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UNLOCK THE FULL UTILITY OF COV TOKEN ON COVESTING

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Covesting is an innovative peer-to-peer trading solution currently available exclusively on the crypto margin trading platform PrimeXBT. The community has grown rapidly as word of mouth spreads, screenshots of trader’s PnLs go viral, and reports on massive returns are published in the media.

But did you know that you can get even more returns from the Covesting copy trading module on PrimeXBT simply by staking COV tokens? Here is a complete breakdown of how to stake COV tokens to get the most out of the Covesting ecosystem and how to go about getting started with COV token staking.

 

What Is The COV Utility Token?

The COV utility token is the native cryptocurrency token for the Covesting ecosystem. It was designed from the very beginning to be used within the Covesting copy trading module, and as Covesting develops new products – such as the Covesting Yield Account module slated for Q3 2021 – the COV token will also be integral.

The COV utility token is an ERC-20 token with a scarce supply. The token supply is deflationary due to the developers regularly burning COV tokens. More than half a million COV have been burned thus far, supporting the tokenomics standard set forth by the company.

 

What Is Covesting And The Copy Trading Module?

Covesting is the developer behind both the COV token and the Covesting copy trading module. The Europe-based licensed DLT developer first broke into the crypto scene years ago, but during the bear market shifted its focus successfully to B2B partnerships – the first of which resulted in the launch of the copy trading module on PrimeXBT.

Today, PrimeXBT is still the exclusive home to the Covesting copy trading module, and the partnership is expanding into a joint venture into the DeFi space that offers up to 35% APY.

The Covesting copy trading module connects followers with strategy managers who show success through a global leaderboard system. The fully transparent leaderboards highlight profitability, risk, margin allocation, and more, allowing followers to pick and choose who they think will bring the most money.

From there, followers can copy the trades of these strategy managers and make money when they do. Less work is involved for the follower, and they can tap into decades of expertise across the board. Strategy managers make a portion of the profits from followers, keeping them interested and involved in their strategies as a way to extract the most out of the trading they’re already doing.

Reports across the web put the spotlight on a specific story where a strategy manager turned a six-figure position into millions in just days. All the while, they made their followers a fortune and gained incredible notoriety – the stuff legends are made of.

 

What Does The COV Token Unlock?

The COV token lets traders like the many success stories above get even more out of the experience. Followers can earn more profit per trade and ditch entry fees altogether. Strategy managers can drop trading fees by as much as 30% at the highest level of discount, boost followings, and much more.

This is all possible by staking COV tokens within the Covesting module on PrimeXBT. PrimeXBT recently revealed its V2.0 update and, with it, support for ERC-20 wallets. ETH, USDT, USDC, and COV were added as well as additional support for fiat currencies in the future.

Staking COV tokens takes Standard accounts to Advanced, Premium, and Elite levels, where the benefits get better with each higher tier. Users have total flexibility to stop staking or increase membership levels at any time.

COV token staking will also unlock up to a 2x APY boost when Covesting Yield Accounts go live later this year in Q3 2021. Covesting Yield Accounts will let PrimeXBT users earn an APY on idle crypto assets stored on the platform through an easy-to-use interface. The tool connects to top DeFi protocols and is the last remaining piece of the full profit puzzle that Covesting and PrimeXBT provide.

Covesting products are currently available exclusively at PrimeXBT through an ongoing B2B partnership that has been positive for both of the industry powerhouses. What innovative way to get more out of the COV token will they think up next?

 

Finance

2021: THE YEAR THE FINANCIAL SERVICES SECTOR WILL ENTER THE ERA OF BOUNDLESS CUSTOMER ENGAGEMENT

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By

Steve Bell, VP EMEA Solutions Consulting, Verint Systems

 

It can feel like businesses lurch from one disruption to another. From macro-economic collapse to aggressive competitors, changes to regulations, political uncertainty, being slow to innovate; all these and more can undo the years of hard work that has been spent building up a viable, profitable company.

