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Manalapan
Dynasty Banking
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Posted - 2008.02.25 03:46:00 -
[1]
Edited by: Manalapan on 25/02/2008 03:46:44
Dynasty Banking is currently offering:
Savings Accounts:
Standard: 4% monthly rate
Limited Access: 6% monthly rate
Certificate of Deposit:
2 Month CD: 7% Monthly Rate
3 Month CD: 8% Monthly Rate
4 Month CD: 10% Monthly Rate
Loans: Available at a per character instance based on credit ratings. Expect to put forth collateral.
Credit Ratings and Reports
Dynasty Banking History. Dynasty Banking started as a corporation devoted to the usage of Dynasty Corporation members. With the success of that operation the bank is now going public with its operation.
*Interest is on a monthly basis. The money to support the interest is achieved via market trading and dividends received from investments. Loans also serve a portion of the interest but as of yet have not served as a large source of income.
Currently Dynasty Banking has gathered a 364% reserve balance for the current savings accounts and CDs. So the ability to cover interest is of no issue. Currently I understand that players will be worried about me running away with their money, so I guess until I have earned some creditability that fear will remain an issue.
Credit Ratings and Reports is a system similar to that that currently exists in modern banking. It is designed to allow for new banks to start operating in EVE and have a resource they can use to determine low and hi risk characters based on how they have behaved in the banking industry throughout their history.
Dynasty Banking is currently piggybacking off of Dynasty Corporation's website at http://dyco-eve.com/bank/bank.html. You can apply for a savings account there or by contacting me personally in game. You can also check your account balance at that site.
*Note: Loan Interest operates separately on a per loan basis.
Please post any and all questions or concerns you might have so I can clarify all confusion.
Dynasty Banking |
cosmoray
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Posted - 2008.02.25 04:19:00 -
[2]
I may be wrong but I can only find posts from you starting in february 08.
Questions:
1.Why should anyone on the MD forum trust you with our money when you have no history or credibility?
2. Why should I choose you over Ebank and Furybank.?
3. Do you know your competition?
4. Is this character an ALT?
5. If ALT, post with your main?
6. Do you have any references?
7. Is anyone acting as a guarantor for the accounts?
Loan Question
I assume you plan to make money by making loans.
With a high interest rate, how will you attract business when your competitors offer colateral backed loans that are close to your bank interest rate?
If you are not offering loans, how do you plan to make money?
If it is unsecured loans, you will be wide opoen to scams
Answer away
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Ricdic
Caldari
Corporate Research And Production Pty Ltd
Zzz
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Posted - 2008.02.25 04:19:00 -
[3]
Edited by: Ricdic on 25/02/2008 04:20:45
 Originally by: Manalapan
Currently Dynasty Banking has gathered a 364% reserve balance for the current savings accounts and CDs.
Ok let's start here. Firstly you are an exclamation point. Do you have a main or are you a new player? You then suggest you have a 364% reserve on an undisclosed balance. This could be 1m or 100b. There's no way you can suggest you can repay people based on a 364% reserve that is undisclosed. What happens if people deposit 10b into you tomorrow?
Quote:
So the ability to cover interest is of no issue.
As above I would like some clarity on this
Quote:
Currently I understand that players will be worried about me running away with their money, so I guess until I have earned some creditability that fear will remain an issue.
Some? Try all. We need to know who you are, how long you have been playing, who your mains are, why you think we should trust you, who your references are, etc. I would also suggest a far more comprehensive document listing who you are and what you do not simply (we will use your isk for trading, pay you high returns and still somehow maintain liquidity in withdrawals etc). I am not saying it cannot be done as Fury does a fantastic job of it, but he has also proven his competence and skills in the field. With you, nothing has been disclosed.
Quote:
Credit Ratings and Reports is a system similar to that that currently exists in modern banking. It is designed to allow for new banks to start operating in EVE and have a resource they can use to determine low and hi risk characters based on how they have behaved in the banking industry throughout their history.
I would like to know how you plan to action this. Would I be eligible for a 10m unsecured loan even though I have no Dynasty bank account?
Quote:
Dynasty Banking is currently piggybacking off of Dynasty Corporation's website at http://dyco-eve.com/bank/bank.html.
Ok who is Dynasty corp? Are they established? Are you the CEO? What have they done?
Quote:
You can apply for a savings account there or by contacting me personally in game. You can also check your account balance at that site.
I had a look at the site. It says account number and password verification isn't yet implemented etc. However in your first post you say
Quote:
Dynasty Banking started as a corporation devoted to the usage of Dynasty Corporation members.
so how did Dyn customers access their accounting information etc?
I am all for the competition but you have to understand you need to provide a far stronger reason why we shouldn't just blast your idea. Looks like you nabbed some EBANK font/styles too but I don't care about that (and may be wrong)
Hopefully you can answer my questions. Best of luck,.
edit: cleaned up rabble
http://oldforums.eveonline.com/?a=topic&threadID=500043
Largest Empire Research Alliance in EVE! |
Admiral Grevious
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Posted - 2008.02.25 05:07:00 -
[4]
So, after doing a little research, I'm guessing that Daallie is the main.
Looking at battleclinic killboards, he's about as bad of a pvper as I am.
Looking at his losses, he's a trader or industrialist.
He had enough isk (6 Bil) to purchase a pretty decent toon - YinandYang - last June.
Manalapan is probably a new toon created for managing Dynasty Banking.
My conjecture anyways fwiw.
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Kwint Sommer
Lothian Quay Industries
Zzz
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Posted - 2008.02.25 05:12:00 -
[5]
To paraphrase: I'm a faceless alt with no reputation or security. I choose to conceal my indentity and have no one to vouch for me. I have created a bank, please send me as much money as you can.
5% Mining & Manufacturing Implants |
Manalapan
Dynasty Banking
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Posted - 2008.02.25 05:14:00 -
[6]
Quote:
1.Why should anyone on the MD forum trust you with our money when you have no history or credibility?
I do understand the issue of trust present here. With minimal history, including on my main there is very little room for trust and credibility. There is honestly very little room for me to gain any trust without use or reference. I will be posting a response in reference when I get to that question.
Quote:
2. Why should I choose you over Ebank and Furybank.?
The account rates are much higher than the primary competition of EBANK who provides an interest rate of 3.044% a month while Dynasty Banking base rate is 4% a month.
Quote:
3. Do you know your competition?
I have not contacted them, but I have looked at their rates and intend to remain competitive with the primary competitors (Ebank and Furybank).
Quote:
4. Is this character an ALT?
5. If ALT, post with your main?
Yes, this is an alt. This topic was posted for quick in game reference by this character. I will be following up this with a post by my main.
Quote:
6. Do you have any references?
There are current users of the bank. If you contact me in game I would be glad to have them join in conversation with you. Just as policy I do not feel it is right to disclose that information of customers publicly.
Quote:
7. Is anyone acting as a guarantor for the accounts?
Money will be primarily gained utilizing market trading so loss amounts will be minimal if at all. Dynasty Corporation and my main also personally gaurantee all accounts on Dynasty Banking. If for any reason Dynasty Banking reserves run too low for withdrawal my main will personally pay the difference.
Quote:
You then suggest you have a 364% reserve on an undisclosed balance. This could be 1m or 100b. There's no way you can suggest you can repay people based on a 364% reserve that is undisclosed. What happens if people deposit 10b into you tomorrow?
The bank currently has deposits of 1,607,161,250 and reserves of 5,850,066,950
Quote:
I would like to know how you plan to action this. Would I be eligible for a 10m unsecured loan even though I have no Dynasty bank account?
As the Credit Rating system is set up all characters have a neutral credit rating if they have no previous history Dynasty Banking. All loans for characters of this credit rating are required to place collateral on the loan. Unsecured loans are for those members that have had a long positive history with Dynasty Banking. Also this is to help other banks start by giving them an idea of risk associated with certain characters.
Quote:
how did Dyn customers access their accounting information etc?
On the site there was originally a listing based on account numbers. Recently implemented, you may now enter your account number to check balance. Soon to also check account usage and history.
Quote:
Looks like you nabbed some EBANK font/styles too but I don't care about that (and may be wrong)
Myself and the primary web designer created the site prior to the existence of Dynasty Banking all designs are based on the original Dynasty Corporation design.
Dynasty Banking |
Daallie
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Posted - 2008.02.25 05:22:00 -
[7]
Wow in the time it took me to write the first reply. I had a nice post about myself and then a real lovely response from a character that likes to troll the forums that relate to other people trying to make a living in eve. Not that I really need to do this its just a nice service that I started for my corporation a few months back it was decently successful enough to where I decided to bring it to the public stage.
This is Manalapan's main for all that would like to know, and yes this character can get beat up by just about any combat pilots older than three months. I bought YinandYang for a reason almost a year ago. Anything else you want to know about myself please let me know.
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Kwint Sommer
Lothian Quay Industries
Zzz
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Posted - 2008.02.25 05:24:00 -
[8]
Quote:
The bank currently has deposits of 1,607,161,250 and reserves of 5,850,066,950
Yet you don't have a maximum amount listed? You clearly haven't run a public business before because if you had you would know that we will throw tens of billions at a trusted source offering a 4% monthly bank account with withdrawals anytime....this isn't a real offer. It's some noob and or scammer wasting our time.
5% Mining & Manufacturing Implants |
Admiral Grevious
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Posted - 2008.02.25 05:25:00 -
[9]
Are there any account limits?
What if you get 10 people who want 4 month CD's and put in 1 Billion each?
Will you be able to pay out the 11 Billion?
How would you guarantee that?
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Admiral Grevious
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Posted - 2008.02.25 05:30:00 -
[10]
LOL. Too funny. Kwint and I reading and replying to the same points.
Also - two different ways to reply.
