one network bank ( commonly known as onb ) is the largest rural bank in the philippines based in davao city .

established in 2004 through the consolidation of network rural bank of davao del sur , the rural bank of panabo of davao del norte and the provident rural bank of cotabato , onb is the largest rural bank in the philippines in terms of assets , with a network of 96 branches in mindanao , 1 branch in makati city and province of iloilo ( including iloilo city ) and a fleet of 135 atms throughout the provinces of mindanao , including seventeen localities where it is the sole provider of financial services .

it is the first rural bank in the philippines to receive the nod of the philippine clearing house corporation ( pchc ) to establish a checking account , as well as to have its cheques cleared directly by the pchc , instead of an intermediary bank .

it is also an equity member of megalink ( now a bancnet member ) , one of the first banks in mindanao to join an interbank network .

in december 2014 , the bank was acquired by banco de oro .

july 2015 : banco de oro has completed the takeover of the largest rural bank in the philippines . .

one network bank

one network bank , inc . ( a rural bank ) is a consolidation of three ( 3 ) of the most profitable rural banks in the country namely : rural bank of panabo , network rural bank ( davao ) and provident rural bank of cotabato .
on the first day of consolidated operations in april 2004 , one network bank , became the country ' s largest rural bank in terms of resources , net capital , net income and branch network .
davao city - - one network bank is expanding in five towns in western visayas after merging with the iloilo city - based rural bank of san enrique .
apart from the consunji family ' s onb , bdo has also acquired ge money bank and amex savings bank philippines , the rural bank of san juan , the trust business of deutsche bank of the philippines , and citi savings bank .
onb went through the consolidation of 3 of the most profitable rural banks in the country : rural bank of panabo , the consunji - led network rural bank ( davao ) , and provident rural bank of cotabato in 1996 .
one network bank ( onb ) ownership structure company information and history onb is the largest rural bank in the philippines . established in 2004 through the consolidation of network rural bank , the banks are located at davao city , davao del sur and davao del norte , based on their main bank offices and th provident rural bank of cotabato , onb is the largest rural bank in the philippines in terms of assets , with a network of 96 branches in mindanao , 1 branch in makati city and province of ilo - ilo ( including ilo - ilo city ) and a fleet of 1 atms throughout the provinces of mindanao , including seventeen localities where it is the sole provider of financial services .
bdo was originally known as acme savings bank before it was acquired by the sm group in 1976 . in may 2007 , bdo merged with equitable pci bank to form the country’s biggest bank .
three of the countrys top microfinance institutions ( mfis ) , the network rural bank ( nrb ) , rural bank of panabo ( rbp ) and provident rural bank ( prb ) , are consolidating to form one network rural bank , a consolidated countryside bank that intends to bring its own brand of professional , personalized service to mindanao communities . with nrb , rbp and prb occupying the second , fourth and eighth slots , respectively , in terms of net income last year , this move is intended to maximize existing strengths and provide opportunities for strategic expansion across mindanao . the most immediate benefactors will be the consolidating banks client base through increased bank stability , wider availability of branches and improved customer service and support systems . new clients can expect commercial bank quality service with a countryside banks personal touch . this consolidation is in line with the bangko sentral ng pilipinas drive to streamline and strengthen the banking sector by encouraging mergers and consolidations among financial institutions . the formation of one network bank is already underway with approval of the consolidation from the philippine deposit insurance co . ( pdic ) dated last july 18 , 2003 . according to the consolidation plan , one network rural bank will be fully consolidated before the end of 2003 and mindanao rural folk and can enjoy the benefits of a larger and stronger banking institution with the same homegrown , friendly service .
the years prior to consolidation in 2004 , the three banks existed as separate entities but operated as a group in terms of sharing common central office systems and policies . after eight ( 8 ) years of a
long engagement
,
co - existing as 3 banks , 1 system
, the three banks decided to
tie the knot
and operate as one bank , now called one network bank .
the bank has acquired 99 . 59 % of the outstanding capital stock of davao city - based one network bank incorporated ( onb ) through the completion of a share swap transaction on wednesday , july 21 , bdo corporate information officer elmer serrano said in a disclosure to the stock exchange . ( read : bdo eyes mindanao expansion through onb buyout )
the next bitcoin is here and its called smartcash , instant payment pos payment network , smartnodes . . .
