HDFC, Chola Finance to CreditAccess Grameen, Here is what HSBC prefers in diversified financial services sector

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HSBC says new business is gradually recovering with fresh disbursals across segments touching 50-70% of pre Covid-19 levels. They say now the key focus is likely to shift on post moratorium collection efficiencies, they expect most players will continue to increase their provisions. Within the NBFC space, HSBCs preferred picks are HDFC Ltd, Chola Finance and CreditAccess Grameen.

Retail loans witnessing a gradual recovery:

As the economy is gradually opening up post the pandemic, HSBC observes a gradual uptick in retail loan demand. Segments such as two-wheelers, passenger cars, and individual home loans continue to witness healthy demand improvement on a MoM basis. Within other auto loan segments, tractors, light commercial vehicles (LCVs) and used vehicles are also witnessing improved demand. Meanwhile, momentum in the heavy commercial vehicles (HCV) and construction equipment (CE) segment remains slow. Demand in the microfinance segment is not as big

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AI in Finance 2020: Applications & Benefits in Financial Services

  • Artificial intelligence (AI) is revolutionizing how consumers and companies alike access and manager their finances.
  • And with the aggregate potential cost savings for banks from AI applications estimated at $447 billion by 2023, banks are finding new ways to incorporate the tech into their services. 

Artificial intelligence (AI) in finance encompasses everything from chatbot assistants to fraud detection and task automation. Most banks (80%) are highly aware of the potential benefits presented by AI, according to Insider Intelligence’s AI in Banking report. 

The decision for financial institutions (FIs) to adopt AI will be accelerated by technological advancement, increased user acceptance, and shifting regulatory frameworks. Banks using AI can vastly improve the customer experience by offering 24/7 access to their accounts and financial advice services. 

Applications of AI in Financial Services

With key business benefits and pressure from tech savvy consumers top of mind, AI is being implemented by FIs across

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Fortegra Financial Corporation Announces Launch of E&S Insurance Subsidiary

Press release content from Business Wire. The AP news staff was not involved in its creation.


Fortegra Financial Corporation (“Fortegra”), a leading specialty insurer and subsidiary of Tiptree Inc. (NASDAQ: TIPT) (“Tiptree”), announced today the formation of a new excess and surplus lines subsidiary, Fortegra Specialty Insurance Company.

Now that it has received approval in its domicile state of Arizona, Fortegra’s new E&S subsidiary is working to obtain the remaining regulatory approvals necessary to conduct business throughout the United States. Fortegra anticipates that underwriting within the E&S company will commence in the fourth quarter of 2020.

Richard Kahlbaugh, CEO of Fortegra, commented: “We have seen rates harden in the market. The catalysts for the hardening are diverse and as such we expect the trend to continue for the foreseeable future. Adding an excess and surplus lines company to our portfolio was

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Engineering giant Fluor records $1.7 billion loss for 2019 in delayed financial filing

Irving-based engineering firm Fluor Corp. lost $1.7 billion in 2019, according to financial filings disclosed Friday and delayed for months by internal and regulatory reviews.

a train on the tracks in a city: A joint venture between Fluor and Balfour Beatty rebuilt the northbound Interstate 35E bridge leading to downtown Dallas, a part of the massive Dallas Horseshoe Project.

© Tom Fox/Staff Photographer/The Dallas Morning News/TNS
A joint venture between Fluor and Balfour Beatty rebuilt the northbound Interstate 35E bridge leading to downtown Dallas, a part of the massive Dallas Horseshoe Project.

The full-year loss and write-downs reported by Fluor were “far worse” than expected, according to Bloomberg Intelligence analysts. The company reported a $9 million profit in 2018.


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Fluor closed out 2019 with $14.3 billion in revenue, down from $15.2 billion the year before.

The company halted its financial filings earlier this year when the U.S. Securities and Exchange Commission sought records about charges it recorded in 2019 on a fixed-price Army ammunition plant project in Radford, Va. In May, the Justice Department subpoenaed the company for additional information.

After the

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American Financial Group, Inc. Management to Participate in the 2020 Keefe, Bruyette & Woods Virtual Insurance Conference

American Financial Group, Inc. (NYSE: AFG) announced today that Carl H. Lindner III and S. Craig Lindner, Co-Chief Executive Officers, and Brian S. Hertzman, Senior Vice President & Chief Financial Officer, will participate in the 2020 Keefe, Bruyette & Woods Virtual Insurance Conference on Wednesday, September 9, 2020.

While there will be no Company presentation, AFG will host several investor meetings in this virtual setting. The investor material to be used in the meetings will be posted via a link under Events on the Investor Relations page of AFG’s website,, just prior to the conference.

About American Financial Group, Inc.

American Financial Group is an insurance holding company, based in Cincinnati, Ohio with assets of approximately $70 billion as of June 30, 2020. Through the operations of Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in

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How The Financial Services Industry Can Cater To The Next Generation Of Wealth

David Allison is a bestselling author, international speaker and the Founder of the Valuegraphics Database.

Within the next 25 years, we will see the largest wealth transfer in history as baby boomers pass an estimated $68 trillion down to the next generation. Anyone interested in reaching these next-generation high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) must learn to deliver on their values, wants, needs and expectations, which could be different from their parents. But are they? 

The financial services industry looks at this group — which I’ve dubbed The Inheritors — and sees nothing but questions. Thankfully, we can reach them.

My company surveyed 1,850 HNWI and UHNWI who will inherit from $10 million to over $100 million. We wanted to learn what these individuals truly cared about, and as we dug into the results, four distinct groups emerged:

1. The Masters Of The Universe

2. The Loyal

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OneMain Financial personal loan review: No minimum credit score

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

OneMain Financial’s personal loans are a good option for personal loan borrowers who have a low credit score. 

Personal loans are known for being relatively selective, as there’s often no collateral like a car or house that could help the bank recoup their money. Generally, lenders require a good or better credit score to consider applications for personal loans. 

OneMain Financial doesn’t list an official minimum credit score, and could help you get approved for a personal loan. However, getting approved doesn’t mean it will be cheap to borrow — OneMain’s personal loans have high starting interest rates. Anyone with a good or better credit score could likely get a

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Business and Financial News : NPR

Business and Financial News : NPR

Business and Financial News Find the latest business news with reports on Wall Street, interest rates, banking, companies, and U.S. and world financial markets. Subscribe to the Business Story of the Day podcast.

Spencer Platt/Getty Images

Businesses need employees to feel safe returning to offices, but plans to track their movements are raising

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Business Plan, Business Planning, Strategic Planning, Venture Strategies, Working Capital, Cash Flow, Business Ideas, Financial Projections, Cash Flow Planning, Business Strategy, Strategic Planners, Strategic Plans, Mission Statements, New Ventures


  • Getting New Business Ideas: Considering
    strengths and weaknesses, getting and assessing ideas, and next
  • Devising Business Plan Strategies:
    Success and failure, existing strategies and future SWOTs, strategic
    combinations and statements, and next steps.
  • Developing a Strategic Business Plan: Key
    steps, hindsight plus cause & effect, SWOTs and planning
  • How to Write a Business Plan: Importance
    of strategy, preparatory work, planning to plan, outline of a
    business plan, and tips when writing.
  • Insights into a Business Plan:
    Scope of survey, overview of findings, lessons learnt, and detailed
    results and conclusions.
  • Preparing Financial Projections:
    Financial modeling with a computer, how models work, planning
    to plan, and tips & traps.
  • Making Cashflow Forecasts: Importance
    of cash, cash flow vs. profit, calculating cash flows, planning
    and the pitfalls, and improving cash
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