I R not so gruff. 
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Daallie
Dynasty Corporation
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Posted - 2008.02.25 05:34:00 -
[11]
Quote:
Yet you don't have a maximum amount listed?
There is no maximum amount listed because that would weaken the strength of any bank. Also, know that I personally am very good at working the market. I have no qualms that I can handle any size account and if it does happen then we will address that problem when it occurs. Like I said I personally guarantee all rates as well. So, if an amount becomes too much to handle that interest will be paid and a maximum will be placed on the accounts and I will suffer the loss.
Quote:
What if you get 10 people who want 4 month CD's and put in 1 Billion each?
Will you be able to pay out the 11 Billion?
How would you guarantee that?
Over 4 months I could easily turn that 10 billion into much more than 11 billion and like I said above I personally guarantee all promises made by Dynasty Banking.
Dynasty Corporation |
Astorothe
Aperture Science Industries
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Posted - 2008.02.25 05:38:00 -
[12]
Interest rates are very nice. I am hoping against all odds that you are legit and breath some very much needed new competition into the player-bank industry. I'll wait and see how this pans out.
Eve Web Design | Eve Addicts | RPGN.net |
Nenoco
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Posted - 2008.02.25 05:43:00 -
[13]
I can attest to the validity of Dynasty Bank. I have had an account from its beginnings and I have not heard of anyone having any problems with it.
I've seen Daallie's capability to trade and I have no doubt that he would be able to supply you with your funds at any time and pay your interest.
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Admiral Grevious
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Posted - 2008.02.25 05:49:00 -
[14]
Can you provide more detail on the 2 types of accounts - savings and limited access?
How easy is it to move isk into/out of each account?
Can isk be moved from the CD's at a penalty?
You mentioned the Credit Ratings and Reporting system.
How are you going to elicit cooperation from the other banks in that regard? It's a great idea - just wondering how that will be feasible.
One suggestion for the short term - I think you should have some type of FAQ on the bank page.
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Ricdic
Caldari
Corporate Research And Production Pty Ltd
Zzz
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Posted - 2008.02.25 05:52:00 -
[15]
Originally by: Kwint Sommer
this isn't a real offer. It's some noob and or scammer wasting our time.
That's a bit rough. Thus far the guy has answered all questions posed at him in a relatively good manner. I definetly am not vouching for his service but in my eyes it's a long way from a 'scam'. One could 'think' it's a scam, but stating factually that it's a scam is a little harsh at this point in time.
Each to their own
http://oldforums.eveonline.com/?a=topic&threadID=500043
Largest Empire Research Alliance in EVE! |
Daallie
Dynasty Corporation
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Posted - 2008.02.25 06:07:00 -
[16]
Quote:
Can you provide more detail on the 2 types of accounts - savings and limited access?
The savings account is your typical account you can deposit and withdraw as frequently and as much as you want.
The limited account is almost a 1 month CD except that you can deposit as much as you want but can only access it once a month. A much better option for people just looking to have money grow but want to have maximum profit and no losses from early withdrawals.
Quote:
How easy is it to move isk into/out of each account?
It is very easy, I check Manalapan multiple times throughout the day. Just send your withdrawal request and I will process it the moment I see it. If you are in a rush you can also use the website to drop me an email at the contact me page and my phone rings nicely letting me know I have an email.
Quote:
Can isk be moved from the CD's at a penalty?
Yes but at a large penalty to interest. If you feel the possibility that you might want to prematurely terminate a CD I would advise a limited account or a shorter CD.
Quote:
You mentioned the Credit Ratings and Reporting system.
How are you going to elicit cooperation from the other banks in that regard? It's a great idea - just wondering how that will be feasible.
After your mention of cooperation I do plan on getting into contact with EBank and Fury to try and get help with this setup.
Dynasty Corporation |
Daallie
Dynasty Corporation
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Posted - 2008.02.25 06:09:00 -
[17]
Also please know that due to some confusion in regards to the website efforts are being put into place to alter the design and make it more user friendly. Also will include the FAQ that Admiral Grevious so kindly suggested.
Dynasty Corporation |
Kwint Sommer
Lothian Quay Industries
Zzz
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Posted - 2008.02.25 06:11:00 -
[18]
Originally by: Ricdic
Originally by: Kwint Sommer
this isn't a real offer. It's some noob and or scammer wasting our time.
That's a bit rough. Thus far the guy has answered all questions posed at him in a relatively good manner. I definetly am not vouching for his service but in my eyes it's a long way from a 'scam'. One could 'think' it's a scam, but stating factually that it's a scam is a little harsh at this point in time.
Each to their own
At the time I very much meant and/or and after he produced his main and answered a fair number of questions I'm glad to say I am leaning away from it being a scam. That said, the fact that he has less than 2B (non of which has been confirmed) and yet is claiming he can handle any amount thrown at him makes me say "lol, goodnight."
Honestly, anyone who states they can scale directly and immediately up from trading with 2B of people's money to 500B is either a scammer or a noob, in either case my time is being wasted.
I hope this is legitimate and I hope we have another bank but there's good reasons why the 2 current banks have heavily capped the account balances and the fact that the OP can't see that shows he's either too inexperienced to handle something like this or worse....
I may have a been a tad harsh and dismissive but I stand by my assessment of things. As was posted earlier this weekend, "garbage in, garbage out." The OP didn't do his homework, didn't put that much effort into the right up, posted it with a faceless alt and is inexperienced enough to think he can handle any amount of money and egotistical enough to post that, my "rough" responses are inline with this.
Regardless, goodnight.
~Kwint
PS Creating a public venture (especially something giant like a bank) with a faceless and reputation-less alt is not wise, obviously later brining out your main goes a long way towards fixing it but if you're going to do that, then just post with/identify your main in the first place.
5% Mining & Manufacturing Implants |
Shadarle
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Posted - 2008.02.25 06:26:00 -
[19]
Edited by: Shadarle on 25/02/2008 06:26:32
You should be limiting the amount you accept to limit the scam potential.
You should also stop acting as though you are a god of trading. If, for example, I threw 100b isk into you I seriously doubt you'd be able to turn that into 140b in 4 months on top of paying back the interest you owe to everyone else. Perhaps you can turn 1b into 1.4, but that is not the same thing as turning 100 into 140.
If you only accepted up to 4-5 bil you'd still have a very hard time convincing anyone here to trust you... but saying you have no limit makes it even less likely. Without a reputation I can't see trusting you with any of my money.
And finally, your assurances that you will be personally responsible for any shortcomings mean nothing. The whole problem is that no one knows if you're trustworthy, so you promising something is kind of worthless. A promise only means something if the person giving it is trusted to back it up.
I hope you're real... but you are going to have a hard time finding people to trust you initially. We don't much care for !'s around here. If you don't have the dedication or interest to spend time here, post about things, share your thoughts on various topics, etc then why should we spend any time on you?
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Daallie
Dynasty Corporation
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Posted - 2008.02.25 06:33:00 -
[20]
Edited by: Daallie on 25/02/2008 06:35:00
Quote:
Honestly, anyone who states they can scale directly and immediately up from trading with 2B of people's money to 500B is either a scammer or a noob, in either case my time is being wasted.
If you do not think I can handle that much money than do not give it to me. To be honest my expectations was maybe a max of 5B total as a bunch of players tested the bank for its functionality and legality.
If I begin to get more players reflecting this same concern to raise everyones comfort levels with the bank I will establish a very conservative max deposit rate of 500M a month to give a slower rate of progress to the higher levels of isk, and raise it, or remove it from there based on performance.
EDIT: Alright since someone expressed the same concern during the process of writing this reply the above will be implemented as a maximum deposit rate. Hopefully you are all more comfortable with that amount.
Quote:
PS Creating a public venture (especially something giant like a bank) with a faceless and reputation-less alt is not wise, obviously later brining out your main goes a long way towards fixing it but if you're going to do that, then just post with/identify your main in the first place.
Yes, I do understand that as an error on my part.
Dynasty Corporation |
Admiral Grevious
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Posted - 2008.02.25 06:49:00 -
[21]
I would like to open a savings and limited access account.
Small - probably 10 mill in each.
I mainly want to look at the interface.
I don't know if you've had a chance yet, but you may want to check out Eve Banks' site:
http://www.eve-bank.net/About/Stats.aspx
The stats page is the most important thing I think for you so you can check out the scale of your competition. They are pretty massive in scale.
I hear good things about Fury Bank as well, but I've not yet utilized Fastlearner's services so I don't know if he has an OOG site.
I'm all for more banks. The more banks there are, the more competition, higher rates on savings/bonds/CD's, lower rates on loans.
I just don't know if you are ready to scale as large as could be possible.
Heck, there are people here who could drop 60 or 100 Billion into a CD and rightfully expect 66 or 110 Billion back. (Not me btw)
So, I'll send some isk in the morning to open my accounts. Don't want to login to game right now.
One more question... the CD maturation process.
After maturity, what will happen to the cd? What tpe of account does it go into?
Will it rollover after some point?
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Manalapan
Dynasty Banking
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Posted - 2008.02.25 07:17:00 -
[22]
Edited by: Manalapan on 25/02/2008 07:20:38
Quote:
I would like to open a savings and limited access account.
Small - probably 10 mill in each.
I mainly want to look at the interface.
Thank you for deciding to open an account. I would like to inform you that right now myself and the web designer are working on maximizing the interface usability.
Quote:
One more question... the CD maturation process.
After maturity, what will happen to the cd? What tpe of account does it go into?
Will it rollover after some point?
Terms for CD is compounded monthly interest. I apologize if that was not clear, so the 100B would actually be worth 146.41B after the 4 months.
