Tag Archive | bankers

4 Reasons Why Your Banking Relationship Is About to Significantly Change

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(This post originally appeared on the Huffington Post)

Will Google be your business banker? Think about it: Does your business really need a bank? Or maybe, you should just let Google handle it all.

According to this recent piece in the Washington Post the

…universe of (banking) competitors has grown to include T-Mobile, Wal-Mart, Google and a host of other retail, tech and telecom companies that are now operating like banks. These upstarts are gaining footing in the banking world with prepaid debit cards that customers can use to pay bills, make purchases and deposit checks via a smartphone camera — pretty much all the things you can do with your traditional checking account.

Banking with Google? Hey, why not. They’ll be driving our cars and controlling our vision soon enough, so why not just let them take over our finances too? If not them, then how about other online services like Simple, PayPal, and Square? They’re also out to replace our banks too. Read More…

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4 Reasons Why Your Banking Relationship Is About to Significantly Change

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(This post originally appeared on Inc.)

Think about it: Does your business really need a bank? Or should you just let Google handle it all?

According to this recent piece in The Washington Post, the “…universe of (banking) competitors has grown to include T-Mobile, Wal-Mart, Google and a host of other retail, tech and telecom companies that are now operating like banks. These upstarts are gaining footing in the banking world with prepaid debit cards that customers can use to pay bills, make purchases and deposit checks via a smartphone camera–pretty much all the things you can do with your traditional checking account.”

Banking with Google? Hey, why not? It will be driving our cars and controlling our vision soon enough, so why not just let it take over our finances, too? If not Google, then how about other online services, such as SimplePayPal, and Square? They’re also out to replace our banks.

The banking industry is undergoing an enormous change. And, whether you like it or not, your business is stuck in the middle of it. Your paper checks are slowly disappearing in lieu of electronic payments. Your need to make a physical deposit at your branch is becoming less necessary. It’s hard to believe that, for many of us, our moms and dads had to take cash out of the bank every week and be there before the branch closed at 3 p.m.! Those were simpler times. So, like gas-station attendants and Tab cola, will banks disappear altogether? Read More…

NYT: This Week in Small Business: 1,000 New Bankers

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(This post originally appeared on the New York Times)

The Big Story: Four More Years

At his inauguration, President Obama delivers a rallying cry for active government. Rick Newman says the president has given a gift to the stock market. This blogger believes that the speech made things a lot more certainfor small businesses. Here’s the whole speech in just three minutes. These are 22 of the most fabulous Beyoncé moments from the inauguration (and one that’s not-so-fabulous). The president’s daughters seemed to enjoy the day, too.

Finance: Bank of America Hires 1,000 Bankers

Investment professionals are anticipating an influx of income and growth-hungry mom-and-pop “retail” investors. Bank of America reached its goal of hiring 1,000 small-business bankers and extended nearly $8.7 billion in new credit to small businesses in 2012. Companies are keeping stockpiles of foreign cash in the United States. Erik Sherman says you should be wary of any Web site that claims to enable crowdfunded public offerings.

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