVERSE OF OTHER
INSTITUTIONAL SOURCES...
BANKS
INSURANCE
ENDOWMENTS
COMPANIES
Private Equity
REITs
SPVs
Finance Co’s
Hedge Funds
PENSIONS Venture Capital SOVEREIGNS
Mutual Funds
CORPORATIONS FAMILY OFFICES
9 MARCH / 2013 UPDATE
10. ... WHICH ARE OFTEN THEMSELVES PROFESSIONALLY
MANAGED INTERMEDIARIES & OTHER AGENTS
ASSOCIATIONS Banks SOVEREIGNS
Insurance Endowments
Companies Private Equity
Hedge Funds
Corporate Credit
Venture Capital
Mutual Funds
Family Offices Pensions
CORPORATIONS BANKS
10 MARCH / 2013 UPDATE
11. AS RISKLESS COMPENSATION FOR AGENCY SERVICES IS A
CAPITAL DRAIN FROM THE MARKET (OFFSET BY THE UNIQUE
VALUE-ADDED OF THE AGENCY FUNCTION)...
$- compensation
Principal Agent Principal
$
11 MARCH / 2013 UPDATE
12. ... THERE IS INCENTIVE TO DISINTERMEDIATE CAPITAL FLOWS
& SIMPLIFY COMPLEX MARKETS
BUSINESS
CORPORATIONS VENTURES
CAPITAL SOURCES
CAPITAL USERS
PRIVATE
INVESTORS
INSTITUTIONS
/FUNDS SOVEREIGNS
BANKS
MUNICIPALITIES
CONSUMERS
12 MARCH / 2013 UPDATE
13. BUT INFORMATION EFFICIENCY WILL ALWAYS BE CENTRAL
TO A PROPERLY FUNCTIONING CAPITAL ENVIRONMENT
BANKS
information
$
CREDIT CARD CO’S $
$
INSURANCE information
COMPANIES information
HEDGE FUNDS $
$
$
ENDOWMENTS $
PRIVATE
information
$
EQUITY $
CORPORATE $ $
VENTURE CREDIT $
CAPITAL information $
MUTUAL FUNDS $
SOVEREIGNS $
information
PENSIONS
information $ $
CORPORATIONS $
$ $ $
FAMILY OFFICES TRANSFORMATION $ $
information
13 MARCH / 2013 UPDATE
14. THE FUTURE BANK WILL BE
A MEDIA CONGLOMERATE:
INGREDIENTS CURRENTLY IN PLACE
MARCH / 2013 UPDATE
15. VARIATIONS OF MEDIA (SYNONYMOUS WITH INFORMATION
FLOW) ARE AT THE CORE OF EFFECTIVE INTERMEDIATION
information information
Principal Agent Principal
information information
15 MARCH / 2013 UPDATE
16. WHEREAS BANKS HAVE TRADITIONALLY BEEN BUILT ON THE
FOUNDATION OF CAPITAL, THEIR VALUE IS BASED ON
ACCESS, ANALYSIS & PACKAGING OF INFORMATION
information information
Data
Analysis
[BANK]
Networks
Ideas [MEDIA CO.]
Advice
information information
CONTENT DISTRIBUTION
16 MARCH / 2013 UPDATE
17. THE OPEN WEB HAS ENHANCED & BROADENED THE FLOW OF
INFORMATION & ITS ACCESS
Facebook Google
Amazon Apple
17 MARCH / 2013 UPDATE
18. THE PERVASIVENESS OF SOCIAL MEDIA HAS EXPANDED THE
REACH & SCOPE OF INFORMATION
Facebook Google
Amazon Apple
18 MARCH / 2013 UPDATE
19. MOBILITY & APPS HAVE FACILITATED THE IMMEDIACY OF
INFORMATION DELIVERY
Facebook Google
Amazon Apple
19 MARCH / 2013 UPDATE
20. TRANSACTIONAL PLATFORMS ARE BEING PERFECTED &
CONSUMERS HAVE BECOME ACCUSTOMED TO ELECTRONIC
COMMERCE
Facebook Google
Amazon Apple
20 MARCH / 2013 UPDATE
21. AS TECHNICAL CAPABILITIES & CONSUMER PREFERENCES
COMBINE FOR A DEMOCRATIZED & FRAGMENTED MARKET TO
THRIVE...
INF
L OR
IA
M
C
AT
SO
IO
N
Facebook Google
Wikipedia
Yahoo!