Yet dig beneath the surface of those issues, and despite the apparent variations there is a fundamental truth in all of them – that the reason for failure is an inability to change. History is littered with the names of once industry-leading companies that did not change their business model to reflect the evolving needs and demands of the market. Some have gone completely; others are shadows of their former selves.

 

Accelerated consumer demands

It’s likely that we will see more names follow them in the coming months and years. As we’ve seen in previous crises, not even storied banks are too big to fail. The pandemic will be blamed for much of it, and it will be a significant factor. But in all likelihood, all it will have done is accelerated what was already going to happen – just as it has done for digital transformation. We’re at a point now where consumers are expecting much more intuitive experiences and services from the brands they buy from, and that includes financial service providers.

Steve Bell

From new channels and ways of purchasing, to heightened expectations of what good looks like, banks are having to do much more with, in many cases, a workforce that is dispersed, disengaged, and underequipped to meet customer demands.

That means they need to adapt. They need to be able to offer self-service, social-media based customer interactions, mobile, ecommerce, and they need to be able to offer it at the same standard as innovators, all with a remote workforce. It doesn’t matter whether you’re selling mortgages or fridges, whether you’ve been in business 12 months or 50 years – consumers are taking their experiences from other sectors and expecting everyone they interact with to be at the same standard. Put another way, financial service providers are no longer just judged against their sector competitors.

Decision-makers know this – a new study from Verint found that understanding and acting on rapidly changing customer behaviours was a top concern for 71% of financial service professionals. Their top challenges highlighted concerns relating to remote workforces, with maintaining established relationships with clients, a lack of physical interaction between employees and customers and inefficiencies in managing urgent client matters all causes for concern.

 

Ushering in a new era of customer engagement

It all points to creating a new approach to customer engagement. Banks and other financial service providers need to recognise that they have to deliver an always-on experience, irrespective of channel, while at the same time taking into account the fact that their workforce isn’t going to scale to meet the challenge.

What’s the solution? The answer combines culture and technology to create an approach known as boundless customer engagement.

It’s cultural because it demands a mindset change. One that sees the entire organisation as responsible for delivering an exemplary experience, not just customer service, or a subsection thereof. Where key performance indicators and objectives across all functions are dialled into how that department or team supports the delivery of better customer experiences. It’s also about empowering workforces to act appropriately and deliver the best response to customers, allowing the entire organisation to adapt and act faster.

 

Combining technology and culture

It needs to be cultural, because culture defines how the next part is used. Technology is inherently neutral – it is only through its deployment and adoption that it becomes either a force for good or simply a quicker root to short-term margin improvement. If the right cultural mindset is in place, then the technology that underpins it all will deliver boundless customer engagement.

It will do this through enabling the right balance of automation and human touch, allowing teams to scale without leaving customers feeling as if they are at the mercy of an impersonal algorithm. With artificial intelligence, everything from front-end chatbots to back-end knowledge management systems serving up the right information at the right time, can be deployed to meet accelerated customer expectations.

 

2021 – the year of boundless customer engagement

By combining a culture shift with the deployment of technology, financial service providers will be able to break down the barriers that disrupt better customer experiences and meet demand. And they’ll be able to do it without having to massively scale up or put teams under intolerable pressure.

Whatever else happens, the consumer experience in 2021 is going to be one characterised by speed, by intuition, and by a vast array of touchpoints. For financial service providers to be able to deliver on this promise without dramatically undermining their own employees will take a new approach – one that connects the realities of work today with data and experiences to build enduring relationships through boundless customer engagement. In doing so, banks, wealth managers and other finance organisations will drive real business outcomes that cements ongoing performance, irrespective of the wider economic climate.

 

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Business

HOW TO UP YOUR EMAIL MARKETING GAME IN THE FINANCIAL INDUSTRY

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By

Sam Holding, Head of International, SparkPost

 

The secret to a successful marketing campaign, no matter the industry, comes down to a well-oiled email programme.

In the financial industry, high volumes of emails are being sent every day, and it is vitally important that customers trust the sender and understand the information that is being shared through the email. And in the financial industry, this is even more true. But ensuring that emails are being received correctly, both in terms of deliverability and content, is much easier said than done. How can organisations ensure that their emails are reaching customers and prospects successfully, and sending the right message?

