America's Top Banks & What Makes Them Tick

Goldman Sacks bank is a US investment bank with its headquarters in New York city. The bank specializes in offering various financial solutions such as investment management, client services, investments, and lending services. It has over 34000 employees to ensure the customers' needs are catered for.

The bank's success- it has over $.5.2 billion in net income- results from its ability to innovate and develop solutions to serve the customers better. What makes it tick? The institution has a friendly and welcoming staff as well as a people-oriented approach to business.

JP Morgan Chase & co

JP Morgan Chase is one of the most profitable banking institutions in the United States, with over $21 billion in net profits annually. It offers banking solutions in sectors such as private banking, assets management, and investment banking. The customers are guaranteed to experience quality banking services due to this diversity. Indeed, with over 240,000 branches worldwide, the customers are guaranteed to have the best in a secure environment.

Morgan Stanley Bank

With its annual profits surpasing $8.8 billion, Morgan Stanley bank is an industry giant, especially within the Wall Street corridors. The bank offers services in investment securities, mergers and acquisitions, real estate, and wealth management. The bank has an array of service offerings; this is is one of its best success secrets-. It employs aover 56,000 workers who cater to the customer's wealth management and investment banking needs.

Citigroup Bank

With over 2,500 branches spread out in 19 countries, Citigroup bank is a state-of-the-art pioneer in modern banking. The institution offers services mainly in the investments sector and digital banking. In 2020, it was named the best digital bank ( according to Global magazine) for the 19th consecutive year. This shows how consistent the bank is in serving customers.

Wells Fargo Company

Wells Fargo specializes in community banking, wealth management, investment banking, and small businesses. With a net income of over $10 billion, Wells Fargo has emerged as a force to reckon with in the banking industry. Its focus on small retail businesses and community banking has enabled it to scale the heights of success. Its diversified portfolio of services allows customers to get the best services in the sector.

Bank of America Corp

If you want a lender whose rates are the best, then Bank of America Corp is the place to be. The bank's headquarters is in Charlotte, North Carolina. It has other subsidiaries across the United States to cater to customer's needs. Its success comes from banking and non-banking services, wealth management and investment banking.

US Bancorp

Standing tall at its headquarters in Minneapolis, US, Bancorp bank employs over 60,000 people to ensure the best services in its numerous branches and subsidiaries around the country. The bank offers services such as mortgage banking, insurance, credit card services, and ATM processing. With annual net profits of over $6 billion, the bank can attribute its success to expansion into the consumer retail banking space in multiple locations.

Capital One Financial Corp

Capital One Financial Bank mainly offers services such as consumer banking, commercial banking, credit card services, and digital banking. With headquarters countrywide, Capital one bank has steadily recorded high profits of up to $3.7 billion. Its extensive banking services portfolio has made it possible to offer various services to ensure the customers get the best services.

PNC Bank

PNC Bank has over 2,000 branches in over 15 states in the United States, and the signs indicate it will continue expanding phenomenally. Based in Pittsburg, PNC bank was formed by merging Pittsburg National Corporation and Providence National Corporation. Its success primarily rsulted from being innovative in technology. Indeed, this was among the the earliest banks to integrat the E-Wallet seamlessly into their operations.

Bank of New York Mellon

The bank of New York Mellon recorded a net income of $3.6 billion in 2020, and this shows how much success the bank has since achieved. Today, the Bank of New York Mellon is among the most significant asset management banks worldwide. The financial institution is managing assets valued at close to $1 billion. In addition to asset management, the bank also provides investment banking solutions, wealth management, and collateral management services.

How the Cryptocurrency Era is Radically Shaping the US Financial Sector

Cryptocurrencies have become a booming industry, with financial experts estimating the industry to be worth nearly $200 billion. With significant business captains of industry such as Elon Musk participating and endorsing this new form of currency, it is a technological innovation that will considerably redefine how the financial sector looks like in 2021 and the future.

The phenomenal rise in cryptocurrency popularity in the last few years has proved that technological change is-indeed-inevitable. In the United States alone, over 2,000 businesses are now accepting Bitcoin as payment from consumers. This new acceptance is a significant shift from the standard cash-in-hand transactions that most people have used fir decades.

Further, financial markets worldwide have now provided traders with the opportunity to trade in Bitcoin- the trend has been steadily rising in the last couple of months. Blockchain technology has not only presented opportunities for ordinary traders but also to big business moguls. Recently, Tesla made the news headlines when its CEO, Elon musk, purchased $1.5 billion worth of bitcoin. This move rallied bitcoin on an upwards trajectory even further. The trend shows how much potential power bitcoin actually possesses.

What's more, in the future, bitcoin is projected to be on track as the world's most valuable currency. Well, in time bitcoin may become even more valuable than the Euro or the sterling pound. Bitcoin's rising value is the reason many countries are now advocating for cryptocurrency use. Of course, the year 2020 was stressful, especially to financial markets- even though bitcoin also felt the effect, it has been able to rise steadily. In the future, we will begin to see more banking and lending institutions accepting cryptocurrencies as their preferred payment method.

