Collaborating to Win the Fight Against Financial Crime

Managing ever evolving financial crime threats and meeting associated compliance requirements is operationally demanding and costly for financial institutions. Technology — including AI — has enhanced detection capabilities, reduced false positives and enhanced the productivity of staff supporting case investigations, Know Your Customer (KYC) processes and more. And end-to-end digital onboarding for retail customers has become a reality in many markets. And yet, there are still gaps to close and efficiencies that may be derived from collaboration between financial institutions.

Regulators in many parts of the world have recognized the need for some form of intelligence sharing— particularly for Anti-Money Laundering (AML) operations. These efforts have also generally been encouraged by supranational bodies like the Financial Action Task Force (FATF) and Europol.

The UK led the way with a high level approach to intelligence sharing with the formation of the Joint Money Laundering Intelligence Taskforce (JMLIT) in 2015. The JMLIT forum includes 40+ financial institutions, the Financial Conduct Authority and five law enforcement agencies. It shares information on “new typologies, existing vulnerabilities, and live tactical intelligence”.

As a result of the initial success with this approach in the UK similar organizations have been formed in other countries in the past five years. In most cases the aim is to track _trends _in criminal activity and to adapt detection and compliance approaches. KYC or transaction data is seldom shared at significant volume as a matter of course through these bodies.

The chart below provides an overview of some of these organizations founded in the past five years.

#fraud-detection #aml #machine-learning #deep learning

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How to Choose the Team Collaboration Software

Teams spread over remote locations as well as the office are increasingly in vogue. As the coronavirus pandemic spreads in 2020, it has also resulted in increased reliance on distributed teams. These teams provide a huge amount of benefits and also pose a set of unique problems. Businesses are not surprisingly continually updating how they manage distributed teams. They are also increasingly using team collaboration software to overcome the challenges that distributed teams pose. So continue reading, to find the latest information on software that helps in the coordination and managing of distributed teams.

Overview of Distributed Team Management

1. Communication is the key

The cornerstone of managing a distributed team is communication. In a distributed team relying on email alone is just not an option. So there is an ever-present need to adopt the best team communication software tools available and provide feedback routinely.

2. Management of productivity

A distributed team’s productivity can be high at certain times and then fall off. To ensure that team productivity remains at optimum levels managers need to be able to monitor it. Managers also need the best team messaging collaboration solution to manage the productivity of individuals and the team.

3. Solid tech infrastructure

Cutting edge tech infrastructure is the backbone of a business communication solution. Using this infrastructure, managers can efficiently monitor employees and their work. Additionally, employees can use the tech infrastructure to ensure work is completed on time.

4. Advanced security features

Working in distributed teams often means having to deal with security issues that crop up when people work from home. Also within such teams steps have to be taken to ensure that data and customer information remains secure when transmitted.

5. Elevating team spirit and morale

Within an office, teams interact easily and managers can keep an eye on morale and team spirit. In distributed teams, the process of keeping team spirit and morale bubbling with energy is much more complex. The process requires the team and manager to put in extra effort and rely on the aid of group collaboration software.

#team-collaboration #collaboration #online-collaboration-tools #collaboration-tools #api

Global Recruitment Sourcing Services and Solutions | DK Business Patron

DK Business Patron, one of the most renowned firms in the outsourcing industry has launched its new Global financial research services. This addition to their existing ongoing business ventures will not only open new dimensions of the global market but will also help DK Business Patron to explore different aspects Financial research.

The new Global financial research services department would comply with all the associative services that are linked to finance and research. From asset management support to equity research, DK Business Patron has a team of well-trained managers that are quite capable of providing the desired services to the clients.

The new service shall have a combined package of Investment research, Sell-side research, corporate finance support, asset management support, investment banking support, equity research, financial research reports, and financial analysis. This package is designed keeping in mind all the necessary outsourced investment research services that a client shall require in the long run.

Unlike other outsourcing companies in India, DK Business Patron does not work just to provide services in return for the revenue generated. Rather, it believes in developing a strong client relationship which is possible only by satisfying the clients with its services. Which makes the launch of the new global financial research services another move towards increasing the already built international clientele.

DK Business Patron is an essential component in the outsourcing industry and has been providing outsourcing solutions to numerous clients for more than 8 years. Being a trusted company, DK Business Patron has earned the loyalty of a huge number of small as well as medium scale industries.

Being associated with outsourcing business for almost a decade has given DK Business Patron an upper hand in recognizing and establishing links with the target market. Launching a whole new global financial research services unit will not only help in increasing global connectivity and reach but would also aid in penetrating the outsourced financial research services segment.

Outsourcing financial research services have been in trend in the contemporary era. It not only provides strategic benefits but also helps in cost-saving and risk-sharing. Investments are a crucial part of the business and to find out the most beneficial investment seems to be the trickiest of all.

