|
Banking As A Service
Banking as a service (BaaS) is the provision of banking products (such as current accounts and credit cards) to non-bank third parties through APIs. Description As a value network, BaaS aims at seamlessly integrating as many service providers as needed into one comprehensive process to complete a financial service in an effective and timely manner. It is implied that a BaaS would include certain features in addition to providing a financial service. There must be means for managing, deploying and delivery of the services' environment. The services must of course be in legal compliance with the banking laws in the regions where it is made available, with (at least) one entity within the process possessing a banking license. Of utmost importance is the assurance that proper mechanisms are in place to provide security, such as strong authentication and additional measures to protect sensitive information from unauthorized access throughout the entire process. These security mecha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking As A Service - Infographics
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PSD2
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] |
Financial Markets
A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets as commodities. The term "market" is sometimes used for what are more strictly ''exchanges'', organizations that facilitate the trade in financial securities, e.g., a stock exchange or commodity exchange. This may be a physical location (such as the New York Stock Exchange (NYSE), London Stock Exchange (LSE), JSE Limited (JSE), Bombay Stock Exchange (BSE) or an electronic system such as NASDAQ. Much trading of stocks takes place on an exchange; still, corporate actions (merger, spinoff) are outside an exchange, while any two companies or people, for whatever reason, may agree to sell the stock from the one to the other without using an exchange. Trading of currencies and bonds is largely on a bilateral basis, although some bonds trade o ... [...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] |
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] |
Banco Votorantim
Banco BV is the seventh largest bank in Brazil. It operates in the wholesale, retail, treasury, asset management and brokerage fields, and was founded in 1988. Its headquarters are located in São Paulo, Brazil. The operations of Banco BV is driven by a set of institutions that operate in an integrated way: the Bank provides businesses products and services for the commercial sector and investment, the ''BV Financeira'' operates in the financing and consumer credit; ''Votorantim Asset Management'' (VAM) manages the resources of others, and Vototrantim CVTM makes securities and brokerage. The bank its owned by Votorantim Group and the Banco do Brasil Banco do Brasil S.A. ( en, Bank of Brazil) is a Brazilian financial services company headquartered in Brasília, Brazil. The oldest bank in Brazil, and among the oldest banks in continuous operation in the world, it was founded by John VI, King ..., the operation was completed on 28 September 2009. Banco do Brasil then hold 49. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation. In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes. The SEC was created by Section 4 of the Securities Exchange Act of 1934 (now codified as and commonly referred to as the Exchange Act or the 1934 Act). Overview The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. To achieve its mandate, the SEC enforces the statutory requirement that public companies and other regulated companies submit quarterly and annual re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Service Provider
A trust service provider (TSP) is a person or legal entity providing and preserving digital certificates to create and validate electronic signatures and to authenticate their signatories as well as websites in general. Trust service providers are qualified certificate authorities required in the European Union and in Switzerland in the context of regulated electronic signing procedures. History The term ''trust service provider'' was coined by the European Parliament and the European Council as important and relevant authority providing non-repudiation to a regulated electronic signing procedure. It was first brought up in the Electronic Signatures Directive 1999/93/EC and was initially named ''certification-service provider.'' The directive was repealed by the eIDAS Regulation which became official on July 1, 2016. A regulation is a binding legislative act that requires all EU member states to follow. Description The trust service provider has the responsibility to assure the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Identification
An electronic identification ("eID") is a digital solution for proof of identity of citizens or organizations. They can be used to view to access benefits or services provided by government authorities, banks or other companies, for mobile payments, etc. Apart from online authentication and login, many electronic identity services also give users the option to sign electronic documents with a digital signature. One form of eID is an electronic identification card (eIC), which is a physical identity card that can be used for online and offline personal identification or authentication. The eIC is a smartcard in ID-1 format of a regular bank card, with identity information printed on the surface (such as personal details and a photograph) and in an embedded RFID microchip, similar to that in biometric passports. The chip stores the information printed on the card (such as the holder's name and date of birth) and the holder's photo(s). Several photos may be taken from different an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Authentication
Authentication (from ''authentikos'', "real, genuine", from αὐθέντης ''authentes'', "author") is the act of proving an assertion, such as the identity of a computer system user. In contrast with identification, the act of indicating a person or thing's identity, authentication is the process of verifying that identity. It might involve validating personal identity documents, verifying the authenticity of a website with a digital certificate, determining the age of an artifact by carbon dating, or ensuring that a product or document is not counterfeit. Methods Authentication is relevant to multiple fields. In art, antiques, and anthropology, a common problem is verifying that a given artifact was produced by a certain person or in a certain place or period of history. In computer science, verifying a user's identity is often required to allow access to confidential data or systems. Authentication can be considered to be of three types: The first type of au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EIDAS
eIDAS (electronic IDentification, Authentication and trust Services) is an EU regulation on electronic identification and trust services for electronic transactions in the European Single Market. It was established in EU Regulation 910/2014 of 23 July 2014 on electronic identification and repeals 1999/93/EC from 13 December 1999. It entered into force on 17 September 2014 and applies from 1 July 2016 except for certain articles, which are listed in its Article 52. All organizations delivering public digital services in an EU member state must recognize electronic identification from all EU member states from September 29, 2018. Description eIDAS oversees electronic identification and trust services for electronic transactions in the European Union's internal market. It regulates electronic signatures, electronic transactions, involved bodies, and their embedding processes to provide a safe way for users to conduct business online like electronic funds transfer or transac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Online Banking")
.png "Click for more on -> Electronic Identification")
