How to Improve Decision Making in Business?

Decision Concept

Decision-making plays a critical role for businesses to avoid risks and improve the bottom line. According to Alan Safahi, a professional entrepreneur and San Francisco-based startup founder, decision-making involves identifying an issue, gathering data, and evaluating alternative resolutions.

Safahi Orinda argues that a step-by-step decision-making process allows for thoughtful actions, thanks to the organization of the relevant information. When you follow this approach, it increases the likelihood of choosing the most appropriate alternatives. Here is how you can improve decision-making in business. Read on!

Collect Relevant Information

Gather relevant information before making a business decision. Ask yourself, “what information do I need?’ Find the best sources of data and determine ways to get it. Remember, this process involves internal and external work.

For example, you will seek internal information through a self-assessment process. External sources of information are the internet, book, research papers, reports, etc. Collecting pertinent data is essential because it helps you make an informed decision.

Moreover, look at the company’s goals and prioritize. Remember, any decision you make for your business starts with a goal or objective. Next, find and present pertinent data, and use software applications to analyze the data.

Next, draw conclusions from the generated insights, plan your strategy, and measure the efficacy of the primary and alternative solutions. If you can’t find or collect relevant data, make sure you repeat the process and focus on additional information sources.

Identify the Alternatives

As you gather data, you need to identify potential paths of action or determine alternatives. According to Alan Safahi Orinda, use your immigration and additional information sources to establish new alternatives. Likewise, list all possible alternatives and choose the one that best fits your business needs.

Evaluate the Evidence

Draw on your collected data and emotions to analyze which alternative you want to carry out. Evaluate whether the need identified earlier would meet or resolve by using your chosen option.

Favor a few alternative solutions when going through the challenging internal process. Select those with a higher potential for reaching your business goal. Likewise, place the alternatives in a priority list or order while focusing on the value system of your business.

Take Action

Once you have measured the evidence, you are finally ready to choose the alternative that aligns with your business. You can also select a combination of different alternative solutions. The purpose is to equip yourself with enough information to take positive action by implementing the chosen alternative for a business decision.

Review Your Decision

The final step is to review your decision. It involves considering the result of your decision and assessing whether it has resolved the identified or determined decision or problem.

If the decision does not meet the identified need, you can repeat the process and make a new decision. However, Safahi says it requires collecting detailed information or exploring additional alternatives.

Safahi says evaluating the significance of the decision, reviewing its benefits, analyzing the cost of reversing your decision, and determining what’s best for your business. That way, you can take appropriate actions and improve your business’s bottom line.

Originally Posted: https://alansafahicontracosta.com/2022/06/29/how-to-improve-decision-making-in-business/

5 Growth Industries for Entrepreneurs

According to Alan Safahi, an entrepreneur who runs a profitable company in San Francisco, starting your own business gives you the freedom to financial stability and create enough wealth to live a happy life.

If you want to become your own boss, you need to find the industries on the rise. Today’s article will list the five growth industries for entrepreneurs to invest in and achieve their goals. Read on!

1. Green Startups

Environmentally friendly or green investments can provide substantial profits because the world makes significant efforts to mitigate the harmful effects of climate change. According to the Oxford University research study, sustainable businesses can lower operating costs and generate higher profits with improved share prices.

Therefore, green startups are an excellent opportunity for entrepreneurs to focus on and start their own businesses. In addition, companies that focus on eco-friendliness have caught the venture capitalists’ attention, meaning you can make a lot of money in this industry. As an owner of an eco-conscious company, you can leverage generous tax incentives and generate more income.

2. Drones

Drones have become popular in recent years, and the industry is booming. According to Brand Essence Market Research, the drone industry will see a growth of 12.3% every year, and by 2027, it will reach a whopping $41 billion.

So, whether you invest in drone stocks, start a drone manufacturing company, or develop software solutions for unmanned aircraft, you can generate a lot of money. Drones have applications in agriculture, real estate, construction, telecommunication, defense, photography, insurance, tourism, and many other industries.

3. Virtual Reality

Virtual reality and augmented reality have seen massive and rapid growth worldwide. According to Alan Safahi Orinda, the VR industry will dominate the various sectors, reaching a staggering $766 billion by 2025. The growth rate of virtual reality will reach 73.7% by 2025.

In addition to gaming, virtual reality has dominated the entertainment, education, architecture, automotive, healthcare, digital marketing, occupational safety, and eCommerce industries. Entrepreneurs have endless opportunities to start a business in the virtual reality industry.

4. Biotechnology

Although biotechnology is a relatively new sector, it has massive potential for streamlining the biological and medical industries. For instance, biotechnology and bioinformatics are the critical drivers behind gene therapy, personalized medicine, genetically modified crops, bioremediation, energy production, diagnostics, therapeutics, and waste treatment.

Recent studies show that the current CAGR rate of biotechnology is 15.83%. The industry will reach a whopping $2,438 billion by 2028. So, entrepreneurs have plenty of opportunities to start a biotech business. However, Safahi says that entrepreneurs seeking to achieve their goals in this industry must have a vision and understanding of the opportunities and challenges.

5. Cloud Computing

Businesses spend millions of dollars safeguarding their data, creating backups, and securing their networks via cloud computing. So, Safahi says establishing a cloud computing company and providing SaaS services has a lot of earning potential.

Research shows that the worldwide cloud computing market experienced a growth of 445 billion in 2021, and this will reach $947 billion by 2025 with a CAGR rate of 16.3%. So, it is a golden opportunity for entrepreneurs to develop cloud computing platforms or apps and market their business to generate higher profits.

Originally Posted: https://safahi.com/5-growth-industries-for-entrepreneurs-4e6d10e1fe5b

How to Improve Your Marketing ROI

Marketing

Calculating your marketing ROI is crucial because it provides valuable insights and improves your marketing strategy. It defines your goals and considers real numbers to measure the success of your marketing campaign.

The purpose is to empower yourself with data and optimize your marketing campaign. Here is how you can improve your marketing ROI. The following tips are based on Alan Safahi’s insights, a San Francisco-based entrepreneur and successful startup owner. Read on!

Choose the Right List

Choosing or creating the correct customer list is critical because successful businesses serve a more specific market. According to Alan Safahi Orinda, an effective marketing campaign targets customers interested in your product or service.

Recent research shows that 40% of direct mail success is due to the correct list of prospects. Therefore, you can reach your target audience and generate high-quality leads when you have the right list. Thus, you can increase your ROIs.

Timing is Critical

People don’t purchase groceries or veggies/fruits months before cooking. So, there is no need to create a list of prospects before your marketing campaign is ready. Information or data can spoil over time.

Studies show that prospects list go obsolete at a 15% rate or more every year. Therefore, timing is critical when launching your marketing campaign. Otherwise, you can’t improve your marketing ROIs.

Define Your Campaign Goals

Before launching your marketing campaign, ask yourself, “What will I achieve with this campaign?” According to Alan Safahi, different businesses have different marketing goals. For instance, some develop a strategy to establish their brand identity or improve their online presence.

On the other hand, other businesses aim to generate quality leads and increase sales. Therefore, Safahi Orinda recommends determining your marketing goals before launching the campaign. The purpose is to achieve your goal with a clear objective. Without a defined plan, you can’t determine success or measure your marketing campaign’s ROI.

Focus on Call to Action

A successful marketing campaign generates excitement among your potential and existing customers. The primary goal is to elicit responses. Not including a call to action is one of the most significant mistakes entrepreneurs and small businesses commit when measuring marketing ROIs. Alan Safahi recommends programs like:

  • Free consultations
  • Discounts
  • Promotional products
  • Buy-one-get-one-free offers

Use Multiple Communication Tools

Many consumers prefer email communication or social media engagement in today’s digital world instead of phone calls. However, Safahi recommends incorporating the traditional and contemporary communication channels to receive better and faster response rates. Eliminating one method will reduce the response rate by 25%. Safahi suggests:

  • Social media advertising
  • Search engine marketing
  • Direct marketing
  • Sales promotion
  • Public relations
  • Phone calls
  • SMSs
  • Email communication
  • Digital forums

Track Results and Calculate ROI

Once you have launched a campaign, it is crucial to perform A/B split tests over time and monitor the number of consumers who respond to your marketing campaign. It would help if you analyzed the common characteristics of your target audience.

The purpose is to collect data, analyze it, and generate valuable insights to reduce workload and increase your reach for future marketing campaigns. You can calculate the ROI manually or use software tools to save time.

Moreover, measuring marketing ROI requires you to take your product’s sales growth, subtract the total cost of marketing or advertising, and divide the number by the marketing cost. For example, If you have made $2,000 in sales and the marketing campaign cost was $200, the ROI is 900%. The simple formula is:

$2,000-$200 = $1,800

$1,800 / $200 = 900%

Originally Posted: https://safahi.com/how-to-improve-your-marketing-roi-59719a964e6f

Marketing for Small Businesses in 2022

Businesses

Marketing is an integral part of your overall business strategy. According to Alan Safahi Orinda, a successful entrepreneur and owner of a growing startup in San Francisco, effective marketing is essential to small business survival and achieving its full potential.

Although most small business owners think of marketing as placing ads, it is broader than advertising. Safahi says marketing involves strategies to communicate with customers, present a message to the target audience, understand consumers’ needs and wants, and influence perceptions.

Why is Marketing Important?

Businesses of all types and sizes need customers. Marketing is the process of attracting customers, engaging them via valuable content, improving your brand loyalty, increasing sales, and generating higher returns on investments.

It involves various aspects of your company and is fundamental to retaining existing customers and reaching new ones. Safahi says understanding the ins and outs of marketing can you develop a solid strategy, reach your target audience, and increase sales.

Where Can You Market Your Small Business?

In addition to the typical advertising or marketing methods, such as newspapers, TVs, radios, magazines, and business journals, look for effective techniques within your budget to achieve your goals.

If you have a small business, you must think outside the conventional methods and leverage creative marketing techniques. Safahi says successful marketing is not about how much you spend on advertising.

It requires developing targeted strategies that appeal to customers, generate their interest, and engage them. Safahi has created a long list of marketing techniques, including referral programs, brochures, direct mail, newsletters, blogs, Twitter, billboards, TV, refrigerator magnets, calendars, printed pens, signage on the storefront, e-newsletters, local magazines, and sponsorships.

Alan Safahi recommends combining the traditional and digital marketing platforms to reach your target audience. For instance, leverage the power of promotional activities, community events, word of mouth, trade shows, newspapers, business card placement, social media, local SEO, YouTube, and Pinterest.

Is It Necessary To Create A Marketing Plan?

A solid marketing strategy does not happen by accident. It requires careful planning, preparation, and analysis. According to Alan Safahi, developing a targeted, coordinated, and systematic marketing approach is essential.

Although you can create an informal or formal marketing plan, Safahi recommends a formal plan can help you communicate with stakeholders, including potential lenders and employees.

On the other hand, a less formal plan has numerous loopholes, preventing you from reaching your target audience and spreading your brand message. Therefore, create a formal program with a written timeline to achieve S.M.A.R.T goals and track your advertising or promotional activities.

Remember, a formal marketing plan goes hand in hand with your business goals and financial resources. For instance, when you lack funds or budget, you may not purchase an ad on TV. At the same time, TV ads are ineffective if your target audience does not watch television or spends less time on it.

Therefore, Alan Safahi suggests creating a marketing plan to know the preferred marketing channels of your target audience. Thus, you can tailor your strategy toward your customers, financial resources, and business objectives. Lastly, if you don’t have enough time to create a marketing plan, hire a professional marketer or service to do the job adequately.

Originally Posted: ​https://safahi.com/marketing-for-small-businesses-in-2022-173ba98e04c2

An Essential Guide to Budgeting for Small Business

Business

According to Alan Safahi, an experienced and skilled entrepreneur, small businesses deal with emergencies that create additional expenses, delays, and lost profits without a strategic budget or plan. 

Safahi Orinda, a successful startup founder, says small business budgeting requires careful planning and preparation. However, it would help if you did not complicate it. In other words, it must not be nerve-wracking and time-consuming. 

When you use advanced cutting-edge tools and best practices given below, you can take control and manage your budget planning. The purpose is to make accurate financial decisions and improve your business. Read on! 

Review Your Revenue

The first step is to identify your income sources that feed your business activities when building a budget. Once you have collected, analyzed, and detailed your income sources, you can tote them to calculate and analyze your monthly income. According to Safahi, develop your budget according to your company’s revenues instead of focusing on the profits.

Deduct Fixed Costs

Fixed costs are recurring and sustain your business operations. However, there is no set time or duration for a fixed cost because it can recur daily, bi-weekly, weekly, bi-monthly, monthly, quarterly, and annually. 

Collect relevant data, including information about your company’s revenues, to streamline the entire process. Generally, small businesses have fixed costs like taxes, rent, insurance, supplies, repayment of loans, and asset depreciation. 

Measure Variable Costs

In addition to deducting fixed costs, Safahi recommends measuring valuable costs because they contribute to your business’s ongoing operations. However, they also include discretionary expenses that boost your business’s visibility, growth, and profitability.

Your business may incur variable costs like utilities, office supplies, equipment repair or replacement, and marketing expenses. Therefore, Safahi Orinda recommends understanding, tracking, and analyzing variable costs to plan for additional enhancement to your company’s budget and adjust your cashflows.

Create a Contingency Fund

The business world is unpredictable and risky. Not having a contingency plan can put your company at risk and on the brink of collapse. According to Alan Safahi Orinda, a contingency plan can protect your business in times of financial crisis. 

Likewise, having a contingency plan works well with financial backups, including small business loans and additional infusions from investors. You can access the emergency fund immediately and protect yourself from additional debts.

Create Your P&L Statement

Create a profit and loss (P&L) statement based on the financial information or data. The purpose is to create a formal financial report and document your expenses, revenues, and profits/losses within a given period. 

Make sure you don’t create an overly complex profit and loss statement and follow the easy steps, such as adding up your revenue and expenses for the month and subtracting your costs from the total revenue. Alan Safahi says that when you have a positive result, you have made a profit. 

On the other hand, a negative figure means you have made a loss. Anyway, a profit and loss statement is an integral component of your budgeting plan, streamlining the financial side of your business.

How to Pitch Ideas to Investors

Investors

Having a solid business idea encourages you to invest appropriately and create sales and profit. The successful implementation of a business idea allows you to invest in more products and services, streamlining your business processes and putting it in the right direction.

On the other hand, if you have a terrible business idea, you will have a higher likelihood of facing the competition. According to Alan Safahi, a professional entrepreneur and founder of a San Francisco-based startup company, entrepreneurs must know the correct pitching of their business.

Even if you don’t plan to pursue funding, a solid elevator pitch enables you to understand your business inside and out. Safahi says this will help you seek out investment in the future. Here are a few ways entrepreneurs can effectively pitch their business ideas. Read on!

Learn About Investors

Alan Safahi Orinda emphasizes the significance of recognizing and learning about investors. Keep in mind that investors do not make mistakes with their money or investments and look for professional, organized, and experienced team leadership qualities and high-performance capabilities.

Most investors research the business background and seek industry knowledge before accepting proposals. Therefore, Safahi recommends thinking about the questions investors might ask because this helps you identify the primary linkages that need thorough explanation. For instance, such questions include:

  • Do the financial results align with your strategic priorities?
  • Do you have a solid plan to mitigate risks?
  • Do your operational key performance indicators align with your financial performance?
  • What are your long-term goals? How will you achieve these goals?

Be Honest and Brief

Investors have a habit of asking many questions. Therefore, Safahi says, it is crucial to answering your questions honestly. Avoid covering up the uncertainty by overpromising an investor. Likewise, you must not provide false information about your business.

Investors have the experience to recognize your company’s limits. Therefore, you must look at the realistic state of affairs. Otherwise, you may not convince the investor to interpret the results. In addition, investors want to know why and how your company will generate a return and provide comfort and safety to their capital.

According to Alan Safahi , using accounting software to export the income and statement and balance sheet is not enough. You must understand how graphs, charts, and reports work to ensure the stakeholders better interpret your business financials and make the right conclusions.

State Your Business Goals

Business goals are an integral part of your overall strategy. Not only do business goals provide the essential milestones to measure your business success, but they also set your company’s direction. Stating your business goals plays a critical role in effectively pitching your idea.

However, you must think about what is your company trying to achieve with the investor? The success rate is higher when you anticipate and address the investor’s questions upfront. That way, you can convince the external stakeholder to invest in your startup.

Originally Posted: https://safahi.com/how-to-pitch-your-ideas-to-investors-c3bd5749183d

Financial Tips for Entrepreneurs

Business

According to Alan Safahi, a professional, skilled, and experienced entrepreneur and founder of a successful startup company in San Francisco, entrepreneurship allows people to say goodbye to the traditional 9-5 job, create their own businesses, polish their skills, and achieve their goals.

An entrepreneur makes a living doing what they love, focuses on constant development/growth, and creates a positive impact on society. However, 80% of small businesses quit in their first five years due to a lack of financial knowledge and literacy. Today’s article will give you seven financial tips to streamline your operations. Read on!

1. Establish Financial Goals

Having a financial goal will give you an outlook on how you see your money and make informed decisions to achieve a better and stable financial health. Entrepreneurs’ financial goals involve achieving a reliable profit margin and reaching their tangible objectives, including saving money, purchasing equipment, and generating higher returns on investments (ROIs).

Alan Safahi Orinda says it is crucial to allot regular time to set your goals, consult your numbers, compare your finances with your competitors, create solid action plans, document the overall progress, and track the records.

2. Create A Budget

Most entrepreneurs fail to create a budget for their business, leading to financial issues in the long run. A detailed budget based on real-time data is an essential tool that guides you to make informed decisions and optimize your business processes.

Creating a budget provides you with essential information for operating your business within your means. At the same time, you can manage unexpected situations, counter challenges, and generate higher ROIs based on your business needs or goals.

A comprehensive budget lets you identify your capital, estimate your expenses, and anticipate revenues. Safahi, a professional entrepreneur, recommends examining your revenues, subtracting fixed costs, identifying variable expenditures, setting aside an emergency fund, and creating your profit and loss statement when creating a budget.

3. Track Your Spending

Track your business’s finances can help you avoid legal penalties and grow your business. If you want to prevent lawsuits, expand your business, and implement reliable strategies without losing money, focus on tracking your spending.

Safahi recommends using advanced, cutting-edge financial tools and software applications to digitize your receipts, categorize and keep your expenses in a centralized location, and create a dedicated business bank account.

4. Keep an Eye on Your Credit Score

Managing your credit score is an essential factor when getting loans for your business. You can keep your finance in order and ensure better organization when you have an optimal credit history.

According to Safahi, an entrepreneur must build a credit history, make payments on time, keep their credit utilization low, and find ways to boost their credit score. Don’t forget to check for errors in your credit report. If you find any errors, make sure you fix them immediately. Monitor your credit file for unauthorized and fraudulent activity.

5. Separate Your Business and Personal Finances

When you mix your personal and business finances, you become prone to financial mismanagement. Keeping your personal finances separate from your business asset can protect your business from experiencing legal penalties.

Therefore, Safahi suggests that entrepreneurs open a business bank account, apply for a credit card, use it wisely, and pay themselves a salary to manage their personal finances. In addition, separate your business receipts and educate your business employees on using business finances wisely.

6. Set Up An Emergency Fund

No business can survive without an emergency fund. For instance, many entrepreneurs have closed their business doors due to a lack of emergency funds to tackle the harsh consequences of the Covid-19 pandemic.

So, every entrepreneur must set an emergency or contingency fund to bridge the gap between temporarily ceasing business operations and going out of business. The fund will help you pay your bills on time and reduce the number of liabilities. At the same time, you can continue running your business.

7. Seek Help from Professionals

Although it is wise to learn essential concepts of business finance, Alan Safahi recommends hiring a financial advisor to avoid complications. A financial professional has years of experience and skills to make the most out of your capital investment and optimize your business.

Originally Posted: https://vocal.media/journal/7-financial-tips-for-entrepreneurs

7 Ways for Entrepreneurs to Boost Leadership Skills

Leadership Skills

Effective leadership is essential to entrepreneurial success. According to Alan Safahi, an experienced entrepreneur with an excellent track record and the founder of a successful startup company in San Francisco, entrepreneurs with strong leadership skills outperform their competitors by:

• Acting proactively

• Making informed decisions

• Navigating through complexities

• Improving business efficiency

• Anticipating and reacting to challenges.

1. Improve Your Emotional Intelligence

According to Alan Safahi Orinda, emotional intelligence allows entrepreneurs to understand and manage their emotions. It also lets entrepreneurs recognize and influence the thoughts/feelings/emotions of people around them.

Safahi says four competencies, including self-management, self-awareness, relationship management, and social awareness, are essential for improving your emotional intelligence.

A growing body of research evidence shows that 90% of top entrepreneurs have high emotional intelligence. So, when you build your emotional intelligence, you can bring the best in yourself and cultivate successful teams.

2. Focus on Employee Management

Employee management is an integral component of successful leadership. According to Safahi Orinda, highly engaged employees deliver premium-quality services to customers, attract new ones, and produce better outcomes at work.

A better employee management strategy can help you keep your employees engaged and more loyal to your business. At the same time, your employees will experience less burnout in their specific roles.

Therefore, base feedback on observations, delegate work, foster transparent and streamlined communication channels, show recognition, respect your employees, and support learning and development to maximize your team’s performance.

3. Learn the Art of Negotiation

Most entrepreneurs find it challenging to navigate challenges due to a lack of negotiation skills. Although negotiation is chaotic because you don’t know the desired outcomes of people seated across the table, you can improve your skills by doing research, practicing negotiation skills, such as keeping your mind open, setting appropriate and S.M.A.R.T goals, turning your anxiety into excitement, stay agile, and take a timeout.

4. Strong Decision-Making is Key

Decision-making is crucial for your business. Recent studies show that 20% of entrepreneurs and business professionals believe that strong decision-making can help them excel in their business domains.

Safahi recommends assembling a team of professionals to navigate the decision-making process. When you build a team, make sure you streamline communication channels and collaborate to map the technical, cultural, and political underpinning of the decision and develop a reliable solution for your problems.

5. Identify Your Leadership Style

Identify and establish your personal leadership style because it informs you on how to motivate yourself and your employees and handle challenges. A leadership style entails a consistent behavioral pattern across how you make decisions, collaborate with others, and utilize your time.

For example, imprint leadership allows you to get experience from people you lead and work with within your organization. Focus on the operational practices you employ to mobilize your employees and get things done.

Motivations are another aspect of leadership that focus on desires, stimulations, and incentives, driving you to take a specific course of action that aligns with your business goals.

6. Understand Your Motivations

Understanding your motivations requires you to equip yourself with resources to succeed as a leader of your organization. However, Safahi says it is crucial to understand what inspires and motivates you to do your best work.

When examining your motivations as a business leader, consider external rewards that stimulate you, such as higher productivity levels and more significant R.O.I.s. Safahi also recommends taking stock of intangible motivations, such as creating a sense of belonging to your duties at your company and encouraging others to work on new projects that can expand your business.

7. Engage in Leadership Training

Last but not least, leadership training benefits you at any stage of your entrepreneurial career. In addition to developing and practicing skills required for empowering your employees, you must also undergo training and seek help from successful business leaders. That way, you can learn and grow your leadership skills optimally.

A step-by-step Guide to Starting a Fintech Company

Fintech, also known as financial technology, is a popular term used these days. According to Alan Safahi Orinda, the founder of a startup company and experienced entrepreneur, digital technologies can improve the way financial companies respond to their customers’ needs and streamline their transactions.

People use fintech when they use a credit card to purchase items online, subscribe to services, or invest via PayPal, Apple Pay, Google Wallet, etc. Today’s article will guide you to start a fintech company. Read this post carefully to understand each step and make the most out of your business.

STEP 1: Choose a Specific Domain

Choosing a specific domain and subdomain is essential when starting a fintech company. For instance, perform research to determine which subdomain in the industry aligns with your goals. Likewise, identify a target audience by focusing on specific demographic groups, regions, or countries.

According to Alan Safahi, some of the most common subdomains in the fintech industry are lending, investment management, mobile banking, Insure-Tech, loans/advances, cross-border payments, global money transfers, crowdfunding, financial products, and blockchain-based financial solutions.

