scholarly journals Financial flow management of enterprises and state in sustainable development conditions

2021 ◽  
Vol 20 (2(48)) ◽  
pp. 81-97
Author(s):  
O. V. Sadchenko
Keyword(s):  
Sustainable Development ◽  
Personal Identity ◽  
Financial Services ◽  
Flow Management ◽  
Financial Flows ◽  
Services Sector ◽  
Financial Services Sector ◽  
Blockchain Technology ◽  
Financial Flow ◽  
Business Entities

The article examines the main issues of managing financial flows between enterprises and between the state and enterprises based on blockchain technology. Three important functions of the financial services sector based on blockchain technology are considered: at the enterprise, the registration of transactions, confirmation of the personal identity (legal address) and the conclusion of contracts. The operations on the cryptocurrency market, carried out by their participants at their own risk, are described. The article studies approach to the formation of the behavior of business entities in the context of sustainable development, which can be used as an effective tool for increasing the competitiveness of goods (services) in Ukraine.

scholarly journals Ethical Finance in Britain: A Neglected Prerequisite for Sustainability

2003 ◽  
Vol 5 (2) ◽  
pp. 109-133 ◽  
Author(s):  
Benjamin J. Richardson
Keyword(s):  
Sustainable Development ◽  
Financial Institutions ◽  
Financial Services ◽  
Environmental Law ◽  
Capital Allocation ◽  
Environmental Pressures ◽  
Development Patterns ◽  
Services Sector ◽  
Financial Services Sector ◽  
Ethical Finance

Financial institutions play a central role in capital and debt markets, providing the finance that shapes development patterns, and thus environmental pressures. Environmental law has traditionally focused on development itself, but not the capital allocation function. Consequently, the underlying market dynamics and growth imperatives are not adequately addressed. To achieve sustainable development in Britain, new legal tools and policies to promote ethical financing in the financial services sector are necessary. This article explains why ethical financing is important to sustainability, surveys the range of financial institutions in Britain relevant to ethical finance, and makes recommendations to improve the regulatory and institutional context for financing sustainable development.

From East Asian Miracle to Debacle: Bad Banking and Moral Hazard

1998 ◽  
Vol 23 (4) ◽  
pp. 11-22
Author(s):  
Vivek Moorthy
Keyword(s):  
Capital Flows ◽  
Financial Services ◽  
Capital Inflows ◽  
Policy Response ◽  
Private Capital ◽  
Financial Flows ◽  
Services Sector ◽  
Financial Services Sector ◽  
Policy Choices ◽  
Private Capital Flows

This paper by Vivek Moorthy evaluates the policy choices and factors that have contributed to the Asian crisis. It is argued that the interaction between rela - tively closed and weak banking systems and liberalized financial flows played a major role in the crisis. Data on capital flows to Taiwan suggest that the prospect of an IMF bailout is likely to have induced risky private capital flows to East Asia. The appropriate policy response is not to impose sweeping controls⁄ as is often being recommended, but to partially restrict capital inflows while simultaneously free up limited outflows, and also expose the banking and financial services sector to more external competition.

scholarly journals The Uptake and Application of Work Flow Management Systems in the UK Financial Services Sector

1999 ◽  
Vol 14 (2) ◽  
pp. 149-160 ◽  
Author(s):  
Neil F. Doherty ◽  
I. Perry
Keyword(s):  
Customer Service ◽  
Financial Services ◽  
Work Flow ◽  
Management Systems ◽  
Flow Management ◽  
Services Sector ◽  
Financial Services Sector ◽  
Wide Range ◽  
Work Flow Management ◽  
The Way

Work flow management systems (WFMSs) are an important new technology, which are likely to have a significant impact on the way in which clerical and administrative operations are organized and executed. This paper seeks to investigate how WFMSs are being exploited and used commercially by UK-based organizations operating in the financial services sector. In-depth interviews were conducted with 14 project managers to explore the development, application and commercial implications of this powerful yet flexible technology. The results indicate that work flow technology has the potential to facilitate significant changes in the way in which an organization conducts its business, through the automation of a wide range of document-intensive operations. Furthermore, when applied in a well-focused manner, it has the potential to realize significant increases in an organization's flexibility and productivity, as well as delivering major improvements to the quality, speed and consistency of customer service.

