What is the future of fintech? Instant international settlements, open Forex rates, a wide range of payment instrument acceptance at an individual level, mega switches, and digital (but regulated) currencies are some of the trends experts predict will be big in the future.

Time will tell which innovations will go big. While we wait, here are some of the new products and services currently on the market based on digital technology, or fintech if you will.

Fintech (Financial Technology) is a term describing all innovative technologies with the potential of improving or replacing existing products and services within the bank and finance sectors. So far, fintech has been used for automated insurance, stock trade, banking services, risk management, and much more. The fintech industry uses modern technology and innovation to compete with traditional financial services and institutions.

Contactless Cards

Contactless cards are payments made by holding the card against the terminal instead of pulling the card strip or inserting the chip. The technology is also available on cell phones, called Near Field Communication (NFC), making two units capable of communicating wirelessly with each other.

Payments Using Phone Number

Financial technology makes it possible to make a payment without knowing the recipient’s account number, only one has his or her mobile number.

Credit Area

Different platforms for CrowdFunding or Peer to Peer-lending are some of the developments we see in the credit area. We also see the use of other principles and methods for credit assessment and credit scoring, based on large amounts of data and real-time information.

Third World Solutions

In the third world, we have registered solutions where people can get insurance by scanning a barcode on, for example, a bag of seed grain, thus getting insurance for the crop of the year.

Other notable solutions are combining damage notification on a mobile phone and satellite pictures, providing the basis for damage settlement in case of natural damage (within microinsurance).

Car Insurance

In yet other countries, mechanisms can be installed in your own car which increases the discount on car insurance when signals from the car indicate that the driving is safe and good.

“Old” Technology

Some fintech innovation is so well implemented in daily life, it’s almost considered old technology. Examples are robot technology for customer service and transaction management, online banking, and online stock trading.

 

Every year, new medical technologies emerge to increase our capabilities and provide more care to those who need it. With these developments, we can conduct more tests, get more accurate data, and test patients in new ways.

You don’t have to look far to see the results of these new developments, or to imagine the number of people who can live a better life because of them. For example, scientists have recently developed “artificial nerves,” which can replicate sensory functions in lost or damaged body parts; a patient equipped with these artificial nerves could get touch-based sensory feedback with a prosthetic designed to replace a missing limb. Immunotherapy and other cancer treatments are constantly emerging, giving new, safer, and more effective options to patients struggling with the disease. And researchers are constantly working to stay ahead of new diseases, developing vaccines to prevent the acquisition of those diseases.

However, there are high costs to these amazing technological advancements, and we need to be aware of those costs.

Expenses

First, there are literal costs to developing better technology, and at many stages of development. It costs money to lease lab equipment, pay researchers, and execute the multiple trials necessary to discover a new breakthrough; and in many cases, there are multiple failed breakthroughs before discovering something worthwhile, multiplying the costs even further. From there, the breakthrough must be considered, researched, and developed further, and after that, it must undergo strict testing—which can often be prohibitively expensive, and take years of time to develop.

Production can also be expensive, driving up the cost of the final products. The more advanced the product is, the more expensive it’s going to be, understandably. Consider the average cost of an MRI machine; while used, basic units can be acquired for as little as $150,000, most MRI systems cost in excess of $1.2 million new. The most advanced units on the market cost closer to $3 million, and that doesn’t even factor in the costs of regular maintenance.

Advanced products and technologies in other areas have similarly high costs associated with them. In many cases, the patients who utilize advanced prosthetics or similar products have their costs subsidized by the research teams developing them or other organizations.

