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Automating Anti Money Laundering Checks for Clean Customer Base

The fast-growing economies in the world are under huge threats. Slovakia, Guyana, Ethiopia, Czech Republic, and many others have a high projected growth rate with respect to their economies.

It is estimated that Guyana will have a projected growth rate of about 16.3% during the period 2018-2021, the fastest growing economy in the world. In all these countries, economic conditions will continue to improve having a rising GDP level as well as foreign exchange.

However, unfortunately, there are several challenges that such economies are facing. These challenges correspond to financial crimes such as money laundering and terrorist financing

Security Challenges for Financial Industries

The Security for financial industry is always prone to severe financial challenges among which the filtration of bad actors from the legitimate financial system has always been a goal

This is the reason that regulatory authorities came up with stringent regulations across the world in which banks and financial institutions need to be vigilant in their processes.

Bad actors in the financial system perform various malevolent activities due to which regulatory authorities have made it an obligation for institutions to perform ‘due diligence’ on the customers.

Financial Technology is Helpful…How?

The world is getting digitised. From the banking industry to healthcare and travel to retail, all industries are taking advantage of technological advancements paving their way for customers dealing. Moreover, they help fight against the bad actors in the system.

Similarly, banks and financial institutions can take into account financial technology and pave the way for the Fin tech industry as well. Financial technology helps fight against the bad actors by authenticating them online just the way banks do. Keeping both technology and streamlined financial services is not a dream now.

Modern technology is capable of dealing with bad actors online. They are able to verify each on boarding customer complying with the KYC (Know Your Customer) and Anti Money Laundering Check (AML) regulations.

The money launderer finds new ways to fool the financial systems. They do so by presenting false documents and identity to conceal the bad money. These instances can be mitigated by employing strong technology that could differentiate between the spoofing elements as well as photoshopped documents.

KYC verification process involves identity verification against documents and some other attributes. Biometric technology is integrated with online banking portals to identify and verify the customers in seconds.

The technology is able to detect the spoofing elements in the picture if any and performs face verification to ensure controlled access over the confidential accounts. This helps mitigate the risks of cyberattacks in a financial system.

Anti-money Laundering Measures

As economies are expanding their scope, businesses need to implement the methods in systems that help them identify each on boarding identity to fight against money launderers.

Anti-money alluring checks are already implemented in the identity verification API integrated with the financial system. That API is powerful enough to screen each customer against updated global watchlists, sanction lists, and databases of Politically Exposed Persons (PEPs).

In this way, customer identification is done. This approach corresponds to AML procedures that financial institutions need to perform to ensure a clean customer base.

KYC Verification Process helps financial businesses to ensure security as well as online user experience. To conclude, the increasing complexity in financial systems requires vigilant measures by financial businesses to deal with bad actors.

Institutions need to comply with regulatory obligations, security issues as well as online customer experience. Financial technology can help businesses achieves all these goals simultaneously.

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Can Mobile App Notifications Replace Cancellation Notices?

P&C insurers are required to notify policyholders when their policies are cancelled for any reason. If they do not, and a former policyholder’s claim is rejected, they can be sued for damages well in excess of the claim. To protect themselves, many insurers maintain various kinds of evidence that Cancellation Notices were sent.

One compelling piece of Cancellation Notification evidence could be mobile app notifications sent directly to a canceled policyholder’s phone. The mobile app notifications could include links to Cancellation Notices and could be logged for future reference, reducing doubt that the policyholder was made aware that the policy was cancelled. This evidence creates a “digital audit trail” showing the insurer has made every reasonable effort to ensure that policyholders are notified of cancellation.

While a mobile app notification will not replace a government mandated, mailed Cancellation Notice in most states, Insurers can help to reduce the frequency and cost to litigate “bad faith” cancellation lawsuits by adding mobile notifications to their policyholder communication channels. Notification Management is one of the valuable benefits of a robust mobile policy services app. The low cost of a mobile app is typically far less than the high cost of a single judgement against the insurer.

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How To Increase Sexual Desire And Libido In Women Naturally?

Lack of sex drive in women is a major problem today. In fact, it is the cause of worry since women no more enjoy intimate pleasure. For the growing number of ladies, relationship issues, job pressure, declining hormones and other problems are taking a toll over their sex life. Most of the cases are directly related to stress and worries. HSDD or Hypoactive Sexual Desire Disorder is the most common sexual dysfunction suffered by women of almost all ages. A combination of mental and physical factors results in loss of sex drive.

If you want to increase libido in women and are confused how to increase sexual desire in women, use herbal products that are specifically meant to address the problem. A lot of hormonal changes take place during a child’s birth, menopause phase and so woman find lovemaking act boring and dull. If you are tired of expecting a favourable response from your partner on bed, buy her Lady Fire capsules. Women experiencing a significant decrease in interest in intimate pleasure must use the pills regularly.

Women suffer from low libido and frigidity more than men. Different phases of a woman’s life strains the reproductive system and the overall health as well. Lower energy levels, stress, hormonal imbalance are the leading causes of loss of sex drive. Using female libido enhancing pill is the only way to restore love and romance in the conjugal life. Lady Fire capsule can increase libido in women since it has all the highly beneficial and powerful herbs.

The capsules come loaded with natural herbs that can address the cause of frigidity and reverse the bad effects of hormonal imbalance. It powerfully addresses issues like poor nutrition, hormonal changes during pregnancy, childbirth and menopause. As per the reviews posted online, the herbal capsules directly address the root cause of the problem to eliminate them. So, those who wonder how to increase sexual desire in women, they can exercise two units of Lady Fire capsules twice daily with milk, water or juice continuously for 4 to 6 months. This will bring about long-lasting or permanent results.

Lady Fire capsules are the blend of magical herbs that tend to suppress stress and anxiety, improves stamina, youth, vigor and vitality. After using the pills as directed, a woman is sure to gain back interest in the act of lovemaking since it revitalises the reproductive system and increases the blood flow towards the genital organ. Natural herbs like ashwagandha, Shatavari, Safed Mushli, Kali Musli, Lauh Bhasma, Ras Sindoor Bhasma are included. Ashwagandha can magnificently curb vaginal dryness, itching, infection and will totally rejuvenate the organ. All the mentioned ingredients have proven track record and hence they increase libido in women. Organic components of the capsules are anti-bacterial, anti-inflammatory and natural aphrodisiacs.

Lady Fire capsules promote cell regeneration and strengthen the tissues. The improved nerve functioning will facilitate quick arousal. The herbal pills will efficiently regulate the mucous glands in the genital passage to keep it well lubricated.

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