An initiative that financial companies use to optimize the speed at which they process transactions. Performed by allowing information that has been electronically entered to be transferred from one party to another in the settlement process without manually re-entering the same pieces of information repeatedly over the entire sequence of events.
The process of substituting a sensitive data element with a non-sensitive equivalent, referred to as a token, that has no extrinsic or exploitable meaning or value. The token serves as an identifier that maps back to the sensitive data.
The creation and governance of policies and procedures that ensure the company manages financial risk successfully. Sometimes referred to as “cash management” because a primary function of treasury management is to establish levels for cash/cash equivalents so that a company can meet its financial obligations on time.
A software application or ERP software component that automates the repetitive steps needed to manage a company’s cash flow. Can be managed in-house or purchased as a service from a third-party provider; consists of hardware, software and real-time data for cash positions, interest rates, payables, receivables and foreign exchange rates.
A unicorn is a term used in the venture capital industry to describe a privately held startup company with a value of over $1 billion.
The analytical process of determining the current (or projected) worth of an asset or a company. An analyst placing a value on a company looks at the business’s management, the composition of its capital structure, the prospect of future earnings, and the market value of its assets, among other metrics.
Also called Single Use Account; allows the payer to issue a single electronic card for each payment, which disappears after the amount has been redeemed.
A transaction that is canceled by a merchant or vendor before it settles through a consumer’s debit or credit card account.
An electronic transfer of funds across a network administered by hundreds of banks or transfer service agencies around the world. No physical money is transferred between banks or FIs when conducting a wire transfer. Instead, information is passed between banking institutions about the recipient, the recipient bank account number, and the amount transferred.
A checking account in which a balance of zero is maintained. When funds are needed in the ZBA, the exact amount of money required is automatically transferred from a central or master account.