STEP 2: Build a Team of Professionals

Once you have identified your subdomain or niche, it is time to build a team of professionals, including technical and financial experts. The purpose is to collaborate with these professionals and let them develop an innovative fintech app for your business. Make sure the technology partner or association you choose is within your budget.

For example, you can choose a software development company in your local area to develop a fintech app. However, it is crucial to find a company with years of experience and talented technical experts.

You can research online, ask entrepreneurs in your local area, and gather enough information to make an informed decision. If your budget allows, you can build an on-site team of professionals to create a software application at an affordable cost.

STEP 3: Explore Your Funding Options

Alan Safahi says bank loans, crowdsourcing, angel investors, and startup competition are the most reliable options for funding your fintech company. However, Safahi argues that an entrepreneur must develop a minimum viable product or MVP before accessing funds from third-party investors.

You can get enough funds to develop a software application for your target audience when you develop an MVP. Remember, giant fintech companies followed the same pathway.

STEP 4: Develop an Innovative App

The bottom line of a fintech company is to develop an innovative app. The application must align with your subdomain goals or business objectives. Safahi recommends choosing appropriate technologies and incorporating them into the app to ensure everything goes well.

According to Safahi, fintech entrepreneurs must focus on specific features, such as biometric sign-in, user-first navigation, voice-assisted banking, personalized UI and UX, data visualization, API integration capabilities, and blockchain technology.

For instance, blockchain allows entrepreneurs to build a reliable and secure fintech application. So this will enable consumers to trust your app and make transparent transactions without worrying about security issues.

In addition, leverage the power of artificial intelligence and machine learning algorithms to analyze real-time data and make informed decisions. AI and ML can detect unauthorized and fraudulent activities in digital banking, Insure-Tech, and financial management fintech companies.

Originally Posted: https://safahi.com/a-step-by-step-guide-to-starting-a-fintech-company-c6d972a4919c

Role of Candles in Religious Ceremonies

What is a Candle?

A candle is an object that emits light and can be used to provide warmth. The term “candle” is usually reserved for a wax or paraffin-based object that is lit to produce light, and hence to read by, or provide heat, or both.

The word “candle” was first recorded in Middle English as “candel”, from Old Northern French “candela”. It was one of the earliest words borrowed from Latin into Old English.

A candle consists of a wick embedded in wax or another flammable solid substance such as tallow that provides fuel for the flame.

Candles in Ancient Cultures

The Ancient Egyptians were the first to use candles. They used them in religious ceremonies and rituals.

The ancient Egyptians were the first to use candles. The Egyptians used them in religious ceremonies and rituals, as well as for everyday life. Candles were a sign of light in the dark, and they also helped to keep insects away.

Candles are a very old invention that dates back to Ancient Egypt. Candles were used in religious ceremonies and rituals, as well as for everyday life. Candles have been around for thousands of years, dating back to Ancient Egypt when they were used for both religious ceremonies and every day life purposes such as keeping insects away from homes or providing light during the night time hours.

The ancient Chinese used them as a symbol of purity and as a substitute for incense.

The use of incense in China dates back to the time of the Shang dynasty and was used as a symbol of purity. These days, it is used in religious ceremonies and rituals.

The use of joss sticks is believed to have originated in China during the Han Dynasty.

Joss sticks are typically made from the dried stems, leaves, and flowers of plants like sandalwood, clove, and frankincense. Joss sticks are usually burned on an altar or brazier to produce a fragrant smoke that is considered pleasing to the gods or spirits being honored.

Candles are lit during religious ceremonies such as Christmas and Easter, symbolizing the light of god’s love breaking into our world — it is sometimes used as a decoration on Christmas trees .

In parts of India, Greece, Spain and Brazil, people use candles to mark periods in their lives (births, deaths) or their personal achievements (passing an exam) — the practice is called “lambing” or “candle lighting”.

A candle is traditionally used to light a bride’s way down the aisle during an Irish marriage ceremony. In some cases, the bride carries a long-stemmed branch of ivy or greenery as she walks.

Difference Between Rituals and Ceremonies

A ritual is a set of actions that one may perform to achieve a specific goal. Rituals are often performed in order to bring about some change or to maintain balance. Ceremonies, on the other hand, are rituals that are performed for a specific occasion. The difference between the two is that ceremonies have an intrinsic purpose while rituals may not have one at all.

Role of Candles in Religious Ceremonies

“Candles are used in many religious ceremonies as they symbolize one’s willingness to receive the light of God” according to Alan Safahi, San Francisco entrepreneur, investor and an advisor to Candle Labs, Inc., a cryptocurrency company that aims to decentralize religion by enabling creation of tens of thousands of online Metaverse churches that use Candle tokens (CNDL) for donations and other spiritual purposes.

“There are five reasons why candles are so important in religious ceremonies” says Safahi:

1) They represent light and enlightenment.

2) They are symbolic of Christ, the light of the world.

3) Candles represent a shared commitment to the faith by all those present at the ceremony.

4) The light from candles is a sign that God is present and blessing our efforts to live more faithfully.

5) Candles remind us that we need not fear darkness, for God is always there with us, even in times of trial and sorrow.

How Candles Represent Spiritual Meaning

Candles have been used for centuries in religious ceremonies and rituals. They are a symbol of spirituality and faith.

There are many religions that use candles in their practices, but there are some common themes that most faiths share. For example, “candles can be used to signify the presence of God or to represent a person’s intention to live as a good Christian or Muslim” says Safahi.

Candlelight is seen as a way to pierce the darkness of the night, just like how our spiritual beliefs were meant to pierce the darkness that is life.

“When someone’s life ends in candlelight, it is a symbol of hope and peace that someone has left this world, to enter the next” continues Safahi.

“Candles are often used in memorials or other times of mourning as well as in religious ceremonies, as part of a celebration or in prayer” adds Alan Safahi.

Are all Religions Accepting Candles?

Candles are a great way to get the perfect ambiance for any occasion. But not all religions approve of them.

In Judaism, candles can be used for both religious and secular purposes, as long as they are kept in a safe place when not in use.

In Islam, candles are forbidden unless they are used for decoration or in a mosque.

In Hinduism, some followers believe that lighting a candle can help to cleanse the soul and offer it peace after death.

The Catholic Church does not forbid the use of candles because it believes that there is no prohibition against their use in the Bible.

Conclusion

Candles are a very old invention that dates back thousands of years in connection with religious ceremonies as a symbol of spirituality and faith.

Candles are used in memorials or other times of mourning as well as in religious ceremonies, as part of a celebration or in prayer.

Religion in the 21st Century

How is Religion Changing in the 21st Century?

The 21st century is a time of change. Technology is changing the way we live, and it’s also changing the way we think about religion. Some people believe that technology has made religion irrelevant, while others believe that it’s given them a new perspective on their faith.

“We are living in an age where technology is prevalent and accessible to everyone. And with the rise of social media and mobile devices, more people than ever before can access religious content whenever they want” according to San Francisco Entrepreneur, Investor and advisor Alan Safahi.

But it’s not just access to information that has changed; there are other factors as well. For example, our understanding of religion is being influenced by cultural changes like globalization and urbanization.

In this section we will talk about how all these factors have led to changes in modern day religions, such as:

how religious thinking has changed as science has come to play a more important role in our society;

how new religions have arisen, like some of today’s popular religions;

and how modern day religion is linked with politics.

How Science Changes Religious Thinking

As science has come to play a more important role in our society, religious thinking has changed.

The world of science is one that is constantly changing and growing, and this can be hard for some people to grasp.

It can be difficult for some people to accept the idea that there are things in the world that have not yet been discovered or explained.

Many people find it easier to believe in a higher power or spiritual being than to accept that there are things about the universe or human life that cannot be explained.

This is because for many people, believing in something – anything – gives them comfort and hope.

Science has evolved from being a mere subject of study to being a way of life, and as it has come to play an increasingly important role in our society, people have begun to view religion differently.

In the past, science was seen as something that was separate from religion. It was an intellectual pursuit that had little bearing on anything that happened in the world. However, now science is seen as something that can be applied to our everyday lives and can help us understand how the world works. In this way, it becomes more difficult for people to believe in things like miracles or divine intervention because these things are not scientifically proven.

This change in thinking has led many people to stop believing in religion altogether because they see it as outdated and unable to adapt with the changing times.

The Rise of Popular Religions

Many religions have been created throughout history. Some of the most popular religions today, like Christianity, Islam, and Hinduism, were all created in the past. New religions continue to be created every day. The new religions of today may not be as popular as Christianity or Islam but they are still important to those who follow them.

Some new religions are about nature and the environment. Others focus on dreaming and what happens when you sleep. Still others believe that animals have souls and deserve respect from humans too. These new faiths can teach us a lot about ourselves if we take the time to learn about them.

“Many of these modern day religions are now created online on Metaverse using NFTs and other Web3 tools provided by companies like Candle Labs (www.candlelabs.org) that enable simple and easy account creation and fast growth of followers without the real world restraints of physical building”.

“In the case of Candle Labs, they even provide a cryptocurrency token called CNDL that can be used for collecting donations and burning Candles after online prayers” says Safahi.

How Modern Day Religion is Linked with Politics

Religion, as we know it in the 21st century, is not the same as it was centuries ago. The old religions were more about rituals and customs, while the new religions are more about politics and power.

There are many different types of modern day religions that have been created by people across the world in different periods of time. Some people say that this is just an effect of modernization on religion, but others argue that these new religions are creating a divide among people and making them forget their common values.

Modern day religions have a unique relationship with politics that is different than what might be expected. It is not always negative and can even be beneficial for churches and governments. For example, it has been shown to benefit them by providing support with followers and volunteers for many causes, as well as funding extravagant buildings and events.

What are the Benefits of Religion for Humans?

Religion has been a part of human life for centuries. It has served as a means of finding meaning in life, as well as providing people with a sense of community and belonging.

There are many benefits to religion, including:

-Religion provides people with a sense of community and belonging.

-It provides people with meaning in life.

-It helps people cope with difficult times.

-It offers hope for the future.

How are we Defining Religious Freedom in the 21st Century?

The way we define religious freedom in the 21st century is a contentious issue. There are many different and often conflicting perspectives on what it means to be free in religion. This essay will explore some of these perspectives and try to answer the question: “What does religious freedom mean?”

“In an increasingly secular world, people are starting to see religion as a choice instead of an innate aspect of who they are” says Safahi. “This has led to people feeling that they have more freedom in their religious beliefs”.

“However, this perspective is not shared by all people, especially those who were raised with certain religions or faiths that were forced upon them” continues Safahi. “For these individuals, religious freedom may mean being able to practice their faith without pressure from outside forces like family members or society at large”.

Millennial Beliefs on Religion

In the 21st century, there is a growing number of millennials who are not religious. There are many reasons for this change. One reason is that millennials have grown up in an era when there has been more exposure to different religions and beliefs. They have also grown up in an era where they have seen more scientific discoveries and technological advances which may make them question the existence of a divine being.

Millennials are also less likely to be religious because they live in a time where they have access to more information than ever before on their smartphones and computers. This access makes it easier for them to research different religions without having to go into a church or temple or mosque. Millennials are also less likely to be religious because many of them grew up with divorced parents or parents who were never married in the first place.

Gen Z Beliefs on Religion

The Gen Z generation is a unique group of people. They are the first generation to grow up with the internet and social media. This has shaped their beliefs in religion and how it should work in the 21st century.

This generation is more exposed to religious teachings than any other before them. They are more likely to be exposed to religious teachings because of their upbringing, as well as through social media channels that they use on a daily basis, which makes them the ideal target for Metaverse churches.

Centralized vs. Decentralized Religions

The centralization of religion is a common practice in the modern world. The idea behind this is to make it easier for followers to find an answer to their spiritual questions. However, there are some disadvantages that come with centralization.

The centralized nature of religion means that all decisions are made by one authoritative body and all followers have to follow these rules without question. This can lead to suppression of individual beliefs and the imposition of certain values on society as a whole which may not be beneficial for everyone.

On the other hand, decentralized religion means that different religions exist side by side and there is no single authority or set of rules which followers must follow.

For example, Candle Labs offers their clients who wish to create their own Metaverse virtual church, to take advantage of CNDL governance tokens to enable their followers to democratically vote on all matters of significance to their church or house of worship.

This gives people more freedom in their spiritual practices and allows them to explore different beliefs and values without feeling pressured into following any one set of them.

Additionally, “it takes the power away from centralized, organized churches and empowers tens of thousands of smaller, more flexible and relevant churches that better cater to their followers’ spiritual needs” according to Alan Safahi.

Conclusion

Religions has evolved in the 21st century, catering to the ever changing needs of their constituents who crave a simpler, local and less centralized religious establishments that allows them to remain spiritual without the rules and corruption of the larger ones.

Centralized religion make it easier to follow a religious leader and allows them to keep the population under control. However, people don’t have a choice in what they believe and they can be easily brainwashed.

By decentralizing religion, companies like Candle, enable people to have more choice in what they believe and remove the power from the centralized religion to tens of thousands of smaller, geographically distributed online churches that can better connect with their younger followers.

Originally Posted: https://safahi.com/religion-in-the-21st-century-b550a6812dc2

5 Ways to Develop an Entrepreneurial Mindset

Entrepreneurial Mindset

Running a business requires commitment, consistency, diligence, passion, and resources. According to Alan Safahi Orinda, a successful entrepreneur who runs a lucrative startup company in San Francisco, developing an entrepreneurial mindset is crucial to running a more streamlined and stable business.

Safahi says the entrepreneur mindset separates a successful businessperson from an unsuccessful one. The reason is that the seat of all matters is in mind. Entrepreneurship requires individuals to focus on processes needed for setting up and running a business optimally without risks.

In addition, an entrepreneur’s mindset is the mode of thinking to reach a particular goal. Bear in mind that a person’s perspective affects the situations around them, especially in business. Today’s article will give you five practical tips to develop an entrepreneurial mindset. Read on!

1. Set SMART Goals:

Everything starts with setting SMART goals. SMART refers to specific, measurable, attainable/achievable, relevant, and time-oriented goals/plans. Alan Safahi advises everyone who wants to become a successful entrepreneur to focus on SMART goals.

The reason is that SMART goals can push you further, give you a sense of direction, organize/manage business operations, and support them achieve their goals. As a result, you will clearly understand what you want to achieve, when you want to accomplish it, and how you can get the job done!

2. Become Self-Accountable:

In addition to setting SMART goals, you must develop self-accountability skills to understand your strategy and actions. At the same time, you must know that actions have good or bad consequences.

So, when something goes wrong, you must take responsibility for your actions, even if things are out of your control. When you develop a sense of responsibility, you can figure out the causes of problems and implement an actionable strategy to resolve them.

According to Alan Safahi, mistakes, errors, and failures are inevitable in all businesses. However, self-accountability allows entrepreneurs to push through challenges and differentiate between a successful and unsuccessful business.

3. Develop Problem-Solving Skills:

Developing problem-solving skills is the most critical characteristic or component of an entrepreneurial mindset. When new problems arise, you can use your problem-solving skills to resolve them instead of making excuses.

On the flip side, most entrepreneurs choose to blame the game instead of facing the actual issues. Consequently, this action worsens your mindset as a business enthusiast.

Alan Safahi says good things do not come to people who wish for them. Instead, good things come to entrepreneurs who work toward them. So, if you want to make the most out of your business, develop problem-solving skills.

4. Improve Teamwork Skills:

According to Alan Safahi, go alone if you want to go efficiently and faster. However, Safahi also says that if you want to go far, make sure you go together with your team. What does this mean?

It means successful entrepreneurs know they must work collaboratively with their employees as team members and practice leadership skills. Collaboration also includes inviting partners and stakeholders. Always think of “We” instead of “I.”

5. Eliminate the Fear of Uncertainty:

Growing and expanding your business and becoming a professional entrepreneur requires you to get out of your comfort zone and eliminate the fear of uncertainty. Safahi says the fear of the unknown is entrepreneurs’ biggest enemy that takes a massive toll on their mental health.

Although fear is a natural hazard, causing varying problems to your mindset. However, when you refuse to move out of your comfort zone, it will affect your mental health and prevent you from leveraging opportunities.

Originally Posted: https://safahi.com/5-ways-develop-entrepreneurial-mindset-a8279a19bbab

5 Benefits of Business Coaching for Entrepreneurs

Business Coaching Entrepreneurs

Business coaching provides guidance, motivation, focus, and support to entrepreneurs, allowing them to grow their companies and run successful businesses. A business coach guides and supports the startup owner or entrepreneur in running and growing their business.

Many entrepreneurs hire a business coach to improve all aspects of their personal and professional life. For instance, you can hire a business coach to identify your strengths and weaknesses. At the same time, a coach helps you stay accountable and on the right track to accomplish your goals. Read on!

1. Helps in Goal Setting:

According to Alan Safahi, a reputable startup founder and owner and a successful entrepreneur in San Francisco with extensive knowledge and experience, business coaching helps entrepreneurs set goals and priorities, making the most out of their day-to-day tasks.

The purpose is better time management, increased productivity, and better product-market fit, boost sales, and generate higher returns on investments (ROIs). Besides, if you want more time to optimize your business processes, hiring a business coach can help you focus on prioritizing critical tasks.

Businesses coaches will help you think clearly and let you take your time to develop a solid plan. For example, when you have more time for planning and goal setting, you can analyze better and generate valuable insights.

Thus, you can use these insights to make informed decisions and focus better on revenue-making opportunities. You can achieve faster growth with more focus, confidence, and an actionable approach.

2. Provides a Strategy for Higher ROIs:

Business coaching allows startup owners and entrepreneurs to increase sales and generate higher profits because they provide you with productivity tools and resources to develop a better strategy.

In addition to helping you develop a sophisticated strategy, a business coach can also help you identify your strengths, weaknesses, and opportunities. The purpose is to streamline your business operations in less time.

3. Improves Self-Image and Confidence:

Self-image, self-esteem, and self-confidence are essential characteristics of an entrepreneur’s personality and mindset. These capabilities allow entrepreneurs to identify potential issues and follow a proactive/preventative approach to mitigate the risk of the problems.

When things do not go according to your plan, you may lose confidence and experience stress, anxiety, and depression. That’s why a realistic and optimistic mindset is essential for entrepreneurs

For example, when your company’s products/services do not perform well and your competitors outperform you, you can quickly lose confidence and develop thoughts of quitting your business.

On the other hand, when you have a business coach, you can seek continuous guidance and support to safeguard yourself against harsh situations while maintaining your self-esteem and confidence.

4. Makes an Entrepreneur Accountable:

A business coach helps entrepreneurs and company owners stay accountable and accept their mistakes when something goes wrong. According to Safahi, personal accountability is one of the most crucial characteristics of an entrepreneur’s personality. It allows them to avoid distractions and reduce the risk of feeling overwhelmed when things don’t go in their favor.

So, having a coach will hold you accountable and help you stay on the right track. Many entrepreneurs get blindsided by obstacles and challenges, but those who hire a business coach allow them to overcome complications.

The reason is that a coach or mentor instills the thought of maintaining belief in yourself. Likewise, a coach will provide you with resources, including case studies similar to your situation, allowing you to boost your motivation.

5. Streamlines Financial Plans:

Most entrepreneurs shut the door of their companies or businesses in the first two years because they fail to manage their finances. The problem occurs when you think of ways to grow your business, but you don’t have a solid marketing and financial operations plan.

Alan Safahi says a business coach has years of experience and extensive knowledge of small and large companies. So, whether you run a small business or small-medium enterprise, a business coach can help you manage your finances.

How to make your startup more Productive

Starting your own business has many advantages, including financial advantages over working for a salary or wage. However, starting a business is one thing, and maintaining it is another, meaning you must work hard to increase productivity and streamline operations to generate higher returns on investments.

According to Alan Safahi, a professional entrepreneur and founder of a successful startup in San Francisco, making your startup more productive requires careful planning and preparation. Safahi recommends the following important points to optimize yourself as an entrepreneur and make your business more productive.

Learn the Art of Saying No

According to Safahi Orinda, “time is money.” Time is the asset you have as a startup owner, requiring you to guard it because many people will try to get a slice of it. Safahi recommends assessing each situation and determining whether it is worth your time to attend an event, conference, meeting, party, or presentation.

When you say “Yes” to everyone, you may waste your time not focusing on essential business tasks. So, this is not something an entrepreneur or startup owner should do if they want to avoid complications. Remember, you should say “Yes” when it streamlines your business operations and helps you achieve your goals.

Eliminate the Multitasking Thinking

While many entrepreneurs think that multitasking can save them time and effort, this is a misconception. According to Alan Safahi, multitasking can take a massive toll on your physical and mental health because it is a biological impossibility.

Besides, everyone has a limited cognitive capacity. It means you can carry out a task depending on your focus on a particular job, whether for ten minutes or an hour.

When you want to make yourself and your startup more productive, it is wise to avoid distractions. So, the general rule of thumb proposed by Alan Safahi Orinda is focusing on one task at a time.

Avoid Burnout in Your Startup

Burnout is a significant problem for entrepreneurs and employees working at a startup. As a leader of the organization, you must not overburden your employees to ensure they maintain their productivity levels. That way, you can retain your employees and optimize your business operations.

Alan Safahi recommends staying vigilant and encouraging your employees to take necessary breaks to avoid burnout. For instance, if you think your employees feel deflated, overwhelmed, and unmotivated, make sure you prevent them from falling into the trap of working longer and harder.

Set Reminders

Safahi recommends using smart calendars and premium smartphone apps to set schedules and reminders for specific days to focus on critical tasks and prevent your brain from remembering things.

More importantly, Safahi advises young entrepreneurs to integrate apps with collaboration tools because they allow you to organize everything by topics, tasks, and teams.

In addition, set major milestone notifications and alerts at the department, team, and individual level to ensure everyone working in your startup company sets their tasks within the same channel for granular items.

Originally Posted: https://safahi.com/how-make-your-startup-more-productive-846dfd1fce0e

Complete Guide to Inflation and How it Affects Everyone

Introduction: What is Inflation?

Inflation is the increase of the average price level of goods and services in an economy over a period of time.

Alan safahi: Inflation is a concern for many people because it can lead to higher prices, which means that people need to spend more money. It also means that your money will not buy as much as it used to, so you may have to work harder or longer hours just to maintain your standard of living. Inflation can be caused by many factors, including supply and demand for goods, changes in government monetary policy, and more.

In recent years, the price of goods and services has been steadily increasing. This article explores various techniques and strategies that can be used to reduce the effects of rising prices.

Deeper Dive Into Inflation

Inflation is a measure of the increase in prices over a period of time. It is measured as the percentage change in the price level from one year to another. Inflation can be calculated by comparing the cost of goods from one year to another, or by comparing it with the cost of goods at some base year.

Inflation is a condition where prices rise on average. Inflation is a concern for many individuals and organizations, because an increase in prices erodes the purchasing power of money. In the last few decades, there has been an increase in the rate of inflation. This has led to an increased attention on inflation and how to deal with it. The cause of inflation is the change in the supply and demand for goods in the economy. Inflation occurs when there is an increase in aggregate demand and a decrease in aggregate supply.

“Inflation is a term that refers to the rise in prices of goods and services over a period of time” according to Orinda businessman and entrepreneur Alan Safahi.

“It can be caused by a number of factors such as increasing demand, scarcity, or production costs,” says Safahi.

There are many different ways to calculate inflation and each method has its own merits and drawbacks. The most commonly used measure is called “the Consumer Price Index” (CPI). The CPI measures how much prices have changed over time, but it only takes into account goods that are purchased frequently and ignores any changes in quality.

Anti Inflation Business Strategies

The strategies for dealing with inflation are not easy to come by. The general consensus is that the best way to deal with inflation is through an increase in wages for employees and an increase in prices for goods and services.

The key to the success of any business is to minimize the impact of inflation on it. The following strategies outline by Alan Safahi can help you in this regard:

– Reduce the cost of your products and services.

– Consider investing in a deflationary currency.

– Think about how you can reduce prices without cutting quality.

– Adjust your prices as per the current inflation rates.

– Increase your prices if you are confident that people will still buy from you.

– Keep an eye on what competitors are doing and adjust accordingly.

5 Real World Examples of How Inflation Affects Your Life

Inflation is a constant in our lives. It’s hard to predict and it’s hard to control.