After maturation of the CD the funds will be as the default dropped into the customer's standard account. The customer will be contacted closer to the maturity date to establish if they desire a different option (at this point it will be an option to rollover and extend to a longer CD that is retroactive across the past CD duration up to a maximum of 4 months at which time the CD will be at maximum maturity).
Dynasty Banking |
LaVista Vista
Conservative Shenanigans Party
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Posted - 2008.02.25 07:24:00 -
[23]
Originally by: Admiral Grevious
The stats page is the most important thing I think for you so you can check out the scale of your competition. They are pretty massive in scale.
I believe in terms of size isk wise, Fury bank is actually bigger, i believe. I could be mistaken tho, as i dont have the real numbers for either of them.
User wise, EBank is definately bigger.
So your gonna have quite a bit of competition im afraid.
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Manalapan
Dynasty Banking
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Posted - 2008.02.25 07:35:00 -
[24]
Everyone loves competition am I right? I offer higher rates than EBank if I start growing to an adequate size of EBank then EBank raises interest rates and then all depositors win!
In all seriousness I do understand that I have a lot of work ahead of me if I am going to be able to compete with EBank or Fury. I do hope to achieve this point as well as work along with them to get an adequate universal Credit Rating system established.
Also, anyone have Fury site link? I can't find it for the life of me. Everything I can get is in game information.
Dynasty Banking |
Roguehalo
Caldari
RH Ship Brokers
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Posted - 2008.02.25 07:44:00 -
[25]
"Note: There is a limited rate of deposit of 500M/month for a customer. This means all Accounts and CD deposits may total up to but not more than 500M"
This sentence from your bank interface doesn't really make any sense and needs revising.
I assume you have now capped accounts at 500m which means you should remove the reference to 500m/month
Good look in your venture
Note to certain md regulars :-
Being new
Being smalltime
Being inexperienced
Is not in itself an automatic indication that an offering is a scam
Of course it's also not an automatic indication of genuineness either
So lets try and keep an open mind, do some research and judge offerings on their MERITS
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Manalapan
Dynasty Banking
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Posted - 2008.02.25 08:24:00 -
[26]
This is actually supposed to reference a capped deposit rate. It allows for large accounts but it takes time to deposit that much isk into them. The rate at which you may deposit is capped at 500M but the accounts remain uncapped. I do not wish to have capped accounts but due to some concern as to that I have capped account growth rate to handle issues with trade capabilities that were earlier expressed.
Dynasty Banking |
Ambo
2nd Outcasters
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Posted - 2008.02.25 09:00:00 -
[27]
You seem a decent enough sort and I have quite a bit of spare cash lying around atm (lack of IPOs recently ). Consequently, I'll take a 500 mil, 4 month CD for a test drive. I'll set it up when I'm next online. Good luck.
--------------------------------------
Trader? Investor? Just want to track your finances? Check out EMMA |
Hexxx
Minmatar
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Posted - 2008.02.25 12:39:00 -
[28]
Originally by: Manalapan
Everyone loves competition am I right? I offer higher rates than EBank if I start growing to an adequate size of EBank then EBank raises interest rates and then all depositors win!
In all seriousness I do understand that I have a lot of work ahead of me if I am going to be able to compete with EBank or Fury. I do hope to achieve this point as well as work along with them to get an adequate universal Credit Rating system established.
Also, anyone have Fury site link? I can't find it for the life of me. Everything I can get is in game information.
I doubt EBANK will raise it's rates. In terms of knowing your competitors, here's the highlights:
1) FuryBank competes via rate of return, in terms of Banking you can't beat the rates that FuryBank provides. It's around 7% per month and in terms of total funds, FuryBank is also on top at the moment.
2) EBANK competes via convenience and services, having a highly functional website with lots of bells and whistles. Also, since multiple people run EBANK, it has some added marginal benefits (multiple tellers for fast withdraws and it's run by a Board of some well known MD regulars). However, as most people know, the rates are quite low (1.5% for checking, 3% for savings, up to 4% on bonds)
You'll need to figure out how you're going to compete. A better website? Higher rates? Something else? Remember; both Banks have the leg-up in terms of reputation as well and experience handeling large sums of money (FuryBank and EBANK handle well over 150 billion isk EACH).
If you're trying to compete on rates, you should pay more attention to FuryBank than EBANK. If you want to compete on services, you should pay more attention to EBANK than FuryBank. If you want to do something different and compete on another level...well....good luck to you sir. =)
Consulting, IPO Template, and Stock/Bond definitions.
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YouGotRipped
Gallente
Ewigkeit
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Posted - 2008.02.25 13:26:00 -
[29]
Edited by: YouGotRipped on 25/02/2008 13:34:36
I have perused a few posts, however...
This is quite a case of win/win for the present banks.
If it turns out to be a scam/failure then it will surely set a precedent for future bank IPOs while reinforce the current banks position even with their low returns.
If it's not a scam, well it just won't be a problem competing with it given the small scale and relative inexperience of the OP.
I personally would take E-bank over other banks anytime mainly because the conveniences and services if not for the fact that it's run by a board of people, (I have special consideration for Shar and his little dog too) those people being closer to the community and whatever events transpire here than any other bank runner. Call me biased but that's the way I see it.
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Danny Armstrong
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Posted - 2008.02.25 13:57:00 -
[30]
What about the future? What will happen in 6 months time when you are succesfull and the workload become too much for you to handle alone?
What happens when you get hit by a bus?
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Hexxx
Minmatar
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Posted - 2008.02.25 14:19:00 -
[31]
Originally by: YouGotRipped
Edited by: YouGotRipped on 25/02/2008 13:44:28
I have perused a few posts, however...
This is quite a case of win/win for the present banks.
If it turns out to be a scam/failure then it will surely set a precedent for future bank IPOs while reinforce the current banks position even with their low returns.
If it's not a scam, well it just won't be a problem competing with it given the small scale and relative inexperience of the OP.
I personally would take EBANK over other banks anytime mainly because of the conveniences and provided services if not for the fact that it's run by a board of people, (I have special consideration for Shar and his little dog too) those people being closer to the community and whatever events transpire here than any other bank runner. Call me biased but that's the way I see it.
In my humble opinion, Banks are challenging to run. I think the way EBANK runs itself is rather effective and "stable" and the website is a massive help (I'm referring to the sheerly massive number of withdraws we've processed using our own custom withdraw management tool). It's still alot of work and honestly; even with EBANK as it is now...it would be nearly impossible for one single person to run it and be just as effective as it is now.
Again, just my opinion, but I'd like Banks in the future to try and do the following:
1) Be run by a Board of 2 or 3 people at the minimum.
2) Have some kind of limited website or tool that helps them run smoothly.
Now that said...Banks can be very dangerous. Anyone who knows about EIB knows that alot of damage can be done. This is why we've tried to have real-time statistics and monthly reports. I'd recommend something similiar for this paticular idea (FuryBank does great reporting too).
Consulting, IPO Template, and Stock/Bond definitions.
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Manalapan
Dynasty Banking
|
Posted - 2008.02.25 21:15:00 -
[32]
Quote:
2) EBANK competes via convenience and services, having a highly functional website with lots of bells and whistles. Also, since multiple people run EBANK, it has some added marginal benefits (multiple tellers for fast withdraws and it's run by a Board of some well known MD regulars). However, as most people know, the rates are quite low (1.5% for checking, 3% for savings, up to 4% on bonds)
I have looked much more in depth at EBANK and especially how their system works and I am currently working with my web designer to develop a system of similar capacity. Currently only viewing account balances and information is available online a deposit and withdrawal system (beyond the current opening accounts) will be implemented soon. I do also understand that if I am the only player running Dynasty Banking there is less considerably less convenience then there could be so I will be looking at creating a board in the very immediate future of about 2 other characters.
Quote:
What happens when you get hit by a bus?
I would be very sad, but of course this would be a good example of a need for other members operating the bank.
Dynasty Banking |
Hexxx
Minmatar
|
Posted - 2008.02.25 21:31:00 -
[33]
Originally by: Manalapan
Quote:
2) EBANK competes via convenience and services, having a highly functional website with lots of bells and whistles. Also, since multiple people run EBANK, it has some added marginal benefits (multiple tellers for fast withdraws and it's run by a Board of some well known MD regulars). However, as most people know, the rates are quite low (1.5% for checking, 3% for savings, up to 4% on bonds)
I have looked much more in depth at EBANK and especially how their system works and I am currently working with my web designer to develop a system of similar capacity. Currently only viewing account balances and information is available online a deposit and withdrawal system (beyond the current opening accounts) will be implemented soon. I do also understand that if I am the only player running Dynasty Banking there is less considerably less convenience then there could be so I will be looking at creating a board in the very immediate future of about 2 other characters.
Quote:
What happens when you get hit by a bus?
I would be very sad, but of course this would be a good example of a need for other members operating the bank.
Here's a free tip...the most manually intensive part of running a Bank is handeling withdraws. Spend some time making an easy withdraw tracking management system the shows requests and the status of those requests. Record dates and times to measure how quick you can turn it around.
Consulting, IPO Template, and Stock/Bond definitions.
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Manalapan
Dynasty Banking
|
Posted - 2008.02.25 21:43:00 -
[34]
Quote:
Here's a free tip...the most manually intensive part of running a Bank is handeling withdraws. Spend some time making an easy withdraw tracking management system the shows requests and the status of those requests. Record dates and times to measure how quick you can turn it around.
Thank you for the advice. I will be doing that having the information available for each account as well as placing stats for public viewing.
Dynasty Banking |
Hexxx
Minmatar
|
Posted - 2008.02.25 22:22:00 -
[35]
Originally by: Manalapan
Quote:
Here's a free tip...the most manually intensive part of running a Bank is handeling withdraws. Spend some time making an easy withdraw tracking management system the shows requests and the status of those requests. Record dates and times to measure how quick you can turn it around.
