Importance of Payroll During Exigent Circumstances

Importance of Payroll During Exigent Circumstances Sometimes, no amount of planning can prepare you for handling an unforeseen circumstance as disruptive as a global pandemic. The Covid-19 outbreak has avalanched its way into the business world, leaving not a single industry or company untouched. Wherever possible, work has gone remote. [...]

April 7th, 2020|Categories: HR Outsourcing Solutions|Tags: , , |

Our Formula for Impactful Debt Collection

Our Formula for Impactful Debt Collection In trying times, when the entire world is reeling under the impact of a pandemic and resultant financial stress, unpaid dues can become doubly worrying as the possibility of default increases. However, these are the precise moments when certainty of recovery becomes essential to [...]

April 6th, 2020|Categories: Collections|Tags: , , |

Success Story: Redesigned Customer Experiences for Retail Forex Trading Company

Success Story: Redesigned Customer Experiences for Retail Forex Trading Company Allsec has implemented a robust approach to compliance for this client with operations in 6 different countries. Through a combination of knowledge building, analytics-driven decision making, and process improvements, we have delivered a significant reduction in operating costs (~73% of [...]

Giving Your Global Workforce A Unique Experience

Payroll Essentials of a Truly Global Work Experience When it comes to business and professional opportunities, geographical barriers are steadily dissolving. According to a 2019 KPMG GAPP Report, 60% of participants surveyed stated that international assignments are an important part of their talent management strategies. This creates new requirements in [...]

Combating the Strategic Risks of E-Commerce Fraud

As the world has become increasingly digital, and the ease of e-commerce’s click-and-deliver model has transformed consumer behaviour, online fraud has also seen a spike in lockstep. E-commerce frauds have been increasing steadily every year since 1993, according to reports from Nilson, and fraudsters are only getting more sophisticated [...]

March 9th, 2020|Categories: Collections|Tags: , , |

Zooming into the Essentials of Leave Management

Imagine this: a company has a new manager for a team, comprised of five employees, dealing with an important client. In the last leg of the assignment, one team member is due to go on paternity leave. Simultaneously, another member puts in their request for their yearly mandatory vacation. The [...]

How a rapidly growing fast food chain in India tackles Payroll & HRMS

How a rapidly growing fast food chain in India tackles Payroll & HRMSFast food has gained a significant following in India. With the segment growing at a rate of 18% CAGR, it has also led to the rise of ‘fast employment’. Due to varying pay structures, geographic distances, and high [...]

February 12th, 2020|Categories: Case Studies|Tags: , , , |

The Two Prongs of a Sound Debt Collection Strategy

No matter what the nature of business, if it involves extending a line of credit, then bad debt is an outcome one must be prepared for. A study from Atradius in 2016 about payment practices revealed that 48% of customers delay payments. Although delayed payments can hold up business, it [...]

How Payroll Can be a Time and Cost Saving Function

Whether an organization is small or large, processing payroll is one of the most important tasks. Errors and delay in payments can lead not just to disgruntled employees, but can also attract legal penalties due to overlooked regulations. The IRS estimates that 40% of small and medium business owners end [...]

January 7th, 2020|Categories: HR Outsourcing Solutions|Tags: , , |

Getting Customer Service Spot on During the Holiday Rush

The first and last months of every year is packed with festivity and joy. For people, the holiday season is all about down time, binge-watching, binge-eating and impulsive shopping, which translates to increased business opportunities. The holidays can be a crucial period for businesses - holiday shopping means an increase [...]

December 26th, 2019|Categories: Customer Experience Management|Tags: , |

Five FAQs About First Party Collections You Should Be Asking Too

Handling collections for a business can be tricky. Slow payments and delinquency are challenging, especially in today’s dynamic environment where timing is everything. Having a specialized in-house collections operation is one way to go, but it can be time-consuming, laborious, and expensive. The alternative is to look outside to agencies [...]

How to Empower Customers and Improve Bill Collections

The payment experience for customers is in desperate need of an overhaul. Despite technological advancements and availability of third-party customer service outsourcing opportunities, billing and collection systems are still rudimentary at best. Especially when it comes to the healthcare industry, where patients are taking on more financial responsibility for treatment, [...]

Beyond Open Banking: The X Factor in Consumer Experience

When you walk into a bank’s physical branch, how many millennials can you seen swarming the counters? Probably none. Gen Y is also becoming an endangered species in traditional financial outlets. These tech-savvy customers tend to gravitate towards mobile and phone applications for most of their banking needs. So, it [...]

