The Most User Unfriendly Systems We Have

It’s about half a month that my iNet banking is not working, reason being I changed my password. Now nor old, neither new password works, and above all, there’s no option password retrieval. I kept on searching any way out for so many days, and finally called the bank.

I was thinking they will probably reset it for me, but , there’s no such option and I’ll have to go personally to get a new iNet account if I want, otherwise forget about it!

It always makes me sad when I see such user unfriendly systems. Such systems may also exist in west as well, but the ratio is very very low. From a simple static site giving insurance quotes to a complex payment system, i.e. PayPal, everything seems giving a real user experience. I don’t mean to say that all of our systems are user friendly, but banks are the major cases, and they must be too easy to use and extremely user friendly. And the dilemma of our internet banking is that, 50% of internet users don’t use net banking because of the complex systems.

Is This The Real Situation Of IT Sector?

I’m really happy to be a part of such a project where people can share what they really think! Yes, it is PingMyCompany.com . Initially I wasn’t really interested in this. I was not sure in fact that this can go this way… probably the day to day changes in it made me to get into it that much.

ping my company's logoWell, the thing that impresses me is of course users’ interaction on board, and the way they speak about… I mean telling “Dil Ki Baat”. But, m’ really amazed to see if it’s the real condition of our IT sector. Comments by ex and existing employees of some organizations here and here are really interesting. But, this is not the case of our software houses only, same can be observed for major Technology players as well.

I’m really enjoying it, not only seeing the comments and PMC growing overnight, but also by posting whenever I like or dislike anything in any company. Experience it once and you’ll feel an inner satisfaction especially when something made you annoyed or really made you happy! 😉

And I Learnt A Little About Turtle Trading

Lately I happened to read about turtle trading, and thought it has to do something with animals or so. As it was something new to me being away from what I studied in academics for quite a long time, I really couldn’t figure it out at first instance. Well, found it lately, and it revealed a totally different story. It’s some two decades or so back that a famous trader Richard Dennis moved from $2,000 to $200. Later he taught his strategies to some fourteen people whom he gave his money also to trade and called them turtles.

I’m not sure, or didn’t find any clue why he called them turtles probably using the opposite word for the rapid growth in accounts. Anyways, coming back to the point, his turtles earned $175 or so millions in just five years! One of his original turtle I found some details about on net is Russell Sands, who also helps people to learn Managed Futures Trading Account and of course earn out of it as well. There’s a lot more stuff there, but generally what he targets is:

  • Help people know about the balanced trade
  • Understanding the forex system
  • Using the strategies more practically.

There may be more deep down things, but this is what I got!

Deferred & Variable Annuities

Some days back, I happened to have a short online conversation with an old student of mine. He asked me about the annuity rates and the difference between fixed deferred annuities and variable deffered annuities. I was in a hurry so couldn’t explain him in detail and just gave outline. Today, I’ve 10 minutes so thought to write it down and post on blog, so that some others may also benefit from it.

Well, first to know what is the Deferred Annuity. It may work as banks’ certificates of deposit whereby the the buyer is offered a safe interest rate of return on their money, or to stock index funds or other stock funds, where the growth of the account is dependent upon the performance of the market.One thing common in all deferred annuities is that any increase in account values is not taxed until those gains are withdrawn. Better known as tax-deferred growth.

Now fixed Annuities offer some sort of guaranteed rate of return over the life of the contract, but may also be not completely fixed, instead a guaranteed minimum rate. This is the safest way, but the rate of return is of course not high. On the other hand, varianle annuities allow money to be invested in separate accounts, it’s very similar to mutual funds. Some variable concerns also allow a minimum guaranteed rate, bringing down the risk factor, but it’s still there with high rate of return.

Outgrowth Of Consumer Financing: Positive or Negative!

Many of the people do criticize the commercialization of banking services, i.e. especially the consumer financing holding that they’ve led the people to spend more and more on useless things, but if we see from increasing consumption leading to increased production and GDP point of view, the economies have really grown. Though the macro economy has got most of this growth, but the ease and comfort at users’ end, i.e. from credit card debt relief to car financing and house financing it’s served the people on micro level.

It’s no doubt an endless debate, but the growing economies of the world have outshown the concept of supply according to the consumers’ demand. In this contest, Pakistani economy has also seen the outgrown macro economy in the past few years, and this growth has served the people to a specific extent as well. Yes, there lies a negative aspect, as nothing in the world is 100% complete so is the case with this growth and development. This negative aspect is the uncontrolled poverty and inflation.

Well, these are the challenges for the forthcoming rulership on one hand and for the economy experts on other. Let’s see how can we improve or at least can do just a cut above.

Can It Work Here?

It’s been many days that I couldn’t find anything to write on. Doesn’t mean nothing has happened, but I couldn’t make myself to write on happenings. I’ll be writing on happenings later but before that something I discovered, (It’s not my discovery in fact, but came to know about its working now). Well, it’s lawsuit settlement loans, whereby a financer buys a part of a plaintiff’s anticipated settlement in order to make him financially solvent until a particular date.

This is very interesting as if the plaintiff fails to receive the anticipated settlement, the financer will not collect that amount. This feature makes this sort of loans a bit more risky, so it’s recommended that the financer should carefully judge the validity of a case and the plaintiff’s potential for future settlement before advancing such a loan.
Well, coming to the point, I’ve been thinking the practical validity of this type of loans in Pakistan if we can incorporate them. That’s not practically invalid, but I think, needs much more clear terms, and here the risk becomes double than that of what can be expected in developed countries, so the incorporation may not be as successful here. That may be one point while thinking on the grounds set by people who took banks towards a negative end, but hope of having a fair positive attitude by same people is still there.

Career Development Bringing New Horizons Of Excellence For Construction Industry

Lately I wrote how much addicted I’m to the internet. I myself was shocked to see that on my blog I’ve written almost about every niche I know a little about. Well, today it’s something that I never wrote before, and it’s construction and related stuff I’ll discuss. Why I wanted to have my say on the issue was just a thought of comparison of collapsed bridge in Karachi (few months back) and the skyscrapers of the west. Well, by thinking about that accident, just a thought of career development of the whole sector came in my mind.

 Initially, I came up with the point to have some career development opportunities for operational employees only so that they can have better opportunities. I might have insisted on my say, but the logical explanations in the link above took me to a deep analysis. It stated that training matters for each and every level. And yes, it does! That’s one of the possible reasons for the outgrown development of Construction industry in west.

 Providing information for people associated with the construction industry about certification, latest health and safety legislation and career development like Cskills.org does can really help increasing the standards of industry. I’m not sure about the exact stats of improvement, but a clear difference will be there.