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CyberloQ Technologies Inc. Announces Business Update on Growth and Sales Strategies Other OTC:CLOQ

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VENICE, FL, March 03, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — CyberloQ Technologies Inc. (OTC: CLOQ) (“CyberloQ” or the “Company”), a provider of advanced authentication algorithms and geofencing capabilities for data control, today provides a review of the Company’s market opportunities, current initiatives and revenue model.  

To our Shareholders, 

We would like to thank you for your continued support as we advance our operations to become a recognizable, key player in cybersecurity. We are pleased to provide you an update on our operations, current opportunities and plans for growth. 

MARKET OPPORTUNITIES 

According to Juniper Research, ecommerce merchants are expected to lose $25 billion to online payment fraud by 2024. The COVID-19 global pandemic has only increased the use of ecommerce and online banking, which in turn drives greater demand for technologies that enable secure online transactions. 

As the need for cyber security solutions increases, CyberloQ continues to focus on banking fraud prevention and credit management through its proprietary CyberloQ™ and TurnScor™ software. We believe merchants are primarily responsible for the safekeeping of clients’ assets and personal information, but consumers must also take measures to protect their personal financial data; it’s our mission to provide tools that enable them to do so (https://CyberloQ.com/why-cyberloq/). 

Secure online payments are vital for the success of ecommerce, and we believe CyberloQ provides the solution for proactive, comprehensive cybersecurity.

TECHNOLOGY

CyberloQ’s customizable data security solutions provide an additional layer of protection to consumers, merchants and e-commerce as a whole, while TurnScor credit management platform provides consumers a cost-effective way to manage and repair their credit profiles.  

·      CyberloQ™ is a banking fraud prevention technology that enables institutional clients to combat fraudulent transactions and unauthorized access to customer accounts. Through the use of a customer’s smart-phone, CyberloQ uses a multi-factor authentication system to control access to a bank card; transaction type or amount; website; database or digital service. The mobile applications for CyberloQ have been built, and have been successfully integrated into the banking ecosystem.

·      TurnScor™ is a web-based proprietary software platform which allows customers to monitor and manage their credit from the privacy of their own homes. Although consumers can sign-up for TurnScor on their own, the Company also intends to market TurnScor to certain institutional clients, where appropriate, in conjunction with CyberloQ as a value-added benefit to offer their customers. This combination will give consumers the bonus ability to control and repair their credit in anonymity.  

REVENUE MODEL 

The CyberloQ and TurnScor technologies create two revenue streams, each with a distinct marketing strategy designed to expand visibility, both domestic and International, and the application of our products among retail and wholesale/institutional customers. 

Retail –

Our retail model will allow for the direct marketing of our brands to consumers. The CyberloQ executive team is in late-stage discussions with a large direct marketing company regarding the development and launch of a digital wallet that would include the CyberloQ and TurnScor technologies. If negotiations are finalized, the direct response company will create a marketing program to present the e-wallet to its multi-million customer data-base, and then explore the launch of regional and national campaigns. 

We are confident this unique combination of a cybersecurity digital wallet and a state-of-the-art credit repair portal will give CyberloQ a competitive advantage in the marketplace. 

Wholesale/institutional – 

Our wholesale/institutional revenue strategy calls for customized licensing agreements that will provide online security to businesses, fintech companies, databases, governments, healthcare institutions, online service providers, financial institutions, online gaming space and more. These licensing agreements allow our clients to offer the CyberloQ technology to their customers as a value-added service or as an additional product. This allows our clients the ability to design the strategy that best suits their needs and those of their customers. 

An example of this model is our re-seller agreement with Transact Payments Malta Ltd. (“TPML”) in Europe and Asia. Per the agreement, the licensing fee structure provides CyberloQ as a value-added service to its network, then passes the licensing costs to its customers. Learn more about this structure here https://www.smallcapvoice.com/interview-cyberloq-technologies-cloq/ .

We also have a re-seller agreement with Strategic Solutions Integrated, LLC ( SSI ) in the greater Virginia area to assist with the Dept. of Defense and other government related entities (www.SSI-inc.org). 