Thank you for the advice. I will be doing that having the information available for each account as well as placing stats for public viewing.
That's one step of many that you'll need to do to get this off the ground. However, doing so will save YOU alot of headaches.
You still need to tackle the whole trust issues and figure out how you'll scale your operation upwards and compete with EBANK and FuryBank for customers. Providing a slightly better return and a semi-decent website might be enough, it's hard to say.
Also, in terms of providing loans, EBANK and Big Merchant Bank of EVE (BMBE) are your competitors on that front. Not sure that FuryBank is too active in that space.
Consulting, IPO Template, and Stock/Bond definitions.
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Manalapan
Dynasty Banking
|
Posted - 2008.02.26 02:45:00 -
[36]
Hexxx I want to thank you alot for the advise you have given me. I am currently planning most advances around information you have provided. So, Thank You.
Dynasty Banking |
Hexxx
Minmatar
|
Posted - 2008.02.26 02:51:00 -
[37]
Originally by: Manalapan
Hexxx I want to thank you alot for the advise you have given me. I am currently planning most advances around information you have provided. So, Thank You.
If you read the stickies and do some searching, you'll realize I've posted pages upon pages of improvements for the market around here.
Before I joined EBANK I was defining IPO templates, consulting, running a few workshops on trade, and working to bring matuation to the markets in general.
Let me explain why more Banks are a good thing;
To this day, we still have a shortage of investment opportunities. There are more people with money that they want to invest than there are investments available to them. THIS is part of what allows EBANK to get away with such low interest rates.
If the Markets are to grow, we need more investment vehicles to accomodate MORE people.
All that said, Banking is not easy, it's potentially risky, and it's alot of work. I'm not endorsing you here, but good luck with this. I'll answer any other questions you (or anyone else) has on the subject.
Consulting, IPO Template, and Stock/Bond definitions.
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hanshu virindi
|
Posted - 2008.02.26 05:23:00 -
[38]
I have been a member of Dynasty Corp for about 5 months now.. most of the time I have been in EVE. I realize I do not have the resources others have in the game, but I have used the bank for a loan and have had a savings account for 2 months.
I did have one problem early on with a deposit which Daallie/Manalapan resolved to my satisfaction. Interest has been credited to the account as promised.
I realize my reference may not amount to much to those of you who have been around longer and spent more time on the boards, but I have found Daallie true to his word with the bank and corporate matters.
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Kwint Sommer
Lothian Quay Industries
Zzz
|
Posted - 2008.02.26 08:04:00 -
[39]
Originally by: hanshu virindi
I realize my reference may not amount to much to those of you who have been around longer and spent more time on the boards
It's not a question of who was here first or who spends the most hours, yougotripped spends tons of time here and his word is worth so little that an endorsement by him is a red flag. It's about reputation, something that one earns. Having posted a grand total of 1 thing on the forum in your entire tenure in EVE and having done nothing that I can see as noteworthy, your reputation is a tad underdeveloped. Add to that the fact that you have no standings and joined a corp within 2-weeks of joining the game and I'd say there's a distinct possibility that you're an alt. I'm not leveling any allegations, I'm just saying that absolutely nothing points towards you being someone whom we can we trust, you can fix that by establishing a reputation be it in-game or here. In the meantime, I prefer to err on the side of caution with my investments and a guy that thinks he can out-trade some of the biggest business men in the game despite having less than 10B under his belt and that has no major references or history is not a cautious investment. Maybe in a few months when you've backed up your claims but now you're long on promises and short on proof.
5% Mining & Manufacturing Implants |
Brun Thorvald
|
Posted - 2008.02.26 12:53:00 -
[40]
Hexxar, you may wish to talk to your people in Ebank about tossing small customers they dont want to deal with to the new upstart ?
Manalapan, weird as this sounds you might want to look at depositing a decent chunk of change and/or other collateral (say, BPOs) with your competition ? This can reassure people that there will be something to repay them with in the case of you heading to Delve with a bag of cash.
And for the record, I've never dealt with this guy in Eve, am an alt, and do this sort of stuff IRL for a living (I'm *shudder* a finance guy) ... but I'm thinking the kid is willing to both give it a go and listen to advice. I'd certainly toss him some change and see how he goes.
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Hexxx
Minmatar
|
Posted - 2008.02.26 13:43:00 -
[41]
Originally by: Brun Thorvald
Hexxar, you may wish to talk to your people in Ebank about tossing small customers they dont want to deal with to the new upstart ?
Manalapan, weird as this sounds you might want to look at depositing a decent chunk of change and/or other collateral (say, BPOs) with your competition ? This can reassure people that there will be something to repay them with in the case of you heading to Delve with a bag of cash.
And for the record, I've never dealt with this guy in Eve, am an alt, and do this sort of stuff IRL for a living (I'm *shudder* a finance guy) ... but I'm thinking the kid is willing to both give it a go and listen to advice. I'd certainly toss him some change and see how he goes.
There is no difference between large and small customers in EBANK. Withdraws are simply just numbers and everything else is automated. Further, numerous smaller customers actually help limit the volatility of EBANK's funds (smaller withdraws have less impact on overall liquidity). People are free to withdraw all of their money from EBANK or even a portion to deposit in this guy's Bank, but I can almost say with 100% certainty that there is no way on earth the Board would ever try to "push" customers towards something or someone.
Consulting, IPO Template, and Stock/Bond definitions.
|
Manalapan
Dynasty Banking
|
Posted - 2008.02.26 15:25:00 -
[42]
Quote:
Manalapan, weird as this sounds you might want to look at depositing a decent chunk of change and/or other collateral (say, BPOs) with your competition ? This can reassure people that there will be something to repay them with in the case of you heading to Delve with a bag of cash.
I am a little confused as to how that would increase how comfortable everyone is with me. I do understand that characters like to know that I have a ton of on hand cash so they know they can make a withdrawal if they so desire but I feel that having some money deposited in EBANK would effect everyones comfort levels none. If you care to elaborate this reasoning I would be happy to look into it.
Dynasty Banking |
Brun Thorvald
|
Posted - 2008.02.26 18:55:00 -
[43]
Originally by: Manalapan
I am a little confused as to how that would increase how comfortable everyone is with me. I do understand that characters like to know that I have a ton of on hand cash so they know they can make a withdrawal if they so desire but I feel that having some money deposited in EBANK would effect everyones comfort levels none. If you care to elaborate this reasoning I would be happy to look into it.
The issue is "Rio Risk" - that we all wake up one morning and find Dynasty Banking has ceased to exist, that the cash then goes to an Alt and you buy another toon with the scammed cash and keep playing with the blah billions left over.
"Rio Risk" is seperate from 'liquidity risk' of the cash not being there when the bank still wants to keep it's doors open - and remember, you're covering liquidity risk from your POV by offering bonds with repayment dates and repayment penalties, right.
Having some of the security in Ebank will reassure people against Rio Risk, as Ebank (with your consent) can verify 'Yes, they do have a Blah, a Blah and a Blah. We're holding it, and if they ... liquidate ... then it exists and we can try and restore the good name of banking in Eve by selling the assets and doing what we can to return the money to their customers'.
Banking is a trust-building exercise - and over time, Dynasty Bank can stand by itself, without the need to leave big, illiquid assets with someone else as security.
And by the way, Ebank probably will hold it for you, because they have hit high-withdrawl periods in the past(cf their recent deposit advert), and having another Bank around that they can tap for a couple of B's on short notice to tide them over to the weekend will be handy for them(and you'll want to do that, because if you're a Bank, bank runs are bad for everyone). That and the small fee, of course.
You're a new bank. Take the money in 10-100m tranches, get a rep for paying them back with interest. Start as overcapitalised, and build your business.
Eve is growing fast enough that in an environment of general price deflation, it's banks are still are able to offer 4% a month (!) interest. You want to be an established bank in 12 months, believe me, and if that takes growing slower in months one to six, then you do that.
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Hexxx
Minmatar
|
Posted - 2008.02.26 19:12:00 -
[44]
Very nicely written...
And yes, Banks being able to loan each other cash for short periods of time allow ALL Banks to utilize MORE of their own money. Unfortunately for EBANK, BMBE and FuryBank loans are too "expensive" for us to utilize effectively. EBANK is effectively unable to tap any credit or borrow money to meet immiediate liquidity demands...hence the Bank maintains a rather large amount of cash....that sits there and does absolutely nothing.
When credit markets are tight, Banks have to be more cautious since they have a more limited access to borrowed funds (credit). This means setting aside MORE cash than usual to meet reserve obligations which means LESS money utilized for loans which means LESS profit for the Bank.
Hey! Sounds like what the RL economy is going through right now....because it is! 
Consulting, IPO Template, and Stock/Bond definitions.
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Will1892
|
Posted - 2008.02.27 02:18:00 -
[45]
I've been a member of Dynasty Corperation for about 4 months now. I've personally just deposited 100 million into a standard account with Dyco Bank. Its all very legit and I can assure that Dyco Corp can back up all deposits.
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Kwint Sommer
Lothian Quay Industries
Zzz
|
Posted - 2008.02.27 02:33:00 -
[46]
Originally by: Will1892
I've been a member of Dynasty Corperation for about 4 months now. I've personally just deposited 100 million into a standard account with Dyco Bank. Its all very legit and I can assure that Dyco Corp can back up all deposits.
Unlike the previous character claiming the bank is legit, you have posted before on the forums, you sold a game time card but that's it. You also have no standings and joined a corp less than 4 days after being created. Again there's a substantial possibility that you're an alt and again you have no reputation. 
