Know Your Clients' behaviours: a cluster analysis of financial transactions

In Canada, financial advisors and dealers are required by provincial securities commissions and self-regulatory organizations--charged with direct regulation over investment dealers and mutual fund dealers--to respectively collect and maintain Know Your Client (KYC) information, such as their age or risk tolerance, for investor accounts. With this information, investors, under their advisor's guidance, make decisions on their investments which are presumed to be beneficial to their investment goals. Our unique dataset is provided by a financial investment dealer with over 50,000 accounts for over 23,000 clients. We use a modified behavioural finance recency, frequency, monetary model for engineering features that quantify investor behaviours, and machine learning clustering algorithms to find groups of investors that behave similarly. We show that the KYC information collected does not explain client behaviours, whereas trade and transaction frequency and volume are most informative. We believe the results shown herein encourage financial regulators and advisors to use more advanced metrics to better understand and predict investor behaviours.Comment: 38 pages, 12 figure

Band Structures of Symmetrical Graphene Superlattice with Cells of three Regions

We study the electronic band structures of massless Dirac fermions in symmetrical graphene superlattice with cells of three regions. Using the transfer matrix method, we explicitly determine the dispersion relation in terms of different physical parameters. We numerically analyze such relation and show that there exist three zones: bound, unbound and forbidden states. In the central zone of the band structures, we determine and enumerate the vertical Dirac points, opening gaps and additional Dirac points. Finally, we inspect the potential effect on minibands, the anisotropy of group velocity and the energy bands contours near Dirac points. We also discuss the evolution of gap edges and cutoff region near the vertical Dirac points.Comment: 19 pages, 10 figure

2017 Trade Finance Gaps, Growth and Jobs Survey

Key Points • The global trade finance gap is estimated at $1.5 trillion. • 40% of the gap originates in Asia and the Pacific. • 74% of rejected trade finance transactions come from SMEs and midcap firms. • Female-owned firms report higher rejection rates, and are less likely to find alternatives in the formal financial sector. • At least 36% of rejected trade finance may be fundable by other financial institutions. • A 10% increase in trade finance could boost employment by 1%. • 80% of banks report digitization will cut costs, yet no evidence that savings translate to tional trade finance apacity

Customer Due Diligence and Its Role To Prevent The Global Economic Threat: Indonesian Anti Money Laundering Perspectives

Money laundering and financing of terrorism is one of the global threats which may occur problems for the economics of the world. The effect of Money Laundering and financing of terrorism have been manifested in the life of the nations. According to its characteristic as a transnational crime, Money laundering and financing of terrorism have been a major concern of all the countries and law enforcement agents. In this situation, law shall be a major instrument to tackle money laundering and financing of terrorism, but Customer Due Diligence and Enhance Due Diligence plays a great part to prevent money laundering and other variant of crime. The effective and efficient measure to recognize the customer who has a suspicious character of money laundering and financing of terrorism is using the method of knowing correctly and precisely their customer’s profile. Customer Due Diligence is the first resort which may operate as the first procedure which should be taken by all Financial Services Provider and also Goods and Services Providers. As a tool, Customer Due Diligence should be followed by the professionalism and awareness of the parties involved, such as bank and goods and service providers, since it is not easy to recognize the money laundering and also financing of terrorism. The presence of Law Number 8 of 2010 of Republic of Indonesia actually tries to strengthen the implementation of the Principle of Know Your Services Users or also known as the Know Your Customer Principle

The patterning of finance/security : a designerly walkthrough of challenger banking apps

Culture is being ‘appified’. Diverse, pre-existing everyday activities are being redesigned so they happen with and through apps. While apps are often encountered as equivalent icons in apps stores or digital devices, the processes of appification – that is, the actions required to turn something into an app – vary significantly. In this article, we offer a comparative analysis of a number of ‘challenger’ banking apps in the United Kingdom. As a retail service, banking is highly regulated and banks must take steps to identify and verify their customers before entering a retail relationship. Once established, this ‘secured’ financial identity underpins a lot of everyday economic activity. Adopting the method of the walkthrough analysis, we study the specific ways these processes of identifying and verifying the identity of the customer (now the user) occur through user onboarding. We argue that banking apps provide a unique way of binding the user to an identity, one that combines the affordances of smart phones with the techniques, knowledge and patterns of user experience design. With the appification of banking, we see new processes of security folded into the everyday experience of apps. Our analysis shows how these binding identities are achieved through what we refer to as the patterning of finance/security. This patterning is significant, moreover, given its availability for wider circulation beyond the context of retail banking apps

Constraints on extra dimensions from precision molecular spectroscopy

Accurate investigations of quantum level energies in molecular systems are shown to provide a test ground to constrain the size of compactified extra dimensions. This is made possible by the recent progress in precision metrology with ultrastable lasers on energy levels in neutral molecular hydrogen (H$_2$, HD and D$_2$) and the molecular hydrogen ions (H$_2^+$, HD$^+$ and D$_2^+$). Comparisons between experiment and quantum electrodynamics calculations for these molecular systems can be interpreted in terms of probing large extra dimensions, under which conditions gravity will become much stronger. Molecules are a probe of space-time geometry at typical distances where chemical bonds are effective, i.e. at length scales of an \AA. Constraints on compactification radii for extra dimensions are derived within the Arkani-Hamed-Dimopoulos-Dvali framework, while constraints for curvature or brane separation are derived within the Randall-Sundrum framework. Based on the molecular spectroscopy of D$_2$ molecules and HD$^+$ ions, the compactification size for seven extra dimensions (in connection to M-theory defined in 11 dimensions) of equal size is shown to be limited to $R_7 < 0.6 \mu$m. While limits on compactification sizes of extra dimensions based on other branches of physics are compared, the prospect of further tightening constraints from the molecular method is discussed

Haldane Statistics for Fractional Chern Insulators with an Arbitrary Chern number

In this paper we provide analytical counting rules for the ground states and the quasiholes of fractional Chern insulators with an arbitrary Chern number. We first construct pseudopotential Hamiltonians for fractional Chern insulators. We achieve this by mapping the lattice problem to the lowest Landau level of a multicomponent continuum quantum Hall system with specially engineered boundary conditions. We then analyze the thin-torus limit of the pseudopotential Hamiltonians, and extract counting rules (generalized Pauli principles, or Haldane statistics) for the degeneracy of its zero modes in each Bloch momentum sector.Comment: 19 pages, 5 figure