Everything you need to know about securities lending

We’ve become so digitally centric that it’s hard to visualize the future of business without it. Just as it is impossible to imagine successful businesses without digital marketing.

As we look to the future of business, companies that have already embraced digital marketing will strive to perfect their strategies.

For these companies, the question becomes “what digital marketing strategies can we put in place today that takes the future into account?

We will explore some of these strategies here.

If you haven’t joined the digital bandwagon, well, it’s time you did or risk losing substantial business opportunities to competitors who have already.

1. Data analysis

Data analytics is a strategy that will remain relevant for years to come.

It examines large datasets to draw conclusions about consumer behavior, rising trends, and untapped opportunities that your business can exploit.

So rather than digging up your information from whiteboards and papers, you digitize your data and let technology do the work.

The results are much more accurate and allow you to make research-based marketing decisions.

Decisions that facilitate highly optimized marketing campaigns, better value for customers, improved operational efficiency and increased sales.

Here are some ways data analytics can help your business:

  • Improve sales forecasting. By comparing historical feedback (customer behavior, responses, complaints, and sales activity) and current circumstances, data analysis helps you understand your performance and even predict future circumstances. You can then make appropriate budget allocations.
  • Improved marketing segmentation. Data analysis allows you to define your buyer personas and group potential customers into those personas. This enables granular-level message personalization that engages audiences and encourages engagement.
  • Booster email advertising campaigns for better interactions. Email is perfect for reaching the public. Data analytics steps in to let you know which subject lines and messages are driving engagement, as well as the best days and times to send emails.

2. Marketing chatbots

With the continuous development of artificial intelligence technology, chatbots are becoming increasingly useful in providing quick and effective solutions to site visitors.

The 24-hour uptime feature means your site serves customers and prospects non-stop, which boosts lead generation efforts and revenue.

To build an effective chatbot strategy, consider the following:

  • Understand your users. Having the big picture of your customer, i.e. your buyer persona, should shape the reach and execution of this strategy.
  • Define your goals. What do you want to accomplish? Reflect on your customer conversion process and work backwards to identify all touchpoints. What value can your chatbot offer? How can it drive site visitors to convert?
  • Choose a platform. The obvious choice is your website, but you can also have them on your social media channels. On your website, consider placing the bot on high-intent pages (service pages, pricing pages, and landing pages), high-traffic pages, and blogs.
  • Create chat streams. Create pre-planned conversations based on different customer responses for your chatbot to follow. You also need to program the chatbot to send requests it doesn’t understand to human agents.
  • Build the robot. You can build your chatbot using a chatbot builder (like Chatfuel, Pandorabots, ManyChat, MobileMonkey, etc.) or purchase one. The two options have a different impact in terms of resources and skills needed, risk management and user experience.
  • Test the robot. Use every possible interaction you can think of to test the chatbot before going live. This will help minimize errors when uploading.
  • Watch your robot. Keep an eye on the bot once it’s live to make sure it’s working as expected. Update the bot with changing industry trends and common questions asked by site visitors.

3. Interactive Content

Interactive content facilitates a two-way conversation with your audience. They don’t just read what you wrote, but can engage with it and try different results.

So, while static content works, consumers are increasingly interested in interactive content that gives them an idea of ​​the products/services.

This type of content does a great job of grabbing audience attention and boosting lead generation while allowing you to collect user data.

You can incorporate them into your email marketing campaigns, landing pages, advertisements, and social media posts.

Examples of interactive content include interactive calculators, interactive assessments, interactive quizzes, interactive infographics, and interactive videos.

Benefits of using interactive content include:

  • Attract and engage users. The dynamic nature of this content grabs attention and keeps your visitors engaged for longer. Audiences personalize content in real time for varied results.
  • Lead generation assistance. Experiences like calculators and ratings provide real value to users, which means audiences are more likely to share their contact information for them.
  • Help SEO efforts. Embedding interactive content and sharing it on social media, website, email, or paid ads can help improve brand visibility. Making your interactive content shareable can help increase backlinks and improve your SEO.

4. Cold Call

How is cold calling a strategy for the future?