December 4th, 2019|Categories: Customer Experience Management|Tags: , , , , |

Payroll Compliance 101: How to Tackle a Scorecard in the Red

Historically, payroll has been considered a low-risk organizational function due to its simple objective – compensating workers promptly. With time, evolving labour laws have increased complexity, and payroll compliance has become a key area of concern for many organizations. Globally, payroll taxes are one of the largest sources of [...]

Why Every Company Needs Digitized Payroll and Compliance Systems

Picture this: it is the end of the month and your employees are expecting payment. It is also the time when payroll compliance audits are due. For years now, you have depended on a trusted employee to take care of your company’s payroll processing manually, while also ensuring statutory compliance. [...]

Debt collection trends to watch out for in 2020

Debt collection is one of the oldest-standing practices in the world, considered older than the history of money itself. It existed during the barter system, going as far back as 3000 BC. In those days, if debtors could not pay back their borrowings, they would have to work as slaves [...]

Why the Healthcare Industry Needs a Patient-Centric Collection Strategy

Let’s suppose a person wants to buy a car. They can go online, research the various models available within budget, visit a showroom, test-drive the vehicle and make a decision. They are also walked through the various payment options available to them, including EMIs and loans.   However, when it comes [...]

Catching friendly frauds where they happen

When someone says internet fraud, the immediate image that may come to mind is that of sophisticated criminals, adept at identity theft and online hacking. Yet, there is another seemingly simple, duplicitous act that costs businesses billions: chargeback frauds.  Also called friendly frauds, this particular technique is when a customer [...]

Top Tips for Startups Who Want to Nail Payroll Management

Mark Twain once famously said, “The secret to getting ahead is getting started.” New ventures might think that they have already crossed this bridge. But a startup is more than just implementing a fresh idea. It involves tying together multiple elements, like an efficient human resource department or a payroll [...]

When Customer Service Becomes A Disservice

Picture this: a person visits a car showroom with the intention of making a purchase. A sales representative approaches her/him and offers to help. After exchanging pleasantries, he goes on to give the customer a complete tour of the facility, insists on introducing his colleagues, and engages in conversation for [...]

Is the clock running out on your collection strategy?

Alternative payment methods such as mobile wallets, and UPI are gaining popularity as we inch towards a digital India. Nevertheless, credit card payments see a robust growth, at 25%. In 2018-19, consumers spent 30% more using their credit cards than they did the previous year. With growing credit card payments, [...]

Transparency in the Age of Retail Forex Trading

Foreign exchange is not a new-age phenomenon. Currency trading goes as far back as the first century C.E. The role of shulhani or exchange bankers has been outlined in the Babylonian Talmud, the Jewish sacred text. Pilgrims from far-off countries would bring large amounts of foreign coinage that money changers [...]

Three Ways to Keep Customer Service Agents on Their A-Game

“It is not the employer who pays the wages. Employers only handle the money. It is the customer who pays the wages,” Henry Ford once said. There is no doubt that customer service makes or breaks a company’s performance. In fact, businesses lost more than $75 billion a year due [...]

How to Tackle Multi-Country Payroll Complexities Like a Boss

The Coca-Cola Company, the American multinational that is a household name, has 62,600 employees in over 200 countries across the world. Home-bred Infosys Ltd., has operations in 46 countries.  The truly globalized nature of trade today means that a number of businesses operate in multiple locations. This makes for a [...]

Implication of Financial Compliance on Instant Payments

Today’s world is modelled on the principle of instant gratification. Communication is immediate, cabs arrive in the blink of an eye, and food deliveries are promised in under 30 minutes. The payments industry has evolved to capitalize on this trend. But what is the direct impact of financial compliance on [...]

August 20th, 2019|Categories: AML Solutions|Tags: , , , , , , , , |

How AI Can Improve Payroll Claims Management and Reduce Fraud

Most companies have payroll management systems that allow employees to claim reimbursements for office related expenses. This may include taxi receipts, lunch bills as part of client entertainment, or business travel expenses.  Sometimes, employees make fraudulent claims that can weigh heavily on a company’s bottom line. Take for instance, the [...]

G20 Highlights on Crypto Regulation and AML Compliance

At the 2019 G20 Summit held in Japan this year, finance ministers and central bank governors of 19 countries and the EU discussed the global impact of crypto assets. Leaders agreed that tech innovations involving cryptocurrencies could be beneficial for the financial ecosystem. However, there would have to be strict [...]

