Huge amounts of fines and penalties are imposed on banks and other financial institutions for paving the way for criminals to use their systems to launder money. This reinforces the value of employing robust AML (Anti-money Laundering) automated solutions. Based on a study by PwC, a total amount of USD 1 trillion to 2 trillion was laundered globally in 2020, which accounts for approximately 5% of the total GDP. Automated AML solutions and specific AML programs have the ability to safeguard an institution from crimes such as money laundering and the financing of terrorist organizations. In this article, we will be discussing how anti-money laundering solutions work to eliminate money…
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Everything You Need To Know About Debt Consolidation
If you have been wanting to learn about debt consolidation, then this is the piece which is apt for you. Here, you will find everything related to consolidation. In addition to this, we have also shed some light on Missouri debt statistics. Thus, let us get going without any further ado. To all those of you who are new to the term “debt consolidation”, it is explained as a procedure where you make use of one particular loan or credit card so that your previous loan amount can be paid back. Doing so will make it easy and hassle free for you to handle the debt repayment. Basically, instead…
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How To Stick To Your Financial Resolutions
This is the year you follow through. This is the year you adhere to your goals and become financially fit. Whatever your needs are; whatever you wrote down at the end of last year; whatever is on your wishlist, you’ll need a pretty serious plan to achieve. Here are 3 simple tips that will actually help you stick to your new year’s resolution goals. Implement a SMART Strategy One of the biggest issues with financial resolutions is that oftentimes there isn’t a tangible plan in place. Resolving to save money is great, but come June, without some sort of system or strategy you won’t find yourself succeeding. If you’re…
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Get To Know Everything About Loan Underwriting Process
Whether it is a business loan, home loan, personal loan, or car loan, the underwriting system is a vital aspect of the loan procedure. During the procedure of underwriting, the lender gauges the creditworthiness of the borrower and assesses no matter if the applicant is able to meet the criteria of the loan or not. Factors affecting loan underwriting There are some factors that surely affect loan underwriting. Below mentioned are some. 1. Credit score: This is one of the most crucial factors that do influence loan underwriting. When it comes to the credit score, it showcases your creditworthiness and explains how prudent you have been in handling and repaying…
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Diversify your investments by opening your self-directed IRA
Diversification of assets is the number one reason why many people start their self-directed IRAs. With a regular IRA, you can only invest in stocks, mutual funds, bonds, and CDs. But with self-directed IRA services, you get to invest in a wide range of options that go beyond the typical stock market. Keep reading this blog to know how you can diversify your investment with SDIRA. Prevent stock market crisis by diversifying with SDIRA If you keep your funds in the regular IRA, then the fate of the stock market decides whether your money increases or decreases. The stock market is unpredictable, and unfortunately, if the market crashes at the time…
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6 Common Myths About Personal Loan Busted: What’s True And What’s Not
Personal loans are the saviours during an immediate financial crisis. As personal loans require minimal documentation, these loans address applicants’ financial problems in a jiffy. Despite its immense popularity, several misconceptions blur the benefits of this loan. In this comprehensive draft, let us have a glance into personal loans and bust the myths around them. Personal loans: A glance Regardless of the extent of need, personal loans help the applicant to navigate through financial needs. The lender criteria and interest rates offered for personal loans vary from one lender to another. Applicants can choose a lender convergent to their needs using a personal loan interest rate calculator. Lenders such as…
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Planning to Buy a New House in Hyderabad? Keep This Checklist to Get a Home Loan
Hyderabad, the capital of Andhra Pradesh and the largest city in Telangana, is one of the major metropolitan hubs in the Deccan region. With a bustling economy of almost Rs. 5,315 Crore, Hyderabad offers one of the most diverse employment sectors in the region, housing almost 9.7 million people in total. Unsurprisingly, the real estate market of Hyderabad has grown steadily over the last decade to keep up with the growing demand, clocking almost 10% rise in property acquisition between 2018 and 2019. The housing sector in Hyderabad A vast majority of the residents of Hyderabad lives in urbanised areas. Skyscrapers and pre-fabricated residents account for 52% of the total…
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MINI-RETIREMENT: IS IT EASY TO TAKE OR NEEDS SOMBRE PLANNING?
Mini-retirement can be an enjoyable moment but sturdy at the same time too. You should know about it in details before making a decision. Read this blog to know about this retirement.
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CRAFT START-UP: THE BEST WAY TO TWIRL ‘CRAFT HOBBY’ INTO BUSINESS
Finding a new idea is more challenging than running an established business. If you are searching for the distinctive business plan, and good at craft making, then Craft Start-Up can give you what you are looking for always. Let’s understand more about this industry. According to the data of DCMS, more than 100,000 people are working in the craft industry. Among these, roughly 95000 are working in the craft outside the creative industries. The craft industry is divided into several parts, such as: Craft-industry micro business Craft industry in ‘other’ creative industries Craft occupation in Non-Creative industries Other creative industries include works, like: Specialised design activities Advertising agencies Artistic creation Craft occupation in…
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How To Calculate Interest Rate When I Want Invest Into Fixed Deposit?
A Fixed Deposit (FD) is a tax saving investment tool with guaranteed returns. Since it involves a lump sum amount for a deposit, every investor should check the yields, interest rates, and credibility of the bank or financial platform before investing. What are the benefits of investing in a Fixed deposit account or FD? A viable investment with guaranteed returns Unlike other investments like equity or shares, FD is secure, risk-free, and not market susceptible. Under section 80 C of the Income-tax Act, investors can claim a tax deduction up to Rs 1.5 Lakhs from fixed deposits in a fiscal year Many banking platforms also grant loans against fixed deposits.…