Inflation is a term that we usually hear about in the news, but it’s not something that we really understand. This article will look at what inflation means, how it can affect your life, and finally how you can protect yourself against inflation. There are many examples of how inflation affects our lives today. From the price of gas, food and rent to the cost of education and healthcare, everything has gotten more expensive over time due to inflation. Let’s take a closer look at 5 real world examples where inflation has affected people’s lives for better or for worse. .

The Cost of Education The cost of a college degree has increased over time, but is this due to inflation? In theory, the answer is yes. However, the answer might not be so straightforward when you consider other factors. The price of textbooks and tuition have also increased in recent years which makes the cost of education even more expensive than it appears to be. It is essential that students have a plan to pay for college and take out enough student loans because the cost of tuition can be quite high.

How to Store Extra Money for the Next Economic Downturn due to Inflation

The economic downturn is a natural event that happens in a capitalist society. It is important to be prepared for it, especially if you have financial stability and are able to save up some extra money. The first step is to make sure you have enough cash on hand.

There are many ways of storing your money, but the most common solution is investing it in stocks, bonds or funds. Investing in these assets can give you higher returns than just keeping the money in cash.

Conclusion: Tips on How To Prevent or Reduce the Effects of Rising Prices With Various Techniques And Strategies

This article explored various techniques and strategies that can be used to reduce the effects of rising prices. The strategies discussed include maximizing spending and saving and looking for bargains.

The first technique discussed in this article is to use cash-back cards. These cards offer a percentage of cash back on each purchase made with the card. The second technique is to buy in bulk when items are on sale. This will help you save money, as it usually costs more when you buy items individually instead of purchasing them in bulk. The third strategy is to pay with a debit card instead of a credit card whenever possible because interest rates are lower for debit cards than for credit cards.

It is important to note that these are only some of the methods, and there are others as well. These techniques and strategies should be considered as a whole.

Originally Posted: https://safahi.com/complete-guide-to-inflation-and-how-it-affects-everyone-2bc04fc0e71a

Guide to International Business and Payments

International Business

Introduction: What is international business?

International business is the commercial activity between two or more countries. It is also referred to as international trade, foreign trade, or cross-border trade.

International business can be classified in three ways: export and import of goods, export and import of services, and direct investment.

Export is the sale of goods from one country to another country. Import is the purchase of goods from a foreign country. Services are intangible commodities that are exported by one country to another country. Direct investment includes equity investments in companies and other entities abroad, as well as purchases of property or factories overseas by domestic firms or individuals.

History of international trade

International trade is the exchange of goods and services between two countries. It is the most common type of trade and is often seen as a way to improve economies.

The history of international trade can be traced back to the ancient world, though it was not always called international trade. The earliest form of international trade occurred when goods were traded over short distances, like between neighbouring villages or towns.

The first recorded example of long distance trading was in Mesopotamia in 3000 BC when traders exchanged goods from India for silver from Anatolia.

This early form of international trade was known as bartering — exchanging one good for another without using money as a medium of exchange.

History of currency

The history of currency can be traced back to the ancient world. The earliest forms of currency were often a type of commodity money, such as cattle, cowrie shells, and salt.

The first coins appeared around 600 BC in Lydia (an area in present-day Turkey). These coins were made from electrum, an alloy of gold and silver that was mined in the Eastern Mediterranean region.

Cross Border Payments

As global trade became more common, the need arose for more sophisticated payments and trading books.

Venetian merchants traded in the Mediterranean and Black Sea regions, as well as along the coast of North Africa, to the Middle East, India and China.

The Venetians bought spices in Alexandria, grain from Sicily, silk from China. They purchased slaves from Africa to sell in Europe or to use on their ships. They also dealt in Eastern luxuries such as porcelain and spices.

Challenges with International Payments

Cross border payments are usually made for goods or services that are imported from other countries or exported to other countries. These types of transactions usually involve currency conversion which can be costly for the company and the customer. That’s why many companies have started using cross-border payment processors in order to avoid these costs and make their customers happy.

International payments are not easy. Different countries have different payment systems and it is difficult to keep track of all the different currencies. This is why it is important to use a cross-border payment service provider such as PayPal or Stripe that can help you with all your international transactions, regardless of where they are going.

In order to have a comprehensive global coverage with multiple payment types and redundancies, however, you will need to integrated with dozens of payment partners worldwide which is not feasible for most companies.

Fortunately, there are payment orchestration platforms and embedded FX and payments solutions that will make it easier by allowing you to integrate just once and access dozens of payment partners at once.

A good example of such a technology solution is Zed. “Zed offers access to global payment partners with multiple payment options such as bank transfers, mobile wallets or cash in 200+ countries and 150+ currencies with one single integration” according to Founder and CEO Alan Safahi.

These payment orchestration platforms like Zed also make it easier to manage your international payments without having a huge payments team. “We ingest data from all payment partners and offer a clean, timely set of reports on a monthly basis to help you reconcile your books in a day!” claims Safahi.

The Importance of Having the Right Partner

The right partner for international business is one that can provide the necessary knowledge, skills and expertise to help you achieve your goals.

What does it take to be the right partner?

“A good starting point is understanding what the clients really need” says Alan Safahi. “The right partner should be able to help you identify your needs and provide solutions that are specific to your industry, country and culture”. They should also have a deep understanding of how their own company operates so they can offer services that are tailored to your requirements”.

Conclusion

The world is getting smaller and businesses have to find ways to grow internationally to scaled and survive in the future. However, international payments are difficult and expensive for most companies to tackle on their own. It makes sense to look for embedded FX and payments solution providers that allow you to expand internationally overnight with a single integration.

Originally Posted: https://safahi.com/a-guide-to-international-business-and-payments-1724ec076eba

Summary of Conflict in Ukraine 

Background

Ukraine has been in a state of war since 2014, when Russia annexed Crimea and started supporting pro-Russian separatists in Eastern Ukraine. The fighting has so far killed over 10,000 people and displaced close to 2 million people from their homes.

In January 2015, the Minsk Protocol was signed by representatives of Ukraine, Russia, and the separatists. This agreement established a ceasefire and ordered both sides to withdraw heavy weapons from the line of contact. In February 2015, Ukrainian president Petro Poroshenko declared that he would not order Ukrainian troops to stop fighting because they were not technically in a state of war with Russia.

In September 2015, Ukrainian president Petro Poroshenko signed a law that allowed for Ukrainian citizens living abroad to fight on jm side, including those who fought against the Ukrainian government in 2014.

In January 2017, a peace deal was signed between Ukrainian President Petro Poroshenko and Russian-backed separatists in the country’s east.

On 17 June 2017, the Polish president Andrzej Duda said that he was ready to send troops to Ukraine to assist Ukrainian armed forces and other European countries should Russia give them a green light. On the same day, Ukrainian armed forces entered the town of Avdiivka, as well as other parts of Donetsk Oblast, in response to a failure by Russian-backed separatists to withdraw from Ukrainian territory.

Situation Today

After several years of preparation and months of Cyberattack on the Ukrainian government, Russia began an invasion of Ukraine on 24 February 2022.

The United States, the European Union, and Canada quickly imposed sanctions on Russia for its military intervention in Ukraine.

These severe sanctions against Russia have continued to increase and now include otherwise neutral countries such as Switzerland and Russian gas and oil-dependent countries such as Germany. 

They have also extended to include an American ban on imports of Russian oil soon to be followed by a UK ban of oil imports by the end of 2022.

“These sanctions are meant to punish Russia for its aggression in Ukraine and force it to withdraw from all of Ukraine including previously occupied territories of Crimea, Donetsk and Luhansk” says San Francisco entrepreneur, investor and advisor Alan Safahi.

Despite the sanctions, however, Russia has not backed down from its position on Ukraine. In response to the sanctions, Russia has increased trade with China and other nations in Asia. It has also threatened to restrict imports of food products from Western countries.

The Human Toll

The conflict in Ukraine has caused destruction of civilian infrastructure and casualties and has forced an estimated 2M+ people, mostly women and children, to flee their homes in search of safety.

“These refugees need protection and assistance for food and shelter in the countries they are fleeing to or a safe passage to their final destination” says Safahi. “That is why crypto communities have come together to donate millions of dollars in BTC, ETH, and CNDL to the Ukrainian government”.

Putin’s Failing Strategy

Things didn’t go as planned for Russia. They encountered severe resistance from the Ukrainian army and backlash from people around the world for their aggressive actions against their peaceful neighbour.

“Putin may be able to achieve his goals in Ukraine of preventing it from joining NATO or the EU in the short term but he will not gain the economic benefits from Ukraine that he may have expected due to the sanctions imposed on Russia by Western countries” according to Safahi. “He is now resorting to double down on his dictatorial moves to clamp down unrest that could lead to domestic uprisings in his own country”

Conclusion

The conflict in Ukraine is a result of Russian aggression and the annexation of Crimea which went practically unanswered by the rest of the world, encouraging Putin to continue to push further. Putin seems to have miscalculated the reaction of the world to his most recent aggression, which led to swift reactions and severe sanctions by Western countries that could potentially lead to Putin’s own demise in the long term.

Originally Posted: https://alansafahiorindaca.wordpress.com/2022/03/11/summary-of-conflict-in-ukraine/

What are Economic Cycles?

Economic Cycles

Economic cycles are the fluctuations in the business cycle. They are measured by the change in GDP, unemployment rates, and interest rates.

Economic cycles are the fluctuation of the economy over time. The economy goes through different phases, such as expansion, boom, recession, and contraction.

“Economic cycles are a measure of how an economy is doing” according to Alan Safahi, renowned San Francisco entrepreneur and Orinda businessman.

“The economic cycle is measured by three key indicators: gross domestic product (GDP), unemployment rate, and interest rate”.

Changes in Business Cycle Post Pandemic – Impacts of Change on Daily Life

The business cycle is the natural progression of the economy. It is a pattern of growth, decline, and recovery that repeats over time.

The business cycle has four phases: expansion, peak, contraction, and trough.

“There are many factors that affect the business cycle” says Safahi. “These include the government’s fiscal policy (spending and taxes), monetary policy (interest rates), international trade policies, technological changes, consumer confidence, economic growth rates in other countries, and natural disasters”.

The impacts of change on daily life are not always easy to predict but it is important to be aware of what these changes can mean for your lifestyle.

Case Study – Impact of global economic crisis in Canada

The global economic crisis of 2008 resulted in a number of changes to the business cycle. The changes were also felt by the world’s largest economies, including Canada.

Canada is considered to be one of the most stable economies in the world and has been since before the 2008 economic crisis. The country has experienced less than average unemployment rates and has not yet seen any major downturns in its economy.

However, there are changes that have occurred to Canada’s business cycle post-2008 that are worth noting.

The 2008 recession led to a significant decrease in employment rates, incomes, and GDP. This led to an increase in unemployment rates, which have risen steadily since then. The Canadian economy has also experienced a decrease in exports and imports due to the falling demand for commodities across the world.

Canada’s business cycle has changed significantly over the last decade as a result of the 2008 recession.

What is the Shoe Leather Hypothesis?

The shoe leather hypothesis (SLH) is an economic theory which states that demand for a product or service will rise as its price falls, up to a point where the price reaches zero. When this happens, no further increase in demand is possible and any further reductions in price will lead to reduced sales volume and hence lower revenues from sales (and higher unit costs).

This hypothesis was introduced by Alfred Marshall in 1890s. It states that the production and supply of a commodity is primarily determined by the amount of demand for it. The more people want a certain commodity, the more production and supply will be available to meet their needs.

The Shoe Leather Hypothesis was re-introduced by economist John Maynard Keynes in his 1937 essay “Economic Possibilities for our Grandchildren”.

The Shoe Leather Hypothesis is based on the idea that as the cost of living decreases, people will have more time to spend on leisure activities. This, in turn, will lead to an increase in demand for goods and services.

His hypothesis suggests that the development of new technology will lead to a future where people are so wealthy that they don’t need to work.

How Does an Economic Recession Occur?

Economic recession is a period of declining economic activity. It is usually associated with a decline in business investment, trade, and employment.

The most common measure of economic activity is the gross domestic product (GDP). The GDP is the value of all goods and services produced in a country over one year, adjusted for inflation. If the GDP falls for two or more consecutive quarters, an economic recession may be said to have occurred.

According to Alan Safahi, “the causes of an economic recession are complex and not completely understood. They can be caused by a number of factors such as the bursting of a speculative bubble, a sharp decline in investment or government policies”.

“A recession occurs when there has been a significant decline in aggregate demand with an accompanying contraction of production followed by a period of stagnation or slow growth” claims Alan Safahi.

Conclusion – How Changes of Business Cycles Post Pandemic Impact Our Daily Lives

The post pandemic period is considered to be the most turbulent time for the world economy. Business cycles were disrupted and also changed dramatically.

This had a large impact on our daily lives, especially in how we spend money, where we work, and what we buy. We will now explore these changes in more detail.

Originally Posted: https://vocal.media/journal/introduction-what-are-economic-cycles

How to Realize Your Brand’s Digital Potential With NFT Marketing

NFT

Non-fungible tokens (NFTs) are digital assets that can be traded, bought, and sold on a block-chain. They are not physical objects like a coin or a share of stock. Instead, they are digital representations of something that can be traded online.

These tokens are not interchangeable with other tokens of their kind, meaning they are not fungible. This is why they are called non-fungible tokens.

NFTs require a new approach to marketing that focuses on the unique features of the goods and services.

Here are a few tips for better marketing for your NFTs

1) Create a clear and consistent message about the product or service

2) Use social media channels for your product or service

3) Build an online community around your product or service

In order to market NFT, you need to have a clear understanding of the market. You need to know what the market needs and how it works. You also need to know what your competitors are doing and how they are performing in the marketplace.

The best way to get this information is by conducting research on your competitors, reading articles about the industry, and finding out what people in the industry are saying.

How to Achieve the Benefits of NFT Marketing for Your Brand

NFT marketing is a new form of advertising that has been growing in popularity. It is a great way to generate more exposure for your brand and create a more interactive experience with your customers.

“NFT marketing is the future of digital marketing” says Alan Safahi, Orinda businessman and entrepreneur. “Brands are starting to see the benefits of NFT marketing and are incorporating it into their campaigns”.

“With NFT, brands can create an interactive experience with their customers and get more exposure for their brand” continues Safahi.

What is the Difference between Branded Tokens and NFTs?

Branded Tokens are a form of digital asset that can be used to purchase items from a company.

NFTs are a type of digital asset that is unique and cannot be replicated by anyone.

NFTs are one-of-a-kind and cannot be replicated, but they can be duplicated.

Branded tokens can only be used to purchase items from the company that created them, but NFTs can also be traded for other assets on the blockchain.

NFT Marketplaces- A Tool to Expand a Brand’s Reach and Sales

NFT marketplaces are platforms that allow users to buy and sell NFTs with one another. These marketplaces are usually built on blockchain technology and can be accessed through a website or mobile app.

“NFT marketplaces provide an opportunity for brands to expand their reach and sales by allowing them to create their own tokens or NFTs which they can then sell in the marketplace” according to Alan Safahi. The tokens or NFTs are usually tied to the brand’s products, services, or events.

The first NFT marketplace was OpenSea, which launched in 2018. It was followed by Rare Bits, which is a marketplace for digital assets that are not on the Ethereum blockchain.

There are two types of NFT marketplaces- centralized and decentralized. Decentralized marketplaces have no central authority and they use blockchain technology to verify transactions. Centralized marketplaces can be hacked so they are less secure than decentralized ones.

Conclusion: The Future of Digital Marketing is here

NFT stands for Non-Fungible Tokens, which are digital assets that have unique and individualized serial numbers.

NFT is a new and emerging marketing strategy that has the potential to revolutionize the way we do business. It is a powerful tool that can be used for marketing and branding, but it also has the ability to transform retail.

NFT marketplaces are one of the newest trends in the crypto world. They allow brands to sell their products to a wider audience and generate more revenue.

Originally Posted: https://safahi.com/how-to-realize-your-brands-digital-potential-with-nft-marketing-66f089b4dbaa

A Guide to the Future of Work in Developing Countries

The future of work in developing countries is a topic that is often discussed in the media. However, there are many challenges to consider when talking about the evolving nature of work.

This article provides an overview of some of the debates around how to create jobs in developing economies, and what this means for the world’s workforce.

Introduction:

Developing countries have been facing a tough time when it comes to creating new jobs for their citizens. With automation taking over more and more sectors, it seems like there is no hope left for these countries. However, this article will show you how developing economies can create jobs with entrepreneurship and innovation.

The future is here and it is not all that bad. In fact, in some ways, it may be better than what we have today.

According to Alan Safahi, Orinda businessman and startup entrepreneur “the most valuable skills in the future will be creativity and emotional intelligence”.

Safahi adds: “We will need to be able to adapt quickly to change and find solutions for new problems that come up”.

In order to create a successful business in 2022 and beyond, “you should focus on building a culture of innovation where everyone has the opportunity to contribute their ideas” says Safahi.

How Emerging Economies are Spurring New Ideas and Inventive Solutions in the Workforce

Emerging economies are spurring new ideas and inventive solutions in the workforce. The digital economy is on the rise and it is transforming the way we work.

Emerging economies are the most important drivers of economic growth and job creation in the world. They are responsible for more than half of global GDP and most of the world’s population still lives in emerging economies.

The countries that have seen significant economic development over the past decade, such as China, India, Brazil, and South Africa, have all created new jobs and opportunities for their citizens.

There is a lot of talk about how to create jobs in developed economies but there has been less focus on how to nurture new ideas and inventiveness in emerging economies.

The Future is Now! How to Prepare for Tomorrow’s Workforce Now?

The future of work is already here, and it’s changing the way we live and work.

The world of work is changing rapidly, with new technologies transforming how we live and work. The traditional 9-5 office job is becoming obsolete as more people are freelancing, starting their own business or working remotely. More than ever before, workers need to be lifelong learners who can adapt to an ever-changing workplace.

The World Economic Forum’s new report on “Future of Work Trends 2020” provides insights into how companies can prepare for tomorrow’s workforce now.

The Future of Work report outlines the trends that will shape the future of work. The report provides insights on how developments in automation and AI will affect different countries and regions. It also examines how companies can prepare for the future of work by making sure they have the right people with the right skills to drive their business forward.

Role of Governments and Private Sector in Providing Better Business in 2022?

The governments and private sector need to work together in order to make sure that there is a good business environment in 2022.

The government’s role is to set up the necessary framework for a company’s success, while the private sector has more of a hands-on approach. The government provides an opportunity for companies to succeed by setting up laws and regulations that will help them grow, while the private sector helps them by providing them with tools and solutions that will help them grow.

The government needs to create policies that will help the private sector. The private sector, on the other hand, needs to invest in better education systems and workforce development strategies.

“Governments can provide advice to companies about how they can stay competitive in the future, while private sectors provide advice on how to make the most out of digital transformation” says Alan Safahi.

Overall Conclusion on the Future of Work from a Global Perspective

In conclusion, the future of work is going to be different from what we have seen in the past. AI will play a key role in shaping the future of work. With AI assistance, copywriters can put their skills to use in a more efficient way. They can make sure that they are not wasting time on skill sets that they don’t have and instead focus on what they are best at – creativity and emotions.

Originally Posted: https://vocal.media/journal/a-guide-to-the-future-of-work-in-developing-countries

Role of Government in Job Creation

Introduction

In the current state of the economy, it is difficult for businesses to create jobs. The government needs to step in and provide a solution. One way they can do this is by providing subsidies for business to hire more workers. They can also provide grants or loans for start-up companies that want to hire more people.

The government should not just hand out money and hope that these jobs will be created. They need to work with businesses and help them find the best solutions for their problems.

“The government needs to be more strategic in order to address the issues of unemployment” according to Orinda businessman and startup entrepreneur Alan Safahi.

They need to work with businesses and help them find the best solutions for their problems. This will allow for the creation of high-paying jobs that are more in demand in different industries”.

What is the role of government in job creation?

“The government has a role in job creation. The government can incentivize business owners to create more jobs by lowering taxes on labor and employment” continues Safahi.

Taxes on jobs and taxes on labor are two different concepts. Taxes on jobs are the amount of money that is taken from an employer’s profits, while taxes on labor are the amount of money that is paid by employees to the government.

Necessity for a Course Correction on Taxation

“The Tax Cuts and Jobs Act has been a boon for job creation, according to Safahi.

It is the first time in more than three decades that a tax reform bill has been passed with bipartisan support, and it is the first major overhaul of the U.S. tax code since 1986. The Act made significant changes to individual income taxes, corporate taxes, international taxation, retirement savings, and other areas of the law.

The need for a course correction on taxation became necessary because of the Tax Cuts and Jobs Act’s success in job creation. The measure is expected to create 1 million new jobs over 10 years as well as contribute to 3% GDP growth over that same period.

How to Transform Government from a Negative Force to a Positive Force for Job Creation

The government has always been seen as something that is an obstruction to business, but that is no longer the case. The view of entrepreneurs like Safahi is that the government can also be a positive force for job creation:

“The government should not be a hindrance to the growth of the economy. It should instead be a facilitator and a catalyst for job creation’ says Safahi.

The tax cuts will create jobs by making it easier for companies to invest in new projects and hiring more employees. The government can also provide incentives to companies that are creating jobs, such as tax breaks and other benefits, which would result in more job creation.

Originally Posted: https://safahi.com/role-of-government-in-job-creation-c6534b2f851b

How Business Alignment Techniques Create A Smarter, More Innovative Organizations in 2022

Business Alignment Technique

Business alignment is important in the age of AI, because it ensures that the business is not only able to keep up with new technologies but also make sure that they are not left behind.

In this article, we will explore some of the most important business alignment techniques in 2022 and how they can help you in your efforts to succeed.

“Businesses need to be able to align themselves with AI in order to be successful” says San Francisco serial entrepreneur and startup founder, advisor and investor Alan Safahi. This is because the future of business will involve a lot of automation and there will be less need for human labor. “If companies are not prepared for this change, then they will have a hard time keeping up with their competitors” continues Safahi.

What is a Business Alignment Technique & How Does it Work?

Business alignment is the process of aligning an organization’s activities to its strategy. It ensures that the organization is maximizing its potential by focusing on the right things, in the right way, at the right time.

Business alignment can be done through a number of techniques, including SWOT analysis, strategic organizational design, and portfolio management. These techniques are all used to assess what is happening in an organization now and what may happen in the future.

The business alignment technique can be used for both big organizations or small businesses with limited resources. The process helps them make informed decisions about their direction and how they are going to achieve it.

This technique helps align an organization’s strategy and operations with its business priorities. To do this, it uses a variety of approaches, such as:

-aligning the company’s strategy with its operations

-aligning the company’s culture with its strategy

-aligning the company’s people to its mission and vision.

This technique is often used by companies who want to create a unified organizational culture or to align their employees with their company’s mission and vision.

The Case For AI-Driven Organizations In The Coming Years

AI-driven organizations are on the rise. Many organizations are already using artificial intelligence to help them in their day-to-day operations. But the future of AI in organizations is about so much more than just efficiency. It’s about becoming an integral part of the organization, making it more efficient and effective.

While some may be wary of the implications, there is a lot of evidence that suggests that AI will be a boon to organizations and not a bane.

“AI will transform how we run our businesses, deliver products and services to our customers, and even change how we work. It will become a key pillar of any organization’s strategy, rather than an afterthought or something relegated to the IT department” declares Safahi.

The biggest advantage is that AI can do tedious and repetitive tasks with ease and accuracy. They can also perform tasks which are too dangerous for humans to do without any risk of injury or death. This means that more people can be deployed on meaningful work rather than doing menial tasks which do not require human intelligence.

How to Implement Business Alignment Techniques 2022 In Your Organization Today

Business alignment is a crucial factor for the success of any organization.

Business alignment techniques are not just about technology. They are about making sure that the organization is aligned with the goals of the business and that it has a strategy to achieve those goals.

This innovation strategy is about more than creating new ideas. It’s also about implementing them in an effective way.

The business alignment techniques for the 2020s will help you do both — create and implement new ideas in an effective way.

Here are some ways in which you can implement business alignment techniques in your organization today:

1. Map out the organizational goals and objectives:

2. Identify the key stakeholders and their interests:

3. Identify the critical success factors, constraints, and risks:

4. Establish a strategy that aligns with those interests from stakeholders, critical success factors, constraints, and risks:

5. Implement that strategy through specific initiatives or programs

Originally Posted: https://safahi.com/how-business-alignment-techniques-create-a-smarter-more-innovative-organizations-in-2022-e4079e444681

Open Banking 101: What is It, How it Works, and Why You Should Care

What is Open Banking?

