Money laundering is in the news all too often and, based on the pervasiveness of this charge, it is safe to say a lot more illicit cash is slipping under the radar of unwitting banks and regulators.
Determining the level of customer reliability with regard to the timely loan repayment is one of the key elements of credit risk assessment. This is done on the basis of a credit history analysis and scoring, based on the customer's characteristics.
It is based on attributing points to customer characteristics reflecting both quantitative (mainly financial data) and qualitative elements (e.g. marital status, education level, etc.). It applies both to individual customers and enterprises (especially in the micro and SME segments).
The mortgage lending process is considered to be one of the more complex credit processes offered to retail customers. Making decisions for such long-term liabilities for considerable amounts of money requires a thorough analysis of both customers and collaterals.
For years, if not centuries, trade products such as L/C have been functioning in a paper-based, meticulous, exhaustive process flows. Painstaking as it sounds, this is what has ensured risk-mitigation and financing all these years, boosting global trade…
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