A core banking system is a back-end financial system that processes financial transactions within an institution. It mainly includes deposits, credit processing and loans.
This system allows customers to make and monitor their transactions with ease without time or locational limitation — this is as explained in its acronym CORE — meaning Centralized Online Real-time Environment. So no worries about closing hours, queues or going all the way to an institution’s physical location. How great is that!
A key part of personal financial management is having a comprehensive financial statement. It is useful in tracking your goals and keeping a keen eye on your wealth’s growth. In order to do so successfully, you need to be able to distinguish between assets and liabilities which are part of the main breakdowns in a financial statement. These statements are useful when applying for a loan or a mortgage as they determine your eligibility.
Asset- This is something that you own and have control over. It may generate income at the moment or have a future economic benefit i.e. …
Managing your finances simply means understanding your financial situation and taking stock of things in order to plan for a rainy day. In short, watch your spending and save what you can.
To understand Personal Financial Management (PFM), you need to first know in depth the five main areas of it i.e. Income, Spending, Saving, Investing and Protection.
Income — This is the cash inflow of an individual and mainly stems from common sources such as salaries, dividends and bonuses. It is through income that you are able to spend, save and invest.
Spending — This is what you incur…
Changes in technology — such as an increase in the development of social media apps and the availability of mobile money transfer — has led to many micro, small and medium enterprises embracing e-commerce. The fact that people can comfortably shop for goods and have them delivered at their doorsteps has seen a huge improvement in business for these enterprises. This has in turn led to a growth in the number of courier service providers in Kenya.
When running an online business, getting a delivery right is a priority. Most applications allow for rating of services in order to monitor…