IT architecture strategy

Obviously the banks to fully implement the new regulatory rules cost effectively, a simple approach is not sustainable response. Instead, it is essential to develop a strategy that looks at their impact on the entire lifecycle of business and commerce in order to avoid duplication and increase implementation costs.

With regulations logical choice now part and parcel of the financial services industry, banks must adapt and manage the network address of the legal initiatives as a function core activities. As part of this new way of thinking, there is an additional step that should be considered: the connection between the regulations and the bank’s IT architecture.

Adding value through collaboration

Last week, the Bank for Foreign Trade of Vietnam (VIB) to 15 joint-stock commercial banks and two founding companies have announced the establishment of JSC Smartlink Card Services.
This company is specialized in providing services related to payment cards, management and operation of the card payment network member banks and the development of electronic payment channels.
Here is the content of our conversation with Ms. Nguyen Tu Anh, general director of Smartlink.
Can you tell us what that reason is affiliated Smartlink Card Alliance VCB split up a joint stock company?
VCB Card Alliance was founded in late 2003 and VCB is dominated by the leading bank in the card business, with modern technology systems, experience and resources has stood out as the bank switching out the card and support commercial banks shares issued deployed operations and domestic payment card brand Connect24, international card issuer MasterCard branded payment cards and other international.
After nearly 4 years of implementation, VCB Card Alliance has attracted 25 banks participating members, including 17 banks have connected successfully deployed and operational stability.
To professionalize the management system for VCB card switching, the development of electronic payment channels to support the use of the card as well as to strengthen and expand relationships multilateral cooperation, links to the development, VCB and the member banks have agreed to establish joint stock company Smartlink card with VCB is the lead bank.
With the launch Corporation Smartlink Card Services clients will get what utility, ma’am?
On the basis of the alliance system has been operating VCB card stability, when in operation, SmartLink will provide more convenient services for customers of member banks. Namely: payment via Smartlink network, the bank’s card holders can use the ATMs and POS of other banks in the alliance, bringing convenience to customers as well as saving costs and resources for member banks.
Along with member banks and partners, Smartlink also provides customers with advanced product line product line includes Smartlink card prepaid gift cards, electronic payment cards, travel cards …
Smartlink most important piece is the development of electronic payment channels connecting the member banks with suppliers of goods and services, allowing customers to use the bank card members shopping done goods and services, pay phone charges, electricity charges, water through electronic transaction channels such as Internet, mobile, ATM and POS.
16 member banks of Smartlink get preferential treatment when using the services of Smartlink? As for the other banks, why?
One of the criteria that the SmartLink must follow to avoid unfair competition between member banks is to adopt a policy consistent products and services to member banks.
With other banks wishing to participate in the system connection, SmartLink always ready to provide services. However, banks also have to ensure a certain number of conditions on standards of technical systems before making connections.
Both the Board Chairman and General Director of Vietcombank are people, so dominant Smartlink VCB? She can tell how much VCB accounted for an equity ratio of Smartlink?
The nominated and elected Chairman of the Board of Directors of the Company approved by the General Meeting of Shareholders of the Company (as the member banks) through. Director General by the Board of the Company on the basis of a selection meeting requested by the Board in place. In the ownership structure of the company, accounting for 11% stake VCB.
The bank’s competitors has recently collaborated with each other through Smartlink, according to her, will that cause instability in the operation of the SmartLink?
Each bank has a certain strength of the product or service provided to block its retail customers. Participation in connection with Smartlink system will be an opportunity for banks to increase the diversity of products, increase the added value for the service provided, and create even more convenient services for guests blocks his line with a policy of products and services are applied uniformly Smartlink for member banks.
The goal of Smartlink in the future look like? Smartlink has prepared for this purpose to where?
Smartlink is established aimed at two basic objectives: The first is the provision of support services business that card center of bank cards or inability to perform or if implemented, nor highly effective.
The second is the provision of electronic payment channels and services identifiable link, connecting the banks with units supplying goods and services in multi-channel systems, multimedia and technical standards and international operation aimed at promoting the development of other forms of cashless payment, service providers of goods and services in a professional manner.
To prepare for this purpose, with local partners, Smartlink has signed a series of cooperation agreements providing e-commerce services for companies providing mobile telecommunications services, providers Internet services, insurance, travel and large retailers in Vietnam, including: Mobifone, Viettel, VinaGame, Pacific Airlines, Bao Vietnam, Mai Linh, VTC …
Regarding international cooperation activities, Smartlink is also necessary to take steps to become the transaction processing center (3rd-party processor) for all international organizations in Vietnam cards such as Visa, MasterCard, American Express , China Union Pay, JCB, Diners Club. Accordingly, the international card transactions of the member banks perform in Vietnam will be processed right at Smartlink system, solved the problem of economic efficiency of the card payment networks.
Additionally, SmartLink also plans linked to the domestic card payment network of the countries in the region such as Singapore, Thailand, Malaysia … to expand its network and increase card acceptance utility customers members of the bank.