Open banking is a new way of banking where you have control over your data and the ability to share it with other banks and financial providers.

Open Banking allows you to use your account information from one bank, for example, to set up a credit card from another bank. This means that if you have an account with one bank, but want to apply for a credit card from another, you can do so without having to fill out any forms or provide any additional information.

According to Alan Safahi, San Francisco entrepreneur and startup founder, “the idea behind open banking is that banks should share their data with third parties so that customers can get more out of their money”.

This means that you can find all of your financial information from different banks on one platform, such as where you keep your money, what credit cards you have, what loans you have taken out and so on.

“This opens up a whole world of possibilities for people who want to manage their money” continues Alan Safahi.

History of Open Banking Initiative

Open Banking was an initiative that aimed to make it easier for consumers to switch banks and for small businesses and individuals to access new services.

It was a set of regulations introduced by the UK’s Competition and Markets Authority (CMA) in 2014. The regulations required banks to provide data on customers’ finances, such as their account balances, mortgage repayments and overdraft limits, in a standard format. This meant that any bank can use the data from another bank’s customers if they wish to offer them better deals or services.

The idea has now fully expanded to thousands of banks across all of Europe and is starting to get a foothold in the U.S., Australia and Canada where laws are being continuously drafted to encourage bank participation.

Open Banking Regulations

Open banking is a new trend in the financial industry.

The Open Banking regulations are a set of rules that govern how banks and other financial institutions can share customer data with third parties. They are designed to make it easier for customers to switch banks and for banks to offer better products.

The regulations were introduced in the United Kingdom in 2014 and have since been also implemented in the European Union.

The U.S., Canada, and Australia have all implemented open banking regulations in the last few years.

The U.S. has been implementing open banking regulations since 2015 when the Dodd-Frank Act was passed into law. This act required that banks provide their customers with access to their data so they can use it with third-party providers of financial services like credit card companies, mortgage brokers, or investment advisors without having to give up their bank account information or passwords

Canada has also been implementing open banking regulations since 2017 when they passed Bill C-31 which required that banks provide their customers with access to their data.

The open banking regulations were introduced in Australia in 2018 to allow customers to share their financial data with third parties such as fintech companies.

The introduction has since been bringing about the benefits of open banking regulations for Australian customers.

The Benefits of Open Banking

The benefits of open banking are the ability to use a single account to manage all of your finances, and the ability to see what’s going on with your money in real time.

For businesses that are sending a larger number of cross border payments, Open Banking allows them to access multiple accounts in different currencies and easily move funds from the most optimum currency accounts to take advantage of the fluctuating foreign exchange rates which would have been too difficult and time consuming prior to to open banking.

The downside of open banking is that hackers are taking advantage of open banking by stealing people’s identities through these accounts. “This has given rise to a new generation of security tools and a new burgeoning privacy protection industry” according to Safahi.

The Open Banking statistics show that there are many benefits for both banks and consumers. For example, the number of people who have signed up for an account has increased by 50%. The number of people who have used an app has also increased by 50%.

How to Use Open Banking Apps to Make Your Life Easier

The apps for this technology are available on your smartphone, and they can be used in a number of ways. If you want to transfer money from one account to another, or if you want to compare different accounts — you can do it all through these apps.

The Open Banking Regulations require banks to provide customers with an open API (application programming interface) which can be used by third party providers, like fintech companies, to offer financial services. This means that you can now use your bank account for much more than just storing money — you can use it as a tool for investing, paying off your student loans or even making payments abroad!

Conclusion

The Open Banking Regulations are designed to give consumers more control over their personal data. Consumers will be able to easily switch banks and make international money transfers. They will also be able to access information about their finances in a more transparent manner.

Many experts like Orinda businessman Alan Safahi, startup founder and investor, however, are warning about the potential security risks associated with open banking which could make consumers as well as companies vulnerable to cyberattacks.

Originally Posted: https://vocal.media/journal/open-banking-101-what-is-it-how-it-works-and-why-you-should-care

Why You Need A Business Coach for Your Startup

Introduction: Why Do Entrepreneurs Need a Business Coach?

Entrepreneurs are typically very creative people. They have a lot of ideas that they want to share with the world. But, they often don’t have the knowledge or skills to make these ideas happen. This is where business coaches come in.

“Business coaches help entrepreneurs by providing them with knowledge and skills that will allow them to succeed in their business ventures” according to Alan Safahi San Francisco startup founder, entrepreneur and advisor. They do this by helping them develop a plan and giving feedback on specific aspects of their business and how it relates to the larger picture of entrepreneurship and success in general.

Ways that Coaching Can Help You Grow as an Entrepreneur

Coaching is an investment in your own future.

There are many ways that coaching can help you grow as an entrepreneur. Coaching can provide you with new perspectives, foster accountability, and bring new skills to the table. It’s important to find a coach who will work with you on your specific needs and goals.

Ways that Coaching Can Help Your Business Grow

In addition to personal growth as an entrepreneur, coaching is also a great way to help you grow your business. Safahi points out four ways that coaching can help you, as an entrepreneur:

1. Coaching helps you stay motivated and focused on the task at hand. It provides a sounding board for your ideas and plans, and helps you stay accountable to your goals.

2. Coaching can help with the hard decisions that come up in business, such as which projects to pursue or which employees to let go.

3. Coaching can provide a fresh perspective on things that have become stale or repetitive in your workday, and this can lead to new insights and creativity in how you do things.

4. Coaching provides accountability for your actions and behaviors — it’s easier to make good decisions when someone is holding you

The Importance of Networking and Mentorship as an Entrepreneur

Networking is the act of building connections with people in your industry. It can be done through social media, events, conferences, etc. Mentorship is when an experienced entrepreneur provides guidance to a budding entrepreneur or someone who’s starting their own business.

Networking and mentorship are crucial for entrepreneurs. They can provide a lot of benefits to the entrepreneur. For example, networking can help the entrepreneur to find a mentor or a potential investor. Mentorship can help the entrepreneur to learn from other people’s experiences and mistakes.

Networking is also important for entrepreneurs because it helps them to find new opportunities and expand their network. It is also helpful for them when they need to find new clients or employees.

The Dangers of Ignoring the Role of Business Coaching in Your Startup’s Success

Business coaching is a form of counseling and guidance that helps individuals and organizations to increase their business success.

The term “coaching” has been used in the sports world for some time, but it is only recently that this type of relationship has been applied to business. The benefits of coaching are many, including increased productivity, increased job satisfaction, reduced stress levels, higher morale among employees, improved customer service and retention rates.

One of the most important factors for a startup’s success is the entrepreneur’s ability to be coachable and to work with a coach or mentor.

According to Alan Safahi, “Business coaching is not just about getting advice on how to move forward, but also about identifying and overcoming personal obstacles that can hinder your success.”

The importance of business coaching cannot be overstated. It is not just about getting advice on how to move forward, but also about identifying and overcoming personal obstacles that can hinder your success.

Conclusion: The Importance of Hiring A Coach for Your Startup

If you are a startup founder, you know how hard it is to get your company off the ground. You have a vision in your head, but no idea how to translate that into reality. This is where coaching comes in. A coach can help you navigate the complexities of starting up and achieve success.

We’ve discussed some of the benefits of hiring a coach for your startup, but what’s even more important about hiring a coach is that it can make all the difference when it comes to achieving success.

Originally Posted: https://safahi.com/why-need-business-coach-for-startup-b47290806533https://safahi.com/why-need-business-coach-for-startup-b47290806533

Complete Guide to NFTs

Introduction: What Are Non-Fungible Tokens?

Non-fungible tokens are a type of digital asset that is unique and cannot be replaced by another token. They are often used in the crypto world as collectibles.

The name comes from the term “fungible,” which means interchangeable and mutually substitutable, like currency.

“In the crypto world, non-fungible tokens can be used for several purposes”, says Alan Safahi, Orinda, CA entrepreneur, advisor and investor. “They can represent ownership of a physical or digital asset, such as a piece of art or a virtual sword. In some cases, they can represent an event ticket or even an identity on the blockchain” continues Safahi.

What is a Decentralized App and How Does it Apply to the Fashion Industry

A decentralized app is an application that runs on a blockchain network. It has no central point of authority and relies on the consensus of its users to validate transactions.

A decentralized app runs on a P2P network. They are open-source, which means that they are not controlled by any single entity.

Alan Safahi explains that “A decentralized app is different from the traditional apps that are hosted on centralized servers because it doesn’t have a single point of failure. It also has no central authority to regulate it and it cannot be taken down by any one party.

The fashion industry is one of the most popular industries in the world, with a market size that exceeds $1 trillion. The industry has been growing at a steady pace for years, but now it faces new challenges. One of these challenges is the need to build trust with customers through transparency and accountability. This can be achieved by using blockchain technology to create decentralized apps which are less centralized than traditional apps.

NFTs and Blockchain Security in Apparel Supply Chain Management

The apparel supply chain is a complex process. There are many stakeholders involved and each one has their own responsibility to fulfill to make the process run smoothly. These stakeholders include brands, manufacturers, retailers, suppliers and logistics providers.

The blockchain technology can be used to ensure security in the supply chain management of the apparel industry. It can be used for tracing materials, tracking shipments and eliminating counterfeits by providing a secure system for data exchange between all stakeholders in the supply chain.

Originally Posted: https://safahi.com/complete-guide-to-nfts-and-how-they-are-disrupting-the-fashion-industry-ec5a9d6170dc

Complete Guide to Meat Substitutes

A plant-based meat is a meat that is made entirely or mostly from plants, including vegetables, grains, legumes, and fruits.

“The trend of eating less meat and more plant-based food is on the rise” says Alan Safahi, Orinda, CA entrepreneur and investor.

Many people are looking for alternatives to meat and its byproducts. Vegetarianism, veganism, and flexitarianism are now commonplace. The substitutes that we will now discuss are all made from plants, but they offer a variety of textures and flavors that mimic those of real meat.

The Impossible Burger is a meatless product made of wheat protein, potato protein, coconut oil and heme, an iron-containing molecule found in hemoglobin.

Beyond Meat may not be able to compete with Impossible Burger when it comes to taste but it sure has its advantages. The company produces plant-based alternatives to beef, chicken and pork with each Beyond Burger patty containing 23g of pea protein isolate, coconut oil for fat content, beet juice extract for color and flavor enhancer and soy sauce for texture.

Beyond Meat has many environmental benefits as well. Their Beyond Beef option delivers nine times less greenhouse emission compared to beef, and it also uses 99% less water.

What Health Benefits Can We Get from Eating Meat Substitutes?

We can get a lot of health benefits from eating meat substitutes. These include the prevention of chronic diseases, weight loss, and a healthier heart.

We all know that meat substitutes can be a great substitute for meat, but did you know they also come with some health benefits? Meat substitutes are a great way to cut down on your saturated fat intake and cholesterol intake. This is because they do not contain any cholesterol or saturated fats. They also happen to be low in calories and high in fiber, making them a perfect diet food.

What are other benefits of eating meat substitutes?

Plant-based meat substitutes are not only healthier, they are also more sustainable, and less expensive than their animal-based counterparts”, says Safahi.

A plant-based or vegan diet can have a big impact on the environment, and it may be something that you want to consider. In doing so, one of the main things that you will need to think about is what you eat when it comes to protein. This is where meat substitutes come in.

In these meat substitutes, the protein comes from a soybean base, which can give a lot of nutritional value but not a lot of taste. One alternative to this is the Impossible Burger, which has been made from plant-based proteins and has been created in order to have a much more natural taste than any other type of meat substitute. The Impossible Burger also has a much smaller environmental impact when compared with beef burgers because it doesn’t use animals in its production process.

A plant-based diet has many benefits for the environment. It reduces greenhouse gas emissions by about 300 million tons per year. If Americans reduced their consumption of animal products by 10% that would save about 100 million tons of CO2 equivalent per year. On the other hand, livestock production is responsible for 18% to 37% of all man-made greenhouse gas emissions. It’s estimated that the livestock industry produces 65 billion tons of manure annually, which releases methane into the atmosphere and contributes to climate change.

The meat substitute industry is growing rapidly as many people are turning to it as a healthy alternative to eating animal meats.

Why Are People Turning Away From Meat?

A recent survey of more than 10,000 people in the United States found that nearly a third of adults are trying to reduce their meat intake. The reasons for this trend are many and varied, but one thing is clear: meatless options are becoming more popular every day.

The vegetarian diet has been around for decades, but it is only recently that meatless burger patties and veggie burger recipes have become so readily available. In the past few years, a number of restaurants have jumped on the bandwagon, offering vegetarian options as a way to attract new customers. While other restaurants have begun to offer vegan menus as well.

Conclusion: Why You Should Give Plant-Based Meats a Try

Safahi believes that people should give plant-based meats a try because they are environmentally friendly, healthier than traditional meats, and can be used in many of the same recipes. 

Originally Posted: https://vocal.media/journal/the-complete-guide-to-meat-substitutes-and-how-they-re-saving-people-s-lives

Younger Generation’s Religious Trends And What They Mean For Future

What Does the Younger Generation Think About Religion?

Some people believe that religion is just for the older generation. They think that it is not important to them or their peers. But this is not true. Religion has a place in the lives of young people too. The younger generation does not see it as something they need to be concerned about but many of them are actually religious and spiritual beings.

Alan Safahi, San Francisco entrepreneur, startup advisor and investor claims that “The younger generation does not see religion as an important part of their lives, but many of them are religious and spiritual beings.” “Religion is important to them, but it does not define who they are” according to Safahi.

In recent years, millennials have been the most religious generation in the United States. In a 2016 Pew Research Center study, just over one-third of respondents aged 18–29 identified as religiously unaffiliated. But this doesn’t mean that they don’t believe in God. The same study found that more than three out of four millennials said they believe in God or a universal spirit.

How Religion Has Changed Among The Young Generation

The millennial generation is the cohort of people born in the 1980s and 1990s, and they are the first generation to come of age in a world where social media and smartphones were ubiquitous. Millennials are also less religious than their elders.

A recent study from Pew Research Center found that only 23% of millennials say they attend religious services at least once a month, compared with 36% of Generation Xers, 48% of Baby Boomers, and 65% of those in the Silent Generation.

Furthermore, only 5% of millennials say religion is very important to them, while 17% say it is not too important or not at all important to them. In contrast, 22% of Gen Xers said religion was not too important or not at all important to them.

Why Are Young People More Interested In Spirituality Than Religion?

“Millennials are the most educated generation ever. They are also the most stressed out” says Alan Safahi. This has led to a lot of millennials turning to spirituality, which is more about personal growth than religion. Spirituality is about finding your own meaning in life and it does not require any religious commitments or dogma.

As millennials grow up, they are less likely to identify with any religion or church. Religion becomes more about tradition for them and spirituality becomes more about their individual needs and beliefs.

Conclusion

The younger generation is more open-minded about religion. According to a study, Gen Z and Millennials are less religious than the previous generations. This is because they have grown up in a world with increased access to information and different religions. They’re not as influenced by what their parents believe and instead they’re more interested in trying out new things.

In addition, millennials are less likely to affiliate themselves with any specific religion since they don’t want to commit to one.

Originally Posted: https://safahi.com/younger-generations-religious-trends-and-what-they-mean-for-future-895660e31b23

History and Spiritual Meaning of Candles

Introduction: What is the history and meaning of candles?

Candles are a symbol of spirituality, purity, and hope. They are used for different purposes in various religions such as Hinduism, Buddhism, and Catholicism.

The history of candles dates back to the Ancient Egyptians. They were used as the only source of light during the night. The Egyptians used tallow, which is animal fat, to make their candles. The significance of candles changes depending on the color and type of candle you use.

The Origin and Meaning of Candle Lighting Ceremonies

Candle lighting is a common practice in many religions and spiritual practices. It is used to create a sense of peace and to offer light in dark times, according to San Francisco Startup advisor and investor, Alan Safahi.

Candle lighting can be done at any time, but it is most often done at sunset or during religious services. The candles are lit with the intention of creating peace, love, and harmony. The flame represents the light that we need in our lives when times get dark.

The first recorded instance of a candle lighting ceremony dates back to the Roman Empire. It was a practice that was done at nightfall to signify the end of the day and prepare for sleep. However, it wasn’t until the 3rd century AD when Christianity took hold in Rome that candles were used for religious purposes as well as for illumination.

Safahi believes that the use of candles in both Judaism and Christianity is seen as a symbolic act, to represent the light that Jesus Christ shone on the world. In Judaism, candles are lit on Friday evening as part of a ceremony called Shabbat or Sabbath which occurs from sundown on Friday until sundown on Saturday. In Christianity, candles are lit during Christmas Eve which is celebrated on December 24th every year to commemorate Christ’s birth.

Different Types of Candle Rituals for Different Occasions

Candle rituals are a tradition that is practiced in many different cultures. It is done for various occasions, such as the new-year, the winter solstice, and black Friday. Rituals can be performed in various ways, but they all have one thing in common: lighting a candle.

The following are some of the most popular types of occasions where candles are used.

· Penance
· Prayers
· Sympathy
· Illness
· Remembrance
· Get well wishes
· Birthdays
· Love / Joy / Happiness
· Meditation
· Holidays

Conclusion

Candles are an age-old tradition that dates back to the Roman Empire, where they were used as a way to honor the memory of loved ones. When someone died, it was believed that if their body was burned on a funeral pyre, their soul would ascend to the heavens. The Romans would release caged birds during this time as well in order to symbolize the release of the soul.

Today, people continue this tradition by lighting candles for different reasons — prayers, fundraising for charities or hospitals, sending condolences or get well wishes, birthdays and other happy occasions. Candles are also used as a meditation tool to help an individual find peace with themselves and their surroundings.

Originally Posted: https://alansafahi.weebly.com/blog/history-and-spiritual-meaning-of-candles

Complete Guide to DNA Tracing and How it Enhances Family Tree Genealogy

What is DNA Technology and How Can It Help Your Family’s Genealogy Research?

A person’s DNA is like a fingerprint that reveals who they are and where they might have come from.

Alan Safahi: DNA technology is a revolutionary science that has helped in solving crimes and finding missing persons.

DNA technology is also a great way to help your family’s genealogy research. DNA testing can reveal information about your heritage, where your ancestors are from, what you might look like, and it can even identify relatives you never knew existed.

DNA technology has been a boon for genealogy research, as it has enabled people to find their ancestry and discover their family history.

The success of this technique is due to the fact that every person on the planet inherits DNA from their parents, grandparents, and so on. In other words, DNA is a code that reflects one’s ancestry.

DNA technology is a fascinating field of study. It includes techniques used to identify mutations or changes in a person’s genetic sequence by comparing them to a reference sequence. This helps medical professionals diagnose genetic diseases, among other applications.

Ancestry DNA is one of the most popular DNA testing services on the market today. This test looks at over 700,000 markers in your DNA to give you a detailed breakdown of where your ancestors are from all over the world.

5 Amazing Uses for DNA Tracing Technology — from Gathering Data on Ethnicity to Finding Genetic Passions!

Alan Safahi: DNA tracing technology is an amazing innovation that has come to assist in many walks of life. Whether you are doing a genealogy test to learn more about your ethnic background, or are hoping to find out which of your ancestors has passed on hereditary traits, DNA tracing technology can help you. Read on for five more ways it can improve your life.

1) DNA Testing is an Effective Tool for Gathering Data on Ethnicity

This type of testing can help people explore their heritage and connect to their ancestors. Moreover, the knowledge collected from the DNA test can be used to find out more about one’s health and diseases.

2) Discover Your Genetic Family Tree with DNA Testing

If you’ve ever wondered about your family history, but aren’t sure where to start, genetic testing might be the answer. It might sound scary at first, but it’s actually pretty easy and painless. The process involves taking a swab of your cheek cells and shipping it off to a lab. Once they get the sample, they’ll test it for markers that are unique to your lineage.

3) Find Your Genetic Passions with DNA Testing

From medical research to genealogy, the world of DNA testing is a fascinating one. With new technology improving all the time, understanding your genetic passions has never been easier.

4) Use DNA Testing as a Tool for Medical Research

DNA testing is being used to identify genes that can cause a disease or a disorder. DNA testing has been a useful tool for medical research, as it has allowed scientists to better understand the causes of diseases. Recent advances in DNA testing have allowed scientists to study the genomes of people from different parts of the world and see how they are related to each other.

5) Employ DNA Tracing Technology to Advance Other Fields

DNA tracing technology is an amazing tool that can be used to advance other fields such as healthcare, law enforcement, and even entertainment. DNA tracing technology has helped solve crimes and identify the remains of soldiers who were lost in battle. It also helps doctors treat certain illnesses by finding the right medication for their patients. It’s an incredibly useful tool that we should all be thankful exists.

Conclusion: Aids in Finding Relatives and Trace your Ancestry with as Little as One Drop of Blood!

DNA technology is not only helpful in solving crimes but also helpful in tracing one’s ancestry with the help of just one drop of blood. It can also lead to medical, genetic, or paternity information that may even save lives,

In recent years, the use of DNA testing has become a popular genealogical tool. It is a way to learn more about your family tree and your own genes.

With this revolutionary science, ancestors can be traced with much ease without having to think about their race, religion, or ethnicity.

# # #

Alan Safahi is an entrepreneur, investor, advisor, futurist and amateur freedom fighter.

Safahi is a Principal at Safahi Global Advisor, an Orinda, California advisory and consulting firm specializing in banking, financial services, Fintech, money transfer and cryptocurrencies.

Originally Posted: https://medium.com/@safahialan/complete-guide-to-dna-tracing-and-how-it-enhances-your-family-tree-genealogy-4df5d5a98e64

Guide to Playing Cricket for Beginners

The History of Cricket

Cricket is a bat-and-ball sport played between two teams of eleven players. One team bats, trying to score as many runs as possible while the other team bowls and fields, trying to dismiss the batsmen and prevent them from scoring runs.

Cricket is one of the most popular sports in the world. It is the second most popular sport in both Australia and Pakistan.

It was traditionally played by peasants on village greens, but has now evolved into a trillion-dollar, international game. Cricket was first played as early as 1706 in England and became an international sport from 1844 onwards.

Cricket slowly spread from England to different countries around the world, including Australia, New Zealand, South Africa, India and Pakistan. In these countries cricket is not just a national sport but also a cultural icon with a deep significance because of its association with independence movements and other factors such as religion.

Rule Book for Cricket

Cricket is a game played between two teams and the team that scores the most runs wins.

Alan Safahi: There are three main sections of the rule book for cricket: Ground Rules, Outfield Play & Innings & Law Review. These sections have detailed information on how to play cricket without knowing about all of these rules!

The game of cricket has many rules and regulations. Such as how many players are on each team, what equipment is needed to play the game, what can be done with the ball and more. There are specific penalty calls that apply to different actions during the game such as catching a fly ball or obstructing a batsman’s attempt to hit a ball.

Below is a detailed list of rules for Cricket:

Cricket is played between two teams each made up of eleven players. (Sometimes in junior competitions you will find 8 player teams).

Games consist of at least one innings where each team will take turns in batting and fielding/bowling.

The fielding team will have a bowler bowl the ball to the batsman who tries to hit the ball with their bat.

The fielding team tries to get the batsmen out by…

Hitting the wickets with the ball when bowling

Catching a batsman’s shot on the full

Hitting the batsman’s leg in front of the wicket (LBW)

Or hitting the wickets before the batsmen can run to the other end of the pitch

The batmen try to score as many runs as possible before getting out by…

Hitting the ball and running between the wickets and making it to the other end before the fielders can hit the wickets with the ball. Each time you run one full length of the pitch it equals 1 run.

Hitting the ball to the boundary along the ground is 4 runs.

Hitting the ball over the boundary on the full equals 6 runs.

The fielding team must get 10 batsmen out before they can change over and start batting.

The aim of the game is to score as many runs as possible before the fielding team takes 10 wickets. The team with the most runs wins.

Playing with a Team in Competitive Match – How Does it Work?

In a cricket match, a team is made up of 11 players. These players are called “batsmen” and “bowlers”. A captain leads the team and takes important decisions.