As long as we build new businesses and seek solutions to improve operational efficiency and drive sales, cold calling has a future.

Sales and marketing teams will continue to prospect and reach out to companies they have never done business with before to share their unique value propositions

Communication is two-way in real time, allowing teams to get feedback and assess the quality of their leads.

This gives them a better understanding of their target market and how to develop personal relationships.

Here are some actionable tips to help you reach more leads and close deals:

  • Pre-qualify your prospects. Research your target market to understand their needs, motivations, pain points, and the capability of your solution. This will allow you to spend more time talking with well-suited brands and not wasting time with those who are not interested.
  • Know your offers. Keep useful data and statistics at your fingertips so you can share them with prospects. Go further and stay on top of industry trends, legislation and their impact on your brand/solutions.
  • Use a script. Don’t read it verbatim unless your business requires you to, in which case you should try to sound natural. Cover all the points you want to discuss and include FAQs, objections and objective answers.
  • Keep it simple. Most B2B needs and concerns revolve around improving operational efficiency, increasing revenue, or reducing costs. Explain in the simplest possible terms how your products/services solve these problems.
  • Agree on the next step. Before you end the call, make sure you’re both in agreement on what’s going to happen next, and then act on it.

5. Influencer Marketing

From customers and industry experts to company employees and journalists, B2B influencers are followed in their niche.

It may not be a huge audience like you would find in the B2C industry, but it is an engaged audience. And targeting an engaged audience is perfect for maximizing visibility, building credibility, and improving sales numbers.

Key considerations when implementing influencer marketing strategy include:

  • Create reasonable deadlines. Although B2Bs are not likely to buy on impulse, an influencer they admire and respect is likely to influence their decisions. Keep this in mind, besides the fact that B2B purchases generally take longer to complete.
  • Know who your customers and target audiences follow, listen to, read and watch. These influencers make excellent advocates because they have already established trust and authority among their followers.
  • Set standards. Establish criteria that potential partners must meet to work with your organization. Examine the brand’s collaboration history, audience engagement rates, content distribution channels, and top performing content, among other pre-qualifiers.

LA wins call in fight against Uber for scooter and data on bikes

This is an archived article and the information in the article may be out of date. Please look at the history’s timestamp to see when it was last updated.

Los Angeles officials were right to suspend Uber’s license to rent scooters and e-bikes in the city because the company refused to share real-time data on its passengers’ journeys, a hearing officer.

The 13-page decision is a blow to Uber’s subsidiary, Jump, which has been battling for more than a year against a data-sharing rule imposed by the city’s transportation department.

Uber spokesman Davis White said the company will appeal the decision. For now, customers can still rent the bright red scooters and e-bikes through the Jump app.

“We have made it clear for months that we have serious privacy concerns regarding LADOT’s requirements to collect real-time individual travel data on our passengers in Los Angeles,” White said. “We believe that the best methods of data aggregation could deliver near real-time LADOT data, while protecting the identity of Los Angeles residents and our passengers. “

Read the full story on LATimes.com.


Car title loans face interest rate caps in Georgia Senate bill

ATLANTA — The practice of pawning your car title to make ends meet could become a bit more restrictive in Georgia under a bipartisan bill introduced in the 2020 legislative session.

Using a person’s vehicle as collateral, auto-title loans provide small amounts of money quickly to cash-strapped borrowers, without the need for a credit check. The loans, which can carry high triple-digit interest rates, can cost borrowers their vehicles as well as the balance of any outstanding debt in the event of default.

For developers, loans offer people a way to keep themselves financially afloat in times of hardship.

These borrowers may not qualify for other types of loans offered by lending institutions like banks or credit unions, depending on the lenders in title. High interest rates help offset the risk of lending to less financially stable borrowers, they say.

But critics argue that the practice helps trap the state’s most vulnerable populations in a cycle of debt, especially for low-income and black communities. Consumer groups have long called for more legal safeguards on title loans to curb so-called “predatory lending” techniques.

Senate Bill 329 would cap interest rates at 36% per annum for auto-title loans in Georgia, closer to regulating other small-value loans. It would also set stricter conditions for refinancing and set limits on how much a lender could collect in the event of default.