These high expenses have a number of downstream effects, most notably on patients:

• Higher direct costs. While the treatment may be more advanced and better capable of providing value, it’s also more expensive for the end consumer. An MRI scan, for example, can cost a patient between $400 and $3,500. Without insurance, those costs can be prohibitive, making patients reluctant to get the treatment they need—and ultimately resulting in poorer health outcomes.
• Upselling and an excess of caution. Doctors often want to provide the best possible treatment to their patients, which is a noble pursuit. But these good intentions have an unfortunate side effect; they often lead medical professionals to recommend high-end treatments to patients who may not need them. Ultimately, this inflates the cost of medical treatment with only a marginal increase in treatment quality.
• Higher indirect costs. There’s a complex ecosystem in the healthcare industry that suffers from high equipment-related expenses. Hospitals are inclined to charge more for services for privately insured individuals, driving the average cost of care higher. In turn, insurance companies are forced to pay more for services, and the average insured’s premiums will increase, making health insurance less affordable.

False Positives and Overdiagnosis

Many new healthcare technologies are designed to detect diseases and injuries, or test for the presence of certain health markers. These are perceived as especially important in fields like cancer diagnosis, where early detection can save lives.

Unfortunately, this has also led to the problem of overdiagnosis. Sophisticated testing mechanisms and monitoring devices are able to identify the start of cancer development, or some other disease, so patients begin to undergo treatment. However, if left alone, this disease may never result in symptoms or death during the patient’s expected lifetime; this is best illustrated by the fact that the number of cancer diagnoses has skyrocketed in the past 25 years, but the number of fatalities has only slightly declined. This is a net positive, since it results in saving lives, but it also results in excessive stress, financial strain, and harsh physical treatments for people who may not truly need them.

Conclusion

Medical technology continues to astound even the most optimistic technophiles, and we’re on a path to make some extraordinary breakthroughs in our lifetimes. But these new technologies and methodologies are far from free. We need to remind ourselves of the costs and consequences of more advanced medical technology, and work to ensure our tech spending and resource allocation is done as responsibly as possible.

Live betting is a new innovation in online sports betting, and it has caught on like wildfire. So much so that now every online sportsbook must carry it to remain competitive. It is everywhere.

There are numerous sites that carry Live betting now. Live betting has changed the landscape of online sports betting as it requires a whole new approach compared to traditional sports betting.

But what are these new strategies and approaches? Here, we dive into everything you need to find success with Live Betting.

What is Live Betting?

Live betting can be called many things. “In-Game Betting” and “Live-Play Betting” are also very popular names but, rest assured, they all mean the same thing. Live betting allows players the option to wager on games that are already in progress, and this has been a win-win for sportsbooks as well as sports bettors.

It is quite a revolutionary feature as it means sports bettors will no longer run out of time to place a wager, but, also, new strategies are being developed to effectively use the Live Betting option.

If you want to have any success Live Betting, you are going to need a new strategy, specific sports data, and some solid technology.

New Strategies

To be a successful sports bettor, you are going to need a successful sports betting strategy. This is true if you are a traditional sports gambler or venturing into the world of Live Betting.

It is important to realize live betting is a completely different animal than traditional sports betting. Live betting is just that, live. It is very frantic and dynamic as the lines and odds are changing at every moment as the clock and game continue on.

This adds a new wrinkle to sports gambling strategies.

Get the Line You Wanted

Since the beginning of sports betting, players have been waiting on a game line to change. If they could just get that next point on the Under or the hook on that spread, they would place the bet.

One of the new strategies of live betting is to do just that after the game has started. As mentioned, once the game has started, the odds and lines available for live betting change constantly, and getting the line you wanted is much easier.

Home Favorite Rallies

In every sport, at some point in a season, a home favorite will find themselves down early and sometimes even down big. In games like these, the lines and odds have swung wildly from where they started.

Of course, home teams often make a rally, especially home teams that were favored in the first place. These have become very popular wagers especially on days where there are plenty of games to choose from.

Watching a home team go from a seven-point favorite to a seven-point underdog and pouncing on those odds can be very profitable.

Second-Half Stats

Now that you know what Live Betting is and two new strategies to use, let’s look at the sports data you are going to need if you are going to be successful with any Live Betting wager.

For instance, the second-half stats. The bulk of the game you’re Live Betting on is going to be the second half, so you’ll need a team that performs well in the second half.

