Financial Services (105)
From Facebook like to interest rate hike
Fidor Bank from Munich promises their customers they will increase their interest rate depending on the amount of likes they get on their Facebook page. The rate will go up by 0.1% for every thousand fans, though the maximum increase is set at 1.5 per cent in 2012.
Why it matters
The bank is seeking to gain attention, especially from potential new customers via social networks. But apart from this, is this a good way of getting a real return on investment for both customers and the bank?
Microcredit is the extension of very small loans (microloans) exclusively for women in poverty, with the goal of helping them cultivate business skills and entrepreneurship. Microcredit is a part of microfinace, which provides a wide range of financial services to the very poor.
Microcredit company Fair Finance in the UK is the first in Europe to secure financing from commercial banks to expand its business model. credit and payment solutions for exporting companies, limiting the risks of business abroad, helping the country to reduce its deficit. But will this campaign be enough to restore the public confidence in financial institutions and banks - widely perceived as being accountable for the crisis?