Financial Transaction Processing Research Articles

Applying artificial intelligence and machine learning techniques in the internal audit environment: A simulation test of an improved algorithm for detection of fraudulent events in financial entity transaction processing operations

This paper describes a new approach to financial fraud detection that is informed by both artificial intelligence and machine learning. It proposes, then tests with a simulated database of transactions, a metaheuristic algorithm based on two-layer deep learning. Employing a simple adaptation to a basic deep learning model that applies a hybridized honey badger modification, demonstrably higher quality outcomes were obtained than with commonly used competing models.

EFEKTIVITAS SISTEM INFORMASI AKUNTANSI PENJUALAN (Studi Kasus: UMKM Penggilingan Biji Plastik Masrur Tangerang)

Accounting information systems manage various transaction data, both financial and non- financial, which influence the processing of financial transactions. Effectiveness is a benchmark that describes the extent to which goals are to be achieved. The purpose of this research is to determine the effectiveness of implementing an accounting information system implemented by the Masrur Tangerang Plastic Seed Milling UMKM. This is a qualitative research, and researchers collect data through observation, interviews, and documentation. The results of this research indicate that the sales accounting information system at the Masrur Iron Ore Milling UMKM has been running well and implemented very simply. This is because the system is implemented manually where document archiving is still not optimal and sales invoice documents have not been archived and are still being recorded in MS. Excel. Additionally, effectiveness The accounting information system, seen from an internal control perspective, has not been able to meet the owner's immediate needs. This can be seen from the research findings, which shows that the system used should involve technology by adding hardware components and software components and can also add network components such as WiFi or hotspots so that the resulting accounting information is free from the risk of errors and data backup can be carried out optimally.

Implementing auditor-general annual recommendations in South African municipalities: A situational analysis

IMPACT The authors explain why municipal capacity should be significantly improved for the successful implementation of audit recommendations by the Auditor-General of South Africa (AGSA). Municipalities need robust systems of financial delegation, oversight and internal controls. Such systems should make provision for record-keeping, financial risk assessments, processing and reconciling of financial transactions, regular, accurate, and complete financial and performance reports, as well as the reviewing and monitoring of compliance with applicable legislation. Audit action plans must be developed to outline key details. In addition, municipal councils should adopt a consequence management and accountability framework to enforce due diligence and compliance with council resolutions. Support mechanisms, such as disciplinary boards and municipal misconduct regulations, can add significant value in this regard. The lessons in this article have value beyond South Africa and particularly for senior local government officials, members of audit and risk committees, internal auditors, members of political oversight committees, and senior managers of national and provincial government overseeing municipal financial affairs.

Fintech: Its Effect on Business Sustainability

The term "financial technology" (Fintech) is used to describe the application of innovative ICTs to the financial sector, namely to the processing of financial transactions and the promotion of new financial goods and services. Payment processing is just one of the many financial services that can be facilitated by fintech. Other examples include stock trading, financial regulation, funding and forecasting, and wealth management. In this study, we focus on fintech's application as a means of payment. The ability of micro, small, and medium-sized enterprises (MSMEs) actors to modify their activities, especially in the non-cash payment system, will be essential in the face of current technological improvements. Because the long-term success of the MSME sector could be jeopardized if industry actors do not execute the necessary reforms. As a corollary, MSME players will almost certainly be unable to compete with more developed enterprises in terms of sales transactions.

Design and Implementation of a Responsive Web-based System for Controlling the Financial Budget of Universities

The management of the financial budget of universities is an extremely complex task due to having numerous different documents and calculation processes. In many developing regions and countries including the Kurdistan Region of Iraq, budget execution and accounting processes are manual. This had deleterious effects on the functioning of their expenditure and income management. This research represents the design and implementation of a responsive web-based system for controlling the financial budget of universities. This system can improve the recording and processing of financial transactions. Moreover, it traces all the stages of the transaction processing from budget releases, does auditing, and accounting of expenditures, incomes, deposits, and funds. Furthermore, it provides financial information on present and past performance. The system is a responsive web-based system, which adjusts the layout of the pages based on the screen size and orientation of the user's device. The system was implemented by using programming languages such as HTML, PHP, JavaScript, jQuery, AJAX, and MySQL. Finally, the provided system needed to be investigated from the performance point of view. Therefore, a questionnaire was used to determine the system’s usability by using the System Usability Scale (SUS) tool. The results revealed that a score of 86.250% of satisfaction has been achieved.