Some teams finish strong, and some do not. This is true in every sport. Study up on second-half point averages and second-half defensive points allowed.

These two data points will help you figure out the teams that play well down the stretch.

Records ATS

A team’s record against the spread (ATS) can be a bit of a misleading statistic when it comes to traditional sports betting. However, it is very helpful in Live Betting.

As any game progresses, the Live Betting feature of your online sportsbook will track the score changing the odds and lines as it goes. This includes the point spread.

Knowing the team’s record ATS and the starting point spread will give you a lot of insight into the Live Betting point spread. Let’s say a team has a good record ATS when getting points, but they begin the game as an underdog.

As the game continues, the point spread moves to, and they are ahead and giving the points. Is this a good time to wager on them?

Most would say no, as this team is not in the business of winning games as much as they are covering wins with the points. Having good knowledge of every team record ATS is a big advantage when Live Betting.

Up-to-Date Sportsbook

To successfully use Live Betting, you are going to need the proper online sportsbook. Live betting requires sportsbooks to update games in real-time.

Of course, you can expect some lag, but it is important for them to be as up to the second as possible. Not all online sportsbooks have the tech to pull this off in a meaningful way.

While every sportsbook has Live Betting these days, not all of them should as they just don’t have the proper software. Online sportsbooks either have it or don’t, and you’ll know immediately if you are in the wrong place.

A Fast Interface

Not only should your online sportsbook be able to handle all the information coming in on Live Betting. They will also need a fast interface to make sure you are getting your wager in when you want to.

A lot can happen in a split second of Live Betting, even between clicking on a wager. The next thing you know, the score has changed, and so has the line and the odds.

Most sites require you to click on the wager. Then enter an amount for the wager. Then verify the wager and the amount. A lot can change between those three clicks, and now the bet is either changed to something you don’t want or off completely.

A slow interface is not only very frustrating for Live Betting, but it can also cost you money. Be sure to research the Live Betting feature of any online sportsbook you are considering.

The economic impact payments being issued by the Treasury Department are estimated to be sent by the end of April 2020. The following article by Optima Tax Relief reviews the information taxpayers need to receive their payment.

The recent announcement by the Internal Revenue Service and the Treasury Department regarding the issuance of COVID-19 relief checks indicated that payments would start to be sent by the end of April. The majority of eligible recipients will not be required to take any specific action, though citizens who generally do not file tax returns (and are neither Social Security recipients nor railroad retirees) will have to prepare and file a simple return in order to be eligible for their payment. Economic impact payments will be issued throughout 2020.

ECONOMIC IMPACT PAYMENT ELIGIBILITY

Payments will automatically be issued to filers who submitted a tax return for either the 2018 or 2019 tax years. The maximum amount for individuals is $1,200 and the maximum amount is $2,400 for couples filing jointly. Filers with qualifying children may also receive up to $500 per child.

Individual filers whose adjusted gross income is $75,000 or under, or married couples whose joint income is $150,000 or under are qualified to receive the entire benefit. However, filers with incomes exceeding those amounts may still qualify for relief – for every $100 above the maximum amount ($75,000 individual or $150,000 joint) $5 will be deducted from the total payment. Individual filers whose income is over $99,000 and married couples filing jointly making $198,000 or more are not eligible to receive a relief payment.

The payment amount is calculated based upon the information provided in either the 2019 or 2018 tax returns. Payments will be deposited directly into the bank account provided on the return. If no direct deposit information was provided, the U.S. Treasury will offer an online portal for recipients to provide their banking information if they want to receive their funds directly deposited into their accounts. Those who do not provide their banking information will receive a paper check.

ECONOMIC IMPACT PAYMENTS FOR THOSE WHO DO NOT FILE TAX RETURNS

People who are not required to file a tax return, such as people receiving Social Security or who are railroad retirees, will still receive economic impact payments. The IRS will base payment calculations on the details provided on Form SSA-1099 or Form RRB-1099. However, because these forms will not provide information regarding dependents, the maximum amount these filers will receive will be $1,200 per person.