COMMITMENT TO SHAREHOLDER VALUE 

We would like to reiterate our focus on establishing effective sales and marketing strategies that will enable the Company to safeguard e-commerce while increasing our corporate growth and shareholder value. Based on the growth plan defined, we are expanding the infrastructure required to handle large scale clients on a global basis, and will provide additional shareholder updates as they become available.  

Thank you again for your trust and support, 

The CyberloQ Executive Team

About CyberloQ Technologies Inc.

CyberloQ Technologies Inc. (OTC: CLOQ) secures clients’ sensitive data and valuable information with a patented, aggressive and proactive approach. CyberloQ’s advanced authentication algorithms, private blockchain and industry-leading geofencing capabilities give clients complete control of their data for real-time authentication and dedicated fraud protection. For more information, visit https://CyberloQ.com/

Safe Harbor:
From time to time, the Company may issue news releases that contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be “forward-looking statements.” “Forward-looking statements” are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.

The Company discourages any and all promotional activity by non-Company actors, and encourages investors and potential investors to review the Company’s public filings, its website and its press releases, and to discuss these matters with their personal legal and financial advisors. Non-Company newsletters/recommendations, websites or general stock symbols/classifications or other identifiers regarding our securities, whether positive or negative, should not be relied on because these items are simply opinions/policies of a third party. These third parties are, in many instances, paid by the publisher or other third parties and the Company believes that they profit from the publication of this literature and the results on the market. These materials should not be a substitute for investors’ research and/or independent decision-making.

Company Contact: 

Chris Jackson

President, CyberloQ Technologies Inc.

612.961.4536

chris@cyberloq.com

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Are Sallie Mae Student Loans Federal or Private?

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When you hear the name Sallie Mae, you probably think of student loans. There’s a good reason for that; Sallie Mae has a long history, during which time it has provided both federal and private student loans.

However, as of 2014, all of Sallie Mae’s student loans are private, and its federal loans have been sold to another servicer. Here’s what to know if you have a Sallie Mae loan or are considering taking one out.

What is Sallie Mae?

Sallie Mae is a company that currently offers private student loans. But it has taken a few forms over the years.

In 1972, Congress first created the Student Loan Marketing Association (SLMA) as a private, for-profit corporation. Congress gave SLMA, commonly called “Sallie Mae,” the status of a government-sponsored enterprise (GSE) to support the company in its mission to provide stability and liquidity to the student loan market as a warehouse for student loans.

However, in 2004, the structure and purpose of the company began to change. SLMA dissolved in late December of that year, and the SLM Corporation, or “Sallie Mae,” was formed in its place as a fully private-sector company without GSE status.

In 2014, the company underwent another big adjustment when Sallie Mae split to form Navient and Sallie Mae. Navient is a federal student loan servicer that manages existing student loan accounts. Meanwhile, Sallie Mae continues to offer private student loans and other financial products to consumers. If you took out a student loan with Sallie Mae prior to 2014, there’s a chance that it was a federal student loan under the now-defunct Federal Family Education Loan Program (FFELP).

At present, Sallie Mae owns 1.4 percent of student loans in the United States. In addition to private student loans, the bank also offers credit cards, personal loans and savings accounts to its customers, many of whom are college students.

What is the difference between private and federal student loans?

When you’re seeking financing to pay for college, you’ll have a big choice to make: federal versus private student loans. Both types of loans offer some benefits and drawbacks.

Federal student loans are educational loans that come from the U.S. government. Under the William D. Ford Federal Direct Loan Program, there are four types of federal student loans available to qualified borrowers.

With federal student loans, you typically do not need a co-signer or even a credit check. The loans also come with numerous benefits, such as the ability to adjust your repayment plan based on your income. You may also be able to pause payments with a forbearance or deferment and perhaps even qualify for some level of student loan forgiveness.

On the negative side, most federal student loans feature borrowing limits, so you might need to find supplemental funding or scholarships if your educational costs exceed federal loan maximums.

Private student loans are educational loans you can access from private lenders, such as banks, credit unions and online lenders. On the plus side, private student loans often feature higher loan amounts than you can access through federal funding. And if you or your co-signer has excellent credit, you may be able to secure a competitive interest rate as well.