the names of both a credit card’s issuer and its network are listed on the front of the card . the only exceptions are store credit cards , which don’t belong to a card network and can only be used at the retailers they’re affiliated with .
gertjan vlieghe – external voting member of the mpc – was previously viewed as one of the bank’s most dovish policymakers , but went on to say that he may back a hike “as early as the coming months” .
manila , philippines – bdo unibank incorporated has completed the takeover of the largest rural bank in the philippines .
bank of america is one of the biggest financial institutions in the world , not to mention one of the largest companies overall . headquartered in charlotte , nc , the banking behemoth now has roughly 209 , 000 full - time employees and does $ 80 + billion in annual revenue . in addition to its credit card operation , bank of america offers deposit accounts , investment vehicles , and financial management services to consumers . the company also has corporate and investment banking divisions .
it ' s a comparison no one wants to hear — that this stock market bears striking similarities to that of 1929 .
ida , the world bank’s fund for the poorest , contributes nearly 50 % of its funds to 39 african countries .
chase credit cards are issued by jpmorgan chase & co . – the largest bank in the u . s . by total deposits . chase bank was an independent entity – chase manhattan bank – until its 2000 merger with commercial and investment banking giant jpmorgan . jp morgan chase now employs more than 260 , 000 people and does business in 100 + countries .
citibank is the consumer banking division of the financial services company citigroup . it was founded in 1812 as the city bank of new york . and as of 2017 , it was the fourth largest u . s . bank by total deposits .
the bank of england is on track to raise interest rates twice over the next year , according to research by hsbc .
capital one has made a name for itself in the credit card market with offers for people of all credit levels , simple rewards programs and reasonable fees . the company’s venture rewards card has long been regarded as one of the best travel rewards cards on the market . its quicksilver card is one of the best everyday cash rewards cards . and the spark cash cards are among the top offers available to small business owners . capital one also was the first credit card issuer to remove foreign transaction fees from all of its cards .
comdata helps our clients build world - class payment programs by leveraging our unique capabilities as a credit card issuer , technology developer , transaction processor and payment network owner .
watch , listen and click through the latest videos , podcasts and slideshows highlighting the world bank’s work in sub - saharan africa .
regulatory round - up : u . k . chief blockchain officer , dlt cohort in fca sandbox , central bank calls crypto ”fallacy”
u . s . bank is the country’s 5th biggest bank in terms of total assets , the 4th biggest if you go by number of branches , and the 6th largest credit card issuer based on purchase volume . when it comes to credit cards , u . s . bank is known for rewards . the company offers a number of co - branded credit cards with corporate partners like kroger , club carlson , ace , and harley - davidson . u . s . bank rewards cards are also offered under the company’s flexperks brand name .
the world bank is helping to fight poverty and improve living standards in ethiopia . goals include promoting rapid economic growth and improving service delivery .
gina sanchez of chantico global says a north korean attack , should one occur , isn ' t likely to cause significant long - term market impact .
tcp / ip turned that model on its head . the new protocol transmitted information by digitizing it and breaking it up into very small packets , each including address information . once released into the network , the packets could take any route to the recipient . smart sending and receiving nodes at the network’s edges could disassemble and reassemble the packets and interpret the encoded data . there was no need for dedicated private lines or massive infrastructure . tcp / ip created an open , shared public network without any central authority or party responsible for its maintenance and improvement .
onb centerlocated along km . 9 , sasa , davao city was constructed by dmci , recognized as the prime
builder of landmarks
in the country and a pioneer of advanced engineering technology application in philippine construction . the building is rendered in a modern design and places a premium on efficient energy use . as a primary undertaking towards streamlining the bank ' s branch support system and increasing back office efficiency , the onb center is a dedicated space for backstopping all of one network bank ' s branch and offsite operations . it substantially enhances the workspace of the head office units of the bank with its spacious , comfortable and multi - functional features complete with state - of - the - art training facilities and a roofdeck with a chapel , a fitness gym and a basketball / badminton court .
idbi bank ltd . , incorporated in the year 1994 , is a banking company ( having a market cap of rs 20404 . 20 crore ) .
bdo president and ceo nestor tan earlier said the acquisition offers access to mindanao and visayas that are not yet fully penetrated by the sm group’s universal bank .
talking about finances can be overwhelming , so our advisors are here to help simplify the conversation . here & apos ; s what else you can expect when you work with one :
this translated to an exchange of . 2618 bdo share per one onb share . shares of bdo tuesday gained 1 . 45 % to p105 ( $ 2 . 32 ) per share .
