Category Archives: Banking

Overview of the 10th largest bank in Texas

NexBank is a Dallas based financial service company. It is the 10th largest bank in the state of Texas and the 158th largest in the nation. It was established in the year 1934. Since the year 2016 NexBank has been able to raise$283 million worth of debt and equity. The organizations announced the successful conclusion of a $ 54 million project of a private placement of its floating rate low notes to high net worth investors.

NexBank is a financial service institution that offers its clients the following core services. Commercial banking is one of the core services provided in NexBank. In this, there are several services which include: commercial lending where they offer commercial loans and SBA loans to customers they find liable for the loans. In retail banking, they also provide commercial real estate lending which includes interim and bridge financing, permanent financing, mini-permanent financing, refinancing, owner-occupied real estate and construction and development. NexBank also offers financial institution services, credit services, agency services, and treasury management as well under commercial banking.

The other core business service offered by NexBank Capital is mortgage lending. In this, they offer warehouse lending where the clients get the chance to benefit from exceptional levels of service and competitive rates and terms. Under mortgage lending, they also provide warehouse and correspondent lending where they offer a full range of customized products and services which are designed around the needs of their clients

The third core business offered by NexBank is institutional services. The institutional services are comprised of financial institutions where the company has tailored services that meet the needs of the company and they are advised on how to go about different situations. Treasury management where they help firms increase the productivity of their treasury operations, gain higher visibility flow and increase the revenue potential of their short term asset. They also offer public funds where they have tailored depository services and specific interest-bearing account to meet the needs of federal fund depositors. Their institutional services also include investment banking and real estate advisory.

NexBank offers banking and financial products. In NexBank they do personal checks of accounts, savings accounts, mortgages and mobile banking and financial checks on accounts. The company serves individuals and institutions where they even offer advisory services. The bank has branches that report their encounters and activities to the headquarters which is the NexBank based in Dallas.


Western Union Partners With PSI Pay To Ease Service Delivery

Western Union’s latest global expansion program would see them partner with the UK based ecoAccount online wallet. The strategic partnership goes a long in cementing Western Union’s footprint in the European market that also allows individuals with the ecoAccount wallets to send and receive western union money locally or internationally seamlessly. This alliance was made possible after successful integration of western union services with PSI Pay’s partner brand that hosts the ecoAccount online wallets.


A new global payment processing network


The NYSE listed Wester Union has already carved itself a popular niche in the world of cross-border and cross-currency money movements. Bringing the PSI Pay backed brands on board and letting them in on their money movement processes helps usher in a new payment processing player in the world of currency remittance. You should also note that this collaboration makes ecoAccount the first online wallet agency for Western Union.


Benefits of the partnership


While Western Union remains of the most popular and globally trusted currency remittance companies, it still faces challenges in accessing some global markets. According to its President, Odilon Almeida, the company has therefore resolved to make key strategic partnerships across the world in a bid to unlock new growth opportunities. Partnering with the UK based PSI pay brand is, therefore, a step in the right direction for western union.


On the other hand, the ecoAccount online wallet has set itself as one of the fastest rising currency remittance platforms in the UK and beyond. Integrating core business functions for the two companies, therefore, goes a long way in helping the two access larger market base in the country with plans underway to scale this online outfit into a global finance industry player.

Moving away from the confines of the banks


The partnership is also historic as it marks the first time western union entrusts is services to a non-bank digital platform. Its president has also hinted at the possibility of empowering the mobile app to tear its UK market limitations and facilitate the transfer of money globally.


More about Western Union


Western Union remains a leader in the money transfer industry facilitating the smooth distributing of money in over 200 countries and territories. With a global network of over 550,000 retail agents, the company is able to move cash into billions of accounts globally in the least time possible. Its penetration into the digital money transfer market only serves to further broaden their global reach and effectiveness.


More about PSI Pay


PSI Pay is a UK based e-Money company governed by that facilitates the processing of digital currencies in the country. It is also a principal issuing member of the Visa and MasterCard worldwide and is also licensed to issue debit and credit cards in the region.