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The back office is composed of the human resources department, office managers and customer care representatives who provide support, administrative and payment services. Generally, the back and middle office involves non-revenue generating operations related to risk management and ensuring proper execution of transactions. [2]
Although the operations of a back office are seldom prominent, they are a major contributor to a business's success. [1] They can include functions such as accounting, planning, inventory management, supply-chain management, human resources and logistics. [2] Back offices are often located somewhere other than company headquarters. Many are in ...
These types of companies provide control solutions and overall productivity for corporate treasury, improved workflow, central banking, bank treasury, exchange and global back-office operations. Examples of these back-office tasks include IT departments that keep the phones and computers running (operations architecture), accounting, human ...
Back-office transaction process management for loans or credit card portfolios, including custody services, fraud mitigation and detection, regulatory and program management compliance, portfolio analytics, reporting, conversions, management of technology platforms, interfaces for customer data, and custom development.
Midas is a line of banking software that was provided by British software company Misys corporation. It was initially developed in the 1970s and gained significant market share through the 1980s and 1990s. The system includes a core banking system and supporting back office systems for treasury and international banking. [1]
Retail back-office software is used to manage business operations that are not related to direct sales efforts and interfaces that are not seen by consumers. [1] Typically, the business processes managed with back-office software include some combination of inventory control, price book management, manufacturing, and supply chain management (SCM). [2]
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Investment banking is split into front office, middle office, and back office activities. While large service investment banks offer all lines of business, both "sell side" and "buy side", smaller sell-side advisory firms such as boutique investment banks and small broker-dealers focus on niche segments within investment banking and sales ...