5% Mining & Manufacturing Implants |
Dr Clark
Universal Transporation Solutions
|
Posted - 2008.02.27 02:42:00 -
[47]
Kwint,
Give the guy a chance please. Any time someone posts, hey I support Dynasty Bank, wham your there discrediting the person. I am a happy EBANK customer. But yes, I am moving 60 million of what I had with them to Dynasty to see how it goes. I suppot them and there ideas. SO, you going to discredit me now?
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Trading Bunnz
Deep Core Mining Inc.
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Posted - 2008.02.27 02:47:00 -
[48]
Quote:
...Unfortunately for EBANK, BMBE and FuryBank loans are too "expensive" for us to utilize effectively...
Frankly, this is a very worrying, and misleading, statement coming from you Hexxx. The problem is not that the loans are too expensive, its that you don't charge enough or earn enough from your investment portfolio or use of capital and you find it better to sit on a whopping pile of cash to meet potential obligations.
In the long term, that will see you slip further and further behind FuryBank. BMBE is a slightly different kettle of fish, given as far as I am aware they don't offer deposit services and therefore have very limited need to retain liquid cash for anything except extending more loans.
If you sit on 10b of cash, and could be earning 5%/mth on that, that means you are forgoing 500m/mth in revenue because, in the event you needed cash, you may have to pay FuryBank 3.5% interest on 10b for a week to cover withdrawls while you liquidate some assets, then its a false economy, as even having to do that, your operation is ahead 150m. (Rates used are "for example" only!)
Yes, I understand the need to keep liquid assets on hand, even cash, but assuming that the other offerings are "too expensive" to utilise shows a remarkable lack of judgement. Of course, that statement could just be you simplifying for a wider audience, I'm not sure, but I felt oblidged to post comment on it in case it actually reflects a widely held believe amongst the ebank board.
Trying to do everything yourself is well and good, but it cripples your operation. In fact, you don't even have to have those kind of arrangements just with other banks (fury/bmbe) but should also have negotiated "cash crunch" arrangements with private investors. Many people would jump at a chance to loan you 1b for a week, with a 2-4% interest rate, with funds required with minimal notice. A network of 10-15 of these people, arrangements with FuryBank/BMBE, and you can significantly increase the amount of your invested capital you have working for you.
But maybe you don't care. As long as you invest enough to cover your outgoing interest payments and continue to meet your withdrawl obligations, you have no shareholders who should be screaming at your inefficiency. One of the advantages of a private company. 
(Sorry for the derail, good luck with Dynasty, I'll be watching it closely but I must say you have a long way to go before I would consider your offerings for my ingame banking needs!)
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Kwint Sommer
Lothian Quay Industries
Zzz
|
Posted - 2008.02.27 02:56:00 -
[49]
Originally by: Dr Clark
Kwint,
Give the guy a chance please. Any time someone posts, hey I support Dynasty Bank, wham your there discrediting the person. I am a happy EBANK customer. But yes, I am moving 60 million of what I had with them to Dynasty to see how it goes. I suppot them and there ideas. SO, you going to discredit me now?
The last time I checked, performing basic background checks was something the members of this forum appreciated...but if it makes you feel better about who you're investing in you can always pretend they're a well respected member of the community or has someone vouching for them that has a reputation or at the least definitely isn't an alt....whatever you want to tell yourself, go right ahead.
5% Mining & Manufacturing Implants |
Dr Clark
Universal Transporation Solutions
|
Posted - 2008.02.27 03:00:00 -
[50]
It has nothing to do with making me feel better. And yes im sure people appricate the backround checks. However, you have responded in kind to every post someone as made here about supporting them. Just looks like your picking on em. If ur right though lol, im going to eat my words and my 60 mill. Now back on topic.
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Ricdic
Caldari
Corporate Research And Production Pty Ltd
Zzz
|
Posted - 2008.02.27 03:48:00 -
[51]
Originally by: Trading Bunnz
Quote:
...Unfortunately for EBANK, BMBE and FuryBank loans are too "expensive" for us to utilize effectively...
Frankly, this is a very worrying, and misleading, statement coming from you Hexxx. The problem is not that the loans are too expensive, its that you don't charge enough or earn enough from your investment portfolio or use of capital and you find it better to sit on a whopping pile of cash to meet potential obligations.
The statement by Hexxx was related to raising more capital to fund loans requested of us not ensuring liquidity in customer withdrawals. We have had runs on the bank and dealt with them without issue or without requiring external funding. We do have 3rd party private entities offering large capital injections to EBANK for set rates if a large run on the bank occured but it would have to be quite phenomenal to actually be required.
We had/have a situation where there are far more requests for good quality loans than there are funds in EBANK. However if we obtained funding by another bank (such as Fury) we would make very little if any profit off the client. As an example I believe Fury wouldn't deal in anything below 9% per month (due to their HIA's paying out near this at minimum). If we offer a client a loan at 10%, then we are dealing in all the administrative work (including selling off assets in event of a default) for an amount not worth our time.
Therefore EBANK have been releasing bonds. The public are interested in investment packages, and if our demand for funding exceeds that which we can obtain we will offer higher rates to the public to entice investments (or decline the loan depending on values).
Quote:
In the long term, that will see you slip further and further behind FuryBank.
Fury has some extremely large interest repayment requirements to it's clients (HIA's at 8-9%) which can be negative in two ways. First it means their loan offerings need to be at higher rates, and secondly it means idle capital can be far more damaging in terms of meeting requirements. Having said that, Fastlearner deals with his situation quite well.
Quote:
If you sit on 10b of cash, and could be earning 5%/mth on that, that means you are forgoing 500m/mth in revenue
Agreed, however in terms of capital not in use I dare say EBANK hold far less funds on hand due to our reserve funds (externally sourced) sitting close to 60b, and we have far more loans in progress than BMBE (unsure about FURY though). I know with BMBE as you can see by their reports they have only a small amount of loans running (unsure on their capital on hand)
Quote:
but should also have negotiated "cash crunch" arrangements with private investors. Many people would jump at a chance to loan you 1b for a week, with a 2-4% interest rate, with funds required with minimal notice.
As above we have precisely this scenario in effect. It would take approximately 80% of our customerbase (600 customers) to mass withdraw at once for us to run out of reserve funding.
Quote:
A network of 10-15 of these people, arrangements with FuryBank/BMBE, and you can significantly increase the amount of your invested capital you have working for you.
This is currently in play, except that BMBE/FL aren't on board with our reserve funders (that we are aware of)
Quote:
But maybe you don't care. As long as you invest enough to cover your outgoing interest payments and continue to meet your withdrawl obligations, you have no shareholders who should be screaming at your inefficiency. One of the advantages of a private company.
There is no inefficiency. We have superb growth and reinvestment portfolio's, EBANK's personal NAV is close to 10-15b (funds owned by EBANK through profits) and we definetly don't limit our workload to only cover customer payments. Next post will show what I mean
http://oldforums.eveonline.com/?a=topic&threadID=500043
Largest Empire Research Alliance in EVE! |
Astorothe
Aperture Science Industries
|
Posted - 2008.02.27 03:51:00 -
[52]
I would have thought you would have made much more profit than that.
Eve Web Design | Eve Addicts | RPGN.net |
Ricdic
Caldari
Corporate Research And Production Pty Ltd
Zzz
|
Posted - 2008.02.27 03:56:00 -
[53]
Our stats page clearly shows money in and money out.
Here's some interesting stats:
Total Account Balance: 150,730,581,591.32
Total Lent: 143,700,000,000.00
We also hold approximately 20b worth of public stocks and funds that aren't shown on our stats page that pay out regular interest repayments.
In terms of profits and growth :
Total Interest Paid last 7 days: 800,015,973.21
Total Interest Earned last 7 days: 2,673,856,214.43
Total Interest Paid last 30 days: 3,089,501,747.95
Total Interest Earned last 30 days: 8,140,413,015.19
As you can see, we keep very conservative levels of isk on hand and this is structured around historical withdrawal/deposit tendencies of the public. As we grow we get more statistical data available for us to help determine funds on hand requirements, the effects of runs on the bank, new PR and advertising campaigns and general customer trends to ensure we are running EBANK as efficiently as is physically possible. We are by no means lazy in terms of profit generation nor do we enjoy keeping large amounts of capital on hand that aren't required.
I hope this helps Bunnz.
I do apologise to the OP, I felt the issue needed answering and didn't want to start another EBANK thread to do so.
I agree with Dr Clark in that I think Kwint is going a little hard on people. It almost looks like sabotage in it's presentation and the guy can only have so many alts . To the OP, how many customers do you have in total?
http://oldforums.eveonline.com/?a=topic&threadID=500043
Largest Empire Research Alliance in EVE! |
Kwint Sommer
Lothian Quay Industries
Zzz
|
Posted - 2008.02.27 03:56:00 -
[54]
Originally by: Dr Clark
It has nothing to do with making me feel better. And yes im sure people appricate the backround checks. However, you have responded in kind to every post someone as made here about supporting them. Just looks like your picking on em. If ur right though lol, im going to eat my words and my 60 mill. Now back on topic.
I'm saying he doesn't have anything near the reputation or experience to publicly run a bank and having 2 guys that are indistinguishable from alts post that they've deposited trivial sums with him in the past doesn't do a thing to change that. Given those facts this is either a waste of time or worse.
A bank is the pinnacle of public offerings, the absolute tip of the pyramid. He's trying to start there and presenting himself as some sort of god of trading to boot. Still wonder why I'm so dismissive of it?
Don't get me wrong, I hope he's legit and can do everything he claimed he can and we have a new high-interest, high-volume bank. But he's got a long way to go before he's in a position to run a bank. You all should really research why the old players in EVE all distrust banks....
5% Mining & Manufacturing Implants |
Kwint Sommer
Lothian Quay Industries
Zzz
|
Posted - 2008.02.27 03:59:00 -
[55]
Originally by: Ricdic
the guy can only have so many alts
I've suggested that 2 have nothing to indicate they aren't alts. Since when is that a rediculously high number for someone to have?