Batters try to score runs by batting at the other side. Bowlers try to take wickets by bowling the ball towards the other side. When a batsman faces a ball, he or she tries to hit it as far as they can away from the field to score runs for themselves and their teammates.

Batters and bowlers rotate in and out of play throughout the match. They can play competitively for an hour or so before they need to take a break.

What are the Differences between Playing Indoors vs. Outdoors?

Playing indoors is a completely different experience from playing outdoors. The cricket pitch is a lot smaller and there are a lot less players to contend with. This means that the game is a lot more aggressive and fast paced.

Playing outdoors gives the batsman more time to play the ball which means that they can take their time when deciding what shot they want to play. Playing outdoors also has its benefits too, such as better weather and air quality, and also greater visibility for spectators which can be really important when playing at night.

How Do I Get My Own Gear? Where Can I Practice Locally?

The best place to start is with a beginner’s kit. Beginner’s kits are designed for children, but are increasingly popular among adults too.

Tips on How to Get Better at Cricket – What’s the Secret to Playing Your Best Game?

Cricket is a game that requires players to have a lot of practice. There are many drills that can help you improve your technique, but the main principles are always the same.

A) Always be on balance

B) Keep your eye on the ball

C) Keep your eye on the target

D) Bowlers are not trying to hit you, just get you out.

E) You need patience and calmness in order to play cricket well

F) Do not panic if you miss a catch or make mistakes while batting

Conclusion

Cricket is the second most popular sport in the world, and it’s played on a field with 22 players.

The first step to learning how to play cricket is understanding the game.

The next step is understanding the teams, their positions, and how they play.

The final step is to join a local team, practice and enjoy!

# # #

Alan Safahi is an entrepreneur, investor, advisor, futurist and amateur freedom fighter.

Safahi is a Principal at Safahi Global Advisor, an Orinda, California advisory and consulting firm specializing in banking, financial services, Fintech, money transfer and cryptocurrencies.

Transforming the Scope of Finance, IT, and Remittances

Finance

Iranian-born Alan Safahi is a start-up founder, advisor, and entrepreneur who has emerged as an immigrant technology mogul in the United States. He is the founder of the ZED Network, a company that runs on contemporary innovation and offers solutions to consumer-based entities. He is also the founder of ZipZap alongside maintaining major roles in companies such as Bold Financial Technologies and Loyal.

Mr. Safahi has launched 6 startups. One of his earlier successful businesses was ZipZap. According to Mr. Alan Safahi, he created ZipZap based on a mission to bring about financial inclusion across consumers around the world. ZipZap was created so that people without transaction instruments like credit cards could successfully engage in e-commerce. Here, customers would be able to take a computer-generated voucher with a barcode that resembled a utility bill that they could take to Walmart, CVS, or any other establishment that facilitates the covering of bills and make payments. ZipZap was one of the platforms that made the purchase of Bitcoin possible in its early days as it could not be purchased with credit cards.

Another his venture, ZED Network is described as a payment orchestration platform focused on cross-border payment acceptance and pay-outs in more than 200 countries. The company’s payment partners are typically institutions such as banks, licensed Money Transfer Operators (MTOs), payment processors, and Foreign Exchange Processors with FX rates that are highly competitive, resulting in customer benefits.

Mr. Safahi has almost 3 decades of hands-on experience in areas such as information technology, telecommunications, and financial services (FinTech). He has served as an advisor to several startup CEOs in the blockchain, payments, loyalty, and transportation industries. He grew up in Iran and his father encouraged him to go to the US and study. 

Alan Safahi is committed to making remittances more affordable and smoother. He is also a firm believer in the viability of Bitcoin. Alan believes that remittance is possibly the best use of Bitcoin. To learn more about Mr. Alan Safahi, you may find him on LinkedIn. You may also visit ZED.network for more information on this innovative platform.

Originally Posted: https://themagazineplus.com/2021/02/08/serial-entrepreneur-alan-safahi-transforming-the-scope-of-finance-it-and-remittances/

Concept and Future Outcomes

ZED Network

The finance sector is embracing the concept of legal tech gradually. Legal technology or Legal Tech is the utilization of technology and software in the legal industry. Legal Tech companies are startup businesses founded to dislodge the conservative legal market and shape the legal, financial service sector by handling high or low-value tasks in the legal fields and law firms.

Alan Safahi: They are designed and programmed to help law firms get more clients and extend better services. Using these technologies, law firms and institutions reserve a better chance of serving clients by assisting them with efficient legal service at the drop of a hat. Legal Tech also comprises technological advancements, for instance, AI and Blockchain-related services as they are being widely accepted all over the world. The amalgamation of law and technology benefits law firms, individual lawyers, large-scale business, billing, document storage, etc.

Lawyers and legal advisers can stay updated with new laws and utilize the tools using legal research platforms. The tools are readily accessible, unlike printed books and research papers. The research papers are collected from reliable sources for study purposes, which means if you are a lawyer and you need to access the legislative documents, you can do it with Legal Tech in no time.

Active customer services

Legislative authorities are there to help their clients, and that’s technically the utmost priority as well. Merging the legal sector with technology helps to get the job done quickly and efficiently. Softwares and applications help out clients and keep them engaged, which hikes up customer satisfaction and converts viewers to customers.

What have we learned about Legal Tech so far?

Profession-based technological development like FinTech, Legal Tech, Insur Tech is slowly making their way to the mainstream. With the technological expansion, we are expected to see most fields and sectors working in conjunction with the technology for their target customers. These advancements are made to suit different needs in the profession, which is a unique concept as other people have varied requirements. Currently, innovators are envisioning the aspect of incorporating technologies into more and more sectors.

According to Alan Safahi, as innovators work their way in to solve the problems regarding specific professions, the potential value of the respective profession’s technology will increase along with the impact of these technologies. This includes the utilization of Blockchain and AI technology. These technologies have the potential to touch the lives of legal representatives daily. Understanding these technologies will be favored by both the client and the institutions while advising a client or including an analysis.

The future outcome

With so many technical aspects developing for a particular profession, tech-savvy customers will find it more approachable and effective to communicate with the next gen. Younger generations of legal administrators are more likely to be in-tuned with the techs and contribute to the younger customers’ needs. It is also expected that law firms will insist on general legal tech competence, which can eventually increase the Lawtech component. Another future insight will be monitoring cyber ethics by establishing a new legislative figure. This is to monitor the impacts of the technological growth being used in law practices online.

Conclusion

The adaptation of Legal Tech in law firms and the legal industry is pretty plausible. This innovative approach in the legal sector has many subjects to cover, for instance, Legal AI, Blockchain, Legal Tech in courts, etc. This is to accelerate the legal industry and make it substantial for future tech-based clients. In conclusion, we can say that this is just the beginning of a revolution. It’s looking promising so far as some developments are already in the process regarding the financial and legal services.

Originally Posted: https://zed.network/legal-tech-the-concept-and-the-future-outcomes/

Need To Know About Automation, Banking & Financial Services!

ZED Network

The world of finance is ever-changing, and at the heart of it, technology is driving the changes and changing finance as we know it. Automation has become a major driving factor in how we perceive banking and financial services now. By now, you already know that banking is a subsector of the financial service sector; however, not all banks can strictly be defined as a financial service. 

To fully understand financial services, you will need to know the difference between financial goods and financial services and fully understand the world of finance; you will also need to understand automation in the industry. We here at the Zed Network specialize in providing comprehensive fintech payment solutions with technology at its heart. 

Since we ply our trade in the financial services sector, we know all there is to know about the confusion it can create for people looking for financial services. So we thought we should let you know about the difference between banking and financial services and automation in the financial sector. Our goal is to arm you with the knowledge to understand what to expect when you are taking up any financial good or service. We will start with talking about banking and financial services and then move on to talking about automation and financial technology. So without further ado, let’s begin!

Financial Goods vs. Financial Services

According to the IMF, a financial service can be described as a process by which a consumer or business can acquire financial goods. For example, a payment orchestration layer or system is a financial service that allows a consumer or business to accept and transfer funds from a payer. It includes everything from payments through credit and debit cards, checks, and electronic funds transfers. 

That means you can’t categorize things like mortgages, stocks, bonds, and insurance policies as financial services but as financial goods. The finance sector has a swath of economic entities, from retirement and investment companies, mortgage brokers, and bank. Not all can be considered financial goods providers as many provide financial services with many serving both, and banks are categorized as financial institutions licensed to offer loan products and receive deposits. 

To better understand the difference between financial services and goods, you can look at a financial advisor as an example. A financial advisor is someone who manages assets and offers advice on behalf of a client, but they don’t directly provide investments or any other product. According to  Zed Founder and entrepreneur Alan Safahi, the purpose of a financial advisor is to facilitate the movement of funds between savers and the issuers of securities and other instruments, meaning that it’s a service rather than a financial good. On the other hand, mortgages may seem like a service, but they are considered financial goods. 

The reason it’s regarded as a financial good is that it lasts beyond the initial provision. Like mortgages, things like stocks, bonds, loans, commodity assets, real estate, and insurance policies are all considered financial goods and not financial services. So now that you have a better idea of what financial goods and financial services are let’s talk now talk about banks and banking, in general, to find out whether they are financial goods or financial services.

Are Banks A Financial Service?

Traditional banks are the best of both worlds as you can consider it a financial service and a financial good. It allows you to open a savings account, make wire funds, and/or take out a car loan all from the same bank. As you can see, banks clearly provide financial services and should most definitely be considered as a part of the financial service sector. Even if you look up federal banks, you will see that they fall in the category of the financial services sector. 

Experts from the Department Of Homeland Security have suggested that small community banks and credit unions should be considered a part of the financial services sector. Now, banks don’t make up the entirety of the financial services sector. Institutions like investment agencies and stock market brokers are not banks but are most definitely entities that provide financial services. These financial institutions offer intermediate services and not end goods. You can consider this classification like how economists distinguish between capital goods and consumer goods.

Consider the example of the humble apple. An apple can be both a capital good and a consumer one. When a consumer directly easts an apple, it becomes a consumer good, but if a deli owner uses it to make some sweet apple juice, then it becomes a capital good. So to put it simply, banking is mainly concerned with direct saving and lending, while the financial services sector incorporates investments, insurance, the redistribution of risk, and other financial activities. So when it comes to understanding banking and financial services, the differences are subtle. Banks usually earn their revenue primarily on the difference in the interest rates charged for credit accounts and the rates paid to depositors. 

Whereas financial services mostly earn revenue through fees, commissions, and other methods. So that takes care of the differences between banking and the financial services sector. Hopefully, now you understand the subtle differences between the two. Now that explaining the two things is over let’s talk about the tech. In the following passages, we will talk about automation in banking and financial services that’s changing the industry. So let’s check it out!

Understanding RPA, Intelligent Automation, & Intelligent Data Extraction

hen you hear the word “bot,” your mind usually goes to the factory floor automation you see in a car plant. However, it’s completely different when it comes to banking and financial services, but automation can completely change how you operate and give you an edge over competitors. Automation in banking and financial services serves the same purpose as in other industries. It’s a suite of technology that helps companies complete tasks that employees would do. 

Meaning that the employees are free to focus on much more complex tasks. One of the first automation you should know about is Robotic Process Automation (RPA). RPAs are simple solutions that perform repetitive tasks quickly with minimal input. It’s quick and cost-effective and allows for easy entry into automation for banks and financial service companies. Now at the far end of automation, there is artificial intelligence or autonomous intelligence. 

These are software that can make intelligent decisions while still complying with risk or controls. The middle ground of automation tech is intelligent automation and process orchestration that’s a step above RPAs. Here is the progression of automation you can integrate so that you have a better idea about automation. It starts with Macros & Scripts and ends with Autonomous Intelligence. So let’s check them out:

  1. Macros & Scripts: Simple rules-based automation within one specific piece of software that repeats simple work with highly-structured data.
  2. Robotic Process Automation: It’s a program that is designed to perform labor-intensive, repetitive activities across many types of software by training a bot to replicate a user’s workflow
  3. Process Orchestration: Its software that reengineers existing business processes by using other programs, integrating systems, and restructuring labor to create a more efficient workflow.
  4. Intelligent Automation: It’s a full suite of digital labor tools that combines RPA bots and other cognitive capabilities like AI, Machine Learning, and a host of other solutions.
  5. Autonomous Intelligence: Automated decision-making processes without the need for human intervention while simultaneously complying with control and risk standards.

So now that you know the types of automation in banking and financial services let’s talk about the most popular automation technology for this sector. The tech we are talking about is called intelligent automation. Intelligent automation (IA) is made up of a wide range of technologies to improve the functionality and interaction of automation bots to perform tasks. 

According to Alan, it’s the bread and butter of fintech payment solutions companies as it means orchestrating a collection of automation tools to solve more complex problems. The best part of IA helps institutions automate a wide range of tasks from simple rules-based activities to complex tasks such as data analysis and decision making. Here is what the Intelligence Automation process orchestration can offer businesses:

  • Robotic Process Automation: Programs designed to perform labor-intensive, repetitive activities across many types of software by training a bot to replicate a user’s workflow.
  • Workflow Automation: It’s a manually generated series of automated steps that are created to perform a typically human-performed task.
  • Process Intelligence: It uses data sets to analyze steps in a process or workflow and feeds them into RPA bots to help navigate a task.
  • Intelligent Data Extraction: IDE is an extension of data recognition capabilities of conversational interface technologies, learning from the data given and improving the accuracy of those technologies.
  • Conversational Interfaces: This refers to anything that can “read” data, including natural language processing or generation, language translation, speech to text, or text to speech, and optical character recognition.

Find A Comprehensive Fintech Payment Solution

So there you go, those are some things we thought you should know about automation in the banking and financial services sector. Hopefully, you understand how automation is changing the finance world and that fintech payment solutions redefine how the world looks at finance now. However, we also consider that it may be a bit confusing to understand how it can help you out. We here at Zed work with Fintech companies to provide them with comprehensive fintech payment solutions that enhance the automation process and take care of tasks that free up their time. So if you want to know more about automation in the banking and financial services area, then please contact us

Or you can put your questions in the comments below, and we will get back to you. You can also send in your queries by hitting up on our socials and send in your feedback on how we can improve our services to you, so please send them in. We love to hear from you and hope to look at the insights you will provide us with. And with that being said, that’s about all we have for you today. We will come back with something new about the financial world for you soon. Until then, see ya!

Originally Posted: https://zed.network/automation-banking-and-financial-services/

What B2B payment Trends in 2022?

B2B Payment Trends

Individuals and businesses throughout history have relied on various payment systems to purchase products and services. Today, payments have advanced from the bartering system through a myriad of technological innovations, leading to convenience.

Companies have never had a wide range of options for paying and receiving funds. The payment industry experiences consistent transformation and growth. According to Alan Safahi of Orinda, Contra Costa, a startup founder and experienced entrepreneur in San Francisco, technological and operational innovation have propelled this tremendous growth. 

Today’s article will inform the continued growth of B2B payments in 2022 and highlight how B2B companies can better capitalize on the following trends. Read on!

Customer Loyalty and Relationship Building

The current nature of the payments landscape is competitive for B2B companies. Consumers dictate demand, meaning automating existing processes is not enough in 2022. Increased iteration will result in increased competition. 

According to Alan Safahi of Orinda Contra Costa, Fintech companies create advanced, faster, and accessible means to financing. As a result, the nature of demands from customers is also shifting rapidly. 

Research shows that consumers will expect products or services that address the increasing needs and issues of the digitized world. In response, B2B companies make efforts to empower customers and serve themselves when and how they desire. 

It means B2B companies should focus on business relationships to stay relevant and make efforts to respond to rapid changes in the payment landscape with new strategies, engagement capabilities, loyalty programs, and operated models dictated or informed by the consumers. 

Real-Time Payments (RTP)

B2B companies will experience payment modernization efforts, leading to real-time and faster payments in 2022. According to Safahi, small and large payment providers in the U.S are likely to amplify the need to balance speed, convenience, and security. 

Therefore, B2B companies must restructure their offerings, cultivate partnerships with Fintech companies for security and build their own services to integrate payment models into their business system. 

Advancements in cloud technologies will enable B2B companies to innovate, stay agile, and experiment with payment offerings. B2B companies are more likely to integrate financing into their payment systems. 

However, it is crucial to work with companies that offer cloud-based financial integration technologies. B2B sellers and buyers will experience an increase in eCommerce rates in 2022. For example, e-marketplaces, such as Amazon Business and Alibaba, appeal to manufacturers, wholesalers, and distributors due to new markets and growth potential. 

Data Value Assessment and Prioritizing Integrations 

Evaluating the value of data is an important trend for B2B companies in 2022. Modernization and digitization will give B2B companies a competitive edge, allowing them to streamline their payment operations. 

It will result in faster payments, streamlined scheduling, accurate invoicing, and financing with immediate results and visibility. That way, B2B companies will attain control and manage their business relationships, operations, and payments. Moreover, integration is an essential aspect of B2B payments in the digital age. It is one of the best ways for companies to survive in challenging times. Because consumers need mobility, ease, fast processing, and time-saving, the integration trend will continue to increase with technological advancements and consumer adoption.

Safahi says integrative technologies in B2B payments systems will allow companies to make informed decisions.

Originally Posted: https://alansafahi.com/2021/10/18/what-will-be-b2b-payment-trends-in-2022/

Privacy and Security Tips for FinTech Companies

Security Tips

Many Fintech companies gather and process large volumes of data to provide financial services reliably, inexpensively, and quickly. According to Alan Safahi of Orinda, Contra Costa, a leading entrepreneur and founder of a startup in San Francisco, much of this data contains sensitive information, such as:

● Date of birth

● Bank account details

● Social insurance number

● Credit score details

● Banking credentials

Alan Safahi of Orinda, Contra Costa says the sheer volume of data increases its sensitivity because Fintech companies can generate a complete and detailed picture of a person. That’s why data security and privacy compliance with applicable legislation is critical. Here are a few privacy and security tips for Fintechs. Read on!

Build Privacy Protective Controls

A data breach is equally devastating for young and experienced Fintech companies. It creates harmful effects on investors’ confidence and customers’ trust. Therefore, Safahi recommends Fintech companies take data security and privacy seriously.

Most Fintech companies have the resources to create privacy-protective controls and establish security safeguards into the developing technology. Fintech companies can also introduce or fit these controls into existing systems and processes.

Develop Information Governance Programs

Fintech companies make developments and commercialization at a rapid pace, leading to various complications. For instance, many companies find it challenging to collect and process personal information before developing and implementing privacy and security frameworks.

Consequently, this creates substantial risks from a security and privacy perspective. Therefore, Safahi suggests companies of all sizes develop and operationalize information governance programs. The purpose is to streamline personal data collection and processing.

Limit Retention of Personal Information

According to Alan Safahi, personal information in the U.S refers to data or info that is not subject to jurisdictions and regulations. However, it must align with U.S privacy laws. Remember, this raises a wide range of challenges for Fintech companies, especially with data retention.

According to U.S law, Fintech companies can only retain personal information as long as it is necessary to fulfill a specific purpose. So, it is crucial to destroy, erase, or anonymize personal information no longer required by the organization.

Fintech business models usually rely on actionable insights from large volumes of data. So, it is not commercially practical to destroy data after providing a service to a customer. Safahi says Fintech companies can turn to anonymization instead of destroying the data.

However, Safahi warns Fintech companies that information is no longer “personal” to be truly anonymous. For example, replacing direct identifiers, such as names, addresses, and financial data elements with unique codes may not result in accurate anonymization. Therefore, it is wise to create a balance between anonymization and data retention.

Overcome Jurisdictive Challenges

Most Fintech companies face privacy problems when expanding their services from one jurisdiction to another. It is because each country has its own data privacy and protection rules. For instance, when launching in the U.K., many U.S offerings require modifications to account for the U.K.’s broad definition of personal information.

Therefore, it is crucial to overcome jurisdictive challenges when expanding your products or services. Because data about a person’s offline and online behavior tracked to a unique identifier (a device I.D. or I.P. address) is personal information in the U.S, U.K., and Canada. However, the rules of privacy vary from country to country.

Understanding the laws and implementing them accordingly can help you overcome challenges related to jurisdictions. That way, you can maintain the security of your customers’ private information. Until Next Time!

Alan Safahi is a serial entrepreneur with 30+ years of experience in the information technology, telecommunications and FinTech segments.

Originally Posted: https://vocal.media/trader/privacy-and-security-tips-for-fin-tech-companies

Understanding A Secure Payment System

Payment System

Online payment services are now a cornerstone for a successful business. However, since you are not physically inside the shop to pay in person, and the need for secure payment processing is a critical aspect of payment service networks because of this reason. A secure payment system or SPS is a type of payment processing and information service that offers users online security.

Its a payment processing service that protects the user’s financial and personal data from fraud and unauthorized access. Data security is the essential factor for this type of payment processing, as billions of dollars go through secure payment systems every year.

As more and more people use a credit card, debit card, or online and mobile apps over cash, its importance will only rise.

We here at the Zed Network work with FX firms, Fintech, and MTOs and provide them with a comprehensive payment orchestration platform that not only ensures secure payment processing but a complete payment service network with all the payment gateway integrations required. Due to our specialty, we have in-depth insight into secure payment processing systems, and we thought we should let you know about them to helo you understand how they can help you. So without further delay, let’s begin!

How To Know If A Payment Is Secured?

Payment gateways ensure the user information is secured by using encryption technology. You can find out more about the technology used in the payment gateway integration by right-clicking on the site’s payment page and selecting “properties” and then “details.” You will then see a list of the type of encryption security the site has. SSL is widely considered to be the best, so if you see that, then you are in good hands. More on SSLs in the following passages.

What’s The Most Secured Payment Method?

If you are looking for the best security options, then you will find them for financial institutes dealing with billions of dollars daily. However, for the general public, the market leader in payment gateways, PayPal leads in secure payment processing. It’s a highly dependable platform with safe checkout capabilities from millions of websites where your card information and account details are never stored.

Difference Between Payment Gateway and Payment Processing

Payment processing is the way transactions are carried out. It includes things like card readers and point of sale systems that communicate the financial information between a merchant and the customer’s bank account. Every business owner needs to know how to accept credit card payments for successful card processing if they want to operate. On the other hand, payment gateways are services and tools used to communicate the transaction’s status. For example, it helps track whether or not payment has been approved.

Difference Between TLS & SSL

TLS and SSL are cryptographic protocols that ensure a payment gateway is secured. These are there to ensure that information passing between two systems is fully protected from outside threats and security breaches. According to Zed Founder and entrepreneur Alan Safahi, digital communication is vital for secure payment systems, and TLS and SSL both offer that. So let’s talk about the two methods a little bit more.

What’s SSL?

In the modern world, SSL has become the standard for online security. For secured payment systems, it’s the critical aspect and is considered standard technology for safeguarding online information. SSL stands for Secure Socket Layer, and it works as a layer of encryption that guarantees the security of information passing between two systems.

What’s TLS?

If you want something that offers more than SSL, then TLS is what you need. Known as the Transport Layer Security, and in many instances, you find companies are referring to SSL when they actually mean to refer to TLS technology.

Benefits Of Having A Secured Payment System

For any payment processing service or payment gateway to ensure security having SSL and TLS encryption is a must. They’ve set the gold standard in protecting sensitive user data like personal information and bank details. Simply by having an SSL certificate, your customers will start to trust you as it assures uses that your online site and payment services are safe to interact with.

So if you want to protect your customers and show them that your services are safe to use, then make sure you get your SSL or TLS certificate. Online shoppers are savvy enough to know what an SSL certificate means, and they don’t usually buy from businesses that don’t have it. So you could be losing business and putting your entire operation in jeopardy.

According to Safahi, the PCI is a security council that helps training and certification and ensures your enterprises keep up to date with secure payment services and data security. Independent Agency certificates cannot be falsified, and councils like this are great places to use and understand SSL encryptions. One of the most important factors when it comes to secured payment systems every business must meet the Payment Card Industry Data Security Standard (PCI DSS) compliance. It has security guidelines your business must follow to ensure the protected coverage of your customers’ financial information while being processed, stored, and transmitted.

Work With Payment Processors That Ensure Security

So there you go. These are some of the things that you needed to know about secure payment systems within payment gateway networks. Whenever you choose your online payment orchestration and processing service, check for secure payment processing. Now, if you want the highest grade security for your payment integration, then contact us.

