How Will Coronavirus Affect Loan Administration in the USA?

COVID-19 has undermined every industry and every business sector imaginable, with banks and lending institutions suffering from a dual adverse effect. Simon Mosheshvili, Senior Vice President of Latin American Operations at Digital Edge, shares his insights on how the loan administration niche could respond to the COVID-19 challenges productively.

How Are Lending Servicers Affected?

One of the unpredictable yet far-reaching effects of COVID-19 was the quarantine and travel restriction leaving millions of people without work or with a reduced workload, and correspondingly lower salaries. Such a decline in people’s earnings has inevitably reduced their ability to pay their loans, which posed a liquidity issue for the lending organizations. Thus, the lenders conducting loan administration are facing numerous challenges, such as non-returned loans from those who lost their jobs or are on a mandatory leave because of their company’s pause in operations. Besides, they must manage their own employees, providing them with opportunities to work remotely and paying them salaries. Finally, they need to find money for issuing new loans to those who found themselves amid the global pandemic without any financial reserves.

How Should Organizations Respond?   

At the first glance, the situation seems critical for both lenders and borrowers. But for the loan administration companies to preserve their positive relationship with customers and to support them in the hard times, it is vital to respond to these challenges proactively. The most constructive responses include:

  • Making more services available online;
  • Consulting the borrowers on loan forbearance and skipping of payments;
  • Provision of precise loan appraisals and refinancing advice online;
  • Provision of all loan approval information to reduce the financial uncertainty among clients and to inform them what they can count on.

How Will Loan Administration Change?  

As organizations are gradually learning to exist in the new conditions of the global pandemic, one thing is clear – business operations will never be the same, loan administration included. Financial institutions are likely to feel the heaviest burden of the crisis following the quarantine as lots of people lose jobs and can’t afford paying their loans back. Thus, it’s imperative to develop new strategies for clients to manage their loans, to offer more flexible options, and to support the clients in the hard times, helping them recover financially and close the loan without getting into a debt pit.

All You Should Know about Microsoft Dynamics Solutions

Managing your company’s relationship with clients, as well as planning the resources of your business, has never been as easy as it has become with Microsoft Dynamics 365. This cloud-based ERP and CRM platform emerged as a complex solution for businesses of all types and sizes to boost productivity, advance automation, and introduce AI tools for better business management. The offer was released by Microsoft in 2016 and for the past four years, it has gained much popularity among entrepreneurs for its affordability, flexibility, and variety of included features. The Microsoft Dynamics 365 set contains business applications of all kinds, allowing each client to choose the necessary functionality and customize the services for their unique business needs.

Pros and Cons of Microsoft Dynamics

One of the most evident advantages of the Microsoft package for businesses is its low cost of entry, allowing any business, even that with a small budget, to try it out. Simon Mosheshvili, an experienced entrepreneur and expert in information technology, also praised Microsoft Dynamics for the extensive analytics of customer data allowing a better insight into customer behaviors and preferences, thus paving the path for any business service improvements. In addition to these analytical tools, Mr. Mosheshvili admitted that the CRM solution from Microsoft has advanced omnichannel customer engagement tools that improve the brand’s relationship with the loyal customer community and increase clients’ loyalty.

Apart from these evident pluses, however, some issues still require being mentioned to give an objective snapshot of how Microsoft Dynamics can help your business. It’s notable that Microsoft doesn’t market the platform directly, but does it with the help of third-party affiliates, which may raise some support and pricing issues. Besides, there have been several complaints across the Web about lengthy management of queries and complaints by the platform’s support. Hopefully, these issues have been fixed as the platform evolved on the market.

Where Can You Use It?

Microsoft is a company with tons of digital solutions for businesses, so if you work with its products or require the integration of CRM/ERP platforms with D365 or O365, Microsoft Dynamics is the platform to choose. It also integrates seamlessly with PowerAutomate and PowerBI, raising your business capabilities to the next level.

Arter — Contemporary Art Museum in Istanbul

Istanbul is a historical and cultural gem of Eurasia. Through ages, this transcontinental city has beckoned the folks from different corners of the world and become the quintessence of cultural heritage. Today, Istanbul is one of the central cities where contemporary art evolves and prospers. Amongst a wide variety of local art museums, we want to drag your attention to Arter, a very special contemporary art museum in Istanbul.

Arter is more than just a contemporary art museum

Arter was opened as a subsidiary of the Vehbi Koç Foundation in 2010. In 2019, the Museum moved to a new magnificent 18,000-square-meter building. With the new venue, Arter went beyond the traditional notion of a museum and transformed into a multi-art platform for resourceful local and international artists. Today, the Museum’s collection features an impressive spectrum of art in all media, from painting and sculpture to photography and film to art installation.