Methods of personal financial management efficiency

Many young people out or confide their lives difficult, but hard work though the salary was not enough to cover the daily necessities. Meanwhile others but also the same as their salary but with fairly comfortable life. So the problem here may be due to spending less reasonable way, you do not have to manage their finances effectively? If you have been experiencing these situations, it’s time you sit down to find solutions for themselves.

quan_li_tai_chinh_ca_nhan_3

Everything is easier when there is objective

If you do not intend to save or accumulate a sum of money to implement the financial plan in the future, you will be very easy to use up their monthly salary. Set financial goals as soon as you start earning has never been excessive at all. But the target is too high can also make you depressed. You draw up a plan fantastic and desirable, but as done, the more you feel impossible. Finally, you also do not have the patience to pursue the objectives set out by myself and decided to quit.

Many people think of the savings but set yourself specific goals that simply acting like friends, but do not have clear objectives, often they will not save anything.

The goal is very important. A common point of those who are successful in managing personal finances, that they are the appropriate targets, clear direction in life. From there, they outlined a reasonable spending plan, persistence and accumulation pursue it to make financial plans for the future. Set appropriate goals for yourself now to start building a strong financial resources and strong.

Mistakes dismiss thoughts

“I will manage to have a lot of money” is a common mistake and should be dismissed before talking about financial management. This argument is no different than “I will study hard when I reach 10 points.” If you do not know what good management you are, life will never let you add something.

Someone said: “Money management made me feel not free” – financial freedom is the greatest freedom, support for all other freedoms. Without financial freedom, if you have enough money and time to make the dream? Please believe in me! The financial management of each day will give you the wonderful feeling of infinity, is one extremely good habits.

The possible reasons why you can not cut spending

1. Set goals too high

In early January you put rocket fuel reduction target to 40% of their monthly spending, then gradually you will find that you did not accomplish that. And from then on, you will not strictly observe this saving again.

2. Set specific target

You just set the general goal is to be as many or much. Do not set out specific goals that will make you not strict implementation and reduce efficiency.

3. Lazy record of spending the day

When you do not regularly update daily expenditures would elusive financial situation and hinder the implementation of your savings plan.

4. No cash flow management

This will lead to a difficult life because sometimes you have to choose between saving and important things expensive in a certain time.

Method of Personal Finance Management Jars

Method of Personal Finance Management Jars invented by T. Harv Eker (author of Secret of the Millionaire Mind) is a master of presentation, has designed dozens of short and long term courses on personal development. He was named “Trainer Of Trainers”

Jars method is the method of the jar, because your money will be divided among 6 jars 6 symbolizes a personal account. Imagine when you receive income every month (possibly wages, or money from parents, or any other source of income, more or less does not matter). That amount will be divided among the following jars are marked with the corresponding percentage.

