Core Banking Concepts - MS
Types of Payments
International Payments (SWIFT)
Customer Transfer- 103 / 103 +
Bank Transfer - 202
Transfer on Own Account
Straight Through Processing
An initiative used by companies in the financial world to optimize the speed at which transactions are processed. This is 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
One of the most important features of the Funds Transfer module of any system is the facility of processing incoming payment messages to their logical end without manual intervention/
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