Dampak Sistem Pembayaran Non-Tunai Terhadap Permintaan Uang Kartal di Indonesia

The stability of the demand for money is important to maintain the value of therupiah. This stability is seen in terms of the amount of currency and the ability ofmoney to fulfill all transactions in a short time. The use of non-cash money canhelp speed up the processing of financial transactions, but on the one hand it canhave an impact on changes in the demand for currency, which in turn affects thestability of the money supply. For this reason, it is necessary to conduct researchon the impact of using non-cash money on the demand for currency in Indonesia.This study analyzes the impact of non-cash payments using cards (APMK) on thedemand for currency in Indonesia for the 2014-2017 period. The analytical toolsused in this study are Vector Autoregression (VAR) to determine causality,Impulse Response Function (IRF) and Variance Decomposition (VD). The resultsshowed that the increase in the use of card-based non-cash money had an impacton reducing the demand for money in Indonesia in the 2014-2017 period. Thenon-cash money shock has an impact on the shock of changes in the demand forcurrency.

Analysis of factors influencing blockchain implementation in finance sector in Sri Lanka

The global finance industry is highly impacted by fintech innovations and technology transformations due to rapidly evolving emerging technologies. Blockchain has become one of the key emerging technologies to bring promising results in the finance sector. These transformations and the use of decentralized ledger systems would contribute to significant changes in financial transaction processing and with the advent of distributed ledger technology and its ability to enforce better transparency, blockchain is becoming a disruptive force in the finance industry. This research investigated challenges in implementing blockchain solutions in the finance sector in Sri Lanka. The Interpretive Structural Modeling (ISM) based approach was used to investigate relationships between identified factors that influence blockchain solutions. According to the results of the study, the factors with higher driving power included lack of trust in new and immature technology, lack of regulations and governance, lack of standardization, cost of implementation, and interoperability issues with legacy systems. The results of the study emphasize the importance of regulatory bodies to develop new rules and regulations to support the technology transformation and blockchain vendors to provide better interoperability and standardization across platforms.

Graph Computing for Financial Crime and Fraud Detection: Trends, Challenges and Outlook

The rise of digital payments has caused consequential changes in the financial crime landscape. As a result, traditional fraud detection approaches such as rule-based systems have largely become ineffective. Artificial intelligence (AI) and machine learning solutions using graph computing principles have gained significant interest in recent years. Graph-based techniques provide unique solution opportunities for financial crime detection. However, implementing such solutions at industrial-scale in real-time financial transaction processing systems has brought numerous application challenges to light. In this paper, we discuss the implementation difficulties current and next-generation graph solutions face. Furthermore, financial crime and digital payments trends indicate emerging challenges in the continued effectiveness of the detection techniques. We analyze the threat landscape and argue that it provides key insights for developing graph-based solutions.

The Role of Financial Technology in The Creative Industries in Indonesia

In the modern era, the use of technology is growing rapidly to obtain information and various other electronic services, many people who already use technology, especially the internet to facilitate their work. Seeing the rapid development of the internet has given rise to various innovations, especially financial technology to meet the various needs of the community including access to financial services and transaction processing. Fintech (Financial Technology) is an innovation in the financial sector that refers to modern technology used to transact, check deposit rates, transfer funds, and perform various other financial services. The creative industries are an industry that utilizes the creativity and skills of individuals use as goods of value. The purpose of this study is to determine the role of financial technology and its constraints in the creative industry in Indonesia. The existence of innovation and creativity that arises in the community, making the creative industry is an essential role in the development of a regional economy. The research method used in writing this article is descriptive qualitative. Thus, qualitative research only describes responses to situations or events so that it does not explain causality or do hypothesis testing.

Streamlining Procedures for Board Consideration of The Fund’s Emergency Financing During Exceptional Circumstances Involving A Pandemic

The COVID-19 pandemic has inflicted an unprecedented shock on the global economy and created an enormous demand for Fund resources. To accelerate processing and approval of members’ requests in such circumstances, the paper proposes measures to expedite Board consideration and approval of requests for purchases and/or disbursements under the Rapid Financing Instrument and/or the Rapid Credit Facility, respectively, completion of reviews and requests for changes in access in existing arrangements, and requests for assistance under the Catastrophe Containment and Relief Trust (CCRT), by shortening the circulation period for Board documents. The paper also proposes extending the use of the shortened circulation period to selected Article IV consultations necessary for use of Fund resources during a global pandemic. Management will also streamline internal procedures to accelerate program processing and reduce the burden on the Fund’s administrative capacity, and will seek the support of creditors to expedite the processing of financial transactions under COVID-19 emergency financing.

