A signature card form is generated when a customer opens a checking or savings account at a bank.
Single sign-on (SSO) is a way to connect applications so that users do not have to reauthenticate. With single sign-on, one application passes user-specific information to another, thereby reducing or eliminating the need to manually key in usernames, passwords, and other forms of identification.
Unlike hard information, which can be easily quantified about a person or business, soft information includes facts, commentary, and other details that are less tangible and somewhat difficult to share.
A Software Development Kit (SDK) is a set of tools, libraries, documentation, and sample code provided by software companies to help developers create applications (apps) for specific platforms, frameworks, or programming languages.
Modern banks and credit unions rely on a variety of software to track their loan portfolios. When strategically implemented, loan portfolio tracking software can provide banks and credit unions with a global view of their investments.
Suspicious activity monitoring is the procedure of identifying, researching, documenting—and, if necessary, reporting—a customer’s banking pattern when it indicates possible illegal behavior.
SWIFT is a global financial messaging network that enables banks and financial institutions to securely exchange payment instructions and transaction details across borders.
A task exception occurs when a predefined action (the “task”) fails to be completed as expected. As with other types of exceptions, financial institutions should implement processes and systems for efficiently monitoring, reporting on, and resolving task exceptions.
A tickler file is a paper or digital reminder system. It organizes a list of current or future tasks that need to be completed or or tracked—either once or on a recurring basis.
A tickler report provides bank employees with a list of expiring documents that require action. Bankers can also generate lists of items that have already passed the expiration or due date.
In lending, trailing documents are items needed for the loan file that lag behind the consummation date. Banks should proactively identify the documents that are needed for a particular account, take steps to secure them, and track that they have been received.
TRID is an acronym that stands for TILA-RESPA Integrated Disclosures. TRID was developed with the intent to allow potential homebuyers to easily shop for the best deal on a mortgage by requiring lenders to provide standardized and transparent details about loans.