August 9th, 2019|Categories: AML Solutions|Tags: , , , , , , , |

The Go-To Checklist for Transforming Customer Experience

Every customer has one brand that they are loyal to and would recommend widely. Something about the brand sticks. Most often, it is not just the quality or price of a product but the experience as a whole that is a key differentiator.  A great customer experience focuses on all [...]

Fighting E-commerce Fraud with Technology

In May 2017, Amazon lost INR 69.91 lakh to e-commerce fraud in Bengaluru, and Flipkart was cheated off of INR 1.05 Crore in Kota. These frauds happen across three categories: buyer side, merchant side, and security system side. The methods are ingenuous and cover a broad range including chargebacks, selling [...]

How Customer Experience is Driving Financial Industry Growth

Market volatility is a constant in the financial industry, with new entrants and disruptors forcing institutions to adapt in order to stay relevant. Additionally, the rapid growth of financial crimes means FIs are focused on reducing their exposure to risky assets more than ever before. In such a situation, severing [...]

Here’s Why You Should Get an AI-Driven Employee Self-Service

Artificial intelligence has transformed business, especially the way in which customers interact with the company. Its long-tendrilled knowledge base, enhanced in part by machine and deep learning, enables streamlined customer self-service.  Much like customers, a number of employee queries are also routine in nature, most often centering around organizational policies. [...]

Going Digital is not the Ultimate Customer Support Strategy

We live in a time when the global consumer population is divided in its digital expertise. One segment hails from the pre-digital era, when all after-sales problems were tackled face-to-face. The other, born into the current generation of technological advancement, is perfectly comfortable conversing with an AI chatbot. The third, [...]

Catching up to a Dynamic AML Regulatory Environment

As regulatory frameworks evolve rapidly in stride with the growing volume of global transactions, it is imperative that FIs build sustainable AML programs to step up to the challenge of AML compliance.  According to a report by PwC, 19% of companies struggle to find competent AML staff, while an equal [...]

How Facebook’s Cryptocurrency Will Affect the Financial Industry

Facebook is the quintessential tech disruptor – from rehauling the idea of networking, to revolutionising digital advertising, and even changing how people consume news. It is now foraying into FinTech, with the launch of its cryptocurrency, Libra.  Banking and Currency Alternative The audacious attempt to initiate a global digital currency [...]

July 16th, 2019|Categories: AML Solutions|Tags: , , , , |

When to Seriously Consider Outsourced HR Services

At some point or another, every company finds itself struggling with personnel management. New legislations, evolving paid leave laws, hiring shortages, and changing benefits for workers, are just a few things that can stretch an in-house HR team thin.  Considering outsourced HR services can help strike the balance between cost [...]

July 12th, 2019|Categories: HR Outsourcing Solutions|Tags: , , , |

The Two-Way Street of Banking and FinTech Partnerships

A few years ago, FinTech firms like PayPal and PayTM were giving banks the chills. Industry experts believed that FinTech startups would disrupt the traditional banking system.  The zeitgeist has evolved; pundits now foresee a symbiotic partnership between these two players. In a global FinTech report published in 2017, PwC [...]

July 10th, 2019|Categories: AML Solutions|Tags: , , , , , |

Dismantling Silos for Stronger SaaS Support

Imagine yourself at a restaurant. You’ve heard rave reviews about the food and the chef, so you can’t wait to try it out. But during dinner, you find that the staff is slow to come around, orders are late, service is sloppy, and the meal, though scrumptious, is cold. This [...]

The Influence of Greed and Profitability on Lawful Compliance

Profit maximization is a key driver of modern business organizations. If a corporation cannot make the investment valuable for its owners who risked their money funding its operations, it might as well not exist. Yet, churning profit involves taking risks: the higher the gain, the greater the gamble. And sometimes, [...]

The Key to Simplifying Payroll Tax

Payroll management is perhaps one of the most critical functions for the HR department. But accurate payroll processing is also an essential metric for business augmentation, allowing organizations to optimize spend on compensation and taxes, while ensuring legislative compliance. One of the biggest challenges is keeping up with dynamic payroll [...]

June 27th, 2019|Categories: HR Outsourcing Solutions|Tags: , , , , |

How to Kickstart Payroll at a Startup

Managing a young business can be an arduous process, whether it’s your own or someone else’s. You’re learning by the day, that there isn’t really a guidebook to help you fix goof-ups quickly, and you’re relying on generic tools to get you by. In the midst of all this, you’re [...]