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but despite investor excitement over the prospect of a pending interest rates hike , hsbc said the move could ultimately be “premature” , forcing the bank to backtrack and cut rates once again .
the launch of the expressway development support project ( edsp ) marked a historic moment in the wbg’s partnership with ethiopia , as it is the first project co - financed with china exim bank and south korea exim bank . the project brings together traditional and non - traditional development partners to work on a single project , with standardized design , safeguards , and joint - supervision .
bank of america was founded in san francisco in 1904 . but it actually started out as bank of italy , in an attempt to serve the needs of america’s growing immigrant population . it was renamed in 1930 , and the company’s continued expansion eventually led to the first ever general - use credit card , known as the bankamericard . that product later became the basis for visa .
the ultimate success of bitcoin , hyperbitcoinization , contains the possibility of a purposeful and bright future . inevitable mass adoption will lead to a globally dominant currency . pushing all other competitors out means , ultimately , mooning prices . at least one theorist believes the above will happen , and further postulates one hundred million dollars per bitcoin could be in the works as early as 2030 . also read : 27 % . . .
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indian police are reportedly facing a challenge of how to liquidate cryptocurrencies they seized since the country ' s central bank , the reserve bank of india ( rbi ) , has banned banks from providing services to crypto exchanges . the rbi ban is now in effect and a growing number of crypto exchanges have already announced they will no longer allow withdrawals from cryptocurrencies into rupees . also read : yahoo ! japan confirms . . .
capital one is the 5th largest u . s . credit card company in terms of outstanding balances and purchase volume . the company was established in 1995 and is based in mclean , va . it has roughly 1 , 000 branch locations in the district of columbia , louisiana , maryland , new york , new jersey , texas and virginia . in addition to credit cards , capital one is known for everyday banking products , personal loans and auto loans .
you & apos ; ll get a personalized plan that balances your current , and future , priorities . it puts all the pieces of your financial life in one place , helping you make the best decisions now and down the road .
the world bank group works in every major area of development . we provide a wide array of financial products and technical assistance , and we help countries share and apply innovative knowledge and solutions to the challenges they face .
wells fargo was founded in 1852 to meet the banking needs of pioneers during the california gold rush . that’s not the only fun fact about the bank , either . wells fargo actually holds the first ever banking charter issued by the united states government , assuming it through the company’s 2008 acquisition of wachovia . as of 2017 , wells fargo was the 2nd largest bank in the u . s . in terms of total assets and total deposits .
ethiopia’s development has been held back by a large infrastructure gap—it has one of the lowest road densities in africa . ida has invested over $ 2 billion since 1991 to address that , partly through the road sector development program ( rsdp ) . ida helped build capacity and establish a dedicated road fund for financing maintenance . working in partnership with other donors , including the european commission , germany , japan , nordic countries and the united kingdom , ida helped increase both the size and quality of ethiopia’s road network from under 20 , 000 km in 1991 to over 100 , 000 km in 2015 . under the cpf , the world bank continues supporting improvements in transport infrastructure and road connectivity to reduce travel times and improve connectivity between markets and secondary cities .
comdata is a leading provider of fleet management and b2b payment solutions . as the largest fuel card provider and second largest commercial issuer of mastercard in north america , we offer one of the most comprehensive suites of payment solutions on the market .
it’s interesting to note that while many of the major issuers known for their rewards target offers almost exclusively to people with above - average credit standing , u . s . bank extends credit to people across the credit spectrum .
the central bank’s monetary policy committee ( mpc ) is now expected to vote for a 25 basis point hike at its november meeting , and again in may 2018 , hsbc’s uk economist liz martins said in a research note .
blockchain—a peer - to - peer network that sits on top of the internet—was introduced in october 2008 as part of a proposal for bitcoin , a virtual currency system that eschewed a central authority for issuing currency , transferring ownership , and confirming transactions . bitcoin is the first application of blockchain technology .
in his first interview since penning an op - ed on sept . 15 in the new york times , the yale university economics professor reiterated to cnbc that there ' s one vital characteristic protecting investors from losing their nest eggs : market psychology .
bank of america has since made numerous acquisitions . this includes its crucial all - stock purchase of merrill lynch at the federal reserve’s urging during the great recession . like many other large financial institutions , bofa has also come under fire for various alleged wrongdoing during the downturn and beyond . but the credit card market is a much safer place these days . and bank of america has actually been a leader in bringing consumer credit card protections to business credit cards .
