Peer-to-peer (P2P) payments involve transferring funds electronically between individuals (peers) via digital platforms or mobile apps.
A person-centric approach to enterprise content management enables financial institutions to create a banking environment that treats account holders as unique individuals.
Professional bank couriers are used to move documents—and sometimes cash—between a bank’s locations, often from a branch to its main facility.
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.
Deposit returns occur when a check or deposited payment is sent back unpaid by the paying financial institution after it has entered the collection process.
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.