SISTEM INFORMASI APLIKASI PENGELOLAAN TRANSAKSI KEUANGAN DAN PENDATAAN KONSUMEN PADA CV. PUPLAS

<em>The author conducted research on Cv. Puplas s, aims to know about financial management and data collection of consumers in Cv. Puplas. Transaction management and report creation that is still manual and do not have a database, so often the occurrence of errors in the processing of financial transactions. Likewise, when the consumer data processing and reporting process given to the leadership takes a long time and less efficient, because the data is still in the form of archives. To overcome this problem, the writer tries to design a system that can solve the problem. This research is done using field research method with direct observation and interview, then in Library Research for Literature study and laboratory research to design Information System using Web Programing CodeIgniter and SQLyog as database manager</em>

Riding the Waves of Technology: A Proposed Model for the Selection of Appropriate Computerized Accounting Software for Implementation in SMEs in Developing Countries

Currently, SMEs are looking for ways to select Computerised Accounting Software packages to better improve their business process capabilities, economies of scale and competitive edge over rivalry companies in the market. CAS is seen as the optimal preference as it is now a dominant, powerful and integrated software package embedded with all the modules needed to process and generate accounting information on a timely, high precision and error free manner for management decisions. However, choosing the appropriate CAS has become a critical problem for many SME entities in developing countries as the past and continuous selection of sub-optimal CAS application had brought mischance’s to SMEs leading to massive financial losses and arguably bankruptcies. Some critical and vital considerations such as vendor credentials, CAS selection and implementation financing option by the CAS vendor, Maintenance overheads, Functionality, Flexibility and Implementation are most often marginalised during the selection process which have negatively affected SMEs ability to select the best breeds of CAS among the proliferated software in the software market in Ghana. This study fills this gap by proposing an appropriate integrated buying framework leading to a mathematical model that may guide SMEs in their quest to selecting an optimal CAS package for implementation where the software market is fuzzy and unclear regarding the best CAS package available. Business processing needs of SMEs are varied so it is expected that the suggested model would support SMEs in developing countries select the “most appropriate” CAS that may meet their respective financial transaction processing needs.

Training of Implementation of Simple Financial Statements on Waste Bank Group in West Jakarta

Regulation of the Minister of Environment No 13 of 2012 on the implementation of Reduce, Reuse, and Recycle (Ministry of Environment, 2012) is to manage waste through 3R principles (Reduce, Reuse, and Recycle). This regulation drives the community to establish a waste bank. Community Service on Training on Implementation Simple financial report on waste bank group aims to; provide theory, demonstration and practice about account code creation, document formats, and financial transaction processing on Member Savings Books / Waste customers. A waste bank is a concept of collecting and sorting dry waste, and has management like a bank but a savings is not of money but rubbish. Waste bank report, Purchase Report, Debt Report, Sales Report, Receivable Report and Cash and Cash Equivalent Report, Inventory Report, Journal, General Ledger, Trial Balance and Financial Statement (Balance Sheet, Income Statement and Cash Flow) Waste bank can monitor and control the source and the use of funds . The efficiency and accountability of revenue and expenditure of funds can be better so that profitability of business can increase. Training methods used (1) Lecture and Discussion, (2) Demonstration, and (3) Direct Practical Simple Finanvial Statement . Outcomes of this activity are the Improvement of knowledge, better understanding, skills of application of financial report recording from Waste Bank management.

A legitimacy challenge of a cross-cultural interorganizational information system

This paper studies the adoption and diffusion of a cross-cultural Interorganizational Information System (IOS), which is used to streamline the processing of financial transactions between European investment fund companies and Taiwanese banks. Drawing from institutional and organizational legitimacy theory, we argue that the adoption and implementation of technological innovation is contingent upon its alignment with three institutional pillars in different countries and the deployment of legitimation strategies by stakeholders. Departing from classical innovation diffusion theory, our empirical investigation reveals that the implementation of a cross-cultural IOS is a dynamic process involving the recognition, understanding, and management of the regulative, normative, and cognitive challenges arising in two different institutional settings. This paper contributes to the growing body of research that highlights the significance of social and institutional influences on the adoption of IOS in a global environment.

Perancangan Aplikasi Laporan Laba Rugi Menggunakan Metode Berorientasi Objek

The purpose of this study was to Designing Applications Income Statement CV. PAHLAWAN TOURS in support of the activities of the processing of financial transactions in the Finance section. With less well in the management and storage of data, resulting in the process of recording transactions that are not done correctly in the accounting. As a means to overcome the above problems, the authors create application programs using the income statement analysis and system development with object oriented methodology models Unified Approach (UA) raised by Ali Bahrami (1999), comprising the steps of Object Oriented Analysis (OOA) and Object Oriented Design (OOD) using Unified Modeling Language (UML) for modeling system requirements. Based on the analysis and design on the application income statement, can produce applications that aim to maximize every working processes and to support the activities of the particular financial transaction.

Marshall & Ilsley Corp.

AbstractCommercial Banking (MIC: 8.1 SIC: 6021 NAIC: 522110)Marshall & Ilsley, a multibank holding company with assets of $40.40 billion as of Dec 31 2004, is headquartered in Milwaukee, WI. Co. has 196 banking offices in Wisconsin, 34 locations throughout Arizona, 12 offices in Minnesota, six offices in Missouri, two offices in Florida, one office in Nevada and one office in Illinois, as well as on the Internet. Co. also provides trust services, residential mortgage banking, capital markets, brokerage and insurance, commercial leasing and commercial mortgage banking. Co.'s principal subsidiary is Metavante Corporation, a provider of integrated financial transaction processing, outsourcing services, software, and consulting services.

Marshall & Ilsley Corp.

AbstractCommercial Banking (MIC: 8.1 SIC: 6021 NAIC: 522110)Marshall & Ilsley, a multibank holding company with assets of $40.40 billion as of Dec 31 2004, is headquartered in Milwaukee, WI. Co. has 196 banking offices in Wisconsin, 34 locations throughout Arizona, 12 offices in Minnesota, six offices in Missouri, two offices in Florida, one office in Nevada and one office in Illinois, as well as on the Internet. Co. also provides trust services, residential mortgage banking, capital markets, brokerage and insurance, commercial leasing and commercial mortgage banking. Co.'s principal subsidiary is Metavante Corporation, a provider of integrated financial transaction processing, outsourcing services, software, and consulting services.

Marshall & Ilsley Corp.

AbstractCommercial Banking (MIC: 8.1 SIC: 021 NAIC: 22110)Marshall & Ilsley, a multibank holding company with assets of $40.40 billion as of Dec 31 2004, is headquartered in Milwaukee, WI. Co. has 196 banking offices in Wisconsin, 34 locations throughout Arizona, 12 offices in Minnesota, six offices in Missouri, two offices in Florida, one office in Nevada and one office in Illinois, as well as on the Internet. Co. also provides trust services, residential mortgage banking, capital markets, brokerage and insurance, commercial leasing and commercial mortgage banking. Co.'s principal subsidiary is Metavante Corporation, a provider of integrated financial transaction processing, outsourcing services, software, and consulting services.

The role of performance engineering techniques in the context of the Grid

AbstractPerformance engineering can be described as a collection of techniques and methodologies whose aim is to provide reliable prediction, measurement and validation of the performance of applications on a variety of computing platforms. This paper reviews techniques for performance estimation and performance engineering developed at the University of Southampton and presents application case studies in task scheduling for engineering meta‐applications, and capacity engineering for a financial transaction processing system. These show that it is important to describe performance in terms of a resource model, and that the choice of models may have to trade accuracy for utility in addressing the operational issues. We then present work from the on‐going EU funded Grid project GRIA, and show how lessons learned from the earlier work have been applied to support a viable business model for Grid service delivery to a specified quality of service level. The key in this case is to accept the limitations of performance estimation methods, and design business models that take these limitations into account rather than attempting to provide hard guarantees over performance. We conclude by identifying some of the key lessons learned in the course of our work over many years and suggest possible directions for future investigations. Copyright © 2005 John Wiley & Sons, Ltd.

Marshall & Ilsley Corp.

AbstractCommercial Banking (MIC: 8.1 SIC: 6021 NAIC:522110)Marshall & Ilsley, a multibank holding company with assets of $34.40 billion as of Dec 31 2003, is headquartered in Milwaukee, WI. Co. has 199 banking offices in Wisconsin, 28 locations throughout Arizona, 11 offices in Minnesota, six offices in Missouri, two offices in Florida, one office in Nevada and one office in Illinois, as well as on the Internet. Co. also provides trust services, residential mortgage banking, capital markets, brokerage and insurance, commercial leasing and commercial mortgage banking. Co.'s principal subsidiary is Metavante Corporation, a provider of integrated financial transaction processing, outsourcing services, software, and consulting services.