The bill’s sponsor, Senator Randy Robertson, said he was inspired by a Columbus voter whose elderly father pawned the title to his car to pay his utility bills, then fell into a hole because of the increasing monthly payments of the loan’s 166% interest rate. .

Robertson, R-Cataula, said he modeled the 37% interest rate cap legislation that the

The U.S. Department of Defense provided approved military loans in 2006.

“I don’t want to kill business and I certainly don’t want to close a lane that a segment of the population may need to get around,” Robertson said. “What I want to do is line up that lane with the closest thing.”

Sen. Chuck Hufstetler, Republican chairman of the Senate Finance Committee, is co-sponsoring the bill with three fellow Democrats: Sens Zahra Karinshak, Ed Harbison and Sheikh Rahman.

The bill would also move regulation of small consumer loans from the state Department of Insurance to the state Department of Banking and Finance. Gov. Brian Kemp has already estimated this will go into the state budget for fiscal year 2021.

Predatory loans or loans of last resort?

Small consumer loans are regulated to varying degrees in Georgia depending on the amount and type of loan, but none can carry interest rates above about 60% per annum under the loan’s usury cap. State.

This does not cover loans involving car titles, which state law considers pledged items. Pawnshop transactions are subject to interest rates of 25% per month for the first 90 days, then 12.5% ​​per month for every 30 days thereafter.

Consumer protection advocates see the pledge designation as a loophole that prompted automatic securities lending to balloon in Georgia. The nonprofit group Georgia Watch estimated that 755 securities lending companies were open in Georgia in 2018 and accrued nearly $200 million in interest.

Georgia Watch executive director Liz Coyle said these companies often prey on troubled borrowers who desperately need money and are willing to pay off high-interest loans for years to avoid lose their car.

“Pawning your car title is not the same as pawning your grandfather’s watch,” Coyle said. “It’s a debt trap.”

Robert Reich, president and CEO of Atlanta-based lending company Community Loans of America, disagreed with this characterization. In a statement, he said the high interest rates reflected the risk of such loans and argued that they should be regulated by local county and city rules, not the state.

“These are high-risk financial transactions and we look forward to working with the author to further educate about our industry in hopes of empowering unbanked customers with options that would not otherwise exist,” Reich said.

A better approach, Reich said, would be to go with the regulations proposed in legislation introduced in 2017 by Rep. Brett Harrell, R-Snellville, that would limit loan terms but keep interest rates largely the same. Georgia Watch called this measure not tough enough. He stalled at the State House.

For his part, Robertson framed his bill as a way to curb small loans that could help alleviate the “generational poverty” that can drive people to commit crimes.

Robertson, a retired major with the Muscogee County Sheriff’s Office, said many Georgians who end up in jail were raised in families that had to operate “quick money type businesses” to make ends meet.

“It empties jails and jails,” Robertson said of his bill. “We need to stop the behavior that gets them incarcerated, and I think relying on predatory loans is part of that behavior.”

Story Beau Evans, Editor – Capitol Beat News Service

Georgia senator seeks to cap interest rates on car title loans

A proposed bill in the Georgia Senate would cap the interest rate on car title loans and limit the amount lenders could collect in the event of default.

Senate Bill 329 was introduced in late January by state senators Randy Robertson, Chuck Hufstetler, Zahra Karinshak, Ed Harbison and Sheikh Rahman. The bill is bipartisan as Robertson and Hufstetler are Republicans and Karinshak, Harbison and Rahman are all Democrats.

The lengthy 32-page bill specifically seeks to cap interest rates at 36% per annum for any car title loan issued in the Peach State. Furthermore, it seeks to prohibit the lender from continuing to collect interest on the loan after the sixtieth day after the borrower has not made a monthly payment by the due date “unless the borrower conceals the motor vehicle”.

The legislation also outlines how lenders disclose title loan parameters.

