An experienced international banker, Julio M. Herrera Velutini leverages years of experience to serve as chairman of a prominent Puerto Rico-based financial entity. Through his company, Julio Herrera Velutini strives to provide better financing and crediting options to Latin American communities by promoting microfinance. As its name suggests, microfinance involves the allotment of small-scale loans. Most of these “microloans” do not award more than a few hundred dollars at a time. Most commonly, microfinance entities conduct most of their work within developing nations whose residents often need basic monetary assistance. Typically, microfinance caters to two main groups: individuals and small business owners. For those who are unemployed or otherwise make insufficient funds for living expenses, these services provide them with a means of turning their lives around financially. These individuals can use their microloans for everything from groceries to housing. Otherwise, microfinance entities commonly work with small business owners that lack the necessary capital to obtain loans from their banking institutions. With this funding, these entrepreneurs are better equipped to invest much-needed funding into their businesses. In all cases, microloans come with interest rates comparable to those of traditional loans. They are also similar to standard loans in that their loan terms obligate recipients to make repayments on a set schedule.
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Hailing from a family with more than a century of banking experience, Julio M. Herrera Velutini heads one of Venezuela’s largest banks. To achieve success in his work, Julio Herrera Velutini must stay current with banking trends, such as the increasing shift toward mobile banking. Mobile banking offers several benefits to consumers, including: 1. Multiple access points. Via mobile banking, consumers can access their account details in a number of ways, including texts, Internet browsers, and mobile applications. As such, mobile banking offers a dynamic approach to account access that allows consumers to access information in their preferred manner. 2. Paperless banking. Environmentally conscious consumers often support mobile banking since it allows them to access statements and important information without the need for paper documentation. 3. 24-hour access. Prior to the introduction of Internet and mobile banking, consumers could access banking services only during business hours. Mobile banking offers further benefits over desktop-based Internet banking because mobile banking allows account access no matter where the consumer is. |
AuthorMr. Velutini has experience with both established banks and young banks. S Archives
December 2017
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