For more information about economic impact payments, please visit IRS.gov.coronavirus.

Sponsored Content

When you are running a business and selling to customers you need a reliable system that allows you to collect payments as seamlessly as possible while making the transaction straightforward for the purchaser.

In basic terms, setting up a payment gateway involves signing up for a merchant service who will authorize and process card transactions but it is also a good idea to pay attention to the sort of features you will find useful when deciding which provider to use.

Here is a look at some of the key features to look out for.

Good security is critical

One of the most important features to pay attention to is the level of encryption standards delivered by your chosen payment gateway.

When you consider that they will be entrusted with sensitive personal data you don’t want to face the prospect of any sort of data breach as this will not cast your company in a good light if a customer has cause to complain.

Question their encryption standards so that you can be satisfied the payment gateway has the ability to manage these risks successfully.

Easy integration

The bottom line is that you will discover certain payment gateways turn out to be easier to integrate with other systems than some on the market.

In fairness, the majority of payment gateways do work hard to ensure good compatibility where possible with the majority of systems but it makes sense to verify that your needs will be met when it comes to integration.

Different aspects of speed that matter

Today’s shoppers are not used to being kept waiting and any frustrations with a slow checkout process could result in some aborted transactions.

You will want all of your customers to be able to complete their purchase in just a few seconds and some payment gateways offer faster checkout speeds than others, so check your intended partner is up to scratch.

The other aspect of speed that matters to you is how quickly you get your hands on the cash from the transaction.

Every 24 hours makes a difference to your cash flow and that is why you should confirm how long it takes to complete a transaction and see the money in your bank account.

The right price

As well as choosing a series of features and service levels that you are happy with it is also highly relevant to choose a payment gateway that ticks all the right boxes in terms of costs and associated additional fees.

You might have to pay extra for certain features that you want or you could choose a provider that doesn’t charge a monthly fee or setup costs, however, they have to make money somewhere and their transaction fees of chargeback costs could reflect that.

If you can find a payment gateway that offers all the right features and the right costs you may well have found your perfect business partner and you can focus on growing your business knowing that aspect is taken care of.

 

Online banks have become very popular in recent times. The ease with which they allow us to carry out banking transactions that we would ordinarily have to go to the bank to carry out in the past after standing on queues for a very long time have made it appealing to us. There have in recent times being a battle between traditional banks and online banks. Online banks are trying to provide every service that traditional banks are also providing while traditional banks are also trying to take all of their services online and striving to see how they can provide every service online banks are providing and more. These have resulted in a very competitive environment where the fight of two elephants for once, have resulted in the grass enjoying instead of the grass suffering. The major ways online banks are influencing the financial industry are discussed subsequently.

Cheaper services
One of the major ways online banks are influencing the finance industry today is making cheaper services possible. Traditional banks require physical presence that implies having several branches across the country. They have to either buy or rent properties around the country while staffing the branches. The implication is that they spend a lot on expansion and salary payments. The money to cover these expenses come from charges to customers and other ways they raise money. For online banks, they just need a few software developers that create online apps that make it possible for people to carry out banking services. Thus, their running cost is significantly cheaper. The implication is that they can provide cheaper services. The traditional banks knowing that the cheaper services would attract their customers are also forced to bring down their charges towards remaining competitive. Hence, online banks have made many services in the traditional banking world cheaper, and some cases free, including charges on transfers.

Online loans
In the past, if you need to take a loan, you would have to go to the bank, make an application, provide collateral and wait for about 3 days for the loan to be approved for you to be able to access it. However, with online banks, it became possible to get instant loans. You could apply for a loan within minutes and you would already have the money in your account without providing collateral. Traditional banks are now following suit as well to provide a similar type of loan services and would only require you to do paperwork and collateral when you want to loan a huge amount of money that no online platform would be able to give to you.