Is Multi-Process HR Outsourcing Replacing Single-Process Outsourcing?

Since the time of the dotcom boom to the present day, the idea of optimal human resource outsourcing has gone back and forth — innovating, adapting, and streamlining to fit the needs of the industry. HR providers have gone from providing single, specialized services like recruitment process or payroll services, [...]

Top Customer Experience Trends to Get on Board With

Customer engagement today looks very different from what it did even a decade ago. In-person interactions have been replaced with virtual connections: more customers have their FAQs answered by chatbots than by people, major purchases are made through online platforms or even social media accounts rather than brick-and-mortar stores. This [...]

People analytics will assume the driver’s seat in HR

The advent of big data has paved the path for transformational policies in the largest balance sheet asset for most companies - human resources. People analytics has been THE talk at HR tables for a while now. What began as a small troop of technical experts, meant to scout specialized [...]

Reorienting Processes for a Digitally-Immersive Customer Experience

The average millennial looks at her/his smartphone about 150 times a day, according to a Qualtrics and Accel survey. With the bulk of attention spans diverted to mobile devices, a successful business in today’s day and age, needs to have a virtual persona to capture and retain consumer interest. This [...]

Regulatory Sandbox: A Game changer in the Indian Fintech Industry

Fintech has been at the forefront of innovation in recent times, one that has disrupted the financial services industry. Yet, consolidation and strict regulatory norms often pose a hindrance to growth. Regulatory sandboxes, that act as a testing ground for new technologies with little to no regulations, have been poised [...]

Providing the Checks and Balances for AML Compliance

Anti-money laundering is a burgeoning concern for organizations across the world. As access to international markets widen, so do opportunities to launder money. AML compliance is fast becoming a focal point for financial businesses, and more organizations are seeking external aid. Implementing a strong AML compliance system requires a comprehensive [...]

May 29th, 2019|Categories: AML Solutions|

Adapting Payroll Systems to a Millennial Workplace

The time of the millennials is here. Gen Y dominates the workforce of most organizations. At least, that’s what Deloitte’s Millennial Survey says - by 2025, they will comprise 75% of global personnel.(1) This young generation of workers is unlike any before - they shirk rigid corporate structures, demand flexibility, [...]

What You Should Know About the California Consumer Privacy Act

Following last year’s Cambridge Analytica and Facebook data scandal, privacy has become a key issue on both sides of the aisle. With businesses collecting and processing data every second of the day, consumers are rarely sure of what amount of personal information they disclose is being stored and used as [...]

How Payroll needs to change with GDPR

The 2018 General Data Protection Regulation seeks to standardize, control, and protect the personal data of EU residents in and outside Europe. Indian companies that handle data of EU residents are affected by this regulation and need to institute frameworks for data protection in order to stay compliant with GDPR. [...]

Tech support in the fluid world of IoT

Suppose an app on your smartphone unlocks the security system of your apartment upon your arrival. And the security device then connects with the AC to set the temperature as per your preset preferences. But, when the device fails to trigger the AC, how do you go about identifying the [...]

Bridging the gap between Social Media and Fintech with Compliance

Last month, Instagram announced its entry into financial services with plans for a “checkout” feature on the app. However, it’s not the first social media platform to foray into Fintech. Others like Facebook and Snapchat already offer money transfer options. With this development, social media platforms morph into one stop [...]

April 23rd, 2019|Categories: AML Solutions|Tags: , , , , , |

Omnichannel is more than many channels

You may have got it all: IVR, chatbots, SLAs, and automated workflows to manage your support tickets. But there is more to an omnichannel support strategy than merely opening up myriad channels to customers Build around the customer’s journey Find out customer pain points and the channel best suited for [...]

Why automate employee onboarding and training?

The postmodern workplace is in an eternal state of flux, much like the technology, and the economy that shape it. And the majority of the workforce in this milieu are millennials, who also embody the same attributes. As this millennial workplace grows, acquiring new values and visions, retaining employees and [...]

Building a culture of compliance

There is a global trend in the financial industry today, to tackle compliance through a focus on ethical behaviour and culture. A good compliance attitude can help identify issues early and set standards for the future. What does it take to instill a culture of compliance in your organization? Successfully [...]

Developing the tools to successfully navigate support queries

Research shows that 82% of customers drop a brand because of bad customer experience. Also, while happy customers, on average, tell nine people about your product/service, an unhappy customer tells 16 people! So, in the midst of fierce free market competition, how do you retain customers by ensuring a good [...]

