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Author name: Vijayakumar MG

Automated BSP FRP Reporting API

12 Common Mistakes to Avoid While Preparing and Filing BSP FRP Reports in the Philippines

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12 Common Mistakes to Avoid While Preparing and Filing BSP FRP Reports in the Philippines Table of content Inconsistent and inaccurate reporting Lack of documentation Incorrect mapping of data Lack of transparency Insufficient validations Inaccurate interpretation of the regulation Inefficient data infrastructure Adhoc changes in response to regulatory changes Unauthorised Report Submissions Uncontrolled manual adjustments …

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Modernizing Core Banking Legacy Systems for Digital Transformation

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Modernizing Core Banking Legacy Systems for Digital Transformation Table of content Introduction The Challenges of Legacy Systems What Works in Core Banking Legacy Modernization Define a clear modernization strategy Embrace an incremental approach Leverage microservices architecture Adopt DevOps practices Ensure data quality and security Building a layer over the core What Doesn’t Work in Core …

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Financial Crimes and Compliance: A Comprehensive Guide

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Financial Crimes and Compliance: A Comprehensive Guide Table of content What are the types of Financial Crimes? What is Financial Crime Compliance? Oracle Financial Crime Compliance Management Profinch: Your Preferred FCCM Partner With the growth of technology and globalization, financial crime has become a growing concern for banking and fintech institutions. Over the years, financial …

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IoT and its significance in Financial Services Industry

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IoT and its significance in Financial Services Industry The Internet of Things (IoT) is bringing in the next industrial revolution and drastically transforming how we live and experience technology today. IoT technology has a positive impact on Fintech companies and banks’ work. Banking is becoming more convenient thanks to the Internet and many connected devices. …

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Revolutionizing Indian Banking Ecosystem With RBI’s Mandate On Digital Banking Unit (DBU)

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Revolutionizing Indian Banking Ecosystem With RBI’s Mandate On Digital Banking Unit (DBU) In the last budget speech, the finance minister announced setting around 75 digital bank units in 75 districts. Closely following the heels, RBI, on 07th April 2022, released a mandate to set up a Digital Banking Unit(DBU). The circular has come into effect immediately. …

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Customer Experience: The Key to Digital Banking Success

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Customer Experience: The Key To Digital Banking Success Context Digital banks are proliferating as mobile technology becomes increasingly prevalent. What factors do customers care about most? The customer experience. Yes, you hear it right! The customer experience is the key to digital banking success. Digital banking customers are becoming more demanding, with expectations that their …

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Open Banking – Collaboration Is The Key

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Open Banking – Collaboration Is The Key Earlier in the Banking industry, customer data and transactions information was available only to the respective banks. With the advent of digitization, Open Banking, and the presence of IoT and machine learning, customer and their transactional information are available for viewing by multiple stakeholders in the banking ecosystem. …

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