We here at Zed specialize in creating custom payment orchestration layers with a guaranteed secure payment system. If you have any more questions regarding payment processing or secured payment systems, then please contact us. You can drop the questions in the comments below or hit us up on our socials, and we will answer your questions. And with that being said, that’s about all we have for you today. We will come back with something new for you soon. Until then, see ya!

Originally Posted: https://zed.network/understanding-a-secure-payment-system/

Impact Of Real-Time Payments In Real World

Real Time Payments

Real-time payment processing is fast becoming a vital part of the world economy and is known by many names like Faster Payments, Immediate Payments, Instant Payments, or Fast Money. So what are real-time payments? Well, it’s composed of technology that enables instantaneous money transfer between banks and banking systems.

The first real-time payment processing system popped up back in 2001 in South Korea, and within the following decade, real-time payments technology popped up throughout the UK and parts of Asia. We here at the Zed Network specialize in providing real-time cross-border payment processing solutions for multinational operations. So we know all there is to know about real-time payment processing, and we thought we should let you see the impact of these payments in the world. 

According to Zed Founder and entrepreneur Alan Safahi, the best thing about real-time payments is that it doesn’t have any “float,” which is the interval between when money goes from the payer’s account and becomes available in the receiver’s account. One of the reasons real-time payment processing services are so popular is that it allows everyone to make payments 365 days a year and the funds are available immediately. 

While it may seem like payments made with credit or debit cards, digital wallets, or P2P apps are real-time payments, it usually isn’t the case. That’s because, for these payment processors, the payments aren’t processed right away. For example, credit and debit card transactions can take up to 72 hours to clear and settle as they go through a bank settlement process. In contrast, digital wallet transactions aren’t considered real-time payments because these are non-bank money transfers and the transactions occur between personal wallet accounts.

While transactions made through the Automated Clearing House (ACH) system can process same-day and next-day payments. However, these payments are cleared in batches. That means the funds are not available until the settlement process is complete and the payments are clear. So now that you know what real-time payments are, let’s check out their impact on the economy!

The Impact Of Real-Time Payments In The US

The Clearing House is the first organization that brought real-time payment processing when it launched its RTP® (Real-Time Payments) Network. With its launch, it became the first new payments system in the US in 40 years. It was created so that all federally insured depository institutions can use it to clear and settle payments in real-time. In addition, the network was created to serves as a platform that allows banks and other financial institutions that they can utilize to develop and deliver new innovative products and services to their customers.

The Clearing House claims that they are already connecting over 50% of all demand deposit accounts, such as checking accounts in the US, and are expected to reach nearly all US accounts in 2020 through the RTP Network. There are several benefits to using RTP technology. Here are some benefits for you to check out:

  • It allows you to send and receive payments around the clock, seven days a week, 365 days a year.
  • It allows people to initiate payments from their existing accounts. There is no need to set up a separate funding account.
  • It allows you to receive payments within seconds of the sending bank initiating the transaction.
  • It allows you to manage cash flow more easily.

Everyone from consumers, businesses, and government entities can use the RTP network for all types of payment processing needs. With the RTP technology, you can facilitate payments across all payment categories, they are:

  • Business-to-business (B2B), 
  • Business-to-consumer (B2C), 
  • Consumer-to-business (C2B), 
  • Peer-to-peer (P2P), 
  • Government-to-citizen (G2C), 
  • and Account-to-account (A2A) transactions.

As time goes on, more and more businesses, consumers, and municipalities will start embracing digital payments, leading to financial institutions all across the country utilizing the RTP network’s capabilities and creating faster and safer payment processing services.

The FedNow Service

Another real-time payment processing and settlement service are the FedNowSM. The Federal Reserve created it, and the service will incorporate clearing functionality into settling payments. The real-time payment processing service allows banks and financial institutions to exchange the debit and credit information needed to process payments and notify customers whether the payments were successful. Now, the FedNow service isn’t fully up yet, with its still on beta testing. However, it is expected to go live in 2023 or 2024.

Impact Of Real-Time Payment Processing On Businesses

The impact of real-time payment processing can be seen on a business’s cash flow. It’s known to improve budgeting, financial projections, and overall cash management. Real-time payment services are also known to improve operational efficiencies and boost customer engagement and satisfaction. One Ovum and ACI Worldwide survey back in 2018 found that 77% of merchants surveyed across the globe expect real-time payments to replace physical payment cards eventually. Here are some of the things that the survey revealed:

  • Worldwide, 51% of all merchants, billing organizations and retail banks were expected to increase their IT budgets for payments-related projects in 2018.
  • Real-time payment processing is now central to planned customer service improvements for most merchants, retail banks, and billing organizations.
  • More than three-quarters of organizations expected or experienced customer service gains from real-time payments.
  • Worldwide, 68% of merchants, 72% of billing organizations, and 78% of banks predicted that the combination of real-time payments would decline the importance of payment cards over time.

Integrating real-time payments has many benefits like increased speed in transferring money, improved cash flow, and minimizing fraud exposure. However, even with overwhelming data show beneficial real-time payments can be. According to Safahi, US businesses have been slow to embrace the model. Here are some reasons why real-time payment processing has been slow in the US:

  • A limited number of banks and other financial institutions can currently send and receive real-time payments.
  • There is uncertainty within the payments industry about which real-type payment system will prove to be the most successful.
  • The cost of investing in new technology is high to switch from batch processing to supporting real-time payment processing.
  • There is a lack of awareness and information.
  • There are low business transaction limits. 

The Future Of Real-Time Payment Processing

According to Safahi, the real-time payment models will continue to exist side-by-side with existing payment systems for the foreseeable future as fintech companies worldwide continue to innovate new ways to make payments. However, we don’t think real-time payments will replace payment models that currently serve a specific function like scheduled payroll payments made via direct deposit ACH money transfers. 

But businesses may integrate instant payments to pay suppliers when goods or services are delivered. As time goes on, experts believe that services like wire transfers, credit and debit cards, prepaid cards, digital wallets, and person-to-person (P2P) applications like Venmo, real-time payment technology will continue to evolve. 

With two real-time payment processing services in play now in the economy, the service’s popularity is poised to grow significantly in the coming years as both consumers and businesses begin to understand the benefits of having one more payment option. As you know already, the benefits of real-time payment processing services are plenty. 

With benefits like improved cash flow, simplified money management reduced chance of fraud, and the peace of mind that comes with knowing that money transfers happen instantaneously offer something that’s been missing from the financial world till now. So there you go, those are the impact of real-time payment processing in the real world. As you can see, the story of real-time processing is still growing and will continue to grow for the foreseeable future as the world catches up to the technology. 

Now, if you want to be ahead of the curve in your niche, then integrating real-time payment processing layers is the way to go. That’s where Zed comes in. Our specialty is creating highly effective real-time payment processing and orchestration layers that optimize your money flow along with providing the perfect infrastructure for real-time cross-border payments. So if you need real-time payment processing solutions or want to know more about the technology, then get in touch with us! 

Also, if you have any other questions regarding payment orchestration and solutions, then drop them in the comments below or hit us up on our socials, and we will answer them for you. So make sure you send us all your queries and feedback. And with that being said, that’s about all we have for you today. We will come back with something new for you soon. Until then, see ya!

Originally Posted: https://zed.network/impact-of-real-time-payments-in-the-real-world/

5 Characteristics of a Successful Forex Trader

Forex Trader

Alan Safahi of Orinda, Contra Costa, an experienced entrepreneur and founder of a San Francisco-based startup company, believes that successful forex traders have a set of unique traits or characteristics that set them apart from others.

You can increase your chances of making successful trades by borrowing some of the traits given below and using them in conjunction with evidence-based knowledge. To make it easier for you, Alan Safahi Orinda has come with these five characteristics that every successful forex trader follows.

1.     Sticks to the Plan

No successful forex trader lasts longer without a plan for each trade. Successful traders have a specific and informed plan of attack for each position, including entry point, position size, stop-loss exit, and take-profit exit.

Safahi says traders with higher success rates always stay flexible with their take profits. However, they also settle for less when they make judgments and find that this is all they can take out of the forex market at the moment.

On the other hand, they also extend their profit targets when the market developments are in their favor. Safahi’s research and experience show that successful forex traders don’t move their stop-loss orders from the original setting unless they are in their favor.

2.     Stays Flexible

Foreign exchange traders do not emotionally attach themselves to positions. A successful trader recognizes that it is not about staying right or wrong but minimizing losses and making profits. Safahi recommends everyone that this should be every trader’s ultimate goal.

In addition, successful traders adapt to incoming data, information, and news. Likewise, the trader abandons an open position if the situation counters. It means the trader does not wait for price action to take it out of their trade.

3.     Keep Up to Date with the Technical Aspects

Successful currency traders are well-aware of technical levels in forex trading and currency pairs even if they don’t pursue a technical-based strategy. For instance, Alan Safahi Orinda, Contra Costa says that a successful trader knows the Fibonacci retracement levels and focuses on important short-term and long-term trend lines. At the same time, they get up-to-date information on significant highs and lows in the forex market.

4.     Protects Profits

A successful forex trader makes efforts to take profits and minimize losses, whether it is modifying a stop order, partial take profit, or squaring up entirely and stop trading after a profitable movement in the market.

Besides, a successful trader will always analyze the market and ensure a profitable trade with minimized risks. Similarly, they keep what they have made instead of risking it to make more.

5.     Keeps a Track Record

A trading account is in one of three situations at the end of each month or year. First, you have made a profit over that period. Second, you are roughly breakeven. Third, you have lost money. Regardless of your account status, it is crucial to improve your results in the coming period.

That’s why Safahi recommends reviewing your trades’ track record. For example, if you have lost money trading around the non-farm payroll report in eight of the twelve months, you can avoid trading during this specific period in the next year to improve your results.

Choose Best Payment Gateway Service Providers!

ZED Network

For every business in the world, “sales” is the name of the game, and that means money is involved in ensuring a seamless customers’ purchasing experience becomes imperative. One of the most critical aspects of creating a seamless experience is the checkout experience. Now, if you’ve landed here, then it’s safe to assume that you already have a beautiful website along with quality web hosting.

We here at Zed specialize in providing comprehensive payment orchestration solutions for multinational businesses, and that means we know how you can optimize your checkout process. If you want your business to have sustainable growth, then you need to address the checkout optimization aspect. According to Zed Founder and entrepreneur Alan Safahi, the goal is to ensure the checkout process is streamlined and straightforward.

Once you achieve that, you’ll be inviting customers to, well, show you the money. The most vital aspect of ensuring a seamless checkout process is integrating the best payment gateway service provider. It’s a third-party application that provides an easy-to-use tool for processing payments from sales. So what is a payment gateway? How does it work? Those are all the questions we will address in the following passages and list out some of the best payment gateways you can integrate. So without further delay, let’s begin!

Payment Gateway Introduction

Around 96% of Americans shop online, which is expected to grow up to 230.5 million people in 2021 within the US. And that means smarter customers who already know and understand the basic steps of the e-commerce shopping experience. The online buying process for most of us is muscle memory. All you need to do here is browse, pick a product, add to the cart, hit the checkout. However, according to Safahi, for that to happen, you have to make sure you provide an outlet that allows your customers to pay for the product or service securely. And ensure that the payment is fully processed; the payment gateways handle all that. 

It basically acts as in-between services, and processing inputted information provided during checkout and facilitating the authorization or fulfillment of payments made for e-businesses and online retailers. And payment gateways aren’t only limited to online businesses. You will find them at brick-and-mortar establishments as well. However, if you are still not convinced why payment gateways are so important, let’s check out why you need them.

Why Use A Payment Gateway?

Well, you need a payment gateway because they take charge of purchasing’s tricky tasks like encrypting sensitive info from credit card payments. While also helping you meet specific standards for data security, ensuring safe transactions between you and your customer. That’s not all. The third-party integration also saves you a lot of time and work because it removes the need to input info received on your end manually. Add to that the flexibility it offers business by being able to process different types of payments.

Remember, flexibility is helpful as it increases the likelihood of sales by widening accessibility for customers with various payment types. Besides, it would help if you offered a wide range of payment options, as people vary in how they pay for products. One Baymard article states that lack of payment options is one of the leading causes of cart abandonment issues. So now that you know what payment gate service is and why you need one, let’s talk about choosing the best payment gateway service for your business!

How To Choose A Payment Gateway Service?

According to Safahi, the right payment gateway will take your business a long way but finding the best fit for your business might seem overwhelming if you don’t know what you are looking for. As a general rule, it is always best to evaluate the individual features of each before choosing any third-party tool, and your choice should be based on the needs and capabilities of your online store. When it comes to finding the best payment gateway service, there are five main factors to consider, and that’s what you will find in the following passages. So without further delay, let’s check them out!

1st Factor: Security

Well, in the online business world, security is paramount. No one is going to fork over sensitive financial information to an e-commerce store that looks shady. Therefore, you need a reputable payment gateway that provides safe checkout experiences for your customers. 

One of the most powerful tools for online businesses is displaying security signage. According to one article from Cox BLUE, more than 80% of customers feel safer seeing logos of trustworthy payment options on a website. Therefore, we recommend going with a payment gateway that handles your customers’ delicate data with care and if you can ensure that they stick around.

2nd Factor: Costs

You already know that when choosing any service, you need to know all the associated fees and costs, and it is especially true when selecting third-party tools like payment gateways. In addition, you will need to pay transaction fees for your business. So make sure you pay attention to your gateway’s costs and make sure you have the necessary research on hand before integrating it into your site, so you’re not slammed with surprise fees.

3rd Factor: Accepted Payment Methods

Remember, the internet is all about ease of use, so the easier you make it for your customers to make purchases, the more likely it is that you will make them. You need to make sure the payment gateway you choose incorporates a wide variety of payment methods. That way, you will be widening your “sales net.” According to Bounteous, 50% of customers say that they will move away from a brand if they don’t find their preferred payment method. 

You can easily find out the most popular payment methods amongst your customers with the help of your site’s analytics. You can use the data to observe what countries have shoppers visiting your e-commerce website as preferred payment methods may differ by country. One study found that 40% of people feel more comfortable shopping from a business that offers multiple payment methods. So keep that in mind.

4th Factor: Compatibility

Another important factor when choosing the best payment gateway means finding one with the capability to integrate to your current platform from a technical and design standpoint. Make sure that you don’t choose one that takes an over-abundance of messy tricks to incorporate smoothly into your existing structure. There are plenty of different payment gateways out there that offers a wide range of services. Many can even be customized to match your site’s feel; We recommend choosing one gateway tool compatible with your brand. 

5th Factor: Payment Location

So as you know by now, some payment gateways allow customers to complete a transaction within the checkout processes of the website. While others lead users to another site to finish their purchases. There are payment gateways that provide an API that incorporates directly into your site. However, others incorporate directly into your site. 

Whenever you choose a payment gateway service, make sure it promotes the best user experience for your shoppers. Remember, once the customers trust your site, they might not mind the extra diversion, so now that you know the factors that go into determining the best payment gateway. So now, let’s tell you about a few of the best payment gateway solutions out there to make your life easier. 

What Are The Best Payment Gateways? 

Now, finding the best payment gateway solution amongst the hundreds out there can be overwhelming, and that’s why you should use those factors to find one that meets your need. Remember, 46% of cart abandonments happen at the payment stage of checkout. 

So if you aren’t outfitted with a smart payment gateway, you are looking at lost sales and maybe even long-term harm to your brand. So to make sure you take into account those factors we’ve listed. Now, to make things easier for you, the research team here at Zed has compiled a list of some of the best payment gateways available right now. So let’s check them out!

Amazon Payments

The e-commerce giants created Amazon Payment. It helps build a trusted and familiar way to submit payments on your site. Here are some features of Amazon Payment: It has eliminated the learning curve for checkout processes and draws from the technical strength of an established platform. Back in 2016, Amazon reported that there is 310 million active customer account. Now current Amazon login information, Amazon Payments gives shoppers a simple, familiar way to make purchases.

By being available, it offers shoppers a simple, familiar way to make purchases. Since it is an API-driven payment gateway, you can easily customize Amazon Payments into your site’s existing look and feel. You can simply add a free plugin and be on your way. Add to that the transactions are completed on your site. It is one of the best payment gateways for responsiveness, and it has mobile capability upstanding critical for users as 79% of smartphone users have made a purchase online using their mobile device.

Originally Posted: https://zed.network/simple-way-to-choose-the-best-payment-gateway-service-providers/

Impact Of COVID On Forex Companies

With the world moving on to the second year of the COVID-19 pandemic, businesses worldwide are adjusting to the reality of living with COVID. Billions around the world are thinking about the public health outcome and the economic impact it will have on their lives. Places that are the most brutal hit still have “non-essential” brick and mortar businesses shuttered, with only food shops and pharmacies operating as usual. It feels like we are going to feel the impact of COVID for years to come. 

Millions are feeling the pinch for some time now, and companies are still having to furlough large numbers of staff, with most having to do so at their own expense. According to Zed Founder and entrepreneur Alan Safahi, some workers don’t get any income support, and those who do only get around 80% of their regular wages. While those who were fortunate to keep their jobs have to do so with pay cuts ranging anywhere from 10% to 50%. Everyone from athletes and CEOs to public sector workers everyone is feeling the pinch. 

Like every sector in the world, there were COVID implications for FOREX too. We here at the ZED Network work with FOREX companies, FinTech, LegalTech startups and provide them with comprehensive payment orchestration solutions that help them grow. So we’ve seen firsthand the impact COVID has had on FOREX, and we thought we should let you know its implications.

How Was FOREX Impacted By The COVID-19 Pandemic?

The start of 2020 was a hellish rollercoaster ride with plenty of significantly terrible news dominating the news cycle. The first focus went to the Phase One trade agreement between China and the U.S. Then it moved to the escalation of tensions between Iran and the U.S. Then the dread of a global pandemic being in full flow. The world watched the downfall of many well-known businesses, as many lost their jobs with the eyes of the world firmly focused on policymakers. 

From mid-January, it was apparent that COVID is here to stay, and it is one of the significant crisis events humankind had to face in its history. Once China became shut entirely down, world trade and the global economy started to tumble. Everything from global supply chains, logistical issues within China, declining industrial commodity prices, and the shutting down of the tourism industry due to travel bans meant that the world watched as millions started to lose their livelihoods.

During this time, the FOREX sector saw the U.S. dollar appreciated, and a broad range of emerging market currencies depreciated. Countries that had economies based around tangible products saw a remarkable decline in their currency along with global supply chain and tourism-dependent economies. The crisis only grew from there as Equity markets started to fall one by one, and the GDP across the board was revised and shown to have lower numbers forecasted.

The entire global crisis led to a financial crisis, something akin to the last great financial crisis seen back in ‘08, with the whole event being U.S. dollar adverse. Before the U.S. was a positive force in the foreign exchange market with interest rates and bond yields higher than those in other G-10 economies, it started hitting record low numbers after the pandemic. That was the first half of the pandemic pandemonium that we got to witness. When you analyze the events that transpired, you can see how the market behaved during protracted downturns. 

But one thing was clear it unlike the recessions and depressions of yesteryear. As of right now, with the new vaccine being rolled out, the world looks on the mend, but there is still no certainty that it will keep. Experts are worried about new strains breaking out or whether food supply disruptions could occur in developing economies where even armed conflict could arise. One bright spot during the pandemic was the FOREX companies that operate online. These companies played a vital role in keeping national economies afloat.

However, stocks, oil, and gold prices have seen and are seeing massive fluctuations almost daily, even though the range has come down a bit. Making the market highly volatile and risky for short-term gain. This is why FOREX companies worldwide are looking into the relationship between the Coronavirus and FOREX so that they can better position themselves for the future. 

What’s Connecting The Coronavirus & FOREX Trading? 

The world got a crash course in epidemiology with COVID, and the impending sense of doom also made millions around the world take an interest in the economic situation. As more and more people were driven towards finding an alternate income source, they started to notice the dynamic relationship that grew between the pandemic and FOREX. What happened next was entirely unexpected.

A vast number of the population started trading in foreign exchange as FOREX companies were hard-pressed to meet the current demands. That’s where companies like Zed Network came to the rescue. We helped plenty of FOREX companies create a comprehensive payment orchestration platform that eased the burden of increased trades and ensured friction-less cross-border payment options.

Our job was to help the FOREX companies meet the demand for trading while allowing them to cash in on accessible scale-up opportunities. FOREX companies that failed to cope with the increased demand during this time will not only find substantial short-term losses but their brands will suffer irreparable reputation loss as part of the long-term damage.

What’s Next For FOREX Companies?

While the risks and uncertainties in the FOREX market have quieted down, the demand for trading in foreign exchange has only been growing. Experts say the demand will only grow from here, even with the uncertainty and risk factors being present. New traders are looking to cash in on this high volatility in the market to make a quick buck and supplement their lives, as many are still recovering from the impact of last year.

According to Alan Safahi , one noticeable trend that reared its head in 2020 was the need for digital optimization. FOREX companies worldwide are upgrading their infrastructure to meet the rising demand, attract and retain new-coming clients digitally. Every FOREX company looking to build a sustainable business model for the new decade is integrating fully digital solutions like an intuitive CRM system, fully configurable I.B./Affiliate management, comprehensive payment orchestration solutions with cross-border payment ease, and other automation tools.

The goal for the market, it looks like, is to move most of its operation online as the community becomes even smaller due to the Coronavirus scare. Along with payment infrastructure, FOREX companies are also looking for tools to manage and identify risks better to allow a more accessible FOREX platform for in-coming brokers.

The Future Is Bright

While the initial response for FOREX companies was panic and chaos, it has all but died down by now. And with the vaccine being more and more available, the world will calm down even more, and so will the FOREX market. While the changes that happened during 2020 are mostly permanent, what we do expect to see is less volatility as 2021 goes by. Now, if the woes of Robinhood were any indication, then FOREX companies need to be proactive in providing a complete digital infrastructure, and that’s where we come in. 

We here at Zed Network provide one of the most comprehensive payment orchestration solutions in the market, covering more than 150+ currencies and 100+ countries of acceptance. Our job is to make sure your company has a truly global presence. So if you want to talk about optimizing your payment orchestration platform, then contact our developers now. 

And with that being said, that’s all we have for you now. Let us know in the comments below how your company was impacted in 2020. Also, hit us up on our socials to send us your thoughts and suggestions on what we should talk about next. We will come back with something new for you soon.

Until then, see ya!

Originally Posted: https://zed.network/impact-of-covid-on-forex-companies/

Best Way To Send International Wire Transfers

Wire Transfers

Whether you are into FOREX, Cryptocurrency, Fintech, or someone who deals with multiple people and businesses worldwide, you will need international wire transfer services. Knowing the best way to send international wire transfers will help you eliminate operational obstacles and shed costs from your operating budget. You need to make sure you make the right decision when choosing an international wire transfer service. 

Depending on your needs, many factors will vary. We here at Zed Network usually work with Fintech companies and FOREX dealers and provide them with a complete payment orchestration platform to cover international wire transfers. However, if your needs are different, you can choose several online international wire transfer service providers and banks. We here at the Zed Network specialize in the finance industry, especially the payment infrastructure niche. 

So we are perfectly placed to tell you how you can find the best international wire transfer services near you. When choosing an international wire transfer service, you need to make sure they meet many different criteria like the transfer fees and costs. 

​Finding out things like the transfer cancellation policies and your rights when it comes to online money transfers are just a few things you need to know. But before we dive into discussing how you can choose the right service, let’s tell you a little bit more about international wire transfers.

What Really Is International Wire Transfer?

Well, you already know what it is. It’s a way to transfer currency overseas to different entities. The money can be received in two ways, and one is electronic, the other in cash. However, now the industry standard is electronic. Before the advent of Fintech, it was handled through a bank or other specialist financial institutes. Nowadays, you’ll find online money transfer companies are more popular than the traditional institutions. 

According to Zed Founder and entrepreneur Alan Safahi, most wire transfers usually go through SWIFT or Peer-to-peer payments (P2P). It has become a part of the mainstream as technology evolved, the fees decreased while also ensuring a higher caliber of security and improved transfer rates. 

Swift and other peer to peer payment systems have become an integral cog in the global economy right now with around $5 trillion in transfers per day, according to the U.S. Treasury. Now all this means is that sending money overseas through online money transfer companies is a great option for you. If you are wondering about the cost of international wire transfers, you should know that there’s no exact answer. The price of an international wire transfer is usually dependent on three leading proponents. They are:

  • The company you are using to send the money.
  • The country you are sending the money to.
  • And the method of transfer.

