Industry WIKI

Arbitrage ( , UK also ) is the practice of taking advantage of a difference in prices in two or more markets – striking a combination of matching deals to capitalize on the difference, the profit being the difference between the market prices at which the unit is traded. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge.

A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded. Each financial institution sets the terms and conditions for each type of account it offers, which are classified in commonly understood types, such as deposit accounts, credit card accounts, current accounts, loan ac

Banking secrecy, alternatively known as financial privacy, banking discretion, or bank safety, is a conditional agreement between a bank and its clients that all foregoing activities remain secure, confidential, and private. Most often associated with banking in Switzerland, banking secrecy is prevalent in Luxembourg, Monaco, Hong Kong, Singapore, Ireland, and Lebanon, among other off-sh

"Banq" and "banc" are alternative spellings used in company names to evade legal restrictions on the use of the word 'bank' while maintaining a similar pronunciation. This practice is common in the financial services industry, particularly in the United States.

The China Foreign Exchange Trade System (CFETS; Chinese: 中國外匯交易中心), also known as National Interbank Funding Center (NIFC; Chinese: 全国银行间同业拆借中心), is a financial market infrastructure and electronic trading platform in China, established in 1994 in Shanghai under the People's Bank of China (PBC).

A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below.

A direct bank (sometimes called a branch-less bank or virtual bank) is a bank that offers its services only via the Internet, mobile app, email, and other electronic means, often including telephone, online chat, and mobile check deposit. A direct bank has no branch network. It may offer access to an independent banking agent network and may also provide access via ATMs (often through in

A direct debit or direct withdrawal is a mandated financial transaction whereby a payer authorizes a payee to draw varying recurring amounts directly from the payer's bank account, commonly used for billing utilities, loans, and subscriptions. Formally, the organisation that calls for the funds ("the payee") instructs their bank to collect (i.e., debit) an amount directly from another's

Electronic billing or electronic bill payment and presentment, is when a seller such as company, organization, or group sends its bills or invoices over the internet, and customers pay the bills electronically. This replaces the traditional method where invoices are sent in paper form and payments are done by manual means such as sending cheques.

The international currency code for the Euro is EUR, with the symbol €. This article introduces its positioning, mechanism, usage verification, and common misconceptions.

Financial market infrastructure refers to systems and entities involved in clearing, settlement, and the recording of payments, securities, derivatives, and other financial transactions. Depending on context, financial market infrastructure may refer to the category in general, or to individual companies or entities (thus also used in plural: financial market infrastructures).

There are two basic financial market participant distinctions, investors versus speculators and institutional versus retail. Action in financial markets by central banks is usually regarded as intervention rather than participation.

Full-reserve banking (also known as 100% reserve banking) is a system of banking where banks do not lend demand deposits and instead only lend from time deposits. It differs from fractional-reserve banking, in which banks may lend funds on deposit, while fully reserved banks would be required to keep the full amount of each customer's demand deposits in cash, available for immediate with

A giro transfer, often shortened to giro (), is a payment transfer between current bank accounts and initiated by the payer, not the payee. The debit card has a similar model. Giros are primarily used in Europe; although electronic payment systems exist in the United States (e.g., the Automated Clearing House), it is not possible to perform third-party transfers with them. In the Europea

Grey, formerly known as Aboki Africa, is a financial technology company headquartered in Delaware, US. Founded in 2020 by Idorenyin Obong and Femi Aghedo during the global pandemic of 2020, the company focuses on creating global financial products for digital nomads. Grey is registered and licensed in Canada by FinTrac and the USA by FinCen and operates in the financial service market.

The Convention on the law applicable to certain rights in respect of securities held with an intermediary, or Hague Securities Convention is an international multilateral treaty intended to remove, globally, legal uncertainties for cross-border securities transactions. The Convention was drafted under the auspices of the Hague Conference on Private International Law, which as resulted in

In the United Kingdom, only an authorised or licensed insolvency practitioner (IP) may be appointed in relation to formal insolvency procedures.

Liquidation or winding-up is the process in law by which a company is brought to an end and its assets and property distributed to claimants. When a company has been liquidated, it is sometimes said to be wound-up or dissolved, although dissolution technically refers only to the final stage of liquidation.

A money center bank (also written money-center bank) is a bank or bank holding company that is a particular kind of high-end commercial bank: located in a major financial center such as New York or San Francisco, its lending operations are financed by borrowings from other banks or by issuing bonds. Money center banks tend to engage in a number of different or related businesses, such as

Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as a consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021. However, Gandhi left Nium in October 2023, around the

The Pan-African Payment and Settlement System (PAPSS) is a Pan-African real-time gross settlement (RTGS) infrastructure for cross-border payments in distinct local currencies. It was publicly launched on January 13, 2022 by the African Union (AU) and the African Export-Import Bank (Afreximbank) to compliment trading under the African Continental Free Trade Area (AfCFTA) with further roll

A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, payment instruments such as payment cards, people, rules, procedures, standards, and technologies that make its exchange possible. A payment system is an operational network which links bank accounts and provides for monetary exchange using bank dep

Private banking is a general description for banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs) – those with very high income or substantial assets. Private banking is presented by those who provide such services as an exclusive subset of wealth management services, provided to particularly af

Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate banking).

The Single Euro Payments Area (SEPA) is a payment-integration system of the European Union that makes cross-border bank transfers in euros as fast, cheap, and simple as domestic payments. It allows individuals and businesses to make cashless euro transfers to any account within the zone using a single bank account and an International Bank Account Number, under the same basic conditions

Subordination in banking and finance refers to the order of priorities in claims for ownership or interest in various assets.

Transfast is an international money transfer and cross-border payments company headquartered in New York, with additional offices in India (Kochi, Pune, Jalandhar, and Hoshiarpur), the UAE, Nigeria, and the Philippines. Transfast is owned by Mastercard.

A universal bank is a type of bank which participates in many kinds of banking activities and is both a commercial bank and an investment bank as well as providing other financial services such as insurance. These are also called full-service financial firms, although there can also be full-service investment banks which provide wealth and asset management, trading, underwriting, researc

The international currency code for the US dollar is USD. This article covers its definition, mechanisms, verification methods, and common misconceptions.