* tip : most u . s . bank credit cards have their own customer service number . so if you’re looking for information about a particular card , type its name into the search box at the top of the page .
discover is the country’s 7th largest credit card issuer and 4th largest card network , based on purchase volume through 2016 . the company began as a division of the financial services company dean witter and was designed to issue the company’s sears credit card . discover financial services became an independent company in 2007 .
bdo has total assets at p1 . 81 trillion ( $ 39 . 99 billion ) as of 2014 . it has 875 operating domestic branches , one branch in hong kong , and 2 , 591 atms and 61 cash accept machines nationwide . – urltoken
established in 1850 in new york city , american express now operates in more than 130 countries . as of 2016 , amex was the 3rd largest credit card network in the u . s . , based on number of cards in circulation . and it was the largest credit card issuer by purchase volume .
with 189 member countries , staff from more 170 countries , and offices in over 130 locations , the world bank group is a unique global partnership : five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries .
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i don ' t want to encourage people too much to put a lot into the most expensive market in the world ,
said shiller .
the u . s . has the highest cape ratio of 26 countries . we are number one .
in our analysis , history suggests that two dimensions affect how a foundational technology and its business use cases evolve . the first is novelty—the degree to which an application is new to the world . the more novel it is , the more effort will be required to ensure that users understand what problems it solves . the second dimension is complexity , represented by the level of ecosystem coordination involved—the number and diversity of parties that need to work together to produce value with the technology . for example , a social network with just one member is of little use ; a social network is worthwhile only when many of your own connections have signed on to it . other users of the application must be brought on board to generate value for all participants . the same will be true for many blockchain applications . and , as the scale and impact of those applications increase , their adoption will require significant institutional change .
much of the initial private blockchain - based development is taking place in the financial services sector , often within small networks of firms , so the coordination requirements are relatively modest . nasdaq is working with chain . com , one of many blockchain infrastructure providers , to offer technology for processing and validating financial transactions . bank of america , jpmorgan , the new york stock exchange , fidelity investments , and standard chartered are testing blockchain technology as a replacement for paper - based and manual transaction processing in such areas as trade finance , foreign exchange , cross - border settlement , and securities settlement . the bank of canada is testing a digital currency called cad - coin for interbank transfers . we anticipate a proliferation of private blockchains that serve specific purposes for various industries .
while the major credit card networks all perform a similar function , there are some important differences between them . as you can see from the graphic below , there is a clear hierarchy based on the number of retailers and cardholders each has in its portfolio . ( check out wallethub’s statistics center for more card network market share information . )
german bank offers special accounts to cryptocurrency firms . the berlin - based banking - as - a - platform ( baap ) institution solarisbank has recently announced the launch of their new banking service plan that’s focused on clients from the blockchain and digital currency industry… read more .
it’s important to understand which credit card company issued your card as well as which network it’s on . the former will tell you whom to call if you have a question about your account . and the latter will tell you where you can use your card , plus what fraud liability , rental car insurance and extended warranty policies apply to you .
the wbg , with the united nations development programme and one bilateral donor , is one of the rotating co - chairs of the development assistance group ( dag ) , the main forum for donor coordination in ethiopia . through dag there are efforts to make progress on the implementation of commitments in the paris and accra declarations , including joint economic and sector work ( much of the wbg’s major analytical work has already been prepared with its partners ) and joint missions . much of the collective effort is focused on furthering harmonization through a few major multi - donor programs and policy areas of importance .
once a transaction is entered in the database and the accounts are updated , the records cannot be altered , because they’re linked to every transaction record that came before them ( hence the term “chain” ) . various computational algorithms and approaches are deployed to ensure that the recording on the database is permanent , chronologically ordered , and available to all others on the network .
the bank has reported a gross non performing assets ( gross npas ) of rs 55588 . 26 crore ( 27 . 95 % of total assets ) and net non performing assets ( net npas ) of rs 28665 . 14 crore ( 16 . 69 % of total assets ) .
the tricky part is that two of the world’s largest card networks – american express and discover – also issue credit cards . as a result , credit cards on the amex and discover networks are mostly issued by those two companies . a card on the visa or mastercard network could be issued by any other credit card company . visa and mastercard do not issue credit cards .
