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”.
Related Terms
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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.
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Office of Foreign Assets Control (OFAC)
Office of Foreign Assets Control. A US regulatory Agency that is responsible for monitoring funds held or transferred to illegal entities. The OFAC list is a list of companies/individuals that should be prevented from sending/receiving...
