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Financial Terms

KYC

It helps in preventing fraud and financial crimes such as money laundering. The process involves collecting information about a customer's identity, occupation, and source of income.

KYC, or "Know Your Customer," is a crucial concept in the world of finance. It enables institutions to ensure the legitimacy of their customers and prevent potential financial crimes. By collecting details like identity, occupation, and source of income, KYC helps institutions stay vigilant and protect against fraud and money laundering. In other words, it's a necessary step towards maintaining the integrity and security of the financial industry.

Lagging Indicator

A Lagging Indicator is a vital tool in the world of finance. It provides valuable feedback, but with a slight delay, making it a useful tool for traders to validate price tr...

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Devaluation

This action is usually taken to achieve a more favorable balance of trade and increase competitiveness in the international market. Devaluation, a term often used in the wo...

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Guaranteed Survival Benefit

As an esteemed financial expert, I am here to impart my knowledge on the concept of policyholder entitlements. This refers to the sum of money that the policyholders are eli...

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One-sided Market

A market in which the market makers are only able to offer a single price, instead of both the asking and the bid prices, is referred to as a One-sided Market or a One-way M...

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