Other consumer loans of a similar nature are capped by the state and none currently have rates higher than 60%, but car title loans fall into a different category alongside pawned items. These are subject to interest rates of 25% per month for the first 90 days, then 12.5% ​​per month every 30 days thereafter, depending on North West Georgia News. Consumer advocates in favor of the bill say the type of loans are predatory in nature and prey on those in need. They even went so far as to call car title loans a “loophole” in the title pawn industry.

Robertson said Calhoun’s time that he is pushing the measure because of a constituent in his district, which encompasses Columbus, whose “elderly father pawned the title to his car to pay his utility bills and then fell into a hole because of increasing monthly payments of the 166% interest rate of the loan.” He also told the newspaper that his bill will “alleviate generational poverty” and “empty jails and jails.”

To help push the initiative through, the bill was combined with another initiative which includes transferring the regulation of consumer loans like these to the Ministry of Banking and Finance from the current Ministry of Insurance. . This is something that has already been factored into Kemp’s proposed budget for fiscal year 2021.

The measure was assigned to the Senate Finance Committee, of which co-sponsor Hufstetler is the chairman. He hasn’t had a hearing yet.

You can read the 32-page bill in full here.


Jessica Szilagyi is a former statewide contributor for AllOnGeorgia.com.

Payday loans and car titles need reform

By Rabbi Gary S. Creditor

When my wife and I applied for our first credit card, I eagerly waited for it to arrive. When we applied for our first car loan, I had no doubts that we would be approved. When we applied for our mortgage, I was also certain, but amazed at the amount of paperwork involved and the amount of information required. Never in our lives have we needed short-term loans or had to give title to our car as security for a loan.

We have been blessed.

But for so many Virginians, their financial reality makes it impossible to get the loans and mortgages I received, so they have to go to the nearest payday lender. Then they often find themselves trapped in a terrible scenario from which there is almost no escape. In the Commonwealth, payday and car title lenders can charge interest rates of 200 and 300%. Although borrowers intend to take them as short-term loans to tide them over in the event of an emergency cash crunch, it often doesn’t turn out that way.

People who already struggle to pay their grocery bills or keep the lights on end up paying more interest and fees than the original amount they borrowed. For example, in Virginia, the average car title loan is $1,116 and the average reimbursement cost is $2,700. Virginia also has one of the highest car foreclosure rates in the country. Those in the weakest financial situation often sink deeper into poverty. For those who lose their car titles lose their means of transport to work in order to earn money to repay loans! Virginia has the dubious distinction of having one of the highest car repossession rates on title loans in the country because our laws have unusually weak consumer protections.

Any cursory reading of Scripture, especially Leviticus and Deuteronomy, finds numerous commandments whose ultimate goal is the alleviation of poverty and the elevation of the poor to equitable financial status. Just substitute current terminology for agricultural terms. While the main objective may be utopian, namely to eliminate poverty completely, in the meantime; The scriptures compel us to care for and care for the poor, the needy, and those unfamiliar with the intricacies of modern finances.

How clear are the following verses: “Do not put a stumbling block before the blind”, [Leviticus 19:14] and “Cursed be he who leads the blind astray.” [Deuteronomy 27:18]. “Don’t steal from the poor because he is poor! [Proverbs 22:22]. While scripture was composed centuries ago, its words echo with force and urgency to our legislators in Virginia. They must regulate this industry and put an end to these practices that can cause financial ruin and lead to eviction and homelessness.

The countless religious communities of the Commonwealth of Virginia can find endless quotations in their sacred texts that echo the words of Leviticus, Deuteronomy and Proverbs. In unity, religious communities raise this issue and together demand that the General Assembly adopt laws to remedy this situation.

As a member of the Virginia Interfaith Center for Public Policy, I thought we were successful in championing this cause. In 2008, certain limits on payday loans were adopted. But lenders quickly turned to offering “open credit,” like a credit card but with 300% interest, exploiting another part of Virginia’s legal code where they aren’t required to obtain a license. and can charge unlimited rates. Virginia is one of six states whose lending laws are so weak that payday lenders operate that way. Our state legislators have attempted reforms over the years, but lenders have successfully blocked or circumvented the rules, so now we must redouble our efforts and demands.