Self-service Vs. on-demand support

Self-service or on-demand support?  What would you choose for your product /service support? According to this HBR article, 81% of customers across industries attempt to solve problems themselves before reaching out to a customer service representative. But, you guessed right. Of course, it is not a question of one versus [...]

Getting your organization’s payroll right

The present digital and data landscape opens plenty of doors for compounding the value delivered and derived across various business functions within an organization. AI, machine learning, and big data, have taken the world by storm, and HR and Payroll services are no exception to this. A strategic shift When [...]

Incorporating Anti-corruption into your Compliance Program

Incorporating Anti-corruption into your Compliance Program From diamantaire Nirav Modi’s $1.8 billion fraud against India’s second largest public sector lender PNB, to the pen and pencil manufacturer Rotomac’s swindling of Rs 800 crore loans from state-owned banks, India has its fair share of corruption and financial fraud. According to Transparency [...]

Building a culture of learning with Microlearning

You may not remember this in 30 days.   According to Hermann Ebbinghaus, the German psychologist who came up with “the forgetting curve”, we forget 80% of what we learn in 30 days. The backdrop Hermann Ebbinghaus’s forgetting curve indicates that reviews or reinforcements are essential to internalize and retain [...]

The many faces of money laundering today

The many faces of money laundering today The financial crime landscape is nuanced, with twists and turns. The growing gig economy adds its own layer of complexities to this cliff hanger, creating hitherto unimagined opportunities for criminals to launder money.   The gig economy’s agile ecosystem with shorter work contracts [...]

Can blockchain transform healthcare?

If you have ever availed a healthcare service of any kind, you know that you are not the owner of your personal health data. Your health record is often, if not all the time, generated, accessed, updated, shared, and maintained by a number of healthcare providers and payers including hospitals, [...]

Chatbots in the new workplace

There are many debates surrounding chatbots. Are chatbots killing customer service? Can they really solve complex contextual problems? Can you train a bot towards the kind of emotional intelligence that is required to provide mental health counseling? Our questions persist. Yet, from reciting poetry to supporting disabled people, there is [...]

Beyond De-risking

Beyond De-risking Nearly half the world’s financial institutions have been victim to at least one financial crime in the last one year, according to this report by Refinitiv. This fallible financial climate calls for FIs to be risk intelligent. There are hefty costs to avoiding risks. Reacting, or rather, overreacting [...]

HL7- Shared Meanings in Healthcare

HL7- Shared Meanings in Healthcare HL7 standards and frameworks facilitate exchange of healthcare data through the use of controlled vocabularies. While these standards tackle the problem of healthcare communication, they pose significant challenges for healthcare providers and their software vendors in terms of implementation and reconfiguration. Healthcare providers use systems [...]

Why are BTMs on the rise as bitcoin slumps?

Why are BTMs on the rise as bitcoin slumps? Through much of the last year, crypto assets lost over 50% of their value, dropping to $8000 from $17400. At the end of 2018, cryptocurrency prices saw a further dip to 3000$. This market downturn in digital asset values created waves [...]

February 22nd, 2019|Categories: AML Solutions|Tags: , , , , , , , , |

The Real Cost of Payroll Mistakes

The Real Cost of Payroll Mistakes Payroll mistakes cost employers billions of dollars annually. According to the IRS, 33% of businesses deal with payroll errors. There are many cautionary tales about the larger impacts of even minor slips in payroll. For instance, a Texas company failed to pay employee overtime [...]

Disruptions in healthcare due to PAMA

The US healthcare industry is governed by stringent, ever evolving regulations and the onus is on healthcare providers to balance compliance and care. With the recent updates to PAMA - the Protecting Access to Medicare Act 2019 - the industry, which is already dealing with rising costs, faces greater challenges. [...]

Risk and compliance tools for the new tech and regulatory environment

Risk and compliance tools for the new tech and regulatory environment Trade based money laundering has become more sophisticated with rapid improvements in technology and increasingly professional money launderers. These proliferating tech/digital interfaces have made a large amount of information available in the public domain. By leveraging this information effectively, [...]

Intelligent segmentation for KYC

Intelligent segmentation for KYC The proliferation of decentralized fintech solutions such as digital wallets and crypto-projects have created a myriad of channels across which people transact on a day-to-day basis, making it hard to monitor customer behaviour, and construct anticipated activity profiles for AML compliance. In such rapidly changing tides [...]