While financial services firms certainly need to consider the content and branding of their emails, they must also prioritise the foundational elements of email, namely deliverability, in order to make email the ROI machine it can be. That said, deliverability, content, and branding are the combined ingredients necessary for financial services to fully realise the potential of their email programs.

For high volume senders, even a seemingly nominal decrease in deliverability rates can represent a huge decline in how many customers are actually seeing their emails. More than that, with financial institutions, the value of each converted customer can be quite high meaning that even a 1% decrease in inboxing rates can mean major losses. Once financial organisations understand the pounds and pence of deliverability, it’s time to start implementing tactical best practices to avoid the pitfalls of declining deliverability rates.

 

Step 1. Improve your reputation as a sender

For financial organisations, using email to help boost their credibility and reputation is essential. Actions such as sending on new IP addresses with unproven reputations, can seriously impact an organisations reputation with current and potential customers, therefore it is vital that email activity is set up to improve a company’s reputation and not the other way round. It is important that anything considered personally identifiable about a customer (or PII), like their phone number, account number, or address, are properly protected and only shared with the customer themselves. On the other hand, another way to build customer trust is by letting them know information that you will never ask for over email, so that they can easily identify any suspicious communication that occurs, without finding out the hard way.

Also, when it comes to building a solid sending reputation financial firms shouldn’t send too much, too soon, from a new IP address.

 

  1. Relevant email sending is key

Once the more technical aspects of email sending are in place, organisations must next ensure that the content they are sending in their emails is truly relevant to the recipients. No matter how engaging and interesting an email is, if it is not relevant to the recipient, it simply will not yield success. The more relevant the emails are, the more likely they will be well received by consumers.

Financial institutions should be mindful when building lists for sends and use data like past purchases, traffic logs, and on-site search to inform who they’d like to send to, avoiding the temptation to blanket their whole audience with a single email in the name of efficiency. In order to get the most out of email communications, sending highly targeted messages will be much more effective in not only building reputation, but building out a strong and engaged list.

 

  1. Produce high quality content

Once the relevant audiences have been defined through segmentation, the next task is to decide on the content of the emails. When it comes to sending out marketing messages, financial institutions should consider the kind of information their recipients find valuable and produce content that is in line with their needs. One way of ensuring marketing emails resonate with the audience is through promotions. Who doesn’t love a good offer? Customers need to be able to see the value in subscribing to emails, and offering valuable educational seminars and content and special offers tailored to their financial picture via email is a simple way to do that.

Another best practice for financial institutions is to pay close attention to writing great subject lines. Since many customers won’t see more than the first few words — especially on mobile – senders should put the most relevant and targeted terms up-front, making the value to the customer immediately clear. With smart content informed by great segmentation, financial firms can really leverage the power of email in their marketing strategies.

 

  1. Use strong branding to boost integrity

The last foundational ingredient to a great financial services email strategy is branding.

To ensure brand integrity, it is essential that every aspect of an organisation’s messaging — visual identity, voice, value proposition — is consistent and compelling. A common pitfall is to use different systems or third-party providers for automated transactional emails, marketing emails, and other types of messages. This can lead the look and feel of the messages customers receive to vary widely, creating a confusing brand experience. By managing all messages through a single system, financial firms can build a stronger connection with customers and make each email they receive feel part of a coherent and valuable relationship.

As part of a financial services organisation’s branding strategy, it’s a good idea to use the brand name in the “from” field that shows up in the recipient’s inbox. Some marketers use an individual’s name with the belief that it will seem more personal, but this can also make it seem like spam. Instead, use a name customers will expect to see, then stick with it consistently across all emails to build recognition and trust. Using a solid and consistent brand is a best practice for any brand that sends email!

When it comes to your email marketing strategy, different approaches will work for different organisations, and will depend on the intended outcome. For large volume senders, like financial organisations, this is particularly true, and it is even more important that you know why you are sending your email and who it is intended for in order to get the most success possible. By following best practices, and taking care in your approach, email can be the gateway to a higher reputation and more loyal customer base.

 

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