Gilt
Amazon Apple
NT
TRA
ME
NS
C IN
A
RT
A
TI
ON E
AL ENT
21 MARCH / 2013 UPDATE
22. ... KEY FUNCTIONAL ELEMENTS ARE ALSO EVOLVING...
SECURITY ANALYTICS
DATA
EDUCATION VISUALIZATION
22 MARCH / 2013 UPDATE
23. ... & REGULATORY ACTIVITY APPEARS TO BE IN TUNE WITH
THE SOCIAL ENVIRONMENT
FINRA Opens Door for Social Media
with New Rules
Socialware, January 9, 2012
http://blog.socialware.com/2012/01/09/finra-opens-door-for-social-
media-with-new-rules/
JOBS Act would make crowd funding
of small businesses legal for people
who aren’t accredited investors
PandoDaily, March 17, 2012
http://pandodaily.com/2012/03/17/after-some-initial-doubts-im-sold-
on-the-jobs-act/
23 MARCH / 2013 UPDATE
24. INGREDIENTS ARE THUS FALLING INTO PLACE FOR
ENHANCED & COST-EFFECTIVE INFORMATION FLOW &
CAPITAL ACCESS...
INF
L OR
IA
M
M
C
A
AT
SO
I
IO
N
Wikipedia
SECURITY ANALYTICS
Yahoo!
DATA
EDUCATION VISUALIZATION
REGULATION
REFORM RELAXATION
Gilt
NT
TRA
ME
NS
IN
C
A
TI A
R T
ON TE
AL EN
24 MARCH / 2013 UPDATE
25. ... FACILITATING DISINTERMEDIATION AT A QUICKENING PACE
& THE DIRECT INTEGRATION OF FINANCE & MEDIA
INF
L OR
IA
M
M
C
A
AT
SO
I
IO
N
Wikipedia
Yahoo!
FINANCE
Gilt
NT
TRA
ME
NS
IN
C
A
TI A
R T
ON TE
AL EN
25 MARCH / 2013 UPDATE
27. ESTABLISHED MEDIA PLATFORMS HAVE LAID IMPORTANT
GROUNDWORK IN THE COMBINATION OF MEDIA & FINANCE...
MEDIA
BLOOMBERG CNBC
PR NEWSWIRE CAPITAL IQ
DOW JONES ETRADE
FINANCE
27 MARCH / 2013 UPDATE
28. ... & THIS IS BEING BROADENED WITH INNOVATIVE
SOLUTIONS...
DATA
SECURITY RESEARCH
TRADING NETWORK P2P
IDEAS/ADVICE CORP FIN
PAYMENTS / DEPOSITS
28 MARCH / 2013 UPDATE
29. ... CATERING TO AN EXPANDING USER BASE INCREASINGLY
ACCUSTOMED TO NEW TECHNOLOGIES & STYLES...
INDIVIDUALS
INSTITUTIONS CORPORATIONS
IDEAS
INVESTORS TOOLS ANALYTICS ISSUERS
ACCESS
NEWS/PR INFLUENCERS
ADVISORS
29 MARCH / 2013 UPDATE
30. ... RANGING FROM THE PROVISION OF DATA & INFORMATION...
BANKRATE
OPERA SOLUTIONS
YAHOO FINANCE
CB INSIGHTS
CRUNCHBASE
30 MARCH / 2013 UPDATE
31. ... TO THE EXCHANGE OF IDEAS...
STOCKTWITS
SEEKING ALPHA
FUTUREADVISOR
ETORO
BENZINGA
COVESTOR
31 MARCH / 2013 UPDATE
32. ... TO PRIVATE CAPITAL SOURCING & CROWD-FUNDING...
SECONDMARKET
KICKSTARTER
AXIAL MARKET
FUNDERS CLUB
ANGELLIST
32 MARCH / 2013 UPDATE
33. ... TO PEER-TO-PEER (P2P) & OTHER LOAN PRODUCTS...
PROSPER
LENDING CLUB
FUNDING CIRCLE
POLLENWARE
33 MARCH / 2013 UPDATE
34. ... TO THE MECHANICS OF CLEARANCE & PAYMENTS...
SQUARE
AFFIRM GOOGLE
WALLET
DWOLLA
STRIPE
PAYPAL
34 MARCH / 2013 UPDATE
35. ... TO CONSUMER MARKET OFFERS & BIDS...
GROUPON
GILT
STUBHUB
EBAY
ETSY
FOURSQUARE
35 MARCH / 2013 UPDATE
36. ... TO THE EVOLUTION OF ALTERNATIVE CURRENCIES &
TRADABLE VALUE SYSTEMS, VIRTUAL & REAL...