How to choose the right technology for your AML program

How to choose the right technology for your AML program Regulators continue to tighten compliance requirements and FIs are responding to this predicament in all manner of ways. But financial fraud remains widely prevalent, thwarting equity, freedom and rule of law across the world. Between 2017 and 2018, fraud was [...]

February 4th, 2019|Categories: AML Solutions|Tags: , , |

Automating Lab Requisitions

Automating Lab Requisitions A 2016 study on paper based laboratory request forms revealed that around 54.8% of paper based lab requisitions were unclear. Moving to an electronic based lab requisition process can create huge benefits for healthcare providers through efficient data capture, management and reporting. Technology plugs the gaps Healthcare [...]

Are BTMs safe?

Bitcoin trading was originally conducted face to face, with buyers carrying wads of cash to coffee shops, city centers and other public spots to meet sellers, barter, and then swap using QR codes on mobile phones or laptops - an activity that was fraught with risks and danger. Besides Bitcoin [...]

Gender parity in workforce

The gender gap Global gender gap has closed by only 4% in the last 10 years, according to the World Economic Forum. In a research partnership with LinkedIn, WEF examined workforce gender ratio in entry level, middle management and senior leadership positions across sectors. Unsurprisingly, the research uncovered that although [...]

Implementing CDD in light of the 50% OFAC rule

In today’s increasingly digital world, financial institutions are forced to understand the complex and shifting corporate ownership structures of partners and customers in order to protect their assets. FinCEN reports that banks spent around $250 million on compliance efforts alone in the first year of implementation of the 2016 CDD [...]

How does project transition really work? A break down.

How does project transition really work? A break down. Project transition is a liminal phase in which unexplored nuances and unchecked assumptions come to light causing friction or in some cases, process overhauls. A successful BPO transition involves planning, preparing and accounting for all elements of transition from process, people, [...]

The role of analytics in identifying illicit business activities

When people say, “It’s a numbers game!”, you hardly ever think that they’re talking about anti-money laundering. While everything about tackling money laundering is tied to a number (account numbers, transaction amounts, etc.), banks have thus far been reactive, tightening up systems and checks, post facto. Consequently, on failing to [...]

December 14th, 2018|Categories: AML Solutions|Tags: , , , , |

Beyond Outsourcing: Syndication

We know that businesses, small and big, stand to gain from outsourcing functions such as payroll, as this enables focus on core deliverables and other strategic functions. However, as our physical and digital worlds continue to blend together, we evolve towards finer, more fluid ways of conducting business. At the [...]

Gaming the system

The evolution. I would encourage you to make sure that the business side of your casinos takes AML controls just as seriously as it treats its high-rollers. - Jennifer Shasky Calvery, FinCEN Director, making comments at the BSA Conference in Las Vegas on June 12, 2014 The modern casino has [...]

December 6th, 2018|Categories: AML Solutions|Tags: , , , , |

Automation to revitalize healthcare

Success is where preparation and opportunity meet The key to survival and success in any industry is to be able to predict and prepare for the future. The Healthcare Industry is no exception to this rule and will in fact be the epicentre of a ‘Demographic Earthquake’, experiencing a major [...]

Re-engineering payroll in the face of compliance

Nowadays, most payroll processes run like clockwork, irrespective of how complex or intricate they may be. However, the real question - the one that matters, is whether the system is optimized for efficiency and and razor-sharp focus, or is there an evident need for Process Re-engineering in order to adapt [...]

Let’s Chat – NASSCOM Research Report

The Indian Chatbot market has taken a huge turn from where it was just a few years ago. According to the report, many off-the-shelf chatbots lack contextual awareness, but the overall performance is expected to evolve to provide end-to-end workflow orchestration and resolution. With solutions addressing pain points across industries, [...]


Conservative estimates put the percentage of illicit transactions, that are stopped, at 1%. Though regulatory authorities have levied heavy fines on global banking conglomerates, there is still a lot that slips through the cracks - estimated at 5% of global GDP. On the other hand, AML processes already consume a [...]

October 10th, 2018|Categories: AML Solutions|Tags: , , , , , , |

A brief understanding and discussion of financial crimes

Economically motivated crimes break the very fabric of business and society. The consequence of these crimes are not just financial losses, but also a significant decline of morale, reputation and stability of nations, organizations, and individuals. Money laundering extends beyond organised criminal groups, and occurs at various levels, across industries, [...]

