Menu
What's New
By:
Filters

Twin Peaks Bank - Bringing Liquidity and Exposure to You

Divinity

Divinity

Marauder
Joined
Jun 1, 2010
Posts
5,157
Location
India
Society
Freelancer
Avatar Name
Divinity Deth Undefined
It has been 4 years + some since i have joined Entropia Universe. The first day i got to twin peaks, I remember asking people what that building was and since then it has been a dream to get this property.

Fast forward 4 yrs and i am very happy to share that the property that i had dreamed of is finally ours to own. As most of us are aware that right now all banks in EU are merely glorified pawnshops. My personal effort will be to see if we can change that. Since there is no technical leverage at my end , a lot will depend on the support from MA but then there are few subtle things which i plan to do at my end as well.



Liquidity
---------

The basic feature of any bank in EU is to provide liquidity to the participants. The idea is to borrow money from the banks using items that we already own as collateral and then to pay back that amount whenever that is possible. There is a huge amount of flexibility provided by banks in EU to that end as in you can pay back loans the next day itself. The kind of flexibility that is not there right now can be provided by the banker which of course i will be willing to work on. More details will be provided in following posts.

Currently, I am working on updating the values in the Teller. Till that is done feel free to contact me directly for best deals and offers.

Annual Lending Rate : 50%. Subject to change

Exposure
--------

The unique aspect about the Twin Peaks Bank is the amazing exposure value that it lends to the bank as an estate. We have 30 points for advertising bang at the centre of the most crowded place in EU and 300 points of advertising within the complex which is metres away from the Twin Peaks TP. My personal goal with the bank is not just to provide liquidity but to provide exposure to the items we own ( not my personal items alone but also to others). This project is a research as of now and will mature with time as we gain more experience as well as knowledge of how to make it work best. There are issues with regards to collateral and others which we are working on how to solve. Some patience and testing will be needing going forward but we are very much looking forward to the challenge.


As of now we are planning to lend item spaces within and outside the bank.


print_screen_2014-08-04_23-51-52.jpg


WEAPONS​

print_screen_2014-08-04_23-49-18.jpg


ARMORS (MALE AND FEMALE)​

print_screen_2014-08-04_23-52-11.jpg


TOOLS AND HEALING DEVICES​

print_screen_2014-08-04_23-49-43.jpg


MINDFORCE CHIPS​

Inside : The main hall of the bank has been divided into 4 sections, namely Weapons, Armor, Mind force and Tools. The plan is to rent out spaces to item owners on a monthly basis. Right now we plan to start with 20 peds/month/item space and this is subject to change anytime without prior notice. In case of change all existing deals will be unaffected. We will probably have monthly/yearly spots as well but that is for later.

twin_peaks_bank_front.jpg


Bank Front View​

Outside : There will be 3 shopkeepers placed outside ( bang opposite to twin peaks TP) each consisting of 20 point. We plan to rent out some of those 60 points to individuals for items. Presently we will be charging 50 peds/month/item space and this is subject to change anytime without prior notice. In case of change all existing deals will be unaffected. We will probably have monthly/yearly spots as well but that is for later.

Please feel free to contact me if u have any suggestions/offers which is mutually beneficial to us.

PS : Please bear with me for the horrible images as they have not turned out half as good as i expected. Stay tuned for better aesthetics as well as more information
 
Last edited:
Reserved for more information
 
Reserved for whatever i missed earlier ^^
 
Damn Div you got a bank! :wtg:
 
Grats on the bank, one issue though the images say I have no permissions to view it, which I had never seen before. Not sure if its in a soc gallery or something.
 
Trifle said:
Damn Div you got a bank! :wtg:
Click to expand...

Yay trifle, had to match your stable acquisition in at least a small way ^^

forgo said:
Grats on the bank, one issue though the images say I have no permissions to view it, which I had never seen before. Not sure if its in a soc gallery or something.
Click to expand...

Thank you very much for the gratz and informing of the issue. I will ask Serica if she can help me out on this. I have this perennial issue and mind is just too full at the moment to brainstorm :)
 
Gz on your purchase... you're a brave avatar. :)

XZC
 
is an annual rate of 50% already considered scamming?

Seriously, that interest rate is a joke. I hope that any potential customer turns around and uses another means to obtain ped until the interest rate is at a level that is more acceptable

Regards
Angel
 
Gz on the purchase!

In Love With said:
Seriously, that interest rate is a joke.
Click to expand...

It's the same as other pawn shops, and people don't use it for a year. I'm guessing the average loan time is a week? Then the cost is below 1%.