the second quadrant comprises innovations that are relatively high in novelty but need only a limited number of users to create immediate value , so it’s still relatively easy to promote their adoption . if blockchain follows the path network technologies took in business , we can expect blockchain innovations to build on single - use applications to create local private networks on which multiple organizations are connected through a distributed ledger .
credit card companies are the banks and credit unions that issue credit cards to consumers and small business owners . they also service cardholders’ accounts by billing for purchases , accepting payments , distributing rewards and more . examples of major credit card companies include bank of america , barclays , citibank , chase , capital one and wells fargo . credit card networks play a different role . they dictate where credit cards can be used , facilitate payment processing at the point of sale and administer secondary credit card benefits , such as rental car insurance , travel insurance and extended warranties . the four major card networks are visa , mastercard , american express and discover .
pnc financial services inc . – more commonly known by its ticker symbol , pnc – is the 6th largest u . s . bank in terms of total assets and deposits as well as the 12th largest credit card issuer based on purchase volume . as a regional player with a footprint in 19 states as well as the district of columbia , the pnc brand is strongest east of the mississippi river where the vast majority of its retail bank branches are located . pnc has particularly strong ties to pittsburgh , the home of its corporate headquarters . in fact , pnc park is home to the city’s professional baseball team – the pirates .
idbi bank ltd . key products / revenue segments include interest & discount on advances & bills which contributed rs 19310 . 33 crore to sales value ( 69 . 48 % of total sales ) , income from investment which contributed rs 6574 . 71 crore to sales value ( 23 . 65 % of total sales ) , interest which contributed rs 1449 . 48 crore to sales value ( 5 . 21 % of total sales ) and interest on balances with rbi and other inter - bank funds which contributed rs 456 . 85 crore to sales value ( 1 . 64 % of total sales ) for the year ending 31 - mar - 2017 .
it’s also important to reiterate that american express and discover aren’t just card networks . they’re credit card issuers , too . so if you have a problem with your discover bill , for example , you can contact discover directly . but if you have a problem with your visa bill , you’ll have to contact the card’s issuer – capital one , for instance .
total assets of onb stood at p28 . 1 billion ( $ 620 . 95 million ) while net loans amounted to p19 . 7 billion ( $ 435 . 22 million ) as of end - september 2014 . onb is the biggest rural bank in the country and has 105 branches and micro - banking offices in mindanao and panay .
before jumping into blockchain strategy and investment , let’s reflect on what we know about technology adoption and , in particular , the transformation process typical of other foundational technologies . one of the most relevant examples is distributed computer networking technology , seen in the adoption of tcp / ip ( transmission control protocol / internet protocol ) , which laid the groundwork for the development of the internet .
visa , mastercard , american express and discover are the four major credit card networks . to put it simply , card networks are important because you can only use your credit card at merchants that belong to its network . more specifically , they handle the worldwide processing of credit card transactions , acting as a gateway between consumers , merchants and credit card companies . they also set the terms for those transactions ( e . g . interchange fee & fraud liability ) .
south korea has been busy revising its cryptocurrency regulations . the regulators plan to ease the rules on crypto assets in line with g20 policies . while a new crypto classification system has been created , another government agency is conducting an on - site inspection of crypto exchanges following multiple hacks . in addition , the bank of korea has released a report with its view on using crypto as . . .
bitcoin trading in renminbi ( rmb ) has dropped to less than 1 percent of the global total , the central bank of china announced . the people’s republic banned yuan - crypto trade last year , prompting the exodus of hundreds of chinese crypto businesses , including some of the world’s leading trading platforms . also read : crypto exchange binance expects up to $ 1 billion profit in 2018 ‘zero - risk’ exit for 88 exchanges , . . .
for the quarter ended 31 - 03 - 2018 , the company has reported a standalone interest income of rs 3319 . 87 crore , down - 17 . 94 % from last quarter interest income of rs 4045 . 57 crore and down - 30 . 19 % from last year same quarter interest income of rs 4755 . 68 crore . the bank has reported net profit after tax of rs - 5662 . 76 crore in latest quarter .
five universities across three spanish - speaking countries are now offering crypto courses . among major topics of studies are bitcoin , ethereum , cryptocurrencies , blockchains , initial coin offerings ( icos ) , smart contracts , daos , and crypto - economics . also read : yahoo ! japan confirms entrance into the crypto space universidad de alcalá , spain universidad de alcalá is a public university located in alcalá de henares , madrid . it is a unesco world heritage site and one of the . . .