While our economy appears to be thriving with low unemployment rates and a strong stock market, the truth is that the gap between the weakest members of our society and those with the highest incomes has widened to epic. Vulnerable people are more vulnerable than ever. I realize that there will always be people who need access to immediate capital and liquidity and companies who will accept different levels of risk to make it available. These lenders don’t need to rip people off with such usurious rates.

Evidence from other states shows that carefully crafted laws can ensure strong safeguards for these businesses while allowing widespread access to lower-cost credit. In fact, some of the same companies operating in Virginia today charge up to 300% interest charge less in other states. Why should our laws allow our citizens to be exploited? The scriptures command: “There shall be one law for the citizen and for the stranger who dwells among you. [Exodus 12:49]

The possibility of a fair market where all loans have affordable payments, reasonable prices and strong consumer protections is already a reality in other states. It’s a goal that church leaders in Virginia have long been calling for, and the time has come.

The Virginia Interfaith Center for Public Policy and the Virginia Poverty Law Center are working with partners and lawmakers to take action to protect consumers rather than predatory lenders. Bills demanding comprehensive predatory lending reforms have been introduced by Senator Mamie Locke (SB421) and Delegate Lamont Bagby (HB789) and proceed towards the passage.

This legislation will finally fix the problem and put money in the pockets of Virginia families who live paycheck to paycheck. Faith communities across the state are being mobilized to make sure they do.

Scripture, respected and honored by all religious traditions, requires: “Justice, justice you shall pursue [Deuteronomy 16:20].” The time has come. The Virginia General Assembly is the venue.

Rabbi Gary Creditor is a board member of the Virginia Interfaith Center for Public Policy and Rabbi Emeritus of Temple Beth-El in Richmond. ([email protected]).

Ballot initiative to ban securities lending runs out of money

Supporters of a bid to ask voters to ban securities lending have quit amid the inability to raise the funds they need to get it – and keep it – in November’s ballot.

Rodd McLeod, campaign consultant for Arizonans for Fair Lending, said the federal courts’ refusal to strike down a petition signing law has increased costs beyond the point supporters are willing to fund. And without money, he told Capitol Media Services, it makes no sense to keep collecting signatures.

The initiative sought to ask voters to remove the exemption the industry now has from a state law that limits qualifying interest to no more than 36% per year. Current title loans can carry an annual percentage rate of up to 204% per annum.

Speedy Cash is a securities lender with 13 locations in Metro Phoenix.

Backers needed 237,645 valid signatures as of July 2, 2020 to put the question on the general election ballot that year.

But McLeod said the law, signed into law in 2014 by the Republican-controlled Legislature, actually requires circulators to collect far more than that to prevent signatures from being disqualified. And even if they do, he said, the law gives enemies of the measure new legal tools to try to stop it from going to voters.

On paper, the law in question requires paid circulators to register and provide an address where they can be subpoenaed.

Crucially, however, is that judges are required to reject all signatures of any circulator who fails to appear in court, whether or not there is other evidence to show that the signatures themselves are valid. and were legally collected.

McLeod’s group was so concerned that they asked a federal judge to strike down the laws.

In a 19-page ruling last year, Justice Susan Bolton acknowledged that the 2014 law could make it harder for those proposing their own laws and constitutional amendments to submit their proposals to voters.

But Bolton said the challengers had not presented enough evidence – at least not yet – to show that allowing it to remain in force poses irreparable harm, either to voters or to those hoping to propose future measures. vote. So she agreed to allow the law and its hurdles to stay on the books pending a full trial, which is unlikely to happen before the deadline for groups like McLeod’s to turn in their signatures.

“We don’t have the money as a campaign not only to collect the additional signatures due to those who are going to be rejected on these legal details, but also to bring people to court at the same time” to confirm the signatures that they collected. “It’s also expensive.”

In fact, this might be the most expensive part, since anyone who wants to challenge the legitimacy of an initiative campaign need only file a lawsuit to challenge the validity of the signatures and then issue subpoenas to appear for all paid circulators.
McLeod said someone could have collected 1,000 signatures.