5% Mining & Manufacturing Implants |
Kushion
Anti Sweden Defense Force
|
Posted - 2008.02.27 06:07:00 -
[56]
Originally by: Dr Clark
However, you have responded in kind to every post someone as made here about supporting them.
Are you saying his findings aren't valid? I find it very interesting that the only people offering support of the OP's project are alts... if alts post, they should be called out. The point of having people support you is their reputation. Alts don't have a reputation.
--
Taggart Transdimensional corporation - | Capitalism | Objectivism | 0.0 | No taxes | No mandatory ops | Join channel TAGGART for more info | |
Trading Bunnz
Deep Core Mining Inc.
|
Posted - 2008.02.27 06:29:00 -
[57]
Thanks for the response Ricdic.
Regarding the op, I'm one of the many middle-range customers that you would want to make your bank profitable. There is zero reason given in this thread for me to trust you. Unlike a large number of bank users, trust isn't really that huge a deal, as typically i'm a borrower, not a depositer, but still, giving you 5b in collateral in the hope that you'll then give me 4.5b in iskies is not a situation I'd feel comfortable with. :)
You don't mention anything here about loan rates, securities accepted etc.
With current banks, I have a rough idea of who has what funding available, what security level is required, what they'll take as security and the kind of rates they both offer. In addition, I know where and how to find them when I "zomg need iskies right this very second to scoop a deal", which is what most of my loans are for.
The bells and whistles of EBANK don't really appeal. I keep scribbled notes all over my desk with any important information and barring my partner deciding she needs to clean my desk (god bless her!), I know what I owe, when and how much its costing me. So advice from Hexxx to get the website functions up is probably more targetted at securing the depositer market than the loan market.
Availability is whats primarily required, speaking as a borrower.
And confidence. Confidence that you can deliver on your commitments. FuryBank has a reliable, justified, publicly known outlet for his capital in the bank. We know, through various means, that he CAN and WILL pay his stated interest rate. EBANK provides flashy stats to tell us their health. When its all publicly available information like that, confidence grows.
Just my opinions of course, but while banks may fight for depositers, its borrowers (or some other effective strategy for held capital) they need to stay in business. ;)
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LaVista Vista
Conservative Shenanigans Party
|
Posted - 2008.02.27 06:40:00 -
[58]
Well, one of the initia problems that arise is the fact that for you to success, you need a fairly good starting capital.
1. You need a decent amount of isk to loan out.
2. You need a decent amount of liquid isk if any withdrawls are requested.
3. You need a decent amount of isk for investments, to keep a sustained growth of the bank.
I dont see it possible to do this with less than 5-10 bill. So i think if you do manage to get enough trust to actually have this much deposited, i suppose your all fine. But until then, i see no reason to trust that you can even handle a bank, unless you actually have managed to throw around with at least 50bill in cash, and not fail.
But before you even consider that, trust have to be gained. As Hexxx pointed out, you really need something like a board of directors, who people know. It shouldnt be too hard, but it of course requires that the board of directors trust you, as their name will be gone to hell if you ever scam.
I for one wish you good luck.
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Gagan Sandrider
Salvage and Mining Consortium
|
Posted - 2008.02.27 12:34:00 -
[59]
Just wanted to post a quick comment. I am as sceptical a person as most you would find on these boards. No i havent't posted much and yes this is my main.
I have made a small deposit with Dynasty Bank to test the waters as it were. Only time will tell if i have been foolish or if Manalapan is capble of running a decent operation.
Personally i am willing to give him a chance.
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Mr Horizontal
Gallente
KIA Corp
KIA Alliance
|
Posted - 2008.02.27 12:47:00 -
[60]
Points:
- As Dynasty bank is expected to raise capital and rely on the performance of Dynasty corp, this makes it almost identical to FuryHoldings / FuryBank setup.
- Comparing the banks is horses for courses. EBANK is designed to be huge and safe, while the others are designed to be lean and mean.
- 2 of the banks: BMBE and EBANK are designed to be self-sufficient banks in their own right. Fury and Dynasty are 'pseudo' banks because profits aren't reinvested into the banks after interest obligations are met, but rather to shore up support for other operations.
- BMBE, Fury and EBANK have all started by advising their intentions, all had managers with verifiable previous public experience.
- Given Fury and Dynasty being practically identical setups, the fact Dynasty only 'beats' Fury's performance with 3 or 4 month CD's is a major sticking point, especially given the higher risk bracket and the lower reward.
Now my 2 isk:
Even though I'm directly connected with EBANK, I've not intentionally been biased above toward it. Ironically I have about an equal interest in terms of deposits in BMBE and Fury as well as EBANK. That said, I prefer a more cautious and hedged risk approach than Ambo's general preference to ultra-high risk shares, so I won't be putting any cash in Dynasty... yet.
That all said, Daallie, I think it's preferable if you could fill in the 'unknowns' in your Dynasty stats as well, and in the process endeavour to publish these regularly. All the other banks do this, and as you can see public trust is earned, in part by disclosure and in part by past performance of those running it.
Given the direct similarities between Dynasty and Fury, my personal suggestion would be for you to get a history of launching successful IPOs prior to launching Dynasty. It will help you gain trust in spades.
Do that, and you may also find the odd 500m+ come Dynasty's way from me too :)
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Hexxx
Minmatar
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Posted - 2008.02.27 13:21:00 -
[61]
Nice post Mr. H.
Director | www.eve-bank.net
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Ambo
2nd Outcasters
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Posted - 2008.02.27 13:23:00 -
[62]
Hehe, tis true that I tend to gravitate towards the higher risk offerings.
Bear in mind the fury is still not allowing creation of new HIAs otherwise I'd have a significant amount of money held there atm. Sadly, I clsoed my old account just a few weeks before this happened so havn't been able to get a new one. Should have left just 2 isk in or somthing.
--------------------------------------
Trader? Investor? Just want to track your finances? Check out EMMA |
Manalapan
Dynasty Banking
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Posted - 2008.02.27 14:14:00 -
[63]
Well awaking to what appears to be a very heated night of discussion here it goes.
Quote:
Are you saying his findings aren't valid? I find it very interesting that the only people offering support of the OP's project are alts... if alts post, they should be called out. The point of having people support you is their reputation. Alts don't have a reputation.
My Main: Daallie
Alt: YinandYang
Alt: Manalapan
You did know that already. Also, I do understand that many of you are going to express concern at the start up and the matter that I have few very reputable members having deposited in the bank should really be expected since the bank did just become more than a corporate service. The expectation that I would have several highly MD active and reputable customers prior to the bank's release is slightly absurd. Even though with that I do hope that given some time those that been willing to test the waters with Dynasty Banking will begin to provide lots of open support.
Quote:
You don't mention anything here about loan rates, securities accepted etc.
That information will be posted later today as myself and the board (yes i am making a board) come to some adequate standards.
Quote:
Well, one of the initia problems that arise is the fact that for you to success, you need a fairly good starting capital.
1. You need a decent amount of isk to loan out.
2. You need a decent amount of liquid isk if any withdrawls are requested.
3. You need a decent amount of isk for investments, to keep a sustained growth of the bank.
I dont see it possible to do this with less than 5-10 bill.
I have no expectations for the first couple of months than for people to begin simply testing out the bank. The first month or two of the bank does not need to be heavily dependent on loan income. It is very easy with less than 5-10B to maintain the interest rates via trade and small investments. Its only at grand scales that would mandate large loans, and when that point is reached the capital is there either way. Our hope is that over the next few months characters will slowly grow to trust Dynasty Banking. I am not looking to be a competitor of EBANK or Fury for quite some time.
Quote:
- Dynasty is incomparable starting with less than 1% of the other 2.
It is very unfair to base your prospects of a new bank around its size compared to banks that have been around for quite some time. Expecting a bank to start with a sizable amount of capital relative to EBank or Fury is quite absurd if you would ask me. However, thank you for those statistics you posted. Gives me an idea of reserve ratios.
Quote:
Dynasty is High risk due to being run by 1 not very reputable person and is expected to have massive exposure to Dynasty Corp.
I never claimed it not to be a risky idea. As with all aspects of eve there is no rock solid garantee with your isk. I do personally guaranty all deposited funds. I do understand not being a reputable person that that may not stand for much but I would prefer not to go and destroy my reputation.
Quote:
That all said, Daallie, I think it's preferable if you could fill in the 'unknowns' in your Dynasty stats as well, and in the process endeavour to publish these regularly. All the other banks do this, and as you can see public trust is earned, in part by disclosure and in part by past performance of those running it.
Yes, right now we are developing public viewable stats on our site that are automatically updated with changes in the bank. Also we will be posting monthly reports there as well as here on the MD forums.
I do understand that I have a long way to go before I will be even a small percentage of Ebank or Fury, but I do plan on sticking with this and most of you seem to be interested but not yet convinces of the idea. I am going to be taking all of your advise and implementing it asap. We have a lot of work over the remainder of the week. Thank You.
Dynasty Banking |
cosmoray
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Posted - 2008.02.27 15:46:00 -
[64]
I am glad to see that you are taking time to reply to all questions, and in a calm and meaningful way. This gives me more confidence in you personally.
I truly hope that you can get the bank going as competition breeds innovation, and makes the game better.
One suggestion. I think if you can find board members for your bank, you should announce them and get them to post here or in a new thread (preferred). Even if you get 1 person with some good MD credibility it will go a long way to ensuring a successful launch.
When announcing a board member, it should be stated:
1. What role the board member has
2. Exposure to bank (putting money in or gauranteeing funds)
3. Access to assets
4. Accountability
5. Are they receiving shares
6. Compensation
7. etc...... you get the idea
This will help give the MD forum a total picture.
