Banking | Finance | Insurance & IT in BFSI

 Payroll cards are prepaid cards provided by companies to compensate their employees. They are almost similar to regular debit or credit cards and permit employees to access their salaries without requiring a bank account. The employer deposits the salary onto the card, enabling the employee to withdraw cash, make payments or shop online. These cards are especially helpful for workers without bank accounts. They save time for employees since they do not need to visit banks or wait in long queues to cash a cheque. Moreover, payroll cards are safer when compared to carrying cash in the wallet, thereby reducing the risk of loss or theft. The payroll cards sector is experiencing considerable growth. The use of payroll cards has increased in recent years because of the rise in adoption of digital payment solutions among businesses. These cards streamline payroll processes for companies and offer convenience to employees. Technological advancement and the move toward cashless payments ar...

Purchase order financing is a short-term financial solution that helps companies fulfill large customer orders. This situation often arises when a business lacks sufficient inventory or cash or is unable to utilize cash reserves. It acts as one of the financial management tools applied by companies seeking to complete considerable orders without damaging their cash flow. Sometimes, a company receives a customer order that exceeds its current inventory. Restocking the inventory quickly would require a significant cash infusion, which isn’t always feasible. This is when small business owners turn to purchase order financing for help. Startups and seasonal businesses are also examples of companies that might benefit from PO financing. One of the key advantages of purchase order financing companies is their speed. They evaluate and approve funding requests much faster than traditional banks. The top purchase order financing companies can deposit funds into a business’s account within 2...

A commercial property insurance policy is mainly designed to help protect business or commercial property in case of damage or loss brought about by acts of nature like earthquakes, tsunamis, and eruptions of volcanoes. A commercial property insurance policy covers all damage to a business’s properties. There are other types of commercial insurance products, including general liability insurance, professional liability insurance, property insurance, and home-based business insurance. Commercial insurance covers product liability, vehicle insurance, and business interruption insurance. Usually, commercial property insurance consists of key components, such as the cover page, common policy conditions, and general declarations. This policy covers various usual commercial property risks. Germany’s strong economy creates a stable environment for businesses, thereby driving higher demand for commercial property insurance. A positive economic outlook supports investment in commercial properti...

  Key takeaways: § Asset-based lending overview § Accounts receivable in ABL § Technological advancements § Industry strategies and collaborations What is asset-based lending? Asset-based lending (ABL) is a kind of loan in which a business is able to stabilize funding by using its assets as collateral, which include inventories, accounts receivable, or devices. This makes it easier for companies to get loans when they need funds, primarily when they have limited credit history or require instantaneous access to cash. Therefore, asset-based lending helps businesses finance short term liabilities or grow without having to approach industrial banks for loans. There is an increase in the demand for ABL because businesses prefer to utilize their assets instead of relying entirely on conventional bank loans. The increasing need for working capital and expansion opportunities drives the growth of the market. ABL permits companies to unlock value from assets they already own, helping them ...