scholarly journals Methods for risk management architecture in payment systems

2017 ◽  
Vol 23 (31) ◽  
pp. 1832-1849 ◽  
Author(s):  
M.N. Masino ◽  
◽  
A.V. Larionov ◽  
Keyword(s):  
Risk Management ◽  
Payment Systems ◽  
Management Architecture

scholarly journals A Cyber-Resilience Risk Management Architecture for Distributed Wind

2021 ◽  
Author(s):  
Megan J. Culler ◽  
Sean Morash ◽  
Brian Smith ◽  
Frances Cleveland ◽  
Jake Gentle
Keyword(s):  
Risk Management ◽  
Management Architecture

scholarly journals Regulation and Risk Assessment of Payment Systems

2019 ◽  
Vol 9 (3) ◽  
pp. 40-55
Author(s):  
A. V. Larionov ◽  
E. S. Salina
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Risk Analysis ◽  
Management System ◽  
Payment System ◽  
International Standards ◽  
Management Systems ◽  
Practical Implementation ◽  
Payment Systems ◽  
Risk Management System

The study reveals features of the risk management in the payment system, taking into account the requirements of the Bank of Russia. Particular emphasis is placed on the implementation of practical aspects of organizing risk management systems in conformity with Bank of Russia Regulation No. 607-P dated 03.10.2017 “On requirements for the procedure for ensuring the smooth functioning of the payment system, indicators of the smooth functioning of the payment system and methods of risk analysis in the payment system including risk profiles”. The research uses international standards and approaches to the practical construction of risk management systems. The research suggests methodological recommendations for the construction of a comprehensive risk management system in the payment system. The results of the study can be used in the practical implementation of the Bank of Russia’s approaches to ensuring the smooth functioning of payment systems.

scholarly journals A Goal-driven Risk management approach for Distributed Agile Development Projects

2019 ◽  
Vol 23 ◽  
Author(s):  
Suprika Vasudeva Shrivastava ◽  
Urvashi Rathod
Keyword(s):  
Risk Management ◽  
Project Performance ◽  
Project Managers ◽  
Agile Development ◽  
Management Approach ◽  
Time Cost ◽  
Performance Goal ◽  
Team Collaboration ◽  
Software Companies ◽  
Management Architecture

Software companies are now using Distributed Agile Development (DAD) in order to create high quality solutions, which aligns with the business priorities of lesser time and cost. Although, DAD is beneficial, there are significant risks involved in such projects. In order to minimize the adverse effect of risks on DAD projects, it is imperative to understand, how the risks impact the project performance goals including ‘Time’, ‘Cost’ and ‘Quality’. In this paper we present a goal driven approach for managing risks in DAD projects. This approach of risk management will enable project managers to identify the most important risks with respect to the goal to be achieved and focus on managing those risks first. The study shows that if ‘Time’ is a considered goal for a DAD project, the most important risks that would need consideration are related to requirement management, architecture changes and coordination issues between stakeholders. Similarly, if ‘Quality’ is the primary performance goal in a DAD project, it would be necessary to first deal with risks related to internal and external communication in the organization, team collaboration and requirement documentation availability. The awareness of top ranking risk factors that impact a particular project goal will assist the projects managers to control the risks in a way that the desired project goals can be achieved.

Evolution, Development and Growth of Electronic Money

2011 ◽  
pp. 249-268
Author(s):  
A. Seetharaman ◽  
John Rudolph Raj
Keyword(s):  
Risk Management ◽  
Rapid Change ◽  
Management Approach ◽  
Electronic Payment ◽  
Payment Systems ◽  
Electronic Cash ◽  
Electronic Money ◽  
Electronic Payments ◽  
Problems And Solutions

Traditional cash has long been envisioned to be replaced with ‘virtual’ or electronic cash. Electronic money and electronic payment systems for retail transactions are commanding widespread attention. Undeniably, electronic payment cites advantages such as efficiency and convenience to the consumers. However, with the rapid change and advances in technology, has posed significant risks, related to ensuring security and integrity of electronic payment systems in today’s cyber world. Therefore, this study attempts to understand the role of electronic payments for consumers, and to identify the problems and solutions in the emergence of electronic payments. This study also explores the challenges of electronic payments from a security perspective, in particular, and provides preliminary security countermeasures for each of the issues discussed. Beside that, the study also discusses further on the prospects of electronic payment systems. It is essential to put in place an integrated, overall risk-management approach to security, including independent security assessments as one of the components in the use of electronic payment products.

scholarly journals Risk management related to the use of payment systems

2021 ◽  
pp. 30-35
Author(s):  
Vladislavа USYK ◽  
Serhii VOITKO
Keyword(s):  
Risk Management ◽  
Credit Risk ◽  
Liquidity Risk ◽  
Payment System ◽  
Management Policy ◽  
Professional Activity ◽  
Factor X ◽  
Currency Risk ◽  
Payment Systems ◽  
Modeling Tools

Payment system is a complex system of managing funds transfers and settlements between economic entities, which ensures the rational implementation of the basic functions, uninterrupted financing of activities using the latest methods and payment instruments used to reduce cash flow and ensure the effectiveness of monetary, monetary policy countries. In the course of its functioning, the payment system, like any economic system, can be exposed to the risks of its professional activity. Characteristic risks of the payment system are credit risk, liquidity risk, currency risk, operational, legal and systemic. In the event of risks, an effective management system should be implemented, taking into account all possible scenarios of impact, both micro- and macroeconomic factors, which could cause significant losses at all levels of government. An important aspect of a payment system's risk management policy is that it is adequately assessed. The main stages of assessing the level of financial risks generated by the use of payment systems and their impact on the performance indicators are: 1. Systematization and formalization of financial risk factors generated by the use of payment systems. 2. Constructing a multiple multivariate regression equation, realizing the relation between factor (X) and performance (B). 3. The choice of factor traits to include them in the equation of the economic-mathematical model of standardized regression. 4. Economic interpretation of the results of correlation-regression analysis and their use in the decision-making process. Information base for assessing the level of risks generated by the use of payment systems is the NBU's official data on the activity of Ukrainian banks. It should be noted that the most sensitive to the risks generated by the use of payment systems are: liquidity risk; credit risk, currency risk. Thus, in a context of uncertainty and environmental volatility for banking institutions, the strategic aspect should be to focus on securing competitive positions, determining the acceptable level of risk through the use of the latest economic and mathematical modeling tools, extrapolation forecasting, fuzzy set theory, and choice of payment systems with them should be a strategic priority for each organization.

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