Not that i personally ever use a pawn shop, i learned to save up before i buy something. A wise lesson to learn, both irl and ingame :)
 
Grats on the purchase and good luck on your venture, its awesome to see this bank finally comming to live :D
 
Xander Catman said:
Gz on your purchase... you're a brave avatar. :)

XZC
Click to expand...

Thank You. Hopefully as lucky as brave :)

Harmony. said:
Gz on the purchase!



It's the same as other pawn shops, and people don't use it for a year. I'm guessing the average loan time is a week? Then the cost is below 1%.

Not that i personally ever use a pawn shop, i learned to save up before i buy something. A wise lesson to learn, both irl and ingame :)
Click to expand...

Thank You.

There are many situations where using a bank makes more sense then to deposit like an auction where u do not know whether you will win the item or not. Plenty other situations of the same kind.

John B Knight said:
Grats on the purchase and good luck on your venture, its awesome to see this bank finally comming to live :D
Click to expand...

Thank You for the wishes :)
 
Last edited:
Huge grats on achieving a dream and good luck with it :)
I am usually personaly against hawking my own stuff, but this last week had to in a person to person deal to make sure I was liquid for the stable auctions, Ill come to you for specific rates if I need to do it again :)


gz and gl again thats awesome!
 
Grtz on making a dream into reality and good luck in your virtual banking endeavours! :)
 
Last edited:
Gratz on getting the bank :yay:

I've already rented three item spots and will likely rent more very soon :wtg:
 
In Love With said:
is an annual rate of 50% already considered scamming?

Seriously, that interest rate is a joke. I hope that any potential customer turns around and uses another means to obtain ped until the interest rate is at a level that is more acceptable

Regards
Angel
Click to expand...

http://www.dailymail.co.uk/news/art...-600-rise-leads-calls-tighter-regulation.html

5853% (yes, thats not a typo) is considered legal in UK currently! 50% seems very reasonable in comparison.


Good luck with the bank Divinity! :)
 
narfi said:
Huge grats on achieving a dream and good luck with it :)
I am usually personaly against hawking my own stuff, but this last week had to in a person to person deal to make sure I was liquid for the stable auctions, Ill come to you for specific rates if I need to do it again :)


gz and gl again thats awesome!
Click to expand...

Tx buds.. Am sure we will figure things out as things happen :)

Dollymaus said:
gratz on that purchase
Click to expand...

Thank You :)

melander said:
Grtz on making a dream into reality and good luck in your virtual banking endeavours! :)
Click to expand...

Thanks for the wishes.. :)

HardWrath said:
Gratz on getting the bank :yay:

I've already rented three item spots and will likely rent more very soon :wtg:
Click to expand...

Thanks buds...Lots of fun to come.. Development and Growth is about cooperation and i am lucky to get it from people around me :)

Mega said:
http://www.dailymail.co.uk/news/art...-600-rise-leads-calls-tighter-regulation.html

5853% (yes, thats not a typo) is considered legal in UK currently! 50% seems very reasonable in comparison.


Good luck with the bank Divinity! :)
Click to expand...

Thanks m8.. Appreciate the positivity :)


To add: I will be managing the items lent to the bank for advertising/sale through the google doc here.
https://docs.google.com/spreadsheets/d/1v0502gnAhzCHjzQMj7E0Tu0jrQpVUOX4QqqZQZwiUrI/edit?usp=sharing
 
Huge gratz on the purchase. Something tells me people's idea about the ingame banks might change soon.
 
Gz on your purchase!!!

Deth, Earthy and purposeful guy, and I wish you all the luck and success with the bank :)

 
All the best with the bank.
 
I think you should align your interest rates with normal banks. An unsecured personal loan in Australia has a rate of 14% pa. A secured loan has an interest rate of 8-10% depending on bank and item.

50% interest is gonna hurt your credibility and put people off. Use your business brain and make money. Even I would be tempted to take a short loan at 14% pa.
One or two clients with 50% interest loans is nothing compared to 50-100 players with 14% interest loans.
 
hogfather said:
Huge gratz on the purchase. Something tells me people's idea about the ingame banks might change soon.
Click to expand...

Thanks a bunch buds. I wont make any claims but that is exactly what i am looking to do :)

aframo said:
Gz on your purchase!!!

Deth, Earthy and purposeful guy, and I wish you all the luck and success with the bank :)
Click to expand...

Thx buds, appreciate the gratz and the compliment :)

RickEngland said:
All the best with the bank.
Click to expand...

Thanks a lot for ur wishes buds :)

Few Scars said:
I think you should align your interest rates with normal banks. An unsecured personal loan in Australia has a rate of 14% pa. A secured loan has an interest rate of 8-10% depending on bank and item.