Arter — Contemporary Art Museum in Istanbul

Being an integral part of the booming art scene in Istanbul, Arter continues to explore new horizons. In addition to offering superb exhibitions and a diverse collection of art, the program of this contemporary art museum features events for every taste. These include music shows, film screenings, digital art performances, and many more.

Apart from that, Arter is a valuable asset for those hungering for knowledge. You can enroll in Arter’s Learning Programme to immerse in the world of art with professionals and explore it inside out. In the meantime, two new series of publications titled “After Close-up” and “Arter Background” are off-the-shelf and will perfectly suit avid art-lovers interested in the history of art. Arter is not just a museum; it is a workshop of the art world’s future.

It is also worth noting that with the coronavirus hovering around, Arter does not sit with folded hands. The Museum keeps operating online. For example, we highly recommend the exhibition titled “#playathome: A Selection from the Arter Collection.” It is on view online through May 15.

Eva Mayer Has Released a New Single Titled “Survive”

The up-and-coming Russian artist and poet Eva Mayer has recently released her new work titled “Survive.” The single was created in collaboration with Legroni, a popular musician and DJ, whose original tracks are gaining popularity in the music scene worldwide. “Survive” is Eva Mayer’s first work presented in the techno style. Besides, it is her first single released with English subtitles to reach a wider international audience.

Eva Mayer burst onto the Russian art scene in early 2019. Her bold and straightforward free verse poetry read with electronic and dance music in the background was like a breath of fresh air, turning everyone’s attention to the young poet who was not afraid to tell the truth even if it was inconvenient or hard to hear. Over the last year, Eva Mayer has released several successful poetic albums, celebrated her birthday with a touching reading of her best works, had a series of public poetry evenings and media appearances, and even become the most talked-about poet in Russia.

Today, Eva Mayer continues to grow as a poet and artist, trying different art forms and styles to express her creativity and talent. In particular, earlier this year, she introduced her first series of abstract gouache paintings she painted using her naked body as a tool. One of the paintings, “Cosmic Love,” was selected to be featured on the cover of Mayer’s new single “Survive.”

Eva Mayer Has Released a New Single Titled “Survive”

The cover of “Survive” has one more interesting element. If you look closely at it, you will notice Eva Mayer’s signature ME right before the name of the artist. It is a play on words, which, on the one hand, refers to her initials and, on the other hand, emphasizes her personality by stating “Eva Mayer is me.” This significant ME can be found on all works created by Eva Mayer, making it a distinctive feature of the artist.

As it has been already mentioned, “Survive” is Eva Mayer’s first work in the techno style. This became possible thanks to the artist’s collaboration with Legroni, who uses a combination of world sounds, analog synthesizers, and VST plugins in his tracks. “Survive” is stylish and sensual at the same time; it is full of strength and courage, love and hope. This work has marked a whole new stage in Eva Mayer’s artistic development, showing her talent and creativity from a different angle.

Please visit https://fineartshippers.com/ to learn more about Eva Mayer and her innovative art, and join the artist on social media to keep abreast of the latest news, releases, and stories from her life.

Instagram @eva_mayerme

Facebook Eva Mayer ME

YouTube Eva Mayer

Controversial Street Art by Banksy

Never has controversial art been so controversial as today. Firmly rooted in the entire human history, this branch has always represented the other side of the coin, which is the dichotomy between what is desirable and undesirable for the majority. In the last decades, it has divided into several new parts, and one of the most flourishing ones is controversial street art. In that respect, we cannot help but mention Banksy, an inspiring street artist noted for his contentious works.

A Slaughterhouse Delivery Truck as a symbol of controversial street art

While Banksy’s identity is yet unknown, his every work draws the attention of millions of people. The street artist leaves his mark all around the world, with many pieces being exhibited, sold, and resold. What is special about his street art is that it is a fabulous mixture of dark humor, satire, and realism. The controversy of Banksy’s works lies in revealing images that are prone to criticize aspects of people’s lives in society. His art is international as it questions the leading principles of any existing social structure.

“A Slaughterhouse Delivery Truck” is a brilliant piece of street art that came as a shock to many citizens of New York when it first appeared in 2013. At first glance, you just see a truck padded with animals. Not only do they look out from wooden slats, but they also moan and squeal. The picture of the truck changes its meaning when you notice that these cute animals are being moved to the slaughterhouse. One way to understand this is to look closer and ascertain that Banksy depicts the cruelty of the food industry and emphasizes that it is so casual that the truck is moving freely across the town. Such controversial street art makes you reconsider your views on some crucial life issues. After that performance, NYC street art changed forever.

Photo credit: Flickr User The Shared Experience / CC BY-NC-ND 2.0