FACEBOOK
CREDITS
BITCOIN
PEERINDEX
KLOUT
36 MARCH / 2013 UPDATE
37. ... SETTING THE STAGE FOR NEW CAPITAL FLOWS & NEW
MARKETS TO FORM & EVOLVE...
BANKS SQUARE
CREDIT CARD CO’S BANKRATE FB CREDITS
INSURANCE
HEDGE FUNDS
COMPANIES
STOCKTWITS SECONDMARKET
KICKSTARTER LENDING CLUB
ENDOWMENTS
PRIVATE
EQUITY
CORPORATE PROSPER FOURSQUARE
VENTURE CREDIT STRIPE
CAPITAL
MUTUAL FUNDS
ETORO PAYPAL
SOVEREIGNS EBAY
DWOLLA
CORPORATIONS
PENSIONS GROUPON ANGELLIST
FAMILY OFFICES
STUBHUB BITCOIN
COVESTOR
ESTABLISHED EVOLVING
MARKETS PLATFORMS
37 MARCH / 2013 UPDATE
38. ... ALL BASED ON EFFICIENT INFORMATION FLOW & A
SUPERIOR ECONOMIC MODEL
INFORMATION
INFORMATION INFORMATION
$ $
Principal Agent Principal
$ $
INFORMATION INFORMATION
INFORMATION
38 MARCH / 2013 UPDATE
40. MARKETS ARE COMPLEX MECHANISMS THAT REQUIRE
INTEGRATION (EVEN WHEN DISINTERMEDIATED)
INVESTORS ISSUERS
SUPPORT
CONSUMERS MERCHANTS
INTEREST
ANALYTICS
GROUPS
BUYSIDE MARKETS SELLSIDE
UNDERWRITING VENDING
ADVERTISERS RESEARCH TOOLS NEWSWIRE
PR INFLUENCERS
40 MARCH / 2013 UPDATE
41. DISPARATE PLATFORMS ARE A FIRST STEP TO A HOLISTIC
SYSTEM IN WHICH CAPITAL & INFORMATION ARE CO-JOINED
SQUARE
information
$
BANKRATE FB CREDITS $
$
information
STOCKTWITS SECONDMARKET information
$ $
KICKSTARTER LENDING CLUB $
$
information
PROSPER FOURSQUARE $ $
STRIPE information $
ETORO PAYPAL information
EBAY $ $ $
DWOLLA $
GROUPON ANGELLIST information $
information
STUBHUB BITCOIN $ $
$
COVESTOR information
FRAGMENTED EFFICIENT,
FUNCTIONAL,
DEMOCRATIZED
41 MARCH / 2013 UPDATE
42. THIS EVOLUTION WILL TAKE TIME, EXPERIMENTATION &
SUPPORT OF THE MARKETS’ CONSTITUENCIES
BUSINESS
CORPORATIONS VENTURES
CAPITAL SOURCES
CAPITAL USERS
PRIVATE
INVESTORS
INSTITUTIONS
/FUNDS SOVEREIGNS
BANKS
MUNICIPALITIES
CONSUMERS
42 MARCH / 2013 UPDATE
43. IN THE COURSE OF THIS EVOLUTION, THE CURRENT AGENCY
SYSTEM WILL INCREASINGLY ADAPT TO A MORE
DECENTRALIZED SOCIAL ENVIRONMENT...
Investors
Banks
Issuers Consumers
Analysts Credit
Money Card
Managers Co’s
Lenders Builders
Traders Advisors
Sellers Brokers Borrowers
Buyers
43 MARCH / 2013 UPDATE
44. ... IN WHICH THE NEW (DIS)INTERMEDIARY WILL LIKELY BE
THE NETWORK ITSELF
INFORMATION
INFORMATION INFORMATION
Investor $ PayPal Issuer
$
Square StockTwits
Lender Borrower
SecondMarket LendingClub
Principal Network Principal
FutureAdvisor Dwolla
Buyer Seller
AngelList CB Insights
Consumer $ $ Builder
Bankrate
INFORMATION INFORMATION
INFORMATION
44 MARCH / 2013 UPDATE
45. WHERE ARE YOU IN
THIS LANDSCAPE?
WHERE ARE YOU
HEADING?
MARCH / 2013 UPDATE
46. CONTACT INFORMATION
TO DISCUSS FURTHER:
CoRise Co., LLC
535 Fifth Avenue, 4th floor
New York, NY 10036
Telephone: (646) 532-6690
email: info@coriseco.com
www.coriseco.com
46 MARCH / 2013 UPDATE