If you want to find the best way to Send International Wire Transfers, you need a comprehensive approach to selecting the company. So how do you do that? Well, that’s what we will talk about here. In the following passages, you will find all you need to know about finding the best way to send international wire transfers. We will start with the most critical factors in money transfers and work our way from there. So without any further delay, let’s begin!

The Most Important Money Transfer Factors

Choosing the right company or platform for international wire transfers isn’t as simple as conducting a Google search. But that doesn’t mean you won’t have to do it. You will discover companies that offer international money transfer services, but then choosing from one of those will require quite a bit of knowledge. There are several factors you have to consider when selecting a platform. Here they are:

Exchange Rates

As you already know, the exchange rates of currencies between the countries may vary from country to country. While new laws have been put in place to ensure banks cannot charge inflated exchange rates, you should still double-check the rates to ensure it’s accuracy if transferring money overseas. You can easily ensure you have the best exchange rate by contacting banks and credit unions. Ask around and see the rates they give you and if it’s not constant, then go with a platform that offers you the best value. 

The Amount Of The Transfer

The service you take up should depend on the amount of money being transferred. If you transfer smaller amounts, then there are specialized money transfer companies who can help you with that. However, if you transfer a reasonably large amount, you need to find a company that usually deals with larger business transfers. Remember, the higher your amount, the more you should avoid banks as large amounts tend to have hefty fees tacked when transferring overseas.

Comparing Transfer Fees

In this day and age, everything we choose is based on comparison shopping, which goes international wire transfer services. Make sure you shop around at different banks, institutions, and companies to find the best exchange rate on the currency of the country you are transferring money to. When comparing exchange rates, you should also consider the transfer fees. 

According to Alan Safahi, companies vary in their transfer fees, so if you are sending an urgent fund, then make sure you choose a company that isn’t overcharging you. However, if you are only sending something like 10-50 dollars for a birthday or something, then you may want to consider regular mail. Now that the critical factors are done let’s talk about the types of money transfer companies and reasons you should consider them for personal use. 

Types Of Money Transfer Companies & Reasons To Use Them

It’s 2020; banks are not the only option for international money transfer services. Many companies offer bank-beating rates and are cheaper, faster, and more convenient while being as secure an option as your bank. There are three main types of companies that fall under the following categories:

  • Remittance Companies
  • Peer-to-peer (P2P)
  • Non-Peer-to-Peer (P2p)

Now that you know the categories by name, let’s explore a little more to ensure you know enough to make the right decision for choosing a company for your international wire transfer need.

Remittance Companies

Remittance companies have been operating for some time now as their services were always geared towards the immigrant population. These companies facilitate the transfer of money from the country the immigrant is in, to the immigrant’s home country where their family is. Remittance has been a driving force for the economies in the developing world, and remittance companies have played a significant role.

P2P Companies (Smaller Transfers)

P2P stands for peer to peer, meaning that P2P companies deal with smaller transactions between two or more people. They allow you to send money directly to someone else across borders without much hassle. You can transfer the money directly from your bank account to theirs online or through cell-phones. Since these transactions are small, they don’t raise financial institutions’ attention, meaning a faster transfer rate.

Non-P2P Companies ( Large Transfers)

These companies handle huge transactions. Non-P2P transfers are usually made between companies in different countries or huge transfers between individuals. Because of the transactions’ size, financial institutes’ attention may be raised, with additional steps may be required for the transaction to go through to other countries. Now that you know the three main categories let’s discuss why you should choose money transfer service providers for sending international wire transfers.

The Reasons To Use Money Transfer Service Providers

Online money transfer services are popular amongst the masses because they offer a refreshing alternative to banks and other traditional financial institutes. Here are three main reasons why you should choose them:


Specialized Services: These companies provide you the best value when making international wire transfers. You will find competitive rates and often find the best exchange rates at the lowest prices.


Saves You Time: These service providers have streamlined the process to ensure you can send money across borders within a matter of minutes, unlike your bank, which will take several hours to days to get the wire transfer through.

Saves You Money: These companies save you tons of money because you will be bypassing many fees that can bring up the cost of the international wire transfer while also ensuring you have a better exchange rate than what the banks offer.


As you can see, online money transfer services are the best options out there for you when making an international wire transfer. Now that you know they are the right choice for you than traditional methods, you may be wondering, “what to look for in a money transfer company?” Well, that’s what we will talk about next.

Things To Look For In A Money Transfer Company

There are thousands of money transfer companies out there, and only a few are great for international wire transfers. Choosing the right platform can be a tricky process if you don’t know what to look for. Well, here are six things you should look for in a money transfer company:

Security & Safety: Online money transfer industry is a highly regulated sector with many different governing authorities setting the regulations in place. Amongst them, FCA (Financial Conduct Authority) in the U.K., ASIC (Australian Securities and Investments Commission) in Australia, and FinCEN (Financial Crimes Enforcement Network) in the USA are the most prominent ones. There are a few regulatory authorities as well. So make sure you choose a company that meets all the regulations.

Exchange Rate: This is a vital criterion as we’ve mentioned this a few times before as well. Remember, if you are sending large amounts overseas, then even a minute change in exchange rates can significantly impact your overall cost. So make sure you find the company that offers the best rate.

Transfer Fees: This is directly related to international wire transfers. The fees depend on which service you take up. Now it can be a flat fee, which will be a percentage of the amount you are transferring or a cost dependent on the method of transfer you are looking to use. Now, if you use credit cards for your transfers, then odds are you will be paying enormous fees. We recommend using bank accounts when using a money transfer service provider. Another thing to note, there are services out there that will offer transfer without fees, so make sure you conduct thorough research. 

Transfer Speed: Transfer speed means the time it takes your international wire transfer to go through and have the money deposited in the receiving account. Usually, it takes around a few hours to up to five working days, with a few even offering transfers in minutes for P2P. So make sure you take that into account when choosing your money transfer service provider.

Received Amount: This is probably the second most crucial factor to look at when choosing a money transfer service. The amount of money the receiving bank account will get after the deduction of all the fees is crucial in finding the right company to help you find the best money transfer company.

User Experience: Seamless navigation, intuitive interface, and impeccable service have become the cornerstone of every successful modern business. All these things combined ensure ease of use for the traffic coming in, meaning these ensure a fantastic user experience. So when choosing a money transfer service, make sure the company has a proven track record in providing a great user experience. Choose companies that have a proven track record of delivering outstanding customer service as well. 

These are all the things you should look for when choosing a service provider for your international wire transfer needs. So now that you know what to look for in a money transfer service provider, let’s talk about another essential aspect, the fees.

What You Need To Know About The Fees

When you are sending money overseas, there are few fees that you have to pay, and it’s nothing big, but it can drastically change with different services. It also varies from company to company, so always check out the terms and policies when choosing a money transfer service provider. Here are the fees that you will come across:

Transfer/Sending-Fee: This is the fee that the bank, credit union, or the company you are working with charges for the money transfer service they provide. As we said before, it can be a flat fee or a changing fee depending on the type of service you choose.

Exchange Rates: The exchange rate is the difference between the value of two currencies. Due to free trade conditions, different companies may end up offering different exchange rates. However, the rates are set every day, so you will be able to understand if you are being overpriced or not. 

Receiving Fee: So this is precisely what the name suggests. It is a fee for receiving end where the fee is deducted when deposited in the receiving account. Now you won’t see a receiving fee in every company, but they are common so make sure you know before taking up the service.

Now that you know about the fees, we can move on to the next thing. However, this is an excellent time to let you know about your rights regarding money transfers. There are plenty of regulations in place to deter scams and protect customers. Regulatory bodies have stipulated that companies, banks, and other institutions need to provide purchasers with specific documents. They need to provide these documents when any transaction above 15 dollars. The information these companies need to provide include but are not limited to the following:

  • All tax and fee documents the sender had to pay to complete the transfer.
  • Providing the current and exact exchange rate to the customers.
  • Any additional fees that may be charged by third parties.
  • The total amount that needs to be paid.
  • The total amount the sender is sending and how much the receiver will get.
  • Additionally, they can terminate the transfer within 30 minutes of placing it.
  • And transfer tracking information.

Now that takes care of all the information you needed to know to find the best way to send international wire transfers. If you are still thinking about going with a bank, then here are some reasons why money transfer service providers are better than banks.

Reasons To Not Choose A Bank Over Money Transfer Companies

By now, we hope you already understand why money transfer service providers are the best option for you. However, if you are still not convinced, then here are a few reasons why banks aren’t the best way to send international wire transfers:

  • Banks are much more expensive than other institutes.
  • A congested and confusing process that requires much information.
  • You will need to have an account with them.
  • Banks are slower than money transfer companies.
  • Usually offers limited transferring options, with only the bank to bank transfer being the guaranteed option.
  • Banks don’t offer flexible transfer options, especially with small transfer needs.
  • Banks do not offer great value for money with transfers, substantial transfers.

So you see, banks have more downsides than upsides when it comes to international wire transfers. That’s not all of what we have in store for you here. You already know how to find the best way to send international wire transfers. However, there are ways you can optimize them, and that’s what we will talk about next.

Ways To Optimize Your Search

You already know how to look for the best way to send international wire transfers. But here are some tricks you can utilize to ensure you get the best out there:

  • Shop around a lot and compare companies.
  • If you are sending minimal amounts, then we recommend you don’t use international wire transfer services. 
  • Thoroughly check the exchange rates.
  • Choose companies that provide you with value, meaning choose companies that offer the best deal for your transfer.

All the things listed above, if followed precisely, will make sure you gent the best deals in exchange rates and seamless transfer process. So you can be off to the races to find the best option for you. Make sure you check out our next section, as it will give you a boost in your research.

BONUS: Some Of The Best International Wire Transfer Service Providers

As you already know, there are thousands of companies to choose from, so finding the best might feel like finding a needle in a haystack. So we here at the Zed Network thought we should give you a boost in finding the right solutions.

Here are some of the best options out there for you:

PayPal: PayPal is one of the most popular and one of the best payment gateways and money transferring options out there, and you can never go wrong with it.

WorldRemit: It is one of the best options out there when considering international wire transfers. However, keep an eye on the fees and exchange rates.

Transferwise: Transferwise is a popular choice amongst people who travel the world. The company’s vision is to ensure “borderless banking,” ensuring that managing money in multiple currencies is a breeze.

Remitly: It is one of the most affordable options out there, and it is the perfect option if you are sending from a developed country to a developing one. Add to that the moneyback guarantee for missed deadlines is quite an incentive.

X.E. Money Transfer: It has a trust rating of 5 out of 5 on the Trust Pilot and has already become 
One of the most recognized international wire transfer service providers globally.

OFX: Rated 4 out five on Pilot, it is an emerging brand. It offers its services without any transfer fees, and you can transfer money using your debit card.

SENDFX: Another company that is rated 5 out of 5. The Australian company is a top-rated company, and it has won the ‘Best value international money transfer provider’ by Mozo last year. It offers excellent exchange rates and while also having no fees. Besides these, their customer support is one of the best around.

TORFX: This U.K. company has won quite a few awards already because of its fantastic optimizations that provide the perfect user experience. You will also find highly competitive exchange rates and no fees.

ZED Network: While ZED Network isn’t a traditional money transfer service provider, we had to put it in here because of the value it will provide to companies. ZED Network provides dynamic payment orchestration platforms to ensure you run a smooth operation. 

So if you work in FOREX, cryptocurrency, or are the founder of a Fintech company, then Zed Network is the perfect option. Our approach to creating the ideal payment orchestration solution includes a comprehensive strategy to ensure seamless international wire transfers. Here is what Zed Network can offer you:

Seamless International Wire Transfers

So there you have it, we gave you all the information you need to make the best decision when looking for an international wire transfer service provider. Hopefully, by now, you can find the right service provider to ensure seamless international wire transfers. If you have any questions regarding Zed Network or need comprehensive payment orchestration platforms, please feel free to get in touch with us, and we will help you out. 

If you discover any information that we did not include here, then please let us know in the comments below or hit us up on our socials. We love to hear from you, and connecting with you allows us to ensure we provide the best quality out there customized according to your needs. And with that being said, we are done for now. We will come back with something new about the world of finance very soon. Until then, ya!

Originally Posted: ​https://zed.network/best-way-to-send-international-wire-transfers/

5 Golden Rules of Investing

Most investors emphasize too much on choosing between specific bonds and shares. According to Alan Safahi Orinda, a successful entrepreneur and startup founder in San Francisco, the core principles dictate your wealth-building strategy’s success or failure. Check out these five golden rules crafted by Alan Safahi to create your investment plans for long-term value accumulation. Read on!

1. Focus on the Power of Compound Interest

According to Alan Safahi, it is crucial to make the interest work for you. You earn interest on your capital when you invest money. Likewise, the following year you earn interest on your initial capital and the first year. So, this continues, and you earn interest on your original capital and the first two years’ interest.

Safahi says that even Einstein acknowledged the effectiveness of compound interest. Because Einstein calls the compound interest the “eighth wonder of the world,” you must remember its power.

2. Combat Risk with Diversification

Alan Safahi advises investors to diversify across sectors, assets, styles, managers, and securities. Diversification is a fundamental investment rule, allowing you to create a balanced path and take a middle road through the harsh market performance.

In addition, diversification enables your investment to grow steadily with smaller changes or fluctuations along the way. It is an efficient and quick way to manage risks. Remember, diversification protects you from losses in any investments.

3. Understand the Return Tradeoff

No one can neglect the significance of asset mix. If you fail to get the right asset mix, nothing else matters. Likewise, if you want to meet your goals and objectives, make sure you streamline your asset allocation processes.

According to Safahi, asset allocation explains 70% to 90% of your portfolio’s total returns. Regular investments require you to trade off a high expected return with greater risks. The immediate solution for this problem presented by Alan Safahi is getting your asset mix and the amount of each asset right.

After deciding the appropriate asset mix for yourself, make sure you stick to it. However, you can make modifications when the circumstances change. Safahi advises investors to perform a regular review with their financial investors to address fluctuating circumstances.

4. Avoid Looking At Past Performance

Safahi’s extensive research shows that past performance does not indicate future performance. Bear in mind that looking at the past performance is an ineffective guide to your future performance.

Most investors think that if an investment manager has done well in the past, they are clever and carrying out effective operations. It means they will do well in the future as well. Unfortunately, past performance has limitations and limited use because new circumstances mean the past strategies won’t outperform.

5. Stay in the Market

Safahi says “time is your best ally” and has exceptional properties. For example, time reinforces the power and effectiveness of compound interest. It also reduces the risk of adverse outcomes. Because “share” markets are usually volatile, investors require significant average returns for investing in shares.

It is crucial to focus on the range of historical returns for each asset class because it can guide you on the range of returns that you can expect for a given period. Safahi’s research shows that the equity market has short-term volatility. However, they rise consistently over the long term.

Final Words

You would call an architect if you wanted to design your luxury, modern, and dream house. Likewise, if you want a sophisticated investment portfolio, you need to understand the rules of investments. That way, you can best fit your needs.

Remember, high-quality and practical investment management advice and tips do not come cheap, leading to poor decision-making and risking your investments. Thanks to Alan Safahi, you can leverage the power of these five golden rules to streamline your investments.

Originally Posted: https://vocal.media/trader/the-5-golden-rules-of-investing

Best Position Fintech company for 2021

Fintech is a fast-growing company expected to hit a total valuation of 310 billion dollars by 2022. Back in 2020 February, there were about 8,775 Fintech startups in America alone, with thousands more throughout the world, according to Statista. In 2018, it showed a staggering growth of 120%, making it a very lucrative sector to ply your trade.

Additionally, plenty of other established financial institutions are also looking to get into Fintech already making it a sector for the future. We here at the ZED Network work with Fintech companies all the time, providing them with comprehensive payment orchestration platforms for safe and smooth operations.

Our experience in working with Fintech companies has given us a unique perspective on the sector, and we think we can help guide your Fintech company to success in the future. If you already have a Fintech company, then there are three things that you already established. They are:

  • You have successfully identified a problem and devised a solution to it.
  • You have created a product or service that has global benefits.
  • You have already impressed a bunch of investors with your thoroughly researched business plan.

In a highly contested niche, standing out is hard. To ensure your Fintech company is in the best position for growth in 2021 and beyond, you need a comprehensive marketing strategy. So how do you turn your target into leads and then to paying customers? Well, it’s easy. All you need to do is create a strategy that compels action, instills long-term trust, and differentiates itself.

Remember, you are not a hometown bank, so your approach should not be like one. Unless there are some geographical restrictions, you will more or less be able to operate worldwide, being able to reach every corner of the earth. So you need to think big and then think even more significant than that. Now, how do you do that? Well, that’s what we will talk about now, so let’s begin!

Understanding Customer Profiles

Defining and understanding your customer profile is vital if you want your Fintech company to succeed in 2021. According to Zed Founder and entrepreneur Alan Safahi, you must have an in-depth knowledge of the profile and should be able to identify customer pain points and needs. When you understand whom you are marketing to, the rest will become easy.

One of the reasons you need to do that is because you have to grow out of your perceptions. That will help you create a marketing strategy that generates engagement. As a Fintech company, you will usually have an extensive reach, so making a precisely targeted strategy is the easiest way to ensure sustainable growth.

Building Relations

If you are a Fintech company that offers one of the essential financial services out there, it won’t matter if there’s no one to buy it. Simply acquiring leads just doesn’t cut it. You have to make sure you convert, nurture and retain them. Building rapport and trust of the customer is the only way you can ensure long-term success.

Your job is to create a highly optimized marketing strategy that turns an applicant into a customer and a fully engaged customer. According to marketing studies, fully engaged customers generate 50% more revenue and sales than their disengaged counterparts. In another report, the numbers show that if you can increase customer retention by 5%, you will see around a 25% upgrade in profits.

Remember, traditional businesses have personal physical interactions to build trust and relationships with customers. As a Fintech company, you need to ensure you touch customers at every possible touch point to ensure you achieve the same goal as traditional financial institutes.

Easing The Customer Journey

One of the biggest hurdles that Fintech companies face is ensuring more and more people sign up for their services. In 2021 you should be looking to ease your customer’s journey. Not only should you look to optimize your site navigation but also ensure that people know about your service.

If you want to set your Fintech company up for 2021 and beyond, then you must make sure that you remove any friction when signing up. Talk to UX/UI experts if you are having a hard time optimizing your customer’s journey. It would be best if you also encouraged self-service on your platform whenever you can. Educate your audience about your frictionless experience when signing up with your content marketing effort, and you will start seeing the results.

Automation Is Key

Fintech companies usually emphasize innovation, and odds are you do too, as you should. However, most Fintech companies tend to overlook automation, which is a vital part of sustainable growth. Automation incorporates everything from automating the onboarding process to rolling out the marketing strategy and everything in between.

According to Alan Safahi, you need to ensure your audience is engaged and invested in your vision with highly targeted emails, valuable content, and strategic retargeting. While static reminders and generic language worked before nowadays, people want to form an emotional connection with companies whose services they take up.

So you can use automation to ensure your customers experience the product naturally. It can help you make your audience active and willing participants, which guarantees prolonged engagement.

The Future Is There For The Taking

So there you have it. These are all the things you can do to ensure your Fintech company is in the best position for sustainable growth in 2021 and beyond. Along with ensuring all the stuff at the top, you also need a dynamic payment orchestration platform for your company that allows for seamless transfers. If you are looking for payment orchestration solutions, then we can help you out. Feel free to contact us for any queries regarding payment orchestration, and we will answer every last one of them.

So with that being said, we arrive at the end. Tell us your take on positioning your Fintech company in 2021 and beyond in the comments below. Or hit us up on our socials with any developing trends. We will come back to you with something new soon. Until then, see ya!

Originally Posted: https://zed.network/best-position-your-fintech-company/

The Gig Economy Explained: Introduction To A Modern Concept

Gig Economy

The modern financial landscape and the world economy are ever changing due to the constant fluctuation of all the factors involved. From unfathomable technological advances, changing of political and social structures, to climate change, the factors are endless that contribute to the ever-growing world economy. We’ve seen plenty of new developments and concepts take root due to the unique characteristics and lifestyle changes that have come about in the last five decades or so. However, everything was put into hyper-drive with the advent of the internet and the “information age.” Amongst the many new concepts that this new era brought forth, the gig economy stands out.

While the term gig-economy can be traced back to 1915 when jazz musicians coined the term “gig” to refer to performances. The terminology now means something entirely different. Since 2009, the term has been used to describe a very modern concept of work. We at the Zed Network work in the financial sector and have been closely observing its effect in the domestic and world economy in general for quite some time now. So we thought we should put our research and observations out there in public to aid you in further understanding this very modern concept. 

According to Zed Founder and entrepreneur Alan Safahi, the effects of the gig economy are felt throughout the financial sector. Gig economy workers are considered as the driving force behind the fast-tracking of payment modernization. So what is it? Why is it such a big deal? Well, that’s what we will talk about in the following passages. By the end of this article, our goal is to provide you pertinent information about the gig economy. So let’s dive in and check out this modern concept that took root in the last decade.

What Is The Gig Economy?

The basic idea for a gig economy is where temporary, flexible jobs are widespread and where companies look to hire independent contractors and freelancers instead of full-time employees. The gig economy and its workers directly undermine the traditional economy of full-time workers who often focus on their career development. It’s a versatile economy that is usually more adaptable to the needs of the moment and the demand for flexible lifestyles. From workers, businesses, and consumers, it can benefit everyone involved. However, it’s not all roses. There are downsides to the gig economy too. It usually stems from the erosion of traditional economic relationships between workers, businesses, and clients.

Understanding The Gig Economy

A considerable part of the population works part-time or in temporary positions or as independent contractors. Therefore, it tends to encourage cheaper, more efficient services. The direct result of the gig economy is market-changing companies like Uber and Airbnb. Now, if you don’t use technology-based services, then you won’t be able to enjoy its perks benefits. Large urban areas and big cities are usually the places where you will see highly developed services and are the most entrenched in the gig economy. Now, identifying gig economy workers can be a bit hard as almost every job has the capability of being part of the gig economy. 

However, here are some of the most common examples of gig economy workers driving for Lyft or delivering food to writing code or freelance articles. In addition, you can see the gig economy at work in the educational sector. Adjunct and part-time professors, for example, are contracted employees as opposed to tenure-track or tenured professors. So universities and colleges can easily cut costs and hire and match professors according to their academic needs by hiring more adjunct and part-time professors.

Factors Leading To The Gig Economy

Going by the estimates, we can see that a third of the working population is already in gig capacity in one way or another within the US. That means the United States is already on its way to establishing a gig economy. Experts are already suggesting that the numbers will only rise from here as these positions allow for independent contracting work with many clients, and management won’t need them to come to the office usually. Freelance gig economy workers usually look for part-time workers and to work from home. 

According to Safahi, businesses tend to get a wide range of applicants that they can consider without worrying about how near the office they are. Add to the fact that a craze for automation is afoot, with many computers now strong enough to do many different jobs. And with the COVID-19 Pandemic coming into full flow last year, it has made working from home quite a popular choice. There’s a growing population that wants to work from home—plenty of economic factors that contribute to the ever-growing gig economy. The Pandemic, travel restrictions, and the general health hazard that started back in 2020 have been felt throughout industries worldwide. 

Now, many employers won’t be able to afford to hire full-time employees, with many established businesses even having to furlough or lay off staff. While the Pandemic isn’t a cause of the gig economy, it has brought it to the forefront. Before, freelancers and other gig economy workers were a niche where companies would hire part-time or temporary employees to take care of busier times or specific projects. 

But now, with the world static, there is a high need for the versatility a gig economy can offer. Now, that’s from the employer’s point of view. So now, let’s look at it from the employee’s perspective. People usually have a hard time finding something to do and then sticking with it. We often find ourselves having to move or take multiple positions to afford the lifestyle we want. It can even lead to multiple career changes in our lifetime. The gig economy is just that but on a much larger scale. 

As we’ve said earlier, the Pandemic has put the spotlight on the gig economy with gig workers delivering necessities to home-bound consumers, and the people who lost their jobs have turned to part-time and contract work for income. Like everything else in the world, the gig economy too had to change and adapt during the Pandemic, and it has transformed into something even more prominent. So employers will have to plan for the future about the overall workforce, including the gig economy workers, once the Pandemic dies down.