October 8th, 2018|Categories: AML Solutions|Tags: , , , , |

INFOGRAPHIC: Cost Benefits of Outsourcing Medical Billing Services

With the right healthcare outsourcing solution, providers can convert a partially electronic system into a 100% ERA system. Eliminating manual processes minimizes staffing costs and the need to purchase more office equipment. All around savings also stem from the fact that providers don't have to train their staff, while outsourcing [...]

Digitally Yours – The Customer Experience Quotient

There’s a lot of talk about companies going digital and the overarching benefits. In this series we delve deeper into what it means to individual functions. Digital transformation, at its core, is the response to a combination of pain points. Our first part of the series discusses key strategies in [...]

Digital Diagnosis

Information is currency in the healthcare industry and despite the diversity of services offered, all providers are alike in their need to manage the data that drives their processes; usually using anything from spreadsheets to comprehensive informatics tools. The fee-for-service form of reimbursement is taking a hit as the industry [...]

August 31st, 2018|Categories: Healthcare for Payors, Healthcare for Providers|Tags: , |

Electronic RCM: The how, why and wow!

A common challenge faced by healthcare providers is capturing data from the Explanation of Benefits (EOBs), extracting this information and sending it across to other departments such as core accounting and other management systems. While this sounds easy, most service providers process 5000 or more EOBs every day, manually! It’s [...]

August 31st, 2018|Categories: Healthcare for Payors, Healthcare for Providers|Tags: , , , |

HCM over traditional HR: Why?

HCM Over Traditional HR: Why? Human capital management (HCM) is a comprehensive system for the optimization of resources in an organization. Spread across workforce acquisition, management, and development, it views employees as investments and aims at maximizing business value through efficient resource allocation. Most HCM systems are now [...]

August 14th, 2018|Categories: HR Outsourcing Solutions|Tags: , , , , |

Automated KYC in a blockchain environment as a concept

Automated KYC in a blockchain environment as a concept Know Your Customer (KYC) is a big part of any AML effort. Information such as name, social security number, birthday, and addresses can be very useful when determining whether or not an individual is involved in a financial crime. At present, institutions [...]

May 31st, 2018|Categories: AML Solutions|Tags: , , |

KYC for Digital Wallets

KYC for Digital Wallets Digital wallets have been on the Indian market for almost a decade. With the widespread use of smartphones and better, cheaper internet connectivity, an increasing number of citizens have taken to platforms such as Paytm, Mobikwik and more. The allure with digital wallets so far lies [...]

May 31st, 2018|Categories: AML Solutions|Tags: , , , |

The global effect of data security compliance

The global effect of data security compliance In a global environment, it’s tough to gauge the immediate and far-reaching effects of something as basic as a data security regulation. However, with the EUs General Data Protection Regulation passed in 2016, they have made it clear that private data belongs solely [...]

May 31st, 2018|Categories: Business Process Outsourcing|Tags: , , |

The language at the center of technology

The language at the center of technology Since the Internet was designed in 1974, the world has recorded time in terms of the next big advancement or upgrade. Hardware has developed exponentially while software has skyrocketed. Futuristic gadgets such as self driving cars and Google glasses have consistently proven that [...]

May 31st, 2018|Categories: Business Process Outsourcing|Tags: , , |

Virtual Assistants: Beyond Call Handling

Virtual Assistants: Beyond Call Handling Outsourcing is a proven method to improve your operations’ efficiency and effectiveness. However, it’s not about having a team of individuals in a far off country handling business processes. As communications tools have flourished, the world has grown smaller, and transformed the way we conduct [...]

Digital security in a crypto-world

Digital security in a crypto-world News broke just yesterday of a large scale theft of newly minted cryptocurrency, bitcoin gold. The value of the anonymous heist has been placed at over $3.3 million. A website was created to trap unsuspecting users by piggybacking off the official bitcoin gold site. This [...]

May 31st, 2018|Categories: AML Solutions|Tags: , , , , |

HR Technology Can Streamline Your Practices

HR Technology Can Streamline Your Practices The global workforce has evolved from what it was a few decades ago to where it stands today. There’s diversity in nationality, race, gender and culture. Most organizations have welcomed the change with open arms, making their employees feel welcome. Unfortunately, HR ‘best practices’ [...]