DK Business Patron claims to deliver services that would not only show tangible growth but would also focus on intangible aspects that lead to prosperity and development. Personnel trained especially to satisfy the customers in each and every aspect that is demanded has been set up in each department of the financial research services unit.

For a long time, India has become the hub of outsourcing services demanded by offshore clients. DK Business Patron has been one of the leading service providers in India for more than 8 years. Being situated in Delhi has given the firm required modernity and techno-savvy environment that any business enigma would require to cope-up with the testing competitive times.

After being associated with BPO Solution, KPO solution, and other IT-related outsourcing services, DK Business Patron has now decided to step foot into the financial sector with its new global financial research services. This move is surely going to be revolutionary and would turn around tables in the global market.

Building long-lasting relationships with the clients and smooth functioning have been strong points for DK Business Patron which helped it to open new dimensions of outsourced investment research services.

Industries usually outsource their business when the need to focus on core business activity intensifies. This makes it even more risky to handover secondary business activities in the hands of a third party. DK Business Patron has earned the trust of all the clients associated with it to date. It has not only stood up to the mark by providing satisfactory services but even after being a service provider, has been working dedicatedly just like an in-house unit.

Keeping in mind the ultimate goal of satisfying its clients and working together with them as one unit, the launch of the new global financial research services by DK Business Patron is going to be utterly profitable for all the new investors looking for a helping hand to thrive in the global market.

#outsourcing solutions #financial research #financial research services #financial research solutions #outsourced financial research services #financial research service outsourcing

Why is Quick Dev Collaboration A Massive Headache?

COVID-19 has undoubtedly exacerbated the feeling, but who else thinks collaborating or merely communicating with your teammates on code is far from convenient, especially when it comes to quick problem resolution?

As software engineers, we are all too familiar with being stuck on a problem for hours, whereas it’s solution turns out to be a single line of code or even less. Let’s have a deeper dive into one such basic, however frequent situation.

Say my teammate works on an issue that I happen to be more familiar with than them. So my teammate is stuck and can’t be bothered to resolve the issue communicating. Why? Because it is a pain in the a!**

#collaboration #team-collaboration #remote-work #software-development #latest-tech-stories #coronavirus-impact-on-business #coronavirus #developer-collaboration

How Much Does It Cost To Develop a Financial App ?

The financial apps will help in managing savings accounts and tracking debits, deposits & credit scores at any time from any place. Financial apps bring all your financial information into one platform & secure your finances efficiently.

How much does it cost to build a finance app?

The development cost of the finance app will be around $20,000 to $1,50,000. But, the cost to build a finance application depends on various factors like features, platform, app design, development time, team size & location.

• The development cost of a finance app with basic features with simple UI for a single platform will be around $20,000-$40,000.
• The cost to build the best-in-class banking app with advanced features will range from $40,000-$80,000.
• The development cost to create feature-rich financial & banking apps for Android/iOS with complex UI will reach around $80,000-$1,50,000.

AppClues Infotech is one of the best & most trusted mobile app development company in USA, has a proven track record of successful mobile apps, including finance & banking apps. We develop the trendiest Android, iOS & Cross-Platform apps within deadlines as promised.

We develop results-driven financial apps that provide seamless performance & ensure high security to customer’s confidential data.

Talk to our app development experts and get a free quote for your financial app.

#how much does it cost to develop a finance app #top financial app development company in usa #financial software development company usa #financial & banking mobile application development #finance app development #best financial app developers

Collaborating to Win the Fight Against Financial Crime

Managing ever evolving financial crime threats and meeting associated compliance requirements is operationally demanding and costly for financial institutions. Technology — including AI — has enhanced detection capabilities, reduced false positives and enhanced the productivity of staff supporting case investigations, Know Your Customer (KYC) processes and more. And end-to-end digital onboarding for retail customers has become a reality in many markets. And yet, there are still gaps to close and efficiencies that may be derived from collaboration between financial institutions.

Regulators in many parts of the world have recognized the need for some form of intelligence sharing— particularly for Anti-Money Laundering (AML) operations. These efforts have also generally been encouraged by supranational bodies like the Financial Action Task Force (FATF) and Europol.

The UK led the way with a high level approach to intelligence sharing with the formation of the Joint Money Laundering Intelligence Taskforce (JMLIT) in 2015. The JMLIT forum includes 40+ financial institutions, the Financial Conduct Authority and five law enforcement agencies. It shares information on “new typologies, existing vulnerabilities, and live tactical intelligence”.

As a result of the initial success with this approach in the UK similar organizations have been formed in other countries in the past five years. In most cases the aim is to track _trends _in criminal activity and to adapt detection and compliance approaches. KYC or transaction data is seldom shared at significant volume as a matter of course through these bodies.

The chart below provides an overview of some of these organizations founded in the past five years.

#fraud-detection #aml #machine-learning #deep learning