What you will find in this edition
- Feature: STCs & SWIFT Membership
- Business Tools: Pay-As-You-Go SWIFT Alternative
- Business Psychology: Leaders Practice Empathy
- Executive Fitness: 3 Benefits of Core Training
- International Spirits & Cuisine: Oktoberfest!
- Living & Traveling Offshore: The Beauty of Switzerland
- Corb7 International Services: Learning Center
Do Swiss Trust Companies come with a SWIFT Membership?
This is one of the more frequent questions we receive about Swiss Trust Companies(STCs). This is a very good question, and no doubt brought about by information gleaned from various websites.
What is SWIFT?
First let’s establish what exactly SWIFT is. SWIFT stands for the Society or Worldwide Inter-bank Financial Telecommunications. It is a messaging network that financial institutions use to securely transmit information and instructions through a standardized system of codes. SWIFT assigns each financial organization a unique code that has either eight characters or 11 characters. The code is called interchangeably the bank identifier code (BIC), SWIFT code, SWIFT ID, or ISO 9362 code.
Here are the facts regarding STCs and SWIFT memberships:
1) Swiss Trust Companies do not come with SWIFT memberships. To suggest otherwise is misleading and potentially harmful to the client.
2) A new owner of an STC can certainly apply for a SWIFT but there really is no advantage, and it is very expensive.
3) The application process for a SWIFT will take 3-4 months and if approved you will be required to maintain a substantial paid-in-capital account and staff a coding facility.
4) If a client absolutely wants a SWIFT membership, we have a pay-as-you-go alternative, (please see next section of this newsletter) which is cost effective and makes much more business sense. Otherwise, the STC is fully operational without it.
I hope these straightforward answers are helpful. Please let me know if we can be of further assistance.
Pay-As-You-Go SWIFT Membership Alternative!
Alliance Lite 2
Alliance Lite is a Service Provider that offers low cost SWIFT access on a “pay-as-you-go” basis. Alliance Lite 2 – the newest version – which was released in 2012 and is a Cloud based type – requires very little equipment at your workplace but yet offers you highly secure and reliable messaging. Easy to use, cost-effective and reliable, it lets you exchange all SWIFT messages and file types and use secure browse services from SWIFT and market infrastructures.
Alliance Lite- 2 meets the needs of all types of SWIFT customers including: banks, trust companies, investment managers and broker/dealers.
Salient points and Benefits:
Connect to SWIFT with little upfront investment
Low operational costs and overhead
Connect directly to SWIFT without using a third party
No need for to maintain costly SWIFT infrastructure at your site
Please keep in mind that you must apply and be accepted to use this platform and Alliance Lite 2 has their own specific protocols for approval which are always subject to change. Also, it is of critical importance to keep your Swiss Administrator informed if you plan on implementing such a format alongside Swiss Trust Company ownership.
Leaders Practice Empathy
A 60 second video which will give you pause in your busy professional life.
3 Benefits of Core StrengthTraining
In the last decade, chances are strong competitive athletes, weekend warriors and men and women who routinely exercise have heard of workouts touting the benefits of core-strengthening exercises. Those unfamiliar with core training might think it’s just another exercise fad, unaware of the many practical benefits of a strong core.
To understand the benefits of core strength training exercise, it first helps to understand what such exercises are and dispel a common misconception about core training. People unfamiliar with core strength training may mistakenly believe it’s merely a way to sculpt toned abdominal muscles. While core training focuses on muscles in the abdomen, it does not do so exclusively. Proper core strength training focuses on the body’s entire core, including the hips, back and chest as well as the abdomen.
The following are three significant ways that athletes and non athletes alike can benefit from core strength training.
1. Improved balance
While working muscles in the hips, abdomen and back, core strength training is training these muscles to function as a more cohesive unit. This can improve balance, which can prove especially beneficial to aging men and women who may feel like they are losing some of their coordination.
2. Uniformity of muscles
Men and women who adhere to more traditional strength training workouts may notice certain muscle groups develop more than others, perhaps naturally or because they are willingly or subconsciously focusing on certain areas more than others. For example, a person who enjoys doing bicep curls might develop especially large biceps but may not focus as much on the muscles in his or her back. That can lead to muscular imbalances. Proper core strength training reduces the likelihood of such imbalances because the exercises focus collectively on a group of muscles, training these muscles to work together and developing them at the same pace.
3. Better posture
According to the online medical resource WebMD, core-strengthening exercises are the best way for men and women to improve their posture. That’s because some of the muscles worked during core training move the torso by flexing, extending or rotating the spine, while other muscles worked stabilize the pelvis and spine in a natural, neutral position. The Premier Sports and Spine Center notes that some of the benefits of good posture include lower injury risk, better alignment that can lower risk for arthritis and improved muscle health.
Core strength training exercises can pay various dividends that greatly improve adults’ overall health
Spirits & Cuisine
Oktoberfest is Here!
It is October and thus it is “go-time” for Oktoberfest. So we thought we’d bring to your attention quality German food which can be ordered online. Yes, and it might just be the best sausage that you will ever throw on your grill! Reasonably priced and a real treat, the best of Bavaria is available to you and can be at your doorstep within two days…
Living & Traveling Offshore
The Beauty of Switzerland
Many of our clients find themselves visiting Zurich, Switzerland for business reasons. One hour outside this busy metropolis is some of the most beautiful countryside you will ever see. It is well worth the drive to Amden and Lake Walensee. We recently had the opportunity to take in these unbelievable views and highly recommend them to you – the above video is just a snapshot of what you will find.
Our Roles & Services to Assist You:
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* INSPIRE: We have always been and remain to this day a stanch believer in free markets and the entrepreneurial spirit. To that end, we frequently publish or share information which is intended to either inspire or enlighten.
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