The Rate Spread Calculator is an online tool provided by the Federal Financial Institutions Examination Council (FFIEC) that helps bankers compare a loan’s APR to the national average, based on the set of terms offered in a HMDA-reportable loan.
Real-Time Payments (RTP) is a U.S.-based instant payment infrastructure operated by The Clearing House, designed to enable the immediate transfer of funds between participating financial institutions.
Regulation CC is a federal regulation that establishes how banks and credit unions must manage funds availability, check processing, and related disclosures for transaction accounts.
Related entities refer to relationships between a bank’s customers and accounts.
A financial institution might “resolve” an exception once the item in question has come into conformity with certain predefined requirements.
A retail lockbox is designed for businesses that deal with high volumes of consumer payments, such as utilities, credit card companies, and subscription-based services.
In banking, self-service capabilities enable customers or members to complete transactions that previously required visiting a branch or calling the institution’s servicing center. Wide-spread adoption of digital and mobile banking solutions have helped banks and credit unions empower account holders with additional self-service capabilities.
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.