50% interest is gonna hurt your credibility and put people off. Use your business brain and make money. Even I would be tempted to take a short loan at 14% pa.
One or two clients with 50% interest loans is nothing compared to 50-100 players with 14% interest loans.
Click to expand...

The person who commented earlier has a personal vendetta against me and is on my ignore list and hence i did not reply. However, since the question has arisen again form you allow me to clarify.

Firstly, I am not the kind of person to compete with others. If i did 40% or 35 or whatever, it would pitch me in direct competition with other banks and i dont see a need for such an unhealthy competition. All the banks which have survived in EU have 50% or more as annual interest rate including the presently functional ones. I do not see how or why that would hurt my credibility.

Secondly, you compare to real life banks. That comparison is faulty at best. You compare to Australia and hence i will put India here and say secured loans are 16-18% here and unsecured for 22-24%. Also do tell me which bank irl would give u $10 loans which they would agree to take back the next day with next to nothing in terms of interest. If u can find one, do let me know as out here i have not seen any bank do that. They have plenty of additional costs associated with loans and they even charge if u want to finish ur loans faster then the usual term ( not all banks do this but quite a few do). Now start considering the cost of acquisition of a bank in game to the turnover and compare that to real life ones. Even if everyone in game had a loan it would not match real life banks. :)

All said and done, I do appreciate your input and if u feel that my reasoning is faulty do point it out. As they say, 100 people with 1% solution to an issue is more probable then 1 person with 100% of the solution.

Cheers,

Divinity
 
Few Scars said:
I think you should align your interest rates with normal banks. An unsecured personal loan in Australia has a rate of 14% pa. A secured loan has an interest rate of 8-10% depending on bank and item.

...
Click to expand...

I'd compare more to a small personal finance business rather than a major retail bank which is usually protected from default by re-insurance of loan portfolios. An example from Australia would be Cash Converters, which is a publicly listed company on the Australian Stock Exchange.
The interest rates on their website for a small cash loan are presently around 150% p.a. (https://cashloans.cashconverters.com.au/cash-loan-faqs).

/mod note/
It's up to the owner of the bank to set fees - just as it's up to sellers and buyers to set the prices at which they're willing to trade. As with the selling and buying threads, if a price does not suit you, look elsewhere for something that is within your target range.
 
Huge gratz bro! acquiring the bank :cool:

I am very glad that you have accomplished one of your dream goals lot of good things will be happening in Twin Bank ;)
 
Gz on having a bank!

For all you complainers there who say 50% is high interest rate... think for a moment.
90% (if not more) of items are losing value over time ingame, in real life most collaterals dont lose that much value over time.
50% is cheap loan i guess, as i use bank services quite often (ingame).
Example: someone lists 9000ped worth of unrefined stones on auction, i dont have free peds, i pawn few things, buy the ore, refine, sell, and pay back the loan (1 day later). So i have to pay 12ped extra for 9000ped loan to make probably 200peds profit.

There are many cases where you need fast peds to either make money or to avoid losing money (you need to buy esi to chip out some skill that is dropping in price etc).

50% interest rate for economy so unstable is very good interest rate.


For the OP , Twin peaks bank is the best location bank, you could think about renting out spots for others to place their shopkeepers (for example they pay you 2k a month to have their shopkeeper with their stuff standing near the exit (as it is clearly more accessable for clients than any other shopkeeper ingame) Only downside is that you have to fill those shopkeepers yourself (as you are the owner of the estate), anyways something to think about.
 
Based on personal experience in past with Divinity I will not be using this bank and certainly cannot recommend it to anyone.


Divinity I hope you have the worst of luck and your bank fails.
 
In Love With said:
is an annual rate of 50% already considered scamming?

Seriously, that interest rate is a joke. I hope that any potential customer turns around and uses another means to obtain ped until the interest rate is at a level that is more acceptable

Regards
Angel
Click to expand...

So why haven't you bought a bank and started to provide 5-10% loans?
 
Divinity said:
All said and done, I do appreciate your input and if u feel that my reasoning is faulty do point it out. As they say, 100 people with 1% solution to an issue is more probable then 1 person with 100% of the solution.

Cheers,

Divinity
Click to expand...

A pawn shop in germany for example for cars, if your car is worth 4 K Euro you will get 2500 Euro loan on it max, you pay for this service:
1 % interests per month
+ like 3 Euro parking fee per day
+ some more fees
= like 200 Euro costs for your loan/month = close to 100 percent per year

and people still use it, ofc usually not for long times
 
Last edited:
Congratulation on fulfilling your dream!

I would not like to run banking business to be honest, mostly you profit from stupid people going broke :D

50% is a ripoff of course, but it's the way it is right now, and if there are stupid people out there to pay it, then let it be :D
 
You must log in or register to reply here.
Back
Top