Illicit financial flows: HSBC case study

2018 ◽  
Vol 21 (2) ◽  
pp. 231-246 ◽  
Author(s):  
Mohammed Ahmad Naheem
Keyword(s):  
Money Laundering ◽  
Financial Services ◽  
Banking Sector ◽  
Financial Flows ◽  
Content Type ◽  
Services Sector ◽  
Financial Services Sector ◽  
Beneficial Ownership ◽  
Illicit Financial Flows ◽  
The Impact

Purpose This paper provides examples of how illicit financial flows (IFFs) are occurring through the formal banking and financial services sector. The purpose of this paper is to explore which elements of anti-money laundering (AML) compliance need to be addressed to strengthen the banking response and reduce the impact of IFFs within the banking sector. Design/methodology/approach The paper uses a number of sources of secondary data including the Swiss leaks data for HSBC and also the Permanent Sub Committee Report on HBUS in the USA, the OECD report on money laundering compliance and Financial Action Task Force (FATF) guidelines on beneficial ownership. It links this information to the relevant IFF reports produced through Global Financial Integrity to highlight the connection between banking AML compliance and IFF transfers through the banking sector. Findings The main findings from the analysis are that banks have a greater legal responsibility towards detecting and reporting suspicious transactions than they would have previously considered. This includes identifying the source and purpose of fund transfers and establishing the beneficial ownership of recipients. Research limitations/implications The research topic is new; therefore, analysis papers and other academic writing on this topic are limited. Practical implications The research paper has identified a number of implications to the banking sector on addressing AML deficiencies, especially the need to improve standards of beneficial ownership verification and customer due diligence (CDD) checks for politically exposed persons. Social implications This paper has implications for the international development and the global banking sector. It will also influence approaches to AML regulation, risk assessment and audit within the broader financial services sector. Originality/value The originality of this paper is the link between the HSBC cases and IFFs and the implications this will have for future AML compliance processes across the banking sector.

Blockchain technology in financial services: a comprehensive review of the literature

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abhinav Pal ◽  
Chandan Kumar Tiwari ◽  
Aastha Behl
Keyword(s):  
Literature Review ◽  
Systematic Literature Review ◽  
Financial Services ◽  
Distributed Database ◽  
Research Literature ◽  
Comprehensive Review ◽  
Content Type ◽  
Services Sector ◽  
Financial Services Sector ◽  
Blockchain Technology

Purpose The purpose of this study is to thoroughly review studies that have used blockchain technology in financial services. This study will help provide a holistic framework that would highlight the current state and challenges of the blockchain in the financial services sector. Design/methodology/approach The objective of this study is to systematically examine and organize the current body of research literature that either quantitatively or qualitatively explored the use of blockchain technology in financial services. The study uses PRISMA-guided systematic review along with bibliometric analysis to achieve the purpose. Findings This study contributes to the existing literature by exploring and analyzing systematic studies available on blockchain with special reference to financial services sector. With blockchain based on five principles, namely, computational logic, peer-to-peer transmission, irreversibility of records, distributed database and transparency with pseudonym has immense potential to unleash and transform the financial service industry. With increasing blockchain-based operations of decentralized banking, insurance, trade finance, financial markets and cryptocurrency market, the subject is rapidly growing and seeking considerable contribution from scholars from around the world. Research limitations/implications This study uses systematic literature review approach, which has its own demerits. Like other studies based on Systematic Literature Review, this study also suffers from a certain bias such as sample selection bias, publication bias, data interpretation and the combination of quantitative and qualitative studies in the population. Further, the adoption and resultant benefits of blockchain have not been empirically tested. Practical implications This study can help policymakers and institutions in determining their future course of action, as it highlights the state of research in the area of blockchain technology and financial services. Originality/value Very few studies have done a comprehensive review of literature on blockchain in financial services.

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