The Gig Economy And Its Criticisms

It’s not all roses with the gig economy. There are obvious downsides to it. While not all employers will hire contracted employees, but the general gig economy trend can hurt the full-time workforce. They can find it very hard to build a career since temporary employees are usually cheaper to hire and more flexible in their availability. We’ve already seen that workers who like to follow a traditional career path and the stability and security of it are already being crowded out in some industries. 

Not everyone is the same, and for many, the life of a gig economy worker can do more harm than good. Work flexibility can disrupt many aspects of life like the work-life balance, sleep patterns, and activities of daily life. It can even lead to them spiraling downwards mentally and physically. Add to that the fact that flexibility can often mean being available anytime a gig comes up, regardless of whether you need it or not. But that’s not all. 

As a gig economy worker, you will always need to be on the hunt for the next gig. With increased competition and no assurance of unemployment insurance (the CARES Act made an exception for the Pandemic) after the Pandemic, the gig economy can become a toxic environment for many of the population. If you look carefully, you will notice freelancers or other gig economy workers have more in common with entrepreneurs than traditional workers. 

Now, yes, that may come with greater freedom for the individual worker. Still, things like security of a steady job, regular pay, benefits like a retirement account, and the daily routine that has defined work for generations are all on their way to becoming extinct. Another criticism that often pops up is that there is significant chance transactions and relationships, long-term relationships between workers, employers, clients, and vendors can simply deteriorate due to the fluid nature of the gig economy. 

Now that means the benefits of building long-term, meaningful relationships and trust will no longer be there. It can even eliminate the stalwarts of the traditional work economy like customary practice and familiarity with clients and employers. That can even mean investment in relationship-specific assets might be discouraged that would be otherwise profitable because no party has an incentive to invest significantly in a relationship that only lasts until the next gig comes along.

The Gig Economy & The Payments Modernization:

Now, even though there is an individualistic shine to the gig economy, it works as a global tool. It is connecting more and more people worldwide, even though it might be for one project. With so many new interests and ways to make a living, the time for thinking domestically is long gone. Anyone can start a Fintech company or a FOREX brokerage with the right resources and expertise. That means needing a comprehensive payments orchestration solution that can keep up with the modern world but is scalable for the future. 

Well, if that is what you need, then we here at the Zed Network can help you out. We work with FOREX and CFD brokerage firms, Fintech companies, Legal tech companies, and other international institutes and provide them with the best payment orchestration solution in the market. Not only does it let you conduct fast international money transfers, but it is also optimized for gig economy payments. 

So if you need a market-leading payment orchestration solution or have any more questions about the gig economy, please contact us or drop your questions in the comments below. Also, hit us up on our socials and send in your thoughts and suggestions on improving our services to better cater to your needs. And with that being said, that’s about all we have for you today. We will come back with something new for you soon. Until then, see ya!

Originally Posted: https://zed.network/gig-economy-explained-introduction-to-a-modern-concept/

Comparing Payment Orchestration Platforms: ZED VS Currency Cloud

ZED Network

Money transfer services are now one of the most in-demand parts of every business. The increase in demand for international money transfer needs being pivotal for trade and commerce as the online community is a global community. As the need for complete payment solutions become necessary to function in the modern world. There’s significant demand for customized payment orchestration platforms that meet the businesses’ demands and fulfill their needs. Because of this demand, there are plenty of payment orchestration platform providers popping up, providing different types of services. 

However, not all payment orchestration platform service providers will be able to meet your needs. So finding one that fits your needs is a must. Odds are the reason you are reading this is that you are on the hunt for the correct payment orchestration solution yourself. Well, you’ve come to the right place. Zed Network is a payment orchestration platform provider that works with FX traders & businesses, businesses that work in the cryptocurrency niche, and many other companies. 

So we thought we would give you a simple comparison between a popular payment orchestration platform in Currency Cloud vs. Zed Network to show you our complete prowess over the domain. But before we dive into the comparison. Let’s talk about what a payment orchestration platform is and the two companies up for discussion!

What Is Payment Orchestration?

So in simple terms, payment orchestration is how payments are collected through and where they settle. It also entails specifically who processes the payments. Let us break it down a bit more. So payment orchestration platforms are middleware payment facilitators that connect into one or more payment service providers (PSPs), acquirers, and banks. These software solutions are universally optimized for checkout, fraud software, intelligent payment routing, cross border payments. 

In other words, payment orchestration platforms are all about finding the best way to route a payment from checkout through to bank settlement and increasing payment conversions. It is vital for businesses as a seamless money transferring platform usually results in increased revenue, which means more money. Now that you know what the payment orchestration platform does, let’s talk about the two companies that provide this service. 

Currency Cloud

Currency Cloud is a payment orchestration platform provider that delivers multi-currency account infrastructure to businesses that want to execute and expand their offering. It provides quick access to virtual accounts that allows people to collect, convert, pay and manage multiple currencies simultaneously worldwide. Their policies are in line with the US, UK & EU regulations, making it a safe and secure option for businesses that transact globally. 

They offer in-depth support and ensure regulatory compliance for businesses. Currency Cloud was launched back in 2012, with the London office being their headquarters with additional offices in New York, Cardiff, & Amsterdam. Since its launch, the company has processed more than 65 billion dollars in over 180 different countries while working with some of the most prominent names in banking and Fintech. They’ve worked with several other high-end companies like Starling Bank, Penta, and Lunar while partnering up with the likes of Visa, Dwolla, Mambu, and Carta to build simple, clear financial infrastructure solutions.

Zed Network

Zed Network is a relatively new startup stemming from the minds that worked on ZipZap, a P2P remittance company that aimed to eliminate the exorbitant cross-border remittance costs. According to Zed Founder and entrepreneur Alan Safahi. the ZipZap team saw that helping the Money Transfer Operators (MTOs) with building efficient platforms will significantly impact. Within the first year of operation, the team realized the major problem plaguing MTOs and other companies is banking, cash flow, and technology issues.

The problem for many MTOs, FOREX & Cryptocurrency trading platforms, Fintechs, Legaltechs, and corporations is scaling up seamlessly and integrating dozens of corridors for sending and receiving payments. Simply partnering up with a payout partner takes around 6-12 months, and then the technology for integrating comes, which can take up additional months. So ZED Network partnered up with AEFX to create an API solution that allows merchants to connect to the same vast global payment network of large MTOs and trading platforms with much better rates. 

ZED focuses on domestic and cross-border payment acceptance (collections) and payouts (disbursements) with solutions that help clients avoid directly integrating with multiple payment processors, managing various platforms, and ingesting non-standardized reporting files. The purpose of this payment orchestration platform provider is to help FX trading platforms, Fintech & Legal Tech companies, MTOs, and multinational corporations have a seamless payment platform so that all their transactions go through seamlessly regardless of a border. The company mission is simple. It is to liberate foreign exchange transactions, removing the opacity, hidden fees, and complexity that has traditionally plagued them, and significantly improve cross border payments to minimize costs and make them simple, user friendly, and transparent.

ZED Network Vs Currency Cloud:

So now that you know the companies involved, we will now get into the main reason for today’s discussion and see how the two payment orchestration platform providers stack up to one another. You will find a table with metrics and features vital for all companies that work in the following. The values will be listed for both in their respective columns. We have divided the criteria into six different segments. They are:

  • Coverage
  • Payment Options
  • Licenses / Compliance
  • Technology
  • Cost
  • Other Aspects

So now that you know what criteria for the comparison will be, we can start looking into the tables themselves to see how both companies fare. Without delaying any further, check out the following tables:

Coverage

According to Safahi, for a payment orchestration platform provider, international coverage is vital. Things like available currencies, countries for acceptance and payout, liquidity or inventory, and settlement time are crucial metrics to check out when choosing a payment orchestration platform provider. 

Make The Right Choice

So there you go, that’s all there is to the Zed Network vs. Currency Cloud comparison. We covered every criterion you needed to know to decide which one is the best option for you. Remember, your business needs an experienced payment orchestration platform provider with versatile options. So choose wisely. If you want to know more about Zed Network, then feel free to contact us. 

Or if you have any other questions regarding payment orchestration, then leave them in the comments below or hit us up on our socials. We love hearing from you, so do hit us up. So with that being said, that’s about all we have for you today. We will come back with another payment orchestration platform provider comparison soon. If you want us to cover something else, please drop your suggestions in the comment section. Until next time, see ya!

Originally Posted: https://zed.network/comparing-between-zed-and-currency-cloud-payment-orchestration-platforms/

How Outsourcing Is Helping FinTech Startups

FinTech

Financial Technology or FinTech outsourcing is a business strategy used by financing technology companies to hire a third-party service provider to handle the various technological operations. Outsourcing reduces the workload for a company’s in-house team and therefore is considered effective for startups and small businesses.

The Fintech market will rise to $309.98 billion by 2022, according to the Business Research Company. The startups are growing faster as the FinTech industry is advancing day by day. According to Inflexion, mobile transactions are expected to rise to 88% of all banking transactions. As with traditional banks and other financial institutions, they can’t offer that much efficiency by default. Therefore, they have also started grasping the concept of FinTech. According to Zed Founder and entrepreneur Alan Safahi, the US is the most prominent FinTech market, consisting of the largest number of startups. After the USA, comes Asian countries like China and India who made themselves familiar with the idea of FinTech.

Benefits of Fintech Outsourcing:

Easy and efficient workflow:

Most of the responsibilities are taken up by the contractors for an efficient fintech operation. They are responsible for developing, disposing, and extending technical support of your software and apps.

Cost-efficiency:

You don’t need to spend plenty of money to develop techs and apps from scratch. You can do so by outsourcing, which can be done at a significantly low cost. 

No staff management expenses:

Outsource companies select and train the staff for handling the tasks for your company. Outsourcing doesn’t only let your work done efficiently but also cuts the expenses of hiring and managing your team.

Fully professional relationship:

A contract forges outsourcing partnership between the client and the company. As a client, you require to sign an agreement stating all the terms and conditions from both sides. This is to encourage a safe and secured partnership between the two.

You will only pay after seeing the results:

While an in-house employee may waste a lot of time acting busy, outsourced professionals don’t. They are always focused on their goal completion. You don’t need to the contractors beforehand. You are only expected to pay them upon the final results of the task.

How outsourcing is helping fintech startups:

Bigger companies tend to have in-house technology; however, in-house setups might sound a little intimidating for startups. In today’s world, spending a huge sum of money establishing and updating financial technology on regular terms seems impractical for startup businesses. That’s why outsourcing the tech needs is the fastest and cheapest method for startups. FinTech companies can use these outsourced technologies as building blocks to create their products and services. Outsourcing saves time and energy by taking off the loads that your company would have taken otherwise and developing your business.

By cutting down the cost:

Outsourcing technology is cheaper than developing it in-house. As I have mentioned earlier, it’s expensive and time-consuming. You need to cover the payroll, supplier payments, computer costs, administrative and management fees, vendor payments, etc. You also need additional office space, which can be a little challenging if you have just started your business. By turning to outsource, you can easily cut down the expenditure and limit your budget. A report has shown that 59% of companies outsource technology for cutting the cost and skip the hassle of building technology from scratch. Using outsourcing technology, you can operate a lot of functions that are already built into the system.

By ensuring flexibility and scalability to the business:

Flexibility is necessary for any business, and startups need it more. When you outsource the technology for your company, they make sure you get what you need to run a successful business. According to Safahi, you don’t need to hire additional employees or designers to create plans or try out the new framework. The outsourcing company already has resources to assist you with everything. Speaking about scalability, FinTech startups can scale up and down to meet their goals, unlike full-time staff. A survey has been conducted that FinTech startups use 20% of outsourced tech companies for delivering innovative capabilities.

By speeding up the market time:

As we know, outsourcing companies tend to contain more specialized employees and experts, which allows them to enable the service across the network. Enabling a more efficient service means speeding up the time to market. This speeding up doesn’t happen in the in-house development. A specialized outsource company consists of high quality, pre-made software like APIs, frameworks, industry-related libraries, etc. The greater your technology is, the higher your market value. The team’s wide range of expertise helps provide a better and more advanced technology than in-house ones.

Conclusion

Outsourcing tech solution is a smarter way of saving your money and working efficiently. That’s why most startups prefer this method to the traditional one. Outsourced technology companies help startups adapt and evolve and let them stay a step ahead of the competition.

Originally Posted: https://zed.network/how-outsourcing-is-helping-fintech-startups/ 

A Quick Guide to Forex Trading

The foreign exchange, currency trading, forex, or FX market is the fastest-growing market in the world. According to Alan Safahi, an experienced Forex trader, a professional entrepreneur, and the founder of a startup company in San Francisco, the daily turnover of the forex market is more than $2.5 trillion.

Safahi’s research shows that participation in the forex market is central banks, commercial banks, corporations, hedge funds, institutional investors, and private individuals like you. “Goods” in the forex market are currencies of different countries. You can buy U.S dollars with Euro, or you may sell Australian dollars for Japanese Yen.

Forex? What Is It, Anyway?

The primary advantage of forex trading is “leverage,” the ratio of investments to actual values. For example, using a $1,000 to purchase an FX contract with a $100,000 value means leveraging at 1:100 ratio. Alan Safahi Orinda says that the $1,000 is the amount of money you invest and risk. However, the profits you make are many times greater.

How Does One Profit In The Forex Market?

The general rule of thumb, according to Alan Safahi, is “buy low and sell high” to profit in the forex market. The potential of profit comes from changes or fluctuations in the foreign exchange market.

The stock market requires traders to purchase shares, but forex trading does not work this way. It does not require the physical purchase of a currency or currency pairs. It involves contracts for amount and rate of exchange for currency pairs.

How Risky Is Forex Trading? According to Alan Safahi’s research, traders can lose more than their initial investments, also known as the “Margin.” Although you can make unlimited profits, you will never lose more than the margin in the forex market. However, Safahi advises not to risk more than you can afford to lose.

How Do You Start Trading?

You can start forex trading by using different trading platforms. It is crucial to register and deposit the amount you want into your account. Remember, this is your investment. Ensure you register with a reputable platform that accepts payments through PayPal, Western Union, and all major credit cards.

You will start trading after the trading platform receives your deposit. Some FX trading platform offers operations online, anywhere, and anytime. It means you will have complete control and management options to monitor your trading activities. Likewise, you can check different scenarios, change terms in your deals, close deals, and withdraw profits.

What Are Components Of A Forex Deal?

Alan Safahi’s research highlights that a forex deal is a contract between the market-maker and the trader. The contract is composed of the following key components:

●       The currency pairs
●       The principal amount
●       The Rate
●       Time Frame
●       Spreads
●       Margins
●       Margin Level
●       Leverage
●       Risks

Final Words

Forex trading is a massive topic, and we can discuss it for days and months. However, this is a quick guide that gives some basic information to beginners. Remember, forex trading is an enormous liquid market, allowing people to trade a wide range of currencies. Because it is a volatile market, you can avail numerous profit opportunities.

It is crucial to study the forex market in detail before you start trading. You can read other blog posts on our website to learn about forex trading and benefit from Alan Safahi’s in-depth knowledge that he shares with his readers.

Originally Posted: https://alansafahi.weebly.com/blog/a-quick-guide-to-forex-trading

7 Tips Keep Track of Investments

Monitoring your investment is essential whether you work with an adviser or broker or perform all the trading activities yourself. When you keep an eye on your investment, it allows you to prevent smaller problems from turning into bigger issues.

Here are the seven steps to keep track of your investments. Read on!

1. Keep all Documents

Read and keep all documents and reports you receive from your mutual fund, investment advisor, or broker. Check these documents to ensure your account statements are accurate. According to Alan Safahi, an experienced entrepreneur and San Francisco-based startup company founder, it is crucial to communicate with your adviser or investment professional. The purpose is to identify and fix problems if any.

2. Get all Confirmations

Alan Safahi Orinda recommends getting all confirmation and account statements. Make sure you receive these documents directly. If you fail to look after your investments, you will experience a wide range of complications. Therefore, get copies of your confirmations and account states and send them to someone you trust if you can’t look after them yourself.

You can send these documents to a family member, accountant, or lawyer. The purpose is to have a pair of independent eyes that look after you. Follow up if you don’t receive confirmations or account statements. Remember, you have all the rights to this information. Not receiving these documents indicates a sign of trouble. So, be careful!

3. Ask Questions

It is essential to ask questions about the documents or information you receive about your investments. Ask questions if you don’t understand something. For example, sometimes, you will see unauthorized investments on your confirmations and account statements. In that case, you should communicate with your advisor or broker to analyze and fix the problems. Do not wait to see how your investments perform.

4. Get Access to your Online Account

If you don’t perform trading activities online, Safahi recommends registering or getting access to your online account. It enables you to review your account 24/7 and keep track of your investments.

You can verify the information sent by your advisor or broker and analyze your confirmations and account statements. You can also request them to send you confirmations or account statements via email.

5. Avoid Making Checks

According to Safahi, it is crucial to avoid making checks and other payments payable to your adviser, broker, or anyone else for your investment. In most cases, you should send money to your brokerage firm or another financial institution, such as a clearing firm.

Meeting with your investment professional and visiting the firm is significant because investments are important financial undertakings. It means you should have some degree of investigation and caution to streamline the process.

6. Conduct Independent Research

Conducting independent research on investments is an excellent way to keep track of your investments. You can read prospectuses, research reports, annual reports (Form 10-K), and quarterly reports (Form 10-Q) that companies make with the U.S Security and Exchange Commission (SEC). In addition, Safahi recommends accessing forms 10-K and 10-Q on the SEC official website.

7. Review Your Portfolio

Review your portfolio periodically and ensure your account’s securities meet your investment goals. According to Alan Safahi Orinda, it is crucial to understand and stay comfortable with your investments’ costs, risks, and liquidity.

Check the information on the file at your brokerage firm about your accounts as part of this review. Safahi recommends checking your new account agreements, margin agreements, discretionary account agreements, option account agreements, and other correspondences.

It is your right to know the information about you on the file. Ensure the brokerage firm’s records accurately reflect essential details about your age, income, financial status, net worth, long-term goals, and investment objectives.

Final Words

Tracking your investments is an excellent way to streamline your trading or business operations. If you see a mistake in your account or feel something is wrong, it is crucial to act quickly. Question any entry or transaction that you did not authorize. Good Luck!

Originally Posted: https://safahi.com/7-tips-to-keep-track-of-your-investments-17903f0504d2

Easy Fundraising Ideas for Businesses

Raising money for your business is a time-consuming and daunting task. According to Alan Safahi, it is the most challenging task for entrepreneurs. In today’s article, we will give you some valuable and easy fundraising ideas for your business by Alan Safahi Orinda, an experienced entrepreneur and founder of a successful startup company in San Francisco. Read on!

Crowdfunding

Safahi says crowdfunding is an easy and quick way to raise funds with no up-front costs. Pitching your business through different online platforms is a practical marketing solution, allowing media to pay your business attention.

So, ask potential customers and people to fund your company. In return, offer discounts and exclusive support to your prospective customers. There are many platforms that you can use to get funds.

These include “Go Get Funding,” “Kickstarter,” and “Indiegogo.” Alan Safahi says these are excellent resources to start your crowdfunding campaign. Safahi’s research shows that Kickstarter is a perfect platform with over 22,000 projects and raised a total of $529 in recent years. Similarly, Indiegogo has achieved a goal of a 1,000% increase in funds raised for the last two years.

Ask for Local Help

If you want to launch and run a startup company, you can ask for some local help. Safahi recommends checking with your state, county, or municipal economic development organizations for funding your company.

According to Alan Safahi, Small Business Administration (SBA) offers startup development centers across the United States to connect business owners or entrepreneurs with investors. The SBA has made substantial efforts to help companies succeed and increase their economies.

So, you can contact these agencies to get loans, grants, and other financial resources, depending on your company’s location and the business type you want to start. So, it is an excellent way to raise funds for your startup.

Karaoke Night

In addition to asking for some local help and running your crowdfunding campaign, there are several other ways to raise funds. For example, you can create a karaoke night event. Most people won’t resist a fantastic karaoke night because they love getting behind the microphone and singing their favorite songs.

So, you can organize a karaoke competition for a fee within your company to raise funds. Not only is karaoke night easy to arrange and organize, but it also enables you to offer other things to the participants, such as food and drink, to generate extra funds.

Bowling Tournament

Alan Safahi says that fundraising events work when they are engaging and entertain people. Bowling is a fun and entertaining activity for most people and a sure-fire way to raise funds for your company.

It is crucial to ask people to donate money to your startup or company before signing up for the bowling tournament. You must also offer a prize for the tournament’s winner and runner-up to have an enthralling competition and engage the participants.

Corporate Dinner

Alan Safahi Orinda recommends organizing a corporate dinner to let members of the corporate world enjoy indoor or outdoor dining. Hosting a corporate dinner is an excellent way to generate funds for your business.

Make sure you ask the participants or attendees to pay the ticket price to enjoy the dinner. You can also initiate auctions and raffles at your corporate dinner to generate additional funds for your company. Some other fundraising ideas for for-profit businesses are:

● Sports day event

● Company concert

● Casino night

● Bake sale

● Arm wrestling competition

● Darts competition

Final Words

Alan Safahi advises entrepreneurs and business owners to focus on fundraising because, without it, not a single company can develop a business strategy and streamline its operations. Not only does an effective fundraising strategy reduce financial risks, but it also helps you generate additional funds for your company.

Originally Posted: https://vocal.media/journal/easy-fundraising-ideas-for-businesses

Essential Steps Making First Trade in Forex

According to Alan Safahi, a professional entrepreneur and founder of a startup company in San Francisco, forex is a global market that allows people to trade 24/7 with lower transaction rates. It is a high-liquidity market and suitable for beginners, allowing them to purchase or sell currency pairs, depending on the market conditions.

However, if you don’t have enough knowledge of forex trading, making your first trade would become challenging. Safahi has conducted extensive research, and based on his experience and knowledge, he has come up with easy steps that can help you make your first forex trade. Read on!

1.     Select a Currency Pair

According to Alan Safahi Orinda, forex trading has a unique nature, allowing you to exchange one currency value for another. In simple words, you will purchase one currency and sell another simultaneously. Safahi says a forex trader always trades a pair of currencies.

In addition, beginners should start by trading commonly offered pairs of currencies. However, you can trade different currency pairs if you have enough money in your account. Safahi recommends trading in Euro and U.S dollars.

2.     Analyze the Market

Alan Safahi advises beginners to make research and analysis the foundation for their forex trading endeavors. If you fail to perform your research and analysis, you will operate on emotions, leading to a wide range of complications.

Safahi says you will find a wide range of forex resources when you start researching. Although it will seem overwhelming initially, when you study a particular currency pair, you will find valuable resources that you can use to streamline your analysis.

Make sure you look at the historical and current charts, monitor news for financial and economic announcements, consult indicators, and carry out other analysis activities. The purpose is to gain details about the currency pair that you want to trade.

3.     Focus on the Quote

In general, you will see two prices for all currency pairs. For instance, the first rate is the currency pair’s selling price, and the second rate is the price at which traders buy the currency pair. It is crucial to understand the concept of the “spread,” which is the difference between the first rate and second rate.

Spread is the amount that a forex dealer will charge for conducting the trade. Bear in mind that “spreads” vary from dealer to dealer. So, make sure you find a dealer who offers a competitive spread on different pairs of currencies.

4.     Pick Your Position

According to Alan Safahi Orinda, if you have traded financial products, such as bonds and stocks, you will know that you can speculate on one market direction – i.e., “UP.” However, forex trading is slightly different from other types of trading. Because you buy one currency and sell another simultaneously, you should speculate on the “UP” and “Down” movement in the forex market.

When you pick a “Buying” position, you think that the base currency’s value will rise compared to the quote currency. For example, if you opt to buy Euro and Dollar, you believe that the Euro’s price will go strong against the dollar.

On the other hand, when you pick a “Selling” position, you believe the base currency’s value will fall compared to the quote currency. For instance, if you want to sell the Euro/Dollar, you think or analyze that the Euro’s price will weaken against the U.S dollar.

Final Words

Forex trading is an excellent opportunity for beginners if they make efforts and improve their currency trading skills. The steps give above will help you make your first forex trade. Until Next Time!