tcp / ip burst into broad public use with the advent of the world wide web in the mid - 1990s . new technology companies quickly emerged to provide the “plumbing”—the hardware , software , and services needed to connect to the now - public network and exchange information . netscape commercialized browsers , web servers , and other tools and components that aided the development and adoption of internet services and applications . sun drove the development of java , the application - programming language . as information on the web grew exponentially , infoseek , excite , altavista , and yahoo were born to guide users around it .
the cpf is designed to assist ethiopia in forging a more inclusive and sustainable growth path . particularly , it supports a more spatially inclusive approach to development , one that leverages national programs to provide quality services to all areas . the cpf is helping to promote structural and economic transformation through increased productivity in rural and urban areas by focusing on basic education , access to markets , and job opportunities for youth . it is also helping to build resilience and inclusiveness ( including gender equality ) by improving safety nets , investing in productive landscapes , and focusing on the early years agenda .
traditional telecommunications and computing sectors looked on tcp / ip with skepticism . few imagined that robust data , messaging , voice , and video connections could be established on the new architecture or that the associated system could be secure and scale up . but during the late 1980s and 1990s , a growing number of firms , such as sun , next , hewlett - packard , and silicon graphics , used tcp / ip , in part to create localized private networks within organizations . to do so , they developed building blocks and tools that broadened its use beyond e - mail , gradually replacing more - traditional local network technologies and standards . as organizations adopted these building blocks and tools , they saw dramatic gains in productivity .
with blockchain , we can imagine a world in which contracts are embedded in digital code and stored in transparent , shared databases , where they are protected from deletion , tampering , and revision . in this world every agreement , every process , every task , and every payment would have a digital record and signature that could be identified , validated , stored , and shared . intermediaries like lawyers , brokers , and bankers might no longer be necessary . individuals , organizations , machines , and algorithms would freely transact and interact with one another with little friction . this is the immense potential of blockchain .
indeed , virtually everyone has heard the claim that blockchain will revolutionize business and redefine companies and economies . although we share the enthusiasm for its potential , we worry about the hype . it’s not just security issues ( such as the 2014 collapse of one bitcoin exchange and the more recent hacks of others ) that concern us . our experience studying technological innovation tells us that if there’s to be a blockchain revolution , many barriers—technological , governance , organizational , and even societal—will have to fall . it would be a mistake to rush headlong into blockchain innovation without understanding how it is likely to take hold .
ethiopia’s location gives it strategic dominance as a jumping off point in the horn of africa , close to the middle east and its markets . landlocked , it borders eritrea , somalia , kenya , south sudan , and sudan—its tiny neighbor , djibouti , is also its main port . ethiopia’s huge population of about 102 million ( 2016 ) makes it the second most populous nation in africa , after nigeria . although it is the fastest growing economy in the region , it is also one of the poorest , with a per capita income of $ 783 . ethiopia’s government aims to reach lower - middle - income status by 2025 .
we’ve developed a framework that maps innovations against these two contextual dimensions , dividing them into quadrants . ( see the exhibit “how foundational technologies take hold . ” ) each quadrant represents a stage of technology development . identifying which one a blockchain innovation falls into will help executives understand the types of challenges it presents , the level of collaboration and consensus it needs , and the legislative and regulatory efforts it will require . the map will also suggest what kind of processes and infrastructure must be established to facilitate the innovation’s adoption . managers can use it to assess the state of blockchain development in any industry , as well as to evaluate strategic investments in their own blockchain capabilities .
in a blockchain system , the ledger is replicated in a large number of identical databases , each hosted and maintained by an interested party . when changes are entered in one copy , all the other copies are simultaneously updated . so as transactions occur , records of the value and assets exchanged are permanently entered in all ledgers . there is no need for third - party intermediaries to verify or transfer ownership . if a stock transaction took place on a blockchain - based system , it would be settled within seconds , securely and verifiably . ( the infamous hacks that have hit bitcoin exchanges exposed weaknesses not in the blockchain itself but in separate systems linked to parties using the blockchain . )
developing substitute applications requires careful planning , since existing solutions may be difficult to dislodge . one way to go may be to focus on replacements that won’t require end users to change their behavior much but present alternatives to expensive or unattractive solutions . to get traction , substitutes must deliver functionality as good as a traditional solution’s and must be easy for the ecosystem to absorb and adopt . first data’s foray into blockchain - based gift cards is a good example of a well - considered substitute . retailers that offer them to consumers can dramatically lower costs per transaction and enhance security by using blockchain to track the flows of currency within accounts—without relying on external payment processors . these new gift cards even allow transfers of balances and transaction capability between merchants via the common ledger .