A good start!
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Amarr Citizen 155
Alternative Methods Research Group
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Posted - 2008.02.27 16:16:00 -
[65]
Edited by: Amarr Citizen 155 on 27/02/2008 16:18:14
Originally by: Manalapan
That information will be posted later today as myself and the board (yes i am making a board) come to some adequate standards.
So you are making a board today and you and the board are going to meet today and figure out all the details today. You might want to spend a little bit more time on working out the details. Here's how I would do it:
Step 1. Selection of board members
Contact and confirm your selected members and post here with the information requested from an above post. Have those members post here to confirm.
Step 2. Schedule your first meeting/Create an agenda
You should go into further detail about each member's specific roles in your bank so that each member understands their role and the roles of the other members. You should also discuss what types of products and services you want to offer and the feasibility of each.(no need to discuss the specific details of each product and service as that should come later). Next you need to develop your policies and procedures for.....everything. And i do mean everything. Hit by a bus, run on the bank, disclosure of customer information, public reporting of financial details, internal reporting, auditing process, board meeting schedule, who will provide notices to the public on the ban's behalf and how will those notices be prepared, the voting structure for board meetings, your bank's chain of command, and basically any other disclosure not listed here.(I'd say google some real world financial institution that offers similiar services and see what types of information you can find).
Step 3. Keep the community updated and informed.
If there is information that should be made public, then make it public. Negative as well as positive changes should be posted. If you lost some isk to a bad investment, don't leave it out of your monthly report. This all ties back in with the trust issue.
Step 4. Details are your friend
We can't stress this enough. Details, Details, Details!!! Document everything! Keep records of everything!!
Step 5. More board meetings, more details...
Schedule more board meetings to go over the specific details of the products and/or services. The more detailed your information the more likely you are going to realize success in marketing those products and/or services.
There are obviously more steps but that should get the ball rolling. I don't expect you to have all that done in a single day and honestly I would be worried if you did. Don't rush through the details.
Amarr Citizen 155
Disclaimer: Yes there are probably spelling/grammar errors. I am my own private entity and do not belong to any past/present eve financial institution and my opinions and words are MY OWN opinions and words. If you have a problem, hold me and only me responsible for my words.
----------------------------------------------
Why do it the hard way when you can do it the AMARR way. |
Kushion
Anti Sweden Defense Force
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Posted - 2008.02.28 04:01:00 -
[66]
Quote:
My Main: Daallie
Alt: YinandYang
Alt: Manalapan
You did know that already. Also, I do understand that many of you are going to express concern at the start up and the matter that I have few very reputable members having deposited in the bank should really be expected since the bank did just become more than a corporate service. The expectation that I would have several highly MD active and reputable customers prior to the bank's release is slightly absurd. Even though with that I do hope that given some time those that been willing to test the waters with Dynasty Banking will begin to provide lots of open support.
I'm not implying the two members of your corp that posted are your personal alts - but they look like alts nonetheless (for the reasons Kwint mentioned). It raises suspicion when only alt-like characters voice their support. It's not necessary for the people who voice support to be regular MD members - but it helps if they have some standings, contract history, maybe some posts on eve-o forums, etc. A *real* character - even if it has no forum reputation - is worth a lot more than an alt. The "support" of an alt is worth nothing - or perhaps less than nothing.
--
Taggart Transdimensional corporation - | Capitalism | Objectivism | 0.0 | No taxes | No mandatory ops | Join channel TAGGART for more info | |
Astorothe
Aperture Science Industries
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Posted - 2008.02.28 11:09:00 -
[67]
I'll probably throw a little ISK at this purely based on your handling of the MD-naught and I see you as good a risk as other things I have invested in. I like that your answering as many questions as you can, and remaining calm in doing so.
Deus Ex Machina ~ Eve Corp, Web Design & Gaming News |
Kwint Sommer
Lothian Quay Industries
Zzz
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Posted - 2008.02.28 16:49:00 -
[68]
Originally by: Astorothe
I'll probably throw a little ISK at this purely based on your handling of the MD-naught and I see you as good a risk as other things I have invested in. I like that your answering as many questions as you can, and remaining calm in doing so.
He called me a troll when I objected to his "bank" as well as calling Shardale ignorant. HeÆs ignored quite a few questions and pretty much just stopped posting in the other thread where this was continued and one of his "board" members produced a good fight-the-man speech...so I hope you'll understand how I came to slightly different conclusion
Not the best I've seen but still funny enough to include:
Originally by: Dr Clark
Treelox,
I feel it is time for me to weigh in on your, humm insights.
#1. You are by far the vocal person when it comes to say, bashing an IPO, or any idea if its not going to be run, or did not start off how you would start it. The world is not a perfect place, so get over it.
#2. Before you start nit picking others ideas, look at yourself and think, humm what could I have done diffrent. The man had an idea, and maybe research was not done as fast as you would have liked but we all are learning here.
#3. Now, insted of say, bashing the idea again, why dont you say give us some of ur humm, insights how you think it should be run and maybe we could implment your ideas. This is a community not a gangbang all kickin the hell outta the b**** in the middle.
This is how I feel and does not reflect Dysanty banking in anyway.
5% Mining & Manufacturing Implants |
Astorothe
Aperture Science Industries
|
Posted - 2008.02.29 07:47:00 -
[69]
Originally by: Kwint Sommer
so I hope you'll understand how I came to slightly different conclusion
To be honest I couldn't care less what your conclusion is - no offence, but it's true. You're a fellow MD'er and regular, and while I read and value your opinion, that's about it really. Your opinion weighs in with everyone elses at about the same level. As such, and using your own logic, I too have come to a different conclusion, and have chosen to invest in this.
I ~try~ to read these forums ignoring the emo & trolling as much as I can - Eve is just a flippin game afterall, right?
Could it be a scam? Sure. Is it for sure? I dont know - that's why I'm goin to take a punt. Has he been trolled and flamed? Yes. Did he eventually give some stick back? Sure. Do I care? Not really - couldnt care less about the trolling going both ways. Again, Eve is just a game to me, and it's the last thing Im thinking about on a Friday afternoon before a long weekend.
Ultimately, to be honest, I have an ulterior motive for "supporting" this Bank (if you can call it support, I dont care either way really). I wan't to take a punt as I would like to see another Bank on the market because I think it would lead to increased rates with the other ones! Shock gasp horror!
Bah, Ive rambled enough and probably goin to get some flack for it - later all enjoy the long weekend (Australians)!
Deus Ex Machina ~ Eve Corp, Web Design & Gaming News |
Kylar Renpurs
Dusk Blade
|
Posted - 2008.02.29 08:52:00 -
[70]
Edited by: Kylar Renpurs on 29/02/2008 08:55:31
Quote:
Bah, Ive rambled enough and probably goin to get some flack for it - later all enjoy the long weekend (Australians)!
Off topic: It's a long weekend? 
EDIT: Check again Astorothe, think you're a week out ;)
Improve Market Competition! |
Astorothe
Aperture Science Industries
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Posted - 2008.03.01 06:10:00 -
[71]
It's definitely a long weekend here in W.A.! I think you eastern staters have a different schedule =)
Deus Ex Machina ~ Eve Corp, Web Design & Gaming News |
Hexxx
Minmatar
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Posted - 2008.03.01 12:31:00 -
[72]
Originally by: Astorothe
Ultimately, to be honest, I have an ulterior motive for "supporting" this Bank (if you can call it support, I dont care either way really). I wan't to take a punt as I would like to see another Bank on the market because I think it would lead to increased rates with the other ones! Shock gasp horror!
But FuryBank already has high rates... 
This is how I see it; to compete with either Fury or EBANK you need to do something different. I've already advised Dynasty on how to compete;
1) Higher rates than EBANK, but not as high as Fury
2) Better services online than Fury, but not as developed as EBANK
It's a middle position, one that's possible to attain and one that I think would be competetive with both Banks. I'm leaving BMBE out of this because recently I've come to view BMBE as a performance based Bond IPO (similiar to a municipal Bond here in the US).
Director | www.eve-bank.net
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FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2008.03.01 20:32:00 -
[73]
Originally by: Mr Horizontal
Edited by: Mr Horizontal on 27/02/2008 12:50:09
Here's a direct analysis of the 4 banks:
FuryBank:
HIAs (0.25% daily (7.896%/mo), 1 week notice, 250m min, 6b max): 128.299b
Current Accounts (*%, Shares, 1m min, no max): 73.679b
Num Loans: unknown
Total capital: 201.978b
Num Users: unknown (between 34 and 807 based from min/max balances)
Average balance: unknown (between 250m and 6b)
Average loan amount: unknown
Reserves: 20% (but viewing FuryHolding's wallet and escrow: 38.422b)
Capital utilisation: primarily FuryHoldings, some shares and secured loans.
Profit reinvested: 0% (profit is generated and reinvested in FuryHoldings)
Risk profile: Normal
Growth plans: limited to FL's money making abilities, he likes to keep FuryBank's exposure to around 200b.
Views competition as: EBANK
* can't remember the ROI on current accounts, please correct me here.
- FuryBank has Normal risk is run by 1 reputable person and also has massive exposure to FuryHoldings.
A few comments/corrections.
HIAs should be largely ignored for comparison purposes - as no new ones are on offer, or are likely to be in the near future.
Interest rate on current accounts is 1.4% per week (not compounded - as interest is paid out via dividend mechanism) so around 6% per month.
Your comments regarding links between Fury Holdings / Fury Bank aren't really totally accurate. The only reason the two are seperate entities is because both use shares (Fury Holdings for dividends/ownership, Fury Bank to pay out interest on current accounts). There's no ingame mechanism for issuing different types of shares from one corporation - hence two in-game entities have to exist. For all practical purposes Fury Holdings / Fury Bank is one company. Whether you view Fury Holdings as the profit-generating wing of Fury Bank or Fury Bank as the banking wing of Fury Holdings is neither here nor there. That's why no weekly report is generated for Fury Bank - it's contained within the Fury Holdings weekly report.