Also, in the future, we might see the expansion and growth of economies, and this will be due to cryptocurrency activities. The mining of bitcoin will provide business opportunities for many people worldwide, especially in developing countries. Russia is now accounts for 6.9% of the world's total cryptocurrency mining capacity- showing how lucrative this activity is. More economies worldwide are likely to follow suit in setting up infrastructures around cryptocurrencies. This will, undoubtedly boost their economies.

The banking industry has often demonstrated a lack of transparency in many ways. The onset of cryptocurrencies has- clearly- changed this dynamic and will continue to do so in the future. Transactions in the crypto world are transparent, as it enables customers to get an inside look at what goes on throughout the stages of a transaction. Privacy will also be enhanced in the future as crypto transactions involve high levels of encryption, guaranteeing users' privacy.

Access to funds in the financial world has mostly been restricted to big players in the industry, especially when it comes to substantial lump sums of money. Currently, most customers often jump through hoops to access cash from banking institutions. Cryptocurrencies will change this-more individuals will be able to access money regardless of their power ranking. E-wallets will also continue to become popular as more people realize the importance of owning the new currencies.

Also, financial market players in the future must be keener while trading cryptocurrencies. Over the past few months, many have witnessed how volatile Bitcoin has become, and many stakeholders in the industry expressed concerns. In the future, traders will have to be more careful while trading these currencies. More competent trading practices must be developed to counter the volatilities of cryptocurrencies. This became evident when Elon Musk stirred the market by making unusual crypto purchases.

Ultimately, financial policy formulation will take a different approach because of these currencies. Banks and monetary institutions will lose control of the money supply if these currencies are issued in a decentralized manner. Policies to regulate such currencies will be crucial, as they will determine how the coins are held. Bitcoin, for instance is likely to make governments categorize mining activities to deduce the best way to deploy taxation measures.

Finally, many have heard of businesses using cryptocurrencies to raise money from investors. This capital mobilization is called an Initial Coin Offering(ICO). In the future, there's likely to be more of this. In the end, businesses must shift more towards using cryptocurrencies to mobilize funds, create a need for better regulation and prevent illegal activities. Think of it: Through its financial market supervisory authority, Switzerland recently released regulatory measures for ICOs, and more nations are likely to follow suit in the future; this is quite interesting.

Revealed: Is Telemedicine the World's Most Profitable Investment?

This is-undoubtedly- a big question: Is telemedicine proving to be the new kid on the bloc of the most profitable investments in the US and the world in 2021? Just consider these facts: While we all agree 2020 was a relatively 'crazy year-' thinking of the coronavirus pandemic- Teledoc Health services ran a business worth an astounding $209.42 in stocks (up from $83.26 in the previous year). These figures represented an incredible growth 152% by December 23, 2020. What does all this say about telemedicine's future? Yes, the pundits have posed the question: What really sent the stocks flying in this unprecedented manner?

Interestingly, we have to think back to get everything right: The emergence of the Covid- 19 pandemic sometime in early 2020 meant that people had to develop new ideas to manage the emerging health issues. Why? Many consumers had no option but to remain at home during the seemingly endless lockdowns. Then came the answer in a rather unexpected situation- the rise in telehealth services. Once this happened, the era of telehealth services was ushered in. Soon, this form of service skyrocketed and became so popular that it quickly became the modus operandi. By the end of 2021, hundreds of doctors in the US were poised to log over a billion virtual visits. Not only was this astounding, but it was also unprecedented.

Today, many health professionals admit that we've effectively ushered in a new era in the history of medicine. In other words, humanity has actually turned a corner, marking a revolution in the way doctors practice medicine. And there's another, more interesting fact- by the beginning of 2021, many doctors in the US reported that most virtual visits were utterly unrelated to the Covid 19 problem. In other words, patients are opting for virtual consultation and diagnosis purely as a matter of personal preference.

Listen to what Jason Gorevic, the CEO at Teladoc had to say on this phenomenon: 'Without a doubt, we've transitioned to the situation where many physicians and consumers consider telehealth as the best way to dispense and access health care.' Because of this seismic shift in the way medics practice medicine, there's unprecedented demand for a singular (centralized) telehealth platform that can cater to primary care, allied health, educational resources, and mental health in a roller-coaster.' Yes, this means that medicine has finally moved on; there's no guarantee that it will ever return to its former station.

Medics were-generally- never in doubt regarding the future of the Covid 19 health crisis in the US and other parts of the world. Why, most health professionals knew well (from scientific analysis) that the second or subsequent wave of the coronavirus would be worse. Think of it, the first wave of the pandemic almost overwhelmed the world's healthcare systems. Economies everywhere on the globe were virtually devastated. The pandemic affected many people's mental health and well-being. The challenge of depression and anxiety became a new issue of national debate. New cases of these ailments soared frighteningly.

