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Client Risk Assessment by Banks : Team Sport Rather Than A Solitary Player’s Game

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Client Risk Assessment (CRA) is a crucial element for banks and financial institutions that are engaging with and servicing a wide spectrum of clients. But are banks and financial institutions best and appropriately positioned to perform a comprehensive risk assessment of all the clients – both New to Bank and Existing to Bank?   Do they have the exhaustive data sets, client behaviour patterns, all wealth sources and other required inputs for any and all clients – both prospective and existing clients? The answer could be No. As part of the Client Due Diligence (CDD) process, assessing client’s profile in terms of their risk profile is a critical step for any bank or a financial entity. Organisations have made extensive improvements in this area and have deployed sophisticated models, rule engines and analytical systems to assess each client (individual or entity) across various parameters such as industry, source of wealth, geographic region / country, political exposure, initia...
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Selecting Fit-for-Purpose Technology Solutions for Banks - Decision Box Framework

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What makes a technology solution a go-to business solution? How should a bank make this critical decision of selecting the best-fit technology solution, on which key business services are going to be reliant on? Is it a Technology decision only or a business decision as-well? The answer may not be straight forward and standard for each banking organisation. It depends on the Undesired Present , the Desired Future and the Anticipated Journey from the former to the later.   Banks have been going through a series of transformations over the last few decades with an attempt to ride the technology wave and leveraging it to improve product and services offerings across multitude of business functions. In this context of ever changing technology architecture and solution landscape, banking organisations are making continuous attempts to define, create, select and implement technology driven business solutions, attempting to change the status quo. Decision Box Framework , for effec...
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Payment Processing Engines and Implementation Models : A strategic decision for banks

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Banking industry has been witnessing technology led disruptions, driving banks and financial institutions at large to embrace, adapt and leverage on this technology focused  new world order.  With the arrivals of Fintechs, to this already complex and competitive game of pocketing bigger slice of the money pie, the industry is experiencing a large scale transformation and vibrancy in the Payments space with the entire ecosystem including the Regulatory organisations, intermediaries, banks and financial institutions, technology solution providers and customers contributing and playing their part effectively. For Banks to continue to compete in the payments business and improve the market and revenue share, selecting the right payments solution and its implementation model is of paramount importance; and this selection definitely is not based on a "one-size-fits-all" formula.  The payment engine which is most suitable for a particular bank depends on multitude of factors: (1...
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