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Account Aggregation
Account aggregation sometimes also known as financial data aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. This may be provided through connecting via an API to the financial institution or provided through "screen scraping" where a user provides the requisite account-access information for an automated system to gather and compile the information into a single page. The security of the account access details as well as the financial information is key to users having confidence in the service. The database either resides in a web-based application or in client-side software. While such services are primarily designed to aggregate financial information, they sometimes also display other things such as the contents of e-mail boxes and news headlines. Account Aggregator System Account aggregator system is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Account
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, Transaction account, current accounts, loan accounts or many other types of account. A customer may have more than one account. Once an account is opened, funds entrusted by the customer to the financial institution on deposit are recorded in the account designated by the customer. Funds can be withdrawn from loan loaders. The financial transactions which have occurred on a bank account within a given period of time are reported to the customer on a bank statement, and the balance of the accounts of a customer at any point in time is their financial position with the institution. Nature of a bank account In most legal s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Single Sign-on
Single sign-on (SSO) is an authentication scheme that allows a user to log in with a single ID to any of several related, yet independent, software systems. True single sign-on allows the user to log in once and access services without re-entering authentication factors. It should not be confused with same-sign on (Directory Server Authentication), often accomplished by using the Lightweight Directory Access Protocol (LDAP) and stored LDAP databases on (directory) servers. A simple version of single sign-on can be achieved over IP networks using cookies but only if the sites share a common DNS parent domain. For clarity, a distinction is made between Directory Server Authentication (same-sign on) and single sign-on: Directory Server Authentication refers to systems requiring authentication for each application but using the same credentials from a directory server, whereas single sign-on refers to systems where a single authentication provides access to multiple applications by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Account Aggregation Providers .
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Account may refer to: * Account (bookkeeping) * A report * A bank account ** Deposit account ** Personal account ** Sweep account ** Transaction account * User account, the means by which a user can access a computer system * Customer of a company, used in B2B business. See account manager or account executive Account executive is a role in sales, advertising, marketing, and finance involving intimate understanding of a client company's objectives and products and a professional capability to provide effective advice toward creation of successful promot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Password Fatigue
Password fatigue is the feeling experienced by many people who are required to remember an excessive number of passwords as part of their daily routine, such as to log in to a computer at work, undo a bicycle lock or conduct banking from an automated teller machine. The concept is also known as password chaos or more broadly as identity chaos. Causes The increasing prominence of information technology and the Internet in employment, finance, recreation and other aspects of people's lives, and the ensuing introduction of secure transaction technology, has led to people accumulating a proliferation of accounts and passwords. According to a survey conducted in February 2020 by password manager Nordpass, a typical user has 100 passwords. Some factors causing password fatigue are: * unexpected demands that a user create a new password * unexpected demands that a user create a new password that uses particular pattern of letters, digits, and special characters * demand that the user ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Password Manager
A password manager is a computer program that allows users to store and manage their passwords for local applications and online services. In many cases software used to manage passwords allow also generate strong passwords and fill forms. Password manager can be delivered as a one of or mixed of: computer application, mobile application, web browser extension, web based service, portable software for USB units. A password manager assists in generating and retrieving complex passwords, storing such passwords in an encrypted database, or calculating them on demand. Depending on the type of password manager used and on the functionality offered by its developers, the encrypted database is either stored locally on the user's device or stored remotely through an online cloud storage. Password managers typically require a user to generate and remember one "master" password to unlock and access information stored in their databases. Modern password managers increase security usi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Services Directive
The Revised Payment Services Directive (PSD2, Directive (EU) 2015/2366, which replaced the Payment Services Directive (PSD), Directive 2007/64/EC) is an EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). The PSD's purpose was to increase pan-European competition and participation in the payments industry also from non-banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users. The key objectives of the PSD2 directive are creating a more integrated European payments market, making payments more secure and protecting consumers. Overview The SEPA (Single Euro Payments Area) is a self-regulatory initiative by the European banking sector represented in the European Payments Council, which defines the harmonization of payment products, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Banking