In June 2020, a new survey by the US Centers for Disease Control (CDC) revealed that almost 41% of adults in the US had undergone some 'unusual behavioral or mental health condition.' Such conditions included post-traumatic stress, anxiety, substance abuse, and depression. Amazingly these figures were three to four times the situation in 2019. Further, 10.7 % of the people interviewed admitted that-at one point in the previous 30 days- they seriously thought about ending their lives. Of course, to these, it seemed like the only solution to their problems.

The American Medical Association (AMA) says that 'over 35 of the US states have reported a phenomenal increase in opioid-linked mortality. Moreover, within the same states, AMA reported a rising concern for people with substance abuse disorder and mental health issues.'

But- soon- there was unexpected good news regarding a modern, high-tech solution to the Covid-19- related emerging medical challenges. In a press release, CloudMD, which previously ran a successful medical service in Canada, announced it was launching its ultra-modern mental health support services and technology in the US. The company planned to drive its expansion programs all over the country. CloudMD would do this in collaboration with the newly acquired RXi Group. They planned to run a well-established 'One-stop patient support logistics agency' and provide customer-related management services.

Stocks for US Mortgage Giant UWM Decline Despite Massive Profits in 2021

In some of the most profitable years since its inception, the leading US mortgage lender, UWM Holdings, reported a historic $1.4 billion profit in net income in 2020. This represents a whopping 822% profit, capping what seemed a sterling achievement.

Surprisingly, the massive profit margin wasn't enough to satisfy the company's investors. As a result, by early February 2021, the shares dropped by about 10% - reflecting investor diffidence. According to UWM Company spokesperson, the firm barely missed its 2020 profit projections by a tiny margin. The management expected UWM to achieve lower profit margins on its new mortgages in the quarter ending in March 2021. UWM is also known as Pontiac. In efforts to lure investors in September 2020, the UWM management had announced that the company expected to earn $200 billion in originations.

Despite this, a Wedbush Securities Analyst, Henry Coffey, expressed confidence, saying that Pontiac's quarterly performance was significantly strong. Interestingly, after a record-shattering 2020 performance, the UWM investors demonstrated nervousness about the company's future profitability prospects with regards to originating mortgages. This explained the significant decline in the company's share performance by early 2021.

On a more positive note, the UWM's CEO, Mr. Mat Ishbia indicated that his company's lending business would grow by a minimum of 15% in 2021. This disregarded the fact that other industry analysts expressed pessimism about the mortgage business's growth in 2021. In an interview, the CEO said that his company 'Was not even close to achieving all the refinances that ought to be in the market at this time.'

UWM is currently the US' topmost wholesale mortgage lender. In its position, UWM primarily offers funds for mortgages that loan brokers originally manage. In the last quarter, the company reported $ 54.7 billion in its loan originations. This means that the UWM's annual total equaled $ 182.5 billion.

In September 2020, UWM merged with Gore Holdings IV. The latter is well-known as a special purpose acquisition company. The pair gleefully enjoyed an unprecedented mortgage profit wave to achieve a $16 billion evaluation by the end of the period. In early 2021, UWM made its first public trading business on the New York Stock Exchange; by the debut week's close, the company had a market value worth more than $18 billion. In the upcoming quarter, the company management expects UWM to produce $52-57billion worth of new mortgages. Nevertheless, despite these successes, the management expects a significant run of performance. For instance, UWM strategically plans to capture at least 50% of the US wholesale market- to the detriment of its competitors.

Shortly before the company went public in a deal worth $16.1 billion (with SPAC), the CEO stated that observers would make a great mistake if they thought the company's performance would deteriorate. It soon became apparent that UWM was the biggest purchase lender in the entire US market. There was no doubt that UWM was far ahead of the competition-including Rocket Mortgage, its arch-rival. The CEO recently said that, with increased technological investment, UWM was set to rake in more profits in 2021.

Further, the CEO had this to say to indicate the reasons for his company's success: 'We have achieved a wonderful quarter-despite some decline- it's all been an amazing year. We, however, expect this to be our best year in history. I say this considering the mortgage volume prospects. As a company, we aim to focus on the fundamental business at hand. For us, the stock price only follows; it does not lead.' The CEO also explained that the stock price, rather than the 2020 record volume, was linked to 'a normal' year. He expressed optimism that the stock prices would rise to peak at about $13.50. For UWM, he said, the primary focus was business.

He further emphasized that they'd not allow the company's business in the broker channel to be interrupted by the usual fluctuations in the stock market prices. 'We must make the broker share go up, educate the people, and invest in technology. Yes, once we achieve this, the broker channel will undoubtedly grow. It does not matter whether the stock price is $20, $9, or $5; these factors have absolutely no impact on us.

The CEO was confident that on April 6, when the company gives its first dividend, the market dynamics will vindicate his optimism with the UWM's performance and projected growth.