As for drawbacks, private student loans don’t offer the valuable benefits that federal student borrowers can enjoy. You may also face higher interest rates or have a harder time qualifying for financing if you have bad credit.

Are Sallie Mae loans better than federal student loans?

In general, federal loans are the best first choice for student borrowers. Federal student loans offer numerous benefits that private loans do not. You’ll generally want to complete the Free Application for Federal Student Aid (FAFSA) and review federal funding options before applying for any type of private student loan — Sallie Mae loans included.

However, private student loans, like those offered by Sallie Mae, do have their place. In some cases, federal student aid, grants, scholarships, work-study programs and savings might not be enough to cover educational expenses. In these situations, private student loans may provide you with another way to pay for college.

If you do need to take out private student loans, Sallie Mae is a lender worth considering. It offers loans for a variety of needs, including undergrad, MBA school, medical school, dental school and law school. Its loans also feature 100 percent coverage, so you can find funding for all of your certified school expenses.

With that said, it’s always best to compare a few lenders before committing. All lenders evaluate income and credit score differently, so it’s possible that another lender could give you lower interest rates or more favorable terms.

The bottom line

Sallie Mae may be a good choice if you’re in the market for private student loans and other financial products. Just be sure to do your research upfront, as you should before you take out any form of financing. Comparing multiple offers always gives you the best chance of saving money.

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Tips to do some fall cleaning on your finances

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Wealth manager, Harry Abrahamsen, has five simple ways to stay on top of the big financial picture.

PORTLAND, Maine — Keeping track of our financial stability is something we can all do, whether we have IRAs or 401ks or just a checking account. Harry J. Abrahamsen is the Founder of Abrahamsen Financial Group. He works with clients to create and grow their own wealth. Abrahamsen shares five financial tips, starting with knowing what you have. 

1. Analyze Your Finances Quarterly or Biannually

You want to make sure that your long-term strategy is congruent with your short-term strategy. If the short-term is not working out, you may need to adjust what you are doing to make sure your outcome produces the desired results you are looking to accomplish. It is just like setting sail on a voyage across the Atlantic Ocean. You know where you want to go and plot your course, but there are many factors that need to be considered to actually get you across and across safely. Your finances behave the exact same way. Check your current situation and make sure you are taking into consideration all of the various wealth-eroding factors that can take you completely off course.

With interest rates very low, now might be a good time to consider refinancing student loans or mortgages, or consolidating credit card debt. However, do so only if you need to or if you can create a positive cash flow. To ensure that you are saving the most by doing so, you must look at current payments, excluding taxes and insurance costs. This way you can do an apples-to-apples comparison.

The most important things to look for when reviewing your credit report is accuracy. Make sure the reporting agencies are reporting things actuary. If it doesn’t appear to be reporting correct and accurate information, you should consult with a reputable credit repair company to help you fix the incorrect information.

4. Savings and Retirement Accounts

The most important thing to consider when reviewing your savings and retirement accounts is to make sure the strategies match your short-term and long-term investment objectives. All too often people end up making decisions one at a time, at different times in their lives, with different people, under different circumstances. Having a sound strategy in place will allow you to view your finances with a macro-economic lens vs a micro-economic view. Stay the course and adjust accordingly from a risk and tax standpoint.

RELATED: Financial lessons learned through the pandemic

A great tip for lowering utility bills or car insurance premiums: Simply ask! There may be things you are not aware of that could save you hundreds of dollars every month. You just need to call all of the companies that you do business with to find out about cost-cutting strategies. 

RELATED: Overcome your fear of finances

To learn more about Abrahamsen Financial, click here

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How to Get a Loan Even with Bad Credit

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Sana pwedeng mabura ang bad credit history as quickly and easily as paying off your utility bills, ‘no? Unfortunately, it takes time. And bago mo pa maayos ang bad credit mo, more often than not, kailangan mo na namang mag-avail ng panibagong loan. 

Good thing you can still get a loan even with bad credit, kahit na medyo limited ang options. How do you get a loan if you have bad credit? Alamin sa short guide na ito. 

For more finance tips, visit Moneymax.

 

 

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