Faster banking services
Another way online banking is influencing the financial industry is faster banking services. In the past, sending money to a different country would require days for the money to arrive in the country. However, online banks have now made it possible to send money within minutes and the traditional banks are also trying to follow suit. Transferwise is one of such online banks that allow people to instantly send money across the world at cheaper prices. You can read How does Transferwise work? to know more about online banking services and some of the innovations they have brought to the financial industry.

Fewer crowds in banks
Another way online banks have influenced the financial industry is the presence of fewer crowds in banks. It is mostly the older generation as well as few other people who want to carry out activities that they cannot carry out remotely that visit the bank. People no longer visit the bank to transfer money to their friends, families or to collect a little amount of loan. Payment of utility bills and cable bills among many others is now being remotely carried out. All of these are some of the ways that online banks have influenced the financial industry.

 

There are times as an adult where you will have to be focused on managing your finances a bit closer than you normally would. The last thing you want to happen is to sacrifice a lifetime of planning for some “unexpected” financial issues that you could have foreseen coming if you were paying attention. Here are just a few of the moments when you must keep a close eye on the bottom line.

It All Begins With Your Wedding and Reception

Do you know why wedding vendors love to be in that particular business? It is because it is the one time in your life where people declare they should not have to worry about money. People splurge on the reception like it is the last party they will ever attend. Not only is it extremely costly, but the cold hard facts are only about fifty percent of marriages last.

Should you really spend a year’s wage on your wedding reception? Even if you are lucky enough to have relatives helping with some of the costs, there really is no reason you need to go above five thousand dollars in total. You can have a heck of a party for that amount and be able to pocket the rest and put it safely into investments.

When Your First Child Goes to College

To say college is expensive is an understatement. After all, the sad news is you may currently be 50 years old and still paying off your student loans. Parents want to give as much as they can to their children, but trying to pay for all of their colleges is overdoing it.

There are enough grants, scholarships, and low-interest student loans available to college students so you don’t have to foot the entire bill. These can practically all be had with a little effort. Plus, if your child knows they are responsible for paying for part of the bill, they may choose junior college instead of the most expensive private college in the state.

What to Do When You Are Short Funds?

If you do find that you are ill-prepared for the cost of something down the road, you can take out a personal loan or even a second mortgage. It won’t be fun to do, but there are times when it is necessary. You can speed up the process, too, by going with certain financial institutions. Are no credit check loans safe? You will never know unless you talk to someone in charge, but they do provide you with funds rather quickly!

 

When was the last time you participated in a loyalty program that actually benefited you? Although there are a lot of such programs that deal with reward points and benefits for returning users, the actual benefits remain closer to naught. Some have hidden fees while others have a long list of unfathomable terms and conditions that borderline attempt to cheat the users. Together, these things make such reward programs unusable.

And that is exactly where Dhani Points, a reward points system by Indiabulls Dhani, stands apart. It is a one-of-its-kind reward program by Indiabulls that allows users to reap benefits off their daily financial transactions. It’s a fantastic program for anyone who wants a one-stop personal finance app for all their money movements and use the same app to earn points in return for their loyalty.

Let’s take a close look at Dhani Points and its features.

What are Dhani Points?

Dhani Points are reward points that get credited to your Dhani app after you execute each transaction through the app. This can be a small payment as part of your electricity bill or a flight booking for your vacation plan. But the biggest point-scoring action is personal loan repayment where you convert your earned Dhani Points into real money after each timely payment of the EMIs. The points are converted to equal amount of real cash only if the EMIs are paid on time.

Dhani Points system is available to anyone who uses the Indiabulls Dhani app for a variety of purposes. Although best known for instant personal loans and other credit services, Dhani is capable as a one-stop solution for any imaginable financial activity.

How to Earn Dhani Points?

Once you start using the app, you can immediately start earning Dhani Points through the following actions. You should note that 1 Dhani point is equal to 1 Indian rupee.