Phuong management personal finance Jars

NEC (neccessities) – Account necessary expenditure – 55%
LTSS (Long Term Saving for Spending) – Savings Accounts for future consumption -10%
EDU (Education) – Accounts education – 10%
FFA (Financial Freedom) – Financial Freedom Account – 10%
PLAY – Accounts enjoyment – 10%
GIVE – charity account – 5%
When you look at the account, you may be wondering is it seems one of the account it slightly overlap with each other, but really, each account has its own purpose and effect there.

Phuong-phap-the-cup-ear-main-ca-face-hieu-quaPhuong management personal finance Jars

1. NEC – account necessary expenses 55%

This is the consumer accounts for your necessary expenses, such as meals, transportation, shopping including the necessary things for themselves. You might wonder every different needs, whether 55% may be sufficient or not. Really, the statistics show that 55-60% will be enough for your income, if you find you need more, prove your spending is irrational.

The effects of this account is to let you know your spending limit is how much, from where you will change the way of life to suit their conditions. And if you’ve never planned to clear, you will often spend bluff and encroaching into other accounts.

2. LTSS – savings accounts for future consumption by 10%

This account you will have to spend a period of time long enough to give the big spenders in the future. For example, at school, you want to purchase a new phone, or to buy a laptop, then this is the account for you to spend it (because it’s great for you). Or when you have to go to work, then this account for your savings to buy larger items such as car shopping, buying a home, saving for the wedding and so on …

The effect of this is to your account to see clearly his purposes are aiming for, and will save money slowly for that. The major expenditures such as this, you need to have long-term plans rather than have to carry all your money then to buy her out, as it will affect your other expenses.

3. EDU – education account 10%

This is an account for your own education, that is to let you upgrade yourself. This account can be spent on items such as participating in courses to upgrade themselves, buy books or learning materials … And remember this is the account for your own education, you have to spend a reasonable to upgrade themselves continuously, so you can we ensure the value itself.

The effects of this account is force you to constantly invest in themselves, because this will definitely be the most profitable investments in your future.

4. FFA – free financial accounts 10%

Maybe this is a new concept for you, said simply, this is the account for profitable investment. There are many ways to invest but for example you can use to play the stock, or to spend much more possible when capital partners to do business with friends, or open a small shop, or even open the company.

The effects of this account is to let you always available 1 chocolate money for investment purposes in the future, but not until you go to collect money. And the reason that this account name is Financial Freedom (Financial Freedom) is because only investment (reasonable and effective) to be able to help you get rich, and to achieve Financial Freedom. When the amount of income from your investment deals sufficient to pay all expenses in your life, then you have no need to go to work but can still live comfortably.

5. PLAY – enjoy 10% account

This is actually to your account spending to satisfy their own luxuries. Maybe you need a new coat (just because you like, not because demand), purchased game disc, the new disc. Even for traveling, eating spree with friends. And remember, this is a MUST spending account, whether you’re spending extremely sparingly, but always to place a sum for yourself. This clause can put together a few months to disposable, but you should not leave it too long.

The effects of this account is to give you reward yourself (following a hard time making money), and only you to enjoy your money, you will have earned a lot more motivation to earn more money.

6. GIVE – charity account 5%

This is the account for you to give to others, be it going to donate to charity, helping the poor children. There are many activities that you can spend this money on. But you should always set aside one account to help others.

The effects of this account is under the Law Of Attraction when you give, you will get about … helping other people, of course you will happier. But for yourself, it will also help you get more money in the future jog.

NOTE:

Problems for money in this jar should be done every day, I mean EVERY DAY. If you do every day, but only increase the amount on each end of the month, that is, you are only servants, salaried. Look for additional sources of passive income to supplement other income sources of his day.
Enjoyment PLAY Fund should be continuous consumption, it must be the end of every month. If it’s extra money, you need to rebalance your life by thinking about caring for myself, if it is missing, you should concentrate on your monetization.
FFA Foundation financial freedom, you should never spend money in this fund, investors just used it to create passive income