As a result of that, some of your analysis is flawed:
Claiming Fury Bank has "massive exposure to Fury Holdings" is disingenuous at best. It has no more exposure than EBank does to it's investment wing or BMBE has to it's investment wing. All banks have to take money in and then generate profit from it to meet their commitments. The fact that, due to in-game limitations, Fury has to do this by utilising two corporations makes no difference to the risk level. You COULD, however, argue that the means used to generate profit (which is far more trading-based, rather than loan/investment based for Fury) has an impact on risk: but that could be argued in both directions (that it makes Fury more risky OR that it makes it less risky). My arguments that it makes it less risky would briefly be:
1. The exposure to outside parties (unsecured loans / investments) is much lower. Fury offers very few unsecured loans and invests little in other companies: so the scam risk from third parties is much lower.
2. The bulk of Fury's ISK-making is not reliant on third-parties: so, for example, Fury is not dependent upon external demand for loans nor is it particularly sensitive to new, cheaper, outside loan sources competing.
3. Fury's investments produce a far greater return on capital than those of BMBE/EBank - making it far more able to recover in the event of a major loss.
There IS, of course, another side to that argument - but the issues are FAR more complex than your "it uses 2 corp tickers so it's more risky" comment.
Similarly, your comments about Provit being reinvested of 0% is inaccurate once you accept that Fury Holdings and Fury Bank are actually one entity. 25% of Fury Holdings profits are reinvested (1.5 billion this week- report hasn't yet been posted).
((Out of characters,continuing in a new post))
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FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2008.03.01 20:47:00 -
[74]
Your comments show more bias when describing expansion plans. EBank is described as "cautionary" while Fury is described as "Limited to FL's ability to make money".
In practice our approaches are very similar: we restrict what deposits we allow based on the profit we can generate. Hence my removing new HIA access - and EBank phasing their deposit limits. Whilst your comments may, factually, reflect the similarity of approach your wording gives a more positive slant to EBank and a less positive one to Fury.
Your overall assessment of risk is, of course, where your EBank link shines through the clearest. YOU may believe having multiple people able to access chunks of customers' funds/assets is more secure than restricting it to one individual - I don't agree. In theory (pure theory) with all individuals being equally trustworthy, the single-person model has a higher chance of total scam and a lower chance of any scam by staff. I'm not going to go into the argument in any depth beyond pointing out that very basic mathematical fact: arguing over who's the most trustworthy, the effects on scammability of overlapping access etc is well beyond the remit of this thread.
To fill in the blanks in your details regarding Fury Bank:
Number of loans (currently) : 6
Average loan size (currently) : 4.75 billion
Number of users : 120-130 (depending how many people have both current and HIAs)
Average balance : around 1.6-1.7 billion
Reserves: Your indication of 20% cash reserves target is no longer correct. That figure only applied to Current Accounts. Current target for reserves is 30 billion (NOT counting ISK in escrow for buy orders). In practice reserves have been in the 40-50 billion range recently (no idea how far back you went to get your figure).
Right now Fury doesn't particularly view anyone as competition - as we're not currently seeking to expand deposits much and loans generate little profit (due to the good rates we pay depositors).
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FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2008.03.01 21:05:00 -
[75]
Having made 2 lengthly posts about Fury Bank, I should redress the balance and make one about the OP's bank.
The first thing is that there's definitely room for at least one more credible bank around: but you need to be careful where you try to position yourself in the market.
It would, for example, be a mistake to try to compete with EBank in offering low-return deposits backed by long-standing reputations and heavy self-publicity: you lack the track-record here to manage that.
Similarly, you'd struggle to compete with Fury Bank PURELY based on interest rates. If you offer high rates with no demonstrated ability to make equivalent-level profits then everyone will view you with great suspicion.
Hexx has suggested you aim for the market in between - interest rates of a similar level to Fury Bank's with web-based access comparable to EBank's. There's definitely a market there - there's plenty of ISK around which won't invest in EBank (too low interest rates) OR in Fury Bank (no website). To do that, you really need to be beating the approx 6% per month Fury Bank current accounts offer - as no web-access/contact with me is needed to check balances on those (your balance is 1 million per Fury Bank Corp share in your wallet).
My advice would be to look at the similarities between what you're trying to do and what Fury did - and then also look at the large differences in our startup process.
Before starting to offer banking services, Fury Holdings was launched as an IPO - with fairly detailed weekly reports. It was only after I'd demonstrated the ability to report fully, address any concerns with my operations and (critically) had demonstarted the ability to generate profits easily able to pay the promised interest that I began to offer banking services. You should maybe consider the same: until then, the fear of observers will be three-fold:
1. That with no track record you could well be trying to scam.
2. That you possibly view running a Bank as just a means to avoid having to give detailed reports - and as a way to obtain cheaper startup capital than you'd get if you ran an IPO. A lot of new "bonds" are run on this basis - and whilst this forum has a (shockingly) high tolerance for unbacked bonds that tolerance isn't quite so wide when you want to label yourself as a bank.
3. That with no demonstarted ability to make profits on large sums of ISK you could be getting in over your head even if your intentions are entirely honest.
My advice would be to demonstrate that you can walk before asking everyone to trust you to run. But good luck, whatever you try to do.
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Daeva Vios
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Posted - 2008.03.01 21:53:00 -
[76]
This is in regards to your offer of credit ratings.
I believe this is an overextension and it would be difficult to maintain impartiality. Managing a bank is tough enough; tracking a database of information farmed from other banks and these forums is a job in itself. You would also have to convince the other banks to provide you with information regarding the standings of their loans and complete details of debt history for each member. Even if you could guarantee impartiality, this information would probably be difficult to obtain. Without this information, a credit rating wouldn't be worth the time spent to write out the number.
Additionally, your stated goal in providing this service is to assist new banks in their operations. The market doesn't have much room for more banks, and what reason would these new banks have to trust your credit ratings? If the profitability of your bank started dropping, what would stop you from providing faulty credit ratings, thereby drastically increasing risk to your competitors while keeping your own operations relatively safe?
Summary of above: providing credit ratings and reports is a massive conflict of interests and a course of action that I strongly advise against pursuing.
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Walrus RGM
Gallente
Dynasty Corporation
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Posted - 2008.03.03 02:53:00 -
[77]
Hello.
I'm here to state my satisfaction with Dynasty Banking. I'm a member of Dynasty Corporation and Dynasty Banking since their early start. I have a Limited Access Savings Account with currently 540.800.000,00. I'm a 1 year player and I know Daallie ever since. I've been a director in both corps we worked together and I can certify his decency for the time I know him. Being an active member in DYCO I have no reason to doubt Daallie's capability on trading or distrust him as to secure all deposits. Unfortunately I have no previous knowledge concerning other EVE banks and might as well start doing some reading, even though I have a Savings Deposit exactly because I dont have the time to manage all my money and therefore wont pay much attention for this matter right now.
About the trust issue expressed about the previous testimonials, well, I can at least speak for myself. I have around 4b in total assets, built with hard work, luck and vision. I never took part on any scam or misleading acts and have always been an honest player.
I'd like that anyone with questions regarding Dynasty Corporation or myself to contact me in game so I can answer by mail or in chat.
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Admiral Grevious
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Posted - 2008.03.03 03:05:00 -
[78]
Walrus,
Thank you for providing an endorsement to Daallie.
As someone who has already invested a small amount into Dynasty, it provides me a little more assurance than what Daalie has already given me. From what I've seen based on his responsiveness and willingness to listen to potential investors, I'm eager to see how Dynasty bank continues to develop.
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Ulstan
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Posted - 2008.03.03 17:07:00 -
[79]
There is so much superb information here for anyone looking to compare existing EVE banks or looking to start up a new one. Good stuff.
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Kazuo Ishiguro
House of Marbles
Zzz
|
Posted - 2008.03.03 17:37:00 -
[80]
Originally by: Hexxx
This is how I see it; to compete with either Fury or EBANK you need to do something different. I've already advised Dynasty on how to compete;
1) Higher rates than EBANK, but not as high as Fury
2) Better services online than Fury, but not as developed as EBANK
Originally by: FastLearner
Hexx has suggested you aim for the market in between - interest rates of a similar level to Fury Bank's with web-based access comparable to EBank's. There's definitely a market there - there's plenty of ISK around which won't invest in EBank (too low interest rates) OR in Fury Bank (no website).
I thought the point of a website was that it reduced workload rather than increasing it? Obviously it's a lot of work to set one up, but it can then automate a large amount of the necesary book-keeping. If Dynasty wants to do both and offer EBANK and Fury Bank some serious competition, why can't either of you raise your game? 
I feel that the views of potential account holders are a bit under-represented in this thread. I generally expect quite a lot of a bank!
My research services
Spreadsheets: Top speed calculation - Halo Implant stats |
Night Crow
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Posted - 2008.03.03 18:54:00 -
[81]
His Interest is way too high, If you dont decrease this you just burn yourselve out.
Max you should go 7% to 8%, I would go 7
At least untill you have some money behind you
As I went up the ladder in isk at the beginning your margins are very high as I was able to reach 20% monthly but that was different ball game when you reach 50 Billion
As soon as you come trusted, people will just throw their money at you and you will find it hard to funtion as a bank as such high levels.
Then you would burn yourselves out
I dont think Banks, IPOs or Bonds can be competetive
as there too much isk around. If i would put money in a bank I would cap one bank then go on the next
It All about trust, that is what you got to work on here and show you can earn the money
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