Challenges in Transaction Screening for Online Money Transfers and its Effects on the Customer Experiences in the UAE

Westford
Research Journal

Online ISSN No. 2790 – 3885

Challenges in Transaction Screening for Online Money Transfers and its Effects on the Customer Experiences in the UAE

Frino Rebelo
ORCID No: 0000-0001-7802-7930
Email: frinorebelo@gmail.com
Westford University College – UCAM Spain
Dr. Raman Subramanian
ORCID No.0000-0002-7175-3187
Email raman@westford.org.uk
Address: Westford University College, UAE

ABSTRACT

The banks are financial institutions that are always at high financial risks such as money laundering, terrorist
financing, identity theft, cybercrimes, smuggling, illegal financing of weapons and drugs, corruption,
bribery, and other financial crimes. To combat these financial crimes, the banks implement Anti-Money
Laundering to combat financial crimes like money laundering and Counter Terrorist Funding procedures to
combat terrorist financing. In addition, the banks also implement compliance and diligence procedures such
as Know Your Customer and Customer Due Diligence which helps the banks to identify the actual details of
their customers to ensure privacy, financial stability, integrity, and transparency of the banks. The banks
implement Anti-Money Laundering/Counter-Terrorist Funding/Know Your Customer/Customer Due
Diligence procedures and for that they screen transactions of the customers. However, the banks sometimes
generate false positives and automated results that can negatively impact the customer satisfaction and
service. These screenings can disrupt the trust between the stakeholders of the banks and customers and
further impact the banks brand image and competitive advantage. Hence, the primary aim of the current
research is to analyse the challenges in transaction screening for online money transfers and its effect on the
customer experience in the UAE. In regard to this, the research aimed to achieve research objectives such as
identifying the challenges in transaction screening for online money transfers, analysing the current risk management practices, quantifying the customer experience that is affected by the challenges in transaction
screening, and recommend approaches that can be implemented in the UAE bank for efficient transaction
screening. To meet the objectives, the researcher conducted quantitative research in which a survey was
distributed to collect data. After the data collection from 50 respondents, descriptive analysis was conducted
along with certain tests such as descriptive analysis and correlation analysis in SPSS software. All the
research objectives were met during the research. However, the research would have been stronger if the
sample size would have been larger and if it would have been conducted on a large scale to increase the
generalizability of the research.

Keywords— Transaction Screening, online money transfers, customer experience, banking, money
laundering and customer satisfaction.

Job Satisfaction and its Effect on Employee’s Performance: The Case of MarTrust Corporation Ltd.

Westford
Research Journal

Online ISSN No. 2790 – 3885

Job Satisfaction and its Effect on Employee’s Performance:
The Case of MarTrust Corporation Ltd.

ANTONIOS MIHALAKIS
ORCID NO. 0000-0001-5036-1160
Email: michalakis.a@gmail.com
Westford University College – UCAM, Spain
JOHN GILBERT FLORES
ORCID No. 0000-0003-4853-6210
Address: john@westford.org.uk
Address: Westford University College, Sharjah UAE

ABSTRACT

Job satisfaction and employee performance have become one of the major areas of concern for organizations – challenging it will help maintain or even enhance financially healthy positions. MarTrust Corporation Ltd is an organization that has been servicing the maritime industry and has been constantly growing since its inception in 2016. The research relied on available literature and primary data collected by a survey to perform an analysis. The study aims at identifying and addressing the problematic aspects of job satisfaction that impact employee motivation and performance. Motivation was found to be depended on two variables (dimensions) that define job satisfaction – nature of work, and opportunities for development. The effect of remuneration was also noted to be of significant. The final chapter concluded the dissertation where implications and recommendations were made to the incumbent organization to retain its best talent and maintain financial health in the long run.

Keywords— Job Satisfaction, Employee Performance