May 31st, 2018|Categories: HR Outsourcing Solutions|Tags: , , , |

From Dumb Database to Intelligent Decision Support System

From Dumb Database to Intelligent Decision Support System HR systems were historically just databases that stored employee information. What started off as punch cards moved to the digital space through basic software solutions, and then to more sophisticated payroll engines. With more technological advancements, these grew into the full fledged [...]

May 31st, 2018|Categories: HR Outsourcing Solutions|Tags: , , , , , |

The Need For Customer Support in the Age of Information

The Need For Customer Support in the Age of Information In the digital age, when even those from Gen X “ask Google”, the question of customer support is a unique one. Companies that sell products release comprehensive user guides and instruction manuals along with the product. Almost every website features [...]

The EU’s Fourth Directive has Opened Pandora’s Box

The EU's Fourth Directive has Opened Pandora's Box Overall AML compliance costs have increased by 21% over the last two years alone, and financial institutions expect as much of an increase within the next year. Now, financial service providers have costs running up to $83.5 billion! The fourth directive More [...]

May 31st, 2018|Categories: AML Solutions|Tags: , , , , , , , |

Trends in Corporate Learning and Development

Trends in Corporate Learning and Development One of the leading metrics of employee satisfaction, is learning and development. Employees consider their workplace as a continuation of their education, but there’s a catch. They want to learn only as much as they want to, when they want to. On an average, [...]

Outsourcing Front Office and Back Office Functions

Outsourcing Front Office and Back Office Functions Outsourcing is so common that it’s no longer a phenomenon - it’s part of a successful business model. However, the cost benefits alone shouldn’t make outsourcing an exciting prospect for enterprises. Choosing the right functions to outsource is an integral exercise that can [...]

How financial secrecy has left the US wide open to kleptocrats

How financial secrecy has left the US wide open to kleptocrats Financial secrecy, or the practice of maintaining anonymity of account ownership, is one of the main reasons Switzerland and the Cayman Islands were attractive options to criminal groups. But there’s a looming cloud over the US, and now some [...]

May 31st, 2018|Categories: AML Solutions|Tags: , , , , , |

The Executive Order That Will Define Your Employees’ Healthcare

The Executive Order That Will Define Your Employees' Healthcare The presidential executive order signed on the 18th of October, 2017 is a swift and sudden move that many were not expecting. Although talk of legislation has not ceased since the elections, the healthcare industry expected a lull since the Senate [...]

Cybercrime, Digital Security and AML

Cybercrime, Digital Security and AML Cybercrime knows no bounds. With the potential to affect every user on the internet, there is an increased urgency to create the perfect bubble that will keep out malicious hackers and temperamental hacktivists. While the focus remains on phishing and identity theft, money launderers are [...]

May 31st, 2018|Categories: AML Solutions|Tags: , , , , |

Benefits Management During Open Enrollment

Benefits Management During Open Enrollment Employers like to believe they recruit the best talent and nurture them well. While training and development programs can go a long way in boosting employee engagement and retention, numerous surveys indicate that every employee’s point of concern is benefits. Who offers the bigger piece [...]

RegTech: Beyond Compliance

RegTech: Beyond Compliance RegTech is taking the financial industry by storm. With innovative software solutions promising to drive down the cost of AML compliance and standardize efforts, organizations are steadily adopting more RegTech. However, the applications and benefits of financial software extend far beyond compliance. While the concept isn’t new, [...]

May 30th, 2018|Categories: AML Solutions|Tags: , , , |

The top money laundering cases in recent times

The top money laundering cases in recent times Money laundering has been a go to for countless criminals since taxes were first levied. Whether it was hiding high valued items in sacks of grain, or as in more recent cases, routing illegal transactions through hastily formed shell corporations. In this [...]

Robotic Process Automation in Accounts Payable Functions

Robotic Process Automation in Accounts Payable Functions Although Accounts Payable is a prime facet of Finance Operations in any business, it is one of the most resource intensive tasks and therefore a major cost center for your organization. With the rising presence of Robotic Process Automation in many other verticals, [...]

Make the best of workforce management and payroll

Make the best of workforce management and payroll Spreadsheets with all their functionalities and multitude of options are an outdated way of keeping tabs on all the tasks and deadlines in a project. Managers across every industry can attest to this fact. The strategic advantage of employing a workforce management [...]

How to get a jump on customer self-help support

How to get a jump on customer self-help support We live in the age of most diverse demographic when it comes to customer support. There are the Gen X, Baby Boomers, Millennials, Gen Y and Gen Z. With each demographic comes a different set of expectations. The model has a [...]