8,330 research outputs found

    Strategies for Improving Correspondent Banking Cross-Border Remittances

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    Over $25 billion have been levied against banks annually in recent years for infractions and noncompliance with cross-border regulations. Huge costs affect banks\u27 performance, and implementing working strategies that reduce significant costs is valuable. This single case study using systems theory was designed to explore strategies that bank leaders with correspondent banking relationships adapt to reduce costs from penalties and fines in cross-border remittances.Through the process of methodological triangulation, data collected from internal policy and procedural documents supplemented data collected from semistructured interviews. Yin\u27s 5-step qualitative data analysis process of compiling, disassembling, reassembling, interpreting, and concluding was applied to collected data. Emergent themes included developing distinctive cost-reduction strategies, creating unique local bank strategies for an effective cross-border payment system, and using technology as a vital tool to reduce sanction costs. The study may support positive social change affecting individuals, communities, and society by increasing the success of cross-border payments through reduction in the costs of sanctions. Recipients of cross-border remittances benefit from the inflow of funds to cover basic needs such as medicines, education, and living expenses. Governments also benefit in terms of taxes and banks through commissions. The findings from this study may also assist society by supporting efforts to stop illicit international financial flows and combat the financing of terrorism

    Emerging infrastructure policy issues in developing countries - a survey of the recent economic literature

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    The author reviews the recent economic research on emerging issues for infrastructure policies affecting poor people in developing countries. His main purpose is to identify some of the challenges the international community, and donors in particular, are likely to have to address over the next few years. He addresses six main issues: (1) the necessity of infrastructure in achieving the Millennium Development Goals; (2) the various dimensions of financing challenges for infrastructure; (3) the debate on the relative importance of urban and rural infrastructure needs; (4) the debate on the effectiveness of infrastructure decentralization; (5) what works and what does not when trying to target the needs of the poor, with an emphasis on affordability and regulation challenges; and (6) the importance of governance and corruption in the sector. The author concludes by showing how the challenges identified define a relatively well integrated agenda for both researchers and the international infrastructure community.Health Economics&Finance,Decentralization,Banks&Banking Reform,Public Sector Economics&Finance,Environmental Economics&Policies,Banks&Banking Reform,Health Economics&Finance,Public Sector Economics&Finance,Environmental Economics&Policies,Poverty Assessment

    AN AUTOMATED FRAMEWORK FOR ENSURING INFORMATION CONSISTENCY IN PRICE LIST TENDERING DOCUMENT

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    Effective cost estimation for tendering plays a critical role in the building construction process, enabling efficient investment management and ensuring successful execution of the construction phase. Traditional cost estimation procedure involves manual information processing to extract and match technical data from textual description construction resources. This activity requires practitioner deep experience and manual effort, often resulting in errors and, in the worst scenario, judicial disputes. In response to the increasing demand for structured information and automated processes, this study addresses the need for Public Administrations to achieve better control over the data contained in public tendering documents provided to practitioners. To fulfill this objective, a framework is proposed to automatically retrieve information from these documents, serving as a support tool to map items within the documents, highlight missing data, and critical semantic ambiguity. The designed framework aims to develop a tool for automatically identifying similarities between work items and their corresponding elementary resource items in Price List tendering documents. By leveraging the information retrieval NLP technique of cosine similarity through TF-IDF, a methodology was developed to support and facilitate practitioners' activities. Finally, the framework was tested on four case studies extracted from Lombardy Regional Italian price list documents showing that the resulting support tool is able to automate the analysis process and efficiently reveal inconsistency. The model successfully extracted and correctly matched the elementary resource to the corresponding work query in 75% of the cases where the elementary resource was present in the list. Additionally, the model proved to be a valuable tool in helping practitioners identify missing resources

    Artificial Intelligence and Bank Soundness: A Done Deal? - Part 1

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    Banks soundness plays a crucial role in determining economic prosperity. As such, banks are under intense scrutiny to make wise decisions that enhances bank stability. Artificial Intelligence (AI) plays a significant role in changing the way banks operate and service their customers. Banks are becoming more modern and relevant in people’s life as a result. The most significant contribution of AI is it provides a lifeline for bank’s survival. The chapter provides a taxonomy of bank soundness in the face of AI through the lens of CAMELS where C (Capital), A(Asset), M(Management), E(Earnings), L(Liquidity), S(Sensitivity). The taxonomy partitions opportunities from the main strand of CAMELS into distinct categories of 1 (C), 6(A), 17(M), 16 (E), 3(L), 6(S). It is highly evident that banks will soon extinct if they do not embed AI into their operations. As such, AI is a done deal for banks. Yet will AI contribute to bank soundness remains to be seen

    Banking in a Global Market: A Financial Institution Guide for Offering International Remittance Services

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    Provides a detailed overview of the U.S.-Latin America remittance market, and offers a step-by-step guide to setting up transparent and efficient remittance services. Includes summaries of six product approaches and profiles of programs at eleven banks

    Software Evolution for Industrial Automation Systems. Literature Overview

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    Integrative Trust-Based Functional Contracting: A Complementary Contractual Approach to BIM-Enabled Oil And Gas EPC Project Delivery

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    The research has successfully bridged the gap between contractual and technological practices for the Engineering, Procurement and Construction (EPC) contracts in oil and gas projects. It has identified the related Building Information Modelling (BIM) uses and developed an integrative trust-based functional contracting that complement to EPC contracts. The research contributes to new functional perspectives of contracting and also provides significant insights into the proper use contract functions for improving BIM-enabled projects’ performance

    An Outcome-Based Approach for Ensuring Regulatory Compliance of Business Processes

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    In service industries, such as healthcare, catering, tourism, etc., there exist regulations that require organisations’ service comply with the regulations. More and more regulations in the service sector are, or are aimed to be, outcome-focused regulations. An outcome prescribed in the regulation is what users should experience or achieve when the regulated business processes are compliant. Service providers need to proactively ensure that the outcomes specified in the regulations have been achieved prior to conducting the relevant part of the business or prior to inspectors discovering noncompliance. Current approaches check system requirements or business processes, not outcomes, against regulations and thus this still leaves uncertain as to whether what the users actually experience are really achieved. In this thesis, we propose an approach for assessing the compliance of process outcomes and improve the noncompliance. The approach is designed through the U.K’s. CQC regulations in the care home environment

    Serbia - public sector accounting review : report on the enhancement of public sector financial reporting

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    The government’s public financial management (PFM) Reform Program 2016-2020 foresees the gradual transition of public sector financial reporting from a cash basis to an accrual basis of accounting and the application of International Public Sector Accounting Standards (IPSAS). This will significantly improve the quality of financial information and should enable better informed decision-making, more efficient use of public funds and resources and improved fiscal performance. This Report on the Enhancement of Public Sector Financial Reporting is one output of the Serbia Public Sector Accounting Reform Technical Assistance project funded by the Swiss State Secretariat for Economic Affairs (SECO) through the Strengthening Accountability and Fiduciary Environment (SAFE) Trust Fund under the Public Sector Accounting and Reporting Program (PULSAR) which provides support for the development and implementation of public sector accounting standards. This report supports the development of a plan towards that goal by assessing the institutional framework for public sector accounting as well as the gap between Serbian public sector generally accepted accounting principles (PS GAAP) and IPSAS
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