Open banking is a financial services term within financial technology. It refers to: #The use of open APIs that enable third-party developers to build applications and services around the financial institution. #Greater financial transparency options for account holders, ranging from open data to private data. #The use of open source technology to achieve the above. Open banking, as a concept, could be considered as a subspecies to the open innovation concept, a term promoted by Henry Chesbrough. It is linked to shifts in attitudes towards the issue of data ownership, illustrated by regulations such as GDPR and concepts such as the open data movement. The banks turn into a financial service platforms, technically implemented through a Banking as a Service-concept. History In October 2015, the European Parliament adopted a revised Payment Services Directive, known as PSD2. The new rules were aimed at promoting the development and use of innovative online and mobile payments th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Banking
Online banking, also known as internet banking, web banking or home banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank to provide customers access to banking services in addition to or in place of traditional branch banking. Online banking significantly reduces the banks' operating cost by reducing reliance on a branch network and offers greater convenience to some customers by lessening the need to visit a branch bank as well as the convenience of being able to perform banking transactions even when branches are closed. Internet banking provides personal and corporate banking services offering features such as viewing account balances, obtaining statements, checking recent transactions, transferring money between accounts, and mak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Banking
Open banking is a financial services term within financial technology. It refers to: #The use of open APIs that enable third-party developers to build applications and services around the financial institution. #Greater financial transparency options for account holders, ranging from open data to private data. #The use of open source technology to achieve the above. Open banking, as a concept, could be considered as a subspecies to the open innovation concept, a term promoted by Henry Chesbrough. It is linked to shifts in attitudes towards the issue of data ownership, illustrated by regulations such as GDPR and concepts such as the open data movement. The banks turn into a financial service platforms, technically implemented through a Banking as a Service-concept. History In October 2015, the European Parliament adopted a revised Payment Services Directive, known as PSD2. The new rules were aimed at promoting the development and use of innovative online and mobile payments th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robo-advisor
Robo-advisors or robo-advisers are a class of financial adviser that provide financial advice and investment management online with moderate to minimal human intervention. They provide digital financial advice based on mathematical rules or algorithms. These algorithms are designed by financial advisors, investment managers and data scientists, and coded in software by programmers. These algorithms are executed by software and do not require a human advisor to impart financial advice to a client. The software utilizes its algorithms to automatically allocate, manage and optimize clients' assets for either short-run or long-run investment.D'Acunto, Francesco & Prabhala, N. & Rossi, Alberto G. (2019)"The Promises and Pitfalls of Robo-Advising." Review of Financial Studies /ref> Robo-advisors are categorized based on the extent of personalization, discretion, involvement, and human interaction.D'Acunto, Francesco & Rossi, Alberto G. (2020)"Robo-Advising." Available at SSRN /ref> There ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent Financial Adviser
Independent financial advisers (IFAs) are professionals who offer independent advice on financial matters to their clients and recommend suitable financial products from the ''whole of the market''. The term was developed to reflect a United Kingdom (UK) regulatory position and has a specific UK meaning, although it has been adopted in other parts of the world, such as Hong Kong. The term "independent financial adviser" was coined to describe the advisers working independently for their clients rather than representing an insurance company, bank or bancassurer. At the time (1988) the UK government was introducing the polarisation regime which forced advisers to either be tied to a single insurer or product provider or to be an independent practitioner. The term is commonly used in the United Kingdom where IFAs are regulated by the Financial Conduct Authority (FCA) and must meet strict qualification and competence requirements. Typically an independent financial adviser will con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security Assertion Markup Language
Security Assertion Markup Language (SAML, pronounced ''SAM-el'', ) is an open standard for exchanging authentication and authorization data between parties, in particular, between an identity provider and a service provider. SAML is an XML-based markup language for security assertions (statements that service providers use to make access-control decisions). SAML is also: * A set of XML-based protocol messages * A set of protocol message bindings * A set of profiles (utilizing all of the above) An important use case that SAML addresses is web-browser single sign-on (SSO). Single sign-on is relatively easy to accomplish within a security domain (using cookies, for example) but extending SSO across security domains is more difficult and resulted in the proliferation of non-interoperable proprietary technologies. The SAML Web Browser SSO profile was specified and standardized to promote interoperability.J. Hughes et al. ''Profiles for the OASIS Security Assertion Markup Language ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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