a number of operations have supported access to safe water sources and sanitation services , and the better management of water resources , including giving 4 . 2 million rural people an improved water supply ( from 2013 ) . a $ 250 million urban water supply and sanitation project is to increase the sustainable water supply and sanitation services in addis ababa and selected cities , providing 1 million people in urban areas with improved water sources , 2 . 7 million with improved water supply services , and 200 , 000 with sanitation services . a follow - on $ 445 million ida credit was approved in march 2017 . under its cpf , the world bank continues to support goe’s goal of providing 100 % national potable water supply coverage by 2020 .
one of the most ambitious substitute blockchain applications is stellar , a nonprofit that aims to bring affordable financial services , including banking , micropayments , and remittances , to people who’ve never had access to them . stellar offers its own virtual currency , lumens , and also allows users to retain on its system a range of assets , including other currencies , telephone minutes , and data credits . stellar initially focused on africa , particularly nigeria , the largest economy there . it has seen significant adoption among its target population and proved its cost - effectiveness . but its future is by no means certain , because the ecosystem coordination challenges are high . although grassroots adoption has demonstrated the viability of stellar , to become a banking standard , it will need to influence government policy and persuade central banks and large organizations to use it . that could take years of concerted effort .
for most , the easiest place to start is single - use applications , which minimize risk because they aren’t new and involve little coordination with third parties . one strategy is to add bitcoin as a payment mechanism . the infrastructure and market for bitcoin are already well developed , and adopting the virtual currency will force a variety of functions , including it , finance , accounting , sales , and marketing , to build blockchain capabilities . another low - risk approach is to use blockchain internally as a database for applications like managing physical and digital assets , recording internal transactions , and verifying identities . this may be an especially useful solution for companies struggling to reconcile multiple internal databases . testing out single - use applications will help organizations develop the skills they need for more - advanced applications . and thanks to the emergence of cloud - based blockchain services from both start - ups and large platforms like amazon and microsoft , experimentation is getting easier all the time .
northwestern mutual is the marketing name for the northwestern mutual life insurance company and its subsidiaries . life and disability insurance , annuities , and life insurance with long - term care benefits are issued by the northwestern mutual life insurance company , milwaukee , wi ( nm ) . long - term care insurance is issued by northwestern long term care insurance company , milwaukee , wi , ( nltc ) a subsidiary of nm . securities are offered through northwestern mutual investment services , llc , ( nmis ) a subsidiary of nm , broker - dealer , registered investment adviser , member finra and sipc . fiduciary and fee - based financial planning services are offered through northwestern mutual wealth management company® ( nmwmc ) , milwaukee , wi , a subsidiary of nm and a federal savings bank . products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors . not all products and services are available in all states . not all northwestern mutual representatives are advisors . only those representatives with the titles
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below , you will find scouting reports for the largest and most popular credit card issuers and card networks . this includes contact information , plus a breakdown of their performance in various wallethub studies and reports . you can also learn more about the different roles that credit card issuers and networks play . we’ll even give you a sneak peek at the best major credit cards on the market right now .
credit cards are usually issued by banks and credit unions . they give these financial institutions a fairly steady source of revenue from account fees , interest charges and payment processing fees charged to merchants . the transactional nature of credit cards also gives issuers a chance to establish relationships with consumers . and that allows them to upsell cardholders to other products and services .
the heart of a credit card company is its underwriting team . underwriters evaluate applicants’ credit history , income and debt load to determine whether their risk and profit potential merit account approval . the terms a credit card company offers to customers and its ability to turn a profit depend on how sophisticated its underwriting is and how well it can avoid uncollectible debt . basically , if a credit card company approves people who pay their bills , it can better afford to reward them .
the following chart will show you which companies are the biggest players in the credit card game . you can also check out wallethub’s statistics center for a more detailed look at the credit card landscape .
note : nilson report and federal reserve data on outstanding credit card balances , as of dec . 31 , 2016 .