“But the person who witnessed your signature, the paid circulator, is not available on a Thursday next August to appear in court in Phoenix because he may be living in Sierra Vista,” he said. declared. “So your signature is thrown away, your voice is silenced, because of a technicality related to the person who collected the signature.”

McLeod pointed out that lawmakers, in enacting the requirement, did not extend it to petitions to nominate candidates, including themselves.
Bolton, in his decision, noted this distinction.

State prosecutors countered by citing the Voter Protection Act. This constitutional provision states that once a measure is approved by the ballot box, it cannot be repealed by the Legislative Assembly, but must instead be returned to voters.
Bolton was skeptical.

“The ‘near-permanence’ of an initiative once passed is more a legal outcome than a compelling government interest in justifying the method chosen (by the state) to induce compliance with subpoenas,” wrote the judge.

Still, none of that was enough for Bolton to grant a motion to bar the state from enforcing the law in the 2020 election.

The challengers appealed his refusal to enjoin the law. But that case won’t be heard until April.

Bolton is not the only judge who has refused to strike down the law. The Arizona Supreme Court reached a similar conclusion in 2018.

“The Act represents a reasonable means to promote transparency, facilitate the judicial fact-finding process, including adherence to valid mandatory process, and mitigate the threat or fraud or other wrongdoing infecting the initiative process,” Judge John Lopez wrote for the court. “This furthers the constitutional purpose of the initiative process by ensuring the integrity of signature collection through reasonable means.”

Voters can still weigh in on the topic of interest limits – but in a whole different way.

A ballot measure pushed by the National Credit Alliance would overturn virtually all laws that currently limit annual interest charges to 36%. Sean Noble, the group’s campaign manager, called it “a stand against socialism.”

As a constitutional amendment, it needs 356,467 valid signatures on the petition by July 2 to qualify for the November ballot.

Arizona effort to restrict automatic securities lending not on November ballot

Activists who had hoped to offer Arizona voters controversial auto title loans in this fall’s election say they are abandoning the effort for now, citing a lack of money and time.

Community groups including Arizonans for Fair Loan had tried to obtain more than 240,000 valid signatures to qualify the measure for the November ballot.

Support for the proposal, which would have curbed some high-interest consumer loans, is overwhelming and crosses political party lines, but the effort announced last July will be put on hold, said Kelly Griffith, executive director of the Center for Economic Integrity, a Tucson group that is part of the coalition.

“We’re running out of time and money” for this year’s poll, she said, adding it’s too early to know when the effort might be revived.

How Auto Title Loans Work

Auto-title loans have high interest rates that critics say trap borrowers in a cycle of debt. “These loans are not life jackets but anchors that will drag you down,” Griffith said.

The effort to curb auto loans comes 12 years after Arizonans defeated Proposition 200, which would have extended payday loans indefinitely. Enabling legislation expired two years later, ending payday loans here.

Auto-title loans allow vehicle owners to borrow against the equity in their cars and trucks, using the titles of their vehicles. Critics say the loans charge annualized interest of up to 204%. The proposed Arizona Fair Lending Act would not have banned lending, but instead would have capped interest at 36% annualized while banning lump sum payments and restricting other practices.

“We thought we had taken care of (predatory lending) in 2008,” State Sen. Lela Alston, a Democrat from Phoenix, said at a kickoff rally for the title signature-raising initiative. automatic last July.

Broad coalition

Groups supporting the signature-gathering campaign at its inception last year included the Military Officers Association, the Teamsters, Living United for Change in Arizona (or LUCHA), the St. Vincent de Paul Society of Tucson, the Center for Responsible Lending, the Southwest Fair Housing Council and NAACP.

In July, the groups predicted they would need to collect nearly 240,000 valid signatures by July this year to qualify the measure for the ballot. But the actual total would have been much higher because many of those signings could have been challenged in court and some rejected, Griffith said.

Griffith said she didn’t know how many signatures had been collected, but the effort was intended to require many more paid staff to meet the deadline, likely doubling or tripling the expense.

“In the next effort, we’ll have enough money to see it through,” she said.

Contact the reporter at [email protected] or 602-444-8616.