Correspondent Banking
A relationship entered into between a small bank and a big bank in which the big bank provides a number of deposit, lending, and other services.
Related Terms
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Electronic Funds Transfer (EFT)
Electronic funds transfer or EFT refers to the computer-based systems used to perform financial transactions electronically. An EFT is the electronic exchange or transfer of money from one account to another, either within the same...
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Web Services
Web service is part of a SOAP architecture and is defined as "a software system designed to support interoperable machine-to-machine communication”.