if you aren’t sure which company issued your credit card , check the plastic . the issuer’s name typically appears in big fancy lettering in the top right or left corner of the card’s front . you ' ll also find it at the bottom of the card ' s back ( see below ) .
this won’t necessarily be the case with store credit cards or co - branded cards , however . the name of the retailer or organization they’re associated with tends to be displayed most prominently . the issuer’s name will be on the card somewhere . but it may be more difficult to locate than with a normal credit card .
if you’re not sure which credit card company is right for you , or you’re looking for your credit card company’s phone number , check out wallethub’s scouting reports of the major issuers below .
american express also is known as the world’s largest issuer of charge cards and for targeting its products to high - income individuals with strong credit scores . as a result , amex is a great source of lucrative rewards credit cards but is not heavily involved in the credit improvement space . it is interesting to note , however , that amex has in recent years partnered with walmart to offer the bluebird prepaid card . this is the company’s first foray into the growing prepaid card market and appears to be an attempt to expand its consumer reach .
barclays launched the first uk credit card program in 1966 . and it moved into the u . s . market in 2004 , with the purchase of juniper financial corporation . the company’s u . s . credit card division operated under the brand name “barclaycard us” until 2008 , when it took its parent’s name .
barclays is best known for its travel rewards credit cards as well as its suite of co - branded credit cards , issued in partnership with popular brands such as u . s . airways , l . l . bean , and the national football league . barclays credit cards typically require good or excellent credit for approval .
chase is known for offering a wide range of credit cards , from its popular freedom rewards cards to the free balance transfer card , slate . chase’s sapphire preferred and sapphire reserve cards also provide two of the most lucrative initial rewards bonuses on the market . and it offers co - branded cards in partnership with the likes of british airways , united airlines and southwest airlines . as you might expect based on the types of offers in its portfolio , chase’s credit cards are mainly for people with above - average credit .
* tip : most citicards have their own customer service number . so if you’re looking for information about a particular card , type its name into the search box at the top of the page .
citibank targets the majority of its credit card offers to people with above - average credit standing . the company is known for offering cards with extended 0 % introductory periods as well as a broad selection of rewards . citi has two well - known rewards programs – thankyou and double cash – in addition to co - branded partnerships with american airlines and expedia .
discover is known for offering cash rewards and was , in fact , the pioneer of the first cash back program . but the company now has a wide range of credit card offers , even though many of them have very similar names . several different cards use the “discover it” brand , offering 0 % intro aprs , various types of rewards , and special perks such as a first - year rewards match . discover also issues co - branded cards in partnership with a number of retailers and major universities . none of discover’s credit cards charge foreign transaction fees .
nevertheless , pnc is a full - service credit card issuer with offers ranging from secured credit cards for people with bad credit to rewards cards for small business owners . the majority of pnc’s credit cards , however , target people with stellar credit who are interested in earning rewards . it’s also interesting to note that roughly 40 % of the company’s credit card offers are branded for small business use .
usaa – the united states automobile association – is a full - service financial institution that offers credit cards , banking products , insurance , and investment services to members of the military and their families . usaa is the 11th largest credit card issuer in the u . s . by purchase volume and outstanding balances , as of 2016 .
wells fargo’s reach into the credit card market isn’t quite as extensive as its presence in the everyday banking space , however . it is the 8th largest credit card issuer in the u . s . nevertheless , wells fargo targets offers to people across the credit spectrum – from credit building credit cards to rewards credit cards to business credit cards .
now that you’re familiar with the credit card industries biggest players , it’s time to get to know some of their most popular products . below , you can find a comparison of some of these major credit cards that are definitely worth looking into .
note : 2016 data on u . s . credit card purchase volume , from the networks’ sec filings .
visa , mastercard , discover and american express also differ in terms of where they can be used – both in the u . s . and abroad . the benefits they provide have earned varying grades in wallethub’s research , too .
source : feb . 2017 nilson report , card networks’ websites and wallethub research .
now that you’re familiar with the credit card industry’s biggest players , it’s time to get to know some of their most popular products . below , you can find a comparison of some major credit cards that are definitely worth considering .
disclaimer : editorial and user - generated content is not provided or commissioned by financial institutions . opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution , including those that are wallethub advertising partners . our content is intended for informational purposes only , and we encourage everyone to respect our content guidelines . please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered .
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