• Refer a friend and earn
• Billy payments and recharges
• Flight and other travel booking
• ‘Spin the Wheel’ in-app game

For example, take the case of Mahesh from Raipur who has to pay an EMI of INR 10,000 against his personal loan that he took from the Dhani app. Every month, he executes his usual financial transactions in addition to the daily gaming. By the end of the month, he ends up earning a good amount of Dhani Points which he can redeem through the wallet. Without doing anything else and just using the Dhani app, Mahesh is able to make his EMIs cheaper month after month.

Other ways to redeem Dhani Points are:

• Travel booking
• Utility bill payments and recharges

All in all, the Dhani app is a great resource for anyone looking to get rid of multiple apps from their smartphone. Just one app and you have a way for everything – from instant personal loans to bill payments to credit line to a wallet feature. What more do you need?

If you’re interested in discovering new investment platforms, in order to further diversify your investment portfolio and to decrease your risk, you may be interested in investing with Lear Capital for the first time. To discover why it’s currently one of the best financial platforms to invest with, simply continue reading to discover some of the many benefits of choosing to invest with Lear Capital.

Lear Capital offers one of the most lucrative asset classes to invest in, precious metals. So if you’re sold on the merits of adding precious metals, such as gold and silver, to your investment portfolio, it’s well worth checking out Lear Capital’s wide variety of gold and silver products. Some examples of which include gold and silver bullion of various sizes and more affordable silver and gold coins.

Why are precious metals one of the most desirable asset classes to invest in? Many of the world’s richest men and women have chosen to invest in silver and gold, as both resources are severely underrated and are well worth purchasing, while they’re still cheap. Especially as many investors and financial experts believe that it’s just a matter of time before the stock market crashes and sends the world into the next international recession.

Lear Capital are a well established financial company:

How long has Lear Capital been in business? You may be surprised to learn that Lear Capital has been serving their satisfied customers for over 20 years and were first established in 1997. So if you want to purchase your gold and silver products, from a reputable company who you can trust, it’s well worth choosing to purchase your precious metals from Lear Capital. As if there were a less than reputable business, they would not be in business after 20 years.

Lear Capital have processed over 3 billion US dollars of transactions:

Lear Capital have a proven track record and have processed over 3 billion US dollars of transactions for their clients. Many of whom are repeat clients and have been investing with Lear Capital for well over a decade. Which is proof that individuals around the world trust in Lear Capital to safely and securely purchase gold and silver products online.

You can employ the professional services of an account specialist:

If you’d appreciate professional assistance when it comes to building a precious metals portfolio, if you’re willing to invest a reasonable some of money with Lear Capital, you’ll be able to ask for the services of an account specialist. Whose job it will be to help you wisely invest your capital into lucrative, valuable forms of silver and gold.

You can purchase a rare gold and silver products:

As well as being able to purchase standard silver and gold products such as silver eagles and gold Canadian maple leaves, you’ll also be able to purchase rarer, collectible gold and silver products.

So if you’re ready to start investing in precious metals with a reputable platform, it’s well worth electing to deal with Lear Capital. Especially if you want to invest a large sum of money into precious metals.

 

You’re tempted to open your red envelope and claim your generous holiday bonus before December ends. And considering that it’s the Christmas season, it does make sense on the surface. But taking that holiday bonus before 2020 rolls around may be one of the worst financial moves you can make, according to the latest tax audit reviews. Let’s take a look at why.

Although you might be tempted to grab hold of that extra bonus cash at the end of the year, it may make more sense to delay the receipt of your bonus until January. Why? Because if you get a nice windfall at the end of a tax year, this sweet treat may come back to bite you at tax time. That’s because that extra money could you push you to a whole new tax bracket, which means that Uncle Sam will take more of your money when you file your tax return.

Note that in some situations, receiving a bonus in December will have no impact on your tax bracket for that year. A tax professional can advise you on whether taking your bonus around Christmas time will have an adverse impact on you tax wise. If so, deferring a holiday bonus would likely be a wise move for you.

Also, keep in mind that some employers will force you to take your year-end bonus at the end of the year. In other words, you don’t have the option of waiting for your bonus. However, other companies do give you some control in this area, in which case you should ask your employer to grant you your bonus in January rather than in December.