Loans may be short term, which would mean that they are payable within one year

Loans are either secured or unsecured

This is known as release on installment or termed as “lump sum” release

The first term means that the repayment of the loan will come from the proceeds of resale or from the income derived from the use of capital goods bought from the loan proceeds

While this term may connote the regular meaning of keeping the data in orderly arrangement for ready reference, it may include the added task of updating the files

Loans may either be commercial, agricultural, industrial, personal, and other similar classifications which will indicate for what purpose the funds will employed

done by detective agencies in order to get the necessary information regarding the applicant.

Once all the necessary information shall have been compiled, these are then analyzed. Tests and measurements, by bank standards, are applied.

To determine where the funds borrowed come from

It is used as a guide by the loaning officer or loan committee in arriving at the loan decision

was traditionally seen as a core function held within banks. Banks issued the original loan, so it made sense that they would be responsible for handling the administration of the loan

Collecting back the payment is essential for lending businesses. A digital lending platform can notify you when accounts become delinquent

You can track all the communication your employees are having with your clients.

These are loans that are for personal or non-commercial use. Organizations look up the credit history of the individual before giving out the loan

Financial organizations provide these loans to startups and businesses. Commercial loans are for business use only

expenses related to attending any educational institution. The funding can be for tuition fees or accommodation

These loans also have a middleman arranging the entire transaction. A loan where multiple lenders provide a loan to several borrowers under the same term.

These are short-term loans with high-interest rates, often availed by individuals to cover for certain expenses until the upcoming payday.

A three-digit number that evaluates how likely you are to pay off a loan. It incorporates all kinds of financial information about you, from the time you first opened a bank account, applied for a credit card, and started asking for loans

a senior-level manager who oversees a business's day-to-day financial operations. Sometimes called the “company historian,”

Manages the finance organization efficiently.

Provides the right information at the right time to support business execution.

Protects and conserves a business’s resources and accurately reports on its financial position.

Supports executives moving the company toward its mission and goals with financial information and analysis.

status of some cryptocurrencies is still unclear, with many governments seeking to regulate them as securities, currencies, or both.

there is no way to reverse or cancel a cryptocurrency transaction after it has already been sent

Many investors and merchants rely on exchanges or other custodians to store their cryptocurrency.

Due to the lack of coherent regulations, there are few protections against deceptive or unethical management practices.

Many investment and lending platforms use automated smart contracts to control the movement of user deposits

remains a substantial problem in the cryptocurrency space, and some exchanges have been accused of manipulating prices or trading against their customers.

is a distributed database or ledger that is shared among the nodes of a computer network.

is a digital currency, which is an alternative form of payment created using encryption algorithms

A general rule of thumb is that companies with more than $5 million in revenue are ready for — and require the expertise

Regardless of revenue size, most financial controllers are hired when a company needs to generate financial statements

When a business outgrows the abilities or available time of its bookkeepers, it’s time to hire a controller. Adding a financial controller helps a growing company execute complex accounting transactions, reduces the time needed to close the books and enforces internal controls and company policies

Current, savings and term deposit accounts would involve account opening, issue of cheques, nomination facilities, death claims, stop payment instructions, payment of periodical interest, introduction formalities and so on.

Banks are known to extend a variety of credit facilities such as term loans, cash credit, bills discounting, vehicles loans, agriculture loans, corporate credit, retail loans, guarantees and letters of credit, and a host of such other need-based facilities

These would relate to transfer of funds from one account to the other, from one city to the other, payment of bills, collection of cheques and bills

Banks provide not only various domestic banking facilities but cross country payments, currency exchange, remittance from abroad and such other services are provided to individuals as well as business entities.

These include providing personal banking, asset management, executor and trusteeship arrangements and such other services

Banks also provide a very wide range of services such as safe custody and safe deposit locker facilities, solvency certificates, insurance and mutual fund services, credit and debit cards, and sale of gold coins.

This popular type of account allows you to store and manage the money you use for everyday spending

An account that can help you separate the money you want to save from the money you need to spend. For many, it’s an easier way to work toward a goal, like saving for home improvements or building an emergency fund

is a type of savings account that often pays higher rates of interest than a typical savings account

you can pay for everyday expenses with just a swipe (and usually your PIN). The money will come straight from your checking account so there’s no need to carry cash if you prefer not to

lets you pay for items with a line of credit. In essence, you’re borrowing the money and then paying it back when the bill comes.

refers to the transfer of funds from one account to another through electronic methods. An arrangement between a bank or a financial institution and its customers that enables encrypted transactions over the internet

Any transaction – financial or non-financial – that you make over through a web page (generally the bank's website) or a web application constitutes internet banking

are a form of E-banking, can help us easily withdraw cash from ATMs and POS (Point of Scale) machines

was the first E-banking service provided by banks when they started going digital. makes the process of withdrawing and depositing money convenient.

is a technology that is restricted to business transactions. It is used to improve operational efficiency and reduce transaction costs across a supply chain consisting of manufacturers, suppliers, logistics providers, retailers, and wholesalers, etc.

is used to electronically transfer money from one bank account to another.

a varied group of accounting professionals. Mostly CPAs with a staunch regard for accuracy, process and policy, controllers’ responsibilities can vary greatly depending on the size of the organization and industry.

This is the core technology for financial controllers — the “books” include the general ledger, subledgers, journal entries and an asset register, among others.

These systems merge the individual finances of different divisions and business units, including those that are geographically dispersed.

tools generate company financial statements and support modeling and analysis.

Financial controllers require access to aspects of all these systems, though they don’t typically oversee them all.