The know-your-customer (KYC) due diligence process is outdated and generates costs of up to USD 500 million per year per bank. The authors propose a new system, based on distributed ledger technology (DLT), that reduces the costs of the core KYC verification process for financial institutions and improves the customer experience. In the proposed system, the core KYC verification process is only...

It is frequently assumed that rising enrollment improves an institution’s financial condition. In fact, enrollment growth can have an adverse impact on the institution’s financial condition, even in the presence of excess capacity. The reason for this surprising conclusion is that the size of the subsidy required to attract additional students may cause the net financial impact to be negative. ...

This paper examines the corporate funding flows of Irish credit institutions over the period 2009 to end-2010. The analysis examines the daily net movement across the consolidated corporate and retail deposit books of the domestic Irish banking sector and models these flows as a function of bank specific measures of risk, sovereign influences and general macro-financial conditions. The internat...

Drawing on recent literature, the paper argues that institutions and political economy factors hold the key to understanding why some countries have succeeded in developing their financial systems while others have not. The paper also reviews new evidence which suggests that institutional quality may influence the effectiveness of financial development in delivering economic growth. These new f...

The financial crisis of 2007/08 has demonstrated that factors for financial distress of large parts of the economy depend to a large extent on the interrelations between the financial institutions. Risks threatening the financial sector can be decomposed into risks based in the individual factors for single